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Showing posts from July, 2009

“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

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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!