Monday, December 8, 2008

Elegant and Prestigious Homes for Sale in Lorne Park and Churchill Meadows, Mississauga


This article appeared in the Toronto Star on Saturday, December 6th, 2008 and was reported by Michael Moldenhauer. It just brings some positive information from a third party. Agree with it/disagree with it, it's just some better news after the doom and gloom that we have been hearing. You will be seeing this article posted by many in the real estate business.

There's actually some good news out there, although you'd never know it most days. For example, the "Real Estate Trends" report recently released by the Scotiabank Group was remarkably positive once you got past the first line. As I have said in a previous blog, don't just read the first line and the last line. Get into the middle of an article and sometimes there is good news.

The opening line of the Global Economic Research report by Adrienne Warren of Scotia Economics bluntly declared that "Canada's longest housing boom of the postwar period has come to an end."

We all know that, but the balance of the report put that opening statement into some healthy perspective, something that has been sorely lacking in most recent media reports on the state of the housing market.

"We argue against taking an overly alarmist view to domestic housing prospects," says Warren. "This is not a U.S.-style bust caused by overbuilding, speculative buying and imprudent lending, but rather a cyclical slow-down accompanied by a valuation adjustment in several large centres (out West) where booming demand conditions and temporary supply constraints led to an over-shooting in prices."

Driving home the U.S. comparison, Warren writes that "Canada's mortgage market is significantly different than its U.S. counterpart, with a much smaller sub prime exposure, less interest rate reset risk, lower use of home equity withdrawal and investor mortgages and more conservative lending criteria.

"Canadian households are far less leveraged than those in the U.S., and less exposed to any erosion in underlying asset values, "Warren continues. "Record unsold housing inventories, mounting foreclosures, overbuilding and credit constraints are bigger factors behind the continuing and steep slide in U.S. home prices than overvaluation, none of which are major concerns in Canada."

"With builders in most jurisdictions beginning to slow the pace of new construction, and with a low risk of widespread foreclosures, the Canadian market does not fact the massive inventory glut underlying record-setting U.S. price declines."

Canada's housing market is the "least overvalued". There will be a correction in national average prices. This adjustment will occur in the 3 western province, and will leave intact most of the significant price appreciation of recent years. This speaks to the reason that it's always a good time to buy if you are buying for the right reasons, namely shelter and long-term financial security.

There never is pressure to purchase property, and if you are ready then call me and let's talk. I could cover all your questions. Even if you think that you would like to wait, that's okay too. Someone asked me, "When is it a good time to sell or buy property?" My answer to that is, when you are ready. Because of our diversity of nationalities in Mississauga, Oakville, and Burlington, buyers buy and sellers sell throughout the year. Holiday festivities keep us busy, therefore anyone looking to buy this time of year are actually interested. A house MUST be priced correctly in accordance to what the market is telling us. I have said it before, and I think it bears repeating -- we have come back to a normal market. The gold rush is over for the time being.

Contact Betty Bartusevicius to discuss the above article or to chat about real estate and how I can help at 905 828 3434 or directly at 416 427 1875
Re/Max Realty Specialists Inc., Brokerage

Contact me by email;

I can help you save time and money by shopping smarter;

There is no time like the present to begin your investigations into a property purchase or salethat will lead to sound decision making.

Experience is not expensive; it is Priceless.

Tuesday, December 2, 2008

Home Improvement Values

2008 will go down in history as a year that started as a Gold Rush and ended up making us anxious for the year to end. At this time of year and with the doom and gloom wind blowing around us, let's just read a good book, take some courses to learn something new, and surround ourselves with friends and family that will put a smile on our faces and make us feel good inside.

If you are thinking of buying in the prestigious Lorne Park check out the information on my web site regarding this great community. As well, Churchill Meadows is a family community with elegant and fine homes that are newer. Newer schools and a great new community centre make it appealing to many new home buyers because this community offers freehold townhomes and semi-detached that appeal to many first-time home buyers. The community of Sheridan Homelands is well known throughout Mississauga. There are schools that are within walking distance from most of the neighborhood and many parks for organized baseball and soccer during the season.

With 2009 just around the corner, we can start to think about our spring projects. As I sit here and look out my window and see snow/rain and clouds making things dreery, I take a few minutes and think about the landscaping, the garden, and the repairs that I may have to to the home when the warmer weather is back. These would include hanging older windows and doors, possibly a new roof, maybe remodelling a bathroom or kitchen. You may think about finally finishing that basement to give yourself extra room for your family. Many times I suggest to my clients, or prospects, that if you are considering listing your property it is a good idea for me to come by and just make suggestions as to how to improve your property in the least expensive way to make it more appealing to today's buyer. Also, if you are considering selling within the next year, then I think it's a good idea to get these suggestions so that you can do improvements, or repairs, at your leisure instead of having to delay that time for a FOR SALE sign to go onto your property. As you can tell by the tone of this letter, I do work more with buyers as a buyer's agent and first-time buyers.

I did some research regarding the renovations that will give you the greatest return when selling your property. Of course, you may disagree and other agents will have their own opinion. I got this information from the Appraisal Institute of Canada's 2004 Home Renovation Survey.

The top three renovations that get you the most money are:

  1. Bathrooms -- 75% to 100% return
  2. Kitchens -- 75% - 100% return
  3. Interior and exterior painting -- 50% to 100% return. Of course this is the least expensive thing to do.

Other renovations and their average rate of return (the value they add compared to what they cost) include:

  • Replacing roof shingles -- 50% to 80%
  • Replacing the furnace and heating system -- 50% to 80%
  • Renovating the basement -- 50% to 75%
  • Adding a recreation room -- 50% to 75%
  • Installing a fire place -- 50% to 75%
  • Up-grading flooring -- 50% to 75%
  • Building a garage -- 50% to 75%
  • Replacing windows and doors -- 50% to 75%
  • Building a deck -- 50% to 75%
  • Installing central air conditioning -- 25% to 75%

Well, the above information should keep you busy researching what you would like to do to your home for a couple of months anyway. You may decide not to do anything except wait for the warm weather. That's fine, too.

Do you want to know what your house is worth? Let's share a cup of coffee and talk about the market.

Contact Betty Bartusevicius to chat or for more information at 905.828.3434 or directly at 416.427.1875.

Re/Max Realty Specialists Inc., Brokerage

Contact me by email:

I can help you save time and money by shopping smarter:

There is no time like the present to begin your investigations into a property purchase or sale that will lead to sound decision-making.

Experience is not expensive; it is Priceless.

Monday, December 1, 2008

Elegant Lorne Park, Churchill Meadows Homes for Sale

With the winds of doom blowing around about the Real Estate Market these days, you may want to stay closer in touch with what is actually going on.

If you would like to receive the market watch automatically
and after you have a chance to look at it and would like to chat:

Contact Betty Bartusevicius at 905.828.3434 or directly at 416.427.1875.

Re/Max Realty Specialists Inc., Brokerage

Contact me by email:

If you would like a private viewing of any property, let's talk!

I can help you save time and money by shopping smarter:

There is no time like the present to begin your investigations into a property purchase or sale that will lead to sound decision-making.

Experience is not expensive; it is Priceless.