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March 2014

Found 7 blog entries for March 2014.

Dropped by your office on chance you might be there, but no, busy realtors are out working. Johanne and I wanted to say thank you for the expertise and professionalism you provided to us. There are realtors who collect their commission, and there are those who always  go above and beyond. We felt we got the above and beyond. Appreciated, Bob & Johanna Haley  
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Current Discount Mortgage Rates

Mar   2014

Variable   Rate

2.35%

1   Year

2.89%

2   Year

2.59%

3   Year

2.79%

4   Year

2.97%

5   Year

3.09%

7   Year

3.95%

10   Year

4.29%

Prime   Rate

3.00%

*   Rates subject to change and OAC.
 
Canadian Qualifying Rate

Mar   2014

Rate

4.99%

Source: Bank of Canada

 
Current Posted Mortgage Rates

Mar   2014

Mar   2013

Mar   2012

1   Year

3.14%

3.00%

3.20%

3   Year

3.75%

3.55%

3.95%

5   Year

4.99%

5.14%

5.24%

Source: Bank of Canada

 
Current Bank of Canada Rate & Prime Rates
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Average House Prices by City

Jan   2014

Jan   2013

Jan   2012

Yellowknife

$321,250

$405,483

$429,429

Vancouver

$812,536

$748,651

$752,380

Victoria

$491,772

$421,939

$454,905

Edmonton

$343,545

$323,541

$317,995

Calgary

$444,153

$418,938

$394,655

Saskatoon

$332,133

$320,812

$309,828

Regina

$335,213

$299,700

$284,744

Toronto

$526,528

$482,648

$463,534

Hamilton-Burlington

$386,451

$349,943

$334,106

Ottawa-Carleton

$348,001

$343,382

$349,525

Quebec   City

$260,721

$266,692

$247,326

Montreal

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The trend toward stability that started about April of last year is continuing with a slight increase in sales volume in February to 412 compared to 394 in February of last year while the total number of listings at 3,770 at the end of February while seasonally increasing is still tracking below this time last year when the total was 4,092. Prices appear relatively stable tracking only slightly down in most areas and property types compared to this time last year whereas the average sale price was notably higher for the month due mostly to the sale of a single condo for $5 Million. Our real estate board is very careful about how they depict the market, however, the media often seem successfully dramatize things and put a different spin on things. Also,…
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As an extensively recognized and awarded top selling associate and office owner with RE/MAX, the number one real estate company worldwide, now operating in 96 countries, I have had the good fortune to have established a vast network, getting to know the most successful Realtors from all around the globe, exchanging ideas on sales, marketing and world class client service. We also regularly introduce each other to our closest trusted family, friends and clients to ensure they can receive the same high standard of service and care that we would provide if we were able to ourselves. When you are considering buying or selling in any market, anywhere, please call me first. Please allow me the privilege of introducing you to known professional who we can trust…
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On December 13, 2011 through order in council, the government of British Columbia created an important new regulation related to depreciation reports, affecting all strata corps in B.C. with at least 5 units or more. There are more than 500,000 strata property owners in BC in about 29,000 strata corps. This new rule required all stratas formed on or before then to either complete a Depreciation Report by Dec. 13, 2013, or to opt out with a 75 per cent or more vote of owners, at either a special general meeting or AGM. Newer strata corporations will have until six months after their newly formed strata's second AGM. In my view this was an excellent move for consumer protection. What exactly is a depreciation report you may ask? Simply stated, a…
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Canada Mortgage and Housing Corp. has raised mortgage insurance premiums for the first time since the 1990s, and signaled more hikes could be on the way. The increases, which will apply to policies that are obtained from May 1 onward, amount to about 15 per cent on average. The move was quickly copied by rival mortgage insurer Genworth MI Canada Inc. CMHC executives said the higher premiums would mean an extra $5 a month for a borrower with a 95-per-cent loan-to-value (LTV) ratio and a loan of $248,000. But the increase will be more sizable than that for many people. The move is part of a transformational shift at the Crown corporation, which sits at the centre of the country’s housing market. CMHC is attempting to behave more like a private-sector…
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