Real Estate Blog

Hamilton real estate prices continue to climb: report

There is some good news for Hamilton homeowners who are looking to sell.

Royal Lepage released its third quarter 2018 Market Survey Forecast, showing an increase of 5.2 per cent in the price of a home compared to this time last year. That brings the average Hamilton-area home price to $571,157.

The survey shows that the median price of a two-storey home in Hamilton increased 5.1 per cent to $606,671, while the median price of a bungalow rose to $509,384. The median price of a condominium increased by 8.9 per cent to $344,422.

“Hamilton is moving towards a more balanced market, but well-priced houses are still attracting multiple offers and selling quickly,” said Joe Ferrante, broker of record, Royal LePage State Realty. “We have seen demand

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Top 10 real estate tips for the fall

High demand and low interest rates continue to drive housing sales this month.

While home prices for starter-to-midrange homes are pushing upward toward pre-recession peaks, especially in secondary markets, they’re stabilizing in higher-priced areas.

Prognosticators see the robust markets of Seattle, Portland and Denver as this year’s top performers, with 10 percent to 11 percent price growth. If mortgage rates rise modestly as expected in 2017, sales elsewhere may normalize with smaller price appreciation, especially as housing starts rise to fill the inventory breach, but recently, rates have been on the decline.

Here are 10 tips to adapt to the latest market conditions.

1. First-time homebuyers: Get that starter home now

And we

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Zillow to Receive Listings from Redline Real Estate Canada

SEATTLE, Oct. 17, 2018 /CNW/ -- Zillow®, the leading real estate and rental marketplace in the U.S., announced today that Calgary-based Redline Real Estate Canada will display its listings on Zillow's mobile app and website. Redline Real Estate Canada is the first independent brokerage in Alberta to agree to send listings to Zillow.

Redline adds to the growing list of prominent Canadian brokerages who have signed on with Zillow to give their listings exposure to millions of global home shoppers.

"By sending listings to Zillow, Redline Real Estate Canada will be a leader in driving global exposure for their agents' listings," said Errol Samuelson, Zillow Group Chief Industry Development Officer. "It's exciting to us that our

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Social needs, blurring of live-work boundaries, disruptive tech and short-term rentals among factors influencing how we buy and build homesWhich hot trends will affect the real estate market in 2019?

Three emerging factors are set to disrupt and transform the real estate market in the near future, according to a new report by Montréal-based real estate website Shupilov.com.

Remote working and self-employment, disruptive technology such as autonomous vehicles and virtual reality, and lack of affordable housing are the three key trends that will affect the real estate market next year and into the future, said the report.

Home as office, business or service

The blurring of live-work boundaries and changing social needs are affecting the kinds of homes buyers want, especially as more and more people work

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Light industrial space in the East Vancouver condo towers is selling for up to $700 per square foot and could lease for $30 per square foot

Strathcona Village industrial and housing development first of its kind in Vancouver

Investors are circling an East Vancouver development, the first in North America to mix condominium towers with industrial strata space.

“I thought the industrial buyers would all be owner-occupiers, but we getting a lot of calls from investors,” said Dan Jordan, a Colliers International agent who began marketing the non-residential space at Wall Financial’s Strathcona Village this month.

In 2014, the City of Vancouver rezoned a two-block strip of East Hastings to allow both residential and “light industrial”, defined asproduction, design and repair uses.

Strathcona Village, being built on the north

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Vancouver, BC – October 11, 2018. The British Columbia Real Estate Association (BCREA) reports that a total of 5,573 residential unit sales were recorded by the Multiple Listing Service® (MLS®) across the province in September, a 33.2 per cent decrease from the same month last year. The average MLS® residential price in BC was $685,749, down 1.1 per cent from September 2017. Total sales dollar volume was $3.8 billion, a 34 per cent decline from September 2017.

“BC home sales continue at a slower pace compared to last year,” said Cameron Muir, BCREA Chief Economist. “The impact on affordability and purchasing power caused by the mortgage stress test and moderately higher interest rates are negating the effect of the extraordinarily strong performance of

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What would be city’s fourth-tallest high-rise aims to echo under-construction Vancouver House opposite, to create new “Granville Gateway”

 Developer files application for 54-storey downtown Vancouver tower (IMAGES)

A rezoning application, along with a fresh set of renderings, has been filed with the City of Vancouver for what would be the city’s fourth-tallest tower.

Pinnacle International wants to build a 54-storey luxury high-rise at the north end of Granville Bridge, opposite the under-construction Vancouver House. Together the redevelopment of the Granville loop lands is intended to create the new “Granville Gateway” – a grand architectural entrance from the bridge into downtown Vancouver.

The architect on the project, GBL Architects, has designed a curvilinear tower with a twist in the facade that pays

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Is this Canada's hottest real estate market?

Vancouver and Toronto have been supplanted by Montreal as having the Canada’s hottest real estate market.

“Montreal has been a very healthy market for a number of years, but it’s been overshadowed by the historical performances of Vancouver and Toronto,” said Sotheby’s International Realty Canada’s President and CEO Brad Henderson. “Enter the foreign buyer tax in 2016 for Vancouver and the Ontario Fair Housing Plan in 2017, and both the Vancouver and Toronto markets experienced considerable declines in activity, and as a result what became apparent is how healthy the Montreal market was. We expect this year that we’re going to see the largest number of homes bought and sold in the Montreal area. By that definition, it’s definitely the hottest

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New government loans only available on homes up to $225,000Down payment loan limits will force buyers to rural P.E.I.: Real Estate Association

The P.E.I. Real Estate Association says Islanders hoping to take advantage of the province's new down payment assistance program will likely need to do their house hunting in rural P.E.I.

The program was officially launched Tuesday, with more details on who can now apply for an interest-free loan, and for how much.

 

Government says first-time home buyers with a household income of up to $80,000 will qualify for a loan to cover the five per cent required down payment.  But that's only on houses that are $225,000 or less. 

"How many houses are really for sale for $225,000? There are some. But they're all mostly in more rural areas," said Greg Lipton, the association's

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Q: I am recently engaged and my fiancé and I each own a house. We are looking to sell both and buy something together with the equity in order to have a shorter mortgage.

We each have 22 years left on our mortgages and two years left on our current mortgage term. There are many things to consider such as real estate commissions, land transfer tax, refinancing/interest rates, discharging and porting fees. It’s hard to know where to start! We really want to be mortgage-free sooner and pay less interest in the long run; that way we have more money to invest in savings each month. How do we calculate if the fees are worth the move? How do we decide what our budget for our new home is?

—Jamie B.

A: Hi Jamie. Congratulations! It’s great that you

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