Is It Time To Move Up?

Chances are when you bought your first home you were young, just starting out in life and very excited to be a new homeowner! You probably dreamed of owning a larger and more luxurious home one day, perhaps even a waterfront property! With today’s mortgage rates in the lowest range they’ve been for almost 30 years & yet another “mortgage war” raging among different lending institutions, you might be pleasantly surprised to know that you can afford that “move up” house now. Based on posted rates by the RBC today, the interest rate for a 4 year closed mortgage is 4.64% but today, they have  special of 2.99%. If you were “moving up” and going to carry a mortgage of say, $400,000, according to the posted rate, you would be making...

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Posted by on Mar 29, 2012 in Barrie Real Estate Market, Tips For Home Buyers, Tips For Home Sellers | 0 comments

Barrie Luxury Home Sales Soar!

Barrie Luxury Home Sales Soar!

Our busy spring market has arrived! Traditionally, the Barrie real estate market really gets busy in March, but this year it came early! I guess the groundhog was right after all, it is an early spring! Compared to last year, the average sale price in the City of Barrie for homes sold between January 1 – February 28th was $256,945 with only 1 sale in the $450 – $500,000 range, nothing higher. This year, the average sale price is $281,046 in the same time period with an astounding 18 sales of properties over $600,000! There were 333 homes or condos sold last year, 343 this year. Not too much of an increase in units, but certainly in price.* So what is fuelling the sale of homes over $600,000? Some will say the country’s richest residents as well as...

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Posted by on Mar 1, 2012 in Barrie Luxury Homes, Barrie Real Estate Market | 0 comments

Continued GTA Price Increases Making Barrie Waterfront Property Attractive

Wow!   What an exciting week it must have been for my fellow Realtors in the GTA! There were 3 homes owned by the Toronto Community Housing Corp.(Low income, assisted housing) listed and sold for a combined $602,000 over the asking price! According to an article in the Toronto Star this past weekend, there were some 72 offers registered on the 3 properties on Crawford Street, quite “run down” street and definitely not a prime location. The sales and the frenzied demand for what were considered to be well priced but dilapidated properties needing major renovations sent a buzz through Toronto’s real estate network Friday afternoon. As an example, one 3 bedroom semi-detached home on a 43 by 110 ft lot with mould issues was listed at $549,000 and...

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Posted by on Feb 9, 2012 in Barrie Real Estate Market, Barrie Waterfront Property | 0 comments