toronto real estate: Toronto real estate. Toronto existing home market slows in August - 08/24/10 09:31 AM
As the Canadian real estate market continues to move from a hot seller's market to more balanced conditions, agents are finding it harder to reconcile the expectations of buyers and sellers.
This in-between kind of period where people seem to be waiting to see what will happen.
Toronto existing home sales fell by 29 per cent in the first two weeks of August compared with the same time last year.
The Toronto Real Estate Board reported 2,732 sales in the first half of the month according to a report released Tuesday.
Buyers are most concerned about the potential for prices to … (0 comments)

toronto real estate: Toronto real estate. MORTGAGE AND HOUSE SHOPPING TIPS - 07/28/10 10:11 AM
1. Know your current lifestyle costs. Running a home is no different than a business, and understanding expenses is non-negotiable. So, study your bills and bank statements and figure out what it really costs you to live now, pre-mortgage.
2. An illness, job loss or any number of troubles can quickly erode your finances. So in today's slow economy, put aside - and keep - a comfortable six months' worth of living expenses.
3. Know your float factor. This is the equivalent of executive risk, vis-à-vis real life. That mortgage may be affordable now when you're floating, but if interest rates … (1 comments)

toronto real estate: MAY 2010 RESALE HOUSING STATISTICS - 05/30/10 03:16 PM
Greater Toronto REALTORS® reported 4,887 sales through the Multiple Listing Service® (MLS®) during the first two weeks of May.
This represented a seven per cent increase compared to the 4,561 sales recorded during the same period in 2009. New listings increased by 48 per cent annually to 10,059.
"The average household looking to purchase a home continued to benefit from affordable opportunities in the first half of May," said Toronto Real Estate Board President Tom Lebour.
"The number of done deals will remain high for the remainder of 2010, but will dip from record levels."
The average price for May mid-month … (0 comments)

toronto real estate: Bank of Canada keeps rates the same...again - 01/25/10 11:48 AM
Once again, the Bank of Canada announced it would keep the key interest rate at a record-low 0.25 per cent to achieve its inflation target of two per cent.
While the Bank said economic growth in Canada resumed in the third quarter of 2009 and there has been a slightly higher than expected rate of inflation in recent months, it reiterated that the economy is still lagging, particularly due to factors like a strong Canadian dollar and low levels of U.S. demand.
Repeating many of the same projections as its October monetary policy report, the Bank predicted the economy to return … (0 comments)

toronto real estate: Toronto mortgage. Bank of Canada leaves rates unchanged at 0.25% - 10/26/09 08:59 AM
The Bank of Canada kept its overnight rate target at 0.25% and repeated its conditional commitment to keep it there until the end of the second quarter of 2010.
"Global economic and financial developments have been somewhat more favourable than expected at the time of the July Monetary Policy Report (MPR), although significant fragilities remain," the BOC said.
The Canadian dollar fell against its U.S. counterpart after the announcement. One U.S. dollar fetched CAD$1.0368, up 0.8%.
The bank also said growth is expected to be slightly higher in the second half of this year than previously projected, but to average slightly … (0 comments)

toronto real estate: TO BUY OR NOT TO BUY?!! - 09/22/09 10:20 AM
      Is now a good time to buy? On the one hand you have very low mortgage rates as the Bank of Canada (Canada Realty News reports) had cut the interest rate several times in the last few months to try and get the banks lending again. Property prices have dropped in the last year and there are many good deals to be made.
      On the other hand, there is still the question whether housing market prices will hold or drop further. Potential buyers are wary about taking on such a huge borrowing to find that the dream house they have just … (0 comments)

toronto real estate: Toronto real estate. How To Raise Your Credit Score - 04/20/09 08:53 AM
35%            Your Payment History                                    Pay your bills on time.  Automating payments on-line can help
30%            How Much You Owe
                                                Keep credit card and line of credit balances below 50% of the credit limit
15%            Length of Your Credit HistoryMinimum 2 years credit history.  Rather than let old credit cards go dormant, charge a little each month and paid it off.
10%            Your New CreditDon't open unnecessary new accounts.  And if you are rate shopping for a mortgage or loan, do it within a 2-week period. 
Multiple enquires could lower your score.10%            Your Mix of Loans
You can't do much to … (0 comments)

toronto real estate: Toronto real estate. Mortgage tips - 03/09/09 08:43 AM
The key to a successful mortgage experience is carefully considering all your options and buying within your means so that you can sustain your payments. Borrowers unsure of which approach is best can fall back on certain time-tested strategies for ensuring they don't overextend.
 Here are a few tip to boost affordability when arranging your mortgage:
 1. Know what you can afford.  A mortgage pre-approval helps you establish a price range and the maximum mortgage you can reasonably afford.  Most lenders will lock-in a rate for up to 120 days when pre-approving potential borrowers for a mortgage.
2. Revisit your current … (0 comments)

toronto real estate: Toronto real estate. Mortgage news - 02/26/09 02:20 PM
2009 has started off on the right foot. We have a new federal budget from the ministry of finance that have left most of us a little less concerned with the housing market. Now, first time home buyers in Canada are able to withdraw $25,000.00 from their RRSPs to make a down payment - previously $20,000.00. In addition, existing home owners can receive a tax break of up to $1,350.00 for renovating their current home.
What else can I say about the housing market other than what goes up, must come down and go back up again! The rise and fall … (0 comments)

toronto real estate: Toronto real estate. CANADA'S MARKET IS NOT IN RECESSION - 02/17/08 10:05 AM
Contrary to the turmoil in the US mortgage markets, the Canadian mortgage and housing markets are in goodshape. Homebuyers and other industry consumers should not worry about similar meltdowns occurring in the Canadian mortgage market, according to MortgageBrokers.com, Canada's only publicly traded mortgage brokerage firm."The Canadian mortgage and housing markets have had their challenges, but we firmly believe that these markets operate on a solid foundation versus current U.S. conditions," says Alex Haditaghi, CEO ofMortgageBrokers.com.Recent articles, commentaries and news about the potential of what has happened in the U.S. sub-prime mortgage industry extending into Canada has certainly had a negative psychological … (0 comments)

toronto real estate: Bank of Canada Rate Cut - 01/25/08 06:48 AM
The Bank of Canada cut interest rates for the second time in two months by 0.25% and strongly signalled that it may cut rates further noting that "further monetary stimulus is likely to be required in the near term". Despite speculation in the press that the banks may not match a rate cut, the major banks promptly lowered their prime rate by 25 basis points to 5.75%.
Toronto Star Analysts say further domestic rate relief is likely needed to shield Canada from the threat of U.S. recession. Premier Dalton McGuinty tried to bolster Ontarians' confidence, telling reporters that experts advising his government … (0 comments)

toronto real estate: Toronto real estate. TORONTO IS A CONDO CITY! - 11/23/07 02:27 PM
Toronto has solidified its spot as North America's largest condominium market, according to a report that says 259 projects are in the works in the city's census area.
Urbanation, one of the country's major condominium market research firms, says condo sales skyrocketed over the first nine months of 2007. There were 16,790, sales - more than all of 2005, which was a record year. Sales will likely reach 21,000 by the end of the year. By comparison, New York City usually records about 10,000 condo sales a year.
"This is the highest number we've ever tracked since we started in 1981," said Jane … (0 comments)

toronto real estate: Toronto real estate. BE AWARE - NEW LAND TRANSFER TAX IN TORONTO! - 10/26/07 12:33 PM
Real estate buyers and sellers looking to hold onto their last dollar may be rushing to buy or sell their home before the new land transfer tax comes into effect at the end of this year.
The controversial tax, passed in a 26-19 vote by city council on Monday night, will be collected on purchases that are signed after Dec. 31.
The tax affects 0.5 per cent on the first $55,000 of residential property values, one per cent on the next $345,000 and two per cent on more than $400,000. First-time buyers do not pay on the first $400,000.
Buyers trying to avoid paying … (1 comments)

toronto real estate: TORONTO REAL ESTATE. TORONTO and GTA HOUSES - 09/12/07 08:04 AM
Toronto and area is a city with 5 million people. However, Toronto is a clean and safe city. It is a cosmopolitan city with a wonderful network of parks, recreational, and cultural facilities. Toronto is the home of four professional sports teams (Maple Leafs, Raptors, Blue Jays, and the Argonauts) and the third largest English-speaking theatre district in the world, behind New York and London. One of the world's most ethnically diverse cities, it is home to more than 80 ethnic communities from Africa, Asia, and Europe. Toronto is also the business centre of Canada.
The City of Toronto has 277 million … (0 comments)

toronto real estate: Toronto real estate. YONGE STREET ROCKS! - 08/09/07 07:49 AM
Average detached home prices in north central Toronto, particularly along the Yonge Street corridor, nudged above the million-dollar mark in the first half of 2007, according to Toronto Real Estate Board.
The area - which encompasses such tony neighbourhoods as Forest Hill, Chaplin Estates, Deer Park and Cedarvale - saw average home prices increase by nearly 17 per cent, from $895,000 to $1,046,500, the largest such jump among 62 Toronto Real Estate Board districts. The increase could be attributed to the three Ls of real estate: location, location, location.
The demand is evident along Yonge Street from Bloor up to Hwy. 7. It's … (0 comments)

toronto real estate: Toronto real estate. HOME ENERGY EVALUATION SHOULD BE MANDATORY - 07/28/07 01:20 PM
Every Canadian home should have a mandatory energy evaluation before it can be put on the market, says a Toronto real-estate broker who is setting up a national green real-estate association.
"Within five years, we hope to have mandatory energy audits right across Canada on every resale home," said Elden Freeman, executive director of the non-profit National Association of Green Agents and Brokers, which has 15,000 members.
Freeman plans to join forces this fall with James Rodgers, executive director of B.C.'s Greener Realty Association, to help teach real-estate agents - about 88,000 in Canada - how to promote green homes and encourage homeowners … (0 comments)

toronto real estate: Toronto real estate. YARD AND GARDEN DURING SUMMER MONTHS - 07/20/07 11:55 AM
During the spring and summer months, many homeowners get their garden and yard work into full swing. This month, Pillar To Post takes a look at several steps that homeowners can take to make their outdoor spaces and their home live compatibly.
Be sure that the ground slopes away from the house all the way around the perimeter. This ensures that any moisture from rain, snowmelt, and sprinkler systems will be directed away from the foundation.
The base of shrubs and other plantings should be kept at least 2' away from the foundation to avoid potential problems with roots and drainage. In addition, … (0 comments)

toronto real estate: Toronto news. Toronto makes a big splash with solar energy - 07/06/07 02:44 PM
Today, the City of Toronto officially launchedthe heating of four indoor pools using solar energy. The solar pool heatingsystems are the largest municipally-owned installations in Canada, and areheating pools at three of the City's recreation centres.    At 312 metres squared (m2), the Jimmie Simpson Recreation Centre solarpool heating system is the largest in Canada (there are two pools at thislocation, each is serviced by its own system; the smaller solar system is 94m2). Scarborough Centennial Recreation Centre's solar heating system is 250 m2and the installation at the Agincourt Recreation Centre, where the day's eventwas held, is 241 m2.    "The City of … (0 comments)