Home sales forecast to rise 13.3%
The Canadian Real Estate Association (CREA) is predicting existing home
sales will rise 13.3 per cent this year compared to 2009, it said in a
news release Monday.
The industry association predicted sales of 527,300, which would be
a new annual record, up 1.2 per cent from the previous record year of
2007.
CREA expects low interest rates will boost sales in all provinces,
led by Ontario and British Columbia, but that the growth in sales would
slow over the second half as pent-up demand is met, interest rates
rise, and the harmonized sales tax takes effect in Ontario and B.C.
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Finance Minister Jim Flaherty tightens mortgage rules
Finance Minister Jim Flaherty
Tuesday announced tighter lending standards for mortgages, saying that
while the housing market is "healthy" the moves are needed to "help
prevent negative trends from developing."
Under the new rules, all borrowers will need to meet standards for
5-year fixed-rate mortgages regardless of whether they're seeking a
loan with a lower rate and shorter term.
Also, the government is lowering the maximum amount Canadians can
withdraw when refinancing to 90 per cent of the value of their homes,
from the current 95 per cent, and requiring a 20 per cent down payment
for government-backed mortgage insurance on "speculative" investment
properties.
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Building Storeys 2010
at the Gladstone Hotel
Running until April 25th, the Gladstone Hotel is hosting a photo exhibit of Toronto's Industrial Past.
A collaborative effort by Heritage Toronto and members of the
photography groups the Shadow Collective and DK Photo Group,
"Building Storeys" is a visual documentation and anecdotal exhibit of
our city's heritage building and sites. By showcasing some of Toronto's
industrial past we hope to change the perception of heritage in our
city, by revealing some of the hidden beauty of these sites.
It's also a good excuse to visit the Gladstone and peek in to see the great restoration job they've done.
Click here for more details
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Market News
GTA REALTORS® REPORT
JANUARY RESALE HOUSING MARKET FIGURES
TORONTO, February 3,
2010 -- Greater
Toronto REALTORS® reported 4,986 transactions through the Multiple Listing
Service (MLS®) in January 2010. This result represented a large increase over
the 2,670 sales in January 2009 when the home sales were in a recessionary
trough. Last month's sales were slightly higher than the January average in the
five years preceding 2009.
"The GTA housing market has rebounded
well from the lows in sales experienced at the beginning of 2009. Sales climbed back
to healthy levels across the GTA because the cost of home ownership remained
affordable in the Toronto area," said TREB President Tom Lebour.
Click here for the full document
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Sold! Great Semi on quiet street
12 Stanley Avenue
We found this home for our buyers - right at King and Niagara, but tucked away on a quiet sidestreet, three bedrooms, two baths and two kitchens!
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Sold! Restored Gem in Regal Heights
39 Oakwood Avenue
We brought our buyer to this great home!
You Will Not Believe Your Eyes! This Sunfilled Home In Regal Heights
Has Been Restored With Utmost Attention To Detail. Exquisite Blend Of
Old & New, Grand Foyer, Oversized Living And Dining Rooms W/Exposed
Brick Wall, Dramatic Bow Window W/Stained Glass, Gorgeous Open Kit,
Luxurious Bath W/Tumbled Stone, Organized Closets Galore, Spacious Bsmt
W/7 Ft 2 In Ceiling Height, New Floors, Rare Back Mudroom
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Sold! Prime Little Italy -
for 105% of asking!
79 Clinton Street
Detached, 2 Storey, Very Bright Home Has
Windows In Every Room. Original Hardwood Floors Under Broadloom And
Large Principal Rooms.Fenced-In Yard, 2 Car Block Garage, Finished
Basement Has 2 Walk-Outs (Side And Back) And 2 Large Cold Storage
Rooms. Great Family Home. Steps To College Street, Schools, Ttc,
Shopping, Restaurants, Bakeries And So Much More. Click here for the full listing |
The Rental Corner
140 Simcoe St. #1506
Up for lease at $1500/mth University Plaza. Downtown Living At Its Finest. In The Heart Of The
Financial And Entertainment Districts. Attractive One Bedroom Unit With
North Facing Balcony. Locker Included. Laminate Flooring Throughout.
Modern Kitchen Has Stainless Steel/Black Applicances And Granite
Countertop. Click here for the full listing |
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