Real Estate Market

Welcome to the January issue of Team Sachko's Durham Real Estate News.

The resale housing market in Durham Region cooled in December with 517 sales which was 254 fewer sales than in November. This kind of market activity is very typical for this time of year. Overall 2011 has been a strong year with a total of 9,807 sales in the region.

In December, 548 new listings were added to the inventory of available re-sale homes bringing the total to 1,592 active listings, down 16% from November and 23% from the 6 month average.

Average prices in the Region have also remained robust this year. Sellers have seen a moderate increase in the equity of their homes, while home buyers are still getting excellent value for their dollar. The average selling price for December was $315,793 bringing the year to date average up to $317,232.

The Durham Association of Realtors believe that one of the keys to maintaining a high quality of life in Durham Region is a strong economy and we are encouraged by the level of economic activity that is occurring around the Region. Consumers recognize that Durham has a lot to offer and we expect to see sales figures and average selling prices to continue to experience modest growth in 2012.

We trust you will find Durham Real Estate News informative and valuable. Thank you for reading - Team Sachko

Scotiabank Monthly Update with Al Smith

The only thing "Special" about the 5 year deal being offered by some of the banks......is the FINE PRINT!  We have been asked many times over the past week if we are matching the 5 Year rate special being offered at some of the banks for a limited time only.....the short answer is NO.....and here is WHY....  

The "special" deal comes as a stripped down inflexible mortgage product, kind of like buying a Lada in the day.  Sure....2.99% sounds like a great rate....and that will attract (and has attracted) a lot of attention......but when you look beyond the rate, what you are getting is in fact a "closed mortgage" with limited pre-payment (10/10 vs. our 20/20), a maximum 25 year amortization, and most importantly the only way out of this mortgage is with a sale of the property....so you are stuck with the lender until maturity.  This may not sound too bad....BUT...most clients in a 5 year term transact on their mortgage at 32 months....and with these offers they cannot switch out or prepay prior to maturity ... only upon sales and they can only refinance with the incumbent lender (again...a restriction)  so there is a significant built in penalty here for most customers.

SO....Here is what We can do......          

We can offer             … 3 year term at 2.89%
                                    … 4 year term at 2.99%
                                    … 5 year term at 3.29%......  

and each of these mortgages come with all of our regular features....20/20 prepayment privileges....match a payment, and the flexibility for your clients to manage their debt without restrictions!!

Of course we also can still do ZERO down mortgages as well......  so don't let the lack of a down payment prevent you from buying a home!!

 *Prime Rate = 3.00% (effective Sept. 9, 2010.)          

Al Smith

Mortgage Manager

905-409-1973

alan.smith@scotiabank.com

Two Men And A Truck 

Planning Ahead to Make Pets Comfortable During Your Move

Just like people, pets get stressed during a move. But a little extra care and consideration will help the process run smooth and make them feel comfortable in your new home. 
 
According to the National Council on Pet Population Study and Policy, moving is one of the most common reasons a pet is given to an animal shelter and the No. 1 reason why a dog is given away. The lack of knowledge about pet care and relocation often leads to people not taking their pet with them.
 
Here are a few tips to make the move easier for you and your pet:

• Remember to update your pet’s tags and information with your new address and contact information as soon as possible.
• Contain all pets when the movers are present and while traveling to prevent injuries or run-away pets.
• Visit your veterinarian before the move to get a physical and a copy of your pet’s medical history.

Cats:

• Before and after the move, surround your cat with familiar objects ― feeding and water bowls, toys, blanket or bed.
• Since cats are very sensitive to their environment, gradually introduce them to their surroundings by restricting them to one or two rooms at first.

Dogs:

• Like cats, dogs should be slowly introduced to their surroundings. Then dogs should be leashed outside until comfortable with the area.
• If you are unable to stay home the first few days consider arranging a friend or pet sitter to come over for a couple of hours a day to ease your dog’s anxiety.

Fish:

• Traveling is the most difficult part of the moving process for fish. Place fish in bags with a mix of new water and clean water from their aquarium, the less the fish are crowded the better. Put rubber bands around the tops of bags and place the bags inside a dark, insulated cooler.
• Let the filter run for a few hours before putting the fish back into their tank, try to limit their time away from their normal habitat to less than 48 hours.

Birds:

• Make sure you have appropriate size carriers for the birds and cover the bottom with a litter. Remember to secure the doors of the carriers with a clip from the outside. Keep the birds cool and protected from the sun.
• Bring a supply of old food and water, gradually switch from old to new supplies.

Rodents:

• Small pets such as gerbils, guinea pigs and hamsters are more sensitive to drastic temperature changes. Take care to keep them out of cold drafts or direct sunlight.
• These animals can travel in the cage they normally live in just make sure it is well sealed so they cannot escape.