October 2009

September was another record-breaking month for the resale housing market around the country, capping off a very busy and active summer. Inventory levels rose from last month but remain lower than September 2008, and that low supply coupled with continued strong demand for resale housing helped nudge selling prices higher.

The increased demand we saw in the spring has carried forward, buoyed by low interest rates and housing prices that, despite inching up in some areas, remain more economical in most areas.

Some urban areas like the Greater Toronto Area saw a noticeably high demand and sometimes competing offers forcing the prices up when compared to the same month last year.

“This recession has been a tricky one. Consumers were expecting the

Finding the right home may seem like the hard part of a real estate transaction, but in reality, getting the best financing can be much harder. This is partially because we have so many options nowadays for mortgage loans and so many places to find them. A mortgage broker can often lay out your options clearly. They will be armed with what you want in terms of loan term, ideal rate, targeted monthly payments and the like. If you're smart, you will talk to them before you decide on your home so you really know your price range.

Using a mortgage broker is by far the best way to go about finding and arranging the very best mortgage to suit your specific needs. Place your trust in a specialist that knows how to package your application, what pitfalls to

Your main goal when selling your home, is to sell it quickly at the highest price while investing as little as possible in renovations. With a limited budget and a little effort, you can greatly increase your home's appeal by focusing on what prospective buyers can see on the first visit. 

"If they don't like what they see outside, they'll never walk inside, curb appeal can often mean the difference between a house sitting for months or selling in a few weeks. 

The view from the street can net you more traffic than you might think. Seventy-four percent of all home buyers use the Internet to shop for a new home, according to figures from the National Association of Realtors. 

Here are a few tips from professional home estimators to help you prepare

Fire can be devastating to the home and family, yet many people ignore common fire hazards and don’t prepare themselves or family members for this common catastrophe.

While a house fire can happen by accident to unsuspecting homeowners, many house fires are completely preventable. Set aside some time and effort to protect your home from a devastating blaze with these safety tips.

1. Make sure you have adequate insurance
First you need to realize that nothing you can do will possibly reduce the risk of a fire to zero, so you will need to purchase adequate insurance to cover your home. This will help you, in the disastrous event of a fire at your house, cover the costs of the damage and help you get back on track. If you do not have fire protection

Last month we introduced some of the commonly used real estate terms and explained how these terms can make up a language of their own. This month we complete this series by introducing the commonly used Mortgage terms.

Amortization
This is a schedule that outlines your loan payments for the duration of the home buying loan. It details how much of each monthly payment goes toward the principal and how much goes toward the loan interest. Initially, the bulk of your payments will be applied toward the interest.

Appraised Value
An estimate of a property’s market value, used by lenders in determining the amount of the mortgage. Usually made by a qualified professional called an “appraiser”.

Assessment
The value of a property, set by the local