Canadian Real Estate News Roundup

October 22, 2008 · Filed Under Real Estate Roundup, St. John's Real Estate · Comments Off 

It’s the middle of the week and after having brutal weather, very high winds and approximately 65mm of rain I had a little time to surf the web.  :) Below are a couple of real estate related articles and news clips I stumbled upon.  Enjoy!

  • Looking for a couple quick and simple kitchen reno ideas?  Lazy Man and Money has a post on his blog on the topic of Easy and Cheap Home Remodels.
  • Urban housing starts increased during  September, according to preliminary data released today by Canada Mortgage and Housing Corporation.   Read more on the article St. John’s Housing Starts Increase in September and see the break down for other cities in Newfoundland.

Tax Credit for First Time Buyers

September 18, 2008 · Filed Under First Time Buyers, St. John's Real Estate · Comments Off 

I’m not one for talking politics.  Nor am I one for pushing a certain poltical party on anyone, but this caught my interest….more so for me to write about.

In Stephen Harpers campaign, he is offering a tax credit to first time home buyers if re-elected.  Up to a $5000 tax credit to help with closing costs.  Note this is a tax credit and NOT $5000 cash in hand. According to the article on CBC, it would result in a maximum return rebate of $750 per family.

The average selling price of a home in this country will rise by 3.3 per cent this year to $317,450, and by a further three in 2009 to $327,000, Canada Mortgage and Housing Corporation predicted last month.

The average closing costs on a house ranges from 1% to 2% the cost of the house.