Szabolcs Pall

Did you know ... one of the emerging trends in Europe, is to offer your house in a raffle giveaway? There are a lot of web-sites dedicated to property raffles, and it's a creative approach to a situation, where your property has become stagnant in a difficult market. Although usually done in Europe, and with multi-million dollar properties, for the rest of us, the best way to sell our home is still to price the house correctly according to today's market, and not yesterday's...

Happy New Year everyone, and what a year it's going to be! Most people would agree that it was a trying past 12 months, so with it behind us, let's remember all the positive things in our lives and focus on the upcoming year and all the joy it will bring.

Consumer Confidence: Driven down recently by concerns about people's personal financial circumstance and their jobs. This should gradually improve as the stimulus package promised by Prime Minister Stephen Harper in the January 27th budget is unveiled. As a side note, according to the news release on the Conference Board of Canada web-site, consumers have indicated for the second month in a row, that now was a good time to purchase a big ticket item. That can only mean real estate. :-)

Stock Market: Mugged and beat up, left bleeding in one of Bay street's cold and dark alleys. History is on our side here, things are going to rebound as they have after each and every other "crash" in the last 50 years. If the stock market was treated as a Plasma/LCD 50% Off Clearance, we would all be flocking to purchase them. For some reason though, we are instead taking money out of the market. Sales of big screen TV's though, are still going strong.

Gas Prices: When oil was 155 USD per barrel, we were paying about 1.38 CDN. Now that oil is at 35 USD, we're only paying .65 CDN, so I'm predicting a further decline in gasoline prices. Hopefully hybrid car prices will also fall.

Some of these predictions will come to fruition, while other may not (I'm not expecting to pay .31 CDN for gas any time soon). But thing will gradually improve, even for Madridistas, tomorrow will bring another day.

I sincerely wish each and everyone peace and prosperity in the new year. As always, I look forward to continuously improving, and providing you with the highest level of value and service in your next real estate transaction.

Happy 2009!!

What is it, and why should you pay attention to it? It's an indicator of confidence in the current economy, driven down recently by concerns about people's personal financial circumstance and their jobs. According to the most recent report, it has fallen by 3.3 points, the third straight decline, and is now at it's lowest level in 26 years at 67.7. This should improve next month as the stimulus package promised by Prime Minister Stephen Harper in the January 27th budget is unveiled.

It's not all doom and gloom though, as according to the news release on the Conference Board of Canada web-site, consumers have indicated for the second month in a row, that now was a good time to purchase a big ticket item. That can only mean real estate. :-) So give me a call, let's talk about your needs.

Are You Ready 2 Move?

Interesting news filtering in this morning, that CMHC had been warned about the burden it was placing on borrowers of home loans with minimal downpayment and long term amortization, and it's potential effect on the current economic crunch. In February 2006, U.S. based insurance companies were allowed to insure mortgages in Canada, and this competition for market share saw the introduction of mortgage products beyond the traditional 25 year Amortizaton, and 25% Downpayment. CMHC said the introduction of the new mortgage products "reflected the market trends for the period". Interesting indeed.

Are you ready 2 move? Send an email to szabolcs.pall@century21.ca

Finance Minister Jim Flaherty has recently said, that panicking in the face of this global economic crisis could prove tragic for Canada's own economy. I think it should also be stated, that some of the frightning headlines we are seeing in the news today, have been kicking around for about a year now. And even longer in the U.S and the U.K. So while the financial bailout of the U.S. automakers has recently collapsed (and GM considers bankruptcy), according to Mr. Flaherty "Canada is better positioned to cope with the global economic crisis than other countries, including the U.S." Things are getting better, without a doubt, it just takes a little time. I just wish that sort of positive thinking would turn to fruition and filter down to the mainstream media, and fast!

Ready 2 Move?