Real Estate

Many seek new homes near cities but are priced out

WASHINGTON — City living has been a blessing for Tim Nelson. The Phoenix lawyer moved downtown a few months ago into a new $389,000 home with a warehouse-style floor plan, a Jacuzzi tub and kitchen counters made of Caesarstone quartz. His favorite coffee spot is three blocks away. When the Arizona Diamondbacks play on Friday …

Clark can be the next ‘Fort Bonifacio for BPOs’

MANILA — As more property developers and investors target areas outside Manila, a property consultant said Clark can be the country’s next business process outsourcing (BPO) hub. CBRE Philippines chairman and chief executive Rick Santos said Clark is drawing more BPO firms because of the “young, intelligent, and multilingual” labor pool in Central Luzon. When …

Home affordability becoming more of a stretch, and like to get worse, says RBC

OTTAWA — It’s becoming increasingly difficult for families to own a home in Canada and affordability is only expected to get worse going forward, according to the Royal Bank of Canada (TSX:RY). With house prices continuing to rise, RBC said its affordability index deteriorated in the first quarter of this year– the third quarter that …

Investor’s Group mortgage deal comes with strings attached

If you’ve been shopping around for a mortgage, you’ve probably heard about Investor’s Group’s offering of a variable-rate mortgage for 1.99% for a three-year term. This seems amazingly good. But is it too good to be true? Here’s the lowdown on those down-low mortgage rates. It’s important to understand the mortgage lending business is intensely competitive, because for …

April home sales up from March, but down from year ago, CREA says

OTTAWA—Canadian home sales were up 2.7 per cent from March to April, boosted by the Vancouver and Toronto markets, according to the Canadian Real Estate Association. However, sales through the Multiple Listings Service were down 0.3 per cent compared with a year ago and one per cent below the 10-year average. The association says the …

Contracts to buy US homes rose for 1st time in 9 months in March, pointing to higher sales

  WASHINGTON – More Americans signed contracts to buy homes in March, the first increase since June and a sign that the housing market may pick up after a sluggish start to the year. The National Association of Realtors says its seasonally adjusted pending home sales index rose 3.4 per cent to 97.4 last month. …

Real estate agents eagerly awaiting outcome of Quebec election

MONTREAL—The Quebec election has real-estate agents on both sides of the Quebec-Ontario border agreeing on one thing: the market is on hold as homebuyers await the outcome. Realtors say a Parti Quebecois majority on April 7 likely wouldn’t result in the kind of mass exodus that followed the party’s first election victory in 1976. Thousands …

Six tips to help you survive the mortgage market

     Wikipedia photo The spring real estate market is gathering momentum. And banks, finance companies, and lawyers are all gearing up to take their cut, mostly in the hyper-competitive mortgage market. You might well feel like a lamb among the wolves here. So here are a few things you should know about mortgages to avoid …

Posh ranch to go on sale for $37.8 million in Alberta’s cowboy country

MILLARVILLE, Alta.—If you’re a multi-millionaire with a dream of living in cowboy country, Sotheby’s auction house may have the perfect thing for you. The sprawling Kettle Lake Ranch near Millarville, Alta., is going up for sale with an asking price of $37.8 million. That pays for a posh three-bedroom, three-bathroom bungalow on the shores of …

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