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Jan Stavert ASP™
Sales Representative
Professional Home
Stager
Re/max Spirit Inc
Brokerage
Serving Durham
with Offices in
Oshawa, The Village
of Brooklin (Whitby)
and Bowmanville.
Ph: 1-888-732-1600
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There are currently no Open Houses.
My Awards and Designations
Presidents Gold
Top 4% (2001) by Unit and Value of Listings Sold Top Producer (top 10%)
QSC® Quality Service Certificate ASP™ Accredited (Home) Staging Professional
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Welcome to my Durham Real Estate Website
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How to get into the Housing Market
For many Canadians, it's not an easy task to enter the real estate market, especially for the first time. The good news is that with my expert advice as your local Remax professional and some creative strategies, it can be done.
Here are some home buying strategies that will help you get into the market quickly, so you can start building equity that much sooner:
. Consider starting with a condominium - It's a great first step on the property ladder, where you can build some equity instead of paying rent, and condominiums have historically appreciated well in value.
. Scale back your expectations -- Many first time buyers expect to move into their ideal home right away. Be realistic and start small. It will give you a chance to learn the 'in & outs' of homeownership and provide experience managing your expenses without getting too stressed out!
. Take in a renter - Why not have someone else help you to pay down that mortgage? Having a reliable renter to contribute to expenses can pay off your mortgage years sooner and save you thousands of dollars.
. Share a multi-unit dwelling - Perhaps you know another family member or friend who is also looking to enter the housing market. Why not pool your resources and buy a multi-unit dwelling such as a duplex or triplex, or a home with an in-law apartment or 'granny flat'? As long as you set out all the conditions in writing beforehand, it's a very appealing and workable option for many Canadians.
Whether you're thinking long-term or just starting out small on your way to bigger and better things, I can help. I've got many helpful tips to help you get into the housing market, successfully. Never thought about homeownership before? Perhaps it's time you did! Why not call me and get the benefit of my expert advice? You'll be glad you called me first!
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Selected Canadian Mortgage Rates
(Posted 5-year fixed rates as of March 29, 2007):
BMO: 6.49%
Canada Trust: 6.48%
CIBC: 6.49%
ING Direct: 5.09%
Manulife Bank: 5.25%
President's Choice Financial: 5.10%
Royal Bank: 6.44%
Scotiabank: 6.50%
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The high cost of waiting
House prices have been increasing steadily for some years now and there's no end in sight. In fact, the Canadian Real Estate Association recently predicted that the national average home price will increase from $276,974 in 2006 to $310,400 by 2008. If your goal is to buy a home that's around that average price, it's probably not in your best interest to wait before entering the market.
Think about it. You'd have to save an additional $33,426 in two years just to stay even with where you are right now! On the other hand, if you managed to get into the market and buy that same home today, then two years from now that potential gain of $33,426 in equity could be going into your pocket. If you add the increase in home prices, plus the equity you could lose, it all adds up to a very high cost for waiting... there's a potential difference of almost $67,000, depending on whether or not you act now.
So, if you've been thinking of putting off entering the housing market until prices level off or you're in a better position to buy, you'd better think twice! Of course, this is just one example, based on the national average. Home values can vary dramatically from market to market and even between neighbourhoods. If you'd like to know more about local property values and how much you could earn by acting now versus later, I hope you'll give me a call. There's absolutely no obligation to you. I'm happy to talk real estate anytime, so I hope you'll call soon.
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