Results Realty Atlantic Inc.

Main Office 902-752-7227 | EMAIL info@resultsrealtyatlantic.com |

Download the PDF version of this article HERE, complete with graphs (who doesn't like graphs)

 

Did you know that by making one extra payment a year on your mortgage and by rounding it up a bit, you could save your family a LARGE amount of money?

 

First, take a quick look at a typical mortgage amount; the average amount a house sells for in Pictou County is in the ballpark of $130,000. Our example will be a $130,000 mortgage at 4% interest, on a 5 year term, over 25 years.

 

The base monthly payment would be around $684.00. (does not include various fees, taxes...)

Over the lifetime of your mortgage (25 years) you would pay over $75,000 in interest. (OUCH)

 

 Now, imagine if you rounded your payment up just a bit – to $700.00 a month. What difference would that make?

  

Your extra $16 a month (to bring your regular payment of $684 up to $700) would save you $3,246 off your mortgage interest and 1 year off your amortization. Your home is paid off a year sooner, and you save yourself a nice little chunk of money. Again, this is an extra $16 a month. We believe many of you could do this.

 

Now, suppose that you can also manage to put away $60 a month (your bank can likely set this up for you as an automatic monthly transfer to a savings account), and ONCE a year you make ONE extra payment of $700. What difference would that make?

  

Your extra yearly payments will have saved you $13,370 off your mortgage and 4 years off your amortization. Instead of it taking 25 years to pay off, it only takes 21 years.  Now, we know doing all of this may not be easy, but the long-term gain is significant!

 

We encourage you to speak with a local mortgage specialist for more details about how you can get rid of that mortgage faster! If you aren’t sure who to talk to, give us a call and we can connect you with some highly qualified people who DO NOT CHARGE YOU for their time to look at your mortgage to see how they may help.

 

If you are looking for more information on how some payment options may help you get rid of that mortgage faster, email or call any time. We sell real estate - we do not do mortgages, but we know all the folks in the area that do, and we are all here and available to help you in any way we can.


Results Realty Atlantic Inc.

351 Stellarton Road

New Glasgow NS B2H 1M4

 

Call – 902-752-7227

Email info@resultsrealtyatlantic.com

 

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At Results Realty Atlantic, we are frequently asked, "so how is the market doing"? We have decided to provide you with a few numbers to answer that very question.

 Please note that the year isn't over yet - these statistics are only up until the end of November - but they are an excellent snapshot of the year and will provide you with a solid idea of how our local real estate market is doing compared to last year.

 

The report can be accessed in PDF format by clicking HERE.

 

  2013 2014 % Change 2013 Avg DOM 2014 Avg DOM % Change 2013 Avg Sale 2014 Avg Sale % Change
  # Sold  # Sold    of Solds  of Solds    Price of Sold  Price of Sold   
New Glasgow East Side 39 29 -34% 99 113 12% 125659 104972 -20%
New Glasgow West Side 41 41 0% 111 129 14% 151236 169900 11%
Stellarton 26 25 -4% 145 147 1% 111965 103576 -8%
Valley Woods 5 4 -25% 103 120 14% 212800 163125 -30%
New Glasgow, Stellarton 111 99 -12% 114 129 12% 135824 133859 -1%
                   
Trenton 15 17 12% 94 107 12% 81500 83821 3%
Westville 33 25 -32% 123 114 -8% 106209 89908 -18%
Pictou 25 26 4% 86 92 7% 88032 102256 14%
Trenton,Westville,Pictou 73 68 -7% 104 104 0% 94907 93107 -2%
                   
County East 48 46 -4% 98 162 40% 134771 151972 11%
County West 50 52 4% 95 180 47% 157654 166760 5%
Rural Pictou County 98 98 0% 96 172 44% 146446 159819 8%
                   
Pictou County Totals 282 265 -6% 105 138 24% 128923 133002 3%
                   
* Based on MLS® data provided by the Nova Scotia Association of REALTORS® for the Period Jan-Nov 2013 compared to Jan-Nov 2014
*single family detached homes only                

 

The overall picture is that, in terms of the number of houses sold, Pictou County is down 6%. Let's keep this in perspective as 6% is a drop of 17 sales (we don't want you thinking it is hundreds... it isn't)

 

It did take longer to sell this year - the DOM represents 'days on market'. With the exception of the Town of Westville, it took longer, on average, to sell a house this year than it did last year.

 

For those houses that sold, the average sale price did increase 3% overall, which may reflect a normal increase in property values.

 

Please watch out for big percentage swings which frequently occur in statistics in a small market like Pictou County. One example of this is, Valley Woods in Stellarton had 4 transactions so far this year compared to 5 last year. It says this is -25%. We just want to make sure you understand that with small numbers, big percentages don't really suggest big changes. Statistics are always tricky and if you see something you aren't sure of, we welcome your inquiries.

 

If you ever have any questions about what is happening in YOUR neck of the woods, we are always happy to help.

 

Please contact us any time or call our office at 902-752-7227.

Results Realty Atlantic Inc.

351 Stellarton Road

New Glasgow NS

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Posts made to this Pictou County Real Estate Blog are not intended to solicit the business of those who are under contract with another real estate brokerage. Information is provided to the public without obligation. Should you have any questions, please contact us.