real estate: 70% increase in sale of existing GTA homes in Mid March over same period last year - 03/17/10 08:36 AM
70% increase in sale of existing GTA homes in Mid March over same period last year
TORONTO, MARCH 17, 2010 - Greater Toronto REALTORS® reported 4,353 sales through the Multiple ListingService® (MLS®) during the first two weeks of March. This represented a 70 per cent increase compared to the 2,562 sales recorded during the same period in 2009 when resale transactions had dipped markedly due to the recession.  
To see the detailed report, please visit my blog at www.aceteamrealty.com/blog
 Want to know the Fair Market Value of your Home? Please go to www.MyGTAHomeValue.com for a quick complimentary evaluation.
Manoj Arora, Broker of Record
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real estate: Growing debt threatens economic stability: BOC - 12/16/09 05:00 AM
Growing debt threatens economic stability: BOC
With household debt-to-income ratios in Canada at historical highs, the Bank of Canada is warning both borrowers and financial institutions to practice caution, particularly when it comes to mortgage lending.
"Financial institutions need to carefully consider the aggregate risk to their entire portfolio of household exposures when evaluating even an insured mortgage, since a household defaulting on an insured mortgage would likely be unable to meet its other debt obligations," the central bank's financial system review said.
On the borrower side, the bank stressed the need for households to "assess their ability to service these … (0 comments)

real estate: Mid October Real Estate sales up 34% - 10/22/09 08:29 AM
Mid October Real Estate sales up 34% in Greater Toronto Area
In the first two weeks of October, Greater Toronto REALTORS® reported 3,631 sales - up 34 per cent compared to the first two weeks of October 2008. The average price for these transactions was up 17 per cent year-over year to $414,479. 
Read the complete details on my website blog at: www.AceTeamRealty.com/blog
Thinking of selling your Mississauga or Brampton real estate and want to know the market value of your home, log on to www.MyGTAHomeValue.com for a FREE computerized analysis of your home value.
Shopping for your dream home, log on to … (0 comments)

real estate: GTA REALTORS® Report August Mid-Month Resale Market Figures - 08/20/09 12:55 PM
TORONTO, August 18, 2009 - In the first two weeks of August, Greater Toronto REALTORS® reported 3,832 sales - up 27 per cent compared to the first two weeks of August 2008. The average price for these transactions was up three per cent year-over-year to $383,796.
Read more details on my blog at www.AceTeamRealty.com/blog
 
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real estate: We will get out of the recession by September this year.... - 07/23/09 07:17 AM
...... says Mark Carney, Governor of the Bank of Canada. Mr. Carney addressed a press conference following the release of the Monetary Policy Report this morning. As per Governor:
The Bank has long expected that economic growth in Canada would resume in the second half of this year and pick up in 2010. Indeed, growth in Canada should resume this quarter. The dynamics of the recovery projected in today's MPR are broadly consistent with the Bank's medium-term outlook in April. Read the complete Report at Bank of Canada Website at:
http://www.bank-banque-canada.ca/en/speeches/2009/state09-6.html
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real estate: GTA REALTORS® report sales up first two weeks of July - 07/20/09 07:02 AM
TORONTO, July 20, 2009 - In the first two weeks of July, Greater Toronto REALTORS® reported 4,437 sales up 27 per cent compared to the first two weeks of July 2008. The average price for these transactions was up four per cent year-over-year to $394,750.
"The resurgence in home ownership demand experienced in the spring has continued into the summer. Home buyers continued to take advantage affordable market conditions in the first half of July," said TREB President Tom Lebour. "If the mid-month results carry forward, we may see the best July on record."
Read the complete report on my website blog … (0 comments)

real estate: GTA Resale Housing Market Posts Best June on Record - 07/09/09 12:01 PM
TORONTO, July 6, 2009 - - 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.(1)
"The record result in June is testament to the fundamentally sound housing market in the GTA," said the Toronto Real Estate Board's newly appointed 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."
Read the complete Story on my Website
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real estate: Changes Proposed for HST on New Housing - 07/09/09 11:55 AM
The provincial government has announced some proposed changes to the way it would apply the proposed Harmonized Sales Tax (HST) to the purchase price of newly constructed housing. The provincial government has also announced proposed transitional details for newly constructed properties.BackgroundThe provincial government has announced that it intends to combine the eight percent Provincial Sales Tax with the five percent federal Goods and Services Tax, creating a 13 percent Harmonized Sales Tax (HST).
· The HST is NOT YET IN EFFECT. The provincial government has indicated that it intends to bring the HST into effect beginning on July 1, 2010.
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real estate: Greater Toronto Resale Housing Sales Up in First Half of May - 05/22/09 02:00 PM
Greater Toronto REALTORS® reported 4,561 transactions in the first half of May - an increase of three per cent compared to May 2008.
"Members reported a rise in buying activity this month," said TREB President Maureen O'Neill. "Many home buyers who were undecided about purchasing a home during the winter months are now proceeding with confidence as a result of the GTA housing market's affordability."
The average price for MLS® sales was in line with last year, down by less than one-half of one per cent at $399,811. "More sales and fewer listings resulted in tighter market conditions which pushed the … (0 comments)

real estate: March Resale Housing Results Bring Positive News - 04/16/09 01:33 PM
In March 2009, Greater Toronto REALTORS® reported 6,171 sales - down seven per cent from March 2008, representing the smallest year-over-year decline in the last five months. The average price for March transactions was $362,052 - down less than five per cent from the same month last year.
"The Greater Toronto housing market has stood up very well given the challenging economic times the world has experienced in recent months," commented TREB President Maureen O'Neill. "In fact, over the past two months, the situation in the housing market has improved."
The seasonally-adjusted annual rate of sales increased to 65,600 in March … (0 comments)

real estate: Greater Toronto Area Reported 4,120 Resale Housing Transactions in February - 03/05/09 02:12 PM
TORONTO, March 5, 2009 - 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.
To see the detailed report, please visit my blog at http://www.aceteamrealty.com/blog.asp
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real estate: Rental Transactions Increase - 02/11/09 05:18 AM
Between September 1, 2008 and December 31, 2008, Toronto Real Estate Board (TREB) Members reported 3,433 rented condominium apartments and townhouses in the Greater Toronto Area.
This represented a 30 per cent increase over the 2,635 transactions recorded during the same time frame in 2007. A good part of this increase likely came from rental listings in newly completed condominium apartment buildings containing investor-owned units.
"The increasing strength of the rental market combined with low interest rates and reasonable home prices mean that now could be an excellent time to purchase an investment property," said Maureen O'Neill, President, Toronto Real Estate … (0 comments)

real estate: 2,670 Resale Housing Transactions in GTA in January - 02/11/09 05:11 AM
Greater Toronto REALTORS® reported 2,670 sales in January compared to 5,075 in the first month of 2008. "Demand for existing homes in the Greater Toronto Area moderated as the housing market followed the broader economic slowdown in Canada," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis.
The average home price in the Greater Toronto Area was $343,632, compared to $374,449 last January. The median price was $303,000 compared to $319,000 last year. "Current selling prices are a reflection of more choice in the existing home marketplace," said Mercer. "At the same time, low mortgage rates have … (0 comments)

real estate: 2,500 GTA Housing Resales in December, 74,000 in 2008 - 01/20/09 12:42 PM
Toronto Real Estate Board Members reported 2,577 sales in December 2008, compared to the 4,646 recorded during the same month in 2007, and the 4,447 recorded in December 2006, TREB President Maureen O'Neill announced today. "Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 recorded during 2006."
The average price in December of 2008 came in at $361,415, compared to $394,931 in 2007, and $336,217 in December of 2006. For 2008 as a whole, prices averaged $379,347, compared to the $376,236 recorded in 2007, and the $351,941 average recorded in 2006.
The … (0 comments)

real estate: Canadian homebuilders deny market headed for meltdown - 01/07/09 05:37 AM
No parallels with U.S.
Eric Beauchesne, Canwest News Service  Published: Monday, January 05, 2009 Brett Gundlock/National PostSold signs on house in Toronto.
OTTAWA - The Canadian housing market is cooling but is not facing a U.S. style meltdown, builders here say.
"A few commentators have drawn a parallel between the Canadian housing situation and the extreme difficulties in the housing market in the United States," the Canadian Homebuilders say in a report Monday that dismisses such comparisons.
"There is absolutely no merit in drawing such a parallel," it said in a report that contends the pace of housing construction in Canada … (0 comments)

real estate: Changing GTA Resale Housing Market Reflects Economic Times - 10/25/08 03:53 AM
October 17, 2008 -- Activity in the Greater Toronto Area resale housing market moderated considerably during the first half of October with 2,700 homes changing hands, Toronto Real Estate Board President Maureen O'Neill announced today.
Sales volumes in the GTA decreased 18 per cent compared to the first half of October 2007, when 3,297 transactions were recorded and are down 10 per cent compared to the same period in 2006 when 3,007 sales took place.
In the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21per cent decline from the 1,446 sales … (0 comments)

real estate: Financial assistance is available to fund repairs, renovations - 09/22/08 02:26 PM
CMHC Financial assistance takes the form of loans, forgivable loans or non-repayable contributions, and can be used to fund repairs, renovations, accessibility modifications, the creation of low-income rental units, and home adaptations. Programs are available for low-income households, seniors, and persons with disabilities.
For more details, check CMHC website at
http://www.cmhc-schl.gc.ca/en/co/prfinas/index.cfm
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real estate: Greater Toronto Area Resale Housing Moderate in September - 09/18/08 04:54 AM
September 17, 2008 -- The Greater Toronto Area's autumn resale housing market began with moderate activity, Toronto Real Estate Board President Maureen O'Neill announced today.
With 2,726 sales during the first half of this month, activity has declined 16 per cent from the 3,236 recorded during same time period a year ago. Compared to the 2,913 transactions recorded during the first half of September 2006, activity has declined six per cent.
In the City of Toronto, 998 sales were recorded, which represents a 23 per cent decline from the 1,297 transactions recorded in the first half of September 2007 and an … (0 comments)

real estate: Investment in home improvement, key in competitive housing market - 09/17/08 03:38 AM
Mississauga, ON (September 17, 2008) - An increasingly competitive housing environment is prompting a significant number of Ontario homeowners to invest in renovation before their homes for sale, according to a recent survey by RE/MAX Ontario-Atlantic Canada.
The RE/MAX Survey of Home Buying and Selling Trends in Ontario, conducted by COMPAS Research, in the first half of 2008 found 79 per cent of sellers said they made improvements to their homes two years prior to and more than one third (39 per cent) of them did so with selling in mind. Further indicative of how sophisticated sellers and buyers are becoming, … (0 comments)