Thinking about buying a house in Markham/Stouffville?  If you said "yes," then I suggest you get yourself a pre-approval NOW.  Interest rates have just dropped and are lower than they've ever been.  You can now get a 4 or 5 year fixed mortgage for 2.99% which is almost like free money! Many experts predict that rates will stay low throughout the next near and likely begin a slow climb next year.

In terms of house prices, we've all witnessed huge price increases over the last couple of years.  In Markham, the average price of a home increased by 6.7% in 2010 and by 5.6% in 2011.  What can we expect of future home prices in Markham?  Well, you should still expect home prices to rise, but likely by a smaller amount.  3-4% is what many experts are

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It's been quite a year for real estate in Markham thus far.  We've seen record breaking prices and an abundance of activity.  As of late, the market has showed signs of slowing down a bit and I can safely say we are approaching a more balanced environment.  The average days on market currently sits at around 22 days and will likely continue to rise as we approach the holiday season.  If you live in Markham then you know that it is a great place to live and that your investment is fairly safe.  No one can predict the future with 100% certainty but home prices are expected to continue to rise in 2012, only not as fast as we've seen over the past couple of years.

I've come across many buyers over the past year who were hesitant to buy their first home because they thought prices were going to drop.  Unfortunately, you can't believe everything you hear on the news.  Even though prices in Markham and Unionville may seem high, there are many willing buyers and prices sit well within overall affordability indicators.  On top of it, mortgage rates continue to stay at all time lows and are expected to remain low for the majority of 2012.

If you happen to be thinking about buying a home in Markham and you are either a first-time homebuyer or moving from another town, I would recommend the next few months as being an

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Are you trying to buy a home in a fast paced Seller's market and getting frustrated?  You're not alone.  Current inventory is flying off the shelf and just about every home that is fairly priced is selling in record time and often well above the list price.  As a Realtor, I would obviously always recommend using a professional to help you buy a home, but I can't stress how much more important that is in this market. 

Homes are selling so quickly that it is extremely important to have a solid strategy in place so that when the right home surfaces, you'll have the first opportunity to jump at it.  Just last week I found the perfect home for a buyer in Cornell Markham by pouncing on it before

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Buyers beware!  If you've ever considered building a new custom home in Unionville or Markham, or know someone who is, make sure you know the zoning and restrictions.  Current restrictions may soon change to limit the size of infill housing as the following article discusses.

A proposal to attack monster homes is about to be rolled out for input from residents of Unionville’s Varley Village.  Called a “good product” by local Councillor Don Hamilton, the new set of development standards will add provisions to the existing zoning to more tightly regulate infill housing in the area and see smaller homes built on same-size lots.
If passed by Markham council, it will be the first new infill bylaw the town introduces since the 1990s.

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Buttonville is about to be anointed Markham’s newest heritage conservation district and you’ll get to have your say on the plan next month.

A village with more than 200 years of history, the Buttonville heritage district boundary was approved by town council in 2006.

The area focus is on the original mill village and adjoining valleylands and includes 31 properties, of which 20 are heritage buildings and 14 of those are designated individually.
Buttonville will be Markham’s fourth and smallest heritage district, after Thornhill, Markham Village and Unionville.

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This article was originally posted in the Markham Economist and most definitely should make us more aware of who we choose to do business with.  Not just in the mortage industry but anyone.

York Regional Police have charged a man in connection to a mortgage fraud investigation in Markham.  In January, a man, posing as a mortgage broker for Dominion Lending Centres, was introduced to a senior, police said.

The senior wanted to secure a mortgage for her home and paid the man an up-front fee of $1,600, however no mortgage was obtained, police said.  Last Wednesday, police arrested a 59-year-old man and charged him with fraud under $5,000.

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For residents of Markham Ontario, particularly in the neighbourhoods of Greensborough and Wismer Commons, you'll find the following article from the Economist to be quite interesting.  The entire corridor on Main St. between 16th avenue & Major Mackenzie should be quite nice when it is all said and done.

The reconstruction of Main Street Markham is about to get real.  More than $500,000 is ready to be doled out after the town’s development services committee OK’d a contract for

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Canadian house prices will move in line with inflation for the next two years, Canada Mortgage and Housing Corp. said in its first quarter market outlook.

The report is the third from a major market forecaster in the last week. The Canadian Real Estate Association and Royal Bank of Canada also predicted small gains through 2011 and 2012.

“The existing home market will remain in the balanced to sellers’ market range in 2011 and 2012,” CMHC economist Bob Dugan said. “As a result, growth in the average [Multiple Listing Service] price is expected to remain in line with economy-wide inflation in 2011 and 2012.”

Meanwhile, housing starts will be in the range of 157,300 to 192,900 units in 2011, with a point forecast of 177,600 units. In 2012, housing starts will be in the range of 154,600 to 211,200 units, with a point forecast of 183,800 units.

“Modest economic growth will continue to push employment levels higher this year and next. This, in conjunction with relatively low mortgage rates, will continue to support demand for new homes,” he said.

Source: Globe and Mail

Despite a recent slow down in the market, we still remain on track for one of the best years on record.  Overall sales for the month of November are down about 13% in comparison to November of last year, but for the entire year, sales are about the same.  Prices remain strong and a recent report released by Central 1 Credit Union predicts that prices will increase by 5% over the next year with mortgage rates also increasing.

• Almost 15,000 homes have sold in York Region so far this year. The busiest districts are in Vaughan (N08), Markham (N11) and Richmond Hill (N03), accounting for about 45 per cent of all sales.
• If you are house shopping in Thornhill, prices are more reasonable on the Vaughan side (N02) with houses averaging $485,436, compared to an average $564,460 on the Markham side (N01).

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This article was originally posted on the YorkRegion.com and talks about the town of Markham promoting green projects such as community gardens.  It is great to see Markham taking a pro-active stance towards a more "green" environment.

A condominium garden that would illustrate how a community garden can be integrated into higher density developments is one of several environmental projects granted funding from the Town of Markham last week.

“There’s going to be more density in Markham, so it’s good that people have access to local foods. That’s what our growth decision has determined,” said Katie Burns, the town’s sustainability co-ordinator.

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