Wanted: Single Women

By
Mortgage and Lending with Verico Canada First Mortgage/ Rainbow Realty

 

According to the following article, the time to buy is now!  With spring approaching, interest rates low, and a great inventory of motivated sellers, now is a perfect time to contact a mortgage and real estate professional and explore your options.

Lethbridge Mortgage Broker Lethbridge Real Estate

 

Single women are keen to buy and now is the perfect time, survey says

Helen Morris, National Post  Published: Thursday, March 05, 2009

Among single, independent female purchasers, 35% said one of the best aspects of home ownership is having a yard or garden to enjoy.

Among single, independent female purchasers, 35% said one of the best aspects of home ownership is having a yard or garden to enjoy.

 

As home prices and some mortgage rates continued to fall this week, a survey showed almost two-thirds of Canadians think it's a homebuyer's market out there.

According to the 16th Annual RBC Homeownership Survey, 27% of respondents said they intended to buy a home within the next two years. This is up from the 23% who said at this time last year that they would be taking the plunge - that's the biggest rise the survey has recorded since 2001. But some of the potential buyers may not have the patience to wait two years to sign a contract. Some 48% of the more than 2,000 respondents to the survey said they thought it made more sense to buy a home now rather than wait until next year.

Younger survey respondents were even keener to buy. The survey reported that among under 35s, 48% planned to buy - a very significant rise on the 36% in 2008. Those still paying rent may also be eyeing falling interest rates and more affordable homes, as 38% of tenants said they planned to own a home within the next two years.

"The current economic environment does not appear to have dampened Canadians' overall confidence in the housing market," said Karen Leggett, head of home equity financing at RBC Royal Bank, in a release. "Canadians continue to have an overwhelming belief in the long-term value of a home and we're seeing this in the buying intentions of many first-time homebuyers this year."

In urban centres such as Toronto, those first-time buyers may have quite a few properties to choose from.

"The market ... in particular over the last six months has improved noticeably for first-time buyers," said Phil Soper, president and CEO of Brookfield Real Estate Services (parent company of Royal LePage), in an interview. "The number of new properties typical first-time buyers would be searching for, particularly multiple-unit projects or condo projects, has increased; these projects are many years in the planning and now more and more of that product has come on to the market and prices have eased."

According to Mr. Soper, the demographic of a typical first-time buyer looks somewhat different these days.

"In years gone by, typically, first-time buyers were a family. An interesting twist in the nature of the first-time buyer profile is that that person increasingly is single," he says. "And they're typically female. Almost double the number of single women buy homes versus single men, and they buy them at a younger age."

With this new buyer profile in mind, eager sellers may like to take a look at this week's TD Canada Trust Women and Home Ownership Poll to discover what women may be looking for in a home.

According to the survey of 1,000 women who had purchased a home independently, 43% said the best thing about owning a home is financial security.

"And since the poll shows that cost is the number one deciding factor, the lower housing prices and attractive mortgage rates we are experiencing mean this is a great time for women who have been planning to purchase a home to get into the market," said Joan Dal Bianco, vice-president, real estate secured lending, TD Canada Trust, in a release.

Next after financial considerations, 35% of survey respondents said the best aspect of home ownership is having a backyard or garden, followed by 34% who rated simply having private space to enjoy some peace and quiet.

However, while the respondents to the TD survey rated having a garden, they do not necessarily want to do the digging. A total of 28% of respondents said their top dislike was yard work and snow removal. The least favoured aspects of owning a home, however, were the cost of maintenance and repairs (43%) and the actual maintenance (42%).

 

 

Thanks for reading,

 

Here are a few of my favorite past articles from my Lethbridge real estate and mortgage blog you might have missed or wish to recommend them to a friend.

Common Financial Problems - Avoid these financial mistakes
Get Your Credit Score UP - Invaluable insight into your credit score
Mortgage Guidelines Get Tighter - Harder and harder to borrow money
Is Your Mortgage Company Out of Business in 2009? - What to do when your bank goes broke
What is wrong with MLS - Is your info being abused?
Survivor - Real Estate Edition - Let's vote a few more off the island

 

 



Robert May is a Realtor, as well as the broker and owner of Rainbow Realty of Lethbridge Alberta. He is also a licensed mortgage associate and financing expert with Canada First Mortgage of Calgary Alberta. He has been in the real estate industry since 1993 and offers full MLS real estate services to Lethbridge and surrounding area, as well as mortgage financing, refinancing/renewals, preapprovals, and home equity financing to Lethbridge and Southern Alberta. He can be found online at www.LethbridgeLoans.com





Let me share my 15 years experience in the local Lethbridge real estate and financing market with you! It is the first step towards making a profitable real estate decision.

Lethbridge Mortgage Broker Lethbridge Real Estate

 




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Comments 16 New Comment

Show All Comments
Rainer
226,839
Ryan Shaughnessy
Broker/Attorney - Your Lafayette Square Real Estate Partner
PREA Signature Realty - www.preasignaturerealty.com

Robert - I like the results of the survey.  Women and first-time homebuyers are important market segments for our brokerage.

March 09, 2009 02:33 AM
Rainmaker
675,727
Mary Yonkers
Erie/PA Real Estate Instructor
Alan Kells 1-814-881-7548

Robert,

I followed you here because you commented on Lynn's Blog recently.  I liked your advice so here I am, but I am not single nor do I live in Canada.  Lake Erie 

 

Today's post captured my attention because of the title and the crip pictures.  Keep writing. & have a great day.  Mary

March 09, 2009 02:52 PM
Rainmaker
340,047
Robert May
Real Estate Expert & Mortgage Broker- Lethbridge
Verico Canada First Mortgage/ Rainbow Realty

Thankyou so much Ryan and Mary.  I thought it was a catchy title, lol.

March 09, 2009 04:20 PM
Rainer
17,372
Lynn Meldrum
Lynn Meldrum with Verico Canada First Mortgage

Well I thought you where not happy but I was wrong.  Really catchy title.  Are you coming up next week for the meeting?

March 09, 2009 05:59 PM
Rainmaker
162,738
Reba Haas
Team Reba, CDPE
Team Reba of RE/MAX Metro Eastside www.TeamReba.com

I'm with you that women are a good target market for real estate. Down here in Seattle we'll be teaching a class specifically focused on women called, "Why Women Should Buy Real Estate".  Given that many are delaying marriage and children it is a reasonable place for women to begin building their own financial security.  Even if they do get married later on, the 1st home could either help be the nest egg toward a new marital home or perhaps a rental property for future income.

March 09, 2009 09:46 PM
Rainmaker
340,047
Robert May
Real Estate Expert & Mortgage Broker- Lethbridge
Verico Canada First Mortgage/ Rainbow Realty

Next weeks meeting should be a go for us, as long as Dan has an interesting guest on hand.

 

Reba, I wouldnt mind designing some sort of seminar for women here, there used to be a few people doing them but hasnt been for a long time.

March 09, 2009 10:37 PM
Ambassador
1,308,040
Robert (Vegas Bob) Swetz
Commercial & Residential Real Estate Agent
REALTY ONE GROUP - LAS VEGAS, NEVADA 702.443.7156

Robert - You caught with the title and great post with some wonderful information. This ones for you Robert and all the Ladies!

Featured at: LATE NIGHT - EARLY MORNING AT ACTIVERAIN

March 10, 2009 11:17 AM
Rainmaker
65,272
Andrea Curtis United Country Premier Properties Certified Military Relocation Professional
Certified Military Residential Specialist
United CountryPremier Properties

Robert after seeing your title I had to check this one out.  We are seeing more single women contacting our office concerning buying.  My sister had her own home before she married.   It was a great investment for her.

March 10, 2009 12:57 PM
Rainmaker
340,047
Robert May
Real Estate Expert & Mortgage Broker- Lethbridge
Verico Canada First Mortgage/ Rainbow Realty

hahaha, thanks Robert.

March 10, 2009 02:30 PM
Ambassador
766,127
Hannah Williams
Expertise in NE Philadelphia & Bucks County
Re/Max Eastern inc.

Robert..You certainly got my attention with that title..It is also a very good article and very true...:0)

March 11, 2009 12:27 PM
Rainmaker
130,156
Olga Diaz
Potter, Mng Broker, CRS, ASP, ePRO, ABR
COLDWELL BANKER TOMLINSON

Robert!  The title was perfect!  This is a great time to buy, especially for single ladies.  Thanks for the wonderful info!

March 12, 2009 02:51 PM
Rainmaker
340,047
Robert May
Real Estate Expert & Mortgage Broker- Lethbridge
Verico Canada First Mortgage/ Rainbow Realty

I have that 'all the single ladies' song running though my head for the past week now.  It drives me crazy, over and over, ack!

March 12, 2009 03:06 PM
Rainmaker
400,543
Marian Goetzinger
Crystal Coast Real Estate NC
Pine Knoll Shores Realty 252-422-9000

OK Robert, You got me with the title even though I'm happily married.  Watch out for my next blog, looking for rich single men.  Like it?

March 16, 2009 07:29 PM
Rainmaker
340,047
Robert May
Real Estate Expert & Mortgage Broker- Lethbridge
Verico Canada First Mortgage/ Rainbow Realty

Oh ya Marian, that would catch attention.

March 16, 2009 10:55 PM
Rainmaker
973,701
Sharon Alters
Your Fleming Island Relocation Agents.
Coldwell Banker Vanguard Realty

Robert, very interesting post. Single women need to make smart investments and that includes buying a home rather than renting.

August 16, 2010 10:51 PM
Rainmaker
340,047
Robert May
Real Estate Expert & Mortgage Broker- Lethbridge
Verico Canada First Mortgage/ Rainbow Realty

Thanks for coming by Sharon.  I will try to repay the visit by checking out your blog in the next day or two.

August 17, 2010 06:20 PM
Show All Comments
Rainmaker
340,047

Robert May

Real Estate Expert & Mortgage Broker- Lethbridge
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