Featured Rentals of the Week 

Asking $1,750 per month + utilities

Three bedroom main floor apartment with own laundry and parking for one car.

 

   
Asking $1,300 per month + utilities

Three bedroom main floor apartment with own laundry and parking for one car.

 

These two apartments are very conveniently located in the Old Weston Road area of Toronto between Roger Road and St Clair Avenue West, just steps to public transportation, schools and shops.

Click photos above for more details.


GTA REALTORS® Report Monthly Resale Housing Figures

TORONTO, February 3rd, 2017 - Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 5,188 residential transactions through TREB's MLS® System in January 2017. This result was up by 11.8 per cent compared to 4,640 sales reported in January 2016. Annual rates of sales growth were higher for condominium apartments than for low-rise home types.

January 2017 picked up where 2016 left off: sales were up on a year-over-year basis while the number of new listings was down by double-digit annual rates for most major home types.

"Home ownership continues to be a great investment and remains very important to the majority of GTA households. As we move through 2017, we expect the demand for ownership housing to remain strong, including demand from first-time buyers who, according to a recent Ipsos survey, could account for more than half of transactions this year. However, many of these would-be buyers will have problems finding a home that meets their needs in a market with very little inventory," said Cerqua.

The MLS® Home Price Index (HPI) Composite Benchmark price was up by 21.8 per cent on a year-over-year basis in January. Similarly, over the same period, the average selling price was up by 22.3 per cent to $770,745, with double-digit gains in the average prices for all major home types.

“The number of active listings on TREB’s MLS® System at the end of January was essentially half of what was reported as available at the same time last year. That statistic, on its own, tells us that there is a serious supply problem in the GTA – a problem that will continue to play itself out in 2017. The result will be very strong price growth for all home types again this year,” said Jason Mercer, TREB’s Director of Market Analysis.

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, February 3rd, 2017 - Toronto  Real Estate Board President Larry Cerqua announced that TREB Commercial Network Members reported 345,658 square feet of combined industrial, commercial/retail and office space leased through the TREB MLS® System, on a per square foot net basis with pricing disclosed, in January 2017. This result was down from 555,606 square feet leased in January 2016.

As is often the case in the month of January, the change in average lease rates was quite volatile on year-over-year basis. This volatility was due to a compositional shift in the type and location of properties leased this year compared to last year.

“As TREB reported in its recently released Market Year in Review and Outlook report, leasing activity through TREB’s MLS® system grew in 2016. As we move through 2017, the demand for commercial real estate will depend on a number of factors, including the level of business confidence and economic direction of key trading partners. If GTA businesses remain confident in the direction of the economy at the national, provincial and regional levels, it is possible that we will see further growth in commercial leasing and transactions,” said Mr. Cerqua.

The number of commercial property sales reported in January 2017 was similar to the number reported in January 2016. Transactions in the industrial market segment were up on a year-over-year basis, while commercial/retail and office sales were down compared to the same period in 2016.

Similar to the leasing market, year-over-year changes in average selling prices on a per square foot basis, for transactions with pricing disclosed, were volatile due to a markedly different mix of property types sold this year compared to last, particularly for the industrial and office market segments.

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.


Visit global.remax.com to Find Your Next Home or Property

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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