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.

Posted by at No comments:

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.


Posted by at No comments:

Sunday, 23 December 2012

Home Transactins Take A Dip

December Twenty-one, 2012 -- A respectable number of resale home transactions happened across the Bigger Toronto Area in Nov, with 5,793 houses changing hands. This represented a Sixteen % decline from 6,908 sales in Nov 2011. Meanwhile 3,485 houses modified hands in the 905 Regions, a decrease of more than Thirteen percent from 3,956 sales in November 2011. 
A significant factor that has influenced the dip in sales experienced recently relates to the changes in mortgage lending guidelines that came into effect in July. The changes reduced the maximum amortizing duration from Thirty years to 25 years and set a purchase price ceiling for administration backed insured mortgages at 1,000,000 dollars. These laws have resulted in some households putting their call to get on hold while they save up additional cash for a down payment and / or experience a rise in their revenue. 
While sales decreased year-over-year in Nov, a modest overall price increase was reported, with the median price of a GTA home reaching $485,328. Adding to this situation in the City of Toronto is the extra up front Land Transfer Tax, which takes money from home buyers that might otherwise be used to counterbalance the extreme costs of home ownership. This represented an increase of 1.6 % compared against a year ago. 
The 905 Region, with an average cost of $463,779, showed a price increase of 4 per cent compared with a half-percent decrease in the City of Toronto average home price, which was $517,866. 
The pace of typical price growth in Nov was slower than what was experienced for a lot of 2012, particularly in the low-rise segment of the market. This was largely down to the fact the mix of single detached houses sold in the City of Toronto this past November modified relative to last year. Specifically, the amount of homes that sold for over one million dollars was down considerably. 
While the mix of home types sold may have changed, market conditions remained tight for low-rise home types. This is obvious when we consider the MLS Home Price Index ( HPI ) for the GTA. When we have a look at price through this lens, we find that the baseline price for major home types was up by 4.6 per cent in the GTA in total and 3.9 per cent for the City of Toronto. Interest rates remain mostly unchanged, with a five year fixed mortgage rate of a little over 3 per cent continuing to be available. 
Stories on the employment front was positive in Nov, as the Toronto seasonally changed jobless rate decreased to 8.2 per cent, from 8.6 percent the month before. 
At this time of year I'm frequently asked whether it is cautious to list one's home for sale over the holidays, and there are in reality numerous benefits to doing that. Too, houses frequently look their absolute best when they're decorated for the holidays, and an expedient emotional reaction to a property often prompts an offer. 
Call me to talk about the many other factors you need to consider before choosing to make your next move.

Posted by at No comments:

Wednesday, 19 December 2012

TORONTO, December 18 2012 Larger Toronto Area REALTORS reported 2,169

Transactions through the TorontoMLS system in the first 14 days of December 2012. "Stricter mortgage lending laws, including a reduced maximum amortization duration 
And a 1,000,000 dollar purchase price ceiling for government-backed insured Mortgages, seem to have had the effect desired by Finance Minister Jim Flaherty. This number of sales was down by Sixteen per cent compared to the same period In December 2011. Some house purchasers have put their home purchase decision on hold," said Toronto Real Estate Board ( TREB ) President Ann Hannah. "In the Town of Toronto, sales declines have been more pronounced as the results of Stricter mortgage lending laws has been made worse by the City's further upfront Land Transfer Tax," added Hannah. The average selling price in the first fourteen days of December was $471,862, Representing a three percent annual rate of price growth. "Even with the dip in sales since the spring, tight market conditions in the low-rise segment of the market have driven year-over-year average price growth," said Jason 
Mercer, TREB's Senior Manager of Market Analysis. "While the median price for detached houses in the Town of Toronto was down for the First fourteen days of December matched against last year, this dip was due to a different mixture of homes sold this year compared with last. There were less top of the range detached houses Sold compared against last year," continued Mercer.

Posted by at No comments:
Subscribe to: Posts (Atom)

Listing MLS Search

Listing MLS Search

CREA News

Loading...