Equity Mortgage?

Buying a home? CMHC could soon kick in 10% of the cost — for a price The government is earmarking $1.25B over three years for something it's calling a 'shared equity mortgage' ORIGINAL ARTICLE: Pete Evans · CBC News · Posted: Mar 19, 2019 4:25 PM ET | Last Updated: today The federal budget unveiled on Tuesday includes a plan that could see Canada's housing agency, the CMHC, pitch in up to 10 per cent of the purchase price of a home, if the prospective buyer qualifies. (Ty Wright/Bloomberg)646 comments The 2019 federal budget includes a tantalizing pitch for prospective first-time home buyers — one that could see Canada's housing agency contribute up to 10 per cent of the purchase price of a home and bring down the mortgage load for borrowers. The budget offers the program, known as the First Time Home Buyer Incentive, as a way to help with housing affordability. The government is earmarking $1.25 billion over three years for something it's calling … [Read more...]

FEBRUARY 2019 STATISTICS

Hamilton, ON (March 1, 2019) - The REALTORS® Association of Hamilton-Burlington (RAHB)reported 735 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in February, 2019. This is a 4 per cent drop from February last year; however, a 24 per cent increase over January 2019. The average price was up from February 2018 by 1.9 per cent to $557,135. “Last year this time we saw the beginnings of a more balanced market,” says RAHB CEO George O’Neill. “The data for January and February is trending upwards and could lead into a healthy spring market for both buyers and sellers.” The number of sales for single family properties within the entire RAHB market fell by 2.9 per cent compared to the same month last year, and the average sale price decreased by 0.7 per cent. Townhouse sales activity across the entire RAHB market area was also down from February 2018 by 4.2 per cent, while the average … [Read more...]

44 Lakeview Dr, Stoney Creek – $499,900

Seize your chance! Fantastic & rare opportunity await from this large lot with views of Lake Ontario. Enjoy the tranquil lake views from across the road after you renovate or build your dream home. Close to the QEW, all amenities and of course access to the lake. Current home in need of "TLC" - is being sold "As-Is, Where-Is". … [Read more...]

Hamilton Real Estate – January 2019 Statistics

Sales down, prices up! Hamilton, ON (February 4, 2019) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 593 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in January, 2019. This is a 3.6 per cent drop from the same month last year. The average price was up by 4.7 per cent to $550,058. “This is a promising start to 2019,” says RAHB CEO George O’Neill. “For sellers, the average price of a home has increased over 100 per cent since 2009. For buyers, sales activity has slowed, the number of new listings has increased, and we are sitting firmly in a balanced market.” The number of sales for single family properties within the entire RAHB market fell by 2.8 per cent compared to the same month last year, and the average sale price increased by 7 per cent. Townhouse sales activity across the entire RAHB market area were also down from January 2018 by 2.6 per cent, while … [Read more...]

RAHB December Real Estate Stats – 2018

Hamilton, ON (January 2, 2019) – The REALTORS® Association of Hamilton-Burlington (RAHB)reported 534 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in December, 2018. Although this is a 26 per cent lower than the same month last year, the average price was up by 2.6 per cent to $543,210. Year-to-date (YTD) sales activity was down by 17.6 per cent from this time last year, and down 12.2 per cent from a decade ago. Average YTD price was also down from a year ago by 1.4 per cent, but up by 90 per cent from 2008. “As we close out 2018, we’ve experienced a different market than the ones from 2016 and 2017,” says RAHB CEO George O’Neill. “Across the RAHB market area we’ve seen decreases in various statistics when compared to last year; however, consumers who have owned their property for the past several years have experienced gains in the value of their property.” The number of sales for … [Read more...]

Hamilton home prices have skyrocketed 70% in the past 5 years: report

Mortgage stress test causing decline in housing affordability, says CREA economist CBC News · Posted: Dec 18, 2018 11:10 AM ET | Last Updated: December 18 Real estate prices in Hamilton and Burlington have seen the fourth-highest increase in Canada over the past five years. (Jonathan Hayward/Canadian Press) Home prices in the Hamilton area have skyrocketed 70 per cent over the past five years, according to a new report from the Canadian Real Estate Association (CREA). The price increase in the Hamilton-Burlington market — where homes have an average price tag of $581,900 — is the fourth highest in Canada, the report says, but the jump was even greater in Niagara Region. Since 2013 years prices have leapt a staggering 79 per cent there, although the average cost of a home there at $393,500 — is almost $200,000 less than Hamilton. CREA economist says the latest numbers indicate that government attempts to slow … [Read more...]

RAHB – Real Estate Statistics Nov – 2018

November Hamilton/Burlington Sales down, prices still up... The REALTORS® Association of Hamilton-Burlington (RAHB) reported 862 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in November, 2018. This is a 17.1 per cent decrease from the same month last year. Year to date, sales are 17.4 per cent lower than last year at this same time. The sales-to-new-listings ratio, which can point to whether a market is in favour of sellers (above 60 per cent) or buyers (below 40 per cent), was 71.2 per cent – the low end of a seller’s market. For comparison, in November 2017 the ratio was 69.9 per cent. “The numbers this month point to a seller’s market; however, this number represents our entire market area that covers Hamilton, Burlington, Haldimand and Niagara North, and may not be indicative for each individual area.” says RAHB CEO George O’Neill. “Each area is different and distinct, that’s why … [Read more...]

Hamilton Real Estate – October Sales

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,035 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in October, 2018. This is a 13.1 per cent decrease from the same month last year. Year to date, sales are 17.7 per cent lower than last year at this same time. The sales-to-new-listings ratio, which can point to whether a market is in favour of sellers (above 60 per cent) or buyers (below 40 per cent) was 60.1 per cent. This is higher than last month and on the cusp of returning to a seller’s market. For comparison, in October 2017 the ratio was 65.5 per cent. “The single family market in the overall RAHB area remains in a balanced position, with a good inventory of homes for those looking for a detached property,” says RAHB CEO George O’Neill. The number of sales for single family properties within the entire RAHB market fell compared to the same month last year, while the … [Read more...]

Hamilton Real Estate – June 2018 Statistics

  RAHB REALTORS® RELEASE JUNE STATISTICS PRESS RELEASE – For immediate releaseJuly 5, 2018 (Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,257 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in June, 14.2 per cent fewer than the same month last year and 19.2 per cent fewer than the 10-year average for the month. All property listings were 19 per cent lower than the same month last year, but 1.1 per cent higher than the 10-year average. Residential sales were 13.7 per cent lower than June of last year, with residential freehold sales 13.3 per cent lower and condominium sales 15.6 per cent lower than the same month last year. “Having a more balanced market this year really showcases how busy the market was for the last few years,” says RAHB CEO George O’Neill. “Sales and listings are down from last year, but they’re being compared to a year impacted by government regulations. The regular spring … [Read more...]

May ’18 Real Estate Stats – Making sense of this market

RAHB REALTORS® Release May Statistics Jun 5, 2018| Press Releases The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,317 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in May, 27 per cent fewer than the same month last year and 18 per cent fewer than the 10-year average for the month. All property listings were 19.8 per cent lower than the same month last year, but 5.4 per cent higher than the 10-year average. “There’s definitely been a trend to fewer sales compared to the 10-year average since the spring of last year, when the Fair Housing Act came into effect and, coincidentally, the real estate market underwent a significant change,” said RAHB CEO George O’Neill. “However, the local real estate market is stable and is, in fact, following the normal progression of increasing spring-time sales from the lows of December and January.” Overall, residential sales of 1,273 units were 26.2 per cent lower than May of last year. … [Read more...]