Greater Toronto REALTORS® reported 7,291 sales through the Multiple Listing Service® (MLS®) in February, representing a 77 per cent increase over February 2009. The average price for these transactions was up 19 per cent year-over-year to $431,509. Sales and average price increases represent both increased demand for ownership housing and the base year effect, which involves a comparison ...
Posted by Sara Kareer
on March 3, 2010
New research data collected by the Canadian Association of Accredited Mortgage Professionals (CAAMP) suggests that Canadian mortgage lenders and borrowers, including first time homebuyers, are being extremely prudent with their borrowing and lending.
Key findings of CAAMP’s research include:
• Eighty-six per cent of homebuyers chose fixed rate mortgages. This share fell late ...
Posted by Sara Kareer
on February 23, 2010
The new mortgage changes, announced yesterday by Finance Minister Jim Flaherty, will take effect on April 19, 2010. These new changes are designed to support the long-term stability of Canada's housing market and continue to encourage home ownership for Canadians.
Here is a recap of the announcement:
1: Higher Qualification Rate:Given the fact that interest rates are at all time lows, it has been ...
Posted by Sara Kareer
on February 17, 2010
Even before Finance Minister Jim Flaherty's announcement yesterday, Economists were forecasting a very hot Spring real estate market as home buyers had been expected to rush to beat the harmonized sales tax in Ontario and British Columbia.
Now, homebuyers have one more reason to buy now. Mr. Flaherty’s new qualifying standards that come into effect April 19, 2010 are expected to further ...
Posted by Sara Kareer
on February 17, 2010
Sales Start Off Strong in 2010 -- Greater Toronto REALTORS® reported 4,986 transactions through the Multiple Listing Service (MLS®) in January 2010. This result represented a large increase over the 2,670 sales in January 2009 when the home sales were in a recessionary trough. Last month’s sales were slightly higher than the January average in the five years preceding 2009.
“The ...
Posted by Sara Kareer
on February 11, 2010
Brampton residents have an opportunity to "Get Brampton on the Board" and be a part of gaming history. Hasbro, the makers of MONOPOLY, has launched a nation-wide vote to find Canada's 22 favourite cities that will be included on the new MONOPOLY Canada game board in celebration of its 75th Anniversary.
"What a great opportunity for Brampton to get a piece of real estate in this Canadian edition of ...
Posted by Sara Kareer
on January 30, 2010
The following appeared in the Brampton Guardian yesterday, written by Ruth Ballantyne
Avoid the HST – Buy a home now
The new harmonized sales tax being implemented in Ontario may end up being a friend of business but for consumers buying a new house prepare to be stung. The HST will combine the current GST (5 per cent) and PST (8 per cent) to create one tax, HST at (13 per cent). This tax ...
Posted by Sara Kareer
on January 14, 2010
TORONTO REAL ESTATE BOARD (TREB) MARKET WATCH REPORT FOR DECEMBER 2009
GTA Resale Market Resilient in 2009 ...
Posted by Sara Kareer
on January 8, 2010
Here is an article that appeared today, January 5, 2010, in The Globe and Mail.
Fasten your seatbelts, home buyers
REUTERS
Interest rates are about to start rocketing higher. Savers, get ready
You now have roughly six to nine months to get a personal plan together for dealing with higher interest rates.
After that, the ride begins. Where it ends depends on how smartly the economy and inflation ...
Posted by Sara Kareer
on January 5, 2010
City of Toronto orders Condo Developers to buy annual TTC Metropass for every unit.
In an attempt to encourage transit use and reduce dependency on motor vehicles, the City of Toronto has passed an initiative requiring Developers building condos on Toronto transit lines to buy every unit an annual TTC Metropass in order to obtain condominium approval from the city. This ...
Posted by Sara Kareer
on December 7, 2009