Cyndia, Always Here To Help You Buy or Sell Your Home

99 Thomas, Dieppe

2011-11-16T14:48:00.000-08:00

Private back yard, 1 +2 bedroom bungalow. This property is original and is on the market for the first time. The kitchen dining room are open concept and in the back where you can enjoy the view of a private back yard. The living room has a vaulted ceilings. The master is quite large with plenty of closet. Main floor bathroom has a juccuzi and is spacious. Down stairs you have a music room that is sounds proof, perfect for the teenage drummer! Bedroom, full bath, laundry room and storage are also accessible from the basement. The property has an attached garage, paved driveway and fully landscaped. This house is tastefully decorated and in move in condition.

61 Berkley, Riverview

2011-11-14T12:03:00.000-08:00

Gorgeous 4 bedrooms cape cod, coming in from the front foyer you see the lovely fireplace that’s in the spacious living room, you also have access to the kitchen and dining room, down the hall you have a full bath and 2 bedrooms. From the garage you have a laundry room and storage, perfect for when you come in and have everything organised. The stairs leads you upstairs to 2 huge bedrooms and a half bath, the style of this home has lots of character. The basement is mostly finished and has a family room with fire place a game room and a work shop and plenty of storage and a cold room. The yard has mature trees and is in a quiet area with not a lot of traffic.

19 Bath St, Moncton

2011-10-04T08:14:00.000-07:00

Perfect starter home with lots of character! You come in from the front porch into a nice foyer where you see the open concept living room and dining room. Also in the back there’s a nice kitchen with a back storage room. The stair case brings you to 2 bedrooms and large bath and office area. This home has character with big baseboards, hardwood floors and high ceilings. The property also has a Shed/garage. Vacant lot beside it is also for sale if you wish to have a bigger property. Call Listing agent for more information.

Stats

2011-08-29T11:19:00.001-07:00

Stats

10 Elmer Buck, Riverview, N.B.

2011-07-25T09:29:00.001-07:00

Immaculate 3 level split with detached garage and fenced back yard. Coming into the spacious kitchen with lots of cabinetry you have the dining room at the end. The living room is on the same level with nice hardwood floors. Upstairs you have 3 bedrooms and one full bath. Going downstairs you will find a huge family room, an extra bedroom and a bathroom with laundry facilities. You also have a nice patio in the back to enjoy the large lot. The driveway is paved and the garage is large enough for a car and working area. Updates of this house during the last couple of years includes new patio door, screen door, fence, heat pump, laminate floors in the family room and flower beds. This house shows pride of ownership. Call Cyndia for your private viewing 506-850-2270

40 Petit-Codiac, Dieppe

2011-07-14T10:54:00.001-07:00

Immaculate 2 bedroom mini home situated on a semi private lot. Backyard is immense compare to others. This home offers a large open concept living room and kitchen. Kitchen has nice cabinetry with island, and pantry, you have access to the deck from the dining room, large master bedroom with a walk in closet, main bath has a corner Jacuzzi tub and separate stand up shower. Fridge, stove, dishwasher, washer and dryer are included in the purchase price. Each bedroom are at each end of the mini home. You can own this home for approx. $ 365.00 per month with 5 % down! (Interest rate of 4% on a 25 years amortization)

Call Cyndia for more details... 506-850-2270

1896 rue Amirault, Dieppe.

2011-06-22T08:09:00.001-07:00

One of the best deals in town! You have a 3 bedrooms, 1 ½ bath semi with spacious living room and kitchen plus this one includes appliances (fridge, stove, dishwasher) all blinds, landscaped and the driveway is done compared to a new construction that doesn’t have those feature. The seller will also cover the closing costs (legal fees) to help first time buyers. Seller is a member of the Moncton Real Estate Association. Call the listing Cyndia today to view.

News Release... May Report

2011-06-17T08:04:00.000-07:00

Home sales solid in May

Residential activity in the area served by the Greater Moncton REALTORS® du Grand
Moncton posted another year-over-year increase i n May 20111, although activity did
moderate from a very strong April.

According to statistics provided by the Board, home sales numbered 279 units in May
2011, the fourth highest level on record for May sales. It was an increase of 29 percent from the weak month of May in 2010. By comparison, provincial sales activity
was up 16 percent from year-ago levels.

On a year-to-date basis, sales remain four per cent above levels in the first five months of 2010.

“May was a good month for home sales in the region, though not quite as strong as
the near-record setting performance we saw in April,” said Shirley Powell, President
of the Greater Moncton REALTORS® du Grand Moncton. “While sales gains have
been seen across all price ranges, the biggest surge has been in the $150,000 to
$250,000 range, and that’s definitely having an effect on the average selling price.”

Sales activity in the price range from $ 120,000 to $150,000 rose 20 percent from
year--ago levels,while transactions priced from $150,000 to $250,000 jumped 45 percent. Activity priced from $250,000 to $350,000 was up 31 percent, although this
segment represents is fairly small in terms of its share of the market.

The average price for residential activity in Moncton was $167,433 in May 2011
marking the highest level ever reached. It was an increase of seven per cent from
May 2010. The average price of home sales in all of New Brunswick was $174,632 in
May, rising five percent on a year-over-year basis.

New listings on the Board’s MLS® system numbered 506 units in May, up 15 percent on a year-over-year basis. Active residential listings on the Board’s MLS®
System totaled 1,859 units at the end of May, rising two percent from the same
period last year.

There were 8.7 months of inventory at the end of May on a seasonally adjusted
basis. This was up from 6.9 months in April 2011, but that figure was the lowest in
three years due to the strength of sales in April. The number of months of inventory
is the number of months it would take to sell current inventories at the current rate of sales activity.

The total value of residential sales reported through the Board’s MLS® System was
$46.77 million in May 2011, jumping 39 percent from year-ago levels. The monthly
dollar value of residential sales in New Brunswick was up 22 percent from the
previous May.

Total sales activity numbered 315 units, up 27 percent from a year earlier. The
value of all property sales in May 2011 amounted to $51 million, an increase of 44
percent from year-ago levels.

The Greater Moncton REALTORS® du Grand Moncton represents more than 317
REALTORS® from over 33 member offices in Moncton, Dieppe, and Riverview as well
as nearby communities in South Eastern New Brunswick. MLS® is a co-operative
marketing system used only by Canada's real estate Boards to ensure maximum
exposure of properties listed for sale.

52 River East, Riverview

2011-06-13T10:29:00.000-07:00

This 2 bedroom, 1 full bath with open concept kitchen and living room comes with appliances and shed. Lot rent is 220.00$/month. For more information contact the listing agent.

1887 rue Amirault, Dieppe

2011-06-10T12:41:00.001-07:00

8 acres of land ready to be developed in Dieppe, just after Pointe-aux-Renard. This property has a 2 story house with garage. The house has 3 bedrooms, one full bath, kitchen, formal dining room and living room. There’s a road beside the house (right of way) that takes you to the back of the property where you can have access to the land. For more details contact the listing agent.

158 Wesley, Moncton

2011-05-17T12:17:00.000-07:00

Wonderful opportunity, this up & down duplex is located in the downtown area and has been updated with laminate flooring and some new window. All appliances are to remain. The main floor has 2 bedrooms & kitchen and bath and the upstairs unit has 4 bedrooms, kitchen and full bath. This rental property located in the Downtown area currently rents for $2050.00/month. For more details contact listing agent

9 Kingfisher, Moncton

2011-05-17T11:54:00.001-07:00

Well maintain and update 2 bedrooms mini-home. Nice vaulted ceiling in the living room that makes the room spacious, kitchen is just aside with Fridge and stove to remain and plenty of cabinets. The 2 bedrooms are on each end of the mini-home, master is quite spacious with access to the bathroom. Back deck and baby barn are other features. The lot is bigger and is at the end of the street where you can enjoy more privacy and tranquility. Driveway is paved and landscaped is well done. It would be my pleasure to show you this wonderful property, call me today.

130 Dominion, Moncton

2011-05-16T11:00:00.000-07:00

Very spacious 2 story home with lots of character in the downtown area. When entering this property you’re greeted to a nice porch that leads you to a big foyer with a nice wooden staircase. Living room, kitchen, bedroom and mudroom are all located on the main floor. Upstairs you can find 3 bedrooms and full bath. This property has sustained some renovations; it also has a 2 years old natural gas furnace. Nicely decorated this property is in move in condition. Call Cyndia for more details.

Stats for the first quarter in Moncton 2011

2011-04-26T10:54:00.000-07:00

Stats from the Greater Moncton REALTORS®

NUMBER OF UNITS SOLD BY PRICE 2011 2010
MONTH YEAR MONTH YEAR
Under 30,000 11 27 13 28
30,000 - 39,999 11 18 8 13
40,000 - 49,999 8 27 12 33
50,000 - 59,999 7 14 4 10
60,000 - 69,999 6 22 8 16
70,000 - 79,999 11 20 4 11
80,000 - 89,999 7 20 6 16
90,000 - 99,999 4 13 3 15
100,000 - 119,999 19 49 29 57
120,000 - 139,999 37 81 38 88
140,000 - 159,999 23 76 36 82
160,000 - 179,999 18 40 33 61
180,000 - 199,999 22 48 15 44
200,000 - 219,999 6 21 9 25
220,000 - 239,999 8 21 10 20
240,000 - 259,999 4 10 7 15
260,000 - 349,999 11 33 9 28
350,000 - 399,999 2 5 2 3
400,000 - 499,999 0 0 1 3
500,000 - 749,999 1 1 0 2
750,000 - 999,999 0 1 0 0
1,000,000 + 0 0 0 0

1011 Bourque, Dieppe

2010-11-29T10:54:00.001-08:00

LOOKING FOR YOUR DREAM HOME AND PRIDE OF OWNERSHIP? THIS STUNNING NEW CONSTRUCTION IS THE ONE! Large foyer invites you into the open great room highlighted by a tray ceiling. This flows into the dining area with access to the deck and backyard. Dramatic kitchen features custom made cabinets with granite counter top and center island. 3 spacious bedrooms and family bath, Master with ensuite with custom vertical spa. Beautiful hardwood staircase leads you to the completely finished lower level with family room, laundry/utility room, 3 piece bath, games/theatre room, and a 4th bedroom. Double attached garage, natural gas. Locate just across the Fox Creek Golf Course; you can even see the course from the house, just walking distance to a game of golf!

155 Cobblestone St., Riverview

2010-11-23T06:05:00.001-08:00

When you enter the foyer of this custom built home, you are greeted with a hardwood staircase, leading to the open concept living room, dining room and a beautiful kitchen accented with cabinetry that is darkly stained, as well as a center island. This one year old house has three bedrooms, a master bedroom with a walk-in closet and main bath with a custom vanity. The family room, half bath and an extra bedroom are located in the basement. A landscaped lot, double car garage and paved driveway make this home a delight to show!

126 Saint John St., Shediac

2010-11-15T07:07:00.001-08:00

This cottage has been intensely renovated and is on a double lot. It’s a cute bungalow style cottage with one bedroom, Living room, kitchen and bathroom all on the same floor. You can enjoy the summer months sitting on the deck while observing the view of the water. This is close to the Pointe du Chene Warf and is walking distance to the beach.
Newly Reduced Price: $112,900

152, 154 & Lot on Hanington, Shediac

2010-11-15T06:41:00.001-08:00

Situated in the Canadian Tire, Wilson Gas Bar Corner in Shediac, this parcel includes a beautiful vacant lot with 2 buildings. It has great visibility which is accessed from Main Street. Easy access to the Trans Canada high way, perfect for commercial development.

141 Gilbert Finn, Dieppe

2010-11-05T11:11:00.001-07:00

QUALITY, STYLE AND SPACE IS OFFERED IN THIS IMMACULATE, WELL DESIGNED CLIMATE CONTROLLED 7 YEAR OLD HOME. Spacious foyer with ceramic tile leads to the stunning great room with large windows, kitchen with center island and a breakfast bar opens to the dining area where patio doors flow to a raised deck with stairs leading to the back yard. Two spacious bedrooms, master with large closet plus family bath complete this level. Hardwood staircase leads to the lower level family room with a cozy propane fireplace, office/guest room, full bath, laundry area and a garage that could accommodate 2 vehicles. Double paved driveway, large lot and central air all help make this property one you would be delighted to own.

203 Pointe du Chene, Shediac

2010-10-26T10:28:00.001-07:00

This Cottage is a business, not only is it on its own land, a rare find for this area, but it also brings an income of $28,800/ year. About the property: it has been intensely renovated and has a large detached garage. It’s a 1 ½ story with 2 bedrooms upstairs with spacious bathroom and the main floor has 2 other bedroom, full bath, Living room, formal dining room and kitchen. You can enjoy the summer months sitting on the huge deck in the back or just taking a walk to the beach.
Newly Reduced Price: $274,900

205 Pointe du Chene, Shediac

2010-10-26T09:47:00.000-07:00

This Cottage is a business, not only is it on its own land, a rare find for this area, but it also brings an income of $19,500/ year. About the property it has been intensely renovated and is on a double lot. It’s a 1 ½ story with one of bedroom upstairs with a loft feeling to it and the main bedroom on the main floor. Living room has cathedral ceilings so does the kitchen. You can enjoy the summer months sitting on the deck while observing the view of the water.
Newly Reduced Price: $214,900

Lot on Chemain de l'Eglise in Saint-Philippe

2010-10-21T11:19:00.000-07:00

1 acre lot with well and septic. Located in St. Philippe on Chemin de l`eglise just across from the church. Asking price is $16,900. For more details, contact the listing agent.

67 Purdy, Moncton

2010-10-18T12:04:00.001-07:00

This lot is zoned as MU-1 and could hold up to 4 units. It is a construction lot with full service and a small building that needs to be demolished. Contact agent for more details

Cape Breton Rd, Saint-Phillippe

2010-10-18T10:25:00.000-07:00

Looking for a camp/cottage to do some fishing or hunting near Moncton. Voila! This 1 ½ story property has 3 bedrooms, 1 full bath, living room and kitchen near a stream where you can fish and be secluded with over 55 acres of land. Also comes with a detached garage. All call Listing agent for more details. All of this for under 100,000.00

246-248 Acadie, Dieppe

2010-10-18T09:23:00.000-07:00

Great location, High traffic area, perfect for offices or any commercial business. This property has a big back yard and plenty of parking. 2 Storey property currently use as a commercial business on main floor and offices on 2nd floor. For more details call Listing agent.

30-32 Gloucester, Moncton

2010-10-18T07:07:00.000-07:00

This property is selling below assessment value! Triplex units are renting at $500, $525 and $600. 3 fridge and 3 stoves to remain as well as washer and dryer. Building is currently fully occupied. This property is a great investment opportunity. Call the listing agent for more details.

253 Arsenault Road, Dieppe

2010-10-18T05:47:00.000-07:00

Commercial building located in the Dieppe industrial park. Currently use as workshop, can entertain any kind of business. It has one side with the high ceilings (12 feet with garage door) and the other side also has garage doors, bathrooms and office) Plenty of storage available and it also has 2 one bedroom apartment renting for $600.00/month each. For more details contact listing agent.

2304 ch. Pleasant Ridge, Rogersville

2010-09-20T06:55:00.000-07:00

ENJOY THE PRIVACY AND TRANQUILITY THAT THIS BUNGALOW HAS TO OFFERS! TOTAL LIVING AREA OF APPROXIMATELY 3,000 SQ. FT. Large foyer opens to dining room and open concept kitchen, bright living room, 3 bedrooms and family bath. Family & friends will enjoy additional living space in lower level.. family room/games room, bedroom, 3 pc bath, cold room and storage. Double car garage. For more details call Cyndia 506-850-2270

7 Burberry, Riverview

2010-08-11T11:50:00.000-07:00

FIT FOR A KING!!! DOUBLE DETACHED GARAGE AND DOUBLE ATTACHED GARAGE; THIS LUXURIOUS PROPERTY IS FOR THE DISCRIMINATING BUYER! Quality materials are found in this stunning custom bungalow home with upper loft. Foyer opens to panoramic great room with fireplace, dining area flows into a gourmet kitchen with breakfast bar. Master bedroom has his/hers walking closet, unsuited is specifically designed for his/her needs with deep Jacuzzi tub, shower and separate sinks. 2 bedrooms can be found on the opposite side of the home with full bath. The completely finished basement holds wet bar with family room and games room, 2 more bedrooms, wine cellar storage room and utility room. Many more features are available call listing agent for private viewing.

227 Pascal, Dieppe

2010-08-04T07:22:00.000-07:00

CHARMING BUNGALOW WITH PRIVATE BACK YARD, The foyer opens to a large bright living room and then leads into the spacious dining room and kitchen which offers patio doors that lead to a deck and private backyard. The 3 main floor bedrooms are conveniently located at opposite ends of the house while the family bath found in the hall. The lower level offers additional, comfortable living space with family room and an additional bedroom with closets. Laundry room and storage are also located downstairs. MANY UPGRADES ARE FOUND IN THIS WELL CARED FOR HOME INCLUDING, DECK, FLORING, WINDOWS. CALL LISTING AGENT TO VIEW THIS IMMACULATE HOME IN PRIME LOCATION!

1959 Amirault, Dieppe

2010-07-13T10:19:00.001-07:00

What a great starter home, better than a semi, you have your backyard and privacy. This 2 story home has 3 bedrooms upstairs with full bath, the main floor consist of a kitchen with formal dinning room, living room and nice porch. This property was recently painted and comes with all appliances.

For more details or if you would like to view this property,

Contact me at 850-2270

Cyndia
cyndia@live.com
www.eliteadvantage.ca

Private Sales

2010-07-06T11:07:00.000-07:00

What to do when you put an offer to a private owner? You're really a sitting duck because you have no one to regulate the transaction. You have to rely on the sellers words and hopefully honesty. A friend of mine put an offer to a private owner and gave $500.00 deposit, it was upon condition that he sells his house. Unfortunately his house didn't sell on time and the offer became null and void. Usually the deposit would be return to the buyer without any interest or penalty. But who governs that through a private sale??? That's right nobody! Meaning the seller. In this case the seller didn't return the $500.00 back to the buyer, so what can he do? Yes, you got it right, hire a lawyer. Therefore he needs to spend money to get his money back.

Through the professional, meaning a license Realtor, all money is deposited into trust account, all trust account are regulated by the province therefore your money is return to you accordingly. Unless of a dispute, but those are exceptions and more complicated situations.

If you really want to buy a private sale, you can always hire a REALTOR to do so and the paper work is worded accordingly and your money is kept in Trust. Keep in mind that when you buy, a REALTOR is free, you have nothing to loose only to gain.

I'm Always here to help you buy or sell your home.

Cyndia Doucet
850-2270

61 Cyril, Dieppe

2010-07-02T07:51:00.001-07:00

61 Cyril, Dieppe

A welcoming foyer invites you to an ascend hardwood staircase to a spacious great room that flows into the stunning kitchen, you’ll be impressed with the lay out. Patio doors lead to a raised deck with large back yard. Two bedrooms and full bath complete this level, the partly finished lower level offers a sunny family room with games room with 3rd bedroom, full bath and laundry room. Hardwood and ceramic floors on the main level, fully landscaped. Call me to view at 850-2270

Cyndia

144 Hanington, Shediac

2010-06-02T11:52:00.001-07:00

The moment you pull in the driveway you can start enjoying this property with its tailored landscaped, which include a pond & interlock brick. The double detached HEATED garage at the end of a double paved driveway, is every mans dream. The foyer is nice and bright and leads you to the living room, sun room, gourmet kitchen with plenty of cabinetry. The sunroom has vaulted ceilings with skylight, and the atmosphere is so peaceful. You also have a bedroom on the main floor with unsuited, 2 upstairs with ½ bath an the basement is completely finished with kitchen, living room, 2 bedrooms and full bath with it’s own entry way, ideal to rent if you want a mortgage helper. New roof and heating system installed last year.

Cyndia,
Always Here to Help You Buy or Sell Your Home.

(506)850-2270
cyndia@live.ca
www.eliteadvantage.ca

5 reasons why you need a real estate agent

2010-05-31T05:47:00.000-07:00

This article was sent to me, enjoy...

Five Reasons Why You Still Need a Real Estate Agent

Tara Struyk

May 25, 2010

Forbes.com Magazine

The proliferation of services that help homebuyers and sellers complete their own real estate transactions is relatively recent, and it may have you wondering whether using a real estate agent is becoming a relic of a bygone era. While doing the work yourself can save you the significant commission rates many real estate agents command, for many, flying solo may not be the way to go--and could end up being more costly than a realtor's commission in the long run. Buying or selling a home is a major financial (and emotional) undertaking. Find out why you shouldn't discard the notion of hiring an agent just yet.

1. Better Access/More Convenience

A real estate agent's full-time job is to act as a liaison between buyers and sellers. This means that he or she will have easy access to all other properties listed by other agents. Both the buyer's and seller's agent work full time as real estate agents and they know what needs to be done to get a deal together. For example, if you are looking to buy a home, a real estate agent will track down homes that meet your criteria, get in touch with sellers' agents and make appointments for you to view the homes. If you are buying on your own, you will have to play this telephone tag yourself. This may be especially difficult if you're shopping for homes that are for sale by owner.

Similarly, if you are looking to sell your home yourself, you will have to solicit calls from interested parties, answer questions and make appointments. Keep in mind that potential buyers are likely to move on if you tend to be busy or don't respond quickly enough. Alternatively, you may find yourself making an appointment and rushing home, only to find that no one shows up.

2. Negotiating Is Tricky Business

Many people don't like the idea of doing a real estate deal through an agent and feel that direct negotiation between buyers and sellers is more transparent and allows the parties to better look after their own best interests. This is probably true--assuming that both the buyer and seller in a given transaction are reasonable people who are able to get along. Unfortunately, this isn't always an easy relationship.

What if you, as a buyer, like a home but despise its wood-paneled walls, shag carpet and lurid orange kitchen? If you are working with an agent, you can express your contempt for the current owner's decorating skills and rant about how much it'll cost you to upgrade the home without insulting the owner. For all you know, the owner's late mother may have lovingly chosen the décor. Your real estate agent can convey your concerns to the sellers' agent. Acting as a messenger, the agent may be in a better position to negotiate a discount without ruffling the homeowner's feathers.

A real estate agent can also play the “bad guy” in a transaction, preventing the bad blood between a buyer and seller that can kill a deal. Keep in mind that a seller can reject a potential buyer's offer for any reason--including just because they hate his or her guts. An agent can help by speaking for you in tough transactions and smoothing things over to keep them from getting too personal. This can put you in a better position to get the house you want. The same is true for the seller, who can benefit from a hard-nosed real estate agent who will represent their interests without turning off potential buyers who want to niggle about the price.

3. Contracts Can Be Hard To Handle

If you decide to buy or sell a home, the offer to purchase contract is there to protect you and ensure that you are able to back out of the deal if certain conditions aren't met. For example, if you plan to buy a home with a mortgage but you fail to make financing one of the conditions of the sale--and you aren't approved for the mortgage--you can lose your deposit on the home and could even be sued by the seller for failing to fulfill your end of the contract.

An experienced real estate agent deals with the same contracts and conditions on a regular basis, and is familiar with which conditions should be used, when they can safely be removed and how to use the contract to protect you, whether you're buying or selling your home.

4. Real Estate Agents Can't Lie

Well, OK, actually they can. But because they are licensed professionals there are more repercussions if they do than for a private buyer or seller. If you are working with a licensed real estate agent under an agency agreement, (i.e., a conventional, full-service commission agreement in which the agent agrees to represent you), your agent will be bound by common law (in most states) to a fiduciary relationship. In other words, the agent is bound by license law to act in their clients' best interest (not his or her own).

In addition, most realtors rely on referrals and repeat business to build the kind of clientèle base they'll need to survive in the business. This means that doing what's best for their clients should be as important to them as any individual sale.

Finally, if you do find that your agent has gotten away with lying to you, you will have more avenues for recourse, such as through your agent's broker, professional association (such as the National Association Of Realtors) or possibly even in court if you can prove that your agent has failed to uphold his fiduciary duties.

When a buyer and seller work together directly, they can (and should) seek legal counsel, but because each is expected to act in his or her best interest, there isn't much you can do if you find out later that you've been duped about multiple offers or the home's condition. And having a lawyer on retainer any time you want to talk about potentially buying or selling a house could cost far more than an agent's commissions by the time the transaction is complete.

5. Not Everyone Can Save Money

Many people eschew using a real estate agent to save money, but keep in mind that it is unlikely that both the buyer and seller will reap the benefits of not having to pay commissions. For example, if you are selling your home on your own, you will price it based on the sale prices of other comparable properties in your area. Many of these properties will be sold with the help of an agent. This means that the seller gets the keep the percentage of the home's sale price that might otherwise be paid to the real estate agent.

However, buyers who are looking to purchase a home sold by owners may also believe they can save some money on the home by not having an agent involved. They might even expect it and make an offer accordingly. However, unless buyer and seller agree to split the savings, they can't both save the commission.

The Bottom Line

While there are certainly people who are qualified to sell their own homes, taking a quick look at the long list of frequently asked questions on most “for sale by owner” websites suggests the process isn't as simple as many people assume. And when you get into a difficult situation, it can really pay to have a professional on your side.

Source: http://www.forbes.com/2010/05/25/why-you-need-real-estate-agent-personal-finance-commission.html?boxes=Homepagechannels

Cyndia
(506) 850-2270

Thinking of a career in real estate?

2010-05-25T08:44:00.000-07:00

The Real Estate course will be given in Moncton in the month of July. For anyone that is interested in a career in Real Estate you can contact me and it will be my pleasure to give you all the information that you need.

Cyndia

(506)850-2270

MLS Stats, first quarter 2010

2010-05-06T07:38:00.000-07:00

I just received the MLS stats for the first quarter of 2010. The sales are higher!

SALES BY DISTRICT

Moncton City 245 unit sold compare to 206 in 2009
Dieppe City 117 unit sold compare to 81 in 2009
Riverview Town 54 unit sold compare to 58 in 2009
Remainder 99 unit sold compare to 102 in 2009

AVERAGE SALE PRICE BY DISTRICT

Moncton 156,706 compare to 149,742 in 2009
Dieppe 166,666 compare to 158,395 in 2009
Riverview 163,687 compare to 159,433 in 2009

In general the sales price are higher and more properties are selling. Keep in mind that it takes longer to sell a property; in the greater Moncton it takes in general 112 days, almost 4 months; in Moncton it takes 108 days; Dieppe 106 days; in Riverview 113 day and outside these area it takes 127 days.

Therefore when you put your property on the market you should expect it to sell withing 3-4 months if all is done right.

For more details about our stats, you can contact me at 506-850-2270 or via email cyndia@live.com or check out my website www.eliteadvantage.ca

Cyndia

361 Mandeville, Dieppe

2010-04-30T12:18:00.000-07:00

BEAUTIFULLY APPOINTED 3 BEDROOM HOME ON QUIET STREET IN POPULAR THOMAS GARDEN! Fabulous executive offers an airy open design perfect for today’s busy lifestyle. A spacious foyer with stair case that leads to the main living area including living room, dining room and stunning, gourmet eat-in kitchen with ample cabinetry, gives you ample space and luxury for your everyday living quarters. A charming propane fireplace highlights the spacious living room. The hugely well constructed patio has 2 tiers for the entertainers. Ascend a sweeping staircase to the 3 generous upper level bedrooms including master and bathroom with Jacuzzi tub. Numerous large windows allow abundant natural light to filter through, hardwood & ceramic floors flow throughout both levels and the basement is completely finished with an airy office and spacious family room/playroom area. The garage is well organized with huge private storage. Everything you could want in a dream home!

For your private viewing Call Cyndia 850-2270

or visit my website at www.eliteadvantage.ca

Purchase & Sale

2010-04-20T11:07:00.000-07:00

Understanding a Purchase and Sale Agreement. Make sure you understand clearly the contract because if you don't you may get yourself in a sticky situation or you may be vulnerable to someone that will try to get you for your lack of understanding. Having a good and reputable Real Estate Agent will help, not only that but they will represent you in the process. I'm writing this blog because of a situation where the buyer was really trying to take advantage of a situation. I wont name any names, but an individual originally from a foreign country was trying to do just that. Thank god for the contract to be very clear and precise.

Here is one of the condition of the Purchase and Sale; the inspection. How this goes is mainly the buyer hires a license inspector to go through out the house, you will then receive a report with all concerns, damages, repairs to be dealt with. Upon receipt of this report, you may renegotiate with the seller under the simple fact that you were willing to pay a certain price for the property, but with all repairs that needs to be done, you are not willing to pay the full price, or the sellers may want to make the arrangement for repairs themselves, if any repairs. After you sign that amendment for the inspection, there is no turning back. Especially on the day of closing this irritates sellers and only make the whole process, well not fun. If you decide to be a hard head, well the seller may back out of the deal all together. Not only that but you loose respect from the lawyers, real estate agent and all professional involved. In the matter that I'm referring to, I know that I will refuse to deal with that client ever again, same for the inspector, as for the extra phone calls, explaining, frustration and sometimes insults. It's just not worth it.

For those of you that know me well, I love real estate and it's a lot of fun when all parties abide by the rules and regulations.

Until the next deal,

I'm always here to help you buy or sell your house.

Cyndia

340 Argyle st, Moncton

2010-04-13T08:49:00.001-07:00

Better than a semi! This magnificent bungalow has sustained a face lift. Coming in from the front door you can enjoy the fireplace, hardwood floors spacious living room, you can notice the new cabinetry in the kitchen with all the new fixtures and ceramic tiles. Down the hall you have 3 bedrooms and a full bath, the master has its own patio door so you can have a glimpse of the outside or you can simply enjoy a coffee on the patio. The basement is completely finished with large family room, office and spare room with a ½ bath. Let’s not forget the single attached garage, the pave driveway and the fully mature landscape.

It would be my pleasure to show you this wonderful property,

contact me at 850-2270 or cyndia@live.com

check out my website at www.eliteadvantage.ca

Cyndia

When buying a commercial property

2010-04-12T05:49:00.001-07:00

My clients are in the process of buying a commercial building. It's a little more complicated than your typical residential unit. You have to keep in mind that the bank is requesting a lot more paper work from the seller and will ask for an appraisal. When buying a commercial property you really need to make more time for all the red tape. Sellers need to be organized and patient in order to make the whole deal happen. Typically you can receive a letter of financing within 1 week when buying residential property, but for commercial it may take over 3-4 weeks. By the time that all the paper work is submitted and the appraisal is order and the report completed, it will take a couple of weeks.

The bank will request proof of income and expenses for the last 12 or 24 months. It's good to have the file ready.

If you're thinking of selling your income property, have those papers handy and this will help the whole process.

If you have any questions concerning commercial property,

Contact me

Cyndia
506-850-2270
cyndia@live.com

www.eliteadvantage.ca

How much money can your real estate agent save you?

2010-03-31T06:23:00.000-07:00

A good real estate agent will be able to save money. Depending on the situation or the purchase price, the amount may go from hundreds of dollars to thousands. I just finished a deal with a client and I was able to save them $5,000.00 on there purchase. How did I do that? Simple I make many transactions a year and I know when I have a good argument to lower the price. Let say I make 50 transaction a year without counting the ones that some times don't go through and I've been doing this for over 6 years, therefore I made over 300 real estate deals. A buyer that may have bought before may only have 2 or 3 maybe up to 6. Not only that but I'm license, meaning I need a certain degree of education for practising, plus I have to follow our code of ethics.

Going back to my deal, on the inspection we found a lot of damage in a certain area of the property. We had estimate done and the cost where quite significant. Now my client that has been looking for a while was asking an amount that was way to reasonable, but he didn't want to loose the property, due to the fact that we have been looking for month and this one worked. I knew my client wanted a certain amount of reduction, but with all the pictures and the estimate, I came back and negotiated harder because I knew we had the grounds. After going back and forth with the sellers agent, I was able to drop the price and extra $5,000.00 from what my clients where asking. My clients were ecstatic. The thing is, I'm not emotionally attached to the purchase, or the transaction, therefore I was able to make the right decision for them.

How much money did your real estate agent save you?

Thinking about buying and want to be in good hands?

I'm Always Here To Help You Buy or Sell Your Home,

Cyndia
506-850-2270
cyndia@live.com
www.eliteadvantage.ca

59 Kedgwick, Dieppe

2010-03-30T09:51:00.000-07:00

This 2 bedroom mini-home was custom made and has lots of extra’s. The kitchen is full of cabinetry, plus it has an island that can be use as a breakfast nook. It’s open concept to the large living room. The bathroom has higher end cabinetry and stores the washer and dryer. The master bedroom is quite large and has his & hers closets. There’s 2 patios available plus a baby barn for all your storage. The driveway is paved and the landscaping is done.

For more details contact me at 850-2270; cyndia@live.com or check out my website at www.eliteadvantage.ca

Cyndia

Always Here to Help You Buy or Sell Your Home

155 Frederic, Dieppe

2010-03-25T10:59:00.000-07:00

LOCATED CLOSE TO SCHOOLS, DAY CARE, PLAY GROUNDS AND SKATING RINK, ENJOY THE SPACE AND COMFORT THIS TWO STOREY 3 + 1 BEDROOM, 1 ½ BATH HOME HAS TO OFFER. The center hall foyer opens to the living room that leads you to the dining room, with open concept kitchen/dining room. A convenient ½ bath is on the main floor. The garden door which leads to a spacious deck with huge back yard will let you enjoy outside activities. The hardwood staircase from the foyer leads you upstairs to 3 spacious bedrooms and full bath. Hardwood floors and ceramic tile are to be expected. The basement is completely finish with huge family room, bedroom and storage room. The garage offers plenty of space for a car and storage. CALL LISTING CYNDIA TO ARRANGE YOUR PRIVATE VIEWING.

Cyndia
506-850-2270
www.eliteadvantage.ca
cyndia@live.com

83 Olivier, Dieppe- For Sale

2010-03-23T04:23:00.000-07:00

This 1 ½ storey property has lots to offer. Located in the Downtown Dieppe area it’s perfect for a small business, for the use of a home office or for a family home. It’s presently use as a business but it has kitchen, living room with fireplace, 3 bedrooms and a bathroom. This property has a large back yard or parking. When visiting this property, keep in mind that it’s being use as a business. Please note that the business is relocating and the property will be vacant upon closing.

For more information or for your personal viewing,

contact Cyndia,

850-2270
cyndia@live.com
www.eliteadvantage.ca

Open Houses

2010-03-22T05:10:00.001-07:00

Why agents do Open Houses? There's many great reasons why a real estate agents do Open Houses. Mainly is to show the product and let the potential buyers in. It's a great tool for the people that don't want to schedule an appointment to view the property for simply fear of bothering the agent. Sometimes the public, especially first time buyers don't know where to start when it comes to buying a home, therefore this provides the opportunity to meet an agent and have more information in the whole process of buying.

I've come across so many people that are in apartments and dream to have a home but don't know what they need or how to get it done, that's why we are here we make it happen for you. Also, I've met people who want to up size, their family is larger and they lack space and don't know how to make it happen to sell and buy at the same time, again that's why I'm here it's to make it happen and make the whole process simple and stress free.

Open Houses is a great selling tool, most properties that I did open houses sold shortly after. Also you get the public in and you receive some feed back that you can transfer to the seller.

If you find yourself in one of those situation noted above, contact me and it will be my pleasure to help you materialise your dream.

Cyndia,

www.eliteadvantage.ca

When using the service of a Real Estate Agent

2010-03-11T06:20:00.000-08:00

I've come across all kinds of people from different avenues. There's nothing that I like best is to do business with someone that has a good business sense. It's not all people that understand the system of the business world. Therefore when you use the service of a Real Estate Agent or any professional for that matter, keep in mind that there time is there livelihood. Meaning if you use their time they need to get paid at the end of the deal. Imagine working 40 hours per week and after a couple of weeks working for an employer he doesn't pay you because the deal didn't go through, how long could you work under those circumstances? Same thing for anyone that works for themselves, their time needs to bring an income. If you are looking to buy a house be honest with yourself and your real estate agent, if you're only browsing that's fine to but let your agent know as they have to priorities their clients, from who needs to move immediately and who is just browsing. At the end of the day we provide a great service and we are there to bring sellers & buyers together on a ethical field.

For more information on Real Estate view my website at www.eliteadvantage.ca

Cyndia
506-850-2270
cyndia@live.com
Always Here To Help You Buy or Sell Your Home.

17 Georgia Lane, Moncton

2010-03-09T09:54:00.000-08:00

It's always my pleasure to introduce you to a new property. Here's 17 Georgia Lane in Moncton and this property is located in Savanah Heights. This exquisite 3 bedrooms raise ranch greets you with a large foyer and open concept. The kitchen is made for a chef with plenty of cabinetry and island, dining room and large living room makes this home very warm and enjoyable. The master bathroom is very functional with 2 sinks, Jacuzzi and shower with access to the Master bedroom. The basement has huge entertaining room with pellet stove with access to another full bath. The garage is double, heated and attached.

If you would like me to show you this property, just email me at cyndia@live.com or by phone at 506-850-2270.

I'm Always Here to Help you Buy or Sell Your Home.

Cyndia

www.eliteadvantage.ca

Client loyalty

2010-03-08T05:10:00.000-08:00

As a real estate agent and business owner, my client loyalty is the best thing anyone can give me. It's so enjoyable to serve new clients but it's also a pleasure to have my previous clients call me back. It's nice to come across people who understand that we provide a service and that we have to be flexible when it comes to our schedule.

I came across this wonderful couple, they were thinking of selling their home and I met with them. They really liked what I had to offer but needed some time to discuss it and think it over. Within a couple of days they call me and they were ready to sell. We schedule an appointment and I was looking forward to meet with them. As any human being I had health issues and had to be hospitalise for a couple of days. (I'm a very healthy person so this was out of the ordinary for me). I was able to have someone go over to do the paper work with them. Instead they wanted to wait until I got better and we would do it then. I reschedule the appointment and now will be seeing them again. What a pleasure to have understanding clients, and patient ones as selling your home can play with your patience.

Thank you to all my Loyal clients!

Cyndia

What was the highest price obtain for a residential property in the Greater Moncton area?

2010-02-04T06:20:00.000-08:00

Something to know about the Moncton real estate market, is what are the prices of the property being sold? Well in the whole history of Moncton, when looking in our data base, the highest price ever obtain for a residential property (not commercial) is $895,000.00 This property was sold in 2006 and is located in Grand Barachois it's a waterfront property. The 2nd highest priced property was sold for $780,000 in 2009 and is located in Moncton, and the 3rd highest priced property, actualy there's 2 at the price of $720,000 and they were sold in 2009. One located in Dieppe and I'm happy to say that I sold it! and the other one is located in Grand Barachois.

If you have a luxurious residential property of over $700,000.00 it will take a lot of time to sell. These property are not the easiest to sell, often home owner will loose a lot of money because the market doesn't sustain such excuisite homes. Therefore if you're thinking of buying or selling, even building, remember the market you are in.

If you want more details about the Moncton Real Estate Market you can check out my website at www.eliteadvantage.ca

Cyndia, Always Here To Help You Buy Or Sell Your Home.

Realtors can have EI Benefits....

2010-02-01T11:32:00.000-08:00

REALTORS® welcome EI benefits for Self-Employed
Ottawa – February 1, 2010 – On behalf of Human Resources and Skills Development Minister Diane Finley, Rob Moore, Minister of State for Small Business and Tourism, joined today with Canadian Real Estate Association (CREA) CEO Pierre Beauchamp to announce that self-employed REALTORS® can now participate in the Employment Insurance (EI) program.
“From coast-to-coast-to-coast, a large majority of REALTORS® are self-employed,” says Mr. Beauchamp. “By creating a level playing field within the EI program, many of our members will no longer have to worry about taking time away from their careers to have a baby or care for a family member who is gravely ill.”
Bill C-56, the Fairness for the Self-Employed Act, extends EI benefits for self-employed REALTORS® for:
• maternity benefits (15 weeks maximum), which are available to mothers and cover the period surrounding birth (a claim can start up to eight weeks before the expected birth date);
• parental/adoptive benefits (35 weeks maximum), which are available to biological or adoptive parents while they are caring for a newborn or newly adopted child, and may be taken by either parent or shared between them;
• sickness benefits (15 weeks maximum), which may be paid to a person who is unable to work because of sickness, injury or quarantine; and
• compassionate care benefits (six weeks maximum), which may be paid to persons who have to be away from work temporarily to provide care or support to a family member who is gravely ill with a significant risk of death.
Self-employed Canadians who voluntarily opt in to the EI program are eligible to collect benefits as early as January 1, 2011.
“CREA is thrilled that the Government of Canada listened to REALTORS® and other self-employed Canadians,” says CREA President Dale Ripplinger. “To have this legislation introduced and passed so promptly demonstrates the government’s willingness to help each and every working Canadian.”
“It’s nice to know that REALTORS® now have the choice to balance career and family along with other working Canadians,” adds Bruce Mullett, Chair of CREA’s Federal Affairs Committee. “Real estate transactions contribute $132 billion to the economy and add 202,750 jobs annually to Canada’s economy.”
REALTORS® who opt in to the program will pay the same EI premium rate as salaried employees in their province. They will not be required to pay the employer portion of premiums, which takes into account the fact they will not have access to EI regular benefits. Premiums, and resulting benefits, will be based on income

The world of Credit

2010-01-20T05:52:00.000-08:00

I met with a young couple at my last Open House and they ask me excellent questions about Credit. Here it is in a nut shell...

What is Credit?

Credit is borrowed money that you can use to purchase things you need when you need them and then repay the funds back at an agreed on time.

How can you get Credit?

You can get credit at any financial institution, either for a car, TV, appliances, furniture and for this discussion I will concentrate on Mortgage.

What do Lenders look for?

They look at your past credit history.

How do they do that?

They pull out your Credit report that consist of all your past history with lenders that you dealt with in the past, usually the last 6 to 7 years. All the lenders give out the information on how your were on time, or late if so how many times and for how long. The amount of the loan and payments also shows on your report. On your report you have a score and the better you are at paying on time, paying the full amount and not getting to much credit the better your score. Scores usually range from 0 to 850 depending on the company you get the credit from. For this I'm basing my self on Equifax. If you have a credit score of 650 and over you are good and can probably get the loan that you apply for. If you're credit is over 700 you can get a mortgage with 0% down, others bellow that mark need 5% down and bellow 600 forget it you want be approved for a mortgage.

Your Credit report takes years of good financial behaviour in order to establish great credit. If you're always late with your payment it's guarantied that your score is low.

What shows on your credit?

Any loan that you made, car, personal loan, line of credit, credit cards, student loan. Your mortgage, Cable bills, phone bill, cell phone bills, Satellite bills, utilities does not show on your credit. This is where a lot of people run into trouble because if you loose your job, people tend to pay all the bills of the service they use on a daily basis and wait for the rest and the system is just the opposite. In order to not show that you had any financial hardship make sure you pay the bills on your credit first.

The world of Credit, has a lot more details but if you wish to know more you can contact me at 506-850-2270 or via email cyndia@live.com.

The importance of looking beyond.

2010-01-13T06:18:00.000-08:00

A couple of Blogs ago, I was writing about the importance of an inspector and the situation about one of my clients with mold issue in the attic. After the inspection, the seller had to call a specialist in order to remove the mold. Well come to find out, it's not mold. Its a reaction that the wood has with the heat of the sun and turns black. It's not hazardous or life threatening. Good news for the seller. It's always good to look beyond the first diagnosis. Now we will have the deal finish today and have the property sold.

Cyndia, Always Here to help you buy or sell your home.

Year end Stats for Moncton, Real Estate

2010-01-12T10:51:00.000-08:00

I'm finally getting around to put the stats of the year end of 2009 for the Greater Moncton area.

As a conclusion we finished with a decrease in sales Dollar Volume of 8% and also a decrease of the number of sales of 9%. Compared to 2008. This means that there was less sales in 2009 for the Greater Moncton area compared to 2008. Even though we finished with a decrease for the year, the month of December was good. We ended up selling more properties in December 2009 compare to December 2008, an increase of 31%. This wasn't enough to to bring the numbers up for the year but at least we finished the year with a bang!

Here are the numbers...

Greater Moncton Real Estate Board Inc.
MLS ® Statistic Report
DECEMBER 2009
2009 2008 2007 [ 2008 - 2009 ]
Total # of Listings [Month] 207 188 144 10%
Total # of Listings YTD 5548 6039 5859 -8%
Total # of Expired Listings [Month] 491 432 394 14%
Total # of Expired Listings YTD 2737 2392 2554 14%
Total # of Sales [Month] 169 129 130 31%
Total # of Sales YTD 2676 2937 3223 -9%
Total Sales Dollar Volume [Month] $24,436,068 $18,632,946 $19,367,527 31%
Total Sales Dollar Volume YTD $378,826,245 $409,985,447 $422,156,394 -8%

2009 2008 2007 TOTAL
Total # of Closed Sales [Month] 180 128 172 480
Total # of Closed Sales YTD 2656 2931 3208 8795
Total Dollar Volume of Closing Sales YTD $377,528,866 $411,246,338 $416,526,309 $1,205,301,513

Number of Active Listings in the MLS ® System
At time of Report Creation. 2193

IF you have any questions on the stats, please contact me and it will be my pleasure to explain them.

Cyndia

Moncton Homes. The importance of an inspection

2010-01-08T05:42:00.001-08:00

This week one of my client put an offer on a property and on the clause of the inspection he ask me what's the importance of having an inspection done. Well I think that all buyers should have an inspection done, because there's area of a house that we don't see and could have problems. The cost of an inspector is usually around the $350.00 to $400.00 and if the inspector finds a problem usually it's more than that amount therefore and inspector will pay for itself.

Now for this client it just so happens that there was mold in the attic, one of the window wasn't working properly and the chimney has some problems. We still don't know the full amount of these repairs but like I said, the inspector paid for himself. Not only that but when it comes to mold it's a very sensitive issue, the owner wasn't aware of the problem and the buyer is not sure he wants to buy it. With this inspection clause a buyer can always walk away from the deal.

Make sure you hire a license professional inspector because sometimes people want to save a couple of hundred of dollars by asking the father or the uncle that works in construction. A worker in the industry of construction is not knowledgeable to know or make the difference of potential problems. Just like a car assembler doesn't know certain problem that a license mechanic could detect.

Cyndia

16 rue Marin, Dieppe. N.B.

2010-01-05T11:55:00.000-08:00

LOCATED IN A DESIRABLE PARC DES CIMES IN DIEPPE AND PRICED TO SELL. The open design of this 3 level home with vaulted ceiling foyer offers an open airy feel; the spacious living room, large kitchen with center island and dining area allows access to the raised deck and partially fenced backyard, three bedrooms and large family bath complete this level. The lower level consists of 2 bedrooms, bathroom and large family room. This property is landscape with paved driveway. The garage is any mans dream, very large and has its own electric panel for electricity. This property is complete and ready to move in. It would be my pleasure to show you this property, you can contact me at 506-850-2270 or via email at cyndia@live.com

The x-mas season in the Greater Moncton area

2009-12-23T10:08:00.000-08:00

The x-mas season is a very busy time of the year for most commercial business, especially retail. But lets not forget the real estate, even though people are focus on x-mas we are still selling homes during this season. Just this morning I wrote an offer for one of my clients and I'm hopping that it will be accepted by the end of the day and they are looking in moving in mid January. Now if your property is not on the market and you waiting after the holidays, maybe you just missed a potential buyer for your property. Not only that but I will be showing properties between x-mas and New Year therefore other agents to. So don't miss your opportunity to sell or if your looking to buy don't assume that the property you want will be available in the New Year. Act now!

To all the people that enjoy my Blog, thank you for reading them and I wish you all a merry x-mas from my family to yours.

Cyndia

When buying a home.

2009-12-22T08:47:00.000-08:00

When I was showing properties today it made me aware of a couple of things that maybe first time buyer don't realise. There's a lot of cost involved when purchasing a home but also there's a lot of cost maintaining a home. You see all kinds of advertising saying if you pay $800.00 a month for your rent you can afford a 155,000.00 home. (Based on a 5% down, 4.5% interest rate on a amortisation of 25 years) This is really not true. In order to buy a $155,000.00 home you need a down payment of 5% meaning $7,750.00 up front plus an inspector $400.00, legal fees could range around $ 2,000.00 and moving fees depending on how you want to do it could cost around $500.00 to $1,500.00. Therefore you would need around $12,000.00 to cover the general cost of purchasing a home. This doesn't include the fees that the phone company may request, NB Power, Cable or Satellite company, etc.

Now let say you are moved into the home and you are used to $800.00/month rent. Well now you are paying on a mortgage of $815.00 plus you need insurance, no bank will finance you if you don't have house insurance. This can range around the $700.00 a year or could be broken down into monthly payment of around $75.00 per month. If you don't pay the whole amount up front your monthly payments are more than the yearly fee. You also have the water & Sewer to pay, in the Moncton area this is approximately $55.00 to $60.00 a month. You have electricity to pay which could range around $100.00 to $180.00 per month depending on the property and the consumption you use. Some property have oil heat or natural gas and it would range around the same price. If you have a big family with a couple of kids of course your consumption will be more than just a single person. You also have to pay for property tax and for a property in the $155,000.00 price range your talking around $2,200.00/year. If I do the math we are now at around 1,285.00/month instead of your rent of $ 800.00 a difference of 485.00/month and I haven't put into consideration repairs and general maintenance. A lot of people get trapped in this situation. Make sure that when you're renting for $800.00/month you can actually afford a home of around $ 95,000.00 if you don't want to have a big impact in your lifestyle.

Another trap that people get into is when they do buy a home of let say $155,000.00 and they put the 5% down they think that the remainder of the mortgage is 147,250.00, wrong. You actually have a mortgage close to the full amount of the purchase price due to the CMHC fees. This is a mortgage insurance for the bank in case you were to default on your payment. The CMHC fee will cover all cost to the bank for a repossession. You pay for that insurance. Now let say after 6 months into the property you can't afford it due to the lack of calculation of cost of a home or just life in general, you lost your job, you have an illness of whatever. You then decide to sell your house. After 6 months, chance are that your house is worth the same as when you both it. Therefore it's worth $155,000.00 and you owe $153,000.00 but you have to calculate the penalty of getting out of that mortgage on top of what you owe. So if you had a mortgage of 5 years close, maybe you owe over $160,000.00? How are you going to sell your property at 155,000.00 if you owe more on it. Plus this doesn't cover real estate fees, legal fees, etc. Chance are the bank will take your home if you default more than 3 months of mortgage. What I'm trying to say is plan well. Make sure that your real estate agent goes through the numbers with you and your banker. Sometime it's wiser to pass on the property you really love in order to be financially healthy.

If you need help with this. I'm alway here to help you buy your home and to keep it!

Cyndia

Moncton, NB, Real Estate Agent, Realtor

2009-12-18T09:43:00.001-08:00

Like any business owner it's very important to plan for your year ahead. My business plan for 2010 is completed but now I'm asking myself, what is important for me in 2010? What experience do I want to live? It's always wise to plan your future and letting go of the past. 2009 is almost finished, it was a challanging year for me but I'm ready to let it go and embrace 2010. I sure know that my passion is real estate and to help people Buy or Sell their home. I guess my year ahead will focus on doing just that, in 2009 I've revemped my whole marketing system, I've created a new website for my company and I'm looking forward to my success in 2010. Hope you get to join me, or maybe I will be joinning you in selling or buying your home.

Cyndia,

It's always a pleasure serving the Greater Moncton Area with my real estate service!

Moncton Homes for sale

2009-12-15T09:02:00.000-08:00

Check out this video, what to consider when selling your home. http://www.youtube.com/watch?v=REC2tGDTlII

Things to consider when selling

2009-12-15T06:32:00.000-08:00

In order to have a successful sale there's many factor to consider. Over ruling just one can prevent a sale. People often think the price is a major factor, it is but all factors together is the right recipe to sell. This includes the presentation of the property, if poorly kept more often this will result in nobody wanting the property. Who want to pay to get someones problem or unfinished project? Marketing is a great factor to consider, this is where a Real Estate agent comes in to play to help you achieve the most exposure, mine is one of the best in the Moncton area. Also the timing, people tend to wait for the spring market, not always the best thing to do when a lot of people is doing the same thing. I always recommend now is the time, the buyer could be shopping for a property now. The location is extremely important, if you're located far from the city, you're in a specific market and this affects your price. The price is base on offer and demand, basic of economics. The more property on the market and less buyers, price are reduced and vice versa more buyers shopping and not a lot of inventory price are increased.

If your property has been for sale more than 3 months and you don't know why it hasn't sell, call me and I will come to your house for free and give you tips on how to get the job done.

Cyndia
506-850-2270

Moncton Real Estate Agent

2009-12-10T15:25:00.000-08:00

I was working for a client today and he was asking me about the stats for the greater Moncton area and as I was seeing the number of unit sold in 2009, of 2509 unit sold as of today. It made me thing, well how many transactions does the average real estate agent make. We are around 300 agents, well if you do the math this means the average real estate agent would make 8.36 transactions per year. I was shock as I'm making around 40 or more per year. Therefore there's a lot of agent out there not making 8 transactions a year. This would indicate to me that a lot of agent are doing something else beside selling real estate, either a full time job or something to help sustain their income. Then I started thinking about the public, would someone want to hire an agent that is only part time and not making there average sales? Maybe that would be a great question to ask before hiring an agent to sell or buy your house. Because I sure know that if I was getting operated on tomorrow I would go with the sergeant that is making over 40 operations a year compare to one that is not making 8 and is working somewhere else to sustain his income.

If you have question about the real estate market in the Moncton area. It's always my pleasure.

Cyndia

New Price!

2009-12-09T07:49:00.000-08:00

http://www.eliteadvantage.ca/listings.php Go check out this property, it just got reduced!

170-174 Victoria, Moncton, N.B. (Moncton Real Estate)

2009-12-03T08:23:00.000-08:00

170-174 Victoria, Moncton

Investment opportunity. This incredible property sits on almost 1 acre of land in the core of Down Town Moncton, one of the fastest growing cities in Canada. It includes 2 buildings, one being a duplex and rented upstairs as a residential unit and the main floor as a commercial unit. The other building is a single family dwelling with 4 bedrooms 1 ½ bath. These are from the Victorian era and they have lots of character to show. These buildings are surrounded by commercial business mainly offices and multi units dwelling. The location is perfect for commercial use. Call Cyndia for more details @ 850-2270

My website

2009-12-02T12:29:00.000-08:00

Hello everyone, my website is live go check it out!

Let me know what you think!

Moncton Real Estate Stats for November

2009-12-01T06:36:00.000-08:00

I'm sure you're all awaiting to see the numbers for November, here they are. For residential, amount of units sold 181; New Listing 260 Units; Active Listings 1556 and Value of units sold $26,275,152.00.

For non-residential, amount of units sold 27, new listings 63, active listings 1029. Value of Units sold $1,823,395.00.

Non-residential are Farm, Vacant Land and other.

Here is the break down by price category;

Under 30,000.00 2 (Units Sold)
30-39,999.00 3
40-49,999.00 3
50-59,999.00 5
60-69,999.00 7
70-79,999.00 5
80-89,999.00 7
90-99,999.00 6
100-119,999.00 22
120-149,999.00 57
150-249,999.00 51
250-349,999.00 12
350-499,999.00 1
500,000 and + 0

The bulk of the transactions are between the price of 120,000 and 249,999.00

Compare to last year are sales volume is up 34% but our year to date is down 11% Our sales volume for the month is up 31% but the sale volume for the year is down 9% This means that our month of November 2009 was much better than 2008 but our year to date indicate that we are still lower in sales volume than 2008.

I guess in conclusion we had a great month of November 2009.

Real estate in the x-mas season.

2009-11-30T06:07:00.000-08:00

Some people looses focus on x-mas season but I wish to remind you that it's very important to keep focus on selling and buying because we do sell a lot of properties during the x-mas season. I usually have a very busy month of January and can close 6 to 10 properties. For those of you that want to wait till the spring to sell maybe now would be a better time to take advantage of the market.

When to sell, I always recommend now is the time to sell. I made that mistake of waiting 2 weeks before putting a property on the market because I wanted the painters to finish their job and to make my house look better before any viewings. This property was in a rural location and very seldom did a properties sell. well go figure when I had done my Market Analysis I had 4 properties that I was competing against ( that was similar to mine) and one of them sold during those 2 weeks. I completely missed the buyer, my property wasn't even available to view because I didn't put it on the market. Even if your property is not in a perfect condition but you want to work on it's now the time, you don't want to loose the buyer that is actively looking now. I had to wait 7 months until the next buyer came in that neighborhood. The other 3 remained on the market. My price was better and my presentation a lot better but man what a costly mistake for waiting 2 weeks!

Cyndia
Always Here To Help You Buy or Sell Your Home.

Buyer in Moncton

2009-11-27T09:20:00.000-08:00

I have a buyer looking for a bungalow in the outskirts of Moncton & Dieppe. He wants PRICACY if you have or know someone that has something that fits this description please contact me asap. They would consider in town, if on a big lot.

Looking forward in hearing from you guys...

Cyndia Doucet

property for sale in Moncton by Cyndia Doucet

2009-11-24T11:28:00.001-08:00

Cyndia Doucet

2009-11-24T06:13:00.000-08:00

My website is coming out tomorrow, I can't wait for it to be live. This website will be a great source of knowledge for the Real Estate Buyer or Seller. You will be able to see the Cyndia Doucet video listing, the Cyndia Doucet Blog, the Cyndia Doucet Twitter, the Cyndia Doucet marketing plan, the Cyndia Doucet service and basically the Cyndia Doucet philosophie ;)

Cyndia Doucet beleives that in order to sell your property, you need the most exposure as possible and Cyndia Doucet marketing plan gives you just that. That way when you have many buyers interested in your property you have more control over the buyer therefore you get more money for your property.

The Cyndia Doucet service also gives you tips on how to prepare your house in order to sell it, this will generate more people wanting your property and again the seller getting more control over the buyers and getting more money for your property.

For the Cyndia Doucet service or the Cyndia Doucet marketing plan, give her a call;

Cyndia Doucet (506)850-2270

20 Humphrey, Moncton

2009-11-23T11:52:00.000-08:00

20 Humphrey in Moncton is currently on the market at $139,900.00 This beautiful property is located near the hospital and the Universite de Moncton. It has a basement apartment that brings an income of $450.00/month. The main house has sustain a lot of upgrades and is quite updated. The galley kitchen is clean, bright and sophisticated, the hardwood floors brings the character of the house but is in great condition. The upstairs has sustain a face lift and has 2 bedrooms and a loft area perfect for an office. The main floor has the living room/kitchen/dining room bathroom and bedroom. This property has a garage and a fence back yard. Call Cyndia to view or email me at cyndia@live.com for more details.

Cyndia, Always Here To Help You Buy or Sell You Home.

20 Humphrey, Moncton

2009-11-23T10:35:00.000-08:00

You will find the description of a new listing of mine located at 20 Humphrey in Moncton.

This wonderful updated 1 ½ storey has 3 bedrooms, 1 full bath, loft upstairs perfect for an office and clean sophisticated galley kitchen. Hardwood floor & ceramic tiles are to be expected. Private back yard with garage or it can be use as a storage shed. What’s wonderful about this property it brings an income of $450.00 per month with the basement apartment which has its own private entry way. This Bachelor has kitchen, bathroom, bedroom and living room comes also with access to the laundry room. For further detail call listing agent.

Cyndia Doucet

Moncton Real Estate Stats- 3rd quarter.

2009-11-19T11:44:00.001-08:00

Here are the Residential MLS Sales Activity for the Greater Moncton area.

For the 3rd quarter the sale volume for
2009 2008 % change
Greater Moncton 697(2009) 750 (2008) - 7.1%
Moncton City 315 331 - 4.8%
Dieppe City 129 113 14.2
Riverview Town 91 118 - 22.9

Average Sales Price
2009 2008 % change
Greater Moncton $ 155,535 $ 142,654 9.0%
Moncton City $ 157,461 $ 148,390 6.1
Dieppe City $ 189,609 $ 149,693 26.7
Riverview Town $160,093 $ 147,282 8.7

Our sales volume are down, less unit being sold, this leads to beleive that we are in a buyers market as there are a lot less buyers out there. Exept for Dieppe more unit sold in the last quarter compare to last year, also if you notice form last year our average sale price went up all over in the greater Moncton area and very considerably in Dieppe. This could be related to new devellopments in the Dieppe area that are more in the higher end.

For more details, or if you have any questions, you may contact me at 506-850-2270 or by email at cyndia@live.com

Cyndia

Always Here To Help You Buy or Sell Your Home.

Real Estate Stats, Greater Moncton area 3rd quarter- year to date

2009-11-19T08:06:00.000-08:00

For those that saw my video on you tube, thank you and here are the numbers that I was refering to:

MLS sales by district (Year to date):

Moncton City 828 Units (2009) 1,023 Units (2008)
Dieppe City; 353 Units (2009) 366 Units (2008)
Riverivew; 413 Units (2009) 510 (2008)

*Sales are down from last year.

Average sales price (Year to date)

Moncton City $155,227 (2009) $148,137 (2008)
Dieppe City $172,420 (2009) $154,314 (2008)
Riverview; $151,482 (2009) $148,749 (2008)

* average sale price is up, quite significant in Dieppe. Could be due to more luxirious property being sold.

Cyndia Doucet

Always Here To Help You Buy or Sell Your Home.
506-850-2270

Video listing in Moncton N.B.

2009-11-16T10:01:00.000-08:00

Video listing is something quite new; in the past couple of years agent would take pictures of the properties and have it in animation and one after the other would come up. what I decided in doing to help my client sell their homes, is mainly do a video while I'm talking about the property and I go through the house room by room and showing the lay out while giving the odiance information. You can check out my listing video on You tube or on my website which is a great tool to promote a property.

If you're want to sell your home and it's not working out, give me a try and you will see the advantage that I will bring, not only that you will get result.

Cyndia Doucet;

Always Here To Help You Buy or Sell Your Home.

2009-11-13T12:03:00.000-08:00

Here are the numbers for the month of October in the Moncton area. This will tell you how many properties sold in each price category. It's crutial to know these numbers in order to sell your property.

Under 30,000 9
30,000 - 39,999 2
40,000 - 49,999 3
50,000 - 59,999 2
60,000 - 69,999 7
70,000 - 79,999 10
80,000 - 89,999 6
90,000 - 99,999 10
100,000 - 119,999 11
120,000 - 149,999 56
150,000 - 249,999 65
250,000 - 349,999 11
350,000 - 499,999 3
500,000 + 0

For more information, call me Cyndia at 850-2270

Real Estate Stats for the Month of October in the Moncton area

2009-11-13T12:00:00.000-08:00

Check out my video, for the stats, http://www.youtube.com/watch?v=T6m91C391gw

Why hire a real estate agent #3

2009-11-12T12:44:00.000-08:00

An agent that has been in the business for many years has a great sence of the houses out there. They've been in them and know the history. They are well aware of the neighborhoods. Nothing better than to come into a property and be able to say to your clients, yes I remember this home it use to be a grow house, maybe you should be concern with the potential health hassard with this home as it could contain mold.

Any buyer wouldn't be thinking about potential hassard as that one, but we encounter so many and take so many course on differrent subject of Real Estate that you are hiring knowledge and experience. Imagine buying a home like that with a ticket price of $350,000.00???? Good luck re-saling it!

Cyndia, Alway Here To Help You Buy or Sell Your Home.

Why hire a real estate agent? #2

2009-11-12T10:45:00.000-08:00

Real estate agents acts like a buffer. They easilly screened the buyers and are able to differentiate from buyer to browser. You want to put your attention on the real buyer. Also if you're looking to buy a new construction you want a different agent that will look at your needs and not the needs of the builder. Honnestly do you think the agent will have your best interest in mind if your buying 1 house from him or he will look at the best interest of the builder who will bring him more than 20 transaction per year?

Do you're home work and don't hesitate to negotiate even if it's a new construction.

Why hire a real estate agent?

2009-11-12T06:02:00.000-08:00

There's many reason why to hire a real estate agent to buy or sell a property. Some people think they can do it on their own by doing their own online marketing etc. and many do ok but a lot don't.

Why not hire someone that knows everything you need to know in order to buy or sell? Plus they have a license to prove they can. Can you imagine if someone would take the wheel of a car without a license and say I know how to drive? They may encounter some accidents but in real estate when you encounter accidents we're talking thousand of dollars. It's a costly mistake.

I will enlist more tonight...

Cyndia, always here to help you buy or sell your home.

Moncton homes prices raised

2009-11-10T10:59:00.000-08:00

I just read an article from the New Brunswick Real Estate Association and our average sales price went up to a record in September of 7% from last year, an amount of $151, 728. Our market is much lower compared to the average National sales price of $331,602. Our Canadian market is showing an increase of 14% year after year. Quite good in these times.

While our Sales price may have gone up we have less homes selling. Our volume went down 11% meaning less homes are being sold. The real estate market is still strong and a great avenue to invest.

Cyndia,

Always here to help you buy or sell you home.

When you are buying a home....

2009-11-05T10:15:00.000-08:00

Buying A Home

Finding the perfect home doesn't happen in one day. There are a number of things you can do to simplify the process, including defining financial parameters, potential neighborhoods and the desired features in your next home.

Do you need an extra bathroom, a garage, a fenced backyard, or lower utility bills? Do you want a fireplace, a short drive to work, or maybe minimal yard work? Once your list is complete, decide what is most important to your lifestyle.

Then it's location, location, location. Location affects your day-to-day living and is one of the most significant influences on value. Your choice of location may be limited somewhat by the price you can afford. Even so, make sure you consider such things as distance to work, schools, shopping and entertainment.

What type of property do you want? A single-family detached home is attractive to many people because it typically provides more living space and land. On the other hand, a condominium may be a more appropriate choice for you, with an emphasis on maintenance-free living.

We at the ELITE TEAM can help you analyze all of these buying issues. Working as a buyer's agent, in order to help you find the connection between homes available in the market and the needs and financial capacity.

As your agent, we owe you the duties of utmost care, integrity, confidentiality and loyalty. We will use various tools to try and find properties that meet your specifications including the MLS® service. One of the important search tools will be the local MLS® system. By sitting down at a computer we can key in your needs, choice of neighborhoods and price range and immediately come up with a list of suitable properties available through the MLS® system. You can also view listings posted to the national REALTOR.ca web site.

When you select a property and decide to visit a house, there are many things to consider. Does it have all the features you wanted? Is the neighborhood what you expected? Try to picture your favorite furnishings in a room. Remember all of the technical considerations:

* what type of wiring does the house have?
* what about power outlets? Different appliances use different types.
* what type of heating system does it use?
* what about the roof and foundation?
* what condition are the windows in?
* what about the plumbing?

There are other things to look at as well. If you don't have time or don't feel comfortable doing it, home inspection services are available for a reasonable fee. Having a qualified home inspector look at the house is always a good idea. The older the home, the greater the need for professional inspection.

Once you find the house you want to make your home, work with us to develop an offer. In the offer, you should specify how much you're willing to pay. State when the offer expires, and suggest a closing date for the transaction. You can also propose some conditions on the offer. Some common types of conditions are:

* getting a suitable mortgage (include the amount, interest rates and any other figures you feel important);
* selling your current home (the seller may continue to look for a buyer, but will give you the right of first refusal);
* the seller providing a current survey, or a "real property report," showing the location of the house on the property owned by the seller and that there are no encroachments;
* the seller having title to the property (your lawyer will check this out when he or she conducts a title search to see if there are any liens on the property, easements, rights of way or height restrictions);
* if there is a septic system, the seller should have a health inspection certificate, stating the system meets local standards;
* if you still have any doubts about the home's safety and construction, you may wish to make the purchase conditional on an inspection by a qualified engineer;
* any inclusions - basically, what stays and what goes.

You will need to present a deposit along with your offer. An appropriate deposit will show your good faith to the seller. The seller's agent is bound by law to bring all offers to the seller's attention.

After your offer is accepted and all the conditions are met, the offer becomes binding on both sides. If you walk away from the deal at that point, you may lose your deposit. You may also be sued for damages. Make sure you understand and agree with all of the terms of the offer before signing.

No matter what type of home or property you're buying, plan on some extra expenses. In some provinces, you may have to pay a land transfer tax (a sales tax on property).

You'll also have to reimburse the seller for the unused portion of any prepaid property taxes or utility bills. As well, you must also pay any legal fees, and, if applicable, any REALTOR® fees. Be prepared to furnish proof to your lender that you have insured your new house as well.

Before the property can formally change hands, there are still a few things to do. On or before closing day, your lawyer and the seller's lawyer will arrange to transfer title of the property from the seller to you. The mortgage money will be transferred to your lawyer's trust account, and then to the seller, and your lawyer will bill you all additional expenses such as land transfer taxes or outstanding legal fees.

At this time, be sure to check with your lawyer that everything is as stated in the offer-to-purchase. Once you're satisfied and the keys to the front door are in your hands, there's nothing else to say... except welcome home!

Remember, Cyndia is always here to help you buy your home.

Here are the stats from NBREA

2009-11-03T17:59:00.000-08:00

Average prices climbs to new September record

The MLS® residential average price in New Brunswick set a new record for the month of September.

According to statistics provided by real estate boards in New Brunswick, the average price for MLS® home sales in September 2009 was $151,728. This is an increase of seven per cent from year-ago levels, and represents the highest average price for the month of September on record. By comparison, the national average price rose 14 per cent year-over-year to $331,602 to reach the highest average price on record.

The MLS® residential average price rose from year-ago levels in all regions of the province. Saint John and Moncton posted the largest increases in average price, climbing 11 per cent and 10 per cent year-over-year respectively. The average price for MLS® home sales also rose by a relatively more modest two per cent in Fredericton and half a per cent in Northern New Brunswick.

MLS® home sales numbered 589 units in September 2009, down 11 per cent from year-ago levels. This is a smaller decline compared to the previous month. By contrast, national MLS® sales activity increased 17 per cent from a year earlier.

“Consumer sentiment about making a major purchase, such as a home or car, strengthened through the third quarter, which bodes well for the months ahead,” said Dwayne Hayes, President of the New Brunswick Real Estate Association. “The number of new listings on the MLS® is shrinking, so sales activity will draw down inventories over the rest of the year if current trends continue.”

New residential listings declined from year-ago levels for the third consecutive month. Down four per cent from the same month last year, new listings numbered 1,229 units in September 2009. The rate of increase in the supply of homes on the market continues to slow, posting the smallest year-over-year increase in 16 months.

Active residential listings on the MLS® Systems of real estate boards in the province numbered 5,416 units at the end of September 2009, up 5.6 per cent from a year earlier -- the smallest increase this year.

New Brunswick
September 2009

MLS® Residential Dollar Volume

Total MLS® Dollar Volume

MLS® Residential Average Price

Moncton

$ 29,681,545

$ 30,919,045

$ 149,907

Fredericton

$ 22,368,208

$ 23,730,108

$ 140,681

Saint John

$ 32,213,400

$ 34,021,389

$ 176,997

Northern NB

$ 5,104,350

$ 5,864,850

$ 102,087

Provincial

$ 89,367,503

$ 94,535,392

$ 151,728

The New Brunswick Real Estate Association represents over 1,000 agents, salespeople and affiliate members throughout the province. NBREA serves its members through a wide variety of educational programs, publications and special services. The association also provides all real estate licensing courses in the province and co-regulates the industry with the Department of Justice. REALTOR® is a trademark, which identifies real estate professionals who are members of the Canadian Real Estate Association and, as such, subscribe to a high standard of professional service and to a strict code of ethics.

Important information
Please note the statistics quoted in this report do not include those of the Valley Real Estate Board in northeastern New Brunswick. The average price information quoted can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.

Cyndia Doucet Always here to help you buy or sell your home.

355 Chartersville, Dieppe,

2009-11-02T08:11:00.000-08:00

Beautiful new Listing....in the Dieppe Area.

Take full advantage of this one of a kind, 3 +1 Bedroom raise ranch located in the center of Dieppe, close to Anna-Malenfant School in Dieppe. You can enjoy the bright and sunny atmosphere of the main living area as it has lots of windows, is open concept plus has wood fire place for those cold winter nights. On the main floor you will find 3 bedrooms and full bath, the master bedroom is larger than the average home. From the dining area you have access to the screen porch which brings you to the fence back yard which contains a brand new above ground pool. Bright finished basement with wood stove, is very spacious perfect for family room/game room area. Lots of storage provided in this home and comes with a shed, mature landscape and pave driveway.

you can check it out on my website at http://cyndiadoucet2.point2agent.com/Dieppe/New_Brunswick/Homes/Chartersville/Agent/Listing_6895884.html

Canadian Real Estate Association

2009-10-30T15:23:00.000-07:00

Hi, Here are some stats from our Canadian Real Estate Association.

"MLS® home sales grow stronger in the third quarter
OTTAWA – October 15th, 2009 – National resale housing activity climbed to the highest level of any third quarter on record.

Actual (not seasonally adjusted) home sales via the Multiple Listing Service® (MLS®) Systems of Canadian real estate boards totalled 135,182 units in the third quarter of 2009, according to statistics released by The Canadian Real Estate Association (CREA). This is the highest level of activity on record for the period from July to September. The number of transactions was up 18 per cent from the third quarter of last year, representing the biggest year-over-year increase since early 2002.

Seasonally adjusted national MLS® home sales numbered 127,941 units in the third quarter, up 12 per cent from the previous quarter. Building on two previous quarterly increases, seasonally adjusted MLS® home sales activity now stands 48 per cent above the low reached in the fourth quarter last year.

"Momentum for sales activity remained strong throughout the third quarter," said CREA President Dale Ripplinger. "Low interest rates, rebounding consumer confidence and an improving overall sense of economic security continue to draw homebuyers to the housing market."

Seasonally adjusted sales activity in the third quarter was up from the previous quarter in over 80 per cent of local markets. Quarterly activity increases in Vancouver (34 per cent), Toronto (11 per cent), and Calgary (19 per cent) contributed most to the national increase in activity.

Some 42,958 homes traded hands via the MLS® Systems of real estate boards in Canada in September 2009 on a seasonally adjusted basis. This represents an increase of 1.5 per cent from August, and lifts seasonally adjusted activity 63 per cent above the low in January.

Actual (not seasonally adjusted) MLS® home sales activity remained strong throughout the quarter. Resale activity in September 2009 posted the fourth consecutive increase from year-ago levels, all of which exceeded 15 per cent. Sales numbered 42,497 in September, up 17 per cent year-over-year and a new record for the month. Year-over-year activity increases in Toronto (28 per cent) and Vancouver (124 per cent) were the driving force behind the increase in actual (not seasonally adjusted) national sales activity in September.

Climbing to $327,736, the national MLS® residential average price rose 11 per cent from the same quarter last year. The national average price continues to be skewed upward by a sustained increase in sales activity, including a sharp rebound in activity at the higher end of the price spectrum, in some of Canada’s priciest markets.

The national MLS® residential average price surpassed all previous monthly levels in September 2009, rising 13.6 per cent year-over-year to $331,602. July and August also posted new average price records for their respective months. A number of provinces set new average price records for the month of September, and Ontario posted the highest average price on record.

The price trend is similar but less dramatic for the weighted national MLS® average price, which compensates for changes in provincial sales activity by taking into account provincial proportions of privately owned housing stock. The weighted national MLS® average sale price was up 9.3 per cent year-over-year in September 2009.

On a seasonally adjusted basis, the supply of homes coming onto the MLS® market edged up in the third quarter after four consecutive quarterly declines. Seasonally adjusted MLS® residential new listings were up one per cent from the previous quarter to 199,824 units. The increase reflects a quarterly rise in the number of new listings in British Columbia and Ontario, Prince Edward Island, and Newfoundland & Labrador. New listings remained stable or continued to retreat in other provinces.

While the small rise in seasonally adjusted new listings suggests that the number of homes coming onto the market may soon begin to edge higher, the number of new listings remains well down from year-ago levels. Barring a sudden unforeseen spike in levels, new listings are likely to remain down from year-ago levels for some time.

Actual (not seasonally adjusted) new listings were down 12.5 per cent compared to the third quarter of 2008 after posting year-over-year decreases in each of the previous quarters. Newfoundland & Labrador is the only province in which new listings were up from year-ago levels.

An increase in sales activity and fewer new listings are drawing down inventories compared to year-ago levels. There were 208,215 homes listed for sale on the MLS® Systems of real estate boards in Canada at the end of September 2009, down 16 per cent from a year earlier. This is the fifth consecutive year-over-year decline in active listings, and the largest decline in more than six years.

Nationally, the number of months of inventory was 4.9 months in September 2009. This is down slightly compared to August, and remains well down from the recessionary peak of 12.8 months in January 2009. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The seasonally adjusted residential dollar volume for MLS® home sales increased 20 per cent on a quarter-overquarter basis to $42.1 billion in the third quarter of 2009, the highest level on record. New provincial records were also set in British Columbia and Ontario, which propelled the national figure to a new high.

"Monthly sales activity remained on a strong upward trajectory throughout the third quarter in British Columbia, while showing signs that it may be topping out in other provinces," said CREA Chief Economist Gregory Klump. "On balance, this suggests that sales activity may be starting to plateau after having climbed rapidly earlier this year."

"Headline average price increases over the rest of the year are expected to prompt sellers to return to the market after having retreated to the sidelines late last year and earlier this year," he added. "An increase in new listings will help keep a lid on price increases. Price increases over the rest of 2009 and early next year are likely to reflect declining average prices late last year and earlier this year."

PLEASE NOTE: The information contained in this news release combines both major market and
national MLS® sales information from the previous month. The Canadian Real Estate Association has previously released these separately.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types."

Always good to know more about our market,

Cyndia

The flu instead of Real Estate

2009-10-29T05:51:00.000-07:00

I hear so many things about the influenza flu, that I decided to write about the flu instead of real estate for this blog. I got a video clip from a friend that reside in Quebec. This video is from a doctor that works at "Le college de Medecine" located in Quebec, he has 22 years experience in the field and what he has to say is quite interesting. Sometimes we need to get the professional in the field to make an adequate decision. Unfortunately this is in French, but I know the majority is bilingual so check it out. http://www.youtube.com/watch?v=5Z-LdVK1WfU You may need to do a copy past if the link doesn't work.

Cyndia,

Alway here to help you buy or sell your home.

Looking for someone with video skills

2009-10-27T16:48:00.000-07:00

As I want to serve my sellers better, I'm looking to do mini video for their properties and I'm in need of someone that is good with filming, downloading and editing. Any suggestions?

My website

2009-10-26T14:40:00.000-07:00

I had an interesting meeting today with my website designer. I'm really looking forward in seeing the website. It will give general information on purchasing a property in the Moncton area but also on how to sell a property in the Moncton area. It will give you all the details that you need going from mortgages, inspectors and most importantly the whole process of purchasing.

Now for the Sellers in the Moncton area, it will entail all the details to look for when selling, all the factors and how to get the most out of your property. What I like about my website it will be a real estate information center for both buyers and sellers. Plus all my links will be available from Twitter, Blog, and facebook.

I'm looking forward in getting known as the best real estate agent in the Moncton area.

Cyndia Doucet,

Always Here to Help You Buy or Sell Your Home.

Moncton Real Estate Advertising Campaign

2009-10-26T07:14:00.000-07:00

I've been working in Real Estate in the Moncton area now for a while and I'm revamping my marketing plan for my sellers. I've decided to start some video tours that I will be uploading on You tube. Plus I will be doing some information on Twitter, Facebook and off course I have to go back in the Real Estate Guide. I will also doing some farming in the Dieppe area by sending post cards. I know this will promote activity on all my properties. I'm also creating a new website that will be launch in the next couple of weeks. This will promote my marketing.

Does any one of you have any suggestions on what you like or comments. I'm always interested in knowing what the public thinks.

Cyndia Doucet
Always here to help you Buy or Sell your home.

2009-10-20T17:27:00.000-07:00

Moncton Real Estate

2009-09-29T05:35:00.000-07:00

When listing your property I will now give you a video of your property that will be uploaded on Kijiji, my website, on facebook and the link will be also on MLS. This should give you ample exposure to attract your buyer.

Post cards will be sent out to your neighborhood to let everyone know that your house is available. The first video is soon to be launch. Get ready to see it in the next couple of days.

Interest rate

2009-09-28T08:39:00.000-07:00

I was checking my emails this morning and I received this from BMO. I have to say that interest rate are at an all time low and now is a great time to purchase.

Effective September 26, 2009, the 5-year variable closed rate on mortgages and Homeowner ReadilLine (HRLC) instalment arrangements will be reduced to BMO Prime Rate: 2.25%. BMO is leading the way as the first major bank to drop the rate for a 5-year variable closed term to Prime.

We’ll be advertising the mortgage offer aggressively in major markets this weekend, so get ready for lots of customer inquiries!

Also, the posted rate on the HRLC revolving arrangement has been reduced to BMO Prime Rate plus .90%

What this means for customers

There has never been a better time to bank with BMO – this is the message we are bringing to customers this weekend and through out the fall, encouraging them to consider switching to BMO. Leading with our best rate to save customers money in the long term, BMO SmartSteps to help them save money right away and AIR MILES reward miles on their debit and credit purchases anywhere they shop – we’re letting customers know that we are the best choice for their banking needs.

Customers have three great home financing offers to choose from: the 5-year variable rate closed term, 6 for 5 or a great rate on a Homeowner ReadiLine. They will look to you for help in choosing their best option.

What this means for BMO

Moving aggressively into the market with these great home financing offers gives BMO a terrific opportunity to build market share. Our national advertising campaign will ensure we are top of mind, attracting lots of customer traffic into our branches and Direct Banking.

Action required

Employees need to be aware of the following:

5-year closed variable rate at BMO Prime Rate

• Available on new, renewal, refinance and switch mortgages and new, renewal instalment HRLC

• No additional discretion. Previously announced area manager discretion is no longer available with the launch of this mortgage offer – pricing will not be permitted below BMO Prime Rate

• To ensure correct pricing for customers HRLC variable closed instalment applications will require pricing discretion to be entered on the CLS screen until October 5, due to system limitations.

Note: area manager discretion is still available on the 5-year fixed rate mortgage term, as previously advised.

6 for 5– six years peace of mind for the price of five

• Available on renewals, refinance, switch and new 6 year fixed closed mortgages and instalment HRLC

• Posted at the same rate as the 5-year fixed closed mortgage term, discretion is available through the Pricing Decision Matrix

Marketing Support

There has never been a better time to bank with BMO is being supported with significant advertising this fall:

• National coverage through print advertising September 26 to October 18 in Toronto, Vancouver, Calgary, Montreal, Halifax, Ottawa, Kitchener-Waterloo, throughout Quebec and nine ethnic publications, too.

• Internet advertising beginning Oct. 5 through Oct. 18

• bmo.com ads

• Customers with mortgages maturing November 1, will see in their renewal letter the 5-year variable rate closed featured at 2.25%

Some information from HLC

2009-09-24T05:42:00.000-07:00

Renovation

Why renovate? Well, there are many different reasons. Personal circumstances change that require your living requirements to also change, you find a puddle of water in the basement that requires immediate attention, or it is as simple as just wanting to change your surroundings.

Renovating may be more practical and a cost-efficient solution than moving if you like where you live and plan to stay there for a while, the services and facilities of the community meet your needs, and/or if your home requires improvement.

In general, there are three types of renovation: lifestyle, retrofit, and maintenance and repair.

* Lifestyle renovations improve your home and your way of life. They might involve building a sun room for pleasure, or converting unused attic space into living quarters to meet your changing needs.
* Retrofit projects usually focus on your home's shell or mechanical systems. Examples are upgrading your insulation, replacing your furnace, or putting on new siding.
* Maintenance and repair renovations protect the investment you have made in your house through activities such as caulking windows, reshingling your roof, or replacing your eavestroughs.

Getting Started

Careful planning is the key to a successful renovation. When you renovate your home, the most important decisions need to be made before the work begins. With today's housing technology, you can increase the comfort of your home significantly by making it healthier and more energy efficient. This means better living for you and also helps to protect our environment by reducing greenhouse gasses and other pollutants.

Whether you are renovating to improve your living space, or simply making necessary repairs to your home, careful planning lets you get the most from your home renovation dollars.

The first step is to set renovation goals that reflect your lifestyle and priorities. By defining what you want to achieve, the contractors and tradespeople you hire will be able to deliver better results.

There are a number of steps you should take to begin the planning process.

* First, write down your specific goals-the things you want to change in your home.
* Second, give some thought to both your current and future needs, so that renovations made today will accommodate changes in your lifestyle later.
* Third, put together a wish list of the things that must be included in the project as well as other items you would like to include, if your budget allows.

These three steps will help clarify your renovation goals and priorities - essential information when you begin talking to contractors.

Do your research and get as much information you can - Browse through display homes, go to home shows and housing seminars or workshops, get literature from your local Home Builders Association, pick up a book or a video on home renovation and talk to friends and neighbours who have renovated.

Explore all your options, mistakes are easy and inexpensive to fix during the planning stage. Mistakes on the job are not.

There are a number of questions that you can ask yourself to make sure you're heading in the right direction.

1. Is Your Renovation Practical? While maintenance renovations are not really a choice - they are part of owning a home and protecting your investment - lifestyle renovations and even some retrofit plans may not be practical or do-able.

Be clear about your expectations - determine your needs versus wants.

Almost any renovation will add to, or at least protect, the equity in your home, but kitchen and bathroom renovations and painting normally provide the greatest payback if or when you sell.

2. Are you getting your Money's Worth? Over time, the money you save on heat, light and water by making your home more energy efficient may actually pay for the upgrades.

On the other hand, if you plan to move within a few years, is the renovation worth it? Will it pay for itself in the time you plan to stay there?

3. Is your Renovation Adaptable? Look ahead, because your needs are bound to change as time goes by. Try to build the most flexibility and long-term usefulness into your design. For instance, some day you may want to convert a nursery into a home office. Installing the required wiring now will save you time and money later.

4. Are you making your home healthier? Today, Canadians are much more aware of the link between indoor environments and their health. Poor ventilation, moisture-related mold problems and many common chemicals released in the home can affect your health and well-being.

Home renovations provide the ideal opportunity to make your home a healthier place to live. This is especially important if you or a member of your household suffer from allergies, asthma or other health-related conditions that can be aggravated by poor air quality. As part of your renovation planning, you should determine whether there are any areas of your home that have moisture or air-quality problems that need attention.

Ensuring that your home is a healthy place to live will not only increase your comfort, it will protect your investment-many of the conditions that cause poor air quality can also lead to deterioration of a home's structure. A healthy house is not only better for you and your family; it also makes environmental sense by conserving resources.

Step-By-Step Guide to Renovations

From the first idea to the finished project, there's a great deal to think about when you decide to renovate. By following the eight steps listed below, you'll make sure you have answers to all the important questions, and have a well-laid plan for getting the job done.

Step 1. Set your priorities
Step 2. Know your options and limitations
Step 3. Can you afford to renovate?
Step 4. Picking your Contractor and Tradespeople
Step 5. Get it in writing
Step 6. Living through the renovation
Step 7. Safety first
Step 8. Inspect your expectations
Step 9. A job well done

Some information from CHMC

2009-09-24T05:23:00.000-07:00

Canada Mortgage and Housing Corporation
H o u s i n g M a r k e t I n f o r m a t i o n
subscribe NOW!
Access CMHC’s Market Analysis Centre publications
quickly and conveniently on the Order Desk at
www.cmhc.ca/housingmarketinformation.
View, print, download or subscribe to get market
information e-mailed to you on the day it is
released. CMHC’s electronic suite of
national standardized products is available for
free.
Table of contents
Housing mARKET oUTLOOK
Canada Edition
Housing markets will rebound
price moderated in 2008. More
recently, average prices have begun
to recover, so we only expect a mild
decrease of 0.7 per cent in 2009.
The average MLS® price is expected
to increase 1.6 per cent in 2010,
reflecting the balanced market
conditions that will prevail across
Canada.
Provincial Spotlight
Saskatchewan: Saskatchewan will
lead all provinces in economic
growth in 2009 and 2010. After
slowing late in 2008 and early 2009,
housing starts have started to
rebound in Saskatchewan and will
average 3,750 units this year.
Quebec: As a result of the
economic downturn, new home
construction will decline to 43,175
units in 2009 in Quebec. Multiplefamily
starts will decline in late 2009
and early 2010 before returning to
positive growth in mid-2010. This
will cause overall housing starts in
Quebec to moderate to 41,100 in
2010.
Housing starts: After a slow start in
2009, housing starts will rebound in
the second half of the year to average
141,900 units. In 2010 starts will
increase to 150,300 units.
Resales: Sales of existing homes
through the Multiple Listing Service®2
(MLS®)have rebounded significantly
since the start of the year. Moving
forward, the level of sales will migrate
towards levels more in line with
improving economic conditions. MLS
sales are forecast to decline from
433,990 units in 2008 to 420,700
units in 2009. Sales will remain
essentially unchanged at 419,400 in
2010.
Resale prices: After several years
of strong gains, the average MLS®
Date Released: Third Quarter 2009
2 National Outlook
4 Trends at a Glance
5 Special Report: Renovation Forecast
2009-2010
8 British Columbia
9 Alberta
10 Saskatchewan
11 Manitoba
12 Ontario
13 Quebec
14 New Brunswick
15 Nova Scotia
16 Prince Edward Island
17 Newfoundland and Labrador
19 Forecast Tables
CMHC’s Housing Market Outlook-
Canada Edition is your national sales,
marketing, and business planning tool.
1The outlook is subject to uncertainty. Although point forecasts are presented in this publication, CMHC also
presents forecast ranges and risks where appropriate. The forecasts included in this document are based on
information available as of July 23, 2009.
2Multiple Listing Service (MLS) is a registered certification mark owned by the Canadian Real Estate Association.
Overview1
2009: 141,900
2010: 150,300
2009: 420,700
2010: 419,400
Housing Starts:
Resales:
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 2
Economic Forecasts Single-detached housing
starts will increase in
2010
Over the past few years, strong
price growth for single-detached
housing has moderated the demand
for this type of housing, and
increased demand for less expensive
multi-family housing. The uncertain
economic environment in late 2008
and early 2009 contributed to the
downward trend in single starts.
However, in the second quarter of
2009, single starts rebounded in
most provinces. Over the forecast
horizon, this trend is expected to
continue as moderating prices make
the singles market more attractive.
After declining to 68,400 units in
2009, the number of singledetached
housing starts will increase
to 72,450 units in 2010.
Overall, starts of single-detached
housing will begin to recover in the
second half of 2009. Moving into
2010, all provinces will see an
increase in the number of singledetached
starts. In BC, where
employment growth is expected to
be the strongest in the country,
starts of single-detached homes will
move up to 8,100 units, the largest
percentage increase in the country.
Multi-family housing
starts will be up in 2010
Similar to the singles market, the
number of multi-family housing
starts (row, semi-detached and
apartment units) was low in the first
half of 2009, but will rebound in the
final six months of the year. There
will be 73,500 multiple unit starts in
2009. Next year, this number will
increase to 77,850 as increases in
National Housing
Outlook
In Detail
Housing starts decreased in the first
half of 2009 due to the economic
downturn and a weak job market.
While activity is forecast to pick-up
in the second half, housing starts in
2009 will decrease to 141,900 units
compared to 211,056 in 2008.
Housing starts will increase to
150,300 in 2010. Given the large
degree of economic uncertainty, we
have considered an array of
economic scenarios to generate a
range for our housing outlook in
2009 and 2010. Accordingly, we
expect starts to be between
125,000 and 160,000 units in 2009
and between 130,000 and 180,000
units in 2010.
Economic uncertainty will continue
to affect Canadian housing markets
through the end of 2009. In 2010, as
the economy gains strength and
employment growth turns positive,
residential construction will respond
with the number of housing starts
increasing 5.9 per cent.
Housing starts were down in most
provinces in the first half of the year.
While activity is expected to
rebound in the second half of 2009,
housing starts are forecast to decline
in all ten provinces in 2009 relative
to 2008. Moving forward to 2010,
growth will turn positive in most
provinces, with Western Canada
leading the way.
economic activity and employment
prop up housing demand.
At the provincial level, most
provinces will post a decrease in the
number of multi-family starts in
2009. Heading into 2010, the
majority of provinces will see growth
in multi-family construction.
MLS® sales on the
rebound
Existing home sales through the
Multiple Listings Service® (MLS®)
reached record levels in 2007, but
started to trend lower in 2008,
particularly in the final months of the
year. Since January of this year,
however, MLS® sales have
rebounded by nearly 57 per cent to
reach a seasonally adjusted annual
rate of 495,648 units in June, a level
consistent with the all-time highs
experienced in 2006 and 2007. The
strong pace seen in the second
quarter of this year reflects, in part,
activity that was delayed in the
previous two quarters and is not
likely to be sustained. The level of
sales will move back to be closer in
line with improving economic
conditions. As a result, MLS® sales
will average 420,700 units this year.
Next year, sales will remain
essentially unchanged at 419,400
transactions. As is the case for
housing starts, we have generated a
range of forecasts for MLS® sales
that reflect different economic
scenarios. For 2009, we forecast that
MLS® sales will be between
408,000 and 440,000 units. In 2010,
MLS® sales will be between
375,000 and 468,000 units.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 3
Risks to the Outlook
Given economic uncertainty, it is
important to understand the risks to
the outlook. On the downside, if the
global economy does not begin its
recovery over the next 12 months,
and the global downturn is
prolonged, this could lead to a
further decline in economic activity
in Canada. This could decrease the
demand for housing.
On the other hand, if the economy
picks up steam at a faster clip than
anticipated, due in part to fiscal
stimulus now in play, job growth
could be stronger than predicted.
This may in turn increase the
appetite for home ownership,
putting upward pressure on
housing.
Considering the risks to the outlook,
we expect that housing starts will be
in the 125,000 to 160,000 unit
range for 2009 and 130,000 to
180,000 unit range for 2010.
Existing home sales through MLS®
services will fall between 408,000
and 440,000 unit range for 2009
and 375,000 to 468,000 unit range
for 2010.
Trends Impacting
Housing
Mortgage Rates
The Bank of Canada cut the target
for the Overnight Rate in the early
months of 2009. The rate was 1.50
per cent at the start of 2009 and has
since fallen to 0.25 per cent. The
Bank of Canada has committed to
keeping the target at 0.25 per cent
through the middle of 2010 unless
inflationary pressures warrant an
increase.
Mortgage rates have fallen in the last
few months and are now expected
Resale markets will move
into balanced conditions
in 2010
The resale market began the year in
buyers’ conditions in most markets
across Canada. Slowing sales at the
end of 2008, coupled with higher
levels of new listings, moved many
markets away from the sellers’
conditions that have been dominant
over the past few years and into
buyers’ territory. However, in
recent months new listings on the
resale market have slowed while
sales have increased or remained
stable, and this is moving many
markets into balanced/sellers’
conditions. Moving forward, lower
inventory levels will put upward
pressure on prices. This in turn will
motivate households to list their
home and will prop up levels of new
listings. This will bring most markets
toward balanced conditions’ in 2010.
In 2008, the resale market saw
downward pressure on price and
declining sales. Sales in Canada’s
more expensive housing markets fell
at a faster pace than other centres,
which led to a sharp decline in the
Canadian average MLS® price.
However, in recent months this
trend has reversed, resulting in
strong price increases in the second
quarter of 2009. Moving forward
this compositional effect will have
less of an impact on the Canadian
average price. The average MLS®
price in Canada will slip 0.7 per cent
in 2009 to $301,400. In 2010 prices
will grow across Canada, averaging
$306,300, an increase of 1.6 per
cent.
to be relatively stable throughout
2009, remaining within 25-75 basis
points of their current levels.
Posted mortgage rates will gradually
increase through 2010, but will do
so at a slow pace. For 2010, the
one-year posted mortgage rate will
be in the 4.00-5.25 per cent range,
while three and five-year posted
mortgage rates are forecast to be in
the 5.50-6.75 per cent range.
Migration
Net migration (immigration minus
emigration) is forecast to fall to
about 250,000 in 2009. Net
migration has increased for the past
two years, however, lower levels of
economic activity and employment,
coupled with overall economic
uncertainty is expected to cause
migration to fall this year. In 2010,
growth in net migration will turn
positive, and will continue to fuel
demand for housing.
Employment and Income
Some 63,000 jobs were lost in the
second quarter of 2009, bringing the
decline in the first half of 2009 to
302,000. However, monthly data
show that the pace of job losses is
slowing and employment growth is
expected to turn positive early next
year. Overall employment is forecast
to decline 1.8 per cent in 2009 and
increase 0.5 per cent in 2010. The
unemployment rate will be 8.5 per
cent in 2009 and 8.8 per cent in
2010.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 4
Movements in mortgage rates are difficult to predict due to volatile economic
conditions. Nevertheless, rates are expected to remain steady this year and gradually
increase in 2010. Mortgage rates will remain very low in a historical context.
During 2008, a near record share of Canadians were employed. Due to the economic
downturn, employment is expected to decrease in 2009. The job market is expected
to turn back up in 2010.
Tight labour markets have put strong upward pressure on personal income growth in
recent years. Softer labour markets in 2009 will cause growth in wages and incomes to
slow for at least a year. By 2010, income growth will strengthen along with economic
activity.
Net migration is forecast to decrease from record levels in 2008, but will remain high.
An improving job market will favour an increase in net migration for 2010.
The low birth rate is slowing the rate of increase in the natural population (births minus
deaths). This will lessen the demand for additional housing stock in the medium and
longer term.
Sales on the resale market will slow in 2009, which will lead to a slight decline in prices.
Lower inventory levels, and increasing sales next year will move markets towards more
balanced conditions in 2010. As a result, the average MLS® price is forecast to increase
to $306,300 in 2010.
Increased competition from the condo market and modest rental construction will be
partly offset by strong rental demand due to high immigration and a large gap between
the cost of home ownership and renting. As a result, vacancy rates across Canada’s
metropolitan centres will remain relatively stable this year and next.
Trends at a Glance
Key Factors and their Effects on Residential Construction
Mortgage Rates
Employment
Income
Net Migration
Natural Population
Increase
Resale Market
Vacancy Rates
Factor Comment
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 5
Renovation spending will
decline in 2009 and rebound in
2010
From 1999 to 2008, renovation
spending progressed at a steady
pace due to the solid performance
of the Canadian economy, in
particular, the strong performance
of the housing and labour markets.
Weaker economic conditions –
including employment losses,
declining home sales and declining
home prices – will lead to a 3.0 per
cent decline in renovation spending
to $51.3 billion in 2009 from $52.8
billion in 2008. All provinces will
see weaker renovation spending,
with declines in B.C., Alberta, and
most Atlantic provinces outpacing
the national decline.
RENOVATION FORECAST: 2009 and 2010
Following 10 consecutive years of growth, renovation spending will moderate by 3.0 per cent in 2009 then rebound
in 2010. Weaker renovation spending this year reflects generally weaker economic conditions in 2009 and is driven
by declines in employment, home resales and housing starts. As economic conditions begin to recover in the second
half of 2009, these drivers will all return to growth next year, resulting in a 4 percent rebound in renovation
spending in 2010.
Resale market will support a
rebound in renovation spending
in 2010
Sales of existing homes are the
principle driving force behind
renovation spending since
households tend to renovate within
the first three years following the
purchase of an existing home.
Following several years of strong
growth and a record level of sales in
2007, the existing home market
pulled back sharply in 2008,
declining 17 per cent. This weakness
has reversed course in recent
months as improved affordability
(reflecting declines in average prices
and interest rates that remain low
by historical standards) has helped
re-invigorate demand. As a result,
the pace of decline in this market
will be a modest 3.1 per cent in
2009, and will remain essentially
unchanged in 2010. The on-going
recovery in the resale market will
help support the recovery in
renovation spending next year.
Consistent with weaker housing
demand, weaker home price growth
in 2008 and 2009 has limited the
amount of equity available to
homeowners to finance renovation
projects. Nationally, MLS® average
home prices fell 0.7 per cent in
2008 and are expected to decline
0.7 per cent again in 2009. However,
as demand in the existing home
market recovers, prices are
expected to register a 1.6 per cent
gain in 2010, which will help support
renovation spending next year.
Renovation spending will also be
supported by the introduction of
the Federal Home Renovation Tax
Credit.
Atlantic: Renovation activity
will increase by 2010
The expected slowdown in
economic growth in 2009 and
decline in resales will affect
renovation spending in 2009. A
moderate rebound in the economic
outlook in 2010 will provide for
some growth in renovation spending
in 2010 as consumers begin to feel
more comfortable with beginning
new renovation projects.
The focus will continue to be
directed at energy efficiency and will
include windows and exterior
repairs as the average age of the
housing stock in Atlantic Canada will
Renovations vs. resales
0
5
10
15
20
25
30
35
40
45
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009F
2010F
Billions of dollars
0
100
200
300
400
500
600 Thousands
Renovation spending (left scale) MLS Resales (right scale)
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 6
continue to require owners to focus
on repairs and renovations.
Although energy prices are not as
high in 2009 as they were in 2008
the longer term outlook and
expectation for prices will direct
consumers to consider efficiency as
an important requirement for the
longer term.
Although a decline is expected in
2009 for renovation spending it will
be muted by the interest shown by
consumers in the new federal tax
rebate program.
Finally, rising prices for land and
labour that have boosted the cost of
new homes will continue to shift
some demand to the existing market
which, in turn, will support
renovation activity in 2010 as home
buyers renovate after they move in.
Quebec: Renovation investment
will decline slightly in 2009 but
move back up in 2010
The recent economic context and
decline in resale activity will lead to
slightly lower renovation investment
in Quebec in 2009. However the
level of activity will continue to be
high. In the current conditions,
renovation will likely be considered
by homeowners as an alternative to
moving up. The renovation sector in
Quebec will be fueled by still
favourable borrowing conditions as
well as by government incentives.
Growth will resume next year as
the resale market moves back into
growth mode. As a result, spending
in this sector is expected to
approach $13 billion in 2009 and
over $13.5 billion in 2010.
Renovation investment in Quebec
will thus continue to surpass that of
construction by over 5 billon dollars
yearly.
Ontario: Growth in Renovation
Spending Slows
As expected, Ontario renovation
spending remained strong in 2008
growing at a rate of 4.4 per cent,
down from 11.2 per cent in 2007.
Spending on renovation projects will
moderate by 2.6 per cent in 2009
before growing by 2.5 per cent into
2010. A number of factors will
dampen the growth in renovation
spending across Ontario. Below
potential economic growth and
slowing Ontario existing home sales
will weigh on renovation spending
plans in the short and medium term.
However, a number of other factors
will provide offsetting support to the
renovation industry. Stabilizing to
slightly higher home prices through
2010 will encourage more
renovation spending. Furthermore,
repeat buyers may undertake
renovation work to prepare their
home for sale in response to a more
balanced and competitive
marketplace.
Prairies: Moderation in 2009
then up in 2010
Renovation spending within the
three Prairie Provinces will
moderate in 2009 before rising in
2010. Total expenditures are
expected to reach $7.9 billion in
2009, representing a three per cent
decline from the previous year. Last
year’s decline in existing-home sales
will be a dominant factor weighing
down expenditures in Alberta,
Saskatchewan, and Manitoba. Modest
price growth will also play a role, as
homeowners will no longer have the
advantage of hefty equity gains to
finance their renovations as they did
in previous years. Alberta will
experience the largest decline in
renovation activity from 2008, due
in part to the province’s
comparatively larger adjustment in
average price. Offsetting some of the
impact of lower sales will be the
introduction of the Federal Home
Renovation Tax Credit, which should
encourage renovation spending by
Prairie residents. Higher resale
activity and rising prices in the latter
half of 2009 and in 2010 should lead
to higher renovation spending in all
three provinces next year.
Renovation spending will rise by
almost four per cent to $8.3 billion
in 2010.
BC: Renovation Spending
Rebounds in 2010
Renovation spending in British
Columbia will decline this year and
then pick up in 2010 as resale
markets improve. Expenditures on
home renovations will total about
$6.4 billion in 2009 and
approximately $7.0 billion in 2010.
While lower than last year, the level
of renovation expenditures will be
relatively high. Consumers will pull
back their spending on home
improvements this year as fewer
people will be making changes to
recently purchased homes in a
cooler resale market. A competitive
market will encourage home sellers
to upgrade their home’s appeal
before a sale. Next year, growth in
employment and incomes, as well as
an increase in projected resales, will
boost the level of renovation
spending.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 7
Renovation and Construction Expenditure
Renovation Construction
2008 2009F 2010F 2008 2009F 2010F
Newfoundland ($ millions) 894 867 928 562 646 692
(% change) 6.9 -3.0 7.0 33.7 15.0 7.0
P.E.I. ($ millions) 185 169 182 122 113 119
(% change) 16.2 -9.0 8.0 4.3 -7.5 5.5
Nova Scotia ($ millions) 1,585 1,498 1,580 805 701 753
(% change) 6.7 -5.5 5.5 0.1 -13.0 7.5
New Brunswick ($ millions) 1,251 1,178 1,266 607 531 566
(% change) 6.5 -5.9 7.5 6.1 -12.5 6.5
Quebec ($ millions) 13,277 13,141 13,628 7,968 7,457 7,896
(% change) 7.3 -1.0 3.7 -1.7 -6.4 5.9
Ontario ($ millions) 20,621 20,075 20,577 14,464 11,571 12,998
(% change) 4.4 -2.6 2.5 3.8 -20.0 5.1
Manitoba ($ millions) 1,620 1,586 1,690 960 953 1,056
(% change) 7.0 -2.1 6.5 12.9 -0.7 10.8
Saskatchewan ($ millions) 1,426 1,424 1,510 1,219 1,075 1,157
(% change) 6.5 -0.2 6.1 40.4 -11.8 7.7
Alberta ($ millions) 5,150 4,937 5,060 8,111 5,708 6,081
(% change) 4.6 -4.1 2.5 -16.0 -29.6 6.5
British Columbia ($ millions) 6,828 6,384 6,953 8,556 6,501 7,501
(% change) 5.5 -6.5 8.9 9.2 -24.0 15.4
Canada ($ millions) 52,838 51,259 53,373 43,375 35,256 38,821
(% change) 5.6 -3.0 4.1 0.5 -18.7 10.1
Source: Statistics Canada, CMHC forecast 2009 and 2010.
2008 2009F 2010F
Alterations & Improvements 39,636 38,457 40,381
% 5.9 -3.0 5.0
Repairs 13,202 12,802 12,993
% 4.9 -3.0 1.5
Source: Statistics Canada, CMHC forecast 2009 and 2010.
(millions of dollars and annual percentage change)
Renovation Expenditure Breakdown
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 8
British Columbia
Overview
Key drivers of housing demand,
including employment and income,
are showing signs of improvement.
Housing demand from underlying
population growth should support a
stronger pace of housing starts than
in first half of 2009. Home
construction will pick up later in
2009 and in 2010 as a result of
improved economic and job growth,
low mortgage interest rates and
population growth.
The sales-to-new listings ratio has
rebounded from levels pointing to
buyers’ market conditions to levels
indicating more balanced or sellers’
conditions. Resale prices appear to
have stabilized following three
quarters of declines. The supply of
existing homes listed for sale is
trending lower while existing home
sales are increasing. Low mortgage
interest rates and lower home
prices are attracting buyers. The
latest employment data at the time
of writing this report showed that
employment picked up in April and
May, following seven months of
declines, and incomes are growing.
Housing demand will benefit from
past high levels of international
Figure 1
migration. Some new migrants
initially choose rental
accommodation and then move to
homeownership as they become
more established. Others buy
homes sooner. Vancouver is the
destination for most people moving
to the province from other
countries and the housing market
reflects this demand. The province’s
population growth will wane slightly
this year due to the lower
immigration resulting from the
general economic slowdown in
Canada and worldwide. Migration to
British Columbia will add
approximately 61,000 people this
year and 62,000 people next year.
In Detail
Single Starts: Expect an increase in
single-detached home starts in 2010
as homeownership demand picks
up. Lower land prices will spur
homebuilders to build more singledetached
homes. Levels will be
tempered by moderate migration
and high levels of unoccupied new
units in some markets such as
Kelowna.
Multiple Starts: British Columbia
will have fewer large multiple-unit
projects. Instead developers will
focus on more phased, smaller
multiple-unit projects. Lower levels
of multiple-unit starts will slow the
supply of new apartment
condominiums coming onto the
market.
Resales: Sales of existing homes will
increase as economic and job
market conditions improve, but
remain below their ten-year average
this year and next. About 72,000
existing homes will change hands
this year.
Prices: Existing home prices are
stabilizing. The average MLS price
this year will be down compared to
last year on an annual basis as a
result of declines already seen.
Prices will trend higher during the
second half of the year as resale
market conditions improve. The gap
between new home prices and
resale home prices will persist,
dampening demand for new homes
and reducing housing starts this
year.
British Columbia Starts (000s)
0
10
20
30
40
2006 2007 2008 2009(F)* 2010(F)*
Singles Multiples Source: CMHC (F): Forecast
* The point estimate for provincial total housing starts is 16,250 for 2009 and 22,000 for 2010. Economic uncertainty is reflected by the current
range of forecasts which varies from 14,300-18,900 units for 2009 and 18,600-26,150 for 2010. This forecast was completed prior to the
announcement of the Hamonized Sales Tax in British Columbia. As a result, the impact of the HST is not reflected in the forecast.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 9
Alberta
Overview
Alberta’s economy will recover in
2010. Last year’s decline in energy
prices and heightened capital costs
has resulted in the deferral of major
oil sands and upgrader projects. The
natural gas sector is also
experiencing the impact of low
prices, as exploration and
development budgets have been cut
and producing gas wells have been
recently shut-in. Adding to these
concerns, rising unemployment has
undermined domestic demand while
a weak global economy has lowered
demand for Alberta’s exports.
The Alberta economy will recover
next year, led by the re-emergence
of some deferred oilsands projects.
Lower costs for labour and
construction inputs have pulled
some of the province’s stalled
projects into profitability. Estimates
suggest that new projects can be
profitable at an oil price of $60 US
per barrel or lower, a considerable
improvement from the $100
requirement when investment was
at its peak last fall. A return to higher
housing starts and sales will also help
restore economic growth.
Recent declines in employment
should mute the rebound in
Figure 2
personal consumption. Overall
employment is on pace to decline by
more than one per cent in 2009
with only a modest rebound next
year.
Despite the weaker economic and
employment expansion, Alberta will
remain a destination of choice for
migrants through 2010 thanks to its
performance relative to other
locales. Alberta’s population
recorded the strongest growth rate
among all provinces in the first
quarter of 2009.
In Detail
Single Starts: In response to
heightened inventories and weaker
demand, single starts in the first half
of 2009 were lower than the
previous year. A modest
improvement in single starts will
continue in the second half of 2009
as price declines, and low mortgage
rates stimulate demand. In 2010,
lower inventories and a
strengthening economy will support
a healthy increase in single home
construction.
Multiple Starts: To reduce the
likelihood of escalating inventories,
builders have scaled back
production of multiple family units
significantly in 2009. Apartment
condominium starts are facing the
largest reduction, following
impressive performances in the
preceding three years. Elevated
supply levels and the cancellation of
projects will hold back the recovery
as we move into 2010. Expect a gain
in starts next year to nearly 5,250
units.
Resales: After a slower performance
early in 2009, sales are showing signs
of improvement. Recent price
declines, historically low interest
rates, and various government
incentives have helped pushed sales
higher in the last few months. This
momentum should continue, thanks
to improving economic conditions,
stabilizing house prices, and
persistently low mortgage rates. In
2010, sales are expected to increase
for the first time in four years.
Prices: Rising sales and fewer active
listings are pushing resale markets
back toward balanced conditions. As
a result, average resale house prices
have been appreciating in recent
months. These price improvements,
however, follow the declines that
occurred through the latter months
of 2008. Accordingly, 2009’s average
price will decline for the second
time in as many years. Assuming
listings continue to moderate and
sales improve, price growth will
return in 2010.
Alberta Starts (000s)
0
10
20
30
40
50
60
2006 2007 2008 2009(F)* 2010(F)*
Singles Multiples Source: CMHC (F): Forecast
* The point estimate for provincial total housing starts is 16,100 for 2009 and 18,250 for 2010. Economic uncertainty is reflected by the current range of
forecasts which varies from 14,300-18,100 units for 2009 and 15,300-21,600 for 2010.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 10
Saskatchewan
Overview
Saskatchewan will lead all provinces
in GDP growth in 2009 and 2010,
however, lower commodity prices
will restrain economic growth this
year. Last winter’s decline in oil and
gas prices has reduced drilling
activity. Despite a recent decline,
potash prices remain elevated by
historical standards and continue to
be high enough to support large
planned investments. A global
economic recovery should lift
commodity prices in 2010,
stimulating drilling activity and
increasing exports.
Labour markets remain relatively
strong. At mid-year, the province
reported an unemployment rate of
4.6 per cent, much lower than the
national average. While the
unemployment rate has been
generally higher compared to 2008,
the province is still reporting job
growth, just at a slower pace. The
slowing labour market has reduced
consumer spending. Compared to
other provinces, however, the
decrease has been modest.
A stronger labour market relative to
other locations will continue to
Figure 3
attract migrants, especially from
international sources. Interprovincial
migration gains from
Ontario will be somewhat offset by a
lower level from Alberta. Overall,
net migration through 2010 is
projected to be slightly below the
record set in 2008.
Inventory adjustments in the new
home market inhibited housing
starts late in 2008 and earlier this
year. Housing starts will move higher
in the second half of 2009 and next
year. Resale transactions have
rebounded and will continue to
improve in 2010, pushing sales to
the third highest level on record.
In Detail
Single Starts: Builders have scaled
back production in 2009 to adjust
for elevated supply levels and lower
demand. Single starts will rebound
in the remaining months of 2009.
Lower supply levels, especially in
major markets, in concert with
lower price gains and a relatively
robust economy, will set the stage
for higher starts in 2010.
Multiple Starts: Although starts have
backed off from the record-breaking
levels of 2007 and 2008, slow
absorptions have left the supply at
high levels. The reduction in multiple
starts has been particularly apparent
in Saskatoon, where supply levels
remain most elevated. Expect a
modest increase in starts in 2010,
due in part to declining inventories.
Slower price gains will also help
encourage condominium buyers and
boost demand.
Resales: Although resale activity has
seen an uptick in recent months, the
reduction in sales early in the year
will take its toll on the annual total.
In 2009, sales will be down from the
historically high volumes in 2007
and 2008, but surpass the level of
activity prior to 2007. In 2010, sales
will see an increase over 2009, as
slower price growth and a stable
economy encourages
homeownership.
Prices: In 2009, the average price will
see only a modest gain due to
elevated inventories and weaker
demand earlier in the year. A slower
pace of new listings and rising sales
should soon reduce the inventory of
active listings. This will ensure
average price increases moving
forward, but at a more restrained
pace than previous years.
Saskatchewan Starts (000s)
0 1 2 3 4 5 6 7
2006 2007 2008 2009(F)* 2010(F)*
Singles Multiples Source: CMHC (F): Forecast
* The point estimate for provincial total housing starts is 3,750 for 2009 and 4,150 for 2010. Economic uncertainty is reflected by the current range of
forecasts which varies from 3,375-4,200 units for 2009 and 3,550-4,800 for 2010.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 11
Manitoba
Overview
The Manitoba economy will weaken
in 2009, as a slowdown in personal
consumption and lower commodity
prices outweigh strength in other
sectors. Nevertheless, the province
will post one of the best economic
performances in the country
through 2010. Major capital projects
continue, offsetting some of the
weakness in retail spending. The $1.3
billion dollar Wuskwatim
Hydroelectric dam and the $265
million Human Rights Museum will
contribute to provincial GDP
through 2010.
Production gains from new nickel
and gold mines will be offset by the
closure of an existing nickel mine.
Meanwhile, spring flooding could
adversely affect the size of this year’s
crop harvest. However, the flooding
will prove advantageous for
hydropower generation. Local bus
and aerospace firms are also enjoying
demand for their products and
services.
Despite a slowing economy, the
province’s labour market will enjoy
one of the lowest unemployment
rates in Canada. However, due to the
economic environment, Manitoba
Figure 4
will experience a slight contraction
in employment in 2009 and a
moderate gain next year. Strong
additions to the labour force will
move the unemployment rate off its
record lows of recent quarters.
Net migration will remain elevated
partly as a result of Manitoba’s
Provincial Nominee program. While
it may prove difficult to achieve new
records for international
immigration, interprovincial
migration will improve. With overall
strong net migration, household
growth will exceed housing starts in
Manitoba over the forecast period.
In Detail
Single Starts: Single starts will decline
in 2009, reaching 2,950 units.
Weaker economic conditions will
hold back construction, as will the
recent rise in new home inventory.
This year’s decline in single housing
starts should help lower the volume
of units in inventory toward the end
of the year. This, combined with
modest price gains and low
mortgage rates, should contribute to
a modest rise in activity in 2010.
Multiple Starts: Due to slower
demand and elevated inventories,
builders will scale back production
in 2009. Expect 1,050 units to begin
construction this year, substantially
below the levels recorded over the
last three years. Provided
inventories get absorbed over the
coming quarters, builders will
respond by modestly increasing
production in 2010.
Resales: Residential transactions in
Manitoba will decline for the second
consecutive year in 2009 before
increasing modestly next year.
Despite the moderation, 2009 will
mark the sixth consecutive year
with more than 12,000 sales in the
province. After a weak first quarter
of 2009, sales have rebounded and
should remain elevated over the
balance of the forecast period
thanks to low mortgage rates and
modest price gains.
Prices: Due to weaker demand and
heightened listings, the average resale
price will grow at a more modest
pace compared to the previous six
years. Expect growth of four per
cent in 2009 and 2010, bringing the
average price to $206,250 next year.
A decline in active listings and a
growing economy should provide
the impetus for continued price
gains.
Manitoba Starts (000s)
0 1
2 3 4
5 6
2006 2007 2008 2009(F)* 2010(F)*
Singles Multiples Source: CMHC (F): Forecast
* The point estimate for provincial total housing starts is 4,000 for 2009 and 4,300 for 2010. Economic uncertainty is reflected by the current range of
forecasts which varies from 3,600-4,450 units for 2009 and 3,775-5,000 for 2010.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 12
Figure 5
Ontario Starts (000s)
0
20
40
60
80
2006 2007 2008 2009(F)* 2010(F)*
Singles Multiples Source: CMHC (F): Forecast
Ontario
Overview
New home starts in Ontario will
improve in the second half of 2009,
after getting off to a slow start earlier
this year. Housing starts will reach
48,675 units in 2009. A gradually
improving provincial economy,
improved financial market
conditions and low mortgage rates
will support further growth in
housing starts next year. However,
modest levels of pent-up demand
and consumer spending resulting
from moderate employment and
personal income gains are factors
that will temper Ontario’s housing
recovery.
Ontario’s economy has experienced
a downturn but the economy will
recover gradually next year. Key to a
sustainable Ontario economic
recovery is improving US business
and consumer spending and a
pickup in provincial exports which
comprise a sizable share (55%) of
Ontario’s GDP. A sustainable
economic recovery also requires
stronger business investment in the
province of Ontario. While
employment will moderate in 2009,
recent business outlook surveys
indicate that employers expect a
pickup in demand for their
products. As a result, employment
will recover in mid-2010. While a
labour market recovery lends some
support to domestic demand, fiscal
stimulus will also help.
In Detail
Single Starts: Single starts have
started to recover and will continue
to trend higher in the second half of
2009. Single starts will reach 20,150
units this year before stabilizing at
20,625 units in 2010. Although
Ontario’s single-detached housing
segment has been more sensitive to
a slowing labour market and
consumer spending, this segment
will gain support from low mortgage
rates in the immediate term.
Multiple Starts: Multi-family home
starts will also trend higher in the
remaining months of 2009, reaching
28,525 unit starts, down from just
shy of 44,000 units in 2008.
Consumer demand for less
expensive housing will provide
underlying support for multi-family
home starts in 2010. Low rental
apartment vacancy rates will keep
the construction of apartment units
high from a historical perspective.
Efforts to use scarce residential land
more efficiently will also encourage
higher density construction.
Resales: Ontario existing home sales
have staged a remarkable come back
this spring when compared to
activity in late 2008. The strong pace
seen in the second quarter of this
year reflects, in part, activity that was
delayed in the previous two quarters
and is not likely to be sustained. The
level of sales will move back closer in
line with improving economic
conditions. As a result, MLS® sales
will average 174,000 units this year.
A gradual recovery in Ontario
labour markets combined with low
mortgage rates will help stabilize
existing home sales at 166,750 units
in 2010.
Prices: After experiencing buyers
market conditions in early 2009,
Ontario resale markets have
tightened and balanced market
conditions will be restored. As a
result, Ontario existing home prices
will grow by 1.6 per cent and 0.8
per cent in 2009 and 2010,
respectively.
* The point estimate for provincial total housing starts is 48,675 for 2009 and 50,000 for 2010. Economic uncertainty is reflected by the current range of
forecasts which varies from 45,000-56,200 units for 2009 and 45,800-60,000 for 2010.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 13
Quebec
Overview
A weaker economic environment,
combined with increased supply of
homes will lower housing
construction in Quebec this year.
Despite favorable buying conditions,
housing starts will moderate to
43,175 units in 2009, while sales of
existing homes will decline to about
75,000 units. The province’s
economy and housing sector will
begin to recover in 2010.
Quebec’s economy, whose growth
went from 2.6 per cent in 2007 to
1.0 per cent last year, contracted in
the fourth quarter of 2008 and in
the first quarter of 2009. Recent
losses in the labour market
combined with the currently high
level of economic uncertainty will
continue to hold back household
spending in the near term. This, in
turn, will reduce private investment.
Moreover, exports will remain weak
in 2009 as external (foreign and
Canadian) demand weakens.
Governments have responded with
increased spending on infrastructure
projects and recent fiscal and
monetary stimulus plans. As a result,
the Quebec economy is expected to
Figure 6
recede by 2 per cent in 2009, while
job growth will register a decline of
1.1 per cent. In 2010, the economy
will grow by 1.4 per cent while the
labour market begins to recover (0.4
per cent).
In Detail
Single Starts: This segment will be
affected by the economic and financial
environment. Affordability has
become more of an issue, prompting
homebuyers to turn to the resale
market, where supply is more abundant.
As well, semi-detached and row
housing are likely to be viewed as
substitutes for single-detached
houses. Approximately 17,250 single
starts are expected in 2009 and
17,500 are expected in 2010.
Multiple Starts: In recent years,
vigorous construction of retirement
homes and condominiums brought
multi-family starts to historically high
levels in Quebec markets. Given the
fact the growth rate of the population
aged 75 and over will temporarily
slow and given current supply,
starts in this category will slow to
approximately 25,925 units in 2009
and 23,600 in 2010.
Resales: Sales of existing homes will
decline in 2009, but will remain at a
relatively high level. Demand for
condominiums will still be an important
component, but will nevertheless
decrease. The Multiple Listing
Service (MLS®) will record over
75,000 sales in 2009. Being the first
market to react to the economic
recovery, resales will amount to
77,000 in 2010.
Prices: Lower sales and higher
inventories will begin to take pressure
off prices. This should cool
price growth in the final months of
2009 and early 2010. As a result, the
average MLS® price will post growth
of 1.4 per cent to $213,700 in 2009.
Market conditions will improve
slightly in 2010, translating into
marginal price growth, as the average
MLS® price surpasses the $215,000
level.
Quebec Starts (000s)
0
20
40
60
2006 2007 2008 2009(F)* 2010(F)*
Singles Multiples Source: CMHC (F): Forecast
* The point estimate for provincial total housing starts is 43,175 for 2009 and 41,100 for 2010. Economic uncertainty is reflected by the current range of
forecasts which varies from 35,000-46,600 units for 2009 and 34,100-49,800 for 2010.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 14
New Brunswick
Overview
The current economic downturn will
continue in New Brunswick until a
global recovery begins to take hold in
2010.
The recent slowdown in nonresidential
construction activity in the
province stems from reduced
spending as projects such as the
Canaport LNG facility, the Point
Lepreau refurbishment, and the
Potash Corp. expansion are complete
or nearing completion.
Earlier this year the environment
regarding the dollar and energy prices
was better for New Brunswick
exporters. With the recent surge
upward in both, such advantages are
being removed. As well a continued
slump in the global demand for
commodities will hamper economic
growth until 2010 when markets
being to stabilize.
Current economic challenges will be
partially offset by additional spending
in 2009-2010 on infrastructure
projects at both the provincial and
municipal levels.
Furthermore, a restructuring of the
Figure 7
New Brunswick Starts (000s)
0
1
2
3
4
5
2006 2007 2008 2009(F)* 2010(F)*
Singles Multiples Source: CMHC (F): Forecast
tax system will provide significant tax
savings by 2010. Considering the
current weakness in retail spending,
this will be welcome relief for both
consumers and the economy in
general.
Several large scale capital projects have
recently been announced, including a
study into the viability of a
combination natural gas and wind
power electrical generating project for
the Saint John area, with a price tag
exceeding one billion dollars. With the
recent announcement of the
cancellation of the Eider Rock Project
in Saint John it is important to temper
the outlook until such projects are
formally announced.
As a result employment and economic
growth are expected to be modest in
2009, followed by a marginal rebound
in 2010.
In Detail
Single Starts: Demand in New
Brunswick for single family homes was
down in 2009, with fewer single starts
in each of the province’s three large
urban centres - Fredericton, Moncton
and Saint John. Expect a decline in
single starts to 2,000 units in 2009,
followed by a subsequent increase to
2,165 units in 2010.
Multiple Starts: Activity was down
during the first half of 2009.
Nevertheless, some bright spots
emerged, most notably the increase in
multiple starts in both Fredericton and
Saint John, as a result of lower vacancy
rates reported in the CMHC Rental
Market survey from last fall. The
increase in apartment starts in these
two markets was also bolstered by
several projects that were started
under the Federal Provincial
Affordable Housing Agreement.
Conversely, apartment starts have
been weak in Moncton. In addition,
semi-detached starts are expected to
decline due to a rise in the number of
new and unabsorbed units, particularly
in Moncton. As a result, expect a
moderate decline in multiple starts to
1,285 units in 2009, followed by a mild
rebound in 2010 to 1,335 units.
Resales: Favourable market conditions
have softened the impact of economic
uncertainty in 2009 as low mortgage
rates have allowed potential
homeowners, particularly first time
home buyers, to enter the market.
Nevertheless, with reduced demand,
expect MLS® sales to decline to 6,650
in 2009 with a slight increase to 6,900
in 2010.
Prices: Although sales activity is
expected to slow in 2009, prices will
continue to rise, albeit at a reduced
rate. Expect the average sale price to
rise to $150,100 in 2009 and
$155,600 in 2010.
* The point estimate for provincial total housing starts is 3,285 for 2009 and 3,500 for 2010. Economic uncertainty is reflected by the current range of
forecasts which varies from 3,000-3,650 units for 2009 and 2,950-4,000 for 2010.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 15
Nova Scotia
Overview
The Nova Scotia economy continues
to be affected by the global
economic downturn. Employment
has held up, with positive growth of
0.4 per cent to the end of June.
The retail sector is seeing declines in
2009 although a large part of the
decrease relates to declines in the
auto sector, as spending on building
supplies, clothing and furniture were
positive in the first quarter.
Earlier this year exporters were in a
better position with respect to the
Canadian dollar and energy prices.
This has been eroded by the recent
rise in both the dollar and energy
prices. Without a sustained
improvement in demand south of
the border the province’s current
and future growth prospects will be
muted.
The outlook is being supported by
the Deep Panuke project from
EnCana and other nonresidential
investment.
The westward migration of workers
has stopped for the moment which
will give Nova Scotia companies
Figure 8
Nova Scotia Starts (000s)
0
1
2
3
4
5
2006 2007 2008 2009(F)* 2010(F)*
Singles Multiples Source: CMHC (F): Forecast
greater access to the expanding
labour force which has grown three
times as much to the end of June
(+1.8%), compared to the rest of
Atlantic Canada (+0.6%).
Economic activity should begin to
improve in late 2009 as energy
related investments continue to
move from the planning to the
construction phase resulting in
positive economic growth in 2010.
In Detail
Single Starts: For two quarters of
the year, single starts trail last year’s
level. However, the year-over-year
declines are becoming less
pronounced each month and activity
is expected to improve during the
second half of the year. Single starts
are expected to total 1,950 units in
2009 before increasing to 2,000
starts in 2010.
Multiple Starts: Multiples starts in
the first six months of the year are
lower than a year ago. More activity
is expected in the third and fourth
quarters with a total of 1,100 units
by the end of the year. Multiples
starts are expected to increase to
1,325 units in 2010 in response to
demand as the economy begins to
recover.
Resales: MLS® sales in Nova Scotia
improved in the second quarter but
remain lower than the sales in the
first six months of last year.
Historically low interest rates and
buyers’ market conditions have
enticed many into the market and as
a result existing home sales are
expected to remain stable for the
remainder of the year, finishing with
9,275 sales. Existing home sales are
expected to increase in 2010 to
approximately 9,500 as economic
conditions begin to improve.
Prices: After the first six months of
the year, a decline in new listings has
contributed to an increase of 2.5
per cent in the average price of an
existing home in Nova Scotia. The
average price is expected to remain
2.4 per cent higher than last year at
$194,500 before increasing by
another 2.4 per cent in 2010 to
$199,250.
* The point estimate for provincial total housing starts is 3,050 for 2009 and 3,325 for 2010. Economic uncertainty is reflected by the current range of
forecasts which varies from 2,875-3,600 units for 2009 and 3,050-4,000 for 2010.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 16
Figure 9
PEI Starts (000s)
0.00
0.20
0.40
0.60
0.80
1.00
2006 2007 2008 2009(F)* 2010(F)*
Singles Multiples Source: CMHC (F): Forecast
Prince Edward
Island
Overview
Economic growth will decline in 2009
but as the recovery takes hold a small
rebound is forecast for 2010.
Consumer spending in Prince Edward
Island remained strong in 2008 but
the current level of activity in 2009
supports the view that spending
would be slower.
A bright spot that was anticipated in
2009 was the tourism sector, which in
spite of the recent rise in the Canadian
dollar was expected to be supported
by Canadians staying home and
travelling locally. As a result of poor
weather conditions earlier in the
summer travel season, tourism
operators are less hopeful that 2009
will turn out to be a better year than
2008.
The agriculture sector is currently
doing better as a result of higher
potatoe prices in the first quarter.
However, food manufacturing
shipments are weaker to date in 2009.
Positive growth in manufacturing, to
the end of April, has been the result of
increased activity in the aerospace
sector.
Public spending will support
economic growth over the next five
years with the potential of $510
million in capital investment. The
amount announced for the 2009-
2010 fiscal period is $129.6 million.
The two key components include
additional health care funding and
spending for highways and bridges.
The provincial economy is
experiencing a downturn in 2009 but
will recover in 2010 with the
possibility of additional upside to
growth depending on how the global
recovery takes hold in 2010 and the
extent of fiscal spending by the
provincial government.
In Detail
Single Starts: Single-detached
construction is expected to slow in
2009 before posting a modest
increase in 2010. The main factor
contributing to the aforementioned
decline is the heightened sense of
economic uncertainty, which has
caused some households to take a
wait-and-see approach before making
any large purchases. As such, the
current forecast calls for 400 single
starts in 2009, and an additional 425
units in 2010.
Multiple Starts: An increased demand
for multiple units projects targeted
towards the homeownership market,
and a low vacancy rate will keep
multiple starts strong over the next
two years. The demand for multiple
units for homeownership will be
driven in part by the rising cost of new
homes, while continued in-migration
to the Charlottetown area will help to
bolster the demand for rental units.
As a result expect to see 225 and 215
multiple units started in 2009 and
2010, respectively.
Resales: The resale market reached an
all time high in 2007, as annual sales
climbed to 1,769 units. In 2008 sales
declined to 2006 levels and the trend
of declining sales is expected to
continue in 2009, before sales post a
modest increase in 2010. It is
expected that MLS® sales will
moderate to 1,350 units in 2009
before posting a marginal increase to
1,400 units in 2010.
Prices: During the past nine years the
average price of an existing home
increased at an average rate of 7 per
cent annually. While the trend of price
growth is expected to continue, it will
not match the pace set in previous
years. One reason for the slowing
price growth is the build up of listings
that will provide potential buyers with
ample choice. The average MLS® sales
price is expected to increase to
$146,500 in 2009 with a further
increase to $151,000 in 2010.
* The point estimate for provincial total housing starts is 625 for 2009 and 640 for 2010. Economic uncertainty is reflected by the current range of
forecasts which varies from 550-675 units for 2009 and 550-700 for 2010.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 17
Newfoundland and
Labrador
Overview
The majority of spending on the
Hebron project is not expected until
after 2011. This is a year later than
previous forecasts. As a result, the
province’s economic outlook in the
near term will have to rely on other
projects such as the Hibernia South
expansion, which is expected to
begin construction in 2010.
Declines in offshore oil production will
dampen growth in 2009 and 2010. Oil
production was down 6.7 per cent (or
2.8 million barrels) for the January to
April period of this year because of a
decrease in production at the Terra
Nova field.
Spending on infrastructure in 2009-
2010 by the province will offset some
of the expected decline in private
sector spending.
Recent declines in commodity prices
continue to have an impact on the
resource sector, including iron ore and
nickel production. The closure of the
AbitibiBowater newsprint operation in
Grand Falls is also weighing on the
economic prospects for those living in
the central part of the province.
Figure 10
Newfoundland Starts (000s)
0
1
2
3
4
2006 2007 2008 2009(F)* 2010(F)*
Singles Multiples Source: CMHC (F): Forecast
The consumer, a strong supporter of
growth in 2008 through spending on
retail, auto and housing activity, is
putting off some purchases in 2009, as
evidenced by reduced levels of retail
sales.
Consumer spending is also being
impacted by the recent declines in
employment, with year-to-date
provincial employment down,
compared to the same period in 2008.
As a result of this trend, there has
been a slowdown in interprovincial
migration since the end of 2008, as
some workers wanting to return to
Newfoundland and Labrador are
having to look elsewhere for
employment.
In Detail
Single Starts: Single starts increased in
early 2009 but will moderate in the
second half of the year. Additional
growth is expected in 2010, especially
for St. John’s. Mixed provincial labour
markets will be offset by low mortgage
rates and in-migration, providing
support to the single-detached
housing market. A respectable 2,550
starts are expected in 2009, and 2,575
units will be started in 2010.
Multiple Starts: Multiple unit construction
will fare less well this year,
with 400 starts anticipated in 2009,
and 425 expected in 2010. With
higher construction costs and longer
build times, the number of singledetached
homes with basement
apartments will continue to slow, as
buyers opt for less expensive single
unit homes.
Demographic trends will continue to
stimulate the condo market, with midpriced
condo starts forecast to increase
in the coming years. Income
growth and low mortgage rates will
continue to stimulate first-time buyer
demand for semi-detached units.
Record prices should also spur additional
demand among lower income
buyers for this lower-priced housing
option in 2009 and 2010.
Resales: After record buying activity in
recent years, demand will moderate,
but remain historically high in 2009
and 2010, the forecast calls for 4,100
provincial MLS® sales in 2009, and
4,200 in 2010.
Prices: Continued demand for housing,
paired with a higher supply of
inventory throughout the province,
will see average MLS® house price
growth continue in 2009 and 2010,
albeit at a slower pace. After a record
increase in 2008, expect prices to rise
14.9 per cent to $205,000 in 2009
and 3.9 per cent to $213,000 in 2010.
* The point estimate for provincial total housing starts is 2,950 for 2009 and 3,000 for 2010. Economic uncertainty is reflected by the current range of
forecasts which varies from 2,575-3,275 units for 2009 and 2,600-3,450 for 2010.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 18
Figure 11
Canada Starts (000s)
0
40
80
120
160
200
240
2006 2007 2008 2009(F)* 2010(F)*
Singles Multiples Source: CMHC (F): Forecast
*The point estimate for the forecast of national total housing starts is 141,900 units for 2009 and
150,300 units for 2010. Economic uncertainty is reflected by the current range of forecasts which
varies from 125,000-160,000 units for 2009 and 130,000-180,000 units for 2010.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 19
2004 2005 2006 2007 2008 2009(F) 2010(F)
NFLD 2,870 2,498 2,234 2,649 3,261 2,950 3,000
% 6.6 -13.0 -10.6 18.6 23.1 -9.5 1.7
PEI 919 862 738 750 712 625 640
% 12.9 -6.2 -14.4 1.6 -5.1 -12.2 2.4
NS 4,717 4,775 4,896 4,750 3,982 3,050 3,325
% -7.4 1.2 2.5 -3.0 -16.2 -23.4 9.0
NB 3,947 3,959 4,085 4,242 4,274 3,285 3,500
% -12.1 0.3 3.2 3.8 0.8 -23.1 6.5
QUE 58,448 50,910 47,877 48,553 47,901 43,175 41,100
% 16.2 -12.9 -6.0 1.4 -1.3 -9.9 -4.8
ONT 85,114 78,795 73,417 68,123 75,076 48,675 50,000
% -0.1 -7.4 -6.8 -7.2 10.2 -35.2 2.7
MAN 4,440 4,731 5,028 5,738 5,537 4,000 4,300
% 5.6 6.6 6.3 14.1 -3.5 -27.8 7.5
SASK 3,781 3,437 3,715 6,007 6,828 3,750 4,150
% 14.1 -9.1 8.1 61.7 13.7 -45.1 10.7
ALTA 36,270 40,847 48,962 48,336 29,164 16,100 18,250
% 0.3 12.6 19.9 -1.3 -39.7 -44.8 13.4
BC 32,925 34,667 36,443 39,195 34,321 16,250 22,000
% 25.8 5.3 5.1 7.6 -12.4 -52.7 35.4
CAN* 233,431 225,481 227,395 228,343 211,056 141,900 150,300
% 6.9 -3.4 0.8 0.4 -7.6 -32.8 5.9
Source: CMHC.
(F) Forecast.
* Totals may not add due to rounding. The point estimate for the forecast of national total housing starts is 141,900 units for
2009 and 150,300 units for 2010. Economic uncertainty is reflected by the current range of forecasts which varies from
125,000-160,000 units for 2009 and 130,000-180,000 units for 2010.
(units and annual percentage change)
Table 1: Total Housing Starts
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 20
2004 2005 2006 2007 2008 2009(F) 2010(F)
NFLD 2,229 2,005 1,864 2,184 2,725 2,550 2,575
% -0.5 -10.0 -7.0 17.2 24.8 -6.4 1.0
PEI 682 634 512 573 521 400 425
% 11.3 -7.0 -19.2 11.9 -9.1 -23.2 6.3
NS 3,270 3,010 2,757 2,887 2,636 1,950 2,000
% 10.2 -8.0 -8.4 4.7 -8.7 -26.0 2.6
NB 2,970 2,665 2,445 2,733 2,519 2,000 2,165
% -5.4 -10.3 -8.3 11.8 -7.8 -20.6 8.3
QUE 28,871 23,930 21,917 22,177 19,778 17,250 17,500
% 6.0 -17.1 -8.4 1.2 -10.8 -12.8 1.4
ONT 48,929 41,682 38,309 37,910 31,108 20,150 20,625
% 2.8 -14.8 -8.1 -1.0 -17.9 -35.2 2.4
MAN 3,484 3,709 3,552 3,857 3,690 2,950 3,050
% 10.1 6.5 -4.2 8.6 -4.3 -20.1 3.4
SASK 2,193 2,425 2,689 4,017 4,518 2,750 3,000
% 4.6 10.6 10.9 49.4 12.5 -39.1 9.1
ALTA 22,487 26,684 31,835 28,105 14,716 11,700 13,000
% 2.6 18.7 19.3 -11.7 -47.6 -20.5 11.1
BC 14,056 13,719 15,433 14,474 10,991 6,650 8,100
% 14.7 -2.4 12.5 -6.2 -24.1 -39.5 21.8
CAN* 129,171 120,463 121,313 118,917 93,202 68,400 72,450
% 4.8 -6.7 0.7 -2.0 -21.6 -26.6 5.9
Source: CMHC.
(F) Forecast.
* Totals may not add due to rounding. The point estimate for the forecast of national single-detached starts is 68,400 for 2009
and 72,450 for 2010. Economic uncertainty is reflected by the current range of forecasts which varies from 61,000-77,000 units
for 2009 and from 63,000-88,000 units for 2010.
Table 2: Single-Detached Starts
(units and annual percentage change)
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 21
2004 2005 2006 2007 2008 2009(F) 2010(F)
NFLD 641 493 370 465 536 400 425
% 41.8 -23.1 -24.9 25.7 15.3 -25.4 6.3
PEI 237 228 226 177 191 225 215
% 17.9 -3.8 -0.9 -21.7 7.9 17.8 -4.4
NS 1,447 1,765 2,139 1,863 1,346 1,100 1,325
% -32.0 22.0 21.2 -12.9 -27.8 -18.3 20.5
NB 977 1,294 1,640 1,509 1,755 1,285 1,335
% -27.6 32.4 26.7 -8.0 16.3 -26.8 3.9
QUE 29,577 26,980 25,960 26,376 28,123 25,925 23,600
% 28.2 -8.8 -3.8 1.6 6.6 -7.8 -9.0
ONT 36,185 37,113 35,108 30,213 43,968 28,525 29,375
% -3.7 2.6 -5.4 -13.9 45.5 -35.1 3.0
MAN 956 1,022 1,476 1,881 1,847 1,050 1,250
% -8.2 6.9 44.4 27.4 -1.8 -43.2 19.0
SASK 1,588 1,012 1,026 1,990 2,310 1,000 1,150
% 30.4 -36.3 1.4 94.0 16.1 -56.7 15.0
ALTA 13,783 14,163 17,127 20,231 14,448 4,400 5,250
% -3.3 2.8 20.9 18.1 -28.6 -69.5 19.3
BC 18,869 20,948 21,010 24,721 23,330 9,600 13,900
% 35.5 11.0 0.3 17.7 -5.6 -58.9 44.8
CAN* 104,260 105,018 106,082 109,426 117,854 73,500 77,850
% 9.5 0.7 1.0 3.2 7.7 -37.6 5.9
Source: CMHC.
(F) Forecast.
* Totals may not add due to rounding. The point estimate for the forecast of national multiple starts is 73,500 for 2009
and 77,850 for 2010. Economic uncertainty is reflected by the current range of forecasts which varies from 63,600-83,000 units
for 2009 and from 67,000-92,000 units for 2010.
Table 3: Multiple Starts
(units and annual percentage change)
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 22
2004 2005 2006 2007 2008 2009(F) 2010(F)
NF Semi-Detached 264 151 122 133 169 75 75
Row 51 31 39 72 108 50 50
Apartment 326 311 209 260 259 275 300
Total 641 493 370 465 536 400 425
PEI Semi-Detached 76 111 62 100 59 55 50
Row 80 75 13 23 54 30 40
Apartment 81 42 151 54 78 140 125
Total 237 228 226 177 191 225 215
NS Semi-Detached 266 301 353 333 328 275 275
Row 186 265 255 221 219 225 250
Apartment 995 1,199 1,531 1,309 799 600 800
Total 1,447 1,765 2,139 1,863 1,346 1,100 1,325
NB Semi-Detached 293 391 482 530 584 470 490
Row 256 203 275 195 235 140 160
Apartment 428 700 883 784 936 675 685
Total 977 1,294 1,640 1,509 1,755 1,285 1,335
QC Semi-Detached 2,932 2,678 2,599 2,750 3,491 5,825 3,400
Row 1,109 1,074 1,343 1,934 1,918 1,600 1,600
Apartment 25,536 23,228 22,018 21,692 22,714 18,500 18,600
Total 29,577 26,980 25,960 26,376 28,123 25,925 23,600
Table 4: Housing Starts by Type (Units)
ON Semi-Detached 5,172 4,673 4,393 4,284 3,415 3,725 3,600
Row 12,824 12,537 11,046 11,255 11,212 6,425 7,775
Apartment 18,189 19,903 19,669 14,674 29,341 18,375 18,000
Total 36,185 37,113 35,108 30,213 43,968 28,525 29,375
MAN Semi-Detached 132 133 178 175 168 175 175
Row 92 161 158 198 480 200 225
Apartment 732 728 1,140 1,508 1,199 675 850
Total 956 1,022 1,476 1,881 1,847 1,050 1,250
SK Semi-Detached 184 236 123 317 251 175 175
Row 681 378 423 831 506 325 375
Apartment 723 398 480 842 1,553 500 600
Total 1,588 1,012 1,026 1,990 2,310 1,000 1,150
ALB Semi-Detached 2,916 3,012 3,807 3,699 2,125 1,400 1,675
Row 2,401 2,951 2,935 4,377 2,210 1,300 1,375
Apartment 8,466 8,200 10,385 12,155 10,113 1,700 2,200
Total 13,783 14,163 17,127 20,231 14,448 4,400 5,250
B.C. Semi-Detached 2,062 1,791 2,239 2,111 2,061 700 1,400
Row 4,387 4,459 4,476 4,175 3,926 2,100 2,500
Apartment 12,420 14,698 14,295 18,435 17,343 6,800 10,000
Total 18,869 20,948 21,010 24,721 23,330 9,600 13,900
CAN* Semi-Detached 14,297 13,477 14,358 14,432 12,651 12,865 11,340
Row 22,067 22,134 20,963 23,281 20,868 12,395 14,350
Apartment 67,896 69,407 70,761 71,713 84,335 48,240 52,160
Total 104,260 105,018 106,082 109,426 117,854 73,500 77,850
Source: CMHC (F) Forecast. * Totals may not add due to rounding.
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 23
2004 2005 2006 2007 2008 2009(F) 2010(F)
NFLD 3,265 3,211 3,537 4,471 4,695 4,100 4,200
% 0.8 -1.7 10.2 26.4 5.0 -12.7 2.4
PEI 1,500 1,449 1,492 1,769 1,413 1,350 1,400
% 6.8 -3.4 3.0 18.6 -20.1 -4.5 3.7
NS 8,887 10,948 10,697 11,857 10,874 9,275 9,500
% -3.6 23.2 -2.3 10.8 -8.3 -14.7 2.4
NB 5,979 6,836 7,125 8,161 7,555 6,650 6,900
% 8.9 14.3 4.2 14.5 -7.4 -12.0 3.8
QUE 70,669 72,670 74,192 83,847 79,402 75,400 77,000
% 2.9 2.8 2.1 13.0 -5.3 -5.0 2.1
ONT 197,353 197,140 194,930 213,379 181,001 174,000 166,750
% 7.0 -0.1 -1.1 9.5 -15.2 -3.9 -4.2
MAN 12,098 12,761 13,018 13,928 13,525 12,650 13,200
% 5.0 5.5 2.0 7.0 -2.9 -6.5 4.3
SASK 8,172 8,312 9,140 12,054 10,203 9,800 10,200
% 6.2 1.7 10.0 31.9 -15.4 -3.9 4.1
ALTA 57,460 65,866 74,350 71,430 56,399 55,250 57,000
% 11.9 14.6 12.9 -3.9 -21.0 -2.0 3.2
BC 96,385 106,310 96,671 102,805 68,923 72,000 73,300
% 3.5 10.3 -9.1 6.3 -33.0 4.5 1.8
CAN* 461,768 485,503 485,152 523,701 433,990 420,700 419,400
% 5.9 5.1 -0.1 7.9 -17.1 -3.1 -0.3
SOURCE: The Canadian Real Estate Association.
(F) Forecast by CMHC.
* Totals may not add due to rounding, excludes Territories and Nunavut. The point estimate for the forecast of national residential
resales is 420,700 for 2009 and 419,400 for 2010. Economic uncertainty is reflected by the current range of forecasts which varies from
408,000-440,000 units for 2009 and from 375,000-468,000 units for 2010.
Table 5: Total Residential Resales
(units and annual percentage change)
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 24
2004 2005 2006 2007 2008 2009(F) 2010(F)
NFLD 131,499 141,167 139,542 149,258 178,477 205,000 213,000
% 9.7 7.4 -1.2 7.0 19.6 14.9 3.9
PEI 110,815 117,238 125,430 133,457 139,944 146,500 151,000
% 8.9 5.8 7.0 6.4 4.9 4.7 3.1
NS 146,033 159,221 168,614 180,989 189,902 194,500 199,250
% 7.1 9.0 5.9 7.3 4.9 2.4 2.4
NB 112,933 120,641 126,864 136,603 145,762 150,100 155,600
% 6.7 6.8 5.2 7.7 6.7 3.0 3.7
QUE 167,546 180,529 190,348 202,392 210,775 213,700 215,100
% 12.5 7.7 5.4 6.3 4.1 1.4 0.7
ONT 245,230 262,949 278,364 299,544 302,354 307,300 309,900
% 8.1 7.2 5.9 7.6 0.9 1.6 0.8
MAN 119,245 133,854 150,229 169,189 190,296 198,000 206,250
% 11.7 12.3 12.2 12.6 12.5 4.0 4.2
SASK 110,824 122,765 132,078 174,405 224,586 232,000 238,250
% 5.6 10.8 7.6 32.0 28.8 3.3 2.7
ALTA 194,769 218,266 285,383 356,235 352,857 337,500 348,000
% 6.5 12.1 30.7 24.8 -0.9 -4.4 3.1
BC 289,107 332,224 390,963 439,119 454,599 443,000 456,200
% 11.2 14.9 17.7 12.3 3.5 -2.6 3.0
CAN* 225,678 248,343 276,095 305,707 303,607 301,400 306,300
% 9.3 10.0 11.2 10.7 -0.7 -0.7 1.6
SOURCE: The Canadian Real Estate Association.
(F) Forecast by CMHC.
* Canadian average excludes Territories and Nunavut. The point estimate for the forecast of national average price is $301,400
for 2009 and $306,300 for 2010. Economic uncertainty is reflected by the current range of forecasts which varies from
$295,000-$313,000 for 2009 and from $295,000-$330,000 for 2010.
Table 6: Average Residential Resale Price ($)
(units and annual percentage change)
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 25
2004 2005 2006 2007 2008 2009(F) 2010(F)
NFLD 0.9 -0.1 0.7 0.6 1.5 -2.7 1.2
PEI 1.2 1.9 0.6 1.0 1.3 -2.5 0.8
NS 2.6 0.2 -0.3 1.3 1.3 0.2 1.2
NB 2.0 0.1 1.4 2.1 0.9 -0.2 1.0
QUE 1.4 1.0 1.3 2.3 0.8 -1.1 0.4
ONT 1.7 1.3 1.5 1.6 1.4 -2.7 0.1
MAN 1.1 0.6 1.2 1.6 1.7 -0.1 0.5
SASK 0.8 0.8 1.7 2.1 2.2 1.7 0.7
ALTA 2.4 1.5 4.8 4.7 2.8 -1.1 0.4
BC 2.4 3.3 3.1 3.2 2.1 -2.2 1.5
CAN* 1.8 1.4 1.9 2.3 1.5 -1.8 0.5
Source: Statistics Canada.
(F) Forecast by CMHC
*The point estimate for the forecast of national employment growth is -1.8 per cent for 2009 and 0.5 per cent for 2010. Economic
uncertainty is reflected by the current range of forecasts which varies from -2.4 per cent to -1.2 per cent in 2009 and -0.1 per cent
to 1.7 per cent in 2010.
Table 7: Employment
(annual percentage change)
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 26
2004 2005 2006 2007 2008 2009(F) 2010(F)
NFLD 15.7 15.2 14.8 13.6 13.2 15.1 14.9
PEI 11.3 10.8 11.0 10.3 10.8 12.9 12.8
NS 8.8 8.4 7.9 8.0 7.7 8.9 8.5
NB 9.8 9.7 8.8 7.5 8.6 9.3 9.1
QUE 8.5 8.3 8.0 7.2 7.2 8.8 9.1
ONT 6.8 6.6 6.3 6.4 6.5 9.2 9.5
MAN 5.3 4.8 4.3 4.4 4.2 5.1 5.5
SASK 5.3 5.1 4.7 4.2 4.1 5.1 5.7
ALTA 4.6 3.9 3.4 3.5 3.6 6.4 6.9
BC 7.2 5.9 4.8 4.2 4.6 7.5 7.8
CAN* 7.2 6.8 6.3 6.0 6.1 8.5 8.8
Source: Statistics Canada.
(F) Forecast by CMHC.
*The point estimate for the forecast of national unemployment is 8.5 per cent for 2009 and 8.8 per cent for 2010. Economic
uncertainty is reflected by the current range of forecasts which varies from 8.0 per cent to 8.8 per cent in 2009 and 8.0 per cent
to 9.5 per cent in 2010.
Table 8: Unemployment Rate
(percent)
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 27
2004 2005 2006 2007 2008 2009(F) 2010(F)
NFLD -1.2 1.9 3.0 9.1 -0.1 -5.0 2.0
PEI 2.6 2.0 2.4 2.4 0.9 -1.8 1.0
NS 0.9 1.3 0.9 1.7 2.0 -1.1 1.5
NB 2.8 1.6 2.4 1.7 0.0 -1.4 1.2
QUE 2.7 1.5 1.7 2.6 1.0 -2.0 1.4
ONT 2.6 2.8 2.6 2.3 -0.4 -2.7 1.3
MAN 2.2 2.4 4.0 3.3 2.4 -0.5 1.6
SASK 5.1 3.3 -0.3 2.5 4.4 0.6 2.1
ALTA 5.3 4.8 6.1 3.1 -0.2 -2.6 2.0
BC 3.6 4.4 4.4 3.0 -0.3 -2.5 1.9
CAN* 3.1 2.9 3.1 2.7 0.5 -2.3 1.8
Source: Statistics Canada.
(F) Forecast by CMHC.
*The point estimate for the forecast of national GDP growth is -2.3 per cent for 2009 and 1.8 percent for 2010. Economic
uncertainty is reflected by the current range of forecasts which varies from -3.0 per cent to -1.5 per cent in 2009 and 1.5 per cent to
3.0 per cent in 2010.
Table 9: Gross Domestic Product
(annual percentage change)
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 28
2004 2005 2006 2007 2008 2009(F) 2010(F)
NFLD -2,359 -4,476 -3,915 -873 1,573 575 550
PEI 26 16 -111 417 1,530 575 650
NS -681 -1,831 -1,998 311 2,392 525 725
NB -241 -2,009 -2,899 968 1,145 1,350 700
QUE 36,189 29,035 27,214 31,162 36,066 40,500 41,500
ONT 102,965 102,789 83,561 85,809 87,805 82,971 88,800
MAN 3,128 -1,487 1,612 8,906 8,544 9,300 9,500
SASK -4,459 -7,481 -1,769 11,388 11,648 10,500 9,800
ALTA 35,470 62,106 70,258 43,252 64,126 46,600 51,800
BC 42,511 50,822 52,789 58,277 61,559 61,000 62,000
CAN** 212,549 227,484 224,742 239,617 276,388 253,896 266,025
Source: Statistics Canada.
(F) Forecast by CMHC.
* Sum of interprovincial migration, international migration and non-permanent residents.
** Excludes Territories and Nunavut.
Table 10: Total Net Migration *
(number of persons)
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 29
Census Metropolitan Total Housing Single- NHPI Annual MLS® MLS® Avg. Rental Vac. Rate Avg. Rent Two
Area Starts Detached % Change Sales Price (3+ Units) Bedroom (3 Units)
Victoria 2008 1,905 673 -0.1 6,171 484,898 0.5 965
2009(F) 930 570 -3.0 6,400 464,000 1.1 1,050
2010(F) 1,320 700 -1.0 6,600 470,000 1.2 1,100
Vancouver* 2008 19,591 3,634 2.3 25,149 593,767 0.5 1,124
2009(F) 9,500 2,500 -5.0 26,000 555,000 1.2 1,164
2010(F) 11,000 3,000 -1.0 27,000 575,000 1.5 1,210
Abbotsford 2008 1,285 358 n.a. 2,674 355,099 2.6 765
2009(F) 350 130 n.a. 2,300 335,000 5.0 780
2010(F) 450 180 n.a. 2,450 340,000 4.5 792
Kelowna 2008 2,257 765 n.a. 3,445 430,755 0.3 967
2009(F) 600 300 n.a. 3,300 390,000 3.0 970
2010(F) 750 400 n.a. 3,700 405,000 3.0 950
Edmonton 2008 6,615 2,613 1.0 17,369 332,852 2.4 1,034
2009(F) 4,050 2,650 -9.5 18,500 325,000 4.0 1,035
2010(F) 4,900 3,200 1.5 19,000 335,000 3.5 1,070
Calgary 2008 11,438 4,387 0.6 23,136 405,267 2.1 1,148
2009(F) 4,800 3,600 -7.8 22,800 383,000 4.0 1,075
2010(F) 5,400 4,000 1.0 23,500 395,000 3.5 1,100
Saskatoon 2008 2,319 1,288 20.6 3,540 287,803 1.9 841
2009(F) 1,050 700 -8.0 3,450 275,000 2.0 870
2010(F) 1,200 800 0.0 3,600 280,000 3.0 875
Regina 2008 1,375 979 26.2 3,338 229,716 0.5 756
2009(F) 1,050 750 4.8 3,300 250,000 1.2 800
2010(F) 1,150 800 0.0 3,450 265,000 2.0 825
Winnipeg 2008 3,009 1,930 10.2 11,854 196,940 1.0 769
2009(F) 1,950 1,450 2.5 11,125 205,000 1.0 800
2010(F) 2,100 1,500 3.0 11,500 213,000 1.2 825
Thunder Bay 2008 167 165 5.5 1,649 139,301 2.2 719
2009(F) 175 145 1.5 1,320 149,750 1.6 730
2010(F) 210 155 2.0 1,295 155,500 2.0 745
Sudbury 2008 543 469 5.5 2,396 211,614 0.7 800
2009(F) 375 200 1.5 1,800 197,000 1.5 840
2010(F) 365 195 2.0 1,710 188,000 1.3 880
Windsor 2008 453 328 -2.2 4,546 159,709 14.6 772
2009(F) 260 180 0.1 4,100 154,000 17.0 750
2010(F) 340 225 0.5 4,100 155,000 14.0 760
Sources: CMHC, Canadian Real Estate Association, Local Real Estate Boards, Statistics Canada.
*MLS® sales and prices for the Vancouver CMA refer only to the Real Estate Board of Greater Vancouver (REBGV) board area, which does not include Surrey, Langley,
White Rock, and North Delta.
n.a.: Data not available. (F) Forecast by CMHC.
Table 11a: Local Market Indicators
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 30
Census Metropolitan Total Housing Single- NHPI Annual MLS® MLS® Avg. Rental Vac. Rate Avg. Rent Two
Area Starts Detached % Change Sales Price (3+ Units) Bedroom (3 Units)
London 2008 2,385 1,369 3.0 8,620 212,092 3.9 834
2009(F) 1,500 650 1.4 7,800 214,200 4.4 840
2010(F) 1,550 800 0.0 7,450 215,275 4.2 845
Kitchener 2008 2,634 1,446 2.0 6,269 271,222 1.8 845
2009(F) 2,020 1,050 0.0 5,700 272,500 1.6 860
2010(F) 2,170 1,100 0.0 5,600 273,000 1.5 875
St.Catharines- 2008 1,138 680 4.3 5,896 203,648 4.3 777
Niagara 2009(F) 850 410 -1.0 5,400 205,000 4.0 790
2010(F) 950 450 0.0 5,500 206,000 4.0 800
Hamilton 2008 3,529 1,675 3.1 12,110 280,790 3.2 836
2009(F) 1,935 750 2.8 11,630 286,405 2.9 850
2010(F) 2,000 750 3.0 11,165 289,270 3.0 865
Toronto 2008 42,212 11,308 3.5 76,387 379,943 2.0 1,095
2009(F) 28,300 7,200 -1.5 78,000 384,120 1.8 1,120
2010(F) 29,000 7,600 -1.0 72,000 387,190 1.7 1,140
Barrie 2008 1,416 858 n.a. 4,058 264,034 3.5 954
2009(F) 350 220 n.a. 3,800 264,000 3.0 965
2010(F) 365 230 n.a. 3,630 265,300 3.0 965
Peterborough 2008 428 300 n.a. 2,506 230,656 2.4 850
2009(F) 350 240 n.a. 2,100 228,000 2.2 870
2010(F) 370 255 n.a. 2,080 230,000 2.0 890
Brantford 2008 432 283 n.a. 2,097 218,890 2.4 752
2009(F) 230 190 n.a. 1,800 215,000 2.2 760
2010(F) 295 215 n.a. 1,700 217,000 2.2 770
Guelph 2008 1,087 425 n.a. 2,794 267,329 2.3 869
2009(F) 470 250 n.a. 2,550 267,500 2.0 885
2010(F) 535 275 n.a. 2,500 267,700 1.9 900
Oshawa* 2008 1,987 1,500 n.a. 8,797 273,984 4.2 889
2009(F) 930 680 n.a. 8,000 272,400 3.7 905
2010(F) 1,280 880 n.a. 7,700 274,000 3.3 920
Kingston 2008 672 546 n.a. 3,473 235,047 1.3 880
2009(F) 645 400 n.a. 3,150 234,500 1.2 905
2010(F) 590 430 n.a. 3,050 236,000 1.9 930
Sources: CMHC, Canadian Real Estate Association, Local Real Estate Boards, Statistics Canada.
MLS® data for St. Catharines-Niagara is aggregated using total numbers of the area's three real estate boards.
*MLS® numbers reflect all of Durham Region.
n.a.: Data not available. (F) Forecast by CMHC.
Table 11b: Local Market Indicators
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 31
Census Metropolitan Total Housing Single- NHPI Annual MLS® MLS® Avg. Rental Vac. Rate Avg. Rent Two
Area Starts Detached % Change Sales Price (3+ Units) Bedroom (3 Units)
Ottawa 2008 6,998 2,956 3.8 13,908 290,483 1.4 995
2009(F) 5,300 2,300 1.2 13,700 294,000 1.0 1,025
2010(F) 5,450 2,350 1.5 13,600 296,500 0.8 1,065
Gatineau 2008 3,304 1,120 3.1 4,390 186,212 1.9 677
2009(F) 2,910 960 1.2 4,025 192,800 2.3 690
2010(F) 2,850 850 1.5 3,925 197,500 2.5 705
Montréal 2008 21,927 6,602 4.9 40,440 258,028 2.4 659
2009(F) 17,900 4,800 2.6 37,400 263,000 2.1 668
2010(F) 18,900 5,400 2.5 39,000 263,700 2.4 675
Trois-Rivières 2008 1,148 373 n/d 799 141,610 1.7 505
2009(F) 850 325 n/d 765 144,500 1.8 515
2010(F) 810 300 n/d 750 148,800 2.0 525
Sherbrooke 2008 1,627 802 n/d 1,864 179,434 2.8 543
2009(F) 1,550 730 n/d 1,790 183,000 3.0 555
2010(F) 1,525 750 n/d 1,880 186,600 3.1 565
Québec 2008 5,457 2,031 5.3 8,003 193,195 0.6 653
2009(F) 4,800 1,725 5.0 7,450 202,850 0.6 663
2010(F) 4,300 1,450 5.0 7,800 208,950 0.8 673
Saguenay 2008 869 400 n/d 1,557 150,597 1.6 518
2009(F) 525 275 n/d 1,400 158,000 2.0 530
2010(F) 850 300 n/d 1,400 165,000 2.0 540
Saint John 2008 832 488 2.5 2,166 158,117 3.1 618
2009(F) 675 375 4.0 1,750 166,000 2.8 630
2010(F) 725 400 2.0 1,800 172,500 2.5 645
Moncton 2008 1,359 566 2.5 2,663 143,173 2.4 656
2009(F) 960 400 4.0 2,200 145,500 2.5 670
2010(F) 1,050 450 2.0 2,350 149,000 3.0 690
Halifax 2008 2,096 1,180 7.9 6,205 229,916 3.4 833
2009(F) 1,675 900 2.2 5,450 237,500 3.5 850
2010(F) 1,980 1,000 2.0 5,850 243,500 3.3 865
St. John's 2008 1,863 1,485 19.6 3,835 187,571 0.8 630
2009(F) 1,675 1,375 15.0 3,450 215,000 1.0 700
2010(F) 1,800 1,450 5.0 3,575 225,500 1.5 725
Charlottetown 2008 426 280 1.4 595 175,231 2.3 672
2009(F) 400 225 1.0 565 182,250 2.0 715
2010(F) 400 250 1.5 590 187,000 1.8 735
ALL LISTED 2008 156,783 56,262 3.4 324,699 322,845 2.2 847
CENTRES 2009(F) 101,890 39,605 -3.1 314,270 324,856 2.2 864
2010(F) 108,930 43,090 0.5 312,800 330,035 2.3 882
Sources: CMHC, Canadian Real Estate Association, Local Real Estate Boards, Statistics Canada.
MLS® data for St. Catharines-Niagara is aggregated using total numbers of the area's three real estate boards.
*MLS® numbers reflect all of Durham Region.
n.a.: Data not available. (F) Forecast by CMHC.
Table 11c: Local Market Indicators
Housing Market Outlook - Canada Edition - Date Released: Third Quarter 2009
Canada Mortgage and Housing Corporation 32
2007Q3 2007Q4 2008Q1 2008Q2 2008Q3 2008Q4 2009Q1 2009Q2
New Housing
Building permits, units, thousands 244.0 238.8 215.9 228.6 208.4 168.0 128.9 146.7
% change 11.6 -4.4 -11.5 -4.3 -3.5 -26.5 -38.2 -12.7
Housing starts, total, thousands 241.0 217.6 235.1 217.6 207.7 184.9 139.4 128.1
% change 7.0 -4.5 -2.4 0.0 -11.7 -15.0 -32.9 -30.7
Housing starts, singles, thousands 119.8 116.4 99.1 96.6 93.9 84.3 62.0 63.7
% change 0.8 -2.3 -17.3 -17.0 -5.2 -12.7 -34.0 -24.4
Housing starts, multiples, thousands 121.2 101.2 136.0 121.0 113.8 100.6 77.4 64.4
% change 13.9 -6.9 12.2 19.6 -16.3 -16.9 -32.0 -36.0
Housing completions, total, 56,042 55,814 44,261 52,688 58,197 58,991 39,378 46,636
% change 20.5 10.5 -21.0 -5.6 31.5 12.0 -32.3 -20.9
New house price index, 1997=100 155.0 156.3 158.0 158.4 158.6 157.7 155.4 153.5
% change 4.3 2.9 1.9 1.4 0.4 -0.5 -2.0 -2.7
Existing Housing
MLS® resales, units, thousands 512,688 513,820 480,532 463,352 446,812 346,712 347,260 456,692
% change -3.8 -4.0 -6.3 -9.8 -7.0 -25.2 -22.3 31.7
MLS® average resale price, $C 308,469 318,623 314,581 309,784 297,923 287,832 285,453 305,230
% change 5.2 4.9 2.0 -2.8 -5.3 -7.1 -4.2 6.0
Mortgage Market
1-year mortgage rate, per cent* 7.05 7.27 7.25 6.68 6.75 6.10 4.83 3.85
5-year mortgage rate, per cent* 7.22 7.46 7.29 6.93 6.95 7.05 5.71 5.45
Residential Investment**
Total, $1997 millions 81,015 81,930 80,656 80,548 79,535 74,439 70,191 n.a.
% change 1.2 1.3 -0.4 -1.7 -1.4 -7.6 -11.7 n.a.
New, $1997 millions 37,135 37,387 36,946 36,729 36,203 35,462 31,756 n.a.
% change 1.5 1.6 -0.5 -1.8 -2.0 -3.4 -12.3 n.a.
Alterations, $1997 millions 32,516 33,092 33,664 33,544 33,612 32,200 31,956 n.a.
% change 2.7 3.3 3.5 1.4 -0.2 -4.0 -4.9 n.a.
Transfer costs, $1997 millions 11,980 12,112 11,044 11,228 10,784 8,096 7,912 n.a.
% change -2.6 -2.9 -7.8 -7.3 -2.4 -27.9 -26.6 n.a.
Deflator, 1997=100 135.5 136.9 137.4 138.2 138.6 138.4 136.3 n.a.
% change 3.4 2.3 1.4 1.0 0.8 0.1 -1.7 n.a.
Sources: CMHC, Statistics Canada, Bank of Canada, Canadian Real Estate Association.
n.a.: Data not available.
Table 12: Major Housing Indicators
(levels and quarterly percent change)
* All indicators are seasonally adjusted and annualized except the New house price index and the Residential Investment deflator which are
only seasonally adjusted and Housing completions and the 1-year and 5-year mortgage rates which are not adjusted or annualized.
** Residential Investment includes outlays for new permanent housing, conversion costs, cost of alterations and improvements,
supplementary costs, and transfer costs.
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61500_2009_Q03

Craigs List

2009-09-23T17:38:00.000-07:00

Did you know that Craig list is an ideal way to advertise your home in the states. Canadian also uses it but it seems that www.kijiji.com is our way, or at least in the maritime it is very popular. I want to take a minute to write about for sale by owners. There are many ways to sell your house and I come across a lot of for sale by owner. The number one reason they want to sell their home by themselves is mainly to save money. What I find is it usually cost them more money because they work their way up to the final product that works (Realtor), and each step they take cost them money and aggravations.

For example I met this nice couple who want to sell their home, off course they started with a sign on their lawn, next thing you know their neighbor (not a real estate professional) suggest them a website, kijiji.ca so now they are taking pictures and doing all kinds of advertising. They are trying to show their property to potential buyers, not even knowing if they are qualified for a mortgage. Then this doesn't work they try property guys, thinking they will save thousand of dollars as advertised on their site. The only think that they are not told, is they don't have any buyers nor do they work with them. They don't tell them that they will just take a couple of pictures of their property and advertise it on one website either because their cost would look ridiculous therefore they compare themselves to real estate agent in order to justify their high price/or low cost. After paying over $1,000.00 and having their property for sale for over 8 months, they don't know what to do.

Here is a common example of a For Sale By Owner. Here is how I work, I take care of the whole transaction for you. I advertise your home on over 80 different websites, plus I'm licensed and can tell you how much your house is worth on our current market. I show your house in a professional manner to qualified buyers. I have qualified buyers, go figure I work with them. Plus I can write the Purchase & Sale for you, which is a legal contract. I help you prepare your house for the sale. I pay for the marketing, actually I pay for everything and you only pay me if I'm successful in selling your house.

I think this is fair, you don't pay nothing unless the job is done right. Off course if the job is done right it cost money, but you are dealing with a professional part of an organization which has rules and regulation that are created in order to protect the public.

Let me know what you think!!!!

Should I Purchase My Home Now or Wait for the Market to Stabilize?

2009-09-18T08:44:00.000-07:00

Should I Purchase My Home Now or Wait for the Market to Stabilize?
Many people are debating whether they want to buy a property now or whether they should wait. They are getting mixed messages from the media about the market conditions and the state of the economy. Reports are indicating that the real estate market is rebounding. However, we are still hearing negative news about businesses folding and job losses. So is now a good time to buy?

The decision whether to buy a home now or wait is very tricky at the moment. On the one hand you have very low mortgage rates as the Bank of Canada had cut the interest rate several times in the last few months to try and get the banks lending again. Deals as low as 2.75% are being advertised to entice new customers into the market and get the chain moving again. Also, property prices have dropped in the last year and there are many good deals to be made.

On the other hand, there is still the question whether housing market prices will hold or drop further. Potential buyers are wary about taking on such a huge borrowing to find that the dream house they have just bought may be worth appreciatively less in six months’ time.

House prices are cyclical. A low market is always a good time to buy even though it may be several years before the market rebounds. The property market will rebound. If you are in a position to buy a house and can afford the repayments, buy now. Waiting to buy could result in paying much higher prices in a rising market.

Are you really ready?
It is also important to consider how long you will be in the home that you are about to purchase. Once you buy the home, it may be very difficult to resell right now. If the market continues to drop and you end up moving and selling in a year, you may have been wiser to wait a bit longer. So that is something that you want to make sure that you consider when making the decision to purchase a home.

Of course, if you have a long-term plan to be in the home, the fluctuations and potential decrease in value in the near term doesn’t need to get you down, as the only price that matters is the price you are able to sell for when you need or want to move.

Another thing that you need to think about is if you can afford the home that you are considering buying. While prices have dropped recently, you want to make sure that you find a home that is going to fit your budget. As a precautionary measure you should also budget for the fact that the cost of living might rise even further, and that being able to afford these increases will be important.

If you have the funds available for a down payment and you are eligible for a mortgage, and feel comfortable about your job security, and currently meeting the rising costs of living fairly easily; then the time is probably right for purchasing property. It is still a buyer’s market, so find your dream home, negotiate your best deal and jump in. Buying property now is one of the best times in the last hundred years to get a bargain.

2009-09-17T08:31:00.001-07:00

When buying a home... what you need to know.

2009-09-16T05:15:00.000-07:00

What do you need to know when buying a new home. Firstly what I would recommend is to choose a Real Estate Salesperson that you feel comfortable with and someone that has been in the business for at least 2 years. Have a meeting with that person and they will go through the ins and outs of purchasing a new home. One thing that is important, you need to know how much you can afford and a good mortgage broker or bank should be able to do this for you.

Take into consideration that when buying a home there are cost involved, for example; your down deposit usually 5% of the purchase price, plus and inspector approxiatly $350.00 and also your lawyer; your lawyer could cost around $1,000.00 plus the transfer tax and document registration, the total could go up to $2,000.00 or more depending on the sale price of the property. If you need movers or moving trucks, connection cost for phone, cable/satellite, electricity, etc. You have to plan for those extra cost also. Don't be fooled by the 0% down and thinking there's no cost in buying a home.

Off course the next step would be to decide what type of property you want, the location, what features, how many bedrooms or bathrooms, would you like a garage etc. Make sure that you have a clear idea of what you want because there's a lot of homes out there and it can get confusing quickly. One more thing have a set date that you would like to move, this will help narrow things down.

Off course if you want more information I would be happy to help you,

Cyndia

Housing starts increasing

2009-09-15T04:50:00.000-07:00

OTTAWA, September 9, 2009 — The seasonally adjusted annual rate1 of housing starts increased to 150,400 units in August from 134,200 units in July, according to Canada Mortgage and Housing Corporation (CMHC).

“Housing starts are trending higher, reflecting improvements in both the single and multiple segments,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “The improvement in housing starts is consistent with our expectation of a stronger second half for 2009.”

The seasonally adjusted annual rate of urban starts increased by 14.0 per cent to 131,800 units in August. Urban multiple starts increased by 23.8 per cent to 77,600 units, while urban single starts moved up 2.5 per cent to 54,200 units in August.

August’s seasonally adjusted annual rate of urban starts increased by 56.0 per cent in British Columbia, by 16.1 per cent in the Prairies, by 13.8 per cent in Ontario, by 9.6 per cent in Atlantic Canada, and by 2.5 per cent in Quebec.

Rural starts were estimated at a seasonally adjusted annual rate of 18,600 units in August2.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge support and assist consumers and the housing industry in making vital decisions.

2008 Canadian Housing Observer

Corporate Information > Newsroom > News Releases > 2009 > Housing Starts Increase in August
Housing Starts Increase in August

OTTAWA, September 9, 2009 — The seasonally adjusted annual rate1 of housing starts increased to 150,400 units in August from 134,200 units in July, according to Canada Mortgage and Housing Corporation (CMHC).

“Housing starts are trending higher, reflecting improvements in both the single and multiple segments,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “The improvement in housing starts is consistent with our expectation of a stronger second half for 2009.”

The seasonally adjusted annual rate of urban starts increased by 14.0 per cent to 131,800 units in August. Urban multiple starts increased by 23.8 per cent to 77,600 units, while urban single starts moved up 2.5 per cent to 54,200 units in August.

August’s seasonally adjusted annual rate of urban starts increased by 56.0 per cent in British Columbia, by 16.1 per cent in the Prairies, by 13.8 per cent in Ontario, by 9.6 per cent in Atlantic Canada, and by 2.5 per cent in Quebec.

Rural starts were estimated at a seasonally adjusted annual rate of 18,600 units in August2.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

Cyndia Doucet
(506)850-2270
cyndia@live.com

Thinking About Buying Your First Home?

2009-09-11T06:44:00.000-07:00

Thinking About Buying Your First Home?

Thinking about purchasing a home of your own? Keep these critical considerations in mind:

How long you plan to live in the home.
If you purchase a home and get a job transfer or decide to move after only a short time, you may end up paying money in order to sell it. The value of your home may not have appreciated enough to cover the costs that you paid to buy the home and the costs that it would take you to sell your home.

HappyPeople03.jpgThe length of time that it will take to cover those costs depends on various economic factors in the area of the home. Most parts of the country have an average of 5% appreciation per year. In this case, you should plan to stay in your home at least 3-4 years to cover buying and selling costs. If the area you buy your home in experiences an economic up turn, the length of the time to cover these costs could be shortened, and the opposite is also true.

How long the home will meet your needs.
What features do you require in a home to satisfy your lifestyle now? Five years from now? Depending on how long you plan to stay in your home, you'll need to ensure that the home has the amenities that you'll need. For example, a two-bedroom dwelling may be perfect for a young couple with no children. However, if they start a family, they could quickly outgrow the space. Therefore, they should consider a home with room to grow. Could the basement be turned into a den and extra bedrooms? Could the attic be turned into a master suite? Having an idea of what you'll need will help you find a home that will satisfy you for years to come.

Your financial health - your credit and home affordability.
Is now the right time financially for you to buy a home? Would you rate your financial picture as healthy? Is your credit good? While you can always find a lender to lend you money, solid lenders are more skeptical if your credit history is not good. Generally, a couple of blemishes on a credit report will make you a good credit risk and could qualify you for the lowest interest rates. If you have more than a couple of blemishes on your report, lenders like Quicken Loans may still provide you with a loan, but you may just have to pay a higher interest rate and fees.

Some say that you should refrain from borrowing as much as you qualify for because it is wiser not to stretch your financial boundaries. The other school of thought says you should stretch to buy as much home as you can afford, because with regular pay raises and increased earning potential, the big payment today will seem like less of a payment tomorrow. This is a decision only you can make. Are you in a position where you expect to make more money soon? Would you rather be conservative and fairly certain that you can make your payment without stretching financially? Make sure that whatever you do, it's within your comfort zone.

To determine how much home you can afford, talk to a lender or go online and use a "home affordability" calculator. Good calculators will give you a range of what you may qualify for. Then call a lender. While some may say that the "28/36" rule applies, in today's home mortgage market, lenders are making loans customized to a particular person's situation. The "28/36" rule means that your monthly housing costs can't exceed 28 percent of your income and your total debt load can't exceed 36 percent of your total monthly income. Depending on your assets, credit history, job potential and other factors, lenders can push the ratios up to 40-60% or higher. While we're not advocating you purchase a home utilizing the higher ratios, its important for you to know your options.

Where the money for the transaction will come from.
Typically homebuyers will need some money for a down payment and closing costs. However, with today's broad range of loan options, having a lot of money saved for a down payment is not always necessary - if you can prove that you are a good financial risk to a lender. If your credit isn't stellar but you have managed to save 10-20% for a down payment, you will still appear to be a very good financial risk to a lender.

The ongoing costs of home ownership.
Maintenance, improvements, taxes and insurance are all costs that are added to a monthly house payment. If you buy a condominium, townhouse or in certain communities, a monthly homeowner's association fee might be required. If these additional costs are a concern, you can make choices to lower or avoid these fees. Be sure to make your realtor and your lender aware of your desire to limit these costs.

If you are still unsure if you should buy a home after making these considerations, you may want to consult with an accountant or financial planner to help you assess how a home purchase fits into your overall financial goals.

Cyndia Doucet
(506)850-2270
cyndia@live.com