Monthly Archives: July 2014

The Canadian housing market continues to grow

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Record low interest rates have have forced Toronto-Dominion Bank to boost its forecast for the Canadian housing sector.

Economist Diana Petramala said in an economic report that TD’s forecast in January was banking on an increase in interest rates that has not materialized.

“Interest rates, unexpectedly, reversed course beginning in March. Five-year mortgage rates currently sit at their lowest record on level,” Ms. Petramala wrote, noting that existing home sales in May were well above their 10-year average.

More strength may be bubbling under the surface

The demand for housing pushed May average resale price growth to 7.1% on a year over year basis which is well above income growth. The home price-to-income ratio is at a new high.

Now the economist is suggesting the housing market may have some more strength in 2014 although the general view is the market will cool over the medium term.

“More strength may be bubbling under the surface,” said Ms. Petramala, noting reports of bidding wars may point to very strong demand for single family homes.

On the condo side, lower interest rates combined with prices has made affordability of condos “more favourable” than ever. “First-time homebuyers who were pushed out of the market due to the past tightening in mortgage insurance regulations ma

TD is forecasting that the “moderate” overpriced and overbuilt housing market will not be impacted until 2015 when interest rates start to rise. The bank is predicting condo prices will fall by 2% in 2015.

Single family home prices will also feel the pinch after rising by 8% this year, according to the forecast. In 2015, single family family home prices are expected to rise by 2%.

Ms. Petramala emphasized that housing will continue to be a regional story, even as it turns into a buyer’s market in 2015.

Victoria, Toronto and Victoria are “flagged” as markets more vulnerable to a cool down because of recent strength while Calgary and Edmonton are poised for continued expansion based on employment and populations.

Source: www.FinancialPost.com

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Planning your next move? Use these tips!

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Planning your next move for the summer months? Summer is the most popular time of the year to move, so you won’t be alone. If you can, move on a weekday in the middle of the month to avoid as much traffic as possible. Avoid the last weekend in July, because this weekend is very popular for traveling. In order to make the moving process as smooth as possible, follow these tips for unloading a truck in the summer months:

Avoid Heat and Traffic

Plan to arrive at your new home in either the early morning or late evening to avoid unloading in the heat. Pack an ice cooler with plenty of water, Gatorade, and fruit to keep you energized throughout the day and keep it in the cabin of your moving truck.

When parking your truck, try to find an area with lots of shade. However, remember that a moving truck has a high clearance and will most likely not fit in a garage or a car port. Look for a high tree that can provide shade for the truck, or park next to a building that can provide shade. Rethinking where you park when unloading a truck can go a long way in keeping you and your stuff cool.

Stay Protected

To keep cool during your move, make sure to wear light-colored, and loose-fitting clothing to keep your skin protected. Most newer fabrics have “breathable” technology built in to help keep you cool, which can be very helpful in the long-run. Wear at least SPF 30 sunscreen, and reapply it throughout the day as needed. For more tips on staying cool during your move, read here.

Kids and Pets

Moving day is a big day for every member of the family, so make sure your kids and pets (especially dogs and cats) are occupied while you do the dirty work. Your children will need a safe and cool place to play and stay out of the way of . If you can, arrange for a sitter to watch them while you are unloading a truck. If you have pets – especially dogs and cats – arrange for them to be supervised as well.

Things to Keep Out of Moving Truck

Temperatures inside of a moving truck can also get very warm, so be sure to keep perishables and items that can melt out of the heat by packing them separately and getting them inside immediately. For example, candles in a truck driving in the summer will melt all over your other stuff, so carry them with you instead in a box with dividers. Leather upholstered furniture will “sweat” if wrapped in plastic, wrap it in a pad instead. CD’s, videos and cassette tapes can warp in a hot truck.

Hire Moving Help

Most importantly, make your move go by faster by hiring help.  Research movers in the area to fit your needs best. You can hire even just a couple of workers for an hour or two depending on the size of your moving truck! This decreases the amount of time spent outside, and lets you get a head-start on unpacking!