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- Wonderful opportunity to buy a small office building in prime
Bloorcourt Village. Ideal for lawyers, accountants, insurance
brokerage, or other professional uses, or convert to
retail/residential. This building is located in a well established
commercial corridor just steps to Dufferin subway station.
Contact me today for more details or to book a private viewing
before this great opportunity passes you by.
GTA REALTORS® Report Monthly Resale
TORONTO, May 3rd, 2013
– Greater Toronto Area REALTORS® reported
9,811 sales through the TorontoMLS system in April 2013,
representing a dip of two per cent in comparison to 10,021
transactions in April 2012. Both new listings during the month and
active listings at the end of April were up on a year-over-year
"Despite the headwinds we have experienced in the
housing market this year, April sales came in quite strong in
comparison to last year. As we move through the spring and into the
second half of 2013, the demand for home ownership should continue
to firm-up relative to last year," said Toronto Real Estate Board
President Ann Hannah.
"It has been almost a year since the federal
government enacted stricter mortgage lending guidelines. It is
realistic to surmise that some households, who originally put their
decision to purchase on hold, are once again looking to buy,"
continued Ms. Hannah.
The average selling price for April 2013
transactions was $526,335 – up by two per cent in comparison to
April 2012. The MLS® HPI Composite Benchmark Price was up by 2.9 per
"The condominium apartment segment in the City of
Toronto was a key driver of price growth in April, with both the
average selling price and the MLS HPI apartment index up on a
year-over-year basis. The improved condo sales picture, with Toronto
sales down by only one per cent compared to last year, suggests that
interest in condo ownership may be improving," said Jason Mercer,
TREB'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
Canadian commercial markets post
strong first half of 2012, as investor enthusiasm gains
momentum, says RE/MAX
While residential housing sales may
be slowing in some parts of the country, demand for
commercial real estate continues to climb, according to a
report released today by RE/MAX.
The RE/MAX Commercial Investor
Report, highlighting trends and developments in nine Canadian
centres—Greater Vancouver, Calgary, Edmonton, Regina, Winnipeg,
London, Greater Toronto, Ottawa, and Halifax-Dartmouth—found that
almost all markets saw an increase in commercial sales and dollar
volume over the six-month period ending June 30, 2012. Canadian and
foreign investors are behind the push, snapping-up apartment
buildings and small strip malls given continuing low interest rates
and a generally bullish tone for the Canadian economy. Private
investors, in particular, have gained a serious foothold in recent
years, spurring demand for entry-level properties such as multi-unit
residential, suburban and urban retail storefronts, and smaller
Canada’s commercial market has
quickly shaken off the signs of recessionary sluggishness and roared
back to life, with 2012 building on impressive gains reported in
2011. Today’s low interest rate environment, combined with
lackluster returns on GICs and volatility in the stock market, have
renewed demand for commercial real estate at a time when
sellers/landlords are holding on to their investments. With little
product available in the market, upward pressure on pricing is
expected to continue for the remainder of the year and into 2013.
No shortage of investors—small and
large—exists in the commercial market. Multiple offers were noted in
six of the nine markets examined, including all major markets in the
east, Winnipeg and Edmonton. Pent-up demand is a serious concern in
the investment, retail, land and multi-family segments. Realtors
typically have buyers waiting in the wings, yet many properties
never make it to the open market. The climate is fuelling buyer
diversity, with foreign investment, in-migration and immigration
playing an increasing role in nearly every market. The trend is
helping to redirect money into Canada’s hottest markets and serving
to spur investment from overseas.
Given the appetite for tangible
investments with long-term revenue streams and potential for
appreciation, commercial real estate has been gaining favour and is
expected to be a top-performer well into the new year. Despite the
enthusiasm, demand is unlikely to be satisfied while those same
benefits are prompting owners/landlords to hold on to their
properties, especially with the prospect of capital gains taxes down
the road. It’s a push-pull situation, yet buyers are forging ahead,
hoping to ride the wave of year-over-year double-digit equity gains
a little while longer.
Economic factors are at play in most
markets, serving to bolster commercial activity. Alberta’s economic
outlook continues to improve while Saskatchewan remains red-hot.
The $25 billion shipbuilding contract awarded to Halifax Shipyard in
Halifax-Dartmouth has been a major catalyst. With solid economic
fundamentals propping up business investment, industrial real estate
is on the upswing in most markets, supporting growth requirements
from warehouses and distribution centres to processing,
manufacturing and production facilities. A shortage of industrial
product exists throughout Western Canada, as well as in Ottawa and
Halifax-Dartmouth, while the market returns to more balanced
conditions in Southern Ontario, following a period of moderate
Strong consumer and business
confidence remains another strong driver. While the role of
interest rates cannot be ignored, investors face greater scrutiny
from lenders in today’s heated environment. Experienced investors
have dominated much of the activity to date, but smaller investors
are making the foray into the commercial world. The presence of
doctors, dentists, small business owners, and teachers, for example,
is an emerging trend and a sign of the times, given cutbacks to many
pensions and the often slow-growth of self-directed models. The
desire to build a nest egg has some considering mainstream
alternatives like commercial real estate.
Multi-unit residential is the product
of choice for smaller investors (duplex, triplex, fourplex, sixplex)
and larger investors (apartment buildings) alike. Yet, limited
supply has pushed values higher, particularly in markets where no
new rental stock is available. Growing population, immigration, and
the high cost of home ownership are expected to bolster demand for
rental apartments in coming years—virtually guaranteeing a safe and
secure long-term revenue stream. As a result, many owners in this
asset class are choosing to hold on to their investment.
Land development remains a key
segment in all major centres, especially in rapidly growing markets
like the Greater Toronto Area and Calgary, while re-development
properties are sought after in build-out markets like Greater
Vancouver and London-St. Thomas. The trend toward revitalization
exists across the board, with many older buildings being renovated,
retrofitted or re-purposed, raising the quality of existing stock
and re-igniting demand in tired core areas. The move to the
mixed-use, higher-density development model has been well received
and many are acknowledging the concept as the future of Canada’s
urban communities. As a result, investors, developers, retailers
and businesses are rushing to get in on the ground floor—especially
where projects have returned space to prime retail and office
U.S. and multi-national retailers,
making their moves into the Canadian marketplace, are fuelling
robust activity in the retail segment of the market from coast to
coast. American brands such as Nordstrom, Target, J. Crew,
Marshalls, and numerous others have created a flurry of activity
that is changing the Canadian real estate landscape. Shopping malls
are moving to accommodate growth, perhaps best illustrated by
Cadillac Fairview’s application to add one-million square feet of
mixed-use space to Calgary’s Chinook Centre and by Oxford
Properties’ $220 million, 145,000 sq. ft. expansion at the Yorkdale
Shopping Centre in Toronto. Competition is fierce in many parts of
the country, despite higher lease rates. Big-box retailers are
driving similar growth in suburban markets.
Commercial/retail office towers are
under construction in many downtown centres, including Calgary,
Regina, Greater Toronto and Halifax-Dartmouth. Once completed, the
pressure on vacancy rates is expected to be alleviated, and rental
rates are forecast to come down to more traditional levels.
With supply limited and prices on the
rise in many segments, cap rates are edging downward, but investors
remain undaunted. Most are opting for a long-term approach and
banking on future equity gains, as well as a vibrant income stream
in the interim. Institutional and other large investors are
instilling the principles of economies of scale to offset costs,
allowing them to snap up quality property when others may be
stepping back. Price growth has done little to dampen the overall
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