How Is The Market?

We are often asked by clients, friends and family “How is the market?” We thought we would take a moment to update all of our readers on how the experts find the Real Estate market throughout Canada is current doing.

We found a great online article from www.canadianrealestatemagazine.ca entitled “August Sales Exceed Expectation, Stir Concerns” - which states “…home sales in August were sharply up from the same month last year, driven by fears of rising interest rates”. The article goes on to say “…The number of home sales…rose 2.8 per cent on a month-over-month basis in August 2013. On a year-over-year basis the climb was 11 per cent”.

Canadian Real Estate Association (CREA) Chief Economist Gregory Klump was quoted in the article saying “Sales activity dropped sharply around this time last year in the wake of tightened mortgage rules and has improved since then…” He continued saying “…the upward trend and levels for activity in recent months has been steeper than expected, but that may not last”. He also stated “Recent increases to fixed mortgage rates caused sales to be pulled forward as buyers with pre-approved financing at lower rates jumped into the market sooner than they might have otherwise". He concluded saying “The outsized year-over-year gains may persist, however, due to weak sales toward the end of last year”.

We hope this gives you some information about how the Real Estate market is currently doing in Canada. To read the entire article, please click here.

As always, if you or someone you care about is thinking of making a move or if you just want some general information about the Real Estate market in your area, please don't hesitate to give us a call, we would love to talk to you!

Until next time,

The Jamie Dann Team

Rising Interest Rates

We have been hearing a lot of talk recently about interest rates in Canada being on the rise, so thought we would take a look for an interesting article regarding this subject. We found a great article from the online Financial Post written by Garry Marr entitled “Can You Handle Higher Interest Rates?”

In his article, Mr. Marr states “higher mortgage rates are on the horizon”. He quoted Frances Hinojosa, a mortgage expert with the Bank of Montreal who stated “First-time buyers should stress-test their mortgage to ensure they are well financially prepared for home ownership and a potential upswing in interest rates, not only to manage costs but also to pay off their mortgage as soon as possible” – he explains that stress testing a mortgage would include considering higher interest rates and a shorter amortization period.

Mr. Marr reported that the Governor of The Bank of Canada indicated that the long term goal is a “gradual normalization” of rates.

We thought it was quite interesting that in his article, Mr. Marr gave an example of a $500,000 mortgage with a 25-year amortization saying “at 3% your monthly payment would be $2,366.23 and you would pay $69,346.66 in interest over a five-year term. Take that same mortgage and raise the rate to 3.5% and the monthly payment jumps to $2,496.36 and the interest over the term reaches $81,180.96”.  We found it remarkable that an increase payment of $130.13 monthly could add up to an overall payment of $11,834.30 over a five year term!  That is an example of an interest rate rising only ½ %! Amazing!! He then gives information regarding the payment if that same mortgage’s interest rate jumped to 5% (only 2% more) – the difference in the monthly payment would be $541.80 and the difference in the amount paid in the total interest cost over the five year term soars to $47,672.33!!

To read the full article, click here.

If you or someone you care about is thinking of making a move or if you just want some general information about the Real Estate market in your area, please don’t hesitate to give us a call, we would love to talk to you!

Until next time,

The Jamie Dann Team

Have you seen these deals yet??

Hey There!

WOW... More amazing businesses have been added to our Gold Card program. Check out their deals below.

PLUS, click here to register your card TODAY to be entered to win a $4000+ Home and Lifestyle package. If you don't already have a card and would like one, click here.

Before I get to the new offers, I want to highlight one of our GREAT supporters!

Manhattan's Restaurant at 147 Dunlop St., East, in Barrie, has given us the generous offer of 30% off food! This restaurant is in the heart of downtown Barrie, and has a wonderful atmosphere, including a spectacular view of Kempenfelt Bay. Manhattan's offers a wide variety of food, and a great selection of beer, wine, and spirits. This dining establishment is open 7 days per week from 11:00 a.m. - 2:00 a.m. To check out their website and see their menu, click here. So, don't delay and have a wonderful meal at Manhattan's and receive 30% off when you show your JDT Gold Card.

Chiropractic Services with Dr. Bernadette Artymko - Initial consultation, spinal exam, x-rays (if necessary), and full report of findings for only $35.00 (regular price $102)

Money Bootcamp Seminars - Register 1 teen (13 - 19 yr old) at regular price for Money Bootcamp 4 Teens and get 50% off the second teen.

Longhorn Catering and Personal Chef Services - 10% off weekly meal planning service or 10% off total invoice for a special event

Kitchen Savers - Receive a set of custom roll-outs with any re-face or new kitchen

Mary Kay Cosmetics and Skincare - Receive a make-over and Satin Hand Cream

And here are some changes in previous offers!

Arbonne - Any ladies parfume $54.00, and any men's cologne $39.00

Bellas Dessert Boutique - Receive 1 doz shortbread cookies with every Christmas cake order

(For all of these offers, some restrictions may apply)

As you can see, this program is expanding like CRAZY, so make sure you visit www.JDTGoldCard.com before you buy ANYTHING!

If you know of anyone who would like cards for themselves, please don't hesitate to let us know!

Until next time,

The Jamie Dann Team.

Introducing the Jamie Dann Team GOLD CARD!!

Hi All:

As an innovative team in the Barrie Real Estate market, The Jamie Dann Team has developed a VIP program for the Barrie area community. Go to our website at www.JDTGoldCard.com and look at all the generous businesses who have provided us with GOLDEN offers. Our hope is that with this card you will save tons!

To get your own card, please phone us at 705-252-5242 or email us at admin@jamiedann.com.

When you get your card, we would love to know how the program is working for you. If you know of other GREAT business that you would like to see as a participating member, please let us know that too!

Lastly, please introduce us to those you know who are thinking of making a move, either near or far! We love to be of help to people early on in their plans.

Please don't hesitate to contact us should you have any questions!

Until next time!

The Jamie Dann Team

Good Mortgage Advice: Planning Ahead

Do you ever think about things you can do now to help protect yourself against the inability to pay your mortgage in case of financial issues in the future? The CMHC (Canada Mortgage and Housing Corporation) has posted an article on their website entitled “Mortgage Planning Tips” giving some great information about how you can be proactive now to possibly prevent damaging financial hardship in the future.

It is always wise not to borrow the maximum amount you have been approved for when it comes to a mortgage. Borrowing the maximum amount you can afford now may not allow you to comfortably cope with unexpected changes in your income or unforeseen expenses in the future.

It is a great idea to sit down with your financial lender to calculate how your monthly mortgage payment would change if the interest rates were to increase (even 1 - 2%) - Could you still comfortably pay your monthly mortgage if this increase should occur? – a very good question to ask yourself BEFORE “signing on the dotted line”.

There are ways to pay off your mortgage sooner in order to have more financial freedom in the future – this could include making weekly or biweekly payments, saving to make a lump sum payment toward the principle and/or increasing your payment a little bit every month. Talk with your financial lender about the options they offer to pay off your mortgage faster.

If you reach a point that you are unable to make your monthly mortgage payments, speak with you lender – they may be able to help you as they may offer ways to help you deal with temporary financial obstacles – Remember, the worst thing you can do is sit back and not do anything and just hope the problem will go away!

For more information regarding these Mortgage Planning Tips please click here to read the complete article from the CMHC.

Until next time,

The Jamie Dann Team

Enter to WIN!!

Hi All:

Here is a GREAT CHANCE TO WIN! We are very excited to announce that we are about to launch a BRAND NEW customer loyalty program.... but we need your help :) You see the only thing we are missing with this new program is a NAME.... so what we would love you to do is to help us name our new Loyalty Program.

Let me tell you a bit about it so hopefully something brilliant jumps into your mind. What we have created is a way for our friends, family and their friends to shop locally and get some great value, discounts, and/or add- ons, an amazing deal, from hand selected businesses that we believe can provide you with outstanding service.

To encourage you to help us, we will put everyone who comments/gets creative into a draw to win 100 FREE Air Miles! I can't wait to see what people come up with!

CLICK HERE to enter!

Until next time!

The Jamie Dann Team

Check out our newest listings!

Hi All:

If you are thinking of making a move, please check out our latest listings. Or, if you are not wanting to make a move, please send these on to a friend!

For more details, go to www.TheJamieDannTeam.com and enter the ID numbers below.

ID# 25219BL, 6-39 Coulter St., Barrie, $205,000 1100+ sq ft condo 3 bdrm 1 1/2 baths with VERY reasonable condo fees.

ID# 25896BL, 231 Cundles Rd. West, Barrie,
$189,900 1400+ sq ft home linked only at the garage - 3 bdrm 1 bath - fully renovated.

ID# 26078BL, 13 Austen Lane, Barrie, $195,900 1300+ sq ft fully finished, 4 bdrm 2 full baths - Includes 5 appliances

ID# 26124BL, 67 Winchester Terrace, Barrie, $235,000 1474 sq ft, 3 bdrm 2 1/2 baths - Includes 5 appliances, Move-in ready!

Please remember, if you or someone you care about is thinking of making a move, or are just curious as to real estate trends in the area, please feel free to phone at any time. It's always great to hear from you!

Until next time!

The Jamie Dann Team

The Canadian Real Estate Industry: Wish List for 2011

2010 was a pretty good year for the Canadian Real Estate market. Although there may still be some improvements needed in terms of the process of buying and selling homes, overall Canada is still one of the most preferred destination of immigrants. I found an interesting article outlining some of one writer’s (a Real Estate lawyer) wishes for improvements that could be made to the buying and selling process to make it less stressful for all involved. A few of his wishes are:

1. Accessibility of information – It could be helpful if insurance companies provided a 20 year history of any claims made on any home.

2. Home Appraisals – It could be helpful if banks conducted home appraisals within 5 days of receiving a home loan application, once an agreement has been signed.

3. Insurance policies – It could be helpful if buyers and sellers were required to have a 5-year insurance policy for structural defects, basement moisture issues, leaks in the roof and mold - perhaps also a 1-year policy to include electrical, plumbing, heating and air-conditioning systems in the home.

To read how these wishes could make the home buying and selling process less stressful and other improvements that could be made, click here. I think he has some good ideas!

Until next time,
Jamie

Mistakes Home Sellers Can Make

Have you ever tried to sell your house and it seemed to take forever for it to sell? Is your house currently listed for sale and has been sitting on the market for quite some time without any interest? Are the offers you are receiving for you home far below your set price? If your answer is “yes” to any of these questions, then you may be interested in reading an interesting article I recently came across outlining five mistakes sellers can make when trying to sell their homes.

A couple of common mistakes sellers can make are:

1. Setting The Price Too High – There is no hard and fast rule in determining the price of a home, however some sellers overestimate the value of improvements made to their home. A REALTOR® will help you assist in assessing the market value of your home in comparison to other similar house listings.

2. Not Presenting The Home in It’s Best Condition – Before deciding to put your home on the market, consider hiring a professional cleaner to make your home show it’s best. De-cluttering the home should also be part of preparing your home for sale as a cluttered home may be perceived by buyers that it does not have enough storage space.

The article discusses other mistakes sellers can make as well.  I hope you find this article interesting and helpful! To view the article, click here.

Until next time,
Jamie

Real Estate Sales for October

We’ve entered the last quarter of the year, it's hard to believe we are almost at the end of 2010 already! In the Real Estate world, home sales have been stable since the third quarter of this year. The average price for homes sold in Barrie and District over the past ten months is up seven percent from the first ten months of 2009. What’s next? Will the market continue to be stabilized? Well here’s an update on sales activity for October in Barrie and District.


Since August 2010, residential property sales have consistently increased, edging up one percent in October over steady increases in August and September, on a seasonally adjusted month-to-month basis. However, the data also shows residential sales remained below last year’s record levels for the month of October. These records are from the MLS® System of the Barrie & District Association of REALTORS® Inc.

According to the President of the Barrie and District Association of REALTORS®, Catherine Gabe, the Real Estate sales market is now calmer as compared to early this year and buyers seem to be taking their time in making their buying decisions. To read more about the figures of real estate sales, click here.

At the present time it seems like we’re looking at a continuous balance of supply and demand in the real estate market, although in comparison to last year at this time sales remain lower than those record levels.

Until next time,

Jamie

Why You Still Need a REALTOR®

Buying and selling “stuff” can be easy, but it depends on the item. Sure, you can save some money if you sell something yourself, all profits go directly to you. However, buying or selling a house may be a different story.


It is not always advantageous to buy or sell a house by yourself without seeking the assistance of a REALTOR®. Buying or selling a house is most likely the largest financial decision you will make. REALTORS® are trained professionals who are very knowledgeable in all aspects of the real estate industry and whose job it is to assist you with any of your real estate questions and concerns. They are well versed in negotiating and may, in fact, SAVE you thousands of dollars.

REALTORS® have access to vast network of fellow REALTORS® and real estate listings which is very advantageous to most buyers. For sellers, REALTORS® are available to meet with various potential buyers at the buyer’s convenience, allowing the home owners to not worry about the inconvenience of “dropping everything” to show their home to a potential buyer who may or may not bother to show up for a scheduled viewing. For both buyers and sellers, REALTORS® guide their clients through all of the paper work (making sure everything gets where it needs to go), make valuable suggestions and keep track of important deadlines and appointments.

To read more about the benefits of using a REALTOR®, click here.

Until next time,
Jamie