Archive for October, 2009

Residential Bank Repossessions in the Montreal Homes for Sale Market

Thursday, October 29th, 2009

Amongst the Montreal homes for sale, there are often bank repossessions that appear on the Montreal real estate market. Often times someones misfortune can become someone else’s good luck in the world of the Montreal homes for sale market. The pricing of Montreal homes for sale that are bank repossessions is usually below market value and that means there are great deals to be had. Montreal homes for sale that are bank repossessions are always sold without legal warranty. That means that theses Montreal homes for sale are sold at the risk and peril of the buyer. There is no warranty of quality. This makes a good inspection crucial when one wants to make an offer on such a property.

Many savvy buyers in the Montreal homes for sale market look specifically for bank repossessions. These properties do not usually stay on the Montreal real estate market very long. That is why it is important to be aware when such properties come on the Montreal homes for sale market and to be ready to act on them right away.

Currently among the Montreal homes for sale on the market, twenty three of them are bank repossessions. I personally check for new bank repossessions on a daily basis in order to be able to pass the information on to my interested clients. It is the only way to stay on top of the action.

Montreal homes for sale that are bank repossessions also often include multi-plexes or revenue properties.
There are great deals to be had amongst the repossessed multi-plexes in the Montreal homes for sale market. Once again, they do not stay on the market very long since there is a high demand for such properties amongst Montreal homes for sale investors. Currently there are thirty two revenue properties being sold as bank repossessions on the Montreal homes for sale market.

Montreal homes for sale also include repossessed Montreal condos. There are again great deals to be made in this sector of the Montreal homes for sale market. Currently there are twenty six Montreal condos being sold as bank repossessions on the Montreal homes for sale market.

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Westmount Homes For Sale in the Montreal Real Estate Market

Monday, October 26th, 2009

Westmount, with its tree lined streets, old Victorian homes, and affluent inhabitants, is definitely one of the most beautiful parts of the Montreal Real Estate Market. With a population of over twenty thousand inhabitants living in the small area of 4 km squared, it is no wonder we see such high prices for the properties in this area of the Montreal real estate market. In fact the average Montreal homes for sale which sold in Westmount since January 2009 has been $1,026,374. There were 106 single family home sales in the Westmount sector of the Montreal real estate market since January 1st, 2009 for a total volume of $108,795,623. The single family homes for sale in Westmount took an average of 112 days to sell in this period.

The Montreal condo market is also important in Westmount real estate. In the Montreal real estate market since January 2009, 41 condos were sold in Westmount for a total volume of $21,480,333. The average price for a condo in the Westmount section of the Montreal real estate market was $523,900 for this period. The condos in this sector of the Montreal real estate market took an average of 125 days to sell during this same period.

Although accounting for a smaller portion of the market share, revenue property sales are an important part of the Westmount market portion of Montreal real estate. Since the start of the year, 9 revenue properties were sold in the Westmount portion of the Montreal real estate market for a total volume of $9,613,00. Most of these were duplexes who’s average price was $1,008,100. The revenue properties in this sector of the Montreal real estate market took an average of 206 days to sell since January 1st, 2009.

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Pointe Saint Charles Real Estate within the Montreal Real Estate Market

Thursday, October 22nd, 2009

Pointe-Saint-Charles was one of Canada’s first industrial slums. The majority of its residents were Irish along with a sizable English and Scots immigrant population. The neighborhood is today one of the most ethnically diverse in Canada and in the World. It was home to many industrial workers in the 19th and 20th centuries. Many old buildings still remain in Point Saint Charles, making it a very historically rich part of Montreal and an interesting neighborhood of the Montreal real estate market.

More recently, the neighborhood has undergone gentrification. Pointe Saint Charles is now becoming an important residential neighborhood in the Montreal real estate market. City planners have predicted that the face of Pointe Saint Charles will change into a very sought after neighborhood within the Montreal real estate market. This has already begun with the arrival of professionals investing in property and construction firms building condominiums. This makes it a very good time to buy property in this great neighborhood of the Montreal real estate market.

Pointe Saint Charles real estate offers some advantages that other areas of the Montreal real estate market do not offer. Residents of Pointe Saint Charles enjoy lower property and school taxes due to lower city evaluations of their properties. You also get more bang for your buck in this sector of the Montreal estate market. Less money will buy you more house! Pointe Saint Charles is also extremely well situated compared to most neighborhoods in the Montreal real estate market. From this area, one has easy access to public transportation as well as major highways. This tranquil neighborhood is also a 5 minute drive to downtown Montreal and walking distance to the fabulous Atwater Market and Lachine canal. Few areas within the Montreal real estate market can boast such an ideal locality. Residents also enjoy a lot of green spaces. There are not many areas of the Montreal real estate market that have so many parks and where the homes are built on such large parcels of land. A big backyard is a very common feature of the homes for sale in this neighborhood of the Montreal real estate market.

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Choosing Amongst the Many Montreal Homes For Sale

Monday, October 19th, 2009

There are currently a great number of new and older listings for Montreal homes for sale on the market. With so much inventory in can be difficult for buyers to chose the property that is just right for them. Buyers have to be careful to discriminate between emotional decisions and logical ones when looking at Montreal homes for sale. In order to help in the process it is always better to have outside help in order to put things into perspective.
There are a number of questions to ask yourself about the Montreal homes for sale that interest you. Most importantly is can you afford it? No one should place themselves in a situation where they are “house poor”. For that reason it is always better to get pre-qualified before beginning to look at the Montreal homes for sale.
Another good question to pose about the Montreal homes for sale that you visit is will this home allow for me to grow into it? It may be good enough for your current needs but will it be enough to sustain your needs in two or three years? Are you a couple who may have kids in the near future? Make sure the Montreal homes for sale you visit will allow for the growth of your family.
It is also essential that you closely examine the condition of the Montreal homes for sale that you visit. Are there many renovations required to bring this house up to your standards of living? If many renovations are required, do you have the time, money, and real desire to do them? Remember that renovations, depending on the type, can be very expensive and can often take more time than was planned. If you are not up to renovating a house, perhaps it is best to stick with the Montreal homes for sale that are newer builds.
It is also important that you look closely at the neighborhood where you visit Montreal homes for sale. Is the neighborhood pleasing to you and well situated so that you can access the services that you have become accustomed to where you currently reside? If you have children, is it a safe area with schools in proximity? You will likely enjoy your new Montreal home only as much as you enjoy the neighborhood it is located in.

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Montreal Real Estate Market Update

Tuesday, October 13th, 2009

The Montreal real estate market is still on the road to recovery in the 3rd quarter of 2009. There was a 5 percent increase in sales this September in the Montreal real estate market compared to September 2008. The total sales of single family Montreal homes for sale were up by 8 percent. The total sales of the Montreal condo market were up by 1 percent this September compared to last September while the sales of plexes increased by 3 percent.

The Montreal real estate market also saw an increase in prices. The median price of the single family Montreal homes for sale in the Montreal real estate market increased by 7 percent in September compared to the same period one year earlier. The median price of the Montreal condo sector also increased by 7 percent in September compared to September 2008. The median prices of plexes in the market was also up by 5 percent. Most experts had agreed that the economy would begin a recovery in the third quarter of this year meaning that the  market activity will continue in the coming months.

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