Sunday 27 January 2013

Get ready prior to your move

You chose the right REALTOR, the right community, and the right home to fit your lifestyle. The terms have been negotiated, the obligatory forms have been finished and all that's left is to pack and unpack the boxes. 

Preparation should begin well in advance of your transaction. If you're selling your current home, make it more desirable and rid your space of unwanted products by recycling, giving, or selling them online. Regardless of who does the packing, ensure you've an inventory list of boxes and their contents. Or, you can enlist a moving company to pack for you, and prepare brief storage at a facility if you want it. 

One box should ideally include cleaning supplies and necessary tools like a general purpose knife, screwdrivers, nails and a hammer. Talking of essentials, prepare a box of all you need for the initial few nights like snacks, drinks, a change of attire, toiletries and pet supplies. 

Housework is mostly needed before you break open the boxes and procrastinating on this step will only add stress in the long-term. Keep in mind though , that cleaning each room on your own also offers a good opportunity to start an inventory of required fix-ups. If you foresee it as a roadblock, employ professional cleaners prior to your move. Tackle them first, beginning by lining the cupboards. Designating the proper individual for the job actually applies to setting up electronics ; do so to ensure precious time isn't wasted. 

Sketch or obtain plans of your new place before your move, and arrange furniture primarily based on them. Take your time organizing these areas to reach the finest possible functionality. 

Garages and storage spaces are underrated vis the seriousness they have in helping a home run efficiently. Depending on the season and your housing type, you might also want to set-up the barbeque so as to cook without making mucky dishes. 

Break down boxes as you empty them and reduce your environmental footprint by reselling or recycling your packing materials where possible. 

Finally, take some time out for walks in your new neighbourhood. Just like efficient emptying, getting involved with neighbors and community events will add to the enjoying of your brand new home.

Thursday 24 January 2013

Bank of Canada - Lending Rate at 1 percent


With previous rate announcements, the BoC kept hinting that our economic engine was engaged and interest rates were ready to go up. Yesterday's surprise was that the BoC seemed to back-pedal and say, "Oooops, we overestimated economic growth, rates won't be going up anytime soon."

As expected, the Bank of Canada held the Overnight Lending Rate at 1 percent.
But we already knew that rates would stay low. At the end of last year, the U.S. Fed. announced it would continue its low-rate strategy until at least 2014. With our two economies closely linked, Canadians were comfortable that our rates would hold steady as well.

While the BoC positioning for continued low rates may seem unduly negative - there should be some happiness in "steady as it goes" for mortgage interest rates.


Thursday 17 January 2013

Release Mid-Month Resale Housing Figures. GTA REALTORS

"The New Year started off on a more encouraging note with home sales slightly above last year's levels," recounted Toronto Real Estate Board ( TREB ) President Ann Hannah. "I am cautiously optimistic about this result. 
"Continuing the trend from 2012, the low-rise portion of the market experienced the strongest price expansion as competition between purchasers stayed quite strong," expounded Jason Mercer, TREB's Senior Manager of Market Analysis. This result represented an increase of 2.4 percent over the 1,435 transactions reported during the same period in 2012. It is going to be important to watch sales trends closely as we move through the 1st quarter to see if some of the households who moved to the sidelines as a result of stricter lending guidelines are starting to renew their call to get a home." 
The average selling price during the first Fourteen days of 2013 was by up by 4 percent on a year-over-year basis to $459,728. "The average selling price is anticipated to grow in 2013, but at a slower pace as purchasers benefit from more choice." .

Friday 11 January 2013

Condo Market Well Supplied in Fourth Quarter

 
TORONTO, January Eleven, 2013 Larger Toronto REALTORS reported 3,830 
Condominium house sales through the TorontoMLS system in the 4th Quarter of 2012. This number represented a decline of Twenty-three percent compared with 5,005 sales during the same time period in 2011. "The condominium apartment|flat|studio} market was the best supplied market segment in 2012. Strong condo studio completions in 2011 and the first few months of 2012 led to a serious number of new listings on the TorontoMLS system last year. 
With more units for buyers to make a choice from, the once a year rate of price growth 
Moderated," recounted Toronto Real estate Board ( TREB ) President Ann Hannah. 
In the condominium apartment rental market, transactions rose by virtually Thirteen per Cent year-over-year in the fourth quarter, while the number of units listed for rent Increased by about Seventeen per cent. Average leases were up on a year-over-year basis for One-bedroom and two-bedroom residences. "While some new buyers put their call to get on hold in the fourth Quarter, many of those folk selected to rent a condo house instead. Similar to the ownership market, robust new apartment completions prompted a substantial increase in the quantity of investor-held units offered to rent. However, 
there had been still enough competition between renters to prompt upward strain on Average rents," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Wednesday 9 January 2013

DECEMBER 2012 HOUSING STARTS IN TORONTO

Toronto, January 9, 2013 - Housing starts in Toronto Census Metropolitan Area were trending At 48,100 units in December, according to Canada Mortgage and Housing Corporation. However, starts for both singles and multiples have been generally trending lower during The last few months," said Shaun Hildebrand, CMHC's Senior Market Analyst for Toronto. 
"December capped off a robust 2012 for housing starts, which were influenced by condo pre-sales During 2011. CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly guesstimates and get a more complete image of the state of the housing market. Occasionally, analysing only SAAR info can be misleading in some markets, as they're principally driven by the multiples segment of the markets which can sometimes be quite variable from one Month to the next. The multiples segment includes apartments|flats|residences}, rows and semi-detached houses. Single detached starts added 976 tangible units while multiple starts totalled 3,291 tangible units in December 2012. Yearend total starts reached 48,105 precise units in 2012, which is before the 39,745 recorded for 2011.


Sunday 6 January 2013

Award-Winning Buildings Are Deserving Of Recognition

Jan 4, 2013 -- In study after study, when referring to engaging in business, branding, reputation, and even friendliness, our country lists among the best the world and as Torontonians, we should be proud of the contribution our town makes to Canada's world standing. 

One key component that fosters our notable global reputation is development, and to recognize some of the city's foremost recently designed commercial buildings Greater Toronto REALTORS hosted a Commercial Building Awards Presentation and Reception Nov 21st at the Toronto Real estate Board. 

In the initial half of this year REALTORS, developers, and designers were invited to designate various types of projects found in the Greater Toronto Area including Green, Economic, Commercial Office, Commercial Residential, Multi-Residential and / or Academic, with one new and one retrofit building being selected to get an award. 

The winning entries were Habitat for Humanity Toronto in the new building category and Birchstone Centre in the retrofit class. 

A board of judges comprised of pro engineer Mitch Gascoyne, REALTOR Phil Nanavati and professional quantity surveyor Paul Westbrook evaluated projects, which were finished between January 2009 and Nov 2011, based on various criteria , such as sensitivity to the environment, design and innovation, and success in responding to a particular developmental need locally. 

Habitat for Humanity Toronto, found at 155 Bermondsey Road, took top marks for its inventive approach to serving a variety of different functions and its environmentally viable design. The new facility includes the organization's Home Building Factory, training facility, Revive East York and administrative office all under a single roof. It is also LEED Silver Certified, meaning it meets stringent standards in building environmental supportability. 

Local historian Mike Filey served as the event's keynote speaker. They include : Yorkdale Centre, Tyler Mews, Cushman and Wakefield Toronto East, CSREFI Canada Leaseholds Incorporated and Liberty Plaza. A highly regarded author, tour guide and radio host, Mr. 

The success of this event would not have been possible without the commitment of REALTORS who volunteered their time to help in arranging it. Filey offered unique revelations into Toronto's past. Many actually also contribute to a better Toronto by volunteering their time to support various efforts in communities across the GTA. 

Designations for the second Annual Commercial Building Awards will be sought in 2013, with a reception and presentations to be held in Winter 2014. 

If you know of a building that you suspect merits recognition, I encourage you to share your thoughts with a Greater Toronto REALTOR and for the latest information on our city's home market visit TorontoRealEstateBoard.com 

Ann Hannah is President of the Toronto Real estate Board, a pro organisation that represents 35,000 REALTORS in the Greater Toronto Area.

January 4, 2013 Greater Toronto Area REALTORS


TORONTO, January 4, 2013 -- Greater Toronto Area REALTORS reported 3,690 sales through the TorontoMLS system in December 2012 down from 4,585 sales in December 2011. Total sales for 2012 amounted to 85,731 down from 89,096 transactions in 2011. 

"The number of transactions in 2012 was quite robust from a historic point of view. We saw powerful year-over-year growth in sales in the initial half of the year, but this growth was more than offset by sales falls in the 2nd half. Stricter mortgage lending guidelines resulted in some households postponing their acquisition of a home. 

The average selling price in December 2012 was up by 6.5 per cent year-over-year to $478,739. The average selling price for 2012 as a whole was up by just about seven % to $497,298. Price expansion was strongest for low-rise houses, including singles, semis and townhouses. 

"Robust annual rates of price expansion were reported thru most months of 2012. In spite of a dip in sales, market conditions remained tight for these home types with substantial competition between buyers," said TREB's Senior Chief of Market Analysis Jason Mercer.


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