real estate

BUNGALO. Saint-Bruno-de-Montarville. 264 900$

by
1385 Rue Chanteclerc, Saint-Bruno-de-Montarville

Beau plein-pied 3 chambres au RDC. Beaucoup de rénovations dans les derniers 5 ans dont la fournaise, les fenêtres, 2 salles de bain refaits à neuf en 2012, etc. Bungalow situé dans un secteur paisible et familial, a distance de marche des écoles, parcs, transport en commun et centre ville. Qualité de vie assurée.

Cozy brick bungalow located in a quiet family neighborhood, close to all services, schools, parks, public transportation and downtown. Featuring: 3+1 bedrooms, 2 full bathrooms, hardwood floors on main level and sunny dining room. Many renovations in the last 5 years including furnace, windows, 2 bathrooms redone in 2012, etc.

Smallest Decrease in Residential Sales in the Past Six Months

by

Île-des-Sœurs, May 8, 2013 – According to the real estate brokers’ Centris® provincial database, there were 4,605 residential sales transactions concluded in the Montréal Census Metropolitan Area (CMA) in April 2013, said the Greater Montréal Real Estate Board (GMREB). Although this represents an 11 per cent decrease compared to April 2012, it was the smallest drop in sales in the past six months.

“Sales have decreased every month since the entry into force of the new mortgage rules last July,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “Despite the drop in sales, April 2013 was a better month than that of April 2011, when 4,474 transactions were concluded,” she added.

All three property categories registered a similar decrease in sales in April 2013. Sales of single-family homes fell by 11 per cent, condominium sales dropped by 10 per cent and plex sales slipped by 13 per cent compared to April of last year.

All five main areas of the Montréal CMA registered a decrease in sales in April 2013 compared to April 2012. The largest decreases, for a second consecutive month, were in Laval (-20 per cent) and Vaudreuil-Soulanges (-13 per cent), while the North Shore (-7 per cent) and South Shore (-6 per cent) posted the smallest decreases. Sales on the Island of Montréal fell by 12 per cent.
As for the median price of single-family homes, Laval ($285,000), the South Shore ($270,000) and the North Shore all registered an increase of 2 per cent, while the Island of Montréal ($380,000) registered a 1 per cent increase. The median price of single-family homes remained stable in Vaudreuil-Soulanges ($270,000) compared to April 2012. As at April 30, 2013, there were 33,099 active listings in the Centris® system, up 16 per cent compared to the same period last year. Once again, the increase in active listings was most noticeable for condominiums (29 per cent). The increase in supply was more moderate for single-family homes (8 per cent) and plexes (12 per cent). Geographically, the increase in the number of active listings was largest on the Island of Montréal (+26 per cent) and in Laval (+21 per cent). Vaudreuil-Soulanges, the South Shore and the North shore registered respective increases of 14, 9 and 4 per cent.

Source : http://www.cigm.qc.ca

Mortgage rates – how low they can go?

by

Four times in the past four years, Flaherty has tightened mortgage insurance rules, each time making it a little more difficult to get home financing. And although household debt continues to hit new record highs—reaching 165% of disposable income by the end of last year—Flaherty has succeeded in slowing housing activity in Canada. But that comes at the expense of the mortgage market, which is the largest of the banks’ lending businesses. Mortgages in the banking sector are currently growing at about 6% a year—half of the pre-recession rate of growth. “The competition between institutions is so fierce that they really have no choice but to compete by offering as low a rate as they possibly can,”  says John Andrew, a real estate professor at Queen’s University.

Lenders still make money on low-rate mortgages. Their profit margins are roughly measured by the difference between mortgage rates and the banks’ own costs of borrowing, which is approximated by the Bank of Canada’s five-year benchmark bond rate—about 1.2%. Most of the money the banking sector lends out is provided by retail deposits, supplemented by borrowing on the “wholesale” market. The minimum spread at which a bank would be willing to offer five-year mortgages is about 140 basis points, says Ohad Lederer, a financial services analyst at Veritas Investment Research. That would put a floor on five-year mortgage rates of about 2.6%—assuming the five-year bond rate doesn’t fall any further. Variable or shorter-term mortgages are already available for even less.

 Source : http://www.canadianbusiness.com

Real Estate Market. March 2013.

by

Montréal Real Estate Market has Something for Both Buyers and Sellers

Île-des-Sœurs, April 8, 2013 – According to the real estate brokers’ Centris® provincial database, the market for single-family homes continued to favour sellers, while that of condominiums gave buyers the upper hand, said the Greater Montréal Real Estate Board (GMREB).

“Market conditions for condominiums have been relaxing quickly in recent months,” said Diane Ménard, Vice-President of the GMREB Board of Directors. “In early 2012, the condominium market still advantaged sellers slightly, but after a short period in balanced territory the condominium market is now a buyer’s market, both on the Island of Montréal and in the suburbs,” she added.

The number of sales concluded in the Montréal Census Metropolitan Area (CMA) decreased by 17 per cent in March 2013 compared to March 2012, with a total of 4,435 transactions. The drop in sales in Greater Montréal began with the entry into force, last July, of the most recent tightening of mortgage rules.

Sales fell for all property categories in March 2013 compared to March of last year. Single-family home sales decreased by 15 per cent, condominium sales fell by 18 per cent and that of plexes by 24 per cent.

The drop in sales in March 2013 was felt in all five main areas of the Montréal CMA. Sales decreased by 36 per cent in Vaudreuil-Soulanges, by 23 per cent in Laval and by 20 per cent on the Island of Montréal. The North Shore and South Shore registered smaller drops at 9 and 10 per cent, respectively.

As for the median price of single-family homes, Vaudreuil-Soulanges ($285,450) led the way with a 7 per cent increase compared to March 2012, followed by the South Shore ($274,500) with a 5 per cent increase, the Island of Montréal ($370,000) with a 3 per cent increase and the North Shore ($235,000) with a 1 per cent increase. The median price of single-family homes in Laval ($290,000) remained stable compared to March of last year.

In the Montréal CMA as a whole, single-family homes ($275,000) and plexes ($417,000) both registered a 1 per cent increase in median price compared to March 2012. The median price of condominiums ($222,000) fell by 1 per cent.

As at March 31, 2013, there were 32,934 active listings in the Centris® system, up 12 per cent compared to the same period last year. The largest increase was for condominiums, as the number of active listings for this property category grew by 25 per cent. Geographically, the Island of Montréal (+22 per cent) registered the largest increase, while it was barely noticeable on the North Shore (+1 per cent).

SOURCE : http://www.cigm.qc.ca