June 1, 2009
Record low interest rates are driving the real estate market to a place where people can qualify for as much as four times their gross annual income in mortgage amounts.
Added to the low-interest rates, the market is experiencing as much as 60% fewer listings than last year. As such, the people who have their homes listed are getting lots of attention and top dollars for their properties.
One real-estate professional tells BuzzBuzzHome that she is swamped with people looking for houses in downtown Toronto in the under $500,000 market.
Thinking of selling your house? Now may be the time?
Thinking of buying? Make sure you research the neighbourhood thoroughly, and check out what is going on in the pre-construction market as there are a lot of incentives out there.
Check out this clip from CTV News: http://watch.ctv.ca/news/clip177030#clip177030