REDISCOVER REAL ESTATE

Key Interest Rate Stays Put!

With a lower growth forecast, the Bank of Canada is once again keeping its key policy rate unchanged.

Our historic low rates "will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required." With a weaker second half of 2012, the bank projects that growth in Canada will regain some momentum through 2013, with the economy "reaching full capacity in mid 2015 – later than anticipated."

The prime rate for most lenders should stay at 3%, now unchanged since September 2010.

The Bank's next rate decision is scheduled for May 29.

As for fixed rates, we continue to enjoy historically low rates for those looking to purchase or refinance, perfect for the spring market!

INVIS BEST RATES: 

Terms	Posted Rates	Our Rates
6 MONTHS	4.00%	3.95%
1 YEAR	3.00%	2.65%
2 YEARS	3.04%	2.69%
3 YEARS	3.70%	2.65%
4 YEARS	4.64%	2.89%
5 YEARS	5.24%	2.89%
7 YEARS	6.35%	3.49%
10 YEARS	6.75%	3.69%
Rates are subject to change without notice.   OAC E&OE

PRODUCT	RATE
5 YEAR VARIABLE:	2.65%

Every single day we're making homeowner dreams come true. Call Cindy Pusateri at Invis today for a free consultation.

 

 

Investing abroad? Think Florida!

Florida’s housing market is on the rebound and Canadian Snowbirds and other investors are helping lead that recovery.

Outside the obvious attraction of great weather and beautiful beaches, there are two specific factors that are making Florida real estate a particularly good value for Canadians investors. The primary reason is that Florida properties are an inexpensive and in some areas a real bargain compared to real estate here in Canada. 

The median priced home in Florida is nearly half than that in Canada.  At the same time, the Canadian dollar is  trading nearly 10 per cent above ‘fair’ value versus the U.S. dollar, arming Snowbird shoppers with extra buying power.

According to a new report from The Bank of Montreal,  analysis is largely reflected in the results of the report, which points to a surge in the price of a single family home in South Florida, up 12 per cent from its low point in April 2011.

The report also identifies growing demand for Florida real estate from foreign buyers, most notably Canadians, who have helped support property prices.

Canada remains Florida’s #1 source of foreign real estate buyers, although the same rising prices BMO points to have led to bidding wars and turned off some Canadians.

That is less so for some key markets. The report also outlines the key geographies in Florida where Canadians currently own real estate. These include:

 
•    Sarasota-Bradenton-Venice (17 per cent)

•    Orlando-Kissimmee (13 per cent)

•    Miami-Ft. Lauderdale-Palm Beach (13 per cent)

•    Cape Coral-Ft. Myers (9 per cent)

•    Tampa-St. Petersburg (9 per cent)

•    Naples-Marco Island (9 per cent)

 

Looking to invest outside Canada? 

How may I help you today? Direct line: 416-219-6662 

 

Toronto’s Diverse Housing Market!

One of the best things about working as a Realtor in Toronto is the opportunity to explore its many diverse neighbourhoods. 

The collection of villages within the city, each with its own culture, feel and diversity is surely one of our city's greatest resources.  As a Realtor however, of all the many elements that make up a neighbourhood, the one I focus on most is not just ‘location’ but more importantly, its cost of housing.

We continually hear headlines proclaiming the Toronto real Estate market is this or that, but in fact, each neighbourhood within the city has its own housing market, as distinctive as its culture. And like the vast differences of cultures, the variances in housing markets, or more particularly, the cost of housing is very broad. While $500,000 may buy you a beautiful four bedroom detached home in one area of the city, that same $500,000 would barely get you a tiny two bedroom condo in another.

Understanding the many elements that shape housing prices in each of these markets, as well as knowing where prices are trending, is an important part of a successful home purchase.

Looking to sell or buy in a particular area? Which neighbourhood is right for you?

How may I help you today? Direct line: 416-219-6662