CAMP X was set up in 1941 as a top secret faciity for training spies for the Allied Forces, including the French Underground and eventually, the United States Secret Services. Founded by the British Secret Service, with the help of a Canadian businessman, William Stephenson, William Stephenson's code name was "Intrepid" and his story is told in the book "A Man Named Intrepid".
Nestled on the shores of Lake Ontario, just 30 minutes east of Toronto, history played out in secrecy that only came to light several years ago.
One of the men who was trained at that facility was a man by the name of Ian Fleming, who would later create the world's most famous spy, James Bond. Apparently when Ian Fleming was training at CAMP X he stayed with family in Toronto on Avenue Road - right across the street from the Saint James Bond Church. (The church was named from the merger of St. James Prebyterian and the Bond Street Congregational Churches)
According to historical accounts, Ian Fleming was not quite the killer that Agent 007 was. Apparently, when it came to having to "kill" an "enemy agent", he was unable to complete his mission and kill someone in cold blood.
Check out this story and more at this link >> http://webhome.idirect.com/~lhodgson/ianfleming.html and all of the history of this amazing top secret installation.
2008 was a year of change and challenge for real estate in the Greater Toronto Area, as it was with most sectors of the economy. The average price increased fairly substantially in the Spring, as it does in most years, but stalled and fell back as we moved into the Autumn market. (Yes. I purposely avoided using the term "Fall" market.)
Where are we heading? That's a great question that no one can answer with any certainty While the average price fell in October, it rebounded in November (see graph on reverse). However, the total number of sales for the month of November was down by 50%. A lot will depend on interest rates, rental vacancy rates and, particularly in certain areas, job stability (e.g. GM in Oshawa).
I personally believe that we are seeing a fantastic opportunity for buying real estate, whether it is as a first-time buyer or buying investment properties. Will it get better? It may, but things can change very quickly and we often don't know the opportunity is gone until it's too late. If your "personal economy" allows, it may also be a great time to consider a "move up" as the higher-priced segment of the market has seen more pressure-but it must be done very carefully. You don't want to end up replacing the "Seller in trouble" whose situation you just finished taking advantage of! As the saying goes, "It's always the right time to buy a great home, but it's never a good time to buy a wrong home!"
Whether you, or someone you know, are considering a first purchase, an investment property, moving up, down or even out of the area or the market - take a look at the graph on this page. It illustrates the price trends for the Greater Toronto Area, not only month by month, but also over the last several years. Call me to discuss how to use this information to your advantage. Timing is everything! Let's get together and look at when to buy or when to sell and, if you're doing both, which order to do it in. (If you wish to receive a monthly update, just email me and let me know.)
Finally, (and I HATE having to add this paragraph, but if I didn't, I wouldn't be doing my best job for you) let me say that I hope and pray that you don't find yourself faced with the prospect of having to sell, or worse lose, your house due to the economic factors that we currently face. If it appears as even a remote possibility, don't wait to contact me. I am here to help and I have experienced many challenging real estate markets over the past three decades that I have been a Realtor. Unfortunately, in past situations, people have called me when it's too late and the Big Bad Wolf (or the Mortgagee) is at the door. Before you lose your job, have your credit downgraded or lose your equity, I may be able to help you find alternatives, but I can't do much to help when the damage has already been done. Denial could cost a chance to look at other options that may be available rather than having to sell your home. Let's look at them while we can. I would much rather only sell houses that people WANT to sell! (There. I said it. Now enough of this media-fed negativity!)
I sincerely hope that 2009 is your "best year ever". I look forward to helping you make it so!
Do you have clients that have identified a home to purchase but have not sold their current property? The SunTrust Bridge Loan could be their answer. This product provides an avenue to pay-off the current mortgage and access the equity in the current home with a new low interest only Bridge Loan. The most valuable advantage allows your client to wait for strong offer on the sale of their current home; because they will not have an out-of-pocket payment on the Bridge Loan for at least six months.
The popularity of this product has re-surfaced in recent weeks as more buyers identify a property they don't want to risk losing waiting another price reduction.
Market Update:
Markets continued their peak and valley routine of recent weeks, but there is enough ‘Good News' out there for each of us to find something to provide encouragement.
Oil is at its lowest since March 21, 2007 and down 60% since July!!! Remember oil prices effect more than just the price at the pump. The drop in oil is a positive move for new home construction; since many new construction materials are petroleum based. Once our clients become confident that this may not be a passing thing, they will become more willing to look to the future.
Mortgage interest rates are recovering and have returned to the lowering ‘trend' that we discussed prior to the turmoil of recent weeks. Current rates are .375% lower than last week, .50% lower than 60-days ago, .25% lower than 30-days ago and .375% lower than October 7, 2007!! This has to be encouraging news for everyone. We need to remember that investors tend to take a cautious position over holidays; therefore we should expect some of this as we move closer to the end of the month with Veteran's Day followed by Thanksgiving two weeks later.
Let's "Go get ‘em"!!
Interest Rates:
On Friday November 7th your client with 740 credit score putting 20% down could secure a 30-day rate of 5.875% with 1.0 point on a 30-Year Fixed (APR: 6.007%).
Your FHA client's rate is not affected by credit scores. On Friday November 7th your FHA client could secure a 30-Year Fixed rate of 6.000% with 1.0 point (APR: 6.664%). Remember the APR on FHA includes the MI.
Your SunTrust Partners' can be found at:
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SunTrust Mortgage Charlottesville, VA - Mortgage Company |
Charlottesville Real Estate is great, but there are a lot of places that make Charlottesville a grand place!
We have the University of Virginia!
It is fabulous "grounds" with all it's beauty and history! There is so much activity there, it is very exciting!
Then there is the Downtown walking mall with shops and nice places to eat.
This is a must see if you like the small town feel!
A great place to stop at is the Mud House, a coffee shop on the downtown mall!
There are a lot of events this time of year and with Fall here the colors are fantastic!
Then there is the home of our Third President, Thomas Jefferson's Monticello!
Now this is an interesting stop if you have time when visiting Charlottesville!
Charlottesville is a great place to tour!
While you are out you might even see some Charlottesville Real Estate!
So the numbers for DOM (Days on the Market) are telling a story:
Albemarle County (where Charlottesville is located):
2002 - 76
2003 - 72
2004 - 79
2005 - 55
2006 - 59
2007 - 92
2008 - 109 (YTD)
This is staggering. The DOM is now greater than five years ago.
Remember as a Buyer..... Information is power!
About The Author
Charles McDonald, Associate Broker at RE/MAX Assured Properties and dedicated Buyers Agent is the author of this blog, and several other sites on the Internet. Charles and his team of experts in the Charlottesville area are always available to help you with your Real Estate needs. Call our team anytime at 434-981-1585 or to search for homes visit: Charlottesville Real Estate
Copyright © 2008 Charles McDonald, All Rights Reserved.
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The Durham Region & east metro Toronto are fantastic places to live. As the Broker of Record for Keller Williams Real Estate Associates, my 25+ years of experience is at your service! www.HeyRick.com
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