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Canada Real Estate Crisis www.Paulhatfield.ca

admin — Tue, 20 Dec 2011 23:00:22 +0000

What happened to Canada’s real estate crisis?
Canadian home sales outlook upgraded despite continued uncertainties.
There was no shortage of headline news in October about global financial market volatility and economic uncertainty. But it doesn’t appear to have dampened homebuyers’ spirits,” notes Gary Morse, president of the Canadian Real Estate Association (CREA). “Interest rates are at low levels and are likely to stay that way for some time to come, [and] homebuyers clearly see opportunities.”
CREA itself was one of those experts fooled. Earlier this month the organization was forced to boost its forecast for home sales activity, via its Multiple Listing Service, for both this year and next. CREA now expects that 453,300 homes will be sold this year, up from its earlier prediction of 446,915 units. That would bring the increase in home sales up from 0.9 per cent to 1.4 per cent.
Continued strength in residential real estate data
The Canadian housing industry seems to be performing well all around. Home sales edged up again in October to their highest level since January. In addition, the average price of homes sold in October (actual, not seasonally adjusted) came in at $362,899, a 5.5 per cent increase since the same month last year. While this was the smallest increase this year, the momentum is in the right direction, far better than in the United States where the housing market has yet to show convincing signs of bottoming out.
With continued strong resale activity and pricing, it should come as no surprise that homebuilders have also been active. According to the Canada Mortgage and Housing Corporation, housing starts came in at 207,600 units last month on a seasonally adjusted annualized basis. While that total is down slightly from the 208,800 units started in September, the number is unusually high. That’s true compared to other western economies where construction has been seeing hard times relative to historical averages and with regard to traditional demographic trends, such as immigration and new household formation, which create annual demand for about 175,000 new units, far below current construction levels.

Affordability remains strong
As CREA’s Morse noted, part of the reason for continued demand stems from housing affordability trends, which remain positive. Just how positive was confirmed by RBC Economics earlier this month when it released its quarterly “Housing Trends and Affordability Study,” which concludes that uncertainty overseas might actually have had somewhat of a positive effect in Canada.
“Developments related to the [European sovereign debt] crisis likely provided some benefits in the form of lower interest rates,” concludes Craig Wright, the financial group’s chief economist. “For instance, fixed mortgage rates [on a five-year, posted basis] eased to 5.3 per cent during the third quarter of 2011, from an average of 5.6 per cent in the second quarter.”
In addition, the Canadian economy continues to perform well relative to other western economies. Despite a drop last month, job growth remains positive, inflation is under control and gross domestic product remains on an upwards trajectory.
Yet despite the Canadian residential real estate sector’s continued strength, homeowners and shoppers would do well to remain vigilant, says one expert. “The combination of Europe debt crisis and the U.S. Super Committee failure [to reach a budget cut deal] has spiked financial and economic uncertainty,” notes Sherry Cooper, chief economist at BMO Capital Markets. “All businesses and households are impacted by these developments, even in stable, prudent Canada.”
Those concerns were echoed in late November by the Organisation for Economic Co-operation and Development, or OECD, which significantly weakened its economic outlook for the country, due in part to slower household spending and moderating demand for Canadian exports. However, judging from continued strong home prices and sales, that message does not seem to be fully getting through.
For now, in Canada it seems like business as usual, with housing sector stakeholders asking themselves, “Crisis? What crisis?”
Peter Diekmeyer is Bankrate.ca’s economics columnist.

Duration : 0:1:41

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Real People, Real Stories: Avoid Foreclosure Rescue Scams

admin — Sat, 22 Oct 2011 11:36:08 +0000

Scammers are targeting people having trouble paying their mortgages. These so-called foreclosure rescue companies promise to stop foreclosure. But theyre out to make a quick buck, and can turn a homeowners distress into disaster.

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Duration : 0:3:33

Technorati Tags: foreclosure, hope now, mortgages, rescue, scams

Advantage #6

admin — Fri, 16 Sep 2011 18:13:19 +0000

http://www.pprnoteco.com/freeworkshops Advantage #6 Volume — You can easily manage more loans than properties or rehabs. A loan servicer is much more cost efficient than a property manager ($25 set up, $15/mo. for a servicer, versus 8-10% for property management)

Duration : 0:3:35

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Karean Eissler – Investor

admin — Tue, 21 Jun 2011 23:03:38 +0000

http://www.pprnoteco.com/freeaudio ” PPR took a lot of time to explain things and to give a lot of context about what the nature of doing and investing in notes is, it’s such a different aspect of real estate……….. This was the first major investment that I made with the company, and they really took the time to explain what I was getting into and really made sure that I fully understood what they were doing, and it was really that kind of TLC that they put into it that’s most impressive. Don’t you wish the places we invest in stock would do that?”

Duration : 0:1:58

Advantage #3

admin — Sun, 05 Jun 2011 15:33:30 +0000

http://www.pprnoteco.com/freeworkshops Advantage #3 Control – Notes are more passive and easier to manage than hard real estate, especially with a servicer in place (Like property management for real estate, but for a note). There’s usually less responsibility and liability. It’s rare to deal with maintenance, tenants, contractors and vacancies. It’s a homeowner mentality versus a tenant’s.

Duration : 0:4:6

Advantage #4

admin — Fri, 03 Jun 2011 09:50:37 +0000

http://www.pprnoteco.com/freeworkshops Advantage #4 Profitable — Very high potential returns. Sometimes even infinite. Just like real estate you make your money when you buy. With institutional notes you make your money off the banks not the homeowners. It’s the opposite of the “We Buy Houses” business. Your best exit is usually through the borrower and not the property.

Duration : 0:14:16

DEVELOPERS IMPROVING SALES BY PROVIDING SELLER FINANCING AND CASHING OUT AT CLOSING

admin — Sun, 10 Apr 2011 14:22:20 +0000

http://www.IncomeBuyer.com Developers Getting Improved Sales by proviving seller or alternative financing and cashing out silmutaneusly at closing or soon after. Developers depending on Income Buyers to discount their seller or alternative financing to provide liquidity to continue to build and sell more housing units.

Duration : 0:2:8

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Bamboozled by the Banking Industry: Are the Chickens Coming Home to Roost?

admin — Sun, 24 Oct 2010 01:00:24 +0000

Despite stellar increases in their stock prices through 2009 and 2010, trillions of dollars of tax payer financed government assistance and ZiRP (zero interest rate policy), the failure of our politicians and regulatory authorities to force the banks to deal with their non-performing assets and mis-marked inventory simply set the world up for another 2008. Methinks the Chickens Are Coming Home to Roost!

Duration : 0:5:53

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Bush team, Congress negotiate $700B bailout NoteBuyingProfits.com

admin — Sat, 09 Oct 2010 19:53:27 +0000

http://www.NoteBuyingProfits.com No-nonsense How-to-Buy-NonPerforming Notes Information. Up-to-date! Hours of FREE Non-Performing Notes Videos, Free 1-on-1 Coaching Session! Click or Call 718-783-7605

Duration : 0:5:42

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Non Performing Notes The Art of Bidding

admin — Tue, 05 Oct 2010 04:15:35 +0000

http://www.notebuyingprofits.com/blog
I wanted to share with you a specific example of someone buying notes. They were approaching the bid process as a Science, but missing the part about the Art of it.
You see, if relationships didn’t

Duration : 0:2:55

Technorati Tags: buy, defaulted, how, mortages, mortgages, non, notes, performing