Scarlett Li's Real Estate E-Newsletter

GTA RE/MAX Agent Scarlett Li - A Realtor Who Knows Life With Style

Market Watch: February 15, 2010

Market Watch - January 2010 Housing Recovery Continues With Active December Market
Strong year-end sales put a crown on a year that started slow but ended big. We entered 2009 with a global recession at our backs and a real estate meltdown to the south. However consumer confidence started to return in the second quarter and the real estate market was the first place in the country to show signs of the recovery... read more

Condo Living - Important Things to Consider When Buying a Condo
Condominium units have become a wise alternative to owning a home. This is not surprising, as living in a condo is more convenient that living in a house. A condo is ideal for individuals living alone, small families and older people. And because condos are smaller, they are less expensive to maintain... read more

Strategies For First Time Home Buyers - Getting Your Foot in the Door
Like many would-be homeowners, you may be wondering how you can possibly afford to buy your first home. Even if you think you couldn’t afford a home, these saving tips and financing strategies can take you there sooner than you think and turn you from a renter into an owner... read more

Tips on Financing & Mortgage
Whether you are a first-time home buyer or looking for refinancing your property, it is always helpful to seek inputs from experienced mortgage financing specialist. Get the handy financing and mortgage tips which help you own your dream home sooner... read more

10 Ways to Green Up Your Home
When it comes to the environment, being a good global citizen starts at your doorstep. From recycling to using alternative cleaning materials, minor changes at home can add up to real benefits for the planet, not to mention your own health and happiness... read more

Compliments of Scarlett Li

SPECIAL MENTION
Review 2009 GTA real estate market trend in graphic - a more visual way to see what had happened in GTA's real estate market in comparison to previous years. view here

Whether you are thinking of buying or selling your home, or are just curious as to real estate values in your neighbourhood, you will want to make sure you talk to a real estate professional who is knowledgeable and familiar with the area.

I invite you to call me at (416) 705-5812 for the most up-to-date market informaiton about Markham, Unionville, Richmond Hill and Scarborough.

I am never too busy for your referral and
thank you for your trust!!


	MARKET REPORT Dear Friend, The real estate market kept up last year’s torrid pace with the sale of 4,986 single family homes, marking it as one of the best January’s in the history of the Toronto Real Estate Board. The market has certainly rebounded strongly from a year ago as the fears created by the United States experiences proved to be groundless in Canada. There is an old expression that says,” Familiarity breeds contempt”. I remember houses that 10 years ago were $250,000 are now $500,000 and it’s hard to adjust to such strong price increases. I keep reading reports on how “affordable” Toronto real estate is and part of me wonders at the affordability of a $500,000 home, I have to fight my immediate credulity and remember the facts. Here they are: Abnormally low interest rates make houses affordable. An increase of 3% in mortgage rates (would still be a low interest rate considering 10% – 14 % in the 80’s and 90’s) on a $350,000 mortgage represents an increase of $1,000 per MONTH in mortgage payments. That’s $1,000 per month more for the same home! Low construction costs. Our new condos are being sold for $400 - $500 per square foot. Very affordable compared to London and Manhattan at $1,500- $2,000 per square foot. Availability of homes. The construction of new homes and condominiums continues to keep prices of homes rising at a gradual pace, allowing first time buyers to enter the market. Combining the above with our strong economy and political stability, Canada will continue to be the country of choice for immigration which will result in more demand for houses and the ensuing increase in prices. It’s hard to get past the prices of the “past”, but it is an excellent time to buy. Chances are the growth of the last 10 years will continue into the next 10 years as inflation, availability of building lots and demand will continue to increase the price of homes in the GTA. Click here to read the TREB report on January market

	If you, or someone you know, are thinking of making a move, please call me for the latest update on prices and sales activity in your area.

Scarlett Li
RE/MAX Realtron Realty Inc., Brokerage
Direct: 416.705.5812
Office: 905.470.9800
E-mail: scarlett@liscarlett.com
www.LiScarlett.com

Scarlett Li's logo is a registered trademark in Canada. RE/MAX logo is a registered trademark of RE/MAX International, Inc. in the United States, Canada and/or other countries.
© 2010 Scarlett Li. All rights reserved.