Absorption Chart – Bowmanville/Courtice – February 2010

Absorption Rates for Bowmanville/Courtice
(Absorption rate is the time it would take to sell the current supply of homes for sale – in months)
Price Range	February Sales	Active Listings	Months of Supply
150,000 – 175,000	1	4	4 months
175,000 – 200,000	15	19	1.3 months
200,000 – 225,000	25	39	1.6 months
225,000 – 250,000	34	55	1.6 months
250,000 – 275,000	11	25	2.3 months
275,000 – 300,000	10	35	3.5 months
300,000 – 325,000	6	15	2.5 months
325,000 – 350,000	6	16	2.3 months
350,000 – 375,000	0	6	Oversupply
375,000 – 400,000	4	10	2.5 months
400,000 – 500,000	3	14	4.6 months

Absorption Chart – Whitby – February 2010

Absorption Rates for Whitby
(Absorption rate is the time it would take to sell the current supply of homes for sale – in months)
Price Range	February Sales	Active Listings	Months of Supply
150,000 – 175,000	1	1	0
175,000 – 200,000	1	3	3 months
200,000 – 225,000	3	4	1 month
225,000 – 250,000	12	17	1.4 months
250,000 – 275,000	19	33	1.7 months
275,000 – 300,000	19	33	1.7 months
300,000 – 325,000	10	31	3.1 months
325,000 – 350,000	10	20	2 months
350,000 – 375,000	11	26	2.4 months
375,000 – 400,000	5	20	4 months
400,000 – 425,000	3	12	4 months
425,000 – 450,000	3	13	4.3 months
450,000 – 500,000	6	16	2.6 months

Absorption Chart for Oshawa – February 2010

Absorption Rates for Oshawa
(Absorption rate is the time it would take to sell the current supply of homes for sale – in months)
Price Range	February Sales	Active Listings	Months of Supply
150,000 – 175,000	14	44	3.1 months
175,000 – 200,000	34	75	2.2 months
200,000 – 225,000	31	53	1.7 months
225,000 – 250,000	27	63	2.3 months
250,000 – 275,000	22	50	2.3 months
275,000 – 300,000	14	42	3 months
300,000 – 325,000	9	21	2.3 months
325,000 – 350,000	6	30	5 months
350,000 – 375,000	7	19	2.7 months
375,000 – 400,000	7	24	3.4 months
400,000 – 450,000	2	17	8.5 months
450,000 – 500,000	2	7	3.5 months

Ask Your Agent – Oshawa This Week – February 17, 2010

Ask Your Agent – Oshawa This Week – February 17, 2010
Question:
Lindsay: My husband and I are starting to look for our first home and honestly we have been scared by what our friends have said about the new changes in obtaining a mortgage for our home. We are pre-approved currently but would like to know how the new changes will affect our purchase.
Tanya  

Answer:
Tanya: The changes to the way mortgages are dealt will have some impact on Buyers and Homeowners; some positive and some negative. The changes only affect Buyers or Homeowners who are mortgaging a property or refinancing and need to have the mortgage insured. This means that the down payment or equity left after a re-finance is less than 20%. When a Buyer gets pre-qualified for a mortgage the rules are quite rigid:
Gross Debt Service Ratio – this means that the amount of monthly payments for mortgage, taxes and a portion for heat cannot exceed 32%
Total Debt Service Ratio – this means that the amount of monthly payments for mortgage, taxes, heat and any other debts cannot exceed 40%
The changes the government has made will not affect the percentages of borrowing but will alter how the qualification is done. Previously, the lender would take a Buyers income and apply the TDS or GDS ratios to arrive at a monthly amount the buyer could afford. Then they would use the factor for a 3 year fixed rate mortgage to determine the maximum amount allowable to be borrowed. The new changes require the lender to use the higher figure of a 5 year fixed term mortgage. (a random check today shows a 3 year mortgage at 3.25% and a 5 year at 3.69%) This will reduce the amount of mortgage the Buyer can afford with the thought that the mortgage will be more stable and there will be less of a chance of the Buyer defaulting. The only change is in the initial qualification, the Buyer can still opt for any term mortgage that they choose to take.
The next change that was made was to limit the maximum amount for refinancing an existing mortgage. Previous to these changes, a homeowner could refinance a home up to a maximum of 95% of its value. The new changes will lower that limit to 90%, again, with the idea that by limiting what can be borrowed the Buyer will not place themselves is a position that will be problematic.
The last change made only applies to investment properties. In the past if a buyer wanted to purchase a home as an investment they could use the 5% down program to acquire the home. The new rules dictate that a home being purchased for an investment must have a minimum downpayment of 20%. The idea behind this change is to prevent speculation in the marketplace.
All in all the changes are not overly dramatic. The federal government is attempting to protect buyers by limiting the amount of a mortgage they can put on a home which is not a bad thing. However, it does take away the ability to afford a home and common sense would lead you to believe that in a market such as we are in currently; a post recession real estate market, that incentives for home ownership would be a healthier way to approach keeping our real estate market strong. Bear in mind Tanya, the changes take place on April 19th and any agreements entered into before then use the current rules. Tanya, for more info on mortgaging and a library of frequently asked questions go to www.soldbylindsay.com 

Lindsay

January 2010 Absorption Charts – Individual Areas – Oshawa/Whitby/Clarington

Absorption Rates for Oshawa
(Absorption rate is the time it would take to sell the current supply of homes for sale – in months)
Price Range	January Sales	Active Listings	Months of Supply
150,000 – 175,000	10	31	3.1 months
175,000 – 200,000	23	70	3 months
200,000 – 225,000	18	45	2.5 months
225,000 – 250,000	18	45	2.5 months
250,000 – 275,000	9	35	3.8 months
275,000 – 300,000	12	30	2.5 months
300,000 – 325,000	6	14	2.3 months
325,000 – 350,000	5	15	3 months
350,000 – 375,000	1	18	18 months
375,000 – 400,000	5	11	2.2 months
400,000 – 450,000	3	12	4 months
450,000 – 500,000	1	2	2 months

Absorption Rates for Whitby
Price Range	January Sales	Active Listings	Months of Supply
150,000 – 175,000	1	1	0
175,000 – 200,000	0	1	Oversupply
200,000 – 225,000	4	6	1.5 months
225,000 – 250,000	14	17	1.2 months
250,000 – 275,000	15	21	1.4 months
275,000 – 300,000	14	22	1.6 months
300,000 – 325,000	8	14	1.8 months
325,000 – 350,000	11	19	1.7 months
350,000 – 375,000	8	17	2.3 months
375,000 – 400,000	5	15	3 months
400,000 – 425,000	0	5	Oversupply
425,000 – 450,000	4	8	2 months
450,000 – 500,000	1	5	5 months

Absorption Rates for Bowmanville/Courtice
Price Range	January Sales	Active Listings	Months of Supply
150,000 – 175,000	1	3	3 months
175,000 – 200,000	6	13	2.2 months
200,000 – 225,000	5	17	3.4 months
225,000 – 250,000	15	35	2.3 months
250,000 – 275,000	11	16	1.5 months
275,000 – 300,000	6	19	3.2 months
300,000 – 325,000	7	17	2.4 months
325,000 – 350,000	7	10	1.4 months
350,000 – 375,000	2	7	3.5 months
375,000 – 400,000	1	4	4 months
400,000 – 500,000	1	7	7 months

January 2010 Absorption Chart – Oshawa/Whitby/Clarington

Absorption Rates for Whitby/Oshawa/Bowmanville
(Absorption rate is the time it would take to sell the current supply of homes for sale – in months)
Price Range	January Sales	Active Listings	Months of Supply
150,000 – 175,000	12	35	2.9 months
175,000 – 200,000	29	84	2.9 months
200,000 – 225,000	27	68	2.5 months
225,000 – 250,000	47	97	2.1 months
250,000 – 275,000	35	72	2 months
275,000 – 300,000	67	71	1.1 months
300,000 – 325,000	21	45	2.1 months
325,000 – 350,000	23	44	1.9 months
350,000 – 375,000	11	43	3.9 months
375,000 – 400,000	11	30	2.7 months
400,000 – 500,000	10	39	3.9 months

Comparison of Year End Statistics 2008/2009

Comparison of Year End Statistics 2008/2009
Area	Homes for Sale	Sales	Average Sale Price 2009	Price Change
Whitby	-20%	+8%	$292,629	+1%
Oshawa	-20%	+1%	$217,751	Same
Courtice/Bowmanville	-13%	+9%	$243,704	Same
Totals	-18%	+5%	$251,361	+1/2%

December Absorption Rates – Individual Areas Oshawa/Whitby/Bowmanville/Courtice

Absorption Rates for Oshawa
(Absorption rate is the time it would take to sell the current supply of homes for sale – in months)
Price Range	December Sales	Active Listings	Months of Supply
150,000 – 175,000	9	18	2 months
175,000 – 200,000	21	44	2 months
200,000 – 225,000	14	25	1.8 months
225,000 – 250,000	19	37	1.9 months
250,000 – 275,000	13	25	1.9 months
275,000 – 300,000	3	24	8 months
300,000 – 325,000	3	9	3 months
325,000 – 350,000	5	14	2.8 month
350,000 – 375,000	3	7	2.3 months
375,000 – 400,000	4	11	2.8 months
400,000 – 450,000	3	9	3 months
450,000 – 500,000	0	1	n/a

Absorption Rates for Whitby
Price Range	December Sales	Active Listings	Months of Supply
150,000 – 175,000	0	0	0
175,000 – 200,000	1	2	2 months
200,000 – 225,000	2	3	1.5 months
225,000 – 250,000	13	16	1.2 months
250,000 – 275,000	10	15	1.5 months
275,000 – 300,000	15	16	1 months
300,000 – 325,000	10	12	1.2 months
325,000 – 350,000	12	17	1.4 months
350,000 – 375,000	3	5	1.6 months
375,000 – 400,000	4	8	2 months
400,000 – 425,000	1	3	3 months
425,000 – 450,000	4	5	1.3 months
450,000 – 500,000	0	3	n/a

Absorption Rates for Bowmanville/Courtice
Price Range	December Sales	Active Listings	Months of Supply
150,000 – 175,000	1	3	3 months
175,000 – 200,000	15	20	1.3 months
200,000 – 225,000	12	16	1.3 months
225,000 – 250,000	8	23	2.9 months
250,000 – 275,000	7	14	2 months
275,000 – 300,000	3	11	3.7 months
300,000 – 325,000	2	5	2.5 months
325,000 – 350,000	2	5	2.5 months
350,000 – 375,000	0	4	n/a
375,000 – 400,000	1	4	4 months
400,000 – 500,000	1	4	4 months

December Absorption Chart – Oshawa/Whitby/Bowmanville/Courtice

Absorption Rates for Whitby/Oshawa/Bowmanville
(Absorption rate is the time it would take to sell the current supply of homes for sale – in months)
Price Range	December Sales	Active Listings	Months of Supply
150,000 – 175,000	10	21	2.1 months
175,000 – 200,000	37	66	1.8 months
200,000 – 225,000	28	44	1.6 months
225,000 – 250,000	40	76	1.9 months
250,000 – 275,000	30	54	1.8 months
275,000 – 300,000	21	50	2.4 months
300,000 – 325,000	15	26	1.7 months
325,000 – 350,000	19	36	1.9 months
350,000 – 375,000	6	16	2.6 months
375,000 – 400,000	9	23	2.6 months
400,000 – 500,000	9	25	2.8 months

November Absorption Chart – Individual Areas – Oshawa, Whitby, Bowmanville/Courtice

Absorption Rates for Oshawa
(Absorption rate is the time it would take to sell the current supply of homes for sale – in months)
Price Range	November Sales	Active Listings	Months of Supply
150,000 – 175,000	19	33	1.7 months
175,000 – 200,000	36	58	1.6 month
200,000 – 225,000	26	49	1.9 month
225,000 – 250,000	17	35	2.1 month
250,000 – 275,000	11	28	2.5 month
275,000 – 300,000	9	21	2.3 month
300,000 – 325,000	5	13	2.6 month
325,000 – 350,000	6	17	2.8 month
350,000 – 375,000	3	8	2.6 month
375,000 – 400,000	1	9	9 month
400,000 – 450,000	3	8	2.6 month
450,000 – 500,000	1	7	7 month

Absorption Rates for Whitby
Price Range	November Sales	Active Listings	Months of Supply
150,000 – 175,000	0	1	0
175,000 – 200,000	2	3	1.5 month
200,000 – 225,000	4	4	1 month
225,000 – 250,000	16	18	1.1 month
250,000 – 275,000	17	22	1.3 month
275,000 – 300,000	18	21	1.2 month
300,000 – 325,000	15	19	1.3 month
325,000 – 350,000	8	18	2.3 month
350,000 – 375,000	13	19	1.5 month
375,000 – 400,000	7	15	2.1 month
400,000 – 425,000	4	5	1.3 month
425,000 – 450,000	1	7	7 month
450,000 – 500,000	1	5	5 month

Absorption Rates for Bowmanville/Courtice
Price Range	November Sales	Active Listings	Months of Supply
150,000 – 175,000	0	3	0
175,000 – 200,000	11	22	2 month
200,000 – 225,000	15	21	1.4 month
225,000 – 250,000	17	29	1.7 month
250,000 – 275,000	18	26	1.4 month
275,000 – 300,000	10	19	1.9 month
300,000 – 325,000	5	9	1.8 month
325,000 – 350,000	5	9	1.8 month
350,000 – 375,000	1	6	6 month
375,000 – 400,000	1	3	3 month
400,000 – 500,000	2	4	2 month