Foreclosure News: Property Repossessions Decreases in 2011
Less owners are losing their homes, according to the latest article of the Quebec Federation of Real Estate Boards (FCIQ) That’s great news considering that in 2010 there were 2224 seized in the province of Quebec. In 2011, a drop to 1140 foreclosures, this represents a 19% decrease since 2010. And looking closely at the chart, you will see that in 2009 there was a high amount of properties repossessed. The hard times seem to be over? We shall see.
In the article, there was a detailed description on how the foreclosure process works, and the steps property owners took when having difficulties making the mortgage payments. We will update soon with helpful tips for property owners in distress.
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Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/
How’s the Market: Montreal Sales Going Strong – March 2012
The numbers for March sales are out!. The Montreal Real Estate Board informs us of the tenth consecutive monthly increase.
“MLS® sales increased by 4 per cent compared to March 2011, making March 2012 the second best month of March on record, identical to March 2007.”
Sales wise….
Something a little different happened with the property types. Usually it’s the condo market that always has the lead in terms of sales. Continue reading: How’s the Market: Montreal Sales Going Strong – March 2012
Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/
Have Quebec Properties Become Unaffordable? Read This!
This is one of the most informative articles on quebec Housing economy published this year. The FCIQ released the latest Window on the Market newsletter, in the section “A word from the Economist”, this month’s issue discusses the price increase in Quebec’s market since the 1980′s until the present date (and then some forecasts).
Get the ultimate answer to the perennial question:
How affordable are properties today compared to previous decades?
Here are some snippets from the article, along with graphics to illustrate the market changes over the past 3 decades. I highly encourage you to read the original article, to save it and/or print it. It will make a great Market Reality Check. Knowledge rules.
“Many people believe that the dramatic increase in property prices in Québec in recent years has made residential real estate unaffordable for first-time buyers (the average price of single-family homes increased from $110,849 in 2000 to $247,054 in 2011, a 123 per cent increase).
However, household incomes have also increased over the years and historically-low borrowing costs have helped to significantly reduce the financial outlay required to purchase a property. Ultimately, how affordable are properties today compared to previous decades?
Calculating the mortgage carrying cost, meaning the proportion of income that must be allocated to the monthly mortgage payment in order to buy a property, will help us accurately answer this question.”
Source: FCIQ.ca
Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/
How’s the Market: February 2012 – MLS Sales Stats
It is that time of the month when numbers and percentages are released by the MLS and Montreal Real Estate Board database. According to their latest report, there was a 9% sales increase throughout the Montréal Metropolitan Area as compared to February 2011. The ninth consecutive increase and the strongest one since April 2010.
Here is the point-form scoop:
- Active listings grew by 13%
- Condos are still on the sales lead, for the 23rd consecutive month
Continue reading: How’s the Market: February 2012 – MLS Sales Stats
Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/
How’s the Market: January 2012 vs Jan2011 Stats
The Greater Montreal Real Estate Board released the numbers from last month, and according to their report, January brought a 1% increase in sales for the markets in Vaudreuil-Soulanges, South shore and North shore. The montreal area had, however, a drop in sales Continue reading: How’s the Market: January 2012 vs Jan2011 Stats
Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/
December 2011: Year Ends with More Sales
December marks the 7th consecutive monthly increase in existing-home sales. Compared to sales from December 2010, in 2011 there were 7% more sales according to the Greater Montréal Real Estate Board (GMREB).
From all the areas that had increases; Vaudreuil-Soulanges (+39%), North Shore (+28%), Laval (+9%) and the South Shore (+2%). Only the Island of Montréal had a decrease in sales (-4%).
Sales increased for all property categories.
- Single-family homes 8%
- Condominiums 6% and
- Plexes 3%.
In terms of prices…
- Single-family homes had a decrease in median price (-1%) to reach $260,000.
- The median price of condominiums increased by 2% to reach $222,000,
- Median price of Plexes went up by 5%, reaching $405,950.
In a nutshell, The Island of Montreal had more listings and less sales in December 2011.
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Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/
Related Articles:
- April: Resale Market’s Best Month Since the Start of the Year
- Montréal Real Estate Market Continues to Favour Sellers
- Montreal Market Report: Condo Sales Pick Up in May
How’s the Market? Montreal Sales and Prices November 2011
www.youtube.com/watch?v=mKp12Mv-oFs
The november numbers are out already!
This time from the Montreal Real Estate Board. We had 3% more sales than in Nov 2010.
All property types had sales increase and prices went up by 4%.
Watch the video to get the details. I’m still working on the transcript!
If you’re not able to watch the video from your email, here is the permalink:
http://montrealrealestateblog.com/market-stats-nov2011/
Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/
Related Articles:
- Montreal Market Report: Condo Sales Pick Up in May
- Video Blog: Episode One
- Market Update: September Condo Sales Stayed Strong
How’s The Market? Provincial Third Quarter Update
Good morning Montreal! Nothing like a monday morning market and sale s chart to start your week of :) To give you a wider perspective on the quarterly market update: Montreal had 7,796 sales transactions, representing a 4% increase than last year’s quarterly sales. Median prices (houses) reached $270,000, translating into 6% more than last… [Continue Reading][ Visit my blog for the complete article ;) ]
Market Update: September Condo Sales Stayed Strong
The Greater Montreal Real Estate Board (GMREB) released the latest numbers, comparing last’s years market performance and price increases to this year’s. September 2011 had 1% more sales than September last year. Condos had 8% more sales, but the single family homes and plexes were down in sales. They also mentioned that sales were down… [Continue Reading][ Visit my blog for the complete article ;) ]
How’s the market: June and July’s Report
We had had quite a busy summer this year. Although earlier on it was said that 2011 would not be as busy as last year’s summer in terms of sale, it turned out to be a little better than expected.
June had 5% more sales than the year before and last month’s sales were not lagging behind either. According to the Montreal Real Estate Board, 13% more sales were done this year in July compared to 2010′s. Also, condos continue to take the lead with 19% more units sold than in 2010.
Thinking about selling your condo? Contact me for a free appraisal.
Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in condos and revenue property in the metropolitan area of Montreal. For buying or selling contact Deya at: 514.917.7889
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