Casey 's Blog

Downtown Toronto Condo for Sale

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Sat, 28 Nov 2009 12:31:08 -0600

The Residences Of College Park, New Building / Unit, Exceptional Location, Downtown Living At Its Finest, Fabulous View, Open Concept Kitchen, Stainless Steel Appliances, Granite Countertops, Spacious Den, Walk-In Closet In Master, Floor To Ceiling Windows, Master Ensuite, 24Hr Concierge, Fantastic Amenities, Walking Distance To Everything, Shopping, Restaurants, Minutes To Yorkville, Financial / Entertainment District, Be In The Center Of It All!

Stainless Steel Fridge, Stove, Microwave, Dishwasher, Washer / Dryer, All Existing Electrical Fixtures. Indoor Pool / Jacuzzi, Games Room, Party Room, Exercise Room.

To see full listing visit www.TheCondoLife.com

Casey Ragan

TORONTO'S CONDO SPECIALIST

Downtown Toronto Condo for Lease

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Mon, 02 Nov 2009 08:03:34 -0600

1 Bedroom + Den, 2 Bathroom - $2,000 / mth

The Residences Of College Park, Brand New Building / Unit, Exceptional Location, Downtown Living At Its Finest, Fabulous View, Open Concept Kitchen, Stainless Steel Appliances, Granite Countertops, Spacious Den, Walk-In Closet In Master, Floor To Ceiling Windows, Master Ensuite, 24Hr Concierge, Fantastic Amenities, Walking Distance To Everything, Shopping, Restaurants, Minutes To Yorkville, Financial / Entertainment District, Be In The Center Of It All!

Stainless Steel Fridge, Stove, Microwave, Dishwasher. Washer / Dryer, All Existing Electrical Fixtures. Indoor Pool / Jacuzzi, Exercise Room.

761 Bay St # 2104

Casy Ragan

TORONTO'S CONDO SPECIALIST

www.TheCondoLife.com

Bank of Canada unlikely to raise rates till 2011?

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Mon, 12 Oct 2009 06:25:29 -0500

Here are some insights on the direction of interest rates in Canada, in the upcoming years.

By The Canadian Press

CIBC: muted growth means Bank of Canada unlikely to raise rates till 2011

TORONTO - The Bank of Canada is unlikely to hike interest rates until 2011 because the lingering effects of the global economic meltdown will continue to mute both growth and inflation, according to a report issued Tuesday by CIBC World Markets.

"While the 2009 recession may already be over, the slack it created is both large and likely to persist," said CIBC chief economist Avery Shenfeld.

"Unlike the Bank of Canada, we don't expect growth to average above the non-inflationary potential until 2011," Shenfeld added.

"But even under (Bank of Canada) Governor (Mark) Carney's more optimistic trajectory, inflation will still be feeling the downward pressure of a sizable output gap next year, one as large as we saw in the early 1980s and 1990s downturns."

He predicted both headline and core prices would cross paths in the second quarter of 2010, at a level well under the Bank of Canada's two per cent target.

"As a result, Canada's inflation rate will be no threat to the bank easily fulfilling its pledge to keep interest rates at a slim quarter point through mid-2010," he said. "In fact, market expectations for rate hikes in the first half of 2010 could be a full year too premature."

While the core inflation rate did not decelerate as much as the Bank of Canada predicted earlier this year, there are reasons to expect a further easing in core inflation ahead, Shenfeld said, including "what economists call the income effect."

Shenfeld notes that by stripping out volatile items from the CPI, the Bank of Canada's core measure now excludes most of the items that have been deflating.

With the volatile measures included, headline CPI is negative, largely driven by the dive in gasoline prices from a year ago. Lower gas prices have pulled down costs for intercity transportation fares as well, which the Bank of Canada also excludes from core inflation. Other non-core items such as natural gas, fuel oil and mortgage interest costs have also eased off.

"The deep dive in non-core items has left those Canadians still working with some spending power," Shenfeld said in explaining the income effect.

"While nominal wages have begun to decelerate in a slack labour market, a negative year-on-year inflation rate has meant that in real terms, the buying power of the average wage has escalated."

"So after filling their gas tank and paying their new, lower, mortgage bills, Canadians simply have more money in their pockets when they go shopping for other items, keeping those prices aloft."

Shenfeld notes that economic slack usually takes time to exert its dis-inflationary force and believes the upward pressure on prices will ease in the coming months.

Meanwhile, less benign headline inflation expected next year "implies diminished buying power for other goods, contributing to a cooling in core CPI."

"With a lag, a strong Canadian dollar will also provide a dampening impact on retail prices for imported goods and services."

Meanwhile, unlike the central bank's outlook, the CIBC report does not see the Canadian economy gaining much benefit from a forecasted U.S. recovery.

CIBC's analysis finds that protectionist trade barriers and a tilt in U.S. stimulus spending towards industries that have less-than-average propensities to import from Canada, will dampen the benefits that this country typically sees from economic growth south of the border.

Casey Ragan

TORONTO'S CONDO SPECIALIST

www.TheCondoLife.com

"Just Listed" Penthouse Suite in St. Lawrence Market

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Sat, 26 Sep 2009 10:37:37 -0500

Corner Penthouse Suite In St Lawrence Market, Park/Lake Views, Walking Distance To Distillery District, Restaurants, Shopping, Starbucks, Minutes To Financial District, Harbourfront, Easy Access To Ttc, Gardiner, Dvp, Upgraded Appliances, Flooring & Bathroom, 9'Celings, Floor-Ceiling Windows, Hunter Douglas Blinds.

Fridge, Stove, Dishwasher, Microwave, Washer/Dryer, Window Blinds, Light Fixtures, Concierge, Indoor Pool, Sauna, Visitor Parking, Car Wash, Party Room, Library, Common Area Terrace On Floor

$289,900 - 65 Scadding Ave Ph27

Casey Ragan

TORONTO'S CONDO SPECIALST

www.TheCondoLife.com

Fall Market Predictions

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Fri, 21 Aug 2009 12:56:57 -0500

This spring and summer market has had a shortage of good listings for active buyers. The demand has been high and the supply has been low. All of the classic ingredients of a sellers' market.

The fall market is around the corner, and predictions have already been made.

The experts are predicting that the current market we are experiencing in Toronto will cool off in the upcoming months - prices will stabilize and we will get back to a better inventory supply.

So frustrated buyers, dealing with bidding wars, and lack of choice, will most likely be pleased with the road ahead.

Of course, these are just predictions and the market activity (listing / buying) in the fall, will tell all.

Casey Ragan

TORONTO'S CONDO SPECIALIST

www.TheCondoLife.com

LOVE IT, LIKE IT OR HATE IT TORONTONIANS MAKE THEIR VOTE COUNT

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Mon, 17 Aug 2009 06:34:02 -0500

THE WINNERS OF THE 5th ANNUAL PUG AWARDS ANNOUNCED

The fifth annual Pug Awards invited Torontonians to vote online from May 1st to May 31st this year for 24 new residential developments. The eligible buildings must have been
completed in 2008, be located in the city of Toronto, have an area greater than
50,000 sq. ft., or be considered noteworthy by the Pug Awards Advisory Board.

"For the fifth consecutive year, the people of Toronto have embraced the Pug
Awards as a platform from which to voice their opinions, thereby heightening the
awareness of urban planning and architecture in our city says Anna Simone co-
founder of the Pug Awards and a principal at interior design firm Cecconi Simone.
As developers, architects and designers, we can only benefit from this feedback as a
guide to improve future developments."

The big winner was One St. Thomas as the best new building in the residential
category. One St. Thomas was designed by New Yorkís Robert A.M. Stern Architects in
conjunction with Young + Wright Architects and was developed by St. Thomas
Developments in association with the Lee Development Group. The development at
1 St. Thomas Street is a 29 storey stepped, point tower in downtown Toronto.

Honourable mentions went to Quantum 2 at MintoMidtown followed by Kilgour Estates.

The complete voting results for all the buildings nominated are as follows:

Residential
Rank Project Name
1 One St. Thomas
2 Quantum 2 ñ North Tower
3 Kilgour Estates
4 Dia
5 West One
6 The Gallery
7 College Park 2
8 Garment Factory Lofts
9 Regency Yorkville
10 The Clairmont
11 High Park Lofts
12 Loggia 1 & 2
13 Verve
14 Meridian Residences
15 Mosaic
16 One Sherway ñ Phase 1
17 9T6 Condominiums
18 Panache Condominiums
19 Kingswood on Bloor
20 C-Condominiums
21 Nuvo 2 at Essex
22 Mansions of Humberwood 2
23 Skyscape
24 Hampton Plaza

The annual Pug Awards (formerly known as the Pugly Awards) were launched in
2004 and celebrate the best in Toronto architecture and planning. Founded by Anna
Simone, principal of design firm Cecconi Simone, and Gary Berman, managing
director of real estate financier Tricon Capital Group, the awards invite the public to
vote on the best, the mediocre and worst of Torontoís newest real estate
developments. The goal is to inform the public about design excellence and
ultimately contribute to the growth and prosperity of Toronto.

Casey Ragan

TORONTO'S CONDO SPECIALIST

www.TheCondoLIfe.com

Resale Record in July

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Sat, 08 Aug 2009 09:19:57 -0500

As in June, the Toronto Real Estate Board is reporting another record setting month.

See the below excerpt from this month's Market Watch just released:

In July 2009, Greater Toronto REALTORS® reported a record 9,967 sales, up 28 per cent from July 2008. The average price for July transactions was $395,414 - up by six per cent compared to the same month last year.

"Households confident in their positioning within the current economic environment have taken advantage of housing affordability in the GTA," said TREB President Tom Lebour. "The real estate sector has been one of the sectors making a positive contribution to economic growth in the GTA, not to mention Ontario and Canada more broadly."

"The steep drop-off in sales experienced at the beginning of the year has all but dissipated," explained Jason Mercer, TREB's Senior Manager of Market Analysis. "With five months left to go in the year, it is probable that total existing home sales in 2009 will be at or above last year's level."

Casey Ragan

TORONTO'S CONDO SPECIALIST

www.TheCondoLife.com

Best June on Record!

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Mon, 06 Jul 2009 08:26:24 -0500

In June 2009, Greater Toronto REALTORS® reported a record 10,955 sales, up 27 per cent from June 2008. The seasonally adjusted annual rate of sales in June was 100,700.

"The record result in June is testament to the fundamentally sound housing market in the GTA," said TREB President Tom Lebour. "An increasing number of households have been confident in purchasing a home in the region's affordable and diverse resale housing market."

The average price for June transactions was $403,972 - up by two per cent compared to the same month last year.

"The re-emergence of seller's market conditions has exerted upward pressure on home prices," explained Jason Mercer, TREB's Senior Manager of Market Analysis. "Look for sales to remain high relative to listings in the second half of the year. This will keep home prices growing."

Courtesy of the Toronto Real Estate Board - July 6, 2009

Casey Ragan

TORONTO'S CONDO SPECIALIST

www.TheCondoLife.com

Market Still Booming Past Spring

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Wed, 01 Jul 2009 10:00:11 -0500

I can always tell when a sellers' market is upon us. When a condo has just been put on the market, and that same day I'm lining up in the hallway with my clients, along with other agents and their clients, trying to get in to show the unit. Multiple offers, buyers bidding irrationally, and negotiations are becoming more infrequent. A tough market for buyers, but the sellers are now back in the game. Consumer confidence is back up, and it looks like it's going to be a busy Summer for me. Usually in the Summer, the market tends to cool a little, but it is showing no signs of slowing down, as we go into July. A very good sign of a healthy market.

Casey Ragan

TORONTO'S CONDO SPECIALIST

www.TheCondoLife.com

Real Estate - The New Market Reality

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Wed, 24 Jun 2009 13:14:23 -0500

As stability returns to residential real estate markets across the country, buyers and sellers are breathing a sigh of relief. The carnage south of the border has failed to materialize in Canada and all indicators - economic and otherwise -- point to a housing market on the upswing.

Buyers who moved in the midst of uncertainty, ignoring warnings from doom and gloom forecasters, economists and naysayers, snapped up some of the best real estate deals this market has seen in years. By contrast, those who panicked and chose to sit it out on the sidelines are now facing rising interest rates and-in some markets-limited inventory levels.

With national resale housing market activity returning to pre-recession levels in May, it would seem that we've come through the worst of the financial meltdown, with the real estate correction nearing an end. The number of positive indicators is very encouraging. However, recovery is still underway, and there may still be some bumps along the road. Nevertheless, the buoyancy in the marketplace took economists by surprise. Just over half of all major markets reported an increase in unit sales in May over year-ago levels. Consumer confidence continues to strengthen across the board.

Casey Ragan

TORONTO'S CONDO SPECIALIST

www.TheCondoLife.com

Interest Rate Alert

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Mon, 01 Jun 2009 19:11:53 -0500

The trend setting 10 year bond which is used as benchmark for long term fixed interest rates has been rising in the last few weeks.

It has moved to a tipping point which will cause fixed term interest rates to rise. This may come as soon as today.

We may be seeing 5 year fixed rates of 4.00% sooner than later, still a great rate but why not save a little money?

Two things to consider ;

1 - If you haven't purchased yet and are sitting on the fence, get pre-approved to secure a rate

2 - This maybe the best time to convert variable rate mortgages to a fixed rate; especially if the pricing is Prime PLUS.

Casey Ragan

TORONTO'S CONDO SPECIALIST

www.TheCondoLife.com

Sellers' Market on the Horizon

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Sun, 10 May 2009 07:55:38 -0500

Properties are now selling under two weeks, some within two days, multiple offers, properties selling over asking. All signs leaning towards a sellers' market in Toronto. With sellers pricing their properties correctly, and a growing demand for properties under $500,000, the Toronto real estate market is really heating up.

In my opinion, we are no longer in a buyers' market. I would say the current market is balanced, but it is starting to shift in the sellers' favour. Obviously this has a lot to do with the neighbourhoods I sell in, but the Spring market is showing lots of activity across the board.

I would make the recommendation to all first time buyers, and those looking to trade-up, take advantage of current low interest rates, and properties that are priced to sell.

Casey Ragan

TORONTO'S CONDO SPECIALIST

www.TheCondoLife.com

Toronto's Real Estate Market On The Up-Swing

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Wed, 25 Mar 2009 15:20:42 -0500

I have been noticing a definite up-swing in the market. Listings are selling faster, and I'm evening seeing multiple offers.

This spring market has shown a drastic improvement from the end of 2008, and I believe might be shifting in the sellers' favour.

I believe a lot of has to do with the media reporting increased property values in the U.S., along with the American banks clearing some of their "toxic assets" of their balance sheets (credit card and mortgage loans that have gone into default). The DOW Index has shown a recent spike, along with an increase (3+%) in spending of large ticket items in American homes (i.e. appliances).

I believe President Obama has been doing a great job in reassuring the American people that the economy is turning around, and it is ok to spend and put money back into the economy.

I'm speaking so much about the U.S. economy, because so many Canadians watch CNN, and believe that the U.S. and Canadian economy is so tightly interwoven, even though I believe it isn't. Unfortunately, public perception is so important when it comes to consumer confidence. The media has a very strong, influential power when it comes to spending.

The real estate market here in Toronto is very healthy, and statistics will confirm this in April.

Casey Ragan

TORONTO'S CONDO SPECIALIST

www.TheCondoLife.com

TREB Reported 4,120 Resale Housing Transactions in February

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Sun, 08 Mar 2009 12:08:45 -0500

Toronto Real Estate Board Members reported 4,120 sales in February 2009 compared to 6,015 sales recorded in February 2008. The average home price was $361,305 last month compared to $382,048 during the same month last year.

"A considerable number of transactions continued to take place in February 2009. Motivated buyers and sellers, who were aware that market conditions changed over the past few months, were able to negotiate transactions acceptable to both parties," said Toronto Real Estate Board President Maureen O'Neill.

On a month-over-month basis, sales and average price were above January levels of 2,670 and $343,632 respectively. The housing market is seasonal. Traditionally, in the first half of every year, sales and average price climb to their highest levels in late spring before trending lower from July onward.

"While the economic downturn has had an impact, the GTA housing market is resting on a solid foundation. Current home prices and mortgage rates suggest that GTA homes have become more affordable on average," according to Jason Mercer, TREB's Senior Manager of Market Analysis. "A greater number of home buyers could take advantage of this affordability once their positioning in the economy becomes more certain."

Typically the spring real estate market tends to experience more activity and with the Canadian economy experiencing a period of low mortgage rates and strong immigration, this trend could continue. According to Statistics Canada, Canada welcomed 247,202 permanent residents in 2008, 70,000 more than in 1998, and well within the government's planned range of 240,000 to 265,000 new permanent residents for 2009.

The TREB President pointed out that Greater Toronto REALTORS® are an integral part of the real estate transaction process. "TREB Members are uniquely positioned to help home buyers and sellers adapt to changing market conditions," added Ms. O'Neill. "In addition, TREB continues to advocate public policies that do not threaten affordability but support home ownership in the GTA such as lower taxation and less regulation."

Median Price

The median price in February was $312,900 from the $324,000 recorded during February of 2008.

Casey Ragan TORONTO'S CONDO SPECIALIST

For more Toronto real estate news visit www.TheCondoLife.com.

Bank Credit is Flowing to Canadians

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Tue, 24 Feb 2009 20:14:03 -0600

In his February 19 Toronto Star opinion-editorial piece, TD Chief Economist Don Drummond tackles four prevailing myths about Canadian banks.

Chances are, you've heard one or more of the following statements over the past few months:

· Canadian banks aren't lending;

· Banks are hoarding cash;

· Banks have been bailed out with taxpayers' money and

• the Pursuit of bank profits is a detriment to the economy.

If you subscribe to the idea that there's a grain of truth in every myth, Don Drummond offers an explanation for how these perceptions turn to beliefs, along with a rebuttal fit for any dinner table conversation.

"When something is said often enough, it has a way of becoming an accepted fact. My intent with this article was to set the record straight on a number of issues currently being raised regarding Canadian banks," says Drummond.

Doom and gloom about the economy has been saturating the media for the better part of a year now, while any positive stories about how the Canadian system is different always seem to take a back seat. Insightful economic pieces like this one are useful backgrounders for any conversation; whether it's with your spouse, your next-door neighbour, or a customer.

As Barack Obama stated last week during his visit to Ottawa, "I think Canada has shown itself to be a pretty good manager of the financial system in the economy in ways that we haven't always been here in the US. Its possible for us too to have a vibrant banking sector without taking some of the wild risks that have resulted in so much trouble on Wall Street." (CBC The National News interview)

Casey Ragan

TORONTO'S CONDO SPECIALIST

www.TheCondoLife.com

Prices Going Up In Toronto

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Fri, 20 Feb 2009 19:21:35 -0600

I think I should share the recent statistics, that were recently presented to me by my Broker. In January 2008, the average sale price for our Brokerage's listings was $387,000. The average sale price this January was $412,000. Even though the media will have you believe that prices are still down, you can see that is not the case.

This statistic is important, as my Brokerage, RE/MAX Hallmark Realty Ltd. has completed the most transactions in Toronto in the past few years. I believe that gives this statistic credibility.

So don't believe everything you see on TV or read in the newspaper. GTA averages aren't a true representation of the real estate market in Toronto.

Casey Ragan TORONTO'S CONDO SPECIALIST www.TheCondoLIfe.com

Overcoming Buyer Reluctance

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Thu, 29 Jan 2009 02:49:34 -0600

This is a good article on how buyers should think in a buyer's market.

Here's an excerpt from Gary Keller's new book:

"A buyers' market should be just that-a buyers' market. It's not a fence-sitting, waiting, loitering, delaying, dawdling, postponing, vacillating, hesitating, wavering, faltering, pausing, foot-shuffling market. It's a buyers' market. By its very name it means buyers should be doing one thing and one thing only-buying. So where are the buyers, and why aren't they buying?

The great irony of a buyers' market is that even though the opportunity to buy is high, buyer urgency tends to hit an all-time low. The media becomes the excited purveyor of negative news and uninformed advice, and buyers buy it all. Actually, it feels like the only thing they're buying.

Their reluctance is ironic since not so long ago buyers were incredibly excited about buying-and it was a sellers' market. Prices were escalating and it was perhaps one of the most difficult times to buy value and yet people were buying like there was no tomorrow. Buyers were afraid of losing out by not buying, even though the advantage was all to the seller.

Now a shift has occurred. Fear is still in the driver's seat but the tables are turned-the fear of paying too much seems to stop most in their tracks and immobilizes them. When they should have been afraid of paying too much they weren't, and now that they shouldn't be afraid of paying too much they are.

It's one of the great paradoxical moments of any market and the herd instinct at its most pure. Reluctance in the face of great opportunity becomes an agonizingly defining characteristic of a shift.

There are two types of buyers-those who believe they can time the market and those who are always in the market and believe timing will find them. History supports the latter-it says that if you're always actively paying attention, although you may never sell at the peak or buy at the bottom, you can buy right and always do well over time.

Logic says that you can't predictably time the market to be able to buy at the absolute bottom and sell at the absolute top.

A simple technique to prove to that buyers (or sellers) can't perfectly time the market, is to do this easy demonstration: Take out a blank sheet of paper and pen. Now, starting at the top of the paper, draw a line going down and at the same time ask the buyers to stop you when the market has bottomed out.

As long as your line keeps going straight down they won't be able to. The moment you start back up, they'll say "there!" but of course they missed the bottom. Now, keep drawing your line up while asking them to tell you when the market has peaked. Again, they won't be able to tell you until you've rounded the top and started back down. Then they'll say "there!" and once again they'll be behind the peak.

This should be a moment of truth for them. Buyers cannot perfectly time a market-no one can. The smartest people know this. They play in the safe zone. The safe zone is where smart people plan to buy and sell. Anyone who buys at the top of a market is just unlucky and anyone who buys at the bottom of a market is just lucky.

People who buy in a buyers' market are the smart ones. They aren't looking for a killing because they know that's a matter of luck, not planning. They're looking for a sound decision with a predictable result and, therefore, ask the question: "Has the market dropped enough now to make a sensible purchase?" More often than not, when they're asking this question, they're already in the safe zone and the answer is yes.

Once the market settles or shows any sign of improvement, opportunities start slipping away. The very moment sellers no longer have to make concessions, they won't. And, since there is almost always group think at play with all of the waiting buyers, the pent-up demand will show back up and buyers may be faced with mounting competition for the best homes available.

Buyers who choose to wait until prices come down more are also gambling that interest rates will hold steady or drop. What is not widely understood is the impact interest rates can have on the real monthly costs of home ownership. Even a 10 percent drop in home prices is immediately nullified by a mere 1 percentage point increase in interest rates on a 30-year mortgage loan.

Falling home prices are a great opportunity for move up buyers. Even though your home sale price may be lower, the smaller loss at sale can be compensated by greater savings at purchase. If home prices dropped by 5 percent, here's what it could look like if you decided to trade up:

Old home price = $200,000

Sell at $190,000 = $10,000 less

New home price = $400,000

Buy at $380,000 = $20,000 savings"

By Gary Keller and Dave Jenks and Jay Papasan | January 2009

For more Toronto real estate news and advice, visit www.TheCondoLife.com.

Buy Toronto Real Estate Now!!

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Sun, 25 Jan 2009 08:00:16 -0600

All of the senior agents I speak with (which have experienced the ups and downs of our markets over the past 30 years) and the recent CMHC market forecast I recently attended, all strongly believe that for the next 6 months buyers should take advantage of our current market.

They don't see the market staying the way it is, as in past recessions. Previous real estate recessions had elements in it which we do not have. Higher interest rates, higher unemployment and higher inflation to name a few. This market is different. When the market turns around, prices will increase, and mortgage interest rates will increase. This slower market will be short lived.

For the first half of 2009 buyers will have an incredible real estate window in front of them. An amazing opportunity to purchase attractively priced properties than in past years, incredibly low mortgage interest rates, an abundance of mortgage money for qualified buyers is right in front of us.

Now is the time to buy a property, to move up, to add to our real estate investment portfolio's or to begin one. Homeowners who are able to use equity from their homes should consider buying an investment property of some sort. Clients who purchased properties in the early 2000's and who need a bigger family home should do it now.

The real estate opportunities of the next few months are too good to let go by. The "Window of Opportunity" in our present Toronto Real Estate market should be taken advantage of.

Real Estate is always a great investment, and now is the best time in years to buy.

Casey Ragan TORONTO'S CONDO SPECIALIST www.TheCondoLife.com

Toronto's Winterlicious - Now in it's seventh delicious year

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Sun, 18 Jan 2009 07:56:27 -0600

Toronto's Winterlicious 2009, runs from January 30 - February 12. The wildly popular prix-fixe menu promotion, also includes cool culinary events, cooking classes and more guilty pleasures. There are 150 participating restaurants, at affordable prices. Reservations start today. Bon appétit!!

http://www.toronto.com/winterlicious

www.toronto.ca/special_events/wintercity/winterlicious.htm

"TORONTO'S CONDO SPECIALIST" Casey Ragan www.TheCondoLife.com

No Line-ups For Me! (Great Article By Ken McLachlan)

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Thu, 25 Dec 2008 07:22:42 -0600

I just read a great article from my Broker/Owner of RE/MAX Hallmark Realty, that sums up our current market perfectly.

"BUY when most are selling and SELL when most are buying.

Simple words to live our financial lives by. In spite of being familiar with these words, many people get caught up in the frenzy of a group with their actions. Years ago I recall my first experience with group dynamics when buying a commodity. In this memory, it was GOLD. In the early 80's I remember seeing people lining up on Bloor Street in downtown Toronto to purchase GOLD. As I recall - the price of GOLD was going through the roof and the masses (hyped up by the press and others) were anxious to get in on the action before the price got too high. Sensing a great financial opportunity to make some money by speculating or trading on the price of GOLD, people who never had traded were now lined up to pay money for the opportunity. You guessed it, soon after observing the lineup the bottom fell out of the GOLD market and thousands were left with worth less trinkets and their memories.

Earlier this year I recall another group queue on Bloor Street. This time it wasn't GOLD people were queuing up for, but expensive (per sq foot) condos soon to be built in a prime Toronto location. I wasn't involved but I was told Realtors were actually paying surrogates $1,500. to secure a spot in line for them. Many spent several nights waiting for the opportunity to buy. Most I suppose, but can't say for sure, were buying in the hope of speculating on the rights to the units. This project, like many - wasn't scheduled to close for several years and for sure prices would be higher down the road was the group rallying cry.

I hate line ups of any sort - especially when I am lining up to hand over some of my money for a group traded commodity. When I see lineups it usually is a good indication to me that things are primed to go south for that product or service. Anytime speculators get involved, good things do not happen to the group. Which leads me to today's real estate market.

BUY when most people are not buying. That's today's real estate climate. People know that any long term investment in real estate will pay off for them. Why wait for the crowd to get back into the real estate action? There are fantastic opportunities to own great Toronto residences and investment properties today. Low mortgage rates, a good supply of product to choose from and lower prices all add up to a very good real estate environment.

And just think, you don't even need to line up."

Ken McLachlan, Broker/Owner RE/MAX Hallmark Realty Ltd.

So buyers, TAKE ADVANTAGE!!

For more valuable real estate information visit my website www.TheCondoLife.com.

Important Message

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Thu, 18 Dec 2008 16:10:40 -0600

If the cup of coffee you were drinking on Tuesday morning didn't wake you up, the headline on the front page of the Globe and Mail most surely did.

The headlines screamed "Housing sales hit 20-year low as real estate slump widens" followed by huge sub-head noting an 11 per cent decline in prices and a 44 per cent drop in Ontario housing sales in large RED print, based on the December 15th press release issued by the Canadian Real Estate Association.

The only problem with the article is that it is incorrect. In the third paragraph, the author writes "Between May and November, the average price of an existing home in Canada fell by 11 per cent, matching the drop in 1990 that coincided with the onset of a painful recession. Housing prices would go on to fall about 20 per cent and it would be another decade before they managed to make new highs."

Unfortunately for the Globe, there was no 20 per cent drop. According to the Canadian Real Estate Association, the Canadian average price actually rose approximately 15 per cent from 1990 to 2000. There were three moderate dips in housing values in the decade - 1990 (3.4 per cent), 1995 (4.6 per cent), and 1998 (1.5 per cent). Average price in Canada has climbed consistently since 1998. It's also important to note that the decline in national housing values have typically been modest and have bounced back almost immediately. Finally there are no two consecutive years of falling prices.

While the national housing picture has been a picture of stability, average housing values in Ontario have seen slightly more volatility over the past 27 years. There have been six decreases in average price noted - with five of the six occurring between 1990 and 1996. Prices fell 17 per cent during that time frame, after climbing a phenomenal 70 per cent between 1986 to 1989 ($107,158 to $182,186). Residential average price has been on an upward trajectory since 1996 - the longest uninterrupted period of growth since 1980.

Based on our comments, the Globe and Mail has printed a correction in this morning‘s newspaper, page A2

So now that the folks at the Globe have been straightened out, we shift our focus to the challenges today's economic realities are bringing to the housing market. Truth be told, there is not a sector - not even gold - that has not been hard hit by economic turmoil in recent months. Real estate has held up remarkably well, in light of current market realities. We need to see some economic stability - and a recovery in consumer confidence levels - before we can expect housing markets to rebound. Job security will be key.

Inventory will also play an important role. If inventory levels subside, we could see stability return to housing values. To illustrate, new listings fell seven per cent in the Greater Toronto Area in November. If this trend continues, and existing inventory is absorbed, housing values may remain relatively stable in the year ahead.

I'd like to conclude today's communication with the story of a hot dog vendor in Chicago who sold the very best hot dogs by the side of the road. His business was booming, people loved his hot dogs, and his business steadily increases month after month. The man loved his business and believed in the need to provide great food at a great price.

This man was so busy advertising and selling his hot dogs and making lots of money, that he didn't even have time to read the newspaper or listen to the radio. Consequently, he never heard a word about a predicted recession or the need to cut back to save for the potential economic slowdown. As long as he continued to offer his delicious hot dogs, his customers bought them. He kept selling, and they kept buying.

Then one day his college educated son told him that an economic recession was surely coming. His son told him that people wouldn't have enough money to buy his hot dogs. The successful hot dog vendor believed this, so on his son's advice, he cut back on his advertising. Additionally, he started ordering less supplies and product, because after all, people would be cutting back soon.

He even went so far as to take down many of the billboards that lead to his roadside stand. And sure enough, people stopped coming to him. People stopped buying his hot dogs, and he eventually went broke.

Then he thought to himself. "How smart my son is in predicting this."

Don't be influenced by what you read in the newspapers or hear on your television. It's true that market conditions have changed, but human nature has not. Real estate is one of the largest investments people will make in their lifetime. It's also one of the safest. Get out and spread the word. If you bought a home in 1980 worth $67,000, that property is valued at over $300,000 today - an increase of 350 per cent and the profit is capital gains exempt. It's no wonder that Canada has one of the highest homeownership rates in the world, at close to 70 per cent.

No matter what the investment community will tell you, you can't live in your mutual fund.

For more real estate market information visit my resource centre at www.TheCondoLife.com.

The Current Market, and Why It Is So Good

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Mon, 15 Dec 2008 12:22:13 -0600

I see great opportunity in today's market for buyers and sellers (looking to trade-up). I think that the negativity presented by the media is clouding the judgment of buyers, investors, and sellers moving-up to better properties.

It is true that sellers were getting a greater return in 2007, but at the same time, were paying more on the buyer's side.

Due to super low mortgage rates (lowest in recent history), buyers and sellers (looking to trade-up to a better property) are experiencing the best market in over 10 years.

Investors and buyers dream of the current market conditions, so why all of the negativity? Take advantage of the current market, as it might not be this way until 2019!

For more market information go to my Resource Centre at www.TheCondoLife.com.

Great Article!!!

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Fri, 05 Dec 2008 11:52:09 -0600

This is an article from Globe and Mail website by Madelaine Drohan. This is a great read and very positive!!!

Madelaine Drohan has covered business and politics in Canada, Europe and Africa in the last 30 years. Twelve of those years were spent at The Globe and Mail, first as a business reporter, then European correspondent and finally economics columnist. She is currently the Ottawa correspondent for The Economist and also writes for the Economist Intelligence Unit.

Crisis? What crisis?

MADELAINE DROHAN

Globe and Mail Update

December 4, 2008 at 12:32 PM EST

OTTAWA - Canada may be in a political crisis, but it is not in an economic one. Why do so many people prefer to believe that we are?

In the rancorous debate in the House of Commons last Tuesday, the words "economic crisis" were uttered 51 times by members of all political stripes as they wrestled for control of the country. On Bay Street and Main Street there is constant talk of economic meltdown and frequent references to the Great Depression as if we are poised on the brink of a similar precipice.

The facts don't back this up. There are trouble spots, certainly, especially in the North American auto industry and the forestry sector, both of which were already in decline long before banks started toppling on Wall Street. And there is no denying that the U.S. economy is in bad shape, which will eventually have some as yet undefined impact here.

But the latest figures show the Canadian economy was still growing through the end of September, unemployment remains low and most forecasters are calling for a modest contraction next year, which while unpleasant is hardly a nightmare scenario.

Clearly there is something to be gained from saying we are in a crisis, even if we aren't.

The political motivation is easiest to identify. The Liberals, New Democrats and Bloc Québécois could hardly say they wanted to topple the Harper government because it intended to cut their funding. That would look too self-serving to voters. Blaming the government for not reacting to a non-existent crisis is a much easier sell.

The Conservatives, meanwhile, started out dealing with the facts, insisting that the current situation did not call for extraordinary measures. This message was somewhat spoiled when they also tried to argue that hard times called for partisan cuts. By mid-week they'd given up all pretence of defending reality and were invoking the non-existent crisis as a reason that the country needed the stability only they could provide.

The only consensus among the warring politicians was on the supposedly dire state of the economy. There was a competition to outdo each other in misleading and irresponsible statements about where the economy was heading.

John F. Kennedy, the late U.S. president, once said that the Chinese character for crisis had two elements - danger and opportunity. It is the latter that explains why many companies and indeed whole sectors are backing the crisis theory now.

The banks were in there early, calling for extraordinary government aid because of the impact on Canada of the global economic crisis. The Harper government is in the process of borrowing $75-billion dollars, ratcheting up interest-bearing debt in the process, in order to buy mortgages from the banks. Somehow this generous gesture on the part of Canadian taxpayers, who might well have wanted to spend the borrowed money on other things, has slipped below the radar.

The North American car makers also have their hands out, claiming they need help to survive the crisis, even though it has been clear for some time that they were in deep trouble of their own making. "Help us out of the hole we dug," is not a winning argument when it comes to prying loose government money. So the crisis is invoked yet again, in both the U.S. and Canada.

The car makers are far from the only ones who gain from a crisis atmosphere. All those infrastructure projects that the federal and provincial governments have vowed to speed up mean extra work for engineering firms, designers, suppliers and builders. Who among them would dare mention at this delicate juncture that things really aren't that bad?

Then there are the media. Alarmist headlines and stories are so much more fun to publish or broadcast, regardless whether they reflect the facts. Bad news sells, is the maxim. Journalists don't like to think that they are selling a product, but their corporate owners are keenly focused on the bottom line.

That may not mean there is overt pressure to consciously slant coverage towards the negative. But every journalist worth his or her salt knows subconsciously that a crisis story is more likely to hit the front page or lead the broadcast than some namby-pamby item about things going better than expected.

This deluge of bad news and catastrophic predictions eventually seeps into the public consciousness, frightening people into spending less and saving more, thus helping to create a real crisis. That said, it was heartening to see an Ipsos-Reid poll this week in which 56 per cent of respondents said they thought doomsday predictions of severe recession in Canada were exaggerations.

There is still common sense to be found in Canada, just not among our political, business or opinion leaders.

For more market information, check out my Resource Centre on my website www.TheCondoLife.com.

The Benefits of Living in a Condo, Across North America

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Sat, 22 Nov 2008 08:28:01 -0600

I'm part of a network of Condo Experts, North America wide. If you are interested in what other experts have to say about condo life, and its benefits, across Canada and the U.S., check out www.condobenefits.com.

For Toronto condo news, listings and other valuable information go to my site www.TheCondoLife.com.

The Benefits of Living in a Condo, Across North America

Casey Ragan (RE/MAX Hallmark Realty Ltd.) — Sat, 22 Nov 2008 08:15:01 -0600

For Toronto condo news, listings and other valuable information go to my site www.TheCondoLife.com.