Here's a market update for the first half of 2010...investing in Real Estate is still your best choice!
TORONTO, Ont. July 2010- The first half of 2010 has been a good one for investments in GTA's real-estate market.
Many properties have seen double-digit percentage gains after a stagnant performance in 2009.
A news report in the Toronto Star looked at 63 real estate districts in Toronto for the first half of the year and found prices went up by more than 10 per cent for 85 per cent of them.
The best performer, Lorne Park in Mississauga, was up 30 per cent at an average price of $880,000 for a single-detached home.
Markham ranked second, with sale prices up by 27.7 per cent, while Armour Heights/Bathurst Manor was third at 27.5 per cent.
Rounding out the top five were Hogg's Hollow and the Bridle Path at 26 per cent.
While first-time buyers were leading the way early in 2009, move-up buyers were driving prices substantially higher in the first six months of this year, taking advantage of record low interest rates.
Home value sometimes referred to as "Value in Use", is best described as the probable price at which a home trades in a free, competitive, and open market and is synonymous with the market value.
When should I sell my home? Your answer to this question might be right now! If you have taken a job in another city or made an offer on a new home, or had an addition to your family, selling your home fast might be the most important goal you have. Most people, however, have some flexibility when they sell their home. Let us take a closer look at the most important factors that can go into this decision.
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