Featured condo of the week
Click photos for additional information and more photos.
Welcome to this wonderfully kept 2 bedroom condo
located in a fantastic low-rise building and very conveniently
located just steps to shops, public transportation, and schools.
Square One Shopping Centre and all the amazing restaurants and cafés
are just some of the many amenities this great area offers. Quick
access to highways 401, 407 and 403.
This is likely the nicest complex for your money - come see it for
Contact me today for more details or to book a private viewing
before this great condo is
GTA REALTORS® Report Monthly Resale
TORONTO, November 6, 2013 – Greater
Toronto Area REALTORS® reported 8,000 home sales through the
TorontoMLS system in October 2013 – up from 6,713 transactions
reported in October 2012. Over the same period, new listings on the
TorontoMLS system were down.
"The GTA home ownership market has been broadly
characterized by a rebound in sales since the summer. Market
conditions have been tighter in some market segments more so than
others. Ground-oriented homes listed for below one million dollars
in some areas of the GTA have been especially popular with buyers,
while listings for these home types have been constrained," said
Toronto Real Estate Board President Dianne Usher.
"The supply of listings for many home types and
price points has either been down year-over-year or at least not up
by the same annual rate as sales. The additional Land Transfer Tax
in the City of Toronto and the removal of the government guarantee
on high ratio mortgages for home purchases over one million dollars
have arguably led many homeowners not to list," continued Ms. Usher.
The average selling price for TorontoMLS sales in
October 2013 was $539,058– up by more than seven per cent in
comparison to the average price of $502,127 in October 2012. The
MLS® Home Price Index (MLS® HPI) Composite Benchmark was up by 4.5
per cent year-over-year.
"Growth in the average selling price and the MLS®
HPI Composite Benchmark will continue through 2014. Inventory levels
for ground-oriented home types will be low from a historic
perspective and home ownership demand will stay strong as
affordability remains in check due to the continuation of
accommodative borrowing costs," said Jason Mercer, the Toronto Real
Estate Board’s Senior Manager 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
November 6, 2013 – Toronto Real Estate Board Commercial
Division Members reported almost 506,000 combined square
feet of leased industrial, commercial/retail and office
space through the TorontoMLS system in October 2013.
This result was down
compared to October 2012, when 821,118 square feet of leased space
was reported. Lease transactions reported include those undertaken
on a per square foot net basis for which pricing was disclosed.
Average lease rates were up
on a year-over-year basis for the three major property types. The
annual increases were based on market factors and changes in the
characteristics of properties sold this year compared to last.
"While the amount of leased
space was down this past October in comparison to the same period in
2012, it is important to note that we do see volatility in the
commercial leasing market from one month to the next. Continued
growth in the Canadian economy, albeit at a slightly slower pace
than originally expected, should provide a foundation for sustained
demand for commercial space in the GTA," said TREB Commercial
Division Chair Cynthia Lai.
There were a combined 61
industrial, commercial/retail and office property sales reported
through the TorontoMLS system in October 2013 – up from 55 sales
recorded in October 2012.
Annual changes in average
sale prices were mixed for transactions where pricing was disclosed,
depending on market segment. Average selling prices on a per square
foot basis for industrial and commercial/retail properties were up
in October, whereas the average sale price for office properties was
"Recent reports suggest
that it will take longer than originally expected for the economy to
reach full capacity. The impact of this could be mitigated by the
expectation that borrowing costs will remain low over the next year,
which may prompt businesses to make further capital investments
including real estate acquisition," continued Ms. Lai.
Federal Government Changes
Mortgage Financing Rules
January 17, 2011 - The federal government
has announced changes to
mortgage financing rules for government-backed (insured) mortgages
(less than 20 per cent down payment), which will affect maximum
amortization periods, mortgage refinancing, and home equity lines of
The changes announced by the federal government include:
maximum amortization period to 30 years, from 35 years.
maximum amount Canadians can borrow in refinancing their
mortgages to 85 percent, from 90 percent, of the value of their
government insurance backing on lines of credit secured by
homes, such as home equity lines of credit. This change would
apply to Home Equity Lines of Credit that do not amortize over
time (i.e. borrowers are not required to make regular payments
on the principal amount of the loan). However, with established
scheduled principal and interest payments, a loan will continue
to be eligible for government-backed insurance, provided it
meets the underwriting standards set by the mortgage insurer.
The changes to
amortization periods and refinancing rules will come into force on
March 18, 2011. The withdrawal of government insurance backing on
home equity lines of credit will come into force on April 18, 2011.
Exceptions would be allowed after the new measures come into
force where they are needed to satisfy a binding purchase and sale,
financing or refinancing agreement entered into before the
corresponding coming into force dates.
Please click her for additional detail.
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
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.
this Land Transfer Tax refund is an important part of our
government's commitment to helping Ontarians buying their
first home," Duncan said.
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.
information please click here:
Land Transfer Tax Refund Program
are thinking of SELLING
or BUYING Residential or Commercial Real Estate in
the Greater Toronto Area (Toronto, Mississauga,
Brampton, Caledon, Georgetown, Milton,
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.
Proud sponsor of the "Children's Miracle
Network" and the "Sold on a Cure"
for Breast Cancer Research Program