Scarlett Li's Real Estate E-Newsletter

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

Market Watch: April 18, 2010

Market Watch – April 2010 Residential Resale Market Maintains Momentum
The spring market kicked off early and strong this year, possibly boosted by the unseasonably warm weather and absence of snow in March. Inventory is still lower than at this time in 2009, but has begun to increase slightly in recent months... read more

Selling Your Home? Appeal to the Homebuyer's Senses
Every seller wants his or her home to sell fast and bring top dollar. It's not luck that makes that happen. It's careful planning and knowing how to professionally spruce up your home that will send home buyers scurrying for their cheque books... read more

Mortgage Talk: Interested in a Fixed Rate Mortgage?
With the prospect of upcoming rate hikes looming over, many home buyers think that locking into the best fixed rate mortgage is the way to go. Does the idea of a mortgage with a fixed interest rate sound appealing?... read more

How to Make Your Home Unattractive to Thieves
One thing nearly every home owner is concerned about is home security. Whether that means installing a burglar alarm, a home security camera, or simply fortifying windows and doors for a more burglar proof home... read more

Spruce Up Your Place by Painting [Get tips from "How to Paint" Video!]
When you look into selling your property, repainting definitely would help to bring in some fresh look. Then there is your question, “Is there an easier way?” Maybe there is. You might not escape painting completely, but painting to resell is often easier than painting to decorate.... read more

Compliments of Scarlett Li

SPECIAL MENTION
Review 2010 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, Home purchases reached new records as 10,430 single family homes sold through the Toronto Real Estate Board (TREB) in March, pushing total first quarter 2010 sales to 22,418 – the best result on record under the current (TREB) boundaries. The average price for March transactions was $434,696, bringing the average price for the first quarter to $427,948, up 8.2 % since the start of the year. While the strong rebound in the existing home market is one of the initial drivers of economic recovery I do not expect to see the same rates of growth moving forward in 2010. Don’t get me wrong, I remain confident in home ownership and investment as a quality long-term investment, however, I am a little bit nervous as to the reasons for this unexpected rise in demand and price. We still have 10% unemployment and our Canadian dollar is too high compared to the US dollar which hurts exports, therefore this “hot” market is totally unexplained. The only logical explanation is that buyers are trying to buy before the new Harmonized Sales Tax (HST) comes in to play, on home closings after July 1 this year. Since those buyers who would normally buy in June July and August are buying now, I expect the number of sales in those months to be lower than average, with the Fall market, October, November, December, being back to traditional levels. While it may seem like a prudent time to postpone a home purchase until the summer, other factors come in to play. One is mortgage rates. If interest rates go up just 3% on a $300,000 mortgage (from today’s 4% to 7%, still a great rate) that results in a $9,000 per year increase or $45,000 over the 5 years of the mortgage! Secondly, the HST will increase the price of new construction by 8%. A $400,000 new home will become $432,000. Ultimately, resale homes will increase in value as people will choose resale over new due to the price difference. The factors are complicated, and that’s where I come in, explaining the opportunities, pros, cons, and the various options available. If you have any questions, please feel free to call and let’s chat. As always, if you know of someone thinking of buying or selling, I would appreciate your assistance in getting us together. I am never too busy for your referrals! Have a great April! Click here to read the TREB report on March market Click here to read the TREB report on April Mid-Month Housing 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

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