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Tuesday, June 21st 2011
Greater Toronto REALTORS® Report June Mid-Month Resale Housing Market Figures
TORONTO, June 16, 2011 TREB
The number of sales and the average selling price reported by Greater Toronto REALTORS® were both up during the first 14 days of June 2011. Sales through the first two weeks of June amounted to 4,787 – up 16 per cent over the same period in 2010. The average selling price for these transactions, at $477,853, was up nine per cent.
“The spring has always been the busiest time in the resale market, but the results for May and the first two weeks of June represented a marked improvement over last year. Low mortgage rates have kept affordability in check and buyers have felt confident in paying for a home over the long term,” said Toronto Real Estate Board (TREB) President Bill Johnston.
The number of new listings on the TorontoMLS® between June 1st and June 14th was down by eight per cent compared to 2010.
“Listings have been in short supply this year, while a lot of people have been looking to buy. The result has been enhanced competition between buyers and more upward pressure on price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Strong price growth will prompt more home owners to list as we move toward 2012.”
Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 31,000 TREB Members serve consumers in the Greater Toronto Area.
The Toronto Real Estate Board is Canada’s largest real estate board.
www.TorontoRealEstateBoard.com
For Media Inquiries: Mary Gallagher, Senior Manager Media Relations Toronto Real Estate Board
1400 Don Mills Road Toronto ON M3B 3N1 Office: (416) 443-8158 maryg@trebnet.com
TORONTO, June 16, 2011 TREB
The number of sales and the average selling price reported by Greater Toronto REALTORS® were both up during the first 14 days of June 2011. Sales through the first two weeks of June amounted to 4,787 – up 16 per cent over the same period in 2010. The average selling price for these transactions, at $477,853, was up nine per cent.
“The spring has always been the busiest time in the resale market, but the results for May and the first two weeks of June represented a marked improvement over last year. Low mortgage rates have kept affordability in check and buyers have felt confident in paying for a home over the long term,” said Toronto Real Estate Board (TREB) President Bill Johnston.
The number of new listings on the TorontoMLS® between June 1st and June 14th was down by eight per cent compared to 2010.
“Listings have been in short supply this year, while a lot of people have been looking to buy. The result has been enhanced competition between buyers and more upward pressure on price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Strong price growth will prompt more home owners to list as we move toward 2012.”
Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 31,000 TREB Members serve consumers in the Greater Toronto Area.
The Toronto Real Estate Board is Canada’s largest real estate board.
www.TorontoRealEstateBoard.com
For Media Inquiries: Mary Gallagher, Senior Manager Media Relations Toronto Real Estate Board
1400 Don Mills Road Toronto ON M3B 3N1 Office: (416) 443-8158 maryg@trebnet.com
World News - North America
Canadians become top Florida property bargain Hunters
Tuesday, 14 June 2011 Propertywire
Attracted by bargain prices, Canadian buyers are driving a property sales surge in the US, particularly in the Orlando area of Florida, according to data from leading realtors, Coldwell Banker Feltrim.
‘Without a doubt, Canada is fast becoming the best market for Floridian property. This was proved when I recently re-launched a prime development in Orlando Tuscana Resort as the first 15 sales we made here were all to Canadian cash buyers and in talking to these clients, they all had very similar reasons for homing in on these particular properties,’ said Garrett Kenny, chief executive of CB Feltrim.
Kenny, who has been building and selling property in the area for 15 years, said prices are exceptionally good and he reckons there has never been a better time to buy, with some properties now on the market for less than 50% of what they cost five years ago.
‘Prices are bounding along the bottom in the Orlando area of Florida and there are lots of amazing deals available at the moment. When Coldwell Banker Feltrim first launched Tuscana, properties here were originally valued at $360,000. Now, in a special developer sale the two bedroom/two bathroom condominiums at Tuscana are on the market for a limited period from just $89,900, that’s a quarter of the original sale price,’ explained Kenny.
According to the Bank of Montreal, one in five Canadians would currently consider buying US property for an investment as well as for personal use. With bargains like this, Kenny says it’s not surprising that not only the Canadian snowbirds who have traditionally headed south to Florida for the winter months are cashing in on property at Tuscana.
Kenny added that the strength of the Canadian dollar and the country’s general economy, plus the fact that the Canadian banking system is much healthier, having avoided the sub prime mortgages which have devastated the US banking system, has given Canadian property buyers greater borrowing powers for property investment...more here
Tuesday, 14 June 2011 Propertywire
Attracted by bargain prices, Canadian buyers are driving a property sales surge in the US, particularly in the Orlando area of Florida, according to data from leading realtors, Coldwell Banker Feltrim.
‘Without a doubt, Canada is fast becoming the best market for Floridian property. This was proved when I recently re-launched a prime development in Orlando Tuscana Resort as the first 15 sales we made here were all to Canadian cash buyers and in talking to these clients, they all had very similar reasons for homing in on these particular properties,’ said Garrett Kenny, chief executive of CB Feltrim.
Kenny, who has been building and selling property in the area for 15 years, said prices are exceptionally good and he reckons there has never been a better time to buy, with some properties now on the market for less than 50% of what they cost five years ago.
‘Prices are bounding along the bottom in the Orlando area of Florida and there are lots of amazing deals available at the moment. When Coldwell Banker Feltrim first launched Tuscana, properties here were originally valued at $360,000. Now, in a special developer sale the two bedroom/two bathroom condominiums at Tuscana are on the market for a limited period from just $89,900, that’s a quarter of the original sale price,’ explained Kenny.
According to the Bank of Montreal, one in five Canadians would currently consider buying US property for an investment as well as for personal use. With bargains like this, Kenny says it’s not surprising that not only the Canadian snowbirds who have traditionally headed south to Florida for the winter months are cashing in on property at Tuscana.
Kenny added that the strength of the Canadian dollar and the country’s general economy, plus the fact that the Canadian banking system is much healthier, having avoided the sub prime mortgages which have devastated the US banking system, has given Canadian property buyers greater borrowing powers for property investment...more here
Friday, June 17th 2011
How To Help Your Clients Pick The Right Neighbourhood
Monday, 13 June 2011 15:35
Editorial Team Propertywire Canada
How well do you know the neighbourhoods in which you ply your trade? There’s a big irony that goes with up-and-coming neighbourhoods and in a city with many neighbourhoods, Toronto realtor John Pasalis has seen it time and time again.
“There’s a huge emphasis on neighbourhoods,” says the president of Realosophy Realty, “but what I find is I get a lot of buyers interested in up- and- coming neighbourhoods until you show it to them. A lot of times, they’re thinking cool, young, and hip and then they see it. ”
Up-and-comers or those neighbourhoods on the cusp of being the next hot real estate market often start out as ugly, rundown districts bereft of the badges of gentrification such as young families and thriving commercial activity. Some are former industrial areas. The homeless or people living on the fringe reside there. Others are just old, outdated and untended neighborhoods that could use an injection of charm and vitality.
Six years ago, that was what clients thought of about Leslieville, Toronto’s east-end neighbourhood now known for vintage furniture shops, film studios and cafes. The then-derelict neighbourhood needed more than a little TLC. Today, Leslieville real estate prices have reached those of Riverdale and the Beaches...more here
Monday, 13 June 2011 15:35
Editorial Team Propertywire Canada
How well do you know the neighbourhoods in which you ply your trade? There’s a big irony that goes with up-and-coming neighbourhoods and in a city with many neighbourhoods, Toronto realtor John Pasalis has seen it time and time again.
“There’s a huge emphasis on neighbourhoods,” says the president of Realosophy Realty, “but what I find is I get a lot of buyers interested in up- and- coming neighbourhoods until you show it to them. A lot of times, they’re thinking cool, young, and hip and then they see it. ”
Up-and-comers or those neighbourhoods on the cusp of being the next hot real estate market often start out as ugly, rundown districts bereft of the badges of gentrification such as young families and thriving commercial activity. Some are former industrial areas. The homeless or people living on the fringe reside there. Others are just old, outdated and untended neighborhoods that could use an injection of charm and vitality.
Six years ago, that was what clients thought of about Leslieville, Toronto’s east-end neighbourhood now known for vintage furniture shops, film studios and cafes. The then-derelict neighbourhood needed more than a little TLC. Today, Leslieville real estate prices have reached those of Riverdale and the Beaches...more here
Tuesday June 14th, 2011
Public Expecting Land Transfer Tax Repeal to Move Forward, Despite Budget Challenges.
TORONTO, June 9, 2011 -- Greater Toronto REALTORS®, and the public, continue to look forward to the fulfillment of the election commitment, of Mayor Rob Ford and numerous City Councillors, to repeal the Toronto Land Transfer Tax.
“It is clear that the public expects the Mayor and City Council to move forward with the commitment to repeal the Toronto Land Transfer Tax, and it is unlikely that they will forget about this. This is a significant tax: it costs the average Toronto home buyer almost $6,500, and when added to the Provincial Land Transfer Tax, average Toronto homebuyers face almost $14,000 in land transfer taxes. REALTORS® look forward to working with the Mayor and City Council on a reasonable approach to deliver on this promise,” said Toronto Real Estate Board President Bill Johnston.
TREB has consistently opposed the Toronto Land Transfer Tax as an unfair tax that hurts Toronto’s economy. TREB strongly believes that the commitment by Mayor Rob Ford, and numerous City Councillors, during and after the election campaign to repeal the Toronto Land Transfer Tax was, and is, sensible.
“Recently, the City’s Budget Chief has pointed out the budgetary challenges facing the City. REALTORS® believe that City Council is moving in the right direction by conducting a comprehensive review of City services; we also strongly believe that the commitment to repeal the Toronto Land Transfer Tax can, and should, move forward,” said Johnston.
A recent public opinion poll conducted by Ipsos Public Affairs found that 75 per cent of Torontonians support Toronto Mayor Rob Ford’s commitment to repeal the Toronto Land Transfer Tax.
In light of the City’s Budget Chief’s recent comments, the poll contained interesting results. In particular, even when asked to consider the City’s expected budget shortfall, the public’s support for the repeal of the Toronto Land Transfer Tax remains very strong, with 68 per cent of Torontonians believing that the Mayor should follow-through on this commitment, despite the City’s budget challenges.
The poll also found that the public is paying attention to this issue: a large number of Torontonians, 61 per cent, were previously aware that Mayor Ford has committed to repeal the Toronto Land Transfer Tax.
Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 31,000 TREB Members serve consumers in the Greater Toronto Area.
The Toronto Real Estate Board is Canada’s largest real estate board.
www.TorontoRealEstateBoard.com
TORONTO, June 9, 2011 -- Greater Toronto REALTORS®, and the public, continue to look forward to the fulfillment of the election commitment, of Mayor Rob Ford and numerous City Councillors, to repeal the Toronto Land Transfer Tax.
“It is clear that the public expects the Mayor and City Council to move forward with the commitment to repeal the Toronto Land Transfer Tax, and it is unlikely that they will forget about this. This is a significant tax: it costs the average Toronto home buyer almost $6,500, and when added to the Provincial Land Transfer Tax, average Toronto homebuyers face almost $14,000 in land transfer taxes. REALTORS® look forward to working with the Mayor and City Council on a reasonable approach to deliver on this promise,” said Toronto Real Estate Board President Bill Johnston.
TREB has consistently opposed the Toronto Land Transfer Tax as an unfair tax that hurts Toronto’s economy. TREB strongly believes that the commitment by Mayor Rob Ford, and numerous City Councillors, during and after the election campaign to repeal the Toronto Land Transfer Tax was, and is, sensible.
“Recently, the City’s Budget Chief has pointed out the budgetary challenges facing the City. REALTORS® believe that City Council is moving in the right direction by conducting a comprehensive review of City services; we also strongly believe that the commitment to repeal the Toronto Land Transfer Tax can, and should, move forward,” said Johnston.
A recent public opinion poll conducted by Ipsos Public Affairs found that 75 per cent of Torontonians support Toronto Mayor Rob Ford’s commitment to repeal the Toronto Land Transfer Tax.
In light of the City’s Budget Chief’s recent comments, the poll contained interesting results. In particular, even when asked to consider the City’s expected budget shortfall, the public’s support for the repeal of the Toronto Land Transfer Tax remains very strong, with 68 per cent of Torontonians believing that the Mayor should follow-through on this commitment, despite the City’s budget challenges.
The poll also found that the public is paying attention to this issue: a large number of Torontonians, 61 per cent, were previously aware that Mayor Ford has committed to repeal the Toronto Land Transfer Tax.
Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 31,000 TREB Members serve consumers in the Greater Toronto Area.
The Toronto Real Estate Board is Canada’s largest real estate board.
www.TorontoRealEstateBoard.com
World Markets by Propertywire
World News
What does a $500 million golf course look like?
Larry Olmsted - Fri Jun 10, 12:54 PM
Scheduled to open in 2015, they have already signed on industry leader Troon Golf, the gold standard of international high-end golf course and club management, to run it.
Dutch Docklands, a player in the world of floating technologies - or making land where there was no land - has announced its plans to build a golf course on the ocean in the Maldives. There are lots of golf courses that claim to be "on" the ocean, but this one would quite literally be "on" the ocean.The concept is a series of manmade islands with one or more holes on each, linked by transparent undersea tunnels through which golfers walk or ride, sort of a golf course meets Moonbase Alpha ambition. more here
Larry Olmsted - Fri Jun 10, 12:54 PM
Scheduled to open in 2015, they have already signed on industry leader Troon Golf, the gold standard of international high-end golf course and club management, to run it.
Dutch Docklands, a player in the world of floating technologies - or making land where there was no land - has announced its plans to build a golf course on the ocean in the Maldives. There are lots of golf courses that claim to be "on" the ocean, but this one would quite literally be "on" the ocean.The concept is a series of manmade islands with one or more holes on each, linked by transparent undersea tunnels through which golfers walk or ride, sort of a golf course meets Moonbase Alpha ambition. more here
CONSULT A REALTOR®
Be sure that one of the most important financial decisions of your life is the right one: choose a Toronto Real Estate Board REALTOR® to guide you through the process of buying or selling your home.
REALTORS® are licensed professionals who must abide by a strict code of ethics and meet continuing education requirements to maintain their status.
Only REALTORS® have access to the Multiple Listing Service (MLS®), a state-of-the-art database of property information that is designed to match people with the properties that fit their exact requirements.
The MLS® system is one way REALTORS® provide their clients with insight into market trends and current market values of similar properties.
REALTORS® can also advise you about current Government Programs that benefit consumers, and use their experience to offer valuable information about the character and amenities of specific neighbourhoods.
When dealing with the purchase or sale of your home, you need the best advice possible. Get it from someone who will commit in writing to represent your interests. Use a Toronto Real Estate Board REALTOR® and have the confidence that a professional is on
your side.
REALTORS® are licensed professionals who must abide by a strict code of ethics and meet continuing education requirements to maintain their status.
Only REALTORS® have access to the Multiple Listing Service (MLS®), a state-of-the-art database of property information that is designed to match people with the properties that fit their exact requirements.
The MLS® system is one way REALTORS® provide their clients with insight into market trends and current market values of similar properties.
REALTORS® can also advise you about current Government Programs that benefit consumers, and use their experience to offer valuable information about the character and amenities of specific neighbourhoods.
When dealing with the purchase or sale of your home, you need the best advice possible. Get it from someone who will commit in writing to represent your interests. Use a Toronto Real Estate Board REALTOR® and have the confidence that a professional is on
your side.