Just wanted to wish everyone a Happy New Year! Thanks to those who have been following my blog and requesting interesting articles. I’ll keep you updated on the Brampton real estate market next year and let’s hope it recovers fast!
- In Brampton Remax has a 40% market share (based on an independant study).
- Remax receptionist are trained full time professionals and take great pride in their work.
- Remax administrative staff are highly educated and they make sure once the house has sold the the deal not fall through for any reason and that lawyers have all the documents they need ON TIME!
- Because has more signs on the lawns it generates more calls from prospective buyers
- More buyers search the Remax website then any other real estate company website.
Bottom line of this is that you are getting a company that is regarded as a premium brand in real estate. And with me you can get away with paying minimal.
More Remax facts:
Global economic uncertainty weighed heavily on residential real state activity in most major Canadian centres during the latter half of 2008. Although the forecast for 2009 promises more of the same, most markets are expected to weather the storm, says RE/MAX.
The RE/MAX Housing Market Outlook for 2009 examined residential real estate trends in 22 markets across the country and found that average price held up remarkably well in 2008, despite 13 centres reporting double-digit declines in home sales. Solid gains earlier in the year likely served to prop-up housing values at year-end. The prognosis for housing activity in the first six to nine months of 2009 is somewhat static, given continued volatility in financial markets and the threat of recession, but as stability returns to the financial sector, housing markets are expected to recover.
Nationally, 440,000 homes are expected to change hands in 2008, down 15 per cent from record 2007 levels. Canadian housing values are expected to hover at $300,000, a nominal three per cent decline from last year’s historic peak. By year-end 2009, unit sales should match 2008 levels, while average price is forecast to fall another two per cent to $293,000.
“Housing market performance will clearly be contingent on economic performance at a local, provincial, and national level in 2009,” says Michael Polzler, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. “Issues affecting the overall economy are impacting housing markets across the country and the situation is not expected to be remedied until consumer confidence is restored. That said, we could see a bounce back as early as spring – if inventory levels remain stable, pent-up demand kicks into gear, and lower interest rates stimulate home-buying activity.”
Major markets are evenly split in terms of housing performance in 2009, with 11 centres forecast to match or exceed 2008 home sales and 11 expected to slide from 2008 levels. The highest percentage increase in unit sales is anticipated in Saskatoon, where the number of homes sold is forecast to climb three per cent in 2009. Housing values are expected to hold the line in 2009, with St. John’s, Montreal, Kingston, London, Winnipeg, Saskatoon, and Regina posting modest gains in average price in 2009.
“Canada’s real estate environment is considerably more complex than it has been in recent years,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “The landscape is definitely changing — with most markets shifting into either balanced or buyer’s territory. The shut out is over. Sellers no longer rule the roost. Opportunities exist for purchasers like never before, including lower interest rates, greater inventory levels, the luxury of time to make decisions, and the upper-hand at the negotiating table. Motivated vendors will need to take note of the new mindset and set their prices accordingly.”
Canadian sellers are slowly adjusting to new realities. For most markets, 2008 started in balanced territory and moved into buyer’s market conditions during the latter half of 2008. The year ahead will prove challenging, especially for vendors.
“While the economy will dictate real estate performance next year, it’s important to remember that demand still exists in the marketplace,” says Sylvain Dansereau, Executive Vice President, RE/MAX Quebec. “In the midst of stock market turmoil, sold signs continue to appear on lawns across the country. With affordable lending rates and increased selection, first-time and move-up buyers with good credit may choose to play their investment strategy safe and purchase a home. The comfort of a tangible investment like real estate goes a long way in tough times.”
RE/MAX is Canada’s leading real estate organization with over 18,000 sales associates situated throughout its more than 670 independently owned and operated offices across the country. The RE/MAX franchise network, now in its 35th year, is a global real estate system operating in close to 70 countries. More than 7,000 independently owned offices engage more than 100,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral and asset management.
Source: Remax
for more information on the Brampton real estate market drop me an email.
Your negotiations were successful and you have a legally binding agreement. But, is the house truly sold? Not quite yet. It’s time for the vital final steps known as “closing”.
Your REALTOR® and lawyer will do most of the work
Thank goodness. Closing a deal involves many, many complicated and time-consuming legal maneuvers. That’s why you’ve hired pros.
Canada’s Money Laundering Reporting Requirements
By the time you accept an offer, your REALTOR® will also advise you of reporting requirements by FINTRAC, the federal agency responsible for administering Canada’s Money Laundering and Terrorist Financing legislation and regulations. Your REALTOR® is required by federal law to complete a client identification form, and must ask you as the vendor or seller for verified ID such as a drivers licence or passport. You can find out more on the FINTRAC web site www.fintrac-canafe.gc.ca/
Your closing checklist.
You still have plenty to do yourself, and here’s a comprehensive list.
Contact with your lawyer.
Congratulations!I hope this was helpful. For more information on the Brampton real estate market or selling your Brampton house drop me an email.