FREE Home Staging Seminar!

Home Staging Seminar Tuesday night (March 1st) at the CFB Trenton MFRC behind Timmies. All welcome for the 7:00 PM start. A professional Stager will be there ... you don't want me to suggest paint colours and how to arrange your furniture :>)

JTF Move Still a Go!

According to a recent article in The Intelligencer, the JTF move to Trenton is still in the works ... although not as early as 2011 as originally anticipated. One more land deal to finalize and, hopefully, one step closer to making it a reality for 2012. Read the entire report here.

RENOVATED OFFICE OFFICIALLY OPEN!

Suzanne Andrews, Quinte West Chamber of Commerce, David Weir BA, CD Top Sales Rep for Royal LePage ProAlliance Realty, Mark Rashotte, owner of Royal LePage ProAlliance Realty, and Mayor John Williams are seen cutting the ribbon in celebration of the newly renovated second floor office space at 253 Dundas Street East in Quinte West.

The $125K renovation represents the first phase of the 25 year old building's revitalization. An additional $500K will be spent in the local economy when the second and third phases are completed over the next two years.

Rashotte, who is also owner of The Empire Theatre in Belleville, will also house one of his Dominion Lending Mortgage franchises in the Trenton office. This will allow for one-stop shopping as far as real estate and mortgage business is concerned. Royal LePage ProAlliance is the closest real estate office to CFB Trenton and captured more than 50% of the local real estate market in 2010.

Coming to Trenton? Reserve Early!

Going to be in Trenton the weekend of 7 - 8 May 2011? Book a room now because fishing takes over the area! http://www.kiwaniswalleyeworld.com/v2/

My Crystal Ball is Telling Me ....

In our profession, we are constantly asked "how's the real estate market doing"? At this time of the year, we are more likely to be asked for a prediction as to what's "going to happen this year".

From my perspective, it would appear that the first half of 2011 will be similar to the first half of 2010 ... steady sales and very modest price changes ... good things. In other words, the market is stable and predictable. The days of large price increases are behind us and, hopefully, dramatic price decreases are not awaiting us.

New home construction history is a good argument for this analysis. For example, Reed Construction Data Canada reported that housing starts in Canada averaged 222,000 units per year between 2002 and 2008. However we dipped dramatically to 112,000 units in 2009. Since early 2010, the national monthly [housing] start level has averaged slightly below 200,000 units on an annualized basis.

For those selling this year, we would suggest that by March or later your asking price should be 'on the money' as opposed to 'fishing for a higher price'. As you go forward into the spring more and more homes come on the market to compete for the limited amount of buyers. More importantly, the fear of increased mortgage rates (which has already started to happen) will encourage buyers to get into the market place earlier as opposed to later in the year. We love to talk pricing strategy.

For those buying this year, get a mortgage commitment letter from your lender as early as you can. Try to get the interest rate 'promise' for as long a period as possible. Keep in mind that you have to be in your new home before the commitment runs out. The rules for insured mortgages from Canadian lenders has become more restrictive and, as mentioned above, the interest rates are on their way up. No need to help the banks make 'record profits'. We can help you get better rates and terms on a new or renewed mortgage.

Finally, our team is off to a great start in 2011 and we hope to be your 'go to' real estate source this year. Our advice is free and is available in both official languages!

Plan Ahead!

Buyers should be locked in & sellers should be thinking price reduction. Check out the Globe and Mail's recent article on rising mortgage rates. Give me a call to discuss how we can help!

Interest Rates Going Up!

TD Bank just boosted their 5-year mortgage interest rate. Buyers get pre-approved before the rest of the banks follow suit!!

Everyone Wins!

Captain Ken Hannon of CFB Trenton and David Weir of Royal LePage ProAlliance Realty present a $500 cheque to Sue Rollins of the Canadian Cancer Society of Hastings Prince Edward. Ken was the winner of David's fall contest to sponsor a favourite charity. Over the past several years, Ken and his colleagues at the the Air Traffic Control Unit have raised over $60,000 to help fight cancer. Sue Rollins can be reached at 613.962.0686 if you would like to make a donation.

Did You Know?

... that the Canadian Association of Accredited Mortgage Professionals, which represents the mortgage brokerage industry, released a study late last year that showed mortgage debt in Canada surpassed $1 trillion for the first time in 2010. About 22 percent of all new mortgages had amortization rates longer than 25 years, up from 18 percent the year before.