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Showing posts from May, 2009

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 D├ęcor. 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