Blog Entries tagged 'Economy'

It's been a good year so far

admin@tamerfahmi.com — Tue, 07 Sep 2010 05:00:00 +0100

The Greater Hamilton-Burlington area resale market reported a total of 1021 units sold in August, indicating a decrease of 9.5 per cent from the same month last year but an increase of almost 2 per cent over July of this year, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB). Total unit sales for the first eight months of 2010 are being reported at 8.1 per cent higher than the same period last year, whi [...]

Duelling reports on housing

admin@tamerfahmi.com — Wed, 01 Sep 2010 05:00:00 +0100

A U.S.-style housing crash is unlikely in Canada, says a study by the C.D. Howe Institute.

A decline in underwriting standards played an essential role in the American housing boom and subsequent bust. That has not been the case in Canada, says the study released Tuesday.

It comes on the heels of another study by the Canadian Centre for Policy Alternatives, which said the Canadian housing market is a bubble ready to burst. It also shows the debate that economists are having over [...]

How to find the perfect home

admin@tamerfahmi.com — Tue, 17 Aug 2010 05:00:00 +0100

To help you find your perfect home, one of the questions to ask yourself is what kind of neighbourhood you want to live in.

Looking for a home can be an exciting and exhilarating experience. But before you start your search, you first need to figure out where you want to live and what your housing needs will be both now and in the future.

To help you find the home that's right for you, Canada Mortgage and Housing Corporation (CMHC) suggests you ask yourself the following que [...]

Baby it's hot out there! But what are the costs?

admin@tamerfahmi.com — Mon, 05 Jul 2010 05:00:00 +0100

It is really not so bad, we love summer and all the fun things that comes with it. We love the sights of summer, the smells of summer and the tastes of summer, but not the electric bills that comes with keeping us cool in the heat of summer.

Here is some information about the new tiered pricing system for your electricity that was implemented on May 1, 2010

Tiered Prices

6.5 cents

per kilowatt hour (kWh)

energy use up to and including 600 kWh per m [...]

Demand and supply coming into balance in resale market

admin@tamerfahmi.com — Fri, 26 Mar 2010 05:00:00 +0100

OTTAWA - March 15th, 2010 - With rising activity in Toronto offset by lower activity in Vancouver, the number of homes sold through the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards edged lower in February. In recent months, national sales activity has slowed while new listings continue to rise, resulting in a more balanced national resale housing market.

According to statistics released by The Canadian Real Estate Association (CREA), seasonally [...]

List my home during the holidays? Are you crazy?

admin@tamerfahmi.com — Mon, 07 Dec 2009 05:00:00 +0100

With all the insanity of social engagements, gift buying, wrapping, cooking cleaning and the general stress of the holidays, why would I list my home for sale NOW?

Imagine a perfect storm... a low listing supply, serious buyers, a home that smells of freshly baked gingerbread and is all tidy and vacuumed with stockings hung by the fireplace with care! Get the picture... it is the perfect time to list your home!

People who look for a home during the Holidays are more seri [...]

2009 Home Renovation Tax Credit... What you need to know!

admin@tamerfahmi.com — Sat, 28 Nov 2009 05:00:00 +0100

This credit is based on eligible expenditures for work preformed or goods acquired after January 27, 2009 an before February 1, 2010.

An individual's principal residence where it is owned by the individual and ordinarily inhabited by the individual will be considered as an eligible dwelling.

The credit will only be available for the 2009 tax year and applies to eligible expenditures of more than $1,000 but not more than $10,000 resulting in a maximum credit of $1,350. ($9,0 [...]

Are Canadians better to go Fixed or Variable? BMO Mortgage Report

admin@tamerfahmi.com — Mon, 16 Nov 2009 05:00:00 +0100

Every homebuyer faces the age-old question of whether to choose a fixed or variable rate mortgage. A new report by BMO's Economics Department provides valuable insights to help consumers make the right choice.

"The question of whether to lock in to a longer-term fixed mortgage rate or stay in a variable rate has become an increasingly complex and important issue," said Doug Porter, Deputy Chief Economist, BMO Capital Markets. "Short-term rates ar [...]

Hamilton - Burlington real estate market one of the healthiest in the country.

admin@tamerfahmi.com — Mon, 05 Oct 2009 05:00:00 +0100

(October 5, 2009 - Hamilton, Ontario) The Hamilton-Burlington area resale market reported a total of 1,216 units sold in September, indicating an increase of 20 per cent over the same month last year. The total unit sales for the first three quarters of 2009 are being reported at 2.6 per cent lower for the same period last year, while new units listed are 8.8 per cent lower for the year-to-date, according to Multiple Listing Service® (MLS®) statistics released by the REAL [...]

Real estate recession over, new stats show

admin@tamerfahmi.com — Fri, 25 Sep 2009 05:00:00 +0100

Meredith Macleod
The Hamilton Spectator
(Sep 25, 2009)

Bidding wars are back for homes in Hamilton and Burlington.

Local realtors say houses are being snatched up quickly. A survey released yesterday by ReMax suggests home prices are ahead of the record levels of 2008 in seven of 11 markets across Canada.

Tamer Fahmi, broker at Hearth and Home Realty in Burlington, says there is strong activity across all price ranges and housing types.

A well-priced, [...]

MLS® home sales forecast revised

admin@tamerfahmi.com — Fri, 28 Aug 2009 05:00:00 +0100

Have you noticed that the pace in the real estate market has regained momentum lately? Well your observations are accurate, according to the latest REALTORLink® News Release by the Canadian Real Estate Association (CREA).

Mr. Dale Ripplinger

2009/10 CREA President

It is clear that the real estate market has nationally shifted to a "Buyers' Market" a long overdue relief for many buyers who are looking to enter into the home ownership club.

While news releases are usually too generic in nature, it is most important that you analyze the specific market that you are considering to participate in.

Having primarily served the Burlington and surrounding area since 1989, at Hearth & Home we believe tha [...]

Great news for 2009...REAL ESTATE IS ON SALE!

admin@tamerfahmi.com — Thu, 08 Jan 2009 05:00:00 +0100

After a good run of a buoyant Sellers' real estate market the pendulum and power has just shifted to the Buyers' side!

If you are a first time Buyer it is a great time to negotiate your way into home ownership. Just like Boxing Day sales, the deals are better now than they have been through good economic times. So instead of buying that big screen plasma TV, computer or new sofa, it's time to invest in a piece of real estate right now! The added bonus for you is th [...]

CREA President comments on the Canadian real estate market

admin@tamerfahmi.com — Sun, 26 Oct 2008 05:00:00 +0100

Cal Lindberg

The President of The Canadian Real Estate Associa [...]

New MLS® residential listing levels reach new heights in July

admin@tamerfahmi.com — Fri, 05 Sep 2008 05:00:00 +0100

OTTAWA - August 29th, 2008 - The number of new listings of homes for sale on the Multiple Listing Service® (MLS®) of all real estate Boards in Canada set a new record in July 2008, according to MLS® statistics released by The Canadian Real Estate Association (CREA).

New MLS® residential listings numbered 80,147 units in July 2008, up 1.4 per cent from the previous month and 0.5 per cent above the previous record set in May 2008. This is the first time in any month that n [...]

Canada's Best Places to Live

Wed, 07 May 2008 05:00:00 +0100

Burlington, Ontario ranks number 8 in Canada for best places to live, 3rd in Ontario and 1st in the Greater Toronto Area. To see the full article, Click here...

Source: MoneySense Magazine: May 2008