For the first quarter ending March 31, 2010 the upswing in real estate sales was approximately 16%. Like many areas, Montreal is starting to see a turn colse to after being affected by the nearly worldwide poor economic trend. In the Montreal Metro area alone the growth in the first quarter was about 46% compared to last year's figures. Particular house home sales were up colse to 8% in comparison to the first quarter of 2008 which was before the recession. The price of the Particular house home is on the rise as well.
Montreal real estate is by all means; of course on the mend. Baby boomers continue to retire at a fast rate and want to sell their larger homes and reinvest in a condo or cottage. On the other side of the coin, the younger generation is finding to invest in a home to rule down and raise a family.
If you are curious in buying or selling a home you should seek out a Montreal real estate agent. These agents will help you to find exactly the home you are finding for or find you prospective buyers for your home. In the process they can assuredly save you time and money and make sure that you are not taken benefit of. The Greater Montreal Real Estate Board can give you an comprehensive list of reputable real estate agency's if you are not sure where to turn. If you are just curious in viewing homes for sale and doing a personal price comparison before buying or selling, you will find many perfect homes listed in the Mls sites, or manifold Listing Services.
Montreal real estate agent's keep up on the current trends in home sales and will help you in your buying or selling venture. Due to the up-to-date stepping back many rules have changed in regard to mortgages and bank financing and these professional's are kept abreast of any and all changes affecting your sale or purchase.
In April of 2010 the Canadian government made some changes to its policies for government backed mortgages only. Some of these changes are considered a boon for the investor, while others are not getting the accolades of the real estate agent. One of these changes affects the variable rate mortgage. Because these types of mortgages can increase, the government is now requiring a home buyer to not only prove they can afford a mortgage cost at the present low rate, but also at the time to come higher rate if that is where the shop trend goes. The government says they are doing the buyer a favor by preparation them for a potential higher payment. Based on this ruling it is now more difficult for a home buyer to qualify for a government backed mortgage but fortunately not a lot more difficult. Montreal real estate agent's are aware that most lenders already use a similar rating ratio and this is a good convert for the buyer.
The negative part of the governments' new ruling is that you can no longer refinance your home up to 95% of its value but only 90%. Borrowers will no longer be able to pay off as many high interest loans using their homes equity because this amount has been reduced by 5%. Still, it also prevents people from using their home equity to yield supplementary debt.
Montreal Real Estate Experiences growth