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...
Read MoreBarrie Real Estate Mortgage Rates at Historic Lows
Long term mortgage rates have dropped to the lowest level in Canadian banking history and the rush to “lock in” is expected to pick up! If you’ve been considering locking in your variable rate mortgage, the Bank of Montreal made a BIG splash this past week and was the first major institution to break the 3% mark with their ultra-low 2.99% closed fixed rate 5 year mortgage. Other banks answered back with their own incredible deals like ING Direct. They’ve come up with a 10 year, fixed rate product at 3.89% The TD bank has also lowered rates on six and seven year fixed rate terms and I am sure there will be more to follow. Farhaneh Haque, Director of Mortgage Advice and Real Estate Secured Lending at TD say, “the argument to lock in your mortgage rate has...
Read MoreWhat Determines the Right Asking Price for your Barrie Home For Sale?
Here is a reprint of an excellent article from Linda White. When listing your property for sale, the benefits of asking fair market value typically outweigh the pros and cons of asking too much or too little. After all, you don’t want to miss out on thousands of dollars that a buyer may pay nor do you want to chase the sometimes treacherous real estate market downwards. “It’s never a good thing when you have to drop the price,” says Rick Valouche, president of the British Columbia Real Estate Association. “Generally, a home should sell within the first 60 days, with the most activity within the first two to three weeks. If it sits after three weeks, then we’ve come on too high.” Dropping the price creates negative connotations among...
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Thank you for visiting Krista Alkerton's, Barrie real estate blog. Check back often as we will be adding regular content to help you stay on top of Barrie real estate trends as well as current listings of Barrie homes for sale.
Krista Alkerton
krista@alkerton.com
705.717.1590
