Royal LePage - Your Community Realty, Independently Owned and Operated, (905) 731-2000

 Jim Reid, Broker, (905) 731-2000

 

 

 

 

MICRO-NEWSLETTER JANUARY A 2007

"REID'S REALTY RIGHTS!"

 

"MARKET OUTLOOK"

Mortgage rate fluctuations tend to have significant short-term impact on real estate sales volumes.

As rates fall, many Buyers tend to wait a month or so to see if they will drop further. Similarly, if rates rise, many Buyers tend to wait for a second rise before they jump into the market.

Thus, as rates shift around in 2007, we will likely notice a fluctuation in the number of homebuyers in the market at any one time.

According to my banker and most economists, they expect the USA Federal Reserve to drop the prime rate below 5.25% as they gain confidence in controlling inflation. Canadian prime lending rates tend to be .75% above the USA rate.

The key is that they aren't projecting drops of 1-2%. No they expect the drops to amount to only  .25% to .5% before rising again. It looks to me that we are very close to the bottom of the cycle.

Recently, the CIBC introduced a better variable rate mortgage that is at .9% below prime rather than their .5% package of the past two years. Anyone who prefers a variable rate mortgage should get into this better package ASAP.

Lenders are quick to point out the vastly better performance of variable rate mortgages during this long-term cycle of declining rates. My concern is whether we are starting a long-term upward cycle?

There are five-year mortgages under 5% available nowadays. Maybe it is time to bet on the bottom of the cycle and to lock-in?

 

"REID'S REALTY RIGHTS!"

Home Owners and home Buyers have a lot of "Rights" or entitlements according to Jim Reid B.A., M.B.A., Broker, ABR.

Home Owners have these rights:

· To get the best possible selling price.

· To sell quickly.

· To get reliable & intelligent advice.

· To get accurate market data.

· To get relevant market data.

· To get regular feedback.

· To get salesmanship expertise.

· To get sales promotion expertise.

· To get advertising expertise

· To get marketing expertise.

· To get customer relations expertise.

· To get communications expertise.

· To get technology expertise.

· To get Internet expertise.

· To get home preparation expertise.

· To get valuation expertise.

· To get open house expertise.

· To get property showings expertise.

· To get lots of showings.

· To get buyer feedback.

· To get property investment expertise.

· To get legal expertise.

· To get financial expertise.

· To get negotiating expertise.

Etc., etc.

Home Buyers have these rights:

· To get the best possible price.

· To find their home quickly.

· To get reliable & intelligent advice.

· To get accurate market data.

· To get relevant market data.

· To get reliable follow-up.

· To get superior showings.

· To see homes meeting their needs.

· To get excellent financial advice.

· To get neighborhood information.

· To monitor favorite areas.

· To get maintenance expertise.

· To get a low interest mortgage.

· To get a reputable home inspector.

· To get an accurate market valuation.

· To see homes at convenient times.

· To not be pressured to buy.

· To get a summary of costs.

· To get a good lawyer.

· To get favorable terms.

· To get negotiating expertise.

When you hire Jim or Lou to become your professional personal realtor, you automatically get all of these rights and entitlements. Together, with more than 25 years of exceptional real estate performance behind them, you can count upon superior real estate investment results.

Also, Royal LePage - Your Community Realty remains the top real estate organization in York Region. With 500 agents, and a superb support group, we will do the best job for you.

So, if you are thinking of selling or buying a home, why not begin by calling Jim Reid or Lou Recine right now?

 

 

           

Office: (905) 731-2000 

E-Mail: rpms@sympatico.ca