Another 8bdrm student home on the books

It's getting harder to find good residential homes in Westdale to convert to student homes. But Q and the boys did it again! A month or so of reno's and we'll have another 8 bedroom to fill. Congrats guys.

Try as they might, the Government didn't slow down home buyers

The federal government's newly implemented conditions for mortgages reduced the maximum amortization period for government-insured mortgages to 30 from 35 years, and limited the amount people can borrow when refinancing their mortgages to 85 from 90 per cent of the value of their homes.

But rather than diminishing overall demand, the new rules are prompting many to compromise on their expectations.

"Many purchasers intent on realizing home ownership are scaling back on expectations or are willing to sacrifice location, quality and/or size to make their dream a reality, not unlike generations before them," said Michael Polzler, Re/Max's executive vice-president for Ontario and Atlantic Canada.

In fact, first time home buyers are boosting sales to record proportions across the country.The Vancouver region is particularly strong, with sales up about 12 per cent and prices rising 20 per cent.

Some of biggest sales gains are in the West including Saskatoon's 15 per cent gain and Winnipeg's growth of 11 per cent.

Some of the other areas where price growth is strong include Hamilton (eight per cent), Quebec City (seven per cent), Winnipeg (seven per cent), Toronto (five per cent) and Montreal (five per cent).

In our recent experience, a very large percentage of buyers in the market now are first timers. Gov't tactics are not going to dissuade them when the alternative is outrageous rent prices.

Robert J. Morrow, editor: http://www.hamiltonhomereview.com/

Oh What A Feeling!

Open House at 16 Farah Court today. Nice 4bdrm on Hamilton Mountain.
Then off to see CROWBAR at Leander. Oh What a Feeling!