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Montreal Image: Snowy Tree in St Antoine

Photo: Deyanira Bautista

The Montreal Real Estate Blog showcases outstanding images from talented local photographers. Images are licensed with Creative Commons 3.0 . If you’d like to submit your photography, please join our flickr pool.

Eatery: Titanic Cafe in Old Montreal

Definitely the perfect place if you’re looking to grab a quick lunch, just before the lunch-rush hour.
You’ve probably won’t find Titanic unless someone points it out to you. Its not located in a major street in Old Montreal, but it is well known by the locals as a Gourmet Sandwich place. Titanic Cafe, hidden away in the semi-basement, has by far the tastiest antipasto plate I’ve had ever tried. Not to mention the huge, melt-in-your-mouth baguette sandwiches that are their signature style. Suggested sandwiches: Tuna Salad, and the Mexican Style Pork Sandwich.
If you can manage to arrive before 12 noon, the better chances to find a table. The place fills up very quickly, everyday.

Titanic Cafe

Address: 445 Rue St-Pierre
Tel: 514. 849. 0894
Website

Open weekdays only.

New Rules for Canadian Mortgages

You’ve probably read about the new regulations regarding Canadian mortgages for buyers/ investors and home owners wanting to re-finance. In case you haven’t been following, here is the scoop.

Three changes will come in effect on April 19:

1. Qualification: All borrowers will need to meet standards for five-year fixed-rate mortgages regardless of whether they’re seeking a loan with a lower rate and shorter term.
2. Refinancing: The government is lowering the maximum amount Canadians can withdraw when refinancing a home to 90% of its value, from the current 95%.
3. Speculation: It will be required a 20% down payment for government-backed mortgage insurance on “speculative” investment properties. As opposed to 5% down-payment for investments not occupied by the owner.

I’ve posted a list of articles written by the media. You can also check out The Canadian Mortgage Trends for an interesting and detailed post.

Wednesday Links: Mortgage Rules in the Media

Reckless speculators get a cold shower – The Globe and Mail
Ottawa’s decision to hike minimum down payment required to obtain insurance on investment homes likely to have immediate effect.

Don’t worry, home loan rules can still be bent - The Montreal Gazette
The good news or bad news, depending on your perspective, is you can still buy a home in Canada with almost no money…

Home buying rush expected in spring - The Globe and Mail
That may be the calm before the storm. Analysts expect a hot spring real estate market given Finance Minister Jim Flaherty’s move to tighten mortgage standards yesterday.

The trouble with bubbles: They’re elusive – The Globe and Mail
Some say government spending has overinflated global assets; but even the best minds have missed calling most collapses

GMREB Video: Condo Sales Increases in January 2010

Last month, just as the month before that, there was another record breaking sales for the condo market. The new video of the GMREB explains the numbers as well as the so called “Real Estate Bubble” that people are talking about.

Michel Beauséjour, the CEO of the GMREB, clarifies the rumors about another real estate bubble by defining what the bubble means.

” (A bubble) Is supported by massive especulation in the market, which means that people are just buying houses or condominiums to resell it very quickly after and make money. We have no evidence that this is happening in the market right now. ”
“The condominium market is supported by first time buyer.”

Based on a survey in 2010, 43% of those first time buyers are renters

RSS readers: If you are not able to view this video, click on this link

Our Brand-Spanking New Facebook Page

Finally I got around to making a Facebook Fanpage for the Blog. It has been on my mind since last November, and I must admit: I didn’t have a clue how to make one. But miracles do happen, and last week I belatedly uncovered the Facebook Fanpage Mystery. Now, it’s just figuring out what to do with it. I’m still pondering over that last one. Suggestions are, as always, gratefully appreciated.

You might think that having a blog is already enough work. And you’re right.
What I am hoping here is that -unlike the blog- the Facebook page will be self-supported. Of course, with the help of all the lovely fans!

I invite you to join. Yes, you. I know you have a Facebook account, and don’t pretend you don’t.
Let’s get the discussions going, comments and links to Real Estate related topics. It’s up to you.

And oh, before I forget…I’ve change the Facebook sidebar link to point to the page itself and not my profile anymore. Just in case you missed this post.

2009 Real Estate Market – Good Performance

December’s stats came out early this month. The Greater Montreal Real Estate Board (GMREB) often gives us monthly numbers and this time, they also have some information on how the year did in general, compared to 2008.

We had a slow start last year. The market didn’t show serious signs of activity until late spring. Of course, they didn’t mention that until now, but we could all feel it.  Glad that slow time is over.

According to the GMREB, in 2009 prices increased a 5% more than in 2008. There were also more sales- houses lead the way this time, as opposed to condos. And finally, the month of December was very extremely active. There was an increase 0f 67% more sales than in 2008.

So far this year looks promising. The first time buyer’s season is approaching soon. Properties are getting ready to enter the market. Make sure you don’t get left behind.

Always happy to answer your real estate questions.

Happy monday to all!

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