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Showing posts from 2009

Just Listed!

14 Woodcroft Crescent $249,900 Fabulous Condo Alternative! 1 Plus 1 Bedroom DETACHED Bungalow with 2 Car Parking. Beautifully Renovated White Eat-In Kitchen with Walk-Out to Large Yard. Finished Basement with Walk-Out. Quiet Dead End Crescent. Call Jason To View!

Just Listed!

46 Western Battery Road # 839 $319,900 Tastefully Decorated 1 plus 1 Bedroom Condo Townhouse With Parking / Locker and Roof Top Terrace. Desirable Liberty Village, Steps to Everything “King West” Has To Offer! Call Jason To View!

GTA REALTORS® Report Mid-Month Resale Housing Market Figures

November 18, 2009 -- In the first two weeks of November, Greater Toronto REALTORS® reported 3,666 sales – up 84 per cent compared to the first two weeks of November 2008. The average price for these transactions was up 10 per cent year-overyear to $415,066. Increased Interest in ownership housing has been widespread throughout the GTA and across all housing types," said TREB President Tom Lebour. "However, it is important to point out that we are now making comparisons to the fall of 2008 when we experienced a marked decline in sales and average price." Year-to-date sales, at 78,233 are up 11 % compared to 2008. Average price, at $393,180, is up by 3%. "Sales and average price in the GTA this winter will be well above levels reported throughout the fourth quarter of 2008 and first quarter of 2009," according to Jason Mercer, TREB's Senior Manager of Market Analysis.

President's Toronto Sun Column: There’s More to us than MLS

November 13, 2009 --Tom Lebour, President of the Toronto Real Estate Board -- If you are one of the thousands of GTA residents who has made a move to a home more suited to your lifestyle this year, chances are you used the services of a REALTOR® to help you do so.On the surface it may seem that a REALTOR’S® access to the Multiple Listing Service is the most significant reason for working with a real estate professional. While REALTORS® can use the MLS® to match your housing preferences with available properties and help you establish realistic expectations if you’re selling, it is just one of several tools they use to offer you professional advice.They can also for example, access the Municipal Property Assessment Corporation’s database to provide you with valuable insight into current taxes on individual properties, ownership histories and lot size specifics.Using Teranet’s GeoWarehouse, they can retrieve even more information that is useful in the decision-making process like streets

President's Toronto Star Column: HST Will Raise Cost of Living, Buying Homes...

November 13, 2009 -- Tom Lebour, President of the Toronto Real Estate Board --Starting July 1, 2010 Ontarians can expect to pay a harmonized sales tax (HST) rate of 13% on a long list goods and services that were previously exempt from the 8% Provincial Sales Tax (PST). While the impact of the tax will be felt by all Ontarians, the province’s 3 million homeowners and the thousands who buy and sell a home every year will be hit particularly hard by this latest tax grab. As real estate professionals, REALTORS® know how important the dream of homeownership is to Ontario families. Unfortunately, thanks to the forthcoming HST, that dream is going to become much more expensive. After July 1, 2010, every residential real estate transaction in Ontario will face a significant tax increase. Specifically, home buyers and sellers can expect to pay 8% more on legal fees, appraisals, real estate commissions, home inspection fees, moving costs and the provincial government’s forthcoming system of man

TREB MLS -- AVERAGE Resale Home Price


GTA Real Estate Market Soaring

November 9, 2009 -- Tom Lebour, President of the Toronto Real Estate Board --It has been a red-hot autumn in the Greater Toronto Area resale housing market.In the first two weeks of October, Greater Toronto REALTORS® reported 3,631 sales, a 34 per cent increase compared to the same period a year ago. The average price of GTA homes sold during this timeframe also grew, by 17 per cent, to $414,479. Condominium sales increased 23 per cent to 857 transactions, with an average price of $292,439, up 12 per cent year over year.The average price increased most significantly in the City of Toronto while the 905 Region experienced the strongest sales volumes. In the City of Toronto the average price climbed to $455,001, a 21 per cent increase from mid-October last year. The number of sales was up 31 per cent compared to the same period, reaching a total of 1,489 transactions. Condominium sales in Toronto increased 17 per cent from a year ago, to 589 transactions. They sold at an average price of

Where to buy: Many untapped areas of Toronto that are both desirable and affordable

October 23, 2009 --Tom Lebour, President of the Toronto Real Estate Board, With Greater Toronto Area resale housing activity continuing at a strong pace, some homebuyers may view a condominium purchase as their only launching point into the market. While condo living is an excellent choice, there are also many untapped desirable neighborhoods where great prices on single detached homes can still be found. One such example is the area around Wilmington Park in North York. Located south of Finch Avenue and West of Bathurst Street, ‘50s era bungalows and side-splits on wide lots are prevalent in this area, which has an abundance of greenspace. Here you can find a home that is still close to central Toronto and you’ll save several thousands of dollars by not paying the premium associated with the Yonge Street corridor. In recent months detached homes in this neighborhood have sold for $549,635 on average, that’s compared to $865,467 in central Toronto. Along the eastern border of North Y

GTA Housing Market Rebound Continues in September

October 5, 2009 -- In September 2009, Greater Toronto REALTORS® reported 8,196 sales, up 28 per cent from September 2008. The average price for September transactions was $406,877 – up by 10 per cent compared to the same month last year.“We have experienced an increasing rate of existing home price growth in the GTA as sales have continued outpace 2008 results,” said TREB President Tom Lebour. “Consumers have remained confident in ownership housing as a long-term investment.” Year-to-date sales, at 66,437 were up 4.5 per cent compared to the first nine months of 2008. Average price, at $388,417 was up by almost 1.5 per cent.“Existing home sales will finish strong this year, pushing through the 80,000 mark and moving in line with some of the best years on record under the current TREB market area,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis.

TREB MLS * Average Resale Home Price

TREB MLS New Listings

Go site-seeing!

September 11, 2009 - Toronto Sun-- Tom Lebour, President of the Toronto Real Estate Board... As a GTA resident, chances are you’ve enjoyed visits to the city’s major landmarks. This summer though, you may want to skip those in favour of a different kind of sightseeing tour.Our city’s new condominium developments offer a glimpse into the height of luxury and modern design. And these steel and glass monoliths aren’t just breathtaking to behold from outside. In an effort to distinguish their projects in this burgeoning market, developers are in a seemingly limitless pursuit to offer the finest features and amenities.You’ll find stunning three storey lobbies that feature an awe-inspiring mix of glass, exotic wood and marble.For a mere $30 million, a luxury 9,000 square foot penthouse on the 55th floor of the Four Seasons Private Residences can be yours.Condos are not a one-room box with a view of the nearest brick wall. Today’s condominium developers are offering two and three bedroom uni

TREB MLS * Average Resale Home Price

Toronto Real Estate Board MLS SALES

Just Listed! 233 Beecroft Rd. Suite 717

$ 289,900 A Rare 2 Storey Loft Style Condo in a Fabulous “One of a Kind” Building in the Heart of North York. Very Bright & Clean with Floor to Ceiling Windows, Hardwood Floors, Lots of Storage, 2 Lockers, 1 Parking Spot. Open Concept Living with an Unobstructed North/West View. Call Jason to View!

A changing shade of grey...

September 04, 2009 -- Toronto Sun , Tom Lebour, President of the Toronto Real Estate Board... More than most other descriptors, associations with the word ‘grey’ continue to evolve.In recent years for example, rather than being considered drab, grey has emerged as a chic new colour in interior design.Back in 1981 when 9.6 per cent of Canada’s population was age 65 years and older, ‘grey’ had connotations of a more sedate lifestyle.By the time of the last Census though, in 2006, the senior share of the population rose to 13.1 per cent and associations with the word ‘grey’ began to change. Today, 60 is regarded as the new 50.Toronto seniors incidentally, were tallied in the 2006 census to an even greater number, comprising 14 per cent on the population. Nearly 95 per cent of this group lives in private residences, with a diminishing number living in senior living centres.Given that seniors are more likely than other age groups to own their homes, it’s easy to see that they represent a k

Upgraded Family Townhome! $289,900

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Vertical City – Toronto is Growing Up

August 21, 2009 -- Tom Lebour, President of the Toronto Real Estate Board. Torontonians are crazy for condos. Last month there were 2,361 condominium sales in the GTA, an increase of 25 per cent from the previous July.While sales of all housing types have been robust throughout the past couple of months, condominium transactions are making a stronger contribution to the big picture than ever before.In little more than a decade, condo sales have gone from comprising a quarter of all GTA resale transactions to accounting for almost one in every three homes that changes hands. In central Toronto condominiums now represent 60 per cent of resale transactions.As a result of the condo boom the population of downtown Toronto grew by 10 per cent in the last five-year census period, representing the largest five-year population increase in the core throughout the last 30 years.And there’s more to come. According to the Canada Mortgage and Housing Corporation the seasonally adjusted annual rate

GTA REALTORS® Report August Mid-Month Resale Market Figures

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. "The results for the first half of August indicate that many households in the GTA remain confident in their ability to purchase and pay for a home over the long term," said TREB President Tom Lebour. Year-to-date sales, at 54,303 are up slightly compared to 54,138 in 2008. Average price, at $385,603 is down by less than one half of one per cent. "Strong resale housing demand will contribute to broader economic recovery as each transaction results in substantial spin-off benefits to other sectors of the economy," explained Jason Mercer, TREB's Senior Manager of Market Analysis.

Home Away from Home

August 7, 2009 -- Tom Lebour, President of the Toronto Real Estate Board ...Statistics show that Greater Toronto Area residents are excited about real estate again. July’s 9,967 sales set a best monthly record, up 28 per cent year over year. The previous month also set a record for June, up 27 per cent from the year prior.We’re even seeing signs of life in the United States resale housing market. In July, the National Association of REALTORS® reported that pending home sales rose for the fourth consecutive month. Existing home sales also increased, for the third consecutive month, with available inventory easing and prices remaining low.This means that if you’re comfortable with your residence here at home, now is an opportune time to invest in a vacation property south of the border.Florida alone welcomes hundreds of thousands of Canadians each year, with many snowbirds taking advantage of United States government provisions that allow us to spend up to six months a year there withou

Just Listed 1863 Queen St E #219

$419,900 An Entertainer's Delight! Sun Drenched 400 sq ft Terrace with South Exposure in “The Heart Of The Beach”. Popular Split Bedrooms, Open Concept with Great Flow, 2 Separate Walk-outs to Terrace. Granite Kitchen Countertops, Pantry, Ceramic Backsplash. Steps to Boardwalk, Lake, Trendy Shops & Restaurants, TTC. Well Managed Desirable Low Rise Building. Nothing To Do But Move In! Call Jason to View!

The Canadian Dream!

July 31, 2009 -- Tom Lebour, President of the Toronto Real Estate Board . It’s hard to believe that we are already nearing the busy fall period in the Greater Toronto Area’s resale housing market. In fact, due to current weather patterns, this season could go on record as the summer that wasn’t. It’s important to recognize though, that with every persistent cloud comes a silver lining.Some cottagers who normally make the trek North every Friday have tailored their plans according to the weather this year and in doing so, they may have also re-evaluated their need for a recreation property. That’s good news if you’re thinking of buying a vacation home.There are however, a number of factors to consider if you’re planning to own a cottage or chalet. Fortunately, financing may be easier than you think. Most financial institutions’ mortgage approval criteria remain consistent for both primary and secondary residences. You may for example, be able to finance 95 per cent of your purchase by

“Move or Improve”: Weighing the Benefits of Renovating

July 24, 2009 --Tom Lebour is President of the Toronto Real Estate Board. These are exciting times for the Greater Toronto Area resale housing market. Last month, 10,955 properties changed hands, making it the best June on record. While many GTA residents have capitalized on low mortgage rates to make their next move, this year’s federal tax incentive has motivated others to renovate instead. If you are a homeowner, eventually you may have to decide whether to renovate or move on. There are many factors you should consider when weighing both options.The most significant consideration of course, is cost. When you undertake a renovation, costs can escalate due to a number of variables. As well, bear in mind that if you are planning to renovate, the project has to make economic sense. You might really want sparkling granite countertops and radiant floor heating, but consider whether these improvements are advisable in your current location.If after renovations are complete, the value of

Just Listed! 23 Sudbury St. # 2305

Outstanding Value! $347,700.00 3 Bedroom, 2 Bath Stacked Condo Townhouse in Trendy King West Village. South Facing Essex Model With Huge Rooftop Terrace. Open Concept Living/Dining/Kitchen. Neutral In Décor! A Must See!! Call Jason to View!

Just Listed! 78 Harrison Garden Blvd.#611

Incredible Value! $349,900 2 Split Bedrooms, 2 Baths, Unobstructed South / West Views, Modern Open Concept Kitchen with Granite Counter Tops, Laminate Floors, Very Bright and Spacious. Tridel Skymark Avondale. Million Dollar Facilities!!! Call Jason to View!

“Weathering the Storm”: GTA market is holding it’s own in tough times

July 17, 2009 -- Tom Lebour, President, Toronto Real Estate Board-- In last week’s article I explained that the Toronto Real Estate Board (TREB) recorded a record 10,955 sales in June. We also experienced the first annual average price increase since August 2008, with the average price rising two per cent to almost $404,000. This week, I want to talk about why the Greater Toronto Area housing market has remained resilient over the past year and also why we should continue to see steady growth in the housing market over the longer term.So, how is it possible that during a recession we saw record existing home sales last month? TREB’s Senior Manager of Market Analysis, Jason Mercer, points to affordability: “With prices leveling off, mortgage rates at or near historic lows and earnings continuing to grow, the average home became more affordable for the average household this Spring.” Mercer also suggested that “many households were in a holding pattern during the winter months, waiting

GTA Resale Housing Market Posts Best June on Record

Market Watch...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 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.”1Seasonally adjusting TREB MLS® data removes recurring seasonal trends observed each year. For example, MLS® sales are highest in late spring e

Just Listed! $276,000

1050 The Queensway Ave. Suite 114 WOW! This 1 + 1 Bedroom Shows Beautifully! Outstanding Layout in 850 Sq Feet of Luxury Plus 200 Sq Ft Terrace! 2 Level Loft Design With Open Concept. Main Floor Walk Out To Huge Terrace. Main Floor 2 PC Bath. 2nd Level Master Retreat With Ultra Modern Ensuite Bath. Den Could Be Used For a 2nd Bedroom. Pet Friendly Building! A Must See! Call Jason to View!!!

Just Listed! $349,900

83 Watkins Glen Crescent Terrific EXTRA WIDE End Unit Freehold Townhome! One of the Largest Lots in Bayview Greens Community! 3 Bedrooms, 3.5 Baths with Thousands Spent on Upgrades. Very Bright & Spacious, Tastefully Decorated, Open Concept, Professionally Finished Basement. Nicely Landscaped with HUGE DECK, Perfect for Entertaining! Call Jason to View!

Summertime House Maintenance

I am passing on a list of Areas to Address for Summertime House Maintenance From A Local Professional Home Inspector... Monitor basement humidity and avoid relative humidity levels above 60 per cent. Use a dehumidifier to maintain safe relative humidity. Clean or replace air conditioning filter, and wash or replace ventilation system filters if necessary. Check basement pipes for condensation or dripping, and take corrective action, for example, reduce humidity and or insulate cold water pipes. Check the basement floor drain to ensure the trap contains water. Refill with water if necessary. If you have a plumbing fixture that is not used frequently, for example, a laundry tub or spare bathroom sink, tub or shower stall, run some water briefly to keep water in the trap. Deep clean carpets and rugs. Vacuum bathroom fan grille. Disconnect the duct connected to the dryer and vacuum lint from duct, the areas surrounding your clothes dryer and your dryer’s vent hood outside. Check security o

Homeowners in line for 15% Rebate on Home Renovations

In an effort to stimulate the sagging economy, the Government of Canada recently introduced a new Tax Rebate on home renovations done in 2009. Following the recent announcement of the Home Renovation Tax Credit (HRTC), tax taxpayers can claim 15% of their home improvement bills for work done between January 27, 2009 to February 1, 2010. The tax credit, which is available for homes or cottages owners, is effective immediately. Taxpayers can claim renovations on their 2009 tax returns on costs over $1,000, but not exceeding $10,000 for a total tax break of $1,350 maximum. Eligibility for the HRTC will be family based. A family will be allowed a single credit that may be shared within the family. If two or more families share the ownership of an eligible dwelling, each family will be eligible for their own separate credit (i.e. each up to $1,350) that will be calculated on their respective eligible expenditures. If you own a home and a cottage, eligible expenditures incurred for both prop

Market Watch - May 2009

Housing Sales Increase for the Second Month in a Row! For the second month in a row, the Canadian housing market has recorded an increasing number of sales in most areas around the country. “Conditions in the resale housing market have improved markedly this Spring,” according to TREB President Maureen O’Neill. “Home purchases have increased as households have taken advantage of low interest rates and slightly lower home prices.”While April sales remained lower than last year, the housing market gained momentum on a month-over-month basis.Paul Penner, President of the Fraser Valley real estate board, says current conditions have created one of the best buying opportunities in years. “REALTORS® have successfully communicated to their sellers to be more realistic with their prices, which is why we’ve seen a 29% increase in sales from March to April.” Penner also attributes the increase to all-time historically low interest rates and still relatively high inventory for Fraser Valley, alth

Fabulous R*E*N*O*V*A*T*E*D 2 Bedroom Suite in High Demand North York Location

Offered at $167,500 Thousands Spent in Upgrades. Tastefully Decorated in Neutral Décor. Huge Storage/Laundry Room, Double Bedroom Closets, Well Managed Building. Close to Shops, Schools, TTC, Parks, HWY’s. Nothing To Do But Move In! Call Jason to View!

Beautiful Freehold Townhome!

Offered at $349,900. This 3 Bedroom, 2.5 Bathroom, Family Room with Walk-Out, Open Concept Living. Very Rare South Facing Yard Backing Onto Park! Extremely Bright & Spacious! Neutral In Decor. Steps to R/T, Shopping, Parks & More! Call Jason to View!

Ownership Housing Plays Important Role

Maureen O’Neill, President of the Toronto Real Estate Board May 22, 2009 -- A couple of months ago, I focused this column on the affordable housing strategy that the City of Toronto was developing. This is an important issue, so I want to update you on where this strategy stands.After almost a year of consultations, a final version of the strategy was released by the City last week. Although it is not perfect, the document does make some encouraging commitments, the most important of which, I believe, are the targets that it sets for affordable ownership housing. Before I get into the details of this aspect, it is worth mentioning that the simple fact that the City’s strategy includes actions on affordable ownership housing is a considerable accomplishment. In the past, government action on affordable housing almost always focused exclusively on rental housing. For years, REALTORS® have been telling governments that ownership housing has an important role to play in affordable housing

In The Trenches In Toronto...

In the last couple of weeks, it seems like the Real Estate market ALL OVER TORONTO has been extremely HOT. Detached, Semi's & Freehold's that are in average to above average condition and are priced competitively, seem to be selling fast. This is a true testament that today's affordability continues to possitively drive the market in TORONTO.

Gated Victorian Mansion In The Republic of Rathnelly

300 Avenue Road Suite #4. $649,900 Outstanding & Quite Unique 2 Bedroom, 3 Bath, 2 Level Unit Which Has Been Tastefully Upgraded Through Out !! Along with Your Private 20' X 20' West Facing Deck. A True Entertainer's Delight! If You Are Looking For That Special Place in the City...Call Me at 416-443-0300.

March MLS Numbers Indicate Real Estate Bottom**NOW IS THE TIME TO BUY

Toronto -April 6, 2009 In March 2009, Greater Toronto REALTORS reported 6,171 sales - down 7% 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 5 % 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." "Sales in March incresed at a rate over and above what would be expected from the normal spring-time bump," said Jason Mercer TREB's Senior Manager of Market Analysis. "A greater number of households have taken advantage of incresed affordability in the housing marketplace" MORE positive news is that the 'days on market' fell from February 2009--45days to March 2009-

It's a Good Time To Buy:Poll

Toronto Sun, Mar. 15, 2009. The economy hasn't slowed down Canadians' intensions to buy a home. In the 16th annual RBC Homeownership Survey, released last week, 65% of Canadians think it's a buyer's market, and more than a quarter of Canadians(27%) say they intend to purchase a home over the next two years, up 4 points from 23% in 2008- largest single year increase since 2001. In Ontario, the response is even stronger: 30% said they were likely to purchase a home within the next two years, up from 21% in 2008. "The current economic environment does not appear to have dampened Canadians' overall confidence in the housing market," said Karen Leggett, head of home equity financing for RBC Royal Bank. According to the survey, conducted by Ipsos Reid, a majority of Canadians(83%) remain positive that home ownership is a good investment. "Low Mortgage Rates and favourable housing prices are influencing home purchase intentions this year and may be the

First Time Buyer's Dream!

Affordable Home Ownership in this Terrific Newer Freehold Townhome! Whitby. Unique Open Concept Main Floor with "Great Room". Neutral Decor, Tastefully Upgraded. Fully Fenced Backyard with Access to Garage PLUS Direct Entry From Garage. Extremely Clean & Well Kept with over 1,500 Sq Ft. Close to Schools, Parks, Shopping & More! $249,900

If You Are Currently Renting...

Investment Chart For Wealth Creation! Year 1..........................................................Year 20 Buy................$200,000.....(Use Zero Inflation)...$200,000 Down Payment....$40,000.....(rent pays mortgage)............. Mortgage........$160,000.......................Clear = $160,000 You have $160,000 free & clear more than you have today (not taking into consideration interest, tax w/off, home repairs etc. Index to Inflation: @ 3 1/2 % inflation doubles in 20 years = house worth $400,000 ++ If you take positive cash flow and put back into the mortgage you may realize full return in less than 15 years. $40,000. Down $10,000. in Annual Rent = 25% Annual Return on Cash Invested If you are currently renting, then your Landlord gets these benefits.

Unsure Where To Put Your Money???

GIC's? RRSP's? TFSA's? RESP's? Try Real Estate!!! Is This The Right Time to Buy an Investment Property?? Many of you have asked me that question recently. Now is a good time for me to share with you some unprecedented realities on this subject. The real estate market conditions are very good right now for Buyers and Investors to take that step forward. 1. The Market has cooled down from previous years which means instead of a Seller's Market (More Buyers than Sellers), we are seeing more of a Buyer’s Market (More Sellers than Buyers) now. There are many good opportunities out there now from a pricing standpoint. 2. Mortgage rates have NEVER been as LOW as they are right now. Prime Rate is 3% and “best” 5 year rates are sitting at 4.34%.. Historically when we have seen an adjustment in the Real Estate Market, the interest rates have actually risen. That is not the case now. 3. The Rental Market is currently very robust. Toronto is not only a very diverse city which a

How Do Mortgage Rates Today Compare to One Year Ago?

From the desk of Carolyn Dunlop , Senior Mortgage Specialist, Dominion Lending Centres Edge Financial... February 26, 2009 . Given recent decreases in activity in the real estate market it may be prudent to examine how falling mortgage rates are affecting potential purchases for clients today. Believe it or not it is actually much more affordale to buy a home now as opposed to one year ago. In February 2008 the best 5 year mortgage rate was 5.79%. For a client with a $250,000 mortgage this translates to a monthly payment of $1,568 based on a 25 year amortization. Over the course of this 5 year term the client would pay interest on this mortgage of $68,026. Compare this to today's best 5 year rate of 4.00%*. The same $250,000 mortgage will now cost the client $1,315 per month based on a 25 year amortization and will result in interest of $46,537 over 5 years. The interest savings to the client over 5 years is $68,026 - $46,537 = $21,489. But that's not all...the cl

TREB President's Column as it appears in the Toronto Sun

Toronto Real Estate Board to Feds: More help to Homebuyers January 23, 2009 -- It was encouraging, and inspiring, to see the optimism surrounding the inauguration of President Barack Obama earlier the week. Considering the importance of the U.S. economy to the world, I, like many, hope that the President will move swiftly and decisively to address his nation’s economic challenges; but while U.S. action is critical for the global economy, action is needed by all governments, including Canada’s. This is why next week’s federal budget announcement in Ottawa is receiving so much attention from all circles, including REALTORS®. The federal budget has one simple mission: take action on the economy. To do so, there are various areas that it can, and should focus on, but there is no question that the housing sector is, always has been, and always will be, one of the most important parts of the economy. A recent study conducted for the Canadian Real Estate Association (CREA) determined that ev

Federal Budget Helps Home Buyers and Owners

Maureen O’Neill TREB PRESIDENT’S COLUMN AS IT APPEARS IN THE TORONTO SUN February 06, 2009 Federal Budget Helps Home Buyers and Owners It is always rewarding when hard work produces results. That’s why REALTORS® are proud of the work they did to make sure that the recently announced Federal Budget recognized the importance of the housing sector to the economy. I’m happy to say that these efforts helped to produce a Budget that puts more money in the pockets of home buyers and owners. One of the most important announcements in the Budget was a change to the Home Buyers’ Plan that REALTORS® have long been calling for. Specifically, the Budget proposes to increase the maximum amount that individuals can withdraw, tax-free, from their RRSP to put towards the down payment on a home, from $20,000 to $25,000. REALTORS® worked hard to ensure that the government understood that, while this program has been extremely successful since it was first implemented in 1992, its usefulness to home buyer

Finding a Needle in a Haystack

There are hundreds of homes on the market in the area where you might choose to live. But very few of those homes will have the features that are on your top 10 list and the price you can afford. Sifting through the pile to narrow down the best choices takes time, experience, and a complete listing of all For Sale homes in the market area. Without the right tools it can be like finding a needle in a haystack. While some folks enjoy the challenge of exploring the real estate market on their own, it never hurts to team up with a network of professionals who know the market inside and out. Finding the right home for you has little to do with luck and everything to do with hard work and perseverance! Choosing me as your real estate professional will provide you with: * The knowledge of an experienced REALTOR to steer you through the twists and turns of real estate transactions. * Straight answers to your toughest questions. * An area-wide multi-list of Homes For Sale. Since more selle