Sean Kavanagh - Blog - Sean Kavanagh

Recent Blog Posts by Sean Kavanagh
To Buy or Not To Buy.....There is NO Question! Buying a home today...at today’s prices, would have a home owner paying less per month than if that home owner bought a home 25 years ago...at 1987 prices! I was recently at a real estate symposium and we were discussing the affordability of homeownership in today’s market. We were talking about current purchase prices vs. historic low interest rates and it took us back to a time when ... Posted by Sean Kavanagh on April 23, 2012		More
What you should know about deeply discounted mortgage rates You’ve heard the expressions ‘cheapest isn't always best’ OR ‘you get what you pay for’. This also applies to shopping for the best mortgage rates. When you are looking at paying off your largest investment over 25-30 years, it is easy to jump on the lowest rate available. But, the low-rate mortgages could actually cost you more in the long run. Check The ... Posted by Sean Kavanagh on January 20, 2012		More
"very personable, knowledgeable and helpful" - another satisfied client! If you are considering selling and/or buying a home, I urge you to contact Sean Kavanagh of Century 21 Miller Real Estate Ltd. He is very personable, knowledgeable and helpful. As someone new to this experience, he helped make the transaction as smooth and stress free as possible. He has vast contacts that helped me get my house ready for market (painter, roofer, contractor, etc) and contacts to ... Posted by Sean Kavanagh on October 25, 2011		More
Housing Prices To Remain Stable Into 2012 The Canadian housing market will grow at a much slower pace compared to the surge seen in the past decade. Home resales are expected to grow by 0.9 per cent this year and remain unchanged in 2012, while home prices will increase by 4.4 per cent this year and 0.4 per cent in 2012. Garth Turner will have you believe that the federal government’s policy to allow 40 year amortized mortgages ... Posted by Sean Kavanagh on September 8, 2011		More
Global Market Mayhem May Keep Interest Rates Low. Bank of Canada Governor Mark Carney’s plans to raise interest rates this fall have been put on hold as a result of the continued financial struggles in both the U.S. and Europe. It was originally believed that the bank would be raising rates this September, but recent indications suggest that we could be looking at rates dropping again before we begin to see increases. Home owners concerned ... Posted by Sean Kavanagh on August 17, 2011		More
May Market Update - House Sales Drop, But Prices Remain High! Canada's real estate market is recovering, though it's not all the way back, according to the Canadian Real Estate Association (CREA). But don't expect falling sales to be reflected in the price you pay. CREA notes that, in spite of fewer homes changing hands, Canada's average house price will rise four per cent to $352,500 per unit this year, and should jump to nearly $356,000 in 2012. ... Posted by Sean Kavanagh on May 13, 2011		More
How Much Are My Closing Costs Going To Be? It is always a shame when you hear about someone having a huge financial surprise on the day of closing. On the day you are making the biggest purchase of your life, many forget to calculate all of the other expenses that are to be paid on closing. These expenses will not be rolled into your mortgage, so be sure to calculate them all on top of the money you had planned to put down as your ... Posted by Sean Kavanagh on January 26, 2011		More
Clarifying the New Mortgage Regulations When the new HST was announced, many clients called me to ask questions about how they would be affected. I still have conversations with people who still unwittingly believe HST is applied to the purchase price of a home. So, to avoid similar confusion regarding the new mortgage regulations, I thought I would do my best to clarify the issue. 1) Reduce the maximum ... Posted by Sean Kavanagh on January 20, 2011		More
Housing market begins to cool As anticipated, July 1st has come and gone leaving a cooling of the real estate market in its wake. With many buyers and sellers trying to complete transactions before July 1st due to the HST introduction, raising interest rates and new government regulations on real estate purchasing, we are now witnessing a collective SIGH in the market......the calm after the storm, if you will. Experts ... Posted by Sean Kavanagh on July 13, 2010		More
More young Canadians taking advantage of low interest rates in housing market Younger Canadians are expected to lead the way with home buying this year as they take advantage of low interest rates, new jobs and what they consider "good prices," a bank survey says. The survey for the Royal Bank suggested that 15 per cent of Canadians between the ages of 18 and 24 were very likely to buy, almost double from eight per cent in 2009. "Our poll found that 35 per cent of younger ... Posted by Sean Kavanagh on April 21, 2010		More
Bank of Canada warns raising interest rates may come sooner than anticipated. The Canadian dollar posted its biggest single-day gain since July as the Bank of Canada warned that it will be raising interest rates. As the economy continues to recover, the raising of interest rates is just around the corner in an attempt to slow inflation. The bank's "extraordinary policy" of ultra-low rates was introduced to boost the economic recovery, but as the banks feel we are well into ... Posted by Sean Kavanagh on April 21, 2010		More
More young Canadians taking advantage of low interest rates in housing market Younger Canadians are expected to jump into the real estate market this year as they hope to take advantage of low interest rates and what they consider "good prices," The Royal Bank suggested that 15 per cent of Canadians between the ages of 18 and 24 were very likely to buy, almost double from eight per cent in 2009. With a tough job market with uncertain job security, young Canadians had been ... Posted by Sean Kavanagh on March 19, 2010		More
Average Family Debt Rises To $96,000 in 2009 A Canadian study on family finances says the average household debt has climbed to $96,000 in 2009. The number of mortgage payments that were at least 90 days late was up 50 per cent compared with 2008. There was also a 40 per cent increase in the number of credit card holders who were at least three months behind in their payments. The finance minister has announced changes to the home buying ... Posted by Sean Kavanagh on February 18, 2010		More
Finance Minister looking to cool this RED hot real estate market. Jim Flaherty has indicated that his measures to slow the Canadian real estate market back in July 2008 have not worked and he may need to take additional measures to prevent another housing crisis. Back in July 08, Flaherty decided to raise the minimum down payment for buyers from 0% down to 5%. He also lowered the amortization of mortgages from 40 years to 35 years. This seems ... Posted by Sean Kavanagh on February 16, 2010		More
Ontario Housing Market Will Stay Strong in 2010 Canada and more specifically Ontario appears to have avoided any lasting impact from the collapse of the US housing market and the subprime mortgage market meltdown. What we have seen over the past 18 months was fear versus demand and fair market values relative to the true economic environment in Ontario. From the price stability we have seen, I would say we are on great footing going forward. The ... Posted by Sean Kavanagh on January 14, 2010		More
Real estate recession over in Canada as prices recover House hunters still waiting for prices to drop further before buying may have sat on the sidelines too long, according to a new report. A study released Thursday shows home values in some major markets across Canada have recovered to levels where they were before the recent market drop. Economists agree and say the power has shifted to a seller's market in recent months, after the buyer's ... Posted by Sean Kavanagh on September 29, 2009		More
Let's Murder Your Mortgage Have you ever thought about paying off your mortgage quicker? Have you ever had some money you wanted to invest, but just didn’t know where to put your money? Bumping up your mortgage payment can save you a fortune over the years ahead. Consider our happy newlyweds Dick and Jane. They live in Burlington, Ontario in a three-bedroom, two-storey home. They owe $200,000 on their mortgage ... Posted by Sean Kavanagh on September 29, 2009		More
Mortgage Rate Update Mortgage rates have eased slightly for both the fixed rates & the variable rate mortgages. The 5 year fixed rate has finally come back down below 4% to 3.99%. The variable has also moved down to prime (2.25%) plus .15% on a 3 year term & prime plus .20% on a 5 year term. The variable seems to be the way to go, as the economists are now predicting that the Bank of Canada rate will ... Posted by Sean Kavanagh on September 9, 2009		More
Interest rates may be on the rise If you have been considering buying a house, refinancing to see if it you can save money by lowering your monthly payments, or are interested in taking some equity out to pay for some renovations, pay for some upcoming large purchases, or even just to use that money to go on that much needed vacation, then now is the time to consult a mortgage broker and find out whether now is the right time for you ... Posted by Sean Kavanagh on May 30, 2009		More
Many Losing their Property Virginity this Spring! First-time homebuyers are being lured into the real-estate market this spring by falling prices, lower interest rates, a large selection of homes to choose from and new government incentives. Century 21 Miller Real Estate has shown a drastic increase in the number of real estate transactions since the beginning of the year and much of that can be attributed to the number of first timers not wanting ... Posted by Sean Kavanagh on May 27, 2009		More
Hamilton Mountain Beauty priced to sell at $189,000!!! JUST REDUCED to $189,000 - 21 East 16th Street on the mountain in Hamilton Great family home located in a prime central mountain neighbourhood. This recently updated detached 3 bedroom, 2 bath, 2.5 storey beauty offers a separate dining room and living room, main floor den, with a large eat-in kitchen with walk-out to large deck and private backyard. Recently painted and updated. Up on the ... Posted by Sean Kavanagh on May 22, 2009		More
Sunday Open House –Alton Village Corner Lot Freehold Beauty! JUST REDUCED to $333,900 Open house at 4886 Verdi Street in Burlington on Sunday May 24th between 2:00pm and 4:00pm. Upscale Alton Village corner lot beauty with 1900 ft2 of living space. 3 bedroom + Den and 2.5 bathrooms. Oversized Master bedroom with ensuite including soaker tub, separate shower and large walk-in closet. Eat-in kitchen with walkout to the fenced in yard. Separate dining room, ... Posted by Sean Kavanagh on May 20, 2009		More
Interest Rate Watch – May 15, 2009 Term Rate 6 Months 4.25% 1 Year 2.90% 2 Years 2.85% 3 Years 3.05% 4 Years 3.59% 5 Years 3.59% 7 Years 4.95% 10 Years ... Posted by Sean Kavanagh on May 15, 2009		More
Oakville Real Estate Market Report - April 2009 Oakville, Ontario: If you were ever looking for the right time to buy in Oakville, don't wait any longer as now is the time. With record low interest rates, large inventory of houses on the market and stabalizing prices, you might not want to miss out on the great opportunities to buy your Oakville dream property. Average housing prices in Oakville are gradually catching up to the prices of ... Posted by Sean Kavanagh on May 14, 2009		More
Sunday Open House! JUST REDUCED - Alton Village Corner Lot Freehold Beauty! JUST REDUCED! Open house at 4886 Verdi Street in Burlington on Sunday May 3rd between 2:00pm and 4:00pm. Upscale Alton Village corner lot beauty with 1900 ft2 of living space. 3 bedroom + Den and 2.5 bathrooms. Oversized Master bedroom with ensuite including soaker tub, separate shower and large walk-in closet. Eat-in kitchen with walkout to the fenced in yard. Separate dining room, bedroom level ... Posted by Sean Kavanagh on April 29, 2009		More

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