REAL ESTATE NEWS re: Bank rate drops

 

Last week, The Bank of Canada made their first interest rate announcement of the year and shocked everyone by lowering their overnight rate by 0.25%. The announcement was made at 10:00am (January 21st, 2015).

The rate has been unchanged since September 2010 which was the longest unchanged streak in history. This means the prime rate is now 2.75%.

Economists have been predicting that the prime rate will remain unchanged until sometime in 2016 and some even longer than that.  Now with this rate cut, things look very good for anyone with a variable rate mortgage or line of credit.

This decision doesn't affect fixed mortgage rates. While variable rate

mortgages and lines of credit are affected by prime rate, fixed mortgage rates are determined by bond yields which have been declining rapidly recently and have reached their lowest levels in history.

It may also be a great time to consolidate any higher interest debt into your mortgage to take advantage of such low rates and lowering your overall monthly payment and amount of interest you are paying significantly.

Airbnb - Sublets in over 5,000 cities in 190 countries means you'll be at home anywhere in the world but...

Airbnb - renting a home, an apartment or a room...With more than 15 million nights booked worldwide, Airbnb is the world leader in travel rentals. You can rent unique places to stay from local hosts in 190 countries... but read more below

http://www.thestar.com/business/personal_finance/2014/07/15/is_airbnb_legal_in_ontario.html#

 



Sutton Group - Signature Realty Happy

REPAIRS AND UPGRADES IN YOUR HOME...

During the process of buying, selling or renting a property, you often learn about recommended or required repairs and upgrades. This can happen as a result of the home inspection as well as your knowledge of market and comparable homes. Of course, the first thing YOU want to know is, "How much will that cost?"

Pillar to Post is pleased to offer their Residential Construction and Remodeling Estimates cost guide, which provides estimated cost ranges for repair and/or replacement of the major systems and components in a home. It also includes general guidelines for the life expectancies of those systems. This information can help you to make informed decisions when you are considering home repairs or improvements, and is especially valued before your property is listed. Below is just a sampling of Pillar to Post list of estimated costs for hundreds of repairs/upgrades and this is a link to Complete Cost Guide: http://www.pillartopost.com/pdf/2/CostGuide.pdf

Floors
Hardwood Floor Refinish	$2-$5 / sq. ft
Carpet-clean	$100 / room
Ceramic Tile	$5-$10 / sq. ft
Kitchen
Renovation	$7,500 +
Counter-laminate	$40 / lin. ft
Kitchen counter-marble	$75 / lin. ft
Security System
Alarm System	$2,500
Alarm Monitoring	$30 / month
Deck
Pressure Treated	$15-$25 /sq. ft
Custom Designed & Built	$50-$75 / sq. ft.
Windows
Skylight	$750 and up
Thermal Glass (existing frame)	$30 / sq. ft.

 These estimates reflect the average basic costs for supplies and installation of building materials in United States and Canada. Costs may vary depending on regions, upgrades, complexity, and disposal fees.

DETACHED HOUSE IN NIAGARA - ON -THE - LAKE for sale now!!!

Client Remks: Remarkable & Spacious 2 + 1 Bedroom House In Niagara-On-The-Lake. New Furnace-2012, New Roof-2012. New Professionally Finished Basement-2012 With: A Separate Entrance, Huge Study/Recreation/Art Studio/Office Space & Bedroom. Whole House Freshly Painted. Open Concept Design With Decorative Columns, Crown Mouldings, Hardwood Floor & Staircase. Bright-Family Size Kitchen With Custom Cabinetry, Pantry, Breakfast Bar, Serving Island. Professionally Landscaped.

Extras: All window coverings, all electric light fixtures. Stainless steel appliances: fridge, stove & dishwasher. Garden shed. Quiet country location only steps from lake and access to boat lunch & few min to Niagara-on-the Lake downtown!!!

Check out the link: House in Niagara-on-the-Lake

Luxury Mimico Condominiums just 10 minutes to Union Station

On The Go Mimico offers the city’s ONLY residential condominium directly connected to the GO Transit system. You can work and play downtown and return home to your comfy Mimico neighbourhood with the GO station accessible from your lobby.

Edgy design and the latest in contemporary finishes combine with smart technology and a compendium of building amenities to offer a lifestyle that is truly exceptional.

The prices start from: $261,900 for One Bedroom suites, $402,900 for Two Bedroom, $483,900 for two Bedroom + Study. At the moment the project is NOT open to the public and the Special Incentives are offered when you by now.

OWNERS INCENTIVES:

- 3 Years free Maintenance Fees or 5% Down Program

- Parking (worth $35,0000 Free for all suites)

- Free kitchen Island

- Rental Guarantee

- Free assignments and much, much more...

Stunning Bronte Creek offered at $539,900

Ravine - Premium Lot!!! Stunning Bronte Creek 3 Bedroom Townhome. Monarch's The 'Ellis' Featuring Approx 2,233 Sqft As Per Builder's Plan. Double Door Entry. $$$ Spent On Upgrades: Upgraded Dark Solid Oak Hardwood Floors,Staircase&Pickets,Upgraded Kitchen Cabinets,Skylight In Upper Hall,Enlarge Ensuite Shower,Enlarge Soaker Tub,Completely Finished 2-Tier Deck In The Back Yard, The List Goes On & On...; On...Finished Family Room With Gas Fireplace In Lower Level!!!

Detached house offered at $299,900!!!

For Sale - DETACHED HOUSE in Heart Lake East!!! - $469,800

For Sale - DETACHED HOUSE in Heart Lake East!!! - $469,800

Outstanding 4+1 Bedroom Approximately 2000 sq ft Detached Backsplit 5 Level In Heart Lake East. First Time On The Market!!! For Sale By Original Owner!!! Pride Of Ownership!!! Lots Of Upgrades: Family Room With W/O To A Gorgeous Patio With An Inground Pool, Side Yard, Great Layout With Eat-In Kitchen, 3 Washrooms, Wood Burned Fireplace, Windows 2012, Freshly Painted, Side Entrance Leading To An In Law Suite 850 sq ft W/Kitchen, Breakfast Area, Family Room & Bedroom,... And Much, Much More.
Included: All Electric Light Fixtures, All Window Coverings, Dishwasher, Stove, Two (2) Fridges, Washer And Dryer, Two (2) Sheds.
*For more information go to www.GTAhomesforu.com