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Showing posts from October, 2010

GTA REALTORS Report Mid-Month Resale Housing Market Figures

Toronto, October 18, 2010 —GTA REALTORS reported 3,012 sales through the MLS during the first 2 weeks of October 2010. This represented a 17 percent decrease compared to the 3,631 sales recorded during the same period in 2009. Year-To-Date sales amounted to 71,988, representing a 3 percent increase compared to 2009. “The GTA resale market is balancing out from a record level of sales experienced in the second half of 2009 and first few months of 2010. This is why sales figures have been lower than 2009 levels in recent months. With this said, it should be noted that the annual rate of decline slowed somewhat through the first two weeks of October,” said Toronto Real Estate Board President Bill Johnston. The average price for October mid-month transactions was $444,644 – up seven percent compared to the average of $414,479 recorded during the first 14 days of October 2009. “we are seeing enough buyers relative to sellers to promote continued price growth year-over-year. People are b

Keeping your best interest in mind

Toronto Sun--October 15, 2010 --Bill Johnston, President of the Toronto Real Estate Board, One characteristic that defines most Canadians is hope. Canada is a society founded on the promise of a better life achieved through hard work and integrity. This dream and these principles attract people from all over the world to Canada, who in turn, contribute so much to what makes our country great. If you were to ask Canadians to identify the key to a better life most would point to home ownership. Indeed, nearly 70 per cent of Canadian households owned their dwelling at the time of the 2006 Census, representing the highest rate of homeownership since 1971. The reason for our love of housing is simple: real estate is not only an excellent long-term investment; it’s the only one in which you can live as it grows. Regardless of whether you are a first-timer, a move-up buyer or a right-sizing empty nester, it’s wise to use the professional services of a REALTOR® to help with the transition. L

GTA REALTORS Work to Eliminate Harmonized Sales Tax Misconceptions

TORONTO, October 5, 2010 – Concerned that homebuyers are uncertain about the Harmonized Sales Tax’s (HST) applicability on real estate purchases, Greater Toronto REALTORS are reaching out to consumers to eliminate misconceptions. Using social media channels and an ongoing series of newspaper columns, TREB is conveying to consumers that HST does not apply to the purchase price of resale homes. “Although the HST applies to newly constructed homes and professional services associated with real estate transactions, the purchase price of a resale home is exempt from this tax,” said TREB President Bill Johnston. Since resale housing was never subject to the Provincial Sales Tax (PST) or the Federal Goods and Services Tax (GST), it continues to be exempt from the new HST. Conversely, newly constructed homes were previously subject to the GST, meaning that the HST now applies. The Provincial Government however, provides a rebate of 75 percent of the PST on the first $400,000 on new homes, to

GTA REALTORS Report Monthly Resale Housing Market Figures September 2010

TORONTO, October 5, 2010 Greater Toronto REALTORS reported 6,310 sales through the MLS in September 2010. This represented a 23 percent decrease compared to the 8,196 sales recorded during the same period in 2009. Through the first nine months of the year, sales amounted to 69,069 – up four percent compared to the first three quarters of 2009. “The level of sales in the second half of 2010 has been lower, representing a balancing out period following record levels of sales in the latter half of 2009 and first few months of 2010. We remain on track for one of the best years in history for existing home transactions in the GTA,” said TREB President Bill Johnston. The average price for September transactions was $427,329 – up five percent compared to the average of $406,877 reported in September 2009. The average selling price through the first nine months of the year was $429,657. “Resale homes in the GTA remain affordable,” said Jason Mercer, TREB’s Senior Manager of Market Analysis

TREB MLS -- AVERAGE Resale Home Price--September

TREB MLS Sales To New Listings Ratio


Condos have become a way of life

Toronto Sun..October 1, 2010 --Bill Johnston, President of the Toronto Real Estate Board. Toronto is a place that has long been known as a city of neighbourhoods, one in which the character of a community can dramatically change from one intersection to the next. From a housing perspective, our neighbourhoods have been defined by the detached, semi-detached and low-rise structures that have stood for generations. The condominium apartment boom of the past decade however, may well re-define our idea of what comprises a neighbourhood. Affordability and certainly lifestyle are two driving factors in making condominiums so appealing. And for today’s condo dwellers a simple gym, pool or party room is no longer the standard. Buyers now view amenities as an adjunct to their private living space. As such, you can find yoga studios, in-door basketball courts, spas, bars and even dog washing stations included in today’s condominium developments. Given that residents share similar tastes with r