Featured Investment of the Week

 

Asking just $1,340,000 

Fantastic opportunity to purchase this legal 9 room rooming house, plus you can also purchase the adjoining legal 8 room rooming house for another $1,390,000. This property has tremendous potential, and the basement has yet to be developed.

Please contact me today for more details or to schedule an appointment to view this amazing opportunity before it's SOLD.

Click here for more details

 


GTA REALTORS® Report Monthly Resale Housing Figures

TORONTO, December 2nd, 2016 - Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 8,547 home sales through TREB's MLS® System in November 2016. This result represented a 16.5 per cent increase compared to November 2015.

For the TREB market area as a whole, sales were up on a year-over-year basis for all major home types. The strongest annual rates of sales growth were experienced for the townhouse and condominium apartment segments.

"Home buying activity remained strong across all market segments in November. However, many would-be home buyers continued to be frustrated by the lack of listings, as annual sales growth once again outstripped growth in new listings. Seller's market conditions translated into robust rates of price growth," said Mr. Cerqua.

The MLS® Home Price Index (HPI) Composite Benchmark was up by 20.3 per cent compared to November 2015. The average selling price at $776,684 was up by 22.7 per cent on a year-over-year basis.

"Recent policy initiatives seeking to address strong home price growth have focused on demand. Going forward, more emphasis needs to be placed on solutions to alleviate the lack of inventory for all home types, especially in the low-rise market segments,” said Jason Mercer, TREB’s Director of Market Analysis.

In January 2017, TREB will be releasing its second annual Market Year in Review & Outlook Report. This report will contain a more in-depth discussion on the current state and future direction of the housing market in the Greater Golden Horseshoe. Detailed findings from Member and consumer surveys conducted by Ipsos will be released, including consumer intentions, buyer profiles and foreign buying activity. The results of a TREB-commissioned study on transportation infrastructure on housing affordability will also be presented.

Source: Toronto Real Estate Board

Please feel free to contact me for a complete copy of the Market Watch Report.


GTA Commercial REALTORS® Report Commercial Market Figures

TORONTO, December 2nd, 2016Toronto Real Estate Board President Larry Cerqua announced that TREB Commercial Network Members reported 286,265 combined square feet of industrial, commercial/retail and office space leased through TREB’s MLS® System in November 2016, on a per square foot net basis with pricing disclosed. This result represented a 33.6 per cent dip compared to November 2015.

The industrial market segment accounted for approximately 60 per cent of space leased. The average industrial lease rate was $6.09 per square foot net, which represented an increase over the average from November 2015. Average lease rates for commercial/retail and office space were also up year-over-year.

“The most recent results for Gross Domestic Product in Canada presented some positive indicators for the economy and commercial real estate market. It was certainly welcome to see a strong uptick in exports reported, given that many businesses in the GTA are focused on the export of goods and services. If this trend continues, it is possible that some firms may look at further investment in real estate in anticipation of increased demand for the products they produce,” said Mr. Cerqua.

There were a combined 48 industrial, commercial/retail and office property sales reported through TREB’s MLS® System in November 2016, for which pricing was disclosed. This result was the same as reported in November 2015. The mix of properties sold, however, was different. Office properties accounted for a higher share of sales, at the expense of industrial transactions.

Average sale prices, on a per square foot basis, were up on a year-over-year basis for the industrial and commercial/retail market segments. The average sale price for office properties was down over the same period.

It is important to remember that average lease rates and sale prices can change on an annual basis due to shifts in market conditions and changes in the mix and/or location of properties sold.

Source: Toronto Real Estate Board

Please feel free to contact me for a complete copy of the Market Watch Report.


New down payment rules in effect as of February 15th, 2016

Canada's Finance Minister Bill Morneau has announced the new down payment requirements which will come into effect on February 15th, 2016.

The minimum down payment for new insured mortgages will increase from 5% to 10% for the portion of the house or condo price above $500,000. Currently if you are buying a home for $650,000, the minimum down payment required is $32,500, effective February 15th, you would need an additional $7,500 for a total down payment of $40,000. 

This measure will see home buyers going into a home with a little bit more equity.


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In over 80 countries, the RE/MAX network has thousands of offices and agents, ready to help your family find the home that's right for you. Whether its your first home, second home, retirement home or investment home. On global.remax.com, search for properties in your language and in your currency.


It's a Great Time to Buy!!!

This is truly a great time to buy, after all, interest rates are at an all time low. You are either going to be paying your Landlord's mortgage or you will be paying your own mortgage. Call me today for a no obligation meeting.


Great News for First Time Home Buyers

December 13, 2007

ONTARIO EXPANDS LAND TRANSFER TAX REFUND PROGRAM

First-time buyers of resale homes to benefit from new tax measure

The Provincial government is giving all first-time homebuyers a break on land transfer tax by proposing to expand the Land Transfer Tax Refund Program to include purchases of resale homes, Finance Minister Dwight Duncan announced today.

"Expanding this Land Transfer Tax refund is an important part of our government's commitment to helping Ontarians buying their first home," Duncan said.

Effective midnight tonight, first-time buyers of resale homes, as well as newly constructed homes, would be eligible for a refund from the provincial government of up to $2,000 of the Land Transfer Tax paid.

For more information please click here: Land Transfer Tax Refund Program


 

Is your home "Fit to Sell?" Click here for video

 


If you are thinking of SELLING or BUYING Residential or Commercial Real Estate in the Greater Toronto Area (Toronto, Mississauga, Brampton, Caledon, Georgetown, Milton, Oakville and surrounding areas), I would be please to work with you.

Please feel free to browse through my site and if you have any further questions regarding the Selling or Buying process or if you would like more information on my services, please give me a call or simply send me an email.

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