Housing market

[raisethehammer]

haven't tried yet...I'll get around to it later in the weekend.
Thanks for the tips. I'm sure it'll work great based on your experience.

[SteelTown]

House prices on the decline

Ken Mann
11/4/2008

It's a buyer's market.

The latest figures from the Hamilton-Burlington Realtor's Association continue to show a dramatic shift in resale figures.

For starters, the average price decreased by 8.7% in October, when compared to the same time last year. It's the first time that has happened in several years.

The number of properties sold last month also plunged by more than 27%, to a total of 926. Year-to-date sales are down about 10%.

[realcity]

Originally Posted by SteelTown

House prices on the decline

Ken Mann
11/4/2008

It's a buyer's market.

The latest figures from the Hamilton-Burlington Realtor's Association continue to show a dramatic shift in resale figures.

For starters, the average price decreased by 8.7% in October, when compared to the same time last year. It's the first time that has happened in several years.

The number of properties sold last month also plunged by more than 27%, to a total of 926. Year-to-date sales are down about 10%.

You know you'll never hear anything like this coming from the Realtors Association. It's always like "everything is good"

[SteelTown]

Local housing sales drop 27 per cent
Average price falls 7.2 per cent

November 05, 2008
Meredith MacLeod
The Hamilton Spectator

It’s a good time to buy a home but maybe not such great news for sellers.

Total sales in Hamilton and Burlington dropped 27.3 per cent last month over the same month a year ago, according to figures released today by the Realtors Association of Hamilton-Burlington. The average price of freehold residential properties dropped 8.7 per cent to $268,805 and condominiums fell 7.2 per cent to $196,899.

At the same time, the total number of units (including residential properties, commercial properties, farmland and businesses) listed for sale in October was 1,849, which is 18.4 per cent more than were listed in October 2007.

[FairHamilton]

Originally Posted by SteelTown

Local housing sales drop 27 per cent
Average price falls 7.2 per cent

November 05, 2008
Meredith MacLeod
The Hamilton Spectator

It’s a good time to buy a home but maybe not such great news for sellers.

Total sales in Hamilton and Burlington dropped 27.3 per cent last month over the same month a year ago, according to figures released today by the Realtors Association of Hamilton-Burlington. The average price of freehold residential properties dropped 8.7 per cent to $268,805 and condominiums fell 7.2 per cent to $196,899.

At the same time, the total number of units (including residential properties, commercial properties, farmland and businesses) listed for sale in October was 1,849, which is 18.4 per cent more than were listed in October 2007.

Our region has better than the GTA's stats.

The number of resale home deals fell 35 per cent in the Greater Toronto Area last month compared with a year earlier, according to a tally by the Toronto Real Estate Board.

And the average price was down 10.6 per cent, to $352,974 from $394,646.

I think that shows our area was always healthier than the GTA's, and I would hazard a guess the lower city has held up better than other parts of Hamilton and Burlington.

[Berklon]

Keep dropping baby.

Berklon needs to buy a house.

[SteelTown]

I would be more interested in what's happening with resales stats compared to brand new homes.

[realcity]

Burn....

well i'll make an amendment. The Realtors' Association will either always say "it's a good time buy" or "it's a good time to sell".

They're one of the most self-serving industries that pretend to advocate for buyers and sellers. At least lawyers are honest about it.

[SteelTown]

We'll likely see an increase in GTAers settling in Hamilton with these bargain prices. Especially for new homes, they are throwing all these specials like free fireplace, marble countertop, hardwood floors. etc.

[realcity]

until they find no work in Hamilton and get tired of the commute back into the GTA

[adam]

way to promote your city

[highwater]

Originally Posted by realcity

until they find no work in Hamilton and get tired of the commute back into the GTA

...and start their own businesses in Hamilton, like some I know.

[realcity]

Originally Posted by highwater

...and start their own businesses in Hamilton, like some I know.

which is what i did too

but there's no ignoring the fact that a generation is leaving this city for other parts of the GTA and AB and BC. It's not that different from US rust-belts and CDN maritimes. I'm only trying to be honest with the facts.

[JT Jacobs]

Originally Posted by realcity

which is what i did too

but there's no ignoring the fact that a generation is leaving this city for other parts of the GTA and AB and BC. It's not that different from US rust-belts and CDN maritimes. I'm only trying to be honest with the facts.

The BC economy is contracting--big time. The next generation of savvy Hamiltonians will be staying put instead of becoming expats in uber-expensive places like Calgary and Vancouver.

[adam]

Isn't it still cheaper for a company to set up shop in Burlington? For an office park its a no brainer. Hamilton needs to make itself attractive for businesses. Great opportunity with our current economic situation and companies struggling to make ends meet.

[oldcoote]

Originally Posted by adam

Isn't it still cheaper for a company to set up shop in Burlington?

Commercial taxes are better in Burlington than Hamilton.

[raisethehammer]

those office parks in burlington will fill up soon and hamiltons' urban core will become destination number 1.

[markbarbera]

Hamilton still needs to make its commercial tax rates more attractive than its neighbours. We need to attract business downtown now. Hamilton has played the waiting game for 20 years now and its done the city more harm than good.

[omro]

Originally Posted by markbarbera

Hamilton still needs to make its commercial tax rates more attractive than its neighbours. We need to attract business downtown now. Hamilton has played the waiting game for 20 years now and its done the city more harm than good.

Waiting game? Waiting for what?

[adam]

Originally Posted by raisethehammer

those office parks in burlington will fill up soon and hamiltons' urban core will become destination number 1.

Those office parks in Burlington fill up as soon as they are built. Then they just build more of them. Hamilton needs to be more proactive. I agree with markbarbera.