REDISCOVER REAL ESTATE

Realtors riled by condo crush

Location, location, location. The mantra of many a real estate agent and quite possibly the most important factor in property development, and also it seems in actually purchasing a condo. Such was the case Wednesday as competing real estate agents positioned themselves for the sales release of a new downtown Toronto condominium called X2.

Agent only pre-sales are common in the condominium industry, either by invitation, on a first come first serve basis or a combination of the two. In this case, one group of agents has been lining up for this release since Nov. 15. to get ahead of the competition.

Sonny Shang of HomeLife Landmark Realty Inc.appeared to be the de facto leader of the group by virtue of his position on the list. He and his group were unhappy at being usurped at the last minute by other agents who arrived late last night and lined up closer to the entrance to the hotel. >> full article

The race to build a Pan Am Games village has begun!

With five short years to get ready, the urge to cut corners must be kept in check. With the recent announcement that Toronto will host the 2015 Pan American Games, the ongoing transformation of Hogtown's lakeside wastelands into living urban fabric may have gotten a serious kick in the right direction. Or maybe not. A great deal remains to be seen. I'll set out my apprehensions in a moment.

Staging the event will require a secure central location where 8,500 athletes and officials from across the Pan American world can live comfortably, train, practise and relax for the duration of the games. The winning bid included a scheme, drafted by the Toronto firm regional Architects, for a new, purpose-built village to house this large group of people. (The designers estimate that the Pan Am village will house a population three times the size of the crowd of competitors expected to turn out for Vancouver's 2010 Olympics.) This mixed-use development will go up in the now-vacant West Don Lands, one of the parcels overseen by Waterfront Toronto, the crown corporation charged with turning former industrial properties into livable pieces of city.  >> full article

How may I help you today?

_____________________________________________

b r i a n m a y e r real estate sales representative

Royal LePage Your Community Realty Brokerage

independently owned and operated

187 King St. East Toronto, ON. M5A 1J5

(416)-637-8000

Helping You is What We Do.

A referral remains the highest compliment I can receive.

www.brianmayer.ca

GTA REALTORS® Report Mid-Month Resale Housing Market Figures.

November 18, 2009 -- In the first two weeks of November, Greater Toronto REALTORS® reported 3,666 sales – up 84 per cent compared to the first two weeks of November 2008. The average price for these transactions was up 10 per cent year-over year to $415,066. See Details.

How may I help you today?

______________________________________________

b r i a n m a y e r real estate sales representative

Royal LePage Your Community Realty Brokerage

independently owned and operated

187 King St. East Toronto, ON. M5A 1J5

(416)-637-8000

Helping You is What We Do.

A referral remains the highest compliment I can receive.

www.brianmayer.ca

 

 

Home sales show another gain.

The Canadian Real Estate Association boosted its home sales forecast for the year by 6.6 per cent, and projected average prices will climb 4.2 per cent to a record $317,900. The group, which tracks sales via its MLS, expects 460,200 units will sell in 2009. Earlier this year, it expected the year to be flat. The new forecast puts housing sales on pace to match levels seen in 2004, but below 2005 through 2007. Meanwhile, housing sales in October rebounded 41 per cent from a year ago, setting new records in Toronto, Montreal and Ottawa.

 
All of which begs the question: Is there a housing bubble? Many economists reject this notion, although Scotia Capital said today this is probably the case. "But low rates, mortgage innovation and a relative shortage of new supply are likely to keep it going for a while yet," said Scotia economists Karen Cordes and Derek Holt. "… Now that last fall's pent-up demand has been released, the three forces of low interest rates, transferring future sales to the present via mortgage innovation, and modest new supply can keep Canadian housing markets humming for some time yet before the eventuality of a softer market on rising rates in a future relative demand vacuum set in."

Lowe's sees signs of improving real estate market

Some optimistic news this morning from Lowe's Cos., the second-largest home improvement retailer in the United States. True, profit slumped 30 per cent in the quarter to $344-million or 23 cents a share, but the company noted that some of the worst real estate markets are beginning to improve. "We are beginning to see signs of improved performance in some of the hardest-hit housing markets, including California, Florida and areas of the desert Southwest," chief executive officer Robert Niblock said, though he noted that consumers are still delaying big purchases.

Michael Babad - Globe and Mail Update Published on Monday, Nov. 16, 2009 8:59AM EST

A Day of Remembrance

Why Remember?

We must remember. If we do not, the sacrifice of those one hundred thousand Canadian lives will be meaningless. They died for us, for their homes and families and friends, for a collection of traditions they cherished and a future they believed in; they died for Canada. The meaning of their sacrifice rests with our collective national consciousness; our future is their monument.

These wars touched the lives of Canadians of all ages, all races, all social classes. Fathers, sons, daughters, sweethearts: they were killed in action, they were wounded, and thousands who returned were forced to live the rest of their lives with the physical and mental scars of war. The people who stayed in Canada also served - in factories, in voluntary service organizations, wherever they were needed.

Yet for many of us, war is a phenomenon seen through the lens of a television camera or a journalist's account of fighting in distant parts of the world. Our closest physical and emotional experience may be the discovery of wartime memorabilia in a family attic. But even items such as photographs, uniform badges, medals, and diaries can seem vague and unconnected to the life of their owner. For those of us born during peacetime, all wars seem far removed from our daily lives.

We often take for granted our Canadian values and institutions, our freedom to participate in cultural and political events, and our right to live under a government of our choice. The Canadians who went off to war in distant lands went in the belief that the values and beliefs enjoyed by Canadians were being threatened. They truly believed that "Without freedom there can be no ensuring peace and without peace no enduring freedom."

By remembering their service and their sacrifice, we recognize the tradition of freedom these men and women fought to preserve. They believed that their actions in the present would make a significant difference for the future, but it is up to us to ensure that their dream of peace is realized. On Remembrance Day, we acknowledge the courage and sacrifice of those who served their country and acknowledge our responsibility to work for the peace they fought hard to achieve. >> more

Housing Activity to Strengthen in 2010 Says CMHC *

Housing starts have started to recover and are expected to continue to improve in the second half of 2009. Starts are expected to reach 141,900 for the year and will increase to 164,900 for 2010, according to the Canada Mortgage and Housing Corporation.

“We expect housing markets across Canada to strengthen leading into and over the course of 2010 as economic conditions improve”, said Bob Dugan, Chief Economist for CMHC.

“Demand for existing homes has rebounded since the beginning of the year. In addition, lower inventory levels characterize both the new and existing home markets. As a result, stronger housing demand will be reflected in higher levels of housing starts in 2010”, said Mr. Dugan.

The strong pace of MLS® sales seen in the second and third quarters of this year reflects, in part, activity that was delayed in the previous two quarters and is not likely to be sustained. The level of sales is expected to move back closer in line with anticipated economic conditions. As a result, existing home sales, as measured by the Multiple Listing Service (MLS®), will reach 441,300 units in 2009 and increase to 445,150 units in 2010. The average MLS® price is expected to be $312,950 in 2009 and $324,500 in 2010.

_{Source: Canada Mortgage and Housing Corporation fourth quarter Housing Market Outlook, Canada Edition}

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*Today, CMHC remains committed to helping Canadians access a wide choice of safe, quality, affordable homes, and making vibrant and sustainable communities and cities a reality across the country. CMHC is truly home to Canadians. visit website here

Is a condo a good investment?

Condominiums seem like an attractive real estate option, but buyers who don't do their homework could quickly find themselves stuck with a volatile investment and buried under mounting maintenance and unexpected costs.

“Too many Canadians are being seduced by the pretty pictures and stories of easy lifestyle and they end up buying into a building that is a time bomb of costs ...,” says Kurt Rosentreter, a senior financial adviser at Manulife Securities Inc.

In a controversial newsletter, Mr. Rosentreter lays out his position on how, from a financial perspective, condos often don't make good sense. He argues that far from being less expensive than a regular house, urban condos with high property taxes and steep monthly maintenance costs, not to mention unforeseen expenses such as fixing a broken pool valve, can carve a surprisingly big chunk from a person's budget. full story >> 

Globe and Mail Update Published on Monday, Nov. 02, 2009 6:29AM EST

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Condo Info Page        Green Condos Downtown      Find Your Dream Home or Condo

 

How may I help you today?

______________________________________________

b r i a n m a y e r real estate sales representative

Royal LePage Your Community Realty Brokerage

independently owned and operated

187 King St. East Toronto, ON. M5A 1J5

(416)-637-8000

Helping You is What We Do.

A referral remains the highest compliment I can receive.

www.brianmayer.ca