Sunday, September 28, 2008

Real Estate For The Well To Do Is On The Slide

Experts involved in the Calgary Real Estate market say that the selling of high end homes is down drastically. The market downturn in Calgary and area does not have professionals spooked though, they say conditions are still strong.

"Cautious, price-sensitive purchasers are now weighing their options, waiting as long as six months for the right property to come along," the report says. "Properties that are priced well will sell, while those that are priced too high will linger."
Although people who buy an upscale house generally have deeper pockets than those buying an average home, factors that influence their decision are largely the same, said Lowell Martens, a realtor with Re/Max Mountain View.

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Tuesday, September 09, 2008

Real Estate In Canada Is About To Take A Plunge

Real estate experts across Canada have concluded that the decade long real estate jump is about to run off a cliff. Prices reaching of half a million for homes in Kelowna and Calgary are about to drop off significantly.

To analyze whether housing prices are overvalued, the researchers looked at current house prices in nine major Canadian cities. They compared these prices to their own calculation of what a balanced market price should be, derived from the relationship between house prices, rents and the cost of investing in housing in each market.
The study warned that the potential for price declines is greatest in cities that have a large supply of unsold inventory or a mismatch between the number of units and the number of households ready to occupy them.
Somerville concluded that only in Toronto are prices in balance with rents. In Halifax, Montreal, Ottawa, Regina and Winnipeg prices would need to drop by at least 20 per cent to be in balance, while Calgary and Vancouver would require a 7 to 11 per cent drop in prices to reach the study's equilibrium level. But the study found in Edmonton prices are actually below equilibrium, by 8 per cent...

Monday, July 21, 2008

US Bargain Real Estate

Some experts area sating that USA real estate is going to get even cheaper.

Attention, real estate shoppers: the entire U.S. sunbelt is now officially on sale. Prices in many areas of Florida, Arizona, Nevada and California have dropped 40 per cent from their peaks of a couple of years ago, to the point where the deals seem nearly too good to be true. In Naples, Fla., a three-bedroom, two-bathroom home that sold for $350,000 in 2007 is on the market for only $200,000. A starter home in Sacramento, Calif., that sold for $215,000 in 2004, is on offer for a mere $129,000. And remember: these aren't sale prices. They're asking prices. Article.

This means that in a couple of years your average Albertan can sell there home in Edmonton or Calgary for $500K, then move to sunny California and buy a home for $100K. This is an exaggeration of course, but if the trend continues any longer that 2012 it will be the reality.

Tuesday, July 15, 2008

Real Estate In Canada Is Continuing Its Cooling Trend

Canadian Real Estate is not in the same state as prices to the south of the border, but concern is mounting. Prices are still increasing in Canada, but softer markets in Alberta and British Columbia are blamed for the slowdown in increases.

New house prices rose in May at their slowest pace in almost six years, a further sign that Canada's real estate market is cooling, particularly in Alberta and British Columbia.

Prices rose 4.1 per cent in May from a year earlier, down from 5.2 per cent in April and the weakest since the 4 per cent registered in July, 2002, Statistics Canada said Friday.

On a monthly basis, prices remained unchanged between April and May.

Statscan said the May showing continued “a deceleration that started in September, 2006, due mainly to the softening market in Alberta and British Columbia.”

Saskatchewan continued to see the biggest increases. In Regina, for example, home prices rose 30.4 per cent, and in Saskatoon 30.2 per cent. Still, Statscan noted, Regina's showing slipped from 34 per cent in April and Saskatoon's from February's record 58.3 per cent.

In Alberta and British Columbia, the impact was noticeable.

The Price Of Thunder Bay, ON Real Estate Is On The Rise

The price of Thunder Bay real estate is on the rise. Traditionally the city was home to some of the most affordable homes in the country, but market conditions have changed and prices are climbing.

The president of the Thunder Bay Real Estate Board says home prices in the city are up four to five percent from last year and the shortage of homes on the market is largely responsible.

John Litt says the average price for a house in Thunder Bay right now is in the $120,000 range and people who already have houses seem to be content with what they have and are sitting tight.

So it's the best of times of times and the worst of times depending on whether you are trying to buy or trying to sell a home.

Thunder Bay's housing market has become a major seller's marketplace and those looking to buy a house are finding a lack of good, affordable homes or are encountering an all-out bidding war or must rush to close a deal. And with market analysts predicting current trends to continue, that's forcing prospective buyers to think later or be left in the dust.

Tuesday, June 24, 2008

Real Estate In Canada Has Been Taking A Bit Of A Hit Lately

Real estate in Canada has been taking a bit of a hit lately, with the mortgage and housing mess down south. Recently MoneySense put out a list of good places to buy in Canada based on affordability, strength of local economy, and momentum.

To help us gain an even better sense of a city's Value, we looked at local wages and figured out the number of years of average household income that it would take to purchase the typical local home. We downgraded communities where local residents couldn't afford to buy homes easily; we gave highest marks to cities where they could. Our reasoning was that places where homes are affordable are places where real estate prices are solidly rooted in economic fundamentals and are therefore unlikely to plunge. The differences between communities can be huge. In Regina, a typical family needs two-and-a-half years of income to buy a home; in Vancouver, a typical family needs nearly eight years of income. Talking strictly in terms of bang for buck, Regina is a much better place to buy. Full Article.

Some of the top performers were: Regina, Saskatoon, Winnipeg, Edmonton and Vancouver.

Snap Up Real Estate Canada Is Growing

Snap Up Real Estate has added new city pages.

Niagara Falls, Thunder Bay, Windsor, and Langley are all new additions to our city page index. If you have any comments of suggestions for the pages feel free to let us know.

Thursday, June 05, 2008

Real Estate Is Falling Off In Most Of Canada, But Saskatchewan Is Still Flying

Real Estate is falling off in most of Canada, but Saskatchewan is still flying. Property that was once hard to give away is now being sold to the highest bidder, and the bids are high. Great deals can still be found on vacation property in Saskatchewan if you look. Try these building lots for sale near Esterhazy, SK at $50K a pop.

...view of Round Lake and a north view of the Qu'Appelle Valley hills. A Lilac hedge borders the south side of each parcel and the north side is bordered by Ash. Frontages range from 240 ft, to 325 ft. with depths of 150 to 250 ft. The parcels are flat, accessed by pavement, have access to power, natural gas, telephone, septic tanks and private well. View the original listing with pictures.

If the BC coast is more your flavour check out this condo in Sechelt. It has all the space you will need, plus views of the ocean and a place for your boat.

Wednesday, April 30, 2008

Canada Has Become Infected With The Recession From The South

Canada has become infected with the recession from the south. The price of oil is at all time highs, and the economy is stagnant. The next 24 months could be a very bumpy ride for the Canadian economy hurt by the loss of manufacturing jobs.

The economy has sharply deteriorated to near recessionary levels and the cost of filling the tank and putting bread on the table is going to go sharply higher, Canadians were told Thursday.

A bleak economic assessment came from the Bank of Canada's quarterly monetary report, which warned that Canadian exports, particularly from manufacturers in central Canada, will be hard hit this year by the U.S. slump and tight money in the credit markets.

Wednesday, April 23, 2008

Saskatchewan Real Estate Is Red Hot, And Sees No Cooling Trend In Sight

Saskatchewan real estate is red hot, and sees no cooling trend in sight. But, don not despair, decent homes with decent prices can still be found.

In a city where the average selling price of houses is now $265,000, the report says first-time buyers looking for something affordable in Saskatoon are still finding bungalows in good condition for under $200,000 in west-end neighbourhoods such as Confederation Park, Fairhaven, Meadow Green, Mayfair and Westmount.

There are also condos to be had in apartment conversions in neighbourhoods such as Hudson Bay Park.

Should a first-time buyer look at going into a $200,000 detached house in the Saskatoon real estate market, carrying costs for a $180,000 mortgage would sit at about $1,150 a month for a conventional 25-year mortgage or about $976 for a 40-year mortgage. Those numbers were calculated by Re/Max using TD Canada Trust financing at 5.75 per cent for a five-year term. The mortgage rate payments were calculated before Tuesday's Bank of Canada half-point rate cut.

Tuesday, April 08, 2008

Canadian Real Estate News

The loss of jobs in Ontario is dragging down the Ontario real estate market. Not only are building permits down, but Ontario is pulling down the permit averages for the rest of Canada.

Ontario dragged down the rest of the country, with municipalities issuing $5.8 billion worth of building permits, down 1% from January, after peaking at $7 billion last spring. Take out Ontario, and the total value of building permits nationally would have jumped 9.8%. Article.

Permits for new structures are also shifting to multi-family dwellings.

Nationally, the value of non-residential permits fell 25.6% to $1.9 billion due to double-digit decreases in permits for all three components: institutional, commercial and industrial. Ontario construction intentions fell 16% to $2 billion, the lowest value since April 2007. Non-residential intentions in the province fell 44.9% while residential intentions were up 21.3%. Meanwhile, residential permits were up 21.3%. Article.

The Star has launched a new "website created to serve home buyers, sellers, owners and renters throughout the Greater Toronto Area." The site is

Thursday, April 03, 2008

Real Estate In Canada Is The Same As Always

You may think that real estate prices are too high, and no one can afford a home any more, but that is what people thought 10 years ago, and will ten years from now.

Yes, these are troubled times, we also may be getting closer to the end of this particular cycle but long term we will be just fine.

To buy real estate in 2008 will feel as troublesome as it did in 1966 or 1975 or 1983 or 1988 or 1991 or 2001 when we had all these troubled events (stock crashes, crisis, troubles) the previous year. And aren't you happy you bought then?

For all the 38 years I have been in this business there are the same stories every year.

There are too many Realtors in the business.
No young couple can afford to buy anymore.
I wish I bought 5 years ago.
Every Year!


Tuesday, April 01, 2008

Spring Real Estate Sales To Rise

Spring means that it is time for real estate prices to rise and the people to start buying and selling property. Canadian real estate enjoys the spring rush due the change in seasons, and winter restlessness. Try some of these recent additions to Snap Up Real Estate listings: four bedrooms in a great neighborhood in Calgary, Alberta for only $329K, a newer 4 bedroom home with a 2 car garage in Halifax, Nova Scotia for only $255K, or try a renovated bungalow in Toronto for only $406K.

Wednesday, March 26, 2008

Real Estate Property Listings Are Piling Up Quickly On Snap Up Real Estate

Real estate property listings are piling up quickly on Snap Up Real Estate. Check out some of this week's newest additions to the real estate game. A vacation home in Sorrento, BC is just what the doctor order for rest and relaxation. For the budget conscious try these three bargains: A mobile home in Nelson, BC, an eight year old vacation home in Nakina, ON, or a half duplex in Dartmouth, NS.

For investors we also have a great selection of properties. You can purchase a commercial building in Hamilton, ON for only $327K. Also, you could buy 143 Acres of development property in Revelstoke, BC, or a huge condo in downtown Montreal. Lastly there is a cabin on Kamloops Lake with two residences for only $385K.

Tuesday, March 25, 2008

Snap Up Real Estate Has Some Great Bargains

Snap Up Real Estate has some great bargains. Check out this week's newest properties:
- A small home on Brier Island
- try this great mobile home in Edmonton, Alberta
- or recreational or investment property in Field, Ontario
- how about a huge near new home in Brampton, Ontario
- a condo in North York
- maybe a renovated Calgary home for $260K
- or a really cheap home in Meteghan, Nova Scotia
- lastly, why not live in Massey Drive, Newfoundland?

Always list real estate for free with Snap Up Real Estate.

Tuesday, March 18, 2008

Snap Up Real Estate Has A New Real Estate Property Listing In Ottawa, Ontario

Snap Up Real Estate has a new listing in Ottawa, Ontario. This home has 4 bedrooms, 3 bathrooms, and a huge yard. This home also features a 3 car garage. The location of the home is Aylmer, QC and is priced to sell.

In real estate news the unsteady markets and continuing housing crunch south of the border is effecting Canadian markets:

The impact on Canada from the deepening crisis was sudden and unequivocal. Panic from the south spilled over to the Toronto Stock Exchange on Monday as investors worldwide cashed in their valuable resource stocks to cover losses and ensure quick access to their money. Canada will undoubtedly suffer from more shudders as the crisis runs its course. Article.

Also Revelstoke, BC is now the hottest real estate market in Canada. Yeah, that's right. The city's new ski resort is off to a great start.

Within hours launching its latest real estate endeavour, more than $ 35-million worth of property was snapped up by eager Revelstoke Mountain Resort investors on March 1, bringing the total sales to more than $100 million.Currently North America’s hottest destination, Revelstoke Mountain Resort is expected to be completed over 15 years and will include over 5,000 new housing units (1,500 apartments, 2,000 hotel suites, 850 town houses and 550 private plots), as well as more than 500,000 square feet of commercial and retail space, and a signature golf course.However skiers and boarders are more likely to be excited by the news that additional gondolas and chairlifts are expected to be completed in the winter of 2008/09. Revelstoke will then boast North America’s longest lift-serviced vertical descent.Since its opening less than three months ago in December 2007 with an eight-person, $16-million gondola and a high-speed quad chairlift, Revelstoke Mountain Resort has received rave international reviews. Article.

Wednesday, March 12, 2008

Check Out The Newest Properties Available On Snap Up Real Estate

Check out the newest properties available on Snap Up Real Estate:
$40K for a Saskatchewan Church
$389K for almost 5 acres and two dwellings on Christina Lake
$205K for 10 acres and a great home in Annapolis Royal, NS
$429K for 2 acres of river frontage in Saint John, NB
$120K for a 3 Bedroom Townhouse in Prince George
$80K for 100 acres of nature in Chipman, NB

These and other great deals on Canadian real estate can be found at with Snap Up Real Estate.

Don't Forget you can list your real estate for free with Snap Up Real Estate.

Wednesday, February 27, 2008

Snap Up Real Estate Has Some Great New Real Estate Property Listings For Sale In Canada

Snap Up Real Estate has some great new real estate property for sale in Canada.

Year round resort in Bobcaygeon, Ontario. Live and play in the great outdoors.

A cheap house and huge lot in Wakaw, Saskatchewan. It is in the middle of nowhere, but it is cheap.

A great house in Truro, Nova Scotia. Huge lot, Huge house, great deal.

40 Acres in St. Peters, Prince Edward Island. 40 Acres on the ocean. Unbelievable.

These properties are truly great deals, and great locations.

Tuesday, February 19, 2008

Canada Has A Vast Array Of Landscapes, Climates, And Cultures

Canada has a vast array of landscapes, climates and cultures. These factors make real estate in Canada a very interesting and intriguing venture. Check out some of the latest additions to Snap Up Real Estate's Listings.

Custom built home in Cocagne, New Brunswick.
Affordable Condo in Port Coquitlam, British Columbia.
Waterview property in LaHave, Nova Scotia.

Remember to list your home for free with Snap Up Real Estate.

Wednesday, February 13, 2008

Edmonton Journal Reports, Ignorance Is A Pitfall In Real Estate. Really?

The latest Canadian real estate news:

Edmonton Journal Reports, ignorance is a pitfall in real estate. Really?

When you line up around a block with 200 people to buy the condo in the sky that doesn't exist yet, put $20,000 down and plan to sell it as soon as it's built, look in the lineup and tell me how many people have the exact same mentality. Then all you need is for one guy to panic and drop his price to get out, and the average price in the whole building goes down, and you're completely at the whim of somebody else. You should only line up for U2 tickets. Article.

BMO reports slower housing growth, thus more afforability.

While new home prices should remain strong in 2008, the pace of growth will continue to moderate to about 2% to 3%. Article.

Tuesday, January 29, 2008

More Great Bargains On Canadian Real Estate

More great bargains on Canadian Real Estate.

An 18 unit motel in Rainy River Ontario is for sale. You can live and work in paradise for the rock bottom price of $450K. This is a great deal for a money pumping commercial property, but you will have to live in a out of the way town.

Also available is a large home in Georgetown Prince Edward Island. This home has been renovated and is such a low price you would barely have to work, or you could just retire here.

Keep checking back for more great deals.

Check Out Our Latest Deals On Canadian Real Estate At Snap Up Real Estate

Check Out our latest deals on Canadian Real Estate at Snap Up Real Estate.

Vacation property in Southern British Columbia, a 5 acre paradise. Christina Lake.

A Lower mainland condo that you can afford to live in. Vancouver.

Remember that you can always list your home for free on Snap Up Real Estate.

Sunday, January 27, 2008

Moody's Reports That All Sectors Of The Canadian Real Estate Market Are 'Green' Or Strong

All signs point to a strong Canadian real estate market. Moody's reports that all sectors of the Canadian real estate market are 'green' or strong.

In its latest Red-Yellow-Green (RYG) report for Canada, the ratings agency said each of the five market sectors in the country is 'green', that is strong, and shows greater strength than its US counterpart, with the sole exception of the commercial retail sector. Article.

Strong dollar, strong markets, low unemployment, Canada is staying strong during 'recession' woes of the US.

Wednesday, January 23, 2008

Canadian Real Estate Is Not On The Same Path As The US

Do not be afraid of what is happening in the US with regards to real estate, Canada is not the same economic environment. Canadian real estate can expect to stay much stronger than the faltering US sector.

Canada's real estate sector fundamentals are stronger than those in the U.S., said Ed Boomer, managing director of Canadian operations for U.S.-based shopping centre owner and operator Kimco Realty Corp.

"I don't think we're becoming anxious about the Canadian real estate market," he said. "If you're a well-placed, cash-based opportunistic player I think you can do very well."
Some areas of weakness include hard-hit manufacturing centres, where industrial and retail properties may not be the best assets to invest in, Mr. Boomer said.

US real estate is being hit hard with problems in the financial sector. In the next 36 months the US is going to see a very high mortgage default rate, making many properties available for cheap, this will not be the case in Canada.

Friday, January 04, 2008

The Stats Are In For Snap Up Real Estate In 2007

Over 116000 unique visits in 2007. That is up from 10,000 in 2006. Almost a 12 fold increase in traffic. At this pace we will compete will Google in a few years. Dreams.

The first week of 2008 has seen search engines and directories increasing the amount of traffic sent to our websites. Real Estate in 2008 is expected to be a hot topic, which is great for us.