Prices up, but may be at ‘plateau,’ report finds

Times Colonist- Prices moved up for Greater Victoria homes in the second quarter of this year, but the region’s high inventory is pushing down some parts of the market, a spokesman for real estate company Royal LePage said yesterday.

"Homes are generally selling below asking price, and significantly so in some condominium cases," said Carol Geurts of Royal

LePage Coast Capital Realty in Victoria.

"It appears prices may have reached a plateau for the moment, in that much of the price growth we expected for 2010 has already happened."

Condos in the lower end of the price range are most popular, while it can be more difficult to move those priced at $500,000 and up. "I think it goes back to the economy."

Yesterday, the Multiple Listing Service showed 1,001 listings for condominiums for sale in Greater Victoria. Of those, 28 were priced at $1 million and up, with the highest at $4.2 million for a 4,060-square-foot condo at Songhees…

Prices up, but may be at ‘plateau,’ report finds

First-time homebuyers expect a break

Calgary Herald- First-time homebuyers in Alberta, more than in any other Canadian province, expect to pay less than the asking price for their home.

The first TD Canada Trust Home Buyers Report, released Monday, says 71 per cent of those surveyed in the province expect to pay less than list price, compared with 65 per cent nationally. Among Alberta buyers, the report says, only 26 per cent expect to pay list price, with only three per cent expecting to pay more.

The report surveyed Canadians who have purchased their first home in the past two years or who intend to purchase a home in the next two years…

First-time homebuyers expect a break

A sharp shift in the market

The Globe and Mail- Some homeowners who were waiting for their gardens to spring to life before they listed their houses for sale are wondering if they would have been better off planting a sign on the lawn in the barren days of February and March. The answer, most likely, is yes.

Toronto’s real-estate landscape has shifted in the past few weeks with a burgeoning number of houses listed for sale.

For prospective buyers, the change means they are facing a phenomenon they haven’t encountered in quite some time: choice.

Real-estate broker Patrick Rocca of Bosley Real Estate Ltd. says the Toronto market has become quirky since listings began ramping up immediately after Easter.

Now, some houses are selling in bidding contests at premiums above the asking price that Mr. Rocca deems “crazy,” while in other cases agents anticipated a quick sale and the property is just sitting…

A sharp shift in the market – The Globe and Mail