Mortgage Rate Watch The above rates are accurate at the specified date and have been supplied by a major bank. There may be variations in rates between different financial lending institutions, and rates are negotiable with individual lenders. To obtain up-to-date posted rates for all financial institutions, please consult www.cannex.com. M arket Views PREFERRED CLIENT NEWSLETTER MAGDA MO’S Magda Mo Sales Representative 416-483-8000 Powerhouse market continues in October The exceptionally strong fall resale home market continued in October with a total of 8,476 properties sold, an all-time high for the month of October. This figure was up by 64% versus a very weak October 2008 and brought year-to-date sales to 74,721 units sold, up a full 9% versus the comparable year ago period. The resurgence in the market is occurring across all price ranges, from first-time buyer level properties to luxury homes selling in excess of one million dollars. Low interest rates, growing consumer confidence and the pent-up demand following a very weak October 2008 - April 2009 period have been the major factors in this astounding recovery. The average price for October resale transactions was $423,559 which was up by a whopping 20% versus the October 2008 average price of $352,974. More significantly, this price established a new all-time high for the GTA resale market, easily eclipsing the previous record of $406,877 which had been set in September. The average price for the first ten months of the year now stands at $392,264, which is up by 3% versus the comparable year ago period. Very low inventory (14,771 active listings, down 46% versus October 2008) combined with the surging demand is driving prices upward at a very brisk pace. Avg Price $356,423 $394,646 $352,974 $423,559 9,000 8,000 4,000 5,000 6,000 7,000 3,000 GTA Resale Home Sales - October Units Sold 2006 2007 2008 2009 Posted Rates – Nov 5/09 Closed Mortgages 1 year 3.80% 2 year 3.95% 3 year 4.45% 4 year 5.29% 5 year 5.74% Open Mortgages 6 month 6.45% 1 year 6.45% NOVEMBER 2009
Transcript
MortgageRate Watch
The above rates are accurate at the specified date and have been supplied by a major bank. There may be variations in rates between different financial lending institutions, and rates are negotiable with individual lenders. To obtain up-to-date posted rates for all financial institutions, please consult www.cannex.com.
Market ViewsPREFERRED CLIENT NEWSLETTER
Magda Mo’s
Magda MoSales Representative
416-483-8000
Powerhouse market continues in OctoberThe exceptionally strong fall resale home market continued in October with a total of 8,476 properties sold, an all-time high for the month of October. This figure was up by 64% versus a very weak October 2008 and brought year-to-date sales to 74,721 units sold, up a full 9% versus the comparable year ago period. The resurgence in the market is occurring across all price ranges, from first-time buyer level properties to luxury homes selling in excess of one million dollars. Low interest rates, growing consumer confidence and the pent-up demand following a very weak October 2008 - April 2009 period have been the major factors in this astounding recovery.
The average price for October resale transactions was $423,559 which was up by a whopping 20% versus the October 2008 average price of $352,974. More significantly, this price established a new all-time high for the GTA resale market, easily eclipsing the previous record of $406,877 which had been set in September. The average price for the first ten months of the year now stands at $392,264, which is up by 3% versus the comparable year ago period. Very low inventory (14,771 active listings, down 46% versus October 2008) combined with the surging demand is driving prices upward at a very brisk pace.
Avg Price $356,423 $394,646 $352,974 $423,559
9,000
8,000
4,000
5,000
6,000
7,000
3,000
GTA Resale Home Sales - OctoberUnits Sold
2006 2007 2008 2009
Posted Rates – Nov 5/09
Closed Mortgages
1 year 3.80% 2 year 3.95% 3 year 4.45% 4 year 5.29% 5 year 5.74%
Open Mortgages
6 month 6.45% 1 year 6.45%
NOVEMBER 2009
House SmartChristmas safety tips
Christmas Tree Safety
• A real tree should not lose green needles when you tap it on the ground.• Cut 1 inch off the trunk to help absorb water. • Leave the tree outside until ready to decorate. • The stand should hold at least 1 gallon of water. • A 6 foot tree will use 1 gallon of water every two days. • Mix a commercial preservative with the water. • Check the water level every day.• Secure the tree with wire to keep it from tipping. • Keep tree away from floor heaters, fireplaces, or other heat sources. • Use only UL-approved lights, and no more than 3 strands linked together. • Use miniature lights - which have cool-burning bulbs. • Turn off the Christmas lights when you sleep, or if you leave your home for very long. • Never use candles, even on artificial trees. • Clean the tree stand to improve the tree’s water intake, use one capful bleach to a cup of water. • Dispose of the tree properly. NEVER BURN IN THE FIREPLACE.• Finally, consider an artificial tree (they are much safer and cleaner).
Christmas Home Safety
• Install a smoke detector or new batteries in the one(s) you have and TEST it. • Use only outdoor lights outside your home. • Examine light strings each year, discard worn ones. • Fasten the bulbs securely and point the sockets down to avoid moisture build up.• Connect no more than three strands together. • Never use indoor extension cords outside. • Avoid overloading wall outlets and extension cords. • Keep outdoor electrical connectors above ground and out of puddles and snow. • Unplug light string before replacing a bulb. Review the original package to verify proper wattage and voltage.
• When connecting light strands, wrap a plastic bag around connections and tie ends with Teflon tape. • Never use electric lights on a metallic tree, use coloured spot lights. • Make sure trees hung with Christmas lights are not touching power lines. • When using candles, place them a safe distance from combustibles. • Place candles in sturdy containers. Remember, hot wax burns kids.• Extinguish candles prior to going to bed. • Dispose of fireplace ashes into a metal container until cold. • After parties, check around and under sofa and chair cushions for smouldering cigarettes. (Provide lots of ash trays) • Install at least one carbon monoxide detector in your home. • Have an operable fire extinguisher readily available.
“Safety” Gift Ideas
Put together a gift basket containing one or more of the following items:• Three smoke detectors and batteries.• A quality fire extinguisher. • A flashlight and batteries or light sticks. • A first-aid kit. • A carbon Monoxide detector.• A mobile phone.• A second floor escape ladder.• “Emergency kit” - energy bars, water, battery radio, flashlight/light sticks and a first-aid kit packed in a small travel bag.
TrendyWith the arrival of cold weather, it’s time to put on the fireplace. Curling up near a cozy fire is a wonderful winter pastime but you’ll need the right tools to tend your fire. Vintage fireplace accessories can add just the right atmosphere to your décor. Here’s what you’ll need to keep your fire aglow.
Fireplace Tool Sets
In the 18th and early 19th centuries when a fire was the only source of heating a home, a large fireplace was essential. Tool sets for the fire – a shovel, poker, brush and a pair of tongs were usually made of brass, bronze or wrought iron. Bronze tools are more valuable than brass or wrought iron. Look for fireplace tool sets to match the décor of your home. Ornate Victorian tools suit more traditional homes. More modern décor lends itself to the simple linear tools reminiscent of the Arts and Crafts period.
Andirons or Fire-Dogs
Andirons are iron supports used to rest burning logs in the fireplace. They were utilitarian and not particularly decorative. However, in the 18th century the French fancied up their andirons with ornate figures such as dogs, lions, fish, mythological creatures or people. These were dubbed fire-dogs. Today, the terms andirons and firedogs are used interchangeably. Now, we hold the burning logs in cast-iron grates. You’ll still see andirons in antique shops. Use them to add a striking panache to your hearth.
Fenders
A fender is a three-sided rectangular shaped metal piece that keeps sparks from jumping into carpets and flooring. They could be very ornamental.
Decorative Screens
There were several styles and purposes for screens – to combat draughts or shield from heat. Some were used to hide the fireplace in summer months. These were called cheval screens. They could be decorative and were made from mahogany, rosewood or satinwood with needlepoint, tapestry or embroidery details. Mesh screens came along later and served the same purpose as fenders. They held the popping embers in.
Value
A matching set consisting of a fireplace tool set, fender and andirons is more valuable than a mismatched set. It’s hard to find a complete fireplace set because over the years the sets were often broken up. If you have one, hang on to it.
Good News
There are lots of vintage fireplace tools out there. You’ll often find vintage fireplace tool sets more affordable than new sets. Plus, vintage sets will have that great patina that new sets cannot duplicate.
Sutton Group Bayview Realty Inc., Brokerage1820 Bayview Avenue, Toronto, ON M4G 4G7
Your referrals are sincerely appreciated!
Here are a few tips to get your home ready for the cold weather that’s just around the corner that will also shrink your carbon footprint at the same time.
Turn down the thermostat
When the weather starts to get cooler, we all tend to reach for the thermostat. Instead reach for a sweater, use draft stoppers in doorways and invest in a programmable thermostat - just don’t turn up the heat, For each degree you turn down the thermostat, it is estimated you’ll save about four per cent in monthly utility expenses.
Start composting
Fall is the perfect time to start a compost pile or bin in your backyard (or inside, with a special composting bin). Even if you don’t have a large garden or yard, you can still benefit from composting - it enriches soil and reduces the need for
water, fertilizers and pesticides.
Hot water heaters
Many water heaters default to 60 degrees Celsius when they are shipped from the manufacturer, but temps that high, pose not only high energy costs but scalding risks to your family. Most water heaters operate just as efficiently at 49 degrees Celsius and the lower temperature could help increase the lifespan of the heater. For every 10 degrees you lower the water temperature, you can save between three and five per cent in utility costs.
Until next time, take care and please remember that all of your real estate referrals are both highly valued and greatly appreciated. Happy Holidays!
The Four Stages of Life:
1. You believe in Santa Claus.2. You don’t believe in Santa Claus.3. You are Santa Claus.4. You look like Santa Claus.
