How long wil real estate remain a "SELLER'S MARKET"? Prices keep going up 5% to 8% each year !
Q. Shoule I buy a house now or is there a risk that Canada's market will follow America's ?? I'm living in Southern Ontario, Canada, and I heard on the financial market that we will not be suffering the fate of the Americans because our housing market is different in nature. The Canadian Real Estate Association just stated that because of strong job creating and a healthy immigration level, Canadians can continue to enjoy price gains of between 7% and 10% for many more decades to come! If a $300,000 home appreciates at 10% per year for 20 years, it will be a massive $2 million dollar mansion !! I have $60,000 that I could use as a 20% deposit but I'm paying only $1,000 per month to rent a 3 bedroom house and the proprty taxes alone on… [cont.]
Asked by honesty_counts - Sat Apr 5 17:30:21 2008 - - 3 Answers - 1 Comments
A. "this is not a bubble but an upward adjustment" Is what I kept hearing before I bought my house in California. Since then my house has lost 15% of its value and it was in a desirable area. What you hear is going to be tainted by laziness (not doing their research of the causes of an effect) and greed (trying to con you into it). Wait a little bit, the world banking system is on the brink of collapse "downward adjustment" ;-)
Answered by Laurent - Sat Apr 5 17:55:39 2008
Q. Shoule I buy a house now or is there a risk that Canada's market will follow America's ?? I'm living in Southern Ontario, Canada, and I heard on the financial market that we will not be suffering the fate of the Americans because our housing market is different in nature. The Canadian Real Estate Association just stated that because of strong job creating and a healthy immigration level, Canadians can continue to enjoy price gains of between 7% and 10% for many more decades to come! If a $300,000 home appreciates at 10% per year for 20 years, it will be a massive $2 million dollar mansion !! I have $60,000 that I could use as a 20% deposit but I'm paying only $1,000 per month to rent a 3 bedroom house and the proprty taxes alone on… [cont.]
Asked by honesty_counts - Sat Apr 5 17:30:21 2008 - - 3 Answers - 1 Comments
A. "this is not a bubble but an upward adjustment" Is what I kept hearing before I bought my house in California. Since then my house has lost 15% of its value and it was in a desirable area. What you hear is going to be tainted by laziness (not doing their research of the causes of an effect) and greed (trying to con you into it). Wait a little bit, the world banking system is on the brink of collapse "downward adjustment" ;-)
Answered by Laurent - Sat Apr 5 17:55:39 2008
Very tricky math problem?
Q. I've been on this question for awhile now, and any help would be much appreciated. Question: According to the Canadian Real Estate Association, the average selling price of Canadian homes rose from $67,000 in 1980 to $282,000 in 2006. What was the overall compound annual appreciation of home prices.
Asked by Taeyang - Thu Nov 6 21:36:45 2008 - - 2 Answers - 0 Comments
A. This is a compound interest type problem. Since the appreciation would be calculated on the previous year's value, the 'principal' for each year keeps on increasing Thus, if 'r' is the rate of appreciation for 1st yr appreciated value = 67000 (1 + r/100) for the second yr, this becomes the base on which the appreciation is calculated. Thus after 2nd yr, appreciated value = 67000 (1 + r/100)(1 + r/100) If you go on like this after 26 yrs (1980 to 2006) appreciated value = 67000 (1 + r/100)^26 which is 282000 Thus 282000=67000 (1 + r/100)^26 (1+r/100)^26 = 282000/67000 (1+r/100)^26=4.2089 1+r/100 = 1.057 r/100 = 0.057 r=5.7%
Answered by KB - Thu Nov 6 21:53:00 2008
Q. I've been on this question for awhile now, and any help would be much appreciated. Question: According to the Canadian Real Estate Association, the average selling price of Canadian homes rose from $67,000 in 1980 to $282,000 in 2006. What was the overall compound annual appreciation of home prices.
Asked by Taeyang - Thu Nov 6 21:36:45 2008 - - 2 Answers - 0 Comments
A. This is a compound interest type problem. Since the appreciation would be calculated on the previous year's value, the 'principal' for each year keeps on increasing Thus, if 'r' is the rate of appreciation for 1st yr appreciated value = 67000 (1 + r/100) for the second yr, this becomes the base on which the appreciation is calculated. Thus after 2nd yr, appreciated value = 67000 (1 + r/100)(1 + r/100) If you go on like this after 26 yrs (1980 to 2006) appreciated value = 67000 (1 + r/100)^26 which is 282000 Thus 282000=67000 (1 + r/100)^26 (1+r/100)^26 = 282000/67000 (1+r/100)^26=4.2089 1+r/100 = 1.057 r/100 = 0.057 r=5.7%
Answered by KB - Thu Nov 6 21:53:00 2008
Financial Math Help Anyone?
Q. According to the Canadian Real Estate Association, the average selling price of Canadian homes rose from $67000 in 1980 to $282000 in 2006. What was the overall compound annual appreciation of home prices?
Asked by aznxintegra - Wed Nov 5 12:17:17 2008 - - 1 Answers - 0 Comments
A. Do it with a financial calculator or in MS Excel PV=67000 FV=282000 N=26 i=? PMT=0
Answered by f*** Y!A - Wed Nov 5 12:26:07 2008
Q. According to the Canadian Real Estate Association, the average selling price of Canadian homes rose from $67000 in 1980 to $282000 in 2006. What was the overall compound annual appreciation of home prices?
Asked by aznxintegra - Wed Nov 5 12:17:17 2008 - - 1 Answers - 0 Comments
A. Do it with a financial calculator or in MS Excel PV=67000 FV=282000 N=26 i=? PMT=0
Answered by f*** Y!A - Wed Nov 5 12:26:07 2008
What are the legal steps in selling a house in BC?
Q. I am selling my house. Both myself and the buyer have signed a contract of purchase and sale (form used was the BC Real Estate Association and Canadian Bar Association BC Branch (BC2000rev. Sept/07)). As stated in the contract the deposit is being held in trust by the buyer's lawyer. (I am not using a lawyer but the buyer said his lawyer can act for both parties). As for subjects, the sale is subject to financing. However what I need to know is the steps involved between now and completion date? With removal of subjects and payment of deposit, do both happen at the same time? Do I get notified and by whom? Do all documents re completion hae to be signed on completion date or can this be beforehand? Does lawyer automatically pay… [cont.]
Asked by Fiona - Thu Jul 8 17:56:35 2010 - - 1 Answers - 0 Comments
Q. I am selling my house. Both myself and the buyer have signed a contract of purchase and sale (form used was the BC Real Estate Association and Canadian Bar Association BC Branch (BC2000rev. Sept/07)). As stated in the contract the deposit is being held in trust by the buyer's lawyer. (I am not using a lawyer but the buyer said his lawyer can act for both parties). As for subjects, the sale is subject to financing. However what I need to know is the steps involved between now and completion date? With removal of subjects and payment of deposit, do both happen at the same time? Do I get notified and by whom? Do all documents re completion hae to be signed on completion date or can this be beforehand? Does lawyer automatically pay… [cont.]
Asked by Fiona - Thu Jul 8 17:56:35 2010 - - 1 Answers - 0 Comments
What are the legal steps in selling a house in BC?
Q. I am selling my house. Both myself and the buyer have signed a contract of purchase and sale (form used was the BC Real Estate Association and Canadian Bar Association BC Branch (BC2000rev. Sept/07)). As agreed in the contract, the deposit is being held in trust by the buyer's lawyer. (I am not using a lawyer but the buyer said his lawyer can act for both parties). As for subjects, the sale is subject to financing. However what I need to know is the steps involved between now and completion date? With removal of subjects and payment of deposit, do both happen at the same time? Do I get notified and by whom? Do all documents re completion hae to be signed on completion date or can this be beforehand? Does lawyer automatically pay out… [cont.]
Asked by Fiona - Thu Jul 8 20:52:12 2010 - - 1 Answers - 0 Comments
Q. I am selling my house. Both myself and the buyer have signed a contract of purchase and sale (form used was the BC Real Estate Association and Canadian Bar Association BC Branch (BC2000rev. Sept/07)). As agreed in the contract, the deposit is being held in trust by the buyer's lawyer. (I am not using a lawyer but the buyer said his lawyer can act for both parties). As for subjects, the sale is subject to financing. However what I need to know is the steps involved between now and completion date? With removal of subjects and payment of deposit, do both happen at the same time? Do I get notified and by whom? Do all documents re completion hae to be signed on completion date or can this be beforehand? Does lawyer automatically pay out… [cont.]
Asked by Fiona - Thu Jul 8 20:52:12 2010 - - 1 Answers - 0 Comments
From Yahoo Answer Search: 'Canadian Real Estate Association'
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