Get Representation. Dealing directly with the bank is extremely risky. If you are going to be looking at foreclosures, find an agent you trust and sign a buyer’s representation contract. Then that REALTOR is working for you! When I represent a buyer, it costs nothing to that buyer because my commission is paid for by the seller. I can help a buyer understand if the list price by the bank is a fair price for the property and in its current condition.
When you find that perfect foreclosure, I, as your agent, assist you in putting together the best offer for the situation and negotiate on your behalf. Good homes are seeing multiple offers. If you find an almost perfect foreclosure, chances are several other buyers will like the home too. A listing agent is working for the bank. Don’t you think you deserve to have a professional REALTOR working directly for you?
Get Ready to Waive Goodbye to your Right to a Disclosure. Ontario does not require that the seller of a home disclose all known defects to the property. The banks will require you to sign a waiver to the disclosure where you will waive your rights to receiving a homeowner’s disclosure. This is not negotiable as the bank representative did not live at the home and does not have any way of knowing the condition of the property.
Inspections are Critical. Buying a foreclosed home means buying a home in AS-IS condition. That means the bank will not warranty that anything in the home is working and will not make repairs to any part of the home. A complete home inspection is designed to give you a picture of the current condition of the property and if any major repairs will be required to make the home habitable.
The additional expenses to Repair and Maintain. You might have made a great deal in buying the foreclosure, but what condition is it in. The inspection can only see what is visible, not hidden. The bank has given you the mortgage but have you factored in the additional costs to repair a home that was neglected. What if the furnace breaks down, the roof leaks, the appliances that seemed to be in good working order were really on their last legs?
Don’t Overlook Traditional Sellers. Homes being sold by a traditional home seller in this buyer's market are in most cases priced to sell! This is good news buyers. Sellers understand they are competing with banks that have only a financial not emotional interest in the property. So homeowners needing to sell have to check their emotions at the door and price their home accordingly. A lovingly maintained property with where a seller is obligated to answer your questions about any leaks, mould, age of appliances, exhisting warranties, etc., at a rock bottom price could still be the best deal for a buyer.
If you are buying, selling or relocating to Toronto and need help from a professional REALTOR®, who is WORKING FOR YOU give me a call (416) 488-7875 and ask for Diane Plant or visit my website. I know Toronto.
Tuesday, December 30, 2008
Sunday, December 21, 2008
Isn't this the craziest weather?
It started Friday with that awful snow storm. People were stranded all over the city-in bus terminals, airports, subways, malls and on the roads. Businesses and schools closed early.
Saturday was beautiful. The major roads were clear but the Holiday shopping made moving about Toronto hectic.
Sunday had its ups and downs with the snow. We woke up to snow covered roads and driveways again. It turned sunny in the early afternoon and then the sky darkened and the snow blew in furiuosly again. It's 4:00 p.m. and all is calm once again.
This year we decided to finally get a snowblower, after 10 years of trying to make that decision. Last year did us in. Shovelling out 6 times in one day-that was enough. Well we have 110 ft of driveway and it gets cleared out now in about 15 minutes with the heaviest snow. This was the best investment.
We are babysitting our pug-shitsu/beagle "grandchildren". They are having a blast in the snow. We put on their hoodies and off they go.
I must say cudos to the people who work for the city-they are clearing our roads in record time.
Saturday was beautiful. The major roads were clear but the Holiday shopping made moving about Toronto hectic.
Sunday had its ups and downs with the snow. We woke up to snow covered roads and driveways again. It turned sunny in the early afternoon and then the sky darkened and the snow blew in furiuosly again. It's 4:00 p.m. and all is calm once again.
This year we decided to finally get a snowblower, after 10 years of trying to make that decision. Last year did us in. Shovelling out 6 times in one day-that was enough. Well we have 110 ft of driveway and it gets cleared out now in about 15 minutes with the heaviest snow. This was the best investment.
We are babysitting our pug-shitsu/beagle "grandchildren". They are having a blast in the snow. We put on their hoodies and off they go.
I must say cudos to the people who work for the city-they are clearing our roads in record time.
Friday, December 12, 2008
Its a Buyers market! Now is the time to make your dreams come true
The housing market is historically cyclical. Every phase of continued price increases has been followed by a period of declining values. The last up cycle was from 1983 to 1989. It’s therefore not surprising that after the boom of the last 11 years, we’re currently experiencing a housing market correction. In most parts of the country, the days of being able to profit from buying and selling a property quickly is over, at least for a while. Owning a home and building equity in real estate is likely to remain a sound long-term investment.
We are now experiencing a “buyer’s market.” What is a “buyer’s market”? Simply put- a market in which there is a greater supply of homes for sale than buyers who want to buy. For the first time since 1997 buyers do not have to rush into a buying frenzy and make irrational decisions in “bidding wars”. There are now more homes on the market in all neighbourhoods than there are buyers prepared to make offers. The number of days a home is on the market has been increasing causing declining sales figures over previous months. Qualified homebuyers are in an enviable position to negotiate.
Almost 85% of first-time buyers today start a home search online. However, many buyers are unaware that the data and websites they are viewing could be outdated. Now is the time to sign your self up with an experienced professional Realtor who has previously worked in this kind of market. Along with your Realtor, do your homework. Ask your agent to include your e-mail address on their database so you can receive daily MLS listings, both new and reduced prices, thereby gaining access to the same information agents receive though out the day. I offer this great service directly to my buyers that fit their personalized search criteria. This service truly saves the buyer from driving all over the place, wasting precious gas, and educates you about the current Toronto and Greater Toronto Area real estate market inventory.
If you are considering purchasing a home, this could be your golden opportunity! Here are some solid reasons why you have an advantage:
1) Pre-qualified buyers.
If you do not have a mortgage specialist-ask your realtor for a referral. When you start your home search you will know exactly what you are pre-qualified to spend and will only look at those properties that fall within that range and you don't waste your time being overwhelmed by the choices. You can offer on a home with confidence that the mortgage will be approved (if the house is appraised by the bank at or below what you offered).
2) Lower interest rates
Today’s long-term fixed mortgage rates are low. The Bank of Canada once again dropped it’s prime rate once again on December 10 to 3.5%. Todays historically low interest rates mean you’ll benefit from increased buying power. It is also a good time to take out a variable mortgage rate because interest is fluctuating and you benefit when it goes down.
3) First-time buyers who don't have a home to sell.
A back up of inventory is partially responsible for the big slow down. If you as a the first-time home buyer can get over your fear and confusion about what " the market" is doing, you not only will help yourself by purchasing a home, but you will be part of the overall solution to help correct this market.
4) This is a true buyers market
the best in 11 years! Decide on area, and must have amenities before looking at homes. This will save you from becoming exasperated by the experience. Now is the time you will be able to buy in areas that you thought you were never going to be able to afford in a “bidding war” market. It also means you can afford to be more discriminating and take the time to find a home with all of the features that you are looking for.
Sellers are often ready and willing to " make a deal" in many cases, regardless of the asking price. This translates to out of pocket money you might not save in a different market. You can ask sellers to take back a mortgage, and get creative in contract inclusions such as appliances and repairs required as outlined in the home inspection.
5) New Home Builders Sales incentives
Many builders are beginning to offer incentives to lure buyers. They do not want to be sitting on inventory. In some cases, they’re offering price discounts or complimentary extras such as granite kitchen countertops, custom cabinetry, upgraded carpeting, top of the line appliances and gourmet kitchens.
The fundamentals of the Canadian economy and today’s buyer’s market suggest that now is an excellent time for prospective buyers to explore opportunities to buy a new home.
The bottom line is that buyers have never had a wider selection than they do now, besides the ability to buy a home at prices that are considered by many to be quite affordable. It’s hard to say how much the housing prices will decline. Whether home prices continue to decline or go back up, this may be the best time for homebuyers.
Follow your Dreams, not the market! Will you regret not buying your first home in this down market? Will you be comfortable buying later in a potentially rising market? My professional advice is to seize the opportunity and do what is best for you and your family. Don't try to second-guess the market. Create your own economy by enjoying the incredible ongoing benefits, pride and enjoyment of home ownership. It is the Canadian dream. Make your dream a reality. It's truly your market! Confer with your agent, explore the market, then buy, buy, buy!
We are now experiencing a “buyer’s market.” What is a “buyer’s market”? Simply put- a market in which there is a greater supply of homes for sale than buyers who want to buy. For the first time since 1997 buyers do not have to rush into a buying frenzy and make irrational decisions in “bidding wars”. There are now more homes on the market in all neighbourhoods than there are buyers prepared to make offers. The number of days a home is on the market has been increasing causing declining sales figures over previous months. Qualified homebuyers are in an enviable position to negotiate.
Almost 85% of first-time buyers today start a home search online. However, many buyers are unaware that the data and websites they are viewing could be outdated. Now is the time to sign your self up with an experienced professional Realtor who has previously worked in this kind of market. Along with your Realtor, do your homework. Ask your agent to include your e-mail address on their database so you can receive daily MLS listings, both new and reduced prices, thereby gaining access to the same information agents receive though out the day. I offer this great service directly to my buyers that fit their personalized search criteria. This service truly saves the buyer from driving all over the place, wasting precious gas, and educates you about the current Toronto and Greater Toronto Area real estate market inventory.
If you are considering purchasing a home, this could be your golden opportunity! Here are some solid reasons why you have an advantage:
1) Pre-qualified buyers.
If you do not have a mortgage specialist-ask your realtor for a referral. When you start your home search you will know exactly what you are pre-qualified to spend and will only look at those properties that fall within that range and you don't waste your time being overwhelmed by the choices. You can offer on a home with confidence that the mortgage will be approved (if the house is appraised by the bank at or below what you offered).
2) Lower interest rates
Today’s long-term fixed mortgage rates are low. The Bank of Canada once again dropped it’s prime rate once again on December 10 to 3.5%. Todays historically low interest rates mean you’ll benefit from increased buying power. It is also a good time to take out a variable mortgage rate because interest is fluctuating and you benefit when it goes down.
3) First-time buyers who don't have a home to sell.
A back up of inventory is partially responsible for the big slow down. If you as a the first-time home buyer can get over your fear and confusion about what " the market" is doing, you not only will help yourself by purchasing a home, but you will be part of the overall solution to help correct this market.
4) This is a true buyers market
the best in 11 years! Decide on area, and must have amenities before looking at homes. This will save you from becoming exasperated by the experience. Now is the time you will be able to buy in areas that you thought you were never going to be able to afford in a “bidding war” market. It also means you can afford to be more discriminating and take the time to find a home with all of the features that you are looking for.
Sellers are often ready and willing to " make a deal" in many cases, regardless of the asking price. This translates to out of pocket money you might not save in a different market. You can ask sellers to take back a mortgage, and get creative in contract inclusions such as appliances and repairs required as outlined in the home inspection.
5) New Home Builders Sales incentives
Many builders are beginning to offer incentives to lure buyers. They do not want to be sitting on inventory. In some cases, they’re offering price discounts or complimentary extras such as granite kitchen countertops, custom cabinetry, upgraded carpeting, top of the line appliances and gourmet kitchens.
The fundamentals of the Canadian economy and today’s buyer’s market suggest that now is an excellent time for prospective buyers to explore opportunities to buy a new home.
The bottom line is that buyers have never had a wider selection than they do now, besides the ability to buy a home at prices that are considered by many to be quite affordable. It’s hard to say how much the housing prices will decline. Whether home prices continue to decline or go back up, this may be the best time for homebuyers.
Follow your Dreams, not the market! Will you regret not buying your first home in this down market? Will you be comfortable buying later in a potentially rising market? My professional advice is to seize the opportunity and do what is best for you and your family. Don't try to second-guess the market. Create your own economy by enjoying the incredible ongoing benefits, pride and enjoyment of home ownership. It is the Canadian dream. Make your dream a reality. It's truly your market! Confer with your agent, explore the market, then buy, buy, buy!
Wednesday, December 10, 2008
Toronto's new Land Transfer Tax has negative impact on City economy
On February 1, 2008, the City of Toronto imposed a Land Transfer Tax (LTT) on the sale of real estate within its municipal boundaries. This LTT requires that buyers pay a tax of about 1.1 percent on the purchase of a house in Toronto.
In the December 2008 report by C.D. Howe Institute their recent study says:
"We assess the effects of the LTT on the volume of sales and on prices using data on the sale of single-family homes in the Greater Toronto Area between January 2006 and August 2008. Our data show that the LTT caused a 16 percent decline in the number of single-family homes sold after January 2008 and a 1.5 percent reduction in house values. We calculate that in its first year, the LTT will cause a reduction in household mobility – at least 3,500 families in the municipality of Toronto will stay in houses from which they would have otherwise moved – and an average reduction in selling price of about $6,400 per house.
The reduction in household mobility means that families will be more likely to remain in houses that are too big or too small, or are too far from their workplace or school. The dollar value of this lost mobility is about $1 for every $13 of revenue that the LTT generates for Toronto’s coffers, or about $12 million per year. We also find that the LTT has led to significant new administrative expenses.". to read this report in full -visit http://www.cdhowe.org/pdf/commentary_277.pdf
Land Transfer Tax Has Impacted Economy as reported by the Toronto Real Estate Board
A separate study conducted for the Canadian Real Estate Association determined that every re-sale housing transaction pumps $33,425 of spin-off consumer spending into the economy on things like renovations, furniture, and appliances. This means that, by causing a loss of 5,000 sales, the Toronto Land Transfer Tax has cost the City’s economy about $170 million.
The analysis expects the Land Transfer Tax to continue having a negative impact on Toronto’s real estate markets, which is why it is important for everyone to fight this tax now and over the long-term. THE NEXT MUNICIPAL ELECTION WILL BE CRITICAL. TREB is getting ready and is coordinating REALTORS® that want to get involved. Let's all get invlolved.
Call or email your City of Toronto Councillor and Mayor David Miller E-mail: mayor_miller@toronto.ca and let them know how upset you are with the decision they made to increase the tax and let's get the decision reversed.
In the December 2008 report by C.D. Howe Institute their recent study says:
"We assess the effects of the LTT on the volume of sales and on prices using data on the sale of single-family homes in the Greater Toronto Area between January 2006 and August 2008. Our data show that the LTT caused a 16 percent decline in the number of single-family homes sold after January 2008 and a 1.5 percent reduction in house values. We calculate that in its first year, the LTT will cause a reduction in household mobility – at least 3,500 families in the municipality of Toronto will stay in houses from which they would have otherwise moved – and an average reduction in selling price of about $6,400 per house.
The reduction in household mobility means that families will be more likely to remain in houses that are too big or too small, or are too far from their workplace or school. The dollar value of this lost mobility is about $1 for every $13 of revenue that the LTT generates for Toronto’s coffers, or about $12 million per year. We also find that the LTT has led to significant new administrative expenses.". to read this report in full -visit http://www.cdhowe.org/pdf/commentary_277.pdf
Land Transfer Tax Has Impacted Economy as reported by the Toronto Real Estate Board
A separate study conducted for the Canadian Real Estate Association determined that every re-sale housing transaction pumps $33,425 of spin-off consumer spending into the economy on things like renovations, furniture, and appliances. This means that, by causing a loss of 5,000 sales, the Toronto Land Transfer Tax has cost the City’s economy about $170 million.
The analysis expects the Land Transfer Tax to continue having a negative impact on Toronto’s real estate markets, which is why it is important for everyone to fight this tax now and over the long-term. THE NEXT MUNICIPAL ELECTION WILL BE CRITICAL. TREB is getting ready and is coordinating REALTORS® that want to get involved. Let's all get invlolved.
Call or email your City of Toronto Councillor and Mayor David Miller E-mail: mayor_miller@toronto.ca and let them know how upset you are with the decision they made to increase the tax and let's get the decision reversed.
Monday, October 27, 2008
Toronto Real Estate-Why Wonderful Homes Do Not Sell.
Your home is fabulous, in a great location, up until now it's been sitting on the market for many weeks with little or no interest. You are getting very disheartened. What can you do?
Real estate is an inconsistent business with markets fluctuating according to the economy, interest rates and supply and demand. The general market aside, there could be other reasons why your terrific home has not sold.
The number one reason excellent homes do not sell is because they are overpriced. Setting a sale price for your home is a complex business. You want to get the maximum possible return on the sale without turning off potential buyers with an exaggerated price.
As this article is being written, home prices in Toronto are down approximately 20% year to date. Home sellers must price their home for today’s market if they are genuine about selling. An initial high price will drive away potential buyers put off by an over-valuation of your home. They will think your home is simply out of range, or that you are being greedy or unrealistic in your thinking.
It is important to price your house according to the market in which it is located. For example, a house located near hydro towers or backing onto a railway line may sell for less than and identical house situated in a nearby area without these adverse facilities.
Additionally, if there are a lot of homes for sale in your neighborhood, it becomes a buyers' market and you will not be able to obtain the price you think you should get if your neighbors are willing to go lower.
Finally, there are trade-offs when selling your house: a lower price usually means a larger group of potential buyers and a faster sale, while a higher price means a smaller market of potential buyers and a slower sale. The current market conditions, CMA) as presented to you by your realtor determine the price you should ask for your home. If you overprice it, you must be prepared to wait to get it or reduce it in time.
Another reason your house may not be selling is exposure. Are you trying to sell it yourself? If so, it may be difficult to arrange showings around your work and family schedule, you do not want to pay the cost of advertising, you are hoping someone will drive by and call, to name a few obstacles, therefore limiting the potential for a sale. Listing your home with a realtor will give you the exposure you need to sell your home and the professional feedback. Not only does a realtor have more flexibility in showing your home, he or she will also advertise the house, list it on the widely used MLS (Multiple Listing Service) website, their own website, and that of their company’s. A realtor will also do open house and is an objective party to hear what people are saying when they come through.
A realtor will attract buyers because of a photo on the MLS listing, the internet website, advertising, emails to other realtors, open houses, a professional sign on the front lawn or feature sheets.
Other matters to consider include:
· Does your home look neat and welcoming from the street? Enhancing your exterior appeal will increase your chance of a buyer being interested. It is in good repair? Just like with photographs, your home is judged on its appearance from the road.
· Is your house clean and neat? This is vital to making a strong impression on potential buyers. Clutter is not desirable, so take time to sift through your belongings and get rid of the stuff you don't need or want. Throw out the junk and donate the rest of your unwanted possessions to charity. Even after going through your things, you may have too much stuff in plain view.
Make your closets and cabinets look spacious, and if there is too much, buy some plastic containers and store the stuff you don't use very often in the tubs, which you can stack neatly in a corner in the basement. This will improve the look of your home and it will be packed already for your move.
· Update your interior decorating to enhance the attraction of your home. Replace old flooring, apply new paint, and add a slip cover to your or unstylish furniture. Changing the doorknobs in your kitchen and bathrooms is a great way to modernize its look without spending a lot of money. Remove stained or foul smelling carpet. Hardwood flooring found in good condition underneath the carpet is an added bonus.
· Odour management. Not everyone loves our pets as we do. Make sure the kitty litter box is fresh (and out of the way!), and that hair and musty pet blankets are out of sight. If your pet has soiled the carpet, it should be professionally cleaned or removed.
Toronto residential real estate has become a buyer’s market. It is still strong and it is still a great time to by with mortgages remaining low.
Real estate is an inconsistent business with markets fluctuating according to the economy, interest rates and supply and demand. The general market aside, there could be other reasons why your terrific home has not sold.
The number one reason excellent homes do not sell is because they are overpriced. Setting a sale price for your home is a complex business. You want to get the maximum possible return on the sale without turning off potential buyers with an exaggerated price.
As this article is being written, home prices in Toronto are down approximately 20% year to date. Home sellers must price their home for today’s market if they are genuine about selling. An initial high price will drive away potential buyers put off by an over-valuation of your home. They will think your home is simply out of range, or that you are being greedy or unrealistic in your thinking.
It is important to price your house according to the market in which it is located. For example, a house located near hydro towers or backing onto a railway line may sell for less than and identical house situated in a nearby area without these adverse facilities.
Additionally, if there are a lot of homes for sale in your neighborhood, it becomes a buyers' market and you will not be able to obtain the price you think you should get if your neighbors are willing to go lower.
Finally, there are trade-offs when selling your house: a lower price usually means a larger group of potential buyers and a faster sale, while a higher price means a smaller market of potential buyers and a slower sale. The current market conditions, CMA) as presented to you by your realtor determine the price you should ask for your home. If you overprice it, you must be prepared to wait to get it or reduce it in time.
Another reason your house may not be selling is exposure. Are you trying to sell it yourself? If so, it may be difficult to arrange showings around your work and family schedule, you do not want to pay the cost of advertising, you are hoping someone will drive by and call, to name a few obstacles, therefore limiting the potential for a sale. Listing your home with a realtor will give you the exposure you need to sell your home and the professional feedback. Not only does a realtor have more flexibility in showing your home, he or she will also advertise the house, list it on the widely used MLS (Multiple Listing Service) website, their own website, and that of their company’s. A realtor will also do open house and is an objective party to hear what people are saying when they come through.
A realtor will attract buyers because of a photo on the MLS listing, the internet website, advertising, emails to other realtors, open houses, a professional sign on the front lawn or feature sheets.
Other matters to consider include:
· Does your home look neat and welcoming from the street? Enhancing your exterior appeal will increase your chance of a buyer being interested. It is in good repair? Just like with photographs, your home is judged on its appearance from the road.
· Is your house clean and neat? This is vital to making a strong impression on potential buyers. Clutter is not desirable, so take time to sift through your belongings and get rid of the stuff you don't need or want. Throw out the junk and donate the rest of your unwanted possessions to charity. Even after going through your things, you may have too much stuff in plain view.
Make your closets and cabinets look spacious, and if there is too much, buy some plastic containers and store the stuff you don't use very often in the tubs, which you can stack neatly in a corner in the basement. This will improve the look of your home and it will be packed already for your move.
· Update your interior decorating to enhance the attraction of your home. Replace old flooring, apply new paint, and add a slip cover to your or unstylish furniture. Changing the doorknobs in your kitchen and bathrooms is a great way to modernize its look without spending a lot of money. Remove stained or foul smelling carpet. Hardwood flooring found in good condition underneath the carpet is an added bonus.
· Odour management. Not everyone loves our pets as we do. Make sure the kitty litter box is fresh (and out of the way!), and that hair and musty pet blankets are out of sight. If your pet has soiled the carpet, it should be professionally cleaned or removed.
Toronto residential real estate has become a buyer’s market. It is still strong and it is still a great time to by with mortgages remaining low.
Monday, October 6, 2008
Toronto Events from November to January 2009
Toronto from December 2008 to February 2009
Cavalcade of Lights
November 29 - December, 2008
Venue: Nathan Phillips Square
Website: www.toronto.ca/special_events
Toronto's festive season officially kicks off at the end of November each year with the brilliant illumination of Nathan Phillips Square with more than 100,000 lights, spectacular fireworks and a massive Christmas tree, heralding a month of merry-making and fun events in the city centre. Events include 'Designs in Ice' exhibition, outdoor concerts, street theatre and skating parties. For more information contact Toronto Special Events on (416) 395 0490 or email spevmktg@toronto.ca
Cavalcade of Lights Saturday Night Fireworks
December 6, 13 & 20, 2008
*************************************************************************
Celebrate the Holidays With Us at Casa Loma
The Toronto Star Presents
Sleeping Beauty’s
Enchanted Castle
Friday, November 28, 2008 to Sunday, January 4, 2009
Closed at 1:00 p.m. December 24th and all day December 25th
******************************************************************************
Black Creek Pioneer Village
December 6, 13 & 20th
6:00-9:30 p.m.
Delight in the glow of oil lamps, candle light and innovative gas lighting throughout the Village
Taste real sugar plums, chestnuts & other traditional holiday treats
Crowd around to hear the story telling
Warm yourself with hot apple cider
Try your hand at Victorian games
Sing along with carollers
Learn to make beautiful, old fashioned Christmas decorations
Enjoy unique, ‘save the tax’ shopping all evening in Black Creek’s Gift Shop & Laskay Emporium.
$32/person
$27/person for Black Creek Pioneer Village & Conservation Area Members (taxes included)
To purchase tickets click here.
Christmas By Lamplight Program with Dinner
Half Way House Restaurant, Black Creek Pioneer Village
$81/adult & $58/child (12 and under)
$76/adult & $53/ child for Black Creek Pioneer Village & Conservation Area Members (taxes included)
To purchase tickets and make reservations, please call 416-736-1733 ext.5331
*********************************************************************************
Christmas Treats Walk At the Toronto Zoo
During this annual event Siberian Tigers, Reindeer and other animals receive their seasonal goodies at the Toronto Zoo. Strolling carolers roam the grounds and there's free hot chocolate for everyone.
It's recommended that participants bring a non-perishable food item to help the food bank. Half-price admission to the Zoo is all day. Admission proceeds on this day go to support the Endangered Species Fund.
Please note this in an outdoor event.
Price: General Admission (13-64): $20, Senior (65+): $14, Child (4-12): $12, Child (3 and under): free
*******************************************************************************
Whatever the holiday, the city will generaly have something going on at Nathan Phillips Square. Great ice rink throughout the winter
*********************************************************************************
*********************************************************************************
WinterCity - a 14-day celebration of culture, creativity and cuisine.
January 30 to February 12, 2009
Winterlicious - the ever popular Prix-Fixe promotion, mouth-watering Culinary Events & the new Chef Series.
January 30 - February 12, 2009
In 2009, the WinterCity festival will run from Jan 30 to Feb 12, 2009 with spectacular shows, concerts and surprises for all ages.
*************************************************************************
Cavalcade of Lights
November 29 - December, 2008
Venue: Nathan Phillips Square
Website: www.toronto.ca/special_events
Toronto's festive season officially kicks off at the end of November each year with the brilliant illumination of Nathan Phillips Square with more than 100,000 lights, spectacular fireworks and a massive Christmas tree, heralding a month of merry-making and fun events in the city centre. Events include 'Designs in Ice' exhibition, outdoor concerts, street theatre and skating parties. For more information contact Toronto Special Events on (416) 395 0490 or email spevmktg@toronto.ca
Cavalcade of Lights Saturday Night Fireworks
December 6, 13 & 20, 2008
*************************************************************************
Celebrate the Holidays With Us at Casa Loma
The Toronto Star Presents
Sleeping Beauty’s
Enchanted Castle
Friday, November 28, 2008 to Sunday, January 4, 2009
Closed at 1:00 p.m. December 24th and all day December 25th
******************************************************************************
Black Creek Pioneer Village
December 6, 13 & 20th
6:00-9:30 p.m.
Delight in the glow of oil lamps, candle light and innovative gas lighting throughout the Village
Taste real sugar plums, chestnuts & other traditional holiday treats
Crowd around to hear the story telling
Warm yourself with hot apple cider
Try your hand at Victorian games
Sing along with carollers
Learn to make beautiful, old fashioned Christmas decorations
Enjoy unique, ‘save the tax’ shopping all evening in Black Creek’s Gift Shop & Laskay Emporium.
$32/person
$27/person for Black Creek Pioneer Village & Conservation Area Members (taxes included)
To purchase tickets click here.
Christmas By Lamplight Program with Dinner
Half Way House Restaurant, Black Creek Pioneer Village
$81/adult & $58/child (12 and under)
$76/adult & $53/ child for Black Creek Pioneer Village & Conservation Area Members (taxes included)
To purchase tickets and make reservations, please call 416-736-1733 ext.5331
*********************************************************************************
Christmas Treats Walk At the Toronto Zoo
During this annual event Siberian Tigers, Reindeer and other animals receive their seasonal goodies at the Toronto Zoo. Strolling carolers roam the grounds and there's free hot chocolate for everyone.
It's recommended that participants bring a non-perishable food item to help the food bank. Half-price admission to the Zoo is all day. Admission proceeds on this day go to support the Endangered Species Fund.
Please note this in an outdoor event.
Price: General Admission (13-64): $20, Senior (65+): $14, Child (4-12): $12, Child (3 and under): free
*******************************************************************************
Whatever the holiday, the city will generaly have something going on at Nathan Phillips Square. Great ice rink throughout the winter
*********************************************************************************
*********************************************************************************
WinterCity - a 14-day celebration of culture, creativity and cuisine.
January 30 to February 12, 2009
Winterlicious - the ever popular Prix-Fixe promotion, mouth-watering Culinary Events & the new Chef Series.
January 30 - February 12, 2009
In 2009, the WinterCity festival will run from Jan 30 to Feb 12, 2009 with spectacular shows, concerts and surprises for all ages.
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Toronto Sales for September from the Toronto Real Estae Board
GTA Resale Housing Market Measured in September
October 3, 2008 -- The Greater Toronto Area resale housing market continued at a measured pace through September, Toronto Real Estate Board President Maureen O’Neill announced today.
With 6,424 homes changing hands last month, activity in the GTA declined six per cent compared to the 6,866 sales that took place in September 2007 and declined three per cent compared to the 6,622 transactions that were recorded two years ago.
In the City of Toronto sales were less robust. The 2,546 transactions recorded last month declined 11 per cent from the 2,854 sales in September 2007 and declined five per cent from the 2,680 sales recorded in September 2006. Sales increased six per cent between September 2006 and September 2007.
“We remain concerned about the Land Transfer Tax in the City of Toronto,” said Ms. O’Neill.
In the 905 Region, the 3,878 sales recorded last month were within three per cent of September 2007’s 4,012 transactions, and within two per cent of September 2006’s 3,942 sales. Sales in this region increased two per cent between September 2006 and September 2007.
From a year-to-date perspective, the GTA resale housing market has declined 14 per cent from the 73,827 transactions recorded a year ago. To date, there have been 63,595 sales through the TorontoMLS system this year. In the City of Toronto year-to-date sales have declined 16 per cent from last year’s figure of 30,059 to 25,257 transactions this year. In the 905 Region year-todate sales have declined 12 per cent. So far this year there have been 38,338 sales in the 905
Region compared to 43,768 last year. Prices throughout the GTA however, have remained fairly stable. At $368,549, the average price of a GTA home in September has declined three per cent from $380,132 recorded a year ago.
In the City of Toronto, the current average price of $393,647 declined six per cent from the September 2007 average of $420,182. Compared to the September 2006 average of $371,682 though, prices in Toronto for September 2008 have increased six per cent.
In the 905 Region, the average price of $352,071, increased marginally from the $351,641 recorded in September 2007, and was up five per cent from 2006 September average of $333,818.
“Although the market is not as robust as it was a year ago, homeowners are continuing to see strong returns on their investment,” said Ms. O’Neill. “On average, Sellers are achieving 97 per cent of their asking price.
With the average number of days on market increasing to 36 days from to 31 days a year ago, it is taking slightly longer for homeowners to achieve a sale.
“Even with respect to sales activity, each month we continue to see a handful of neighbourhoods reporting increases compared to a year ago.”
In Scarborough East (E08) transactions increased 22 per cent compared to September 2007 based on strong sales of all housing types.
"Given that these are trying times for the world economy, in context, the Greater Toronto Area resale housing market continues to fare quite well,” said Ms. O’Neill. “From a long-term perspective, buying a home remains a sound financial decision.”
October 3, 2008 -- The Greater Toronto Area resale housing market continued at a measured pace through September, Toronto Real Estate Board President Maureen O’Neill announced today.
With 6,424 homes changing hands last month, activity in the GTA declined six per cent compared to the 6,866 sales that took place in September 2007 and declined three per cent compared to the 6,622 transactions that were recorded two years ago.
In the City of Toronto sales were less robust. The 2,546 transactions recorded last month declined 11 per cent from the 2,854 sales in September 2007 and declined five per cent from the 2,680 sales recorded in September 2006. Sales increased six per cent between September 2006 and September 2007.
“We remain concerned about the Land Transfer Tax in the City of Toronto,” said Ms. O’Neill.
In the 905 Region, the 3,878 sales recorded last month were within three per cent of September 2007’s 4,012 transactions, and within two per cent of September 2006’s 3,942 sales. Sales in this region increased two per cent between September 2006 and September 2007.
From a year-to-date perspective, the GTA resale housing market has declined 14 per cent from the 73,827 transactions recorded a year ago. To date, there have been 63,595 sales through the TorontoMLS system this year. In the City of Toronto year-to-date sales have declined 16 per cent from last year’s figure of 30,059 to 25,257 transactions this year. In the 905 Region year-todate sales have declined 12 per cent. So far this year there have been 38,338 sales in the 905
Region compared to 43,768 last year. Prices throughout the GTA however, have remained fairly stable. At $368,549, the average price of a GTA home in September has declined three per cent from $380,132 recorded a year ago.
In the City of Toronto, the current average price of $393,647 declined six per cent from the September 2007 average of $420,182. Compared to the September 2006 average of $371,682 though, prices in Toronto for September 2008 have increased six per cent.
In the 905 Region, the average price of $352,071, increased marginally from the $351,641 recorded in September 2007, and was up five per cent from 2006 September average of $333,818.
“Although the market is not as robust as it was a year ago, homeowners are continuing to see strong returns on their investment,” said Ms. O’Neill. “On average, Sellers are achieving 97 per cent of their asking price.
With the average number of days on market increasing to 36 days from to 31 days a year ago, it is taking slightly longer for homeowners to achieve a sale.
“Even with respect to sales activity, each month we continue to see a handful of neighbourhoods reporting increases compared to a year ago.”
In Scarborough East (E08) transactions increased 22 per cent compared to September 2007 based on strong sales of all housing types.
"Given that these are trying times for the world economy, in context, the Greater Toronto Area resale housing market continues to fare quite well,” said Ms. O’Neill. “From a long-term perspective, buying a home remains a sound financial decision.”
Sunday, September 14, 2008
St Clair Artwalk and Studio Tour Sept 27 and 28
St Clair Artwalk and Studio Tour takes place all around the St Clair Ave W area. This is year 5. Artwalk features local area residents showcasing their art, music and literary talents.
Be sure to take in the Jazz concert on September 25th at St. Mathews Church, 611 St Clair Ave W. starting at 7:00 pm. You can get tickets at ticketweb.ca or at Ellington's cafe.
Artists will open their studios from 11 am to 4 pm on Saturday and Sunday.
There is an out door art market at the corner of Wychwood Ave and St Clair W. with 25+ artisits are displaying.
St Matthews United Church (on the south side) at 729 St Clair W will host the emerging artists.
St Michaels & All Angels Church (on the south side at Wychwood) at 611 St Clair Ave W. will be home to the outdoor main stage with great sounds of entertainment.
Business along St Clair West will become art galleries showcasing many community artisits.
Please visit Diane Plant's exhibit at 635 St Clair Ave W in the Maple Paints Store. I will be featuring my art "Mini Chairs on Canvas." This is a collection of whimsical, brightly painted mini chairs on canvas arranged in contemporary abstract designs.
Be sure to take in the Jazz concert on September 25th at St. Mathews Church, 611 St Clair Ave W. starting at 7:00 pm. You can get tickets at ticketweb.ca or at Ellington's cafe.
Artists will open their studios from 11 am to 4 pm on Saturday and Sunday.
There is an out door art market at the corner of Wychwood Ave and St Clair W. with 25+ artisits are displaying.
St Matthews United Church (on the south side) at 729 St Clair W will host the emerging artists.
St Michaels & All Angels Church (on the south side at Wychwood) at 611 St Clair Ave W. will be home to the outdoor main stage with great sounds of entertainment.
Business along St Clair West will become art galleries showcasing many community artisits.
Please visit Diane Plant's exhibit at 635 St Clair Ave W in the Maple Paints Store. I will be featuring my art "Mini Chairs on Canvas." This is a collection of whimsical, brightly painted mini chairs on canvas arranged in contemporary abstract designs.
Saturday, September 13, 2008
Toronto Residential Real Estate - Do We Always Expect Multiple Offers?
Do homebuyers and sellers in the Toronto real estate market believe that real estate negotiations are all about multiple offers? It appears that way when I talk to clients. This, however, is not the real world of real estate negotiating. The historical way of trying to make a purchase or sale is by calm discussion between both parties to agree upon a price that is satisfactory to both.
The Toronto market, since the middle of the late 90's took a great upward turn, gathering momentum yearly and almost every home in the central core had a delayed offer date, creating a frenetic market for the sellers and buyers. Few homes had a transaction with only one offer.
When I speak with buyers now, they want to wait to make a purchase because they feel that prices are going down. They do not feel this pent up anxiety to have to make a purchase immediately because the market is too calm for them, something they are not used to. Many buyers today have had only one experience in making an offer, that of bidding on a home that has tough competition, boosting the price way over asking. This left one extremely happy seller, only one happy buyer and many who were disappointed.
This is a great time to make a purchase. Interest rates remain low and stable. You can get a home inspection in a timely manner and make a knowledgeable decision based on excellent information. Negotiations between the seller and buyer are more in tune with a conventional market and purchasing a home now is usually at or below the asking price.
Last year properties were under priced to attract enormous competition. The right asking price for a property is critical this year because most houses are no longer attracting multiple offers. Sellers are advised to list at a price they would be willing to accept or use a realistic starting point for negotiations with a prospective buyer.
The Toronto real estate market is still healthy. Buyers and sellers must not get the impression that we are suffering the same market conditions as our neighbours south of the border. One thing we can say for our Government - we don't allow a zero percent down payment. The federal government has announced reforms aimed at avoiding a U.S. style housing price bubble. Starting Oct. 15, the Finance Department will stop guaranteeing 40-year mortgages and mortgage loans with no down payment. Unconventional mortgages under 20% down are insured through CMHC (Central Mortgage and Housing) and all buyers must qualify for a mortgage based on their income and debt ratio (unless using private financing).
Maureen O'Neill of the Toronto Real Estate Board says "The Toronto Real estate market has experienced a slow down in actual numbers of 7,806 sales of single-family dwellings sold from that of July 2007 figure of 8,912 but the sales were up 10 per cent from July 2006 (7,082).
Furthermore, the sales decrease in July 2008 from July of 2007 was distributed unevenly across the GTA. Within the City of Toronto, the 3,132 sales recorded in July 2008 is down 14 per cent from last July's 3,640 figure but up 10 per cent from the 2,852 sales recorded in July 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
Overall, the GTA average price rose just over one per cent in July 2008 over July 2007 to $371,427 from $366,012, and a nine per cent increase from $342,034 recorded during July 2006.
Once again, price movements differed depending on the part of the GTA involved.
Within City of Toronto boundaries, the increase was marginal (under one per cent) to $395,342 in July 2008 from $395,044 in July 2007 and up 10 per cent from the $360,409 recorded during July 2006".
The Toronto real estate market is strong and now is a great time to buy.
Diane Plant is a Broker with Forest Hill Real Estate, serving the Greater Toronto Area since 1988. She is in partnership with her son, Jeremy Plant, forming Team Plant. Get FREE membership to Team Plant's Preferred Buyer's Club by visiting our website http://www.team-plant.com and click on Buyers.
I invite all comments at diane@team-plant.com
The Toronto market, since the middle of the late 90's took a great upward turn, gathering momentum yearly and almost every home in the central core had a delayed offer date, creating a frenetic market for the sellers and buyers. Few homes had a transaction with only one offer.
When I speak with buyers now, they want to wait to make a purchase because they feel that prices are going down. They do not feel this pent up anxiety to have to make a purchase immediately because the market is too calm for them, something they are not used to. Many buyers today have had only one experience in making an offer, that of bidding on a home that has tough competition, boosting the price way over asking. This left one extremely happy seller, only one happy buyer and many who were disappointed.
This is a great time to make a purchase. Interest rates remain low and stable. You can get a home inspection in a timely manner and make a knowledgeable decision based on excellent information. Negotiations between the seller and buyer are more in tune with a conventional market and purchasing a home now is usually at or below the asking price.
Last year properties were under priced to attract enormous competition. The right asking price for a property is critical this year because most houses are no longer attracting multiple offers. Sellers are advised to list at a price they would be willing to accept or use a realistic starting point for negotiations with a prospective buyer.
The Toronto real estate market is still healthy. Buyers and sellers must not get the impression that we are suffering the same market conditions as our neighbours south of the border. One thing we can say for our Government - we don't allow a zero percent down payment. The federal government has announced reforms aimed at avoiding a U.S. style housing price bubble. Starting Oct. 15, the Finance Department will stop guaranteeing 40-year mortgages and mortgage loans with no down payment. Unconventional mortgages under 20% down are insured through CMHC (Central Mortgage and Housing) and all buyers must qualify for a mortgage based on their income and debt ratio (unless using private financing).
Maureen O'Neill of the Toronto Real Estate Board says "The Toronto Real estate market has experienced a slow down in actual numbers of 7,806 sales of single-family dwellings sold from that of July 2007 figure of 8,912 but the sales were up 10 per cent from July 2006 (7,082).
Furthermore, the sales decrease in July 2008 from July of 2007 was distributed unevenly across the GTA. Within the City of Toronto, the 3,132 sales recorded in July 2008 is down 14 per cent from last July's 3,640 figure but up 10 per cent from the 2,852 sales recorded in July 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
Overall, the GTA average price rose just over one per cent in July 2008 over July 2007 to $371,427 from $366,012, and a nine per cent increase from $342,034 recorded during July 2006.
Once again, price movements differed depending on the part of the GTA involved.
Within City of Toronto boundaries, the increase was marginal (under one per cent) to $395,342 in July 2008 from $395,044 in July 2007 and up 10 per cent from the $360,409 recorded during July 2006".
The Toronto real estate market is strong and now is a great time to buy.
Diane Plant is a Broker with Forest Hill Real Estate, serving the Greater Toronto Area since 1988. She is in partnership with her son, Jeremy Plant, forming Team Plant. Get FREE membership to Team Plant's Preferred Buyer's Club by visiting our website http://www.team-plant.com and click on Buyers.
I invite all comments at diane@team-plant.com
Toronto Residential Sales for August 2008
GTA Resale Housing Remains Steady Throughout Summer Months
September 4, 2008 -- The Greater Toronto resale housing market closed out the last full month of summer at a steady pace, Toronto Real Estate Board President Maureen O’Neill reported today.
The Greater Toronto Area (GTA) average price increased one per cent, to $364,886 when compared to last August’s figure of $361,890. Compared to the $338,192 figure recorded two years ago though, the average GTA has increased eight per cent.
In the City of Toronto the average price declined one per cent to $377,990 from last August’s $381,681. Compared to the August 2006 figure of $344,419 however, the average price in the City of Toronto has increased 10 per cent.
In the 905 Region the average price increased two per cent to $356,657 from last August’s $348,563. Compared to the August 2006 figure of $334,245 the average price in the 905 Region has increased seven per cent.
“These healthy figures substantiate that when undertaken as a long term investment, buying a home is one of the smartest financial moves you can make,” said Ms. O’Neill.
With 6,318 transactions recorded last month, sales in the GTA declined 22 per cent compared to the record August 2007 figure of 8,059. Volumes were off just nine per cent however, from the 6,976 sales recorded in August 2006.
In the City of Toronto, there were 2,437 sales in August, a 25 per cent decline from the 3,243 transactions recorded a year ago.
Compared to the 2,706 sales recorded in August 2006 though, this represents a 10 per cent decline. Sales increased 20 per cent between August 2006 and August 2007
September 4, 2008 -- The Greater Toronto resale housing market closed out the last full month of summer at a steady pace, Toronto Real Estate Board President Maureen O’Neill reported today.
The Greater Toronto Area (GTA) average price increased one per cent, to $364,886 when compared to last August’s figure of $361,890. Compared to the $338,192 figure recorded two years ago though, the average GTA has increased eight per cent.
In the City of Toronto the average price declined one per cent to $377,990 from last August’s $381,681. Compared to the August 2006 figure of $344,419 however, the average price in the City of Toronto has increased 10 per cent.
In the 905 Region the average price increased two per cent to $356,657 from last August’s $348,563. Compared to the August 2006 figure of $334,245 the average price in the 905 Region has increased seven per cent.
“These healthy figures substantiate that when undertaken as a long term investment, buying a home is one of the smartest financial moves you can make,” said Ms. O’Neill.
With 6,318 transactions recorded last month, sales in the GTA declined 22 per cent compared to the record August 2007 figure of 8,059. Volumes were off just nine per cent however, from the 6,976 sales recorded in August 2006.
In the City of Toronto, there were 2,437 sales in August, a 25 per cent decline from the 3,243 transactions recorded a year ago.
Compared to the 2,706 sales recorded in August 2006 though, this represents a 10 per cent decline. Sales increased 20 per cent between August 2006 and August 2007
Friday, August 8, 2008
July 2008 Prices Up, Sales In Line With Seasonal Expectations
August 6, 2008 -- TREB Members reported 7,806 sales of single-family dwellings in July, continuing a healthy but not record setting pace into the summer. “Even though GTA sales were down 12 per cent from the best-ever July 2007 figure of 8,912, sales were up 10 per cent from July 2006 (7,082),” said TREB President Maureen O’Neill.
July 2007 saw a 26 per cent increase in sales over the 7,082 recorded in July 2006. Furthermore, the sales decrease in July 2008 from July of 2007 wasdistributed unevenly across the GTA. Within the City of Toronto, the 3,132 sales recorded in July 2008 is down 14 per cent from last July’s 3,640 figure but up 10 per cent from the 2,852 sales recorded in July 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
In the 905 suburbs sales declined 11 per cent, to 4,674 in July 2008 from 5,272 last July, but increased 10 per cent from the 4,230 sales recorded in July 2006. Sales from July 2007 increased 25 per cent over July 2006.
Overall, the GTA average price rose just over one per cent in July 2008 over July 2007 to $371,427 from $366,012, and a nine per cent increase from $342,034 recorded during July 2006.
Once again, price movements differed depending on the part of the GTA involved.
Within City of Toronto boundaries, the increase was marginal (under one per cent) to $395,342 in July 2008 from $395,044 in July 2007 and up 10 per cent from the$360,409 recorded during July 2006.
In the 905 municipalities surrounding the City of Toronto, however, the average price climbed almost three per cent to $355,401 in July 2008 from the July 2007figure of $345,967 and up eight per cent from $329,644 recorded during July 2006.
Breaking down the total, 3,045 sales were reported in TREB’s 28 West districts and averaged $352,956; 1,349 sales were reported in the 14 Central districts andaveraged $467,743; 1,519 sales were reported in the 23 North districts and averaged $408,815; and 1,893 sales were reported in TREB’s 21 East districts and averaged $301,658.
NEIGHBOURHOOD CORNER
North York
In the first seven months of 2008, North York (C04,C06,C07, and C12 through C15) has seen 4,129 sales, down 19 per cent from the 5,115 recorded during the January to July period of 2007. The price averaged $500,109, up two per cent over the $488,663 recoded during the comparable period last year.
GTA Resale Housing Stable in July
August 6, 2008 -- With 7,806 transactions recorded last month, the Greater Toronto Area (GTA) resale housing market continued at a moderate pace in July, Toronto Real Estate Board (TREB) President Maureen O’Neill announced today.
Prices remained stable throughout the GTA in July. At $371,427 the average price increased slightly more than one per cent from $366,012 recorded in July 2007 and nine per cent from the $342,034 figure of two years ago.
In the City of Toronto the average price of $395,342 increased less than one per cent from the July 2007 price of $395,044 and 10 per cent from the July 2006 figure of $360,409.
In the 905 Region the average price increased three per cent to $355,401 compared to the July 2007 figure of $345,967. This also represents an eight per cent increase from the July 2006 average of $329,644.
“Sales declined 12 per cent last month from the best-ever July 2007 record of 8,912 but increased 10 per cent from the 7,082 sales transacted in July 2006,” said Ms. O’Neill. “Comparing July 2007 with July 2006, sales increased by 26 per cent.”
In the City of Toronto 3,132 sales were recorded, down 14 per cent from July 2007’s 3,640 transactions but up 10 per cent from the 2,852 sales recorded two years ago in 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
In the 905 Region there were 4,674 transactions, down 11 per cent from July 2007’s 5,272 sales but up 10 per cent from the 4,230 sales recorded in July 2006. Comparing July 2007 with July 2006, sales increased 25 per cent.
From a year-to-date perspective, the GTA’s 51,249 sales in 2008 have declined 14 per cent from the 59,339 reached at this time a year ago.
Certain neighbourhoods throughout the GTA experienced increased sales activity in July.
In Whitby (E15) sales increased 22 per cent from July 2007, based on strong sales in most housing types.
Brampton East (W24) saw a 12 per cent increase, based primarily on semi-detached home sales.
Strong detached home sales drove Uxbridge (N16) to a 23 per cent increase compared to a year ago.
The Annex (C02) experienced a 29 per cent sales increase due to strong detached home and condominium apartment sales.
In addition to stable prices, the list to sale price ratio, at 98 per cent, remains unchanged from a year ago.
“While homeowners continue to see healthy returns, it is taking slightly longer to achieve a sale; the average time on market has increased to 33 days compared to 31 days a year ago,” said Ms. O’Neill. “This may be due to that fact that there is now more choice available to homebuyers; there are currently 26,543 active listings, a 28 per cent increase from a year ago.”
July 2007 saw a 26 per cent increase in sales over the 7,082 recorded in July 2006. Furthermore, the sales decrease in July 2008 from July of 2007 wasdistributed unevenly across the GTA. Within the City of Toronto, the 3,132 sales recorded in July 2008 is down 14 per cent from last July’s 3,640 figure but up 10 per cent from the 2,852 sales recorded in July 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
In the 905 suburbs sales declined 11 per cent, to 4,674 in July 2008 from 5,272 last July, but increased 10 per cent from the 4,230 sales recorded in July 2006. Sales from July 2007 increased 25 per cent over July 2006.
Overall, the GTA average price rose just over one per cent in July 2008 over July 2007 to $371,427 from $366,012, and a nine per cent increase from $342,034 recorded during July 2006.
Once again, price movements differed depending on the part of the GTA involved.
Within City of Toronto boundaries, the increase was marginal (under one per cent) to $395,342 in July 2008 from $395,044 in July 2007 and up 10 per cent from the$360,409 recorded during July 2006.
In the 905 municipalities surrounding the City of Toronto, however, the average price climbed almost three per cent to $355,401 in July 2008 from the July 2007figure of $345,967 and up eight per cent from $329,644 recorded during July 2006.
Breaking down the total, 3,045 sales were reported in TREB’s 28 West districts and averaged $352,956; 1,349 sales were reported in the 14 Central districts andaveraged $467,743; 1,519 sales were reported in the 23 North districts and averaged $408,815; and 1,893 sales were reported in TREB’s 21 East districts and averaged $301,658.
NEIGHBOURHOOD CORNER
North York
In the first seven months of 2008, North York (C04,C06,C07, and C12 through C15) has seen 4,129 sales, down 19 per cent from the 5,115 recorded during the January to July period of 2007. The price averaged $500,109, up two per cent over the $488,663 recoded during the comparable period last year.
GTA Resale Housing Stable in July
August 6, 2008 -- With 7,806 transactions recorded last month, the Greater Toronto Area (GTA) resale housing market continued at a moderate pace in July, Toronto Real Estate Board (TREB) President Maureen O’Neill announced today.
Prices remained stable throughout the GTA in July. At $371,427 the average price increased slightly more than one per cent from $366,012 recorded in July 2007 and nine per cent from the $342,034 figure of two years ago.
In the City of Toronto the average price of $395,342 increased less than one per cent from the July 2007 price of $395,044 and 10 per cent from the July 2006 figure of $360,409.
In the 905 Region the average price increased three per cent to $355,401 compared to the July 2007 figure of $345,967. This also represents an eight per cent increase from the July 2006 average of $329,644.
“Sales declined 12 per cent last month from the best-ever July 2007 record of 8,912 but increased 10 per cent from the 7,082 sales transacted in July 2006,” said Ms. O’Neill. “Comparing July 2007 with July 2006, sales increased by 26 per cent.”
In the City of Toronto 3,132 sales were recorded, down 14 per cent from July 2007’s 3,640 transactions but up 10 per cent from the 2,852 sales recorded two years ago in 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
In the 905 Region there were 4,674 transactions, down 11 per cent from July 2007’s 5,272 sales but up 10 per cent from the 4,230 sales recorded in July 2006. Comparing July 2007 with July 2006, sales increased 25 per cent.
From a year-to-date perspective, the GTA’s 51,249 sales in 2008 have declined 14 per cent from the 59,339 reached at this time a year ago.
Certain neighbourhoods throughout the GTA experienced increased sales activity in July.
In Whitby (E15) sales increased 22 per cent from July 2007, based on strong sales in most housing types.
Brampton East (W24) saw a 12 per cent increase, based primarily on semi-detached home sales.
Strong detached home sales drove Uxbridge (N16) to a 23 per cent increase compared to a year ago.
The Annex (C02) experienced a 29 per cent sales increase due to strong detached home and condominium apartment sales.
In addition to stable prices, the list to sale price ratio, at 98 per cent, remains unchanged from a year ago.
“While homeowners continue to see healthy returns, it is taking slightly longer to achieve a sale; the average time on market has increased to 33 days compared to 31 days a year ago,” said Ms. O’Neill. “This may be due to that fact that there is now more choice available to homebuyers; there are currently 26,543 active listings, a 28 per cent increase from a year ago.”
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