Record investment dollars poured into Canadian housing stock over past decade

Mississauga, ON (November 7, 2011) – Billions spent in new construction, renovation, and infill over the past decade have contributed to a serious upswing in the calibre of Canada’s housing stock, propping up residential average price in the country’s major centres, according to a report released today by RE/MAX.

Since 2000, the value of a Canadian home has doubled, rising from $163,951 to $339,030 in 2010. Nowhere has the upswing been better captured than in both the value of residential building permits issued nationally between 2000 and 2010 – at $340 billion – and the estimated $450 billion spent in renovation. The impact of these two forces alone has fuelled the Canadian residential real estate market – as well as the construction industry – for more than 10 years.

As a result, investment in Canada’s housing stock is at an all-time high in the 16 Canadian residential real estate markets examined in the RE/MAX Housing Evolution Report. Higher quality housing translated into extraordinary price appreciation across the country – with 62 per cent (10 markets) experiencing increases in excess of 100 per cent since 2000.

Real Estate Broker, Real estate lawyer and mortgage broker will be available to answer all your questions.
Why learn the hard way. Take advantage of these free sessions and make the biggest investment of your life a positive experience.

Register online at: First time home buyer seminar

Being informed about this transaction is absolutely crucial. Although your real estate agent has the responsibility of guiding throughout the process and has the obligation of looking after your interest during the entire process, nothing replaces the knowledge you posses in order to minimize the risks and make informed decisions with the help of your Realtor.

As Remax Realtors in Mississauga, we find this as part of our obligation to provide you with the necessary information and knowledge about buying your first property.

We are holding free first time home buyer seminar for both home buyers and investors in Mississauga. Classes are held at Remax office right across from Square One Shopping Mall at 50 Burnhamthorpe Rd West.

Time and date of these sessions are emailed out as soon as all seats are reserved. We hold these free information seminars during weekdays after working hours.

If you are interested, please click First Time Home Buyer Seminar Mississauga and register yourself.

These seminars are not intended to solicit buyers under contract.

Just listed a 2+1 Bedroom Luxury Condo at 761 Bay Street in Downtown Toronto.
Further Details

950 sq ft floor plan with 50 sq ft balcony

Suite Features

• Laminate floors throughout
• Granite Counter top in Kitchen
• Large exterior windows with GREAT LAKE & QUEEN’S PARK views
• Ensuite washer / Dryer
• Open Concept Kitchen/living/dining/den area
• 6 Appliances, mainly Stainless steel faced
• Ensuite heating and cooling units for total control
• High quality finishes
• 4 piece ensuite washroom in Master bedroom
• Semi Ensuite 3 piece washroom in second bedroom
• 2+1 bedrooms
• 5’ x 10’ balcony overlooking Bay Street.  Unit 3112 is on the last floor with balconies, so the balcony for this unit is open to the sky
• Owned parking on Level C with owned Locker right at the parking space

Amenities include Parkview Club, an 18000 sq ft state of the art recreation centre with a complete gym, large party room, wi-fi computer rooms, conference room, business centre with secretarial services, multimedia and games rooms (virtual golf, table tennis) indoor pool, whirlpool, sauna and more.

The building boasts a 24 hour concierge and guest suites.

Parking at 761 Bay Street includes free access to window washer fluid, air for your tires, a battery booster, and a private car wash valet in the College Park Car Care Centre.
Call or email me to arrange a showing!
76 Bay St. 763 Bay St. Toronto condos

Click to view slideshow.

For Toronto and Ontario land transfer tax amount check out: Land Transfer Tax

TORONTO, November 16, 2010 – Greater Toronto REALTORS® reported 3,076 sales through the Multiple Listing Service® (MLS®) during the first two weeks of November 2010.

This represented a 16 per cent decrease compared to the 3,666 sales recorded during the same period in November 2009. Year-to-date sales amounted to 78,526 – up slightly from the 2009 total.

“The number of transactions remained high relative to new listings through the first half of November, promoting a healthy rate of price growth compared to last year,” said Toronto Real Estate Board President Bill Johnston.

The average price for November mid-month transactions was $437,554 – up more than five per cent compared to the average of $415,066 recorded during the first 14 days of November 2009.

“Mortgage payments on the average priced home remain affordable in the GTA based. This is why the average selling price continues to increase,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. Click for list of New Condos Downtown.

Downtown Toronto Condos for sale.

Top reason happens to be the commission payable to the Realtor. After doing the calculation a seller whose home worth is $400000 thinks that he will be saving $20,000 at the end of the sale.

The 20k saving is based on 5% commission payable. Keep in mind that these days commission rates can be much lower than 5% these days.
Other reason for selling private may be that the home owner did not have a good experience with the agent in the past.

Selling with Realtor has its own advantages:

• Realtor is a trained sales person who can negotiate better prices and terms
• Realtor can reduce your risks
• Realtor can market your property to larger audience
• MLS listing will help you get maximum exposure
• You only pay a commission when the property is sold and the deal closed
• You are dealing with serious buyers as they come to see your home with an agent
• Serious buyers work with agents, and nosy neighbours go from open house to open house
• When selling by owner, you are attracting bargain hunter
• Buyers dealing with private sale expect to buy the house at lower than market value since you are not paying commission
• Some agents may not bother showing your home since they are not getting paid a commission
• The headache of arranging showings and answering calls might cause you to just hire an agent to take care of the sale

If you are thinking of selling your home in Mississauga, Toronto and Brampton send me an email or call to find out about my special commission offers. Check out Discount MLS for details.

New Homes Terry Fox and Bristol

Cobble Stone Homes

What does that tell us?

Well, I think the momentum is getting stronger and the market is turning in favour of the seller. GTA market is showing some very strong signs. From Ajax to the east to Burlington in the west resale and new homes are flying of the shelves. Another indication of hot real estate market is new developments.

New homes and condos are hot commodity these days. Take for example Burlington where new home builders are selling a 2100 sqft detached home with 36×85 ft lot for $490,000. This does not include upgrades and closing costs. Add another $30k on top….

Lower mortgage rates must play a big role here. A variable rate of prime -90 is a bargain for home buyers. Investors are jumping on this offer from all directions.

With holiday season already here, sales activities are stronger than ever. Sellers must keep in mind that there are less buyers during December and in cold winter but that does not mean one should not sell their home.

As a matter of fact you may end up selling your home quicker simply because there aren’t many homes available for sale and that the buyers braving the cold and looking for a house are SERIOUS!!!

For more tips and information check out my website at:
GTA Real Estate

MLS Commission Rates

Woodland Trails Real Estate Oakville

Laminate flooring throughout the condo suite, built-in wall to wall closet in living room for extra storage. This listing won’t last long. Act NOW! Contact listing agent for showings.

Pinnacle Condo
Ultra Ovation
Limelight Condos
145 Hillcrest Condos

Rental price: $1575 / month includes maintenance and taxes.

Condominiums first step to homeownership

in most major centres, says RE/MAX

Mississauga, ON (November 1, 2010) –

condominium apartments and towns have now emerged as the first step to homeownership, says

RE/MAX Ontario-Atlantic Canada.

Affordability has fuelled buying activity across the board, according to the 2010 RE/MAX Condominium

Report, highlighting trends and developments in eight Ontario markets and one in Nova Scotia.

Condominiums now represent one in every three homes sold in the Greater Toronto Area; close to one

in every four homes sold in Ottawa and Hamilton-Burlington; and almost one in every five homes sold in

London, Kitchener-Waterloo, and Collingwood. The trend has translated into a solid upswing in unit

sales activity, with 78 per cent of markets posting an increase in year-to-date sales (January –

September 2010 vs. 2009)—with percentage gains outperforming overall residential sales in most

markets examined.

“As one of few affordable housing options available to first-time buyers, the concept is poised for

dramatic growth in years to come,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-

Atlantic Canada. “The lifestyle has also gained a foothold with younger, hipper audiences, as the

definition of homeownership evolves with the changing demographic. Dreams of the small home with a

white picket fence are being replaced by the funky loft apartment in close proximity to shops,

restaurants, and entertainment.”

- more -

Market 2010 2009 % +/-

Ottawa 2,799 2,501 11.9%

Thunder Bay 48 50 -4.0%

Collingwood* 246 230 6.9%

Barrie 236 234 0.8%

Greater Toronto 22,499 20,362 10.4%

Hamilton-Burlington 1,969 1,858 6.0%

Kitchener-Waterloo** 811 752 7.8%

London 1,246 1,205 3.4%

Halifax-Dartmouth 562 579 -2.9%

Source: Local Real Estate Boards, RE/MAX

CONDOMINIUM UNIT SALES – YEAR-TO-DATE (SEPT.)

*Georgian Triangle **August Statistics

RE/MAX 2010 Condominium Report…2

Other factors that support an escalation in condominium sales include an expanding population base,

especially in areas like Barrie which saw a 21 per cent increase in the 2006 census. Immigration and inmigration

will also play a role, with at least half of new immigrants settling in Ontario – and more

specifically, the Golden Horseshoe. Urban renewal and intensification also add to the mix, drawing

younger purchasers to the downtown core of major urban centres.

While the greatest activity continues to occur in the lower price points—under $200,000 in areas like

Ottawa, Barrie, and London and under $300,000 in Toronto and Collingwood—luxury product is also

attracting more affluent empty-nesters and retirees to the maintenance-free lifestyle. Condominium

sales in the GTA over the $1,000,000 price point have seen a 49 per cent increase year-over-year, while

condos priced in excess of $450,000 in Ottawa have seen sales jump 72 per cent compared to the same

period in 2009.

Investors are also an active part of the equation, spurring demand for entry-level resale product in

college and university towns like London, Kitchener-Waterloo, and Barrie—in the hopes of cashing in on

student housing. New construction in major centres has also experienced an increase in investment

activity—with the vast majority of units in Toronto’s downtown core purchased by Asian and Middle

Eastern investors as a long-term hold.

“Unlike 1989, when a flood of new condominium listings wreaked havoc on the market, these

purchasers are in for the long haul,” says Polzler. “Leverage is not a factor, with most paying cash for

their units. If they can’t sell their apartments, they’re more than prepared to rent them out. “

RE/MAX is Canada’s leader with over 18,000 sales associates situated throughout its more than 690

independently-owned and operated offices in Canada. The RE/MAX network, now in its 37

th

New Condos in Mississauga