Oakville, ON

This is a snapshot of all of the residential real estate activity that has taken place in Oakville today. For more details regarding addresses and prices please contact me TODAY at 905.399.1069 and I would be happy to help.

There were 23 NEW LISTINGS in Oakville today on the following streets:

Nelson Street - 3 Storey Live/Work FOR SALE
Ennisclare Drive - 5 Bedroom 2 Storey Detached FOR SALE
Towne Boulevard - 4 Bedroom 2 Storey Detached FOR SALE
Prince Michael Drive - 4 Bedroom 2 Storey Detached FOR SALE
Scotscraig Crescent - 3 Bedroom 2 Storey Detached FOR SALE
Falgarwood Drive - 3 Bedroom 2 Storey Townhouse FOR SALE
Lakeshore Road West - 4 Bedroom 2 Storey Detached FOR SALE
Fourth Line - 4 Bedroom Bungalow Detached FOR SALE
Baronwood Drive - 3 Bedroom 2 Storey Townhouse FOR SALE
Dewridge Avenue - 3 Bedroom 3 Storey Townhouse FOR RENT
Rebecca Street - 2 Bedroom Bungalow Detached FOR SALE
Pinecliff Road - 3 Bedroom 2 Storey Semi - Detached FOR RENT
Crestmont Drive - 4 Bedroom 2 Storey Detached FOR SALE
Cudmore Road - 4 Bedroom 2 Storey Detached FOR SALE
Sixth Line - 3 Bedroom 3 Storey Townhouse FOR SALE
Warminster Drive - 2 Bedroom Bungalow Detached FOR SALE
Waterstone Court - 4 Bedroom 2 Storey Detached FOR SALE
Fairmount Drive - 3 Bedroom 3 Storey Townhouse FOR SALE
Adirondak Trail - 5 Bedroom 2 Storey Detached FOR SALE
Weighton Drive - 3 Bedroom 2 Storey Detached FOR SALE
North Ridge Trail - 4 Bedroom 2 Storey Detached FOR SALE
Glen Valley Road - 3 Bedroom 2 Storey Detached FOR SALE

There were 4 Price Reductions Today - Call me to find out where the prices are being reduced!

There were 11 Conditional Sales Today

16 properties SOLD FIRM today! 6 of those properties SOLD AT OR ABOVE the asking price!!!

If you have any questions regarding your real estate needs please do not hesitate to contact me today!

Barry Quine - Sales Representative
Century 21 Miller Real Estate Ltd. - Brokerage

web: www.Century21.ca/Barry.Quine or www.BarryQuine.com
email: Barry.Quine@Century21.ca
blog: www.OakvilleRealEstateToday.com
phone: 905.845.9180
cell: 905.399.1069

I read a great article in the National Post last week on the impact of the New Harmonized Sales Tax (HST) will have on the housing market when introduced in July 2009. I have included the link to the article for your reference - National Post Article on the HST

In order to put the HST issue into perspective, I have outlined the key issues about the HST and how this impacts Homebuyers in Oakville, Burlington and Milton.

• New homes currently face the GST which is 5% and in most cases for new construction, it is included within the purchase price
• The Government originally proposed on July 1, 2010 that the new HST would be 13% on all real estate transactions which came under heavy criticism and the government has softened their stance
• The new HST guidelines for real estate is an exemption on the first $ 400,000 which means most Oakville, Burlington and Milton new construction homebuyers will be impacted with some added cost starting in 2010

The National Post did a very nice job of laying out what this means for the average consumer:

"On a $500,000 home in Toronto, the HST will mean $6,000 in new taxes. Here's how it works. The HST means an additional $40,000 in new taxes on that home, based on 8%. Builders get an estimated 2% tax credit on supplies, lowering the bill to $30,000. Minus a $24,000 tax break on the first $400,000 and you get to $6,000."
If you are thinking of buying a new home in the next year, my recommendation is to move in advance of this new tax as no one likes to pay out more money than you have to.

For more information on buying or selling your home, please do not hesitate to contact me at 905-693-9575 or brian@RightRealtor.ca

Brian Bell, MBA
Sales Representative
Email: brian@RightRealtor.ca
Phone: 905-693-9575
Toll Free: 1-877-487-5833

Yes, there is only 1 Saturday left after today before fall or autumn officially arrives on September 22, 2009. Where did the summer go? Here in Oakville, it seems summer just began at the end of August. We have had an amazing first two weeks in September. Sunny and dry. Yes dry, when baseball and soccer season here in Oakville has finished or is winding down.

It was one of those seasons when even the rained out games got rained out. Labour Day weekend has come and gone. Cottage country has gone quiet. Here is a glimpse of how cottage country survives after the crowds have gone home. Vacations are over and the kids are back in school.

But life goes on in cottage country. There is a quiet beauty.

Even the ducklings are sporting their new Mohawk hairdos for school

Off Duty

Peek-a-boo, I see you

Red-dy and waiting

Beachy Keen

Boatless Bay

Georgian Bay Sunset

Bonfire by moonlight

The best way to end a day in cottage country is the traditional bonfire with marshmallows. Moonlight and good conversation are the icing on the cake.

Goodbye summer. See you next year.

If you were considering selling your condo townhouse, it is important to take a look at what the market has done over the past month. In general, the Oakville housing market is classified as a " Balanced Market" whereby supply and demand are in sync or equilibrium. Over the month of August, there was a total of 331 condominium townhouses sold which shows strong sales.

We have included a table below to highlight some of the key trends that you should be aware of and we have broken it down by price range to give you a sense of what is happening at the differing price points:

For the Oakville condo townhouse market, the yellow highlighted portion shows where the most activity is taking place which is currently fueled by first time home buyers. The market is performing as expected with higher priced homes taking longer to sell and at lower sales to list ratios.

What is encouraging if you are thinking of selling your Oakville condo townhome within the $ 250 k to $ 400 k price range is that they are selling at approximately 97% of list price and are sold in less than 40 days.

Now is the Right time to consider moving from your condo townhouse given the low interest rates and strong first time buyer demand.

For more information on what your condo townhouse is worth, please contact me at 905-693-9575 or brian@RightRealtor.ca or click on Home Assessment Report

Brian Bell - MBA

Email: brian@RightRealtor.ca
Phone: 905-693-9575
Toll Free: 1-877-487-5833
Fax: 905-693-0312

Oakville First Time Home Buyers Benefit from Lower Interest Rates

The big Canadian banks have provided some additional relief for first time buyers by lowering interest rates. This is great news for first time home buyers since it has become even more affordable thanks to the reduction in interest rates. Here is what the Banks have done:

At the Royal, a one-year closed mortgage falls to 3.7 per cent, down a fifth of a point, while a five-year closed term drops three tenths of a point to 5.49 per cent. At Bank of Montreal, a three-year fixed closed mortgage falls a fifth of a point to 4.35 per cent while a five-year loan also falls to 5.49 per cent, down .36 of a point. The changes reflect lower interest rates in the bond market, where banks raise money to finance their mortgage lending.

To put this in perspective, on a $ 250,000 mortgage, a reduction in the rate of 0.36 % equates to a saving of over $ 60 per month and $ 700 per year. At the end of the day, this leads to more money in your pocket which makes this a great time to buy for Oakville first time home buyers.

Talk to a mortgage broker to see how you can benefit from these lower interest rates. Visit www.RightRealtor.ca today to see our mortgage broker partners.

Brian Bell - MBA

Realty Executives Plus Ltd., Brokerge

905-693-9575

brian@RightRealtor.ca