Oshawa real estate

“Conditions in the resale housing market have improved remarkably this spring,” said Debbie Dawson, President of the Durham Region Association of REALTORS®. “While April’s 843 sales are lower than the 989 reported in April ‘08’; sales are up by an outstanding 21% from March’s 694.” 

Average selling prices in the Region remain consistent at $269,596 for April ‘09’ only 2% lower than April ‘08’ $275,751 and 2% higher than the $263,970 recorded in March ‘09’

A report released today by RE/MAX confirms that entry-level purchasers are now the engine driving home-buying activity in almost every major centre in Canada.

The 2009 RE/MAX First-Time Buyers Report highlighting first-time buying activity in 32 residential housing markets across Canada found that improved affordability is prompting many first-time buyers to get off the fence, out of the rental, and into the market. While a sense of caution still prevails, more and more first-timers are finding it hard to pass up the chance to become homeowners in today’s buyer-centric real estate climate. Increased inventory and longer days on market coupled with the lowest lending rates ever are presenting opportunities that have not been seen in almost a decade.

“While the current economic crisis has caused some first-time buyers to either take it slowly or apply the brakes, home ownership remains a top priority for those who are able to take advantage of reduced carrying costs, rock bottom interest rates and lower house prices,” explains Michael Polzler, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. “Affordability has greatly improved and buyers are firmly in the drivers’ seat in just about every market we surveyed. The new reality is that homeownership remains well within reach for most first-time buyers.”

Sometimes I just love this business. Being a realtor in the Oshawa area, with the best values in the GTA is a blast! Mike and I have been working extra hours the last few weeks, trying to keep up with the first time buyers who can’t seem to get enough of the home selection, prices and low interest rates.

Did you know that through our contact at TD Canada Trust you can now get a mortgage rate of less than 4% for a five year term? Call Brad Drumm at 905-431-7837 or email Brad at  brad.drumm@td.com.  Don’t forget to tell him that Roger Bouma. told you to call.

As expected the first time buyers have noticed the great home values in the Whitby, Oshawa, Courtice and Bowmanville markets.  It seems that buyers can’t resist the larger selection of available homes and the five year term mortgages for less than 4%.  We have noticed that 16 of our last 20 sales have been below $230,000.  Did you know that $160,000 will now buy you a tidy North Oshawa semi-detached home? With a 5% downpayment this home will cost you less than $1,040 per month including your mortgage payment and property taxes. How much are you paying for rent? 

Is it time to start your search?

Call Mike Bouma, Sales Representative, RE/MAX Ability Real Estate Ltd, at 905-434-5452

After the success of our recent first time buyer seminar, we have decided to do it again!

Saturday March 14th, 2009, starting at 10:00 a.m. we will be hosting this FREE seminar for first time buyers at the Whitby Branch of TD Canada Trust located at 404 Dundas Street West. Brad Drumm, Area Mortgage Manager with TD Canada Trust will discuss the various mortgage products available and explain how they affect the monthly cost of carrying homes in different price ranges. Brad can also start the process of pre-approving you for a mortgage!

The home buying process doesn’t have to be complicated. Mike and I will explain the steps to home ownership, show you sample listings of homes in different price ranges within Durham, and answer all you real estate questions.

Come and enjoy this relaxed, no pressure event and leave with tonnes of useful information. If you or anyone you know is interested in attending this event, please call Mike Bouma at 905-434-5452 or visit our website www.bouma.ca/seminar.html

Roger Bouma. Broker
RE/MAX Ability Real Estate Ltd, Brokerage
www.Bouma.ca
905-434-5452