Archive for July, 2011

Challenge Issued… Challenge Accepted!

By on July 27, 2011 in Events, Neighbourhoods, Video with 0 Comments

I opened my email this morning to find a message from my office with the subject line, “Realtor Food Bank Challenge“.  Apparently, my brokerage (and a few others in downtown’s west-end) have been publicly challenged by Mark McClean from Bosley Real Estate Ltd. to a food drive for the Parkdale Community Food Bank (check out the video above).  What’s my personal reaction to the challenge?  I think it’s a brilliant idea (good on ya’, Mark!) and I humbly accept.

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Toronto Real Estate Market Report: July 2011 Mid-Month Statistics

Toronto Real Estate Market Report: July 2011 Mid-Month Statistics Photo

Following is TREB’s market report for mid-July 2011:  During the first 14 days of July, Greater Toronto REALTORS® reported an increase in sales and the average selling price compared to the first two weeks of July 2010.  The number of sales through the TorontoMLS® system was up 35 per cent to 3,609, compared to 2,672 last year.

“Low mortgage rates, rising incomes and good news on the jobs front have kept consumers confident in purchasing a home in the Greater Toronto Area.  In fact, home buyers are much more confident than they were this time last year when concerns around the HST, interest rate hikes and new mortgage lending rules had temporarily put a damper on home sales,” said Toronto Real Estate Board (TREB) President Richard Silver.

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How Much Can You Expect To Pay In Land Transfer Taxes?

By on July 13, 2011 in Condos/Lofts, Houses, Mortgages with 1 Comment

How Much Can You Expect To Pay In Land Transfer Taxes? Photo

Deposits, home inspections, legal fees…  Whenever I start working with a new client I go though the list of closing costs that they need to budget for.  One of the biggies is Land Transfer Tax.

Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are a basic fact of life.  These taxes, levied on properties that are changing hands, are the responsibility of the purchaser.  Depending on where you live, taxes can range from a half a per cent to two per cent of the total value of the property.

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Toronto Real Estate Market Report: June 2011 Statistics

Following is TREB’s market report for June 2011:  Greater Toronto REALTORS® reported 10,230 home sales through the TorontoMLS® system in June 2011 – up 21 per cent compared to June 2010. This number represented the third best June result on record behind 2007 and 2009. The number of transactions during the first six months of 2011 amounted to 48,189 – down by 4.5 per cent compared to the first half of 2010.

“The strong June result capped off an interesting first half of 2011,” said Toronto Real Estate Board President Richard Silver. “The pace of sales was a bit sluggish at the beginning of the year, but rebounded in May and June. Because of the positive affordability picture, home buyers remained confident in their ability to purchase and pay for a home over the long term.”

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