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Real Estate Advice - Jan. 10, 2011

Blog by | January 10th, 2011

As the boomers begin to retire they'll likely be looking for smaller and more maintenance-free housing. According to a recent TD Canada Trust survey, 4 out of 5 boomers plan to move to a smaller home. Generation Y, many of whom are just starting out in their careers will be seeking housing that is more affordable. For many, this means a condo or townhouse.

TD's survey of younger first-time buyers concluded that 64% preferred urban locations while half of boomers also wanted to live in an urban centre, rather than rural locations.

Kelowna properties heading into receivership: Montebello Developments, Tuscan Villas and Copper Sky Development.

US courts strike down mortgage foreclosures because banks could not provide documentation. This has HUGE implications ... as many banks sold the 'bad mortgages' a half a dozen times and ownership may be in inter-bank papers, but not proper title registrations! Unbelievable - but true. Now every foreclosed property (past and future) could use these rulings to say to their lenders: 'SHOW ME THE DOCUMENTS' IF THEY CAN'T, THEY CANNOT FORECLOSE!!!

Expect the loonie to rise to at least to $1.05 and much further against the euro!