September 3, 2010 -- Greater Toronto REALTORS® reported 6,232 sales through the Multiple Listing Service® (MLS®) in August 2010. This represented a 22 per cent decrease compared to the 8,035 sales recorded during the same period in 2009. New listings decreased by one per cent year-over-year to 10,488."The prospect of interest rate hikes and new mortgage lending rules prompted some households to purchase a home sooner than they otherwise would have this year. The result has been a larger than normal dip in sales over the summer months. With this said, it is important to recognize that sales on the year were eight per cent higher than in 2009," said Toronto Real Estate Board President Bill Johnston.The average price for August transactions was $411,012 – up six per cent compared to the average of $387,921 reported in August 2009."Market conditions have remained tight enough to support higher home prices in comparison to last year. Under current mortgage lending standards, a household earning the average income in the GTA can comfortably afford the mortgage payments on an average priced home. Market conditions and the affordability picture would have to change dramatically before a sustained drop in the average selling price would take place," said Jason Mercer, TREB's Senior Manager of Market Analysis.
As the temperatures continue to drop, we'll all be spending more time indoors. There are countless ways to make your home feel cozier for the winter if you have extra money to spend, but if you're being mindful of your finances after the holidays, here are some ideas to help you do it without spending. Bring Out the Blankets As the temperatures drop, it’s time to bring out all of those extra throw blankets and quilts you have lying around in storage. Drape blankets over your couches, chairs, beds, and ottomans; fill a blanket ladder and display it in the corner of a room; or fold extra blankets and place them in the corner. Sticking to warm textures such as wool where possible will help to make the space feel cozy. Light Candles Lighting some candles around your home is one of the easiest ways to make your space feel cozy, and who doesn’t have a stash of candles sitting around somewhere in their home? Not only will the flickering light add a sense of warmth and charm, but your ...
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