Issue #31  Mar 27, 2008

There's hot demand for people wanting to buy homes in the St. John's, Mount Pearl region, and a lot of the interest is coming from outside the province. There is very little listing inventory (inventory in the region is down 50 per cent) A lot of the buyers are from outside the province, especially the province of Alberta. They see this region as a great place to invest as it has a healthy, prosperous economy. Stats are showing that it will remain a seller's market for a long time yet. Royal Bank of Canada reports show that housing prices in St. John's are up 15 per cent.


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Fraser and Stephen Winters - Remax

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Torbay bypass road
torbay bypass roadThe new bypass, to be completed in 2009, includes an 8.1-kilometre stretch of undivided highway that will wrap around Torbay, connecting with a five-lane highway by St. John's International Airport, which itself will be extended.

The bypass will help to support continued growth of tourism, business investment, and economic development in the region and will likely mean speedier development of new home construction subdivisions.

View the bypass road on a map
Homebuyers pay down mortgages faster
Pay down mortgageCanadians who have recently purchased real estate plan on paying off the mortgage as quickly as possible according to an annual mortgage consumer survey released by Canada Mortgage and Housing Corp.

More Canadians are becoming aware that, since mortgage interest is not tax-deductible in Canada, as it is in the United States, you are making mortgage payments of both principal and interest with money that you've already paid tax on "after tax dollars".

Homeowners working to pay down principal early
We'd love to answer any Real Estate question you may have. Just email us, we would be glad to be of assistance.

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Fraser & Stephen Winters
709-682-9245 or 709-682-9045
info@fatherandsonteam.ca

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In This Issue
Torbay Bypass Road
Pay Down Mortgage Fast
Mortgage Calculator
Mortgage Info
New MLS Listings
Remax Listings
Real Estate Blog
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