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!

Montreal Image: Park in Little Italy

photo: Deya Bautista

This little park is the same one facing the Condo Church in little Italy, on St Laurent Blvd. According to Google maps it’s called Parc Martel.
It’s located right at the entrance of the lovely neighbourhood of Little Italy. If you’ve never been there, it’s on St Laurent and Ste Zotique, where all the stores (apparel, groceries, etc) as well as restaurant and cafes are located. From this point on, and all the way north until Jean Talon there are many many places to shop, eat or just visit. There is now new developments and businesses opening on the Blvd just south of Ste Zotique. The area is expanding and new construction condos are surfacing in the neighbourhood.

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

No Escrow in Montreal

We don’t hear about Escrows in Montreal. Believe it or not, my fellow Real Estaters (I think I just created a new word) from other provinces and countries.

The first time I heard, actually I didn’t hear it, I READ the word Escrow it was in a Condo Buyer’s Guide I picked up for my clients, and right next to the glossary description of escrow there was a note: Not applicable in Quebec.

Naturally I didn’t take interest on that word, up until I had to work with someone who demanded a escrow company Read more >>

Google Maps the Next Real Estate Search Engine?

I guess it was just a matter of time before Google decided to monetize on the home search queries. A lot of real estate related websites are now using google maps (in the form of a plugin) as part of their listings, and so far is working out just fine.

I’ve noticed more and more properties appearing on google maps – or  Google Real Estate 2.0 as they are calling it- since this last summer, and the last time I checked there were a lot of listings from the west  coast of the US. But slowly is moving into Canadian territory. More and more Canadian cities are listing their properties online with google base. Agents and brokers are able to upload their listings via google base or RSS (I have yet to check into it). I was surprise to see that not many brokers/agencies listed from Montreal, there are 2 main websites getting most of the hits from google real estate map searches.

Will they compete with the MLS®, Realtor® website?
Compete, most probably. But they are neither a broker nor a MLS system, according to their disclaimer. The complete answer and explanation is found in their FAQ for Real Estate Agents and Brokers:

“Is Google a broker? A national MLS?

We’re neither. Our role is to connect users as quickly as possible with the information they need. People come to us looking for all kinds of information, including housing listings, comparable pricing, and how to find an agent or broker in their area. In all cases, we want to deliver these users to the industry experts who can provide the most useful answers.”

Well, as long as they don’t start crawling the MLS the Realtors.ca database -without permission- they will be lawsuit free. It makes me wonder if, say, 5 years from now, Google Maps -Real Estate 2.0 will be more popular than our Realtor’s site. We’ll have to wait and see.

What do you think?

Montreal Image: Gray Morning on Notre Dame E.

Photo: Deyanira Bautista.

I took a little walk in the neighbourhood with my camera the other day and I saw this almost empty side of the street, slightly covered with snow.It looked so peaceful. You can see the Molson logo at the top of the building in the center faded a bit by the fog.  This is the exact location where the picture was taken.

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.

When is the Best Time to Sale Your Home?

Assuming yours is a single family unit: House or Condo…

You often read that in the spring is the best time to sell a home. I strongly disagree.

In today’s market, the average home in Montreal takes around 2 to 3 months to sell- if priced according to the current market. You want to be closing in the spring, not listing it. By the time spring comes, you want your home SOLD – and not still for sale, otherwise you’ll be missing the boat.

When should you list it then? In the winter: end of January, beginning of February. Your home will have enough time to be well marketed, have serious buyers to visit it and get an offer in the table- hopefully a good one- and be sold by the spring.

Of course, you will need a good agent that knows how to market your property.
Contact us for all you Real Estate needs. Free appraisal, no hassle, no obligations.

Real Estate Glossary from A to Z

After almost 2 years of regularly posting the Real Estate Glossary for each individual letter, we finally have completed the alphabet. The definitions where taken from different public sources, both printed and online. Some of its content might need reviewing, as the real estate terminology may change, but for the most part I believe it to be pretty accurate.

Click on the correspondent letter to view the definitions:

A . B . C . D . E . F . G . H . I . J . K . L . M . N . O . P . Q . R . S . T . U . V . W .  Y . Z

Ps: Even though we called it the Real Estate Glossary, it also contains a lot of Financial & Mortgage Terms.
Just so you know.

Feel free to use it as a reference, when you need it.

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