Monday, February 28, 2011
Beautiful 2 bedroom bungalow
Tuesday, February 15, 2011
January Toronto Real Estate Market was Strong
Market Watch
Good Start to 2011
February 4, 2011 -- Greater Toronto REALTORS® reported 4,337 transactions through the TorontoMLS® system in January 2011. This result was 13 per cent lower than the record result reported in January 2010.
"While off the record pace experienced a year ago, the GTA resale market has started the year on a solid footing. Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points," said TREB President Bill Johnston.
The average selling price for January 2011 sales was $427,037, representing an increase of over four per cent compared to the average of $409,058 reported in January 2010.
"The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the three to five per cent range will be sustainable from an affordability perspective," said Jason Mercer, TREB's Senior Manager of Market Analysis.
Median Price
In January, the median price was $360,000, from the $350,000 recorded during January of 2010.
Good Start to 2011
February 4, 2011 -- Greater Toronto REALTORS® reported 4,337 transactions through the TorontoMLS® system in January 2011. This result was 13 per cent lower than the record result reported in January 2010.
"While off the record pace experienced a year ago, the GTA resale market has started the year on a solid footing. Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points," said TREB President Bill Johnston.
The average selling price for January 2011 sales was $427,037, representing an increase of over four per cent compared to the average of $409,058 reported in January 2010.
"The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the three to five per cent range will be sustainable from an affordability perspective," said Jason Mercer, TREB's Senior Manager of Market Analysis.
Median Price
In January, the median price was $360,000, from the $350,000 recorded during January of 2010.
Thursday, February 10, 2011
Hot Market
SELL NOW! If you are thinking of selling your property this year, there have been many changes this year, including
increases to the interest rates & the elimination of the 35 year mortgage, that are causing the real estate market to heat up. You can NOW get top dollar for your home, call me today for details.
increases to the interest rates & the elimination of the 35 year mortgage, that are causing the real estate market to heat up. You can NOW get top dollar for your home, call me today for details.
Beware of purchasing in the US
I have seeen lots of companies promoting purchasing properties in the US, be careful. I have seen some statistics showing that the US will have another real estate drop. Before purchasing in the US make sure that you understand the tax laws and that you understand what factors will affect the real estate market in the future, such as unemployment.
Tuesday, February 8, 2011
Mortgage Rates have started to climb up
If you are thinking of purchasing soon, now is the time to get pre-approved and hold the rate. The rates have started to climb today and will continue to climb.
Monday, February 7, 2011
Your Credit is important to your future
Always keep in mind that maintaining a good credit score with active credit will insure that you get the best available rates from your lender when you are applying for a mortgage. For tips / report on improving your credit score or on re-establishing your credit visit my web site www.theamigo.ca
Wednesday, February 2, 2011
Landlords in Ontario can increase the rent as much as they like!
If you unit (house, condo, basement apartment etc.) was built and occupied after June 18, 1998, it would mean that you are except from the provincial guideline, which for 2011 is 0.7 % percent. Most people don't know this, therefore you be end up at the tribunal proving your point. The information is available on line at the ministry's web site, but also review with the ministry to make sure that your unit falls in this category.
Ontario Residential Tenancies Act, 2006
Rules relating to rent
(2) Sections 104, 111, 112, 120, 121, 122, 126 to 133, 165 and 167 do not apply with respect to a rental unit if,
a) it was not occupied for any purpose before June 17, 1998
(b) it is a rental unit no part of which has been previously rented since July 29, 1975; or
(c) no part of the building, mobile home park or land lease community was occupied for residential purposes before November 1, 1991. 2006, c. 17, s. 6 (2).
......
Guideline increase
120. (1) No landlord may increase the rent charged to a tenant, or to an assignee under section 95, during the term of their tenancy by more than the guideline, except in accordance with section 126 or 127 or an agreement under section 121 or 123. 2006, c. 17, s. 120 (1).
Guideline
(2) The guideline for a calendar year is the percentage change from year to year in the Consumer Price Index for Ontario for prices of goods and services as reported monthly by Statistics Canada, averaged over the 12-month period that ends at the end of May of the previous calendar year, rounded to the first decimal point. 2006, c. 17, s. 120 (2).
Publication of guideline
(3) The Minister shall determine the guideline for each year in accordance with subsection (2) and shall have the guideline published in The Ontario Gazette not later than August 31 of the preceding year. 2006, c. 17, s. 120 (3).
Ontario Residential Tenancies Act, 2006
Rules relating to rent
(2) Sections 104, 111, 112, 120, 121, 122, 126 to 133, 165 and 167 do not apply with respect to a rental unit if,
a) it was not occupied for any purpose before June 17, 1998
(b) it is a rental unit no part of which has been previously rented since July 29, 1975; or
(c) no part of the building, mobile home park or land lease community was occupied for residential purposes before November 1, 1991. 2006, c. 17, s. 6 (2).
......
Guideline increase
120. (1) No landlord may increase the rent charged to a tenant, or to an assignee under section 95, during the term of their tenancy by more than the guideline, except in accordance with section 126 or 127 or an agreement under section 121 or 123. 2006, c. 17, s. 120 (1).
Guideline
(2) The guideline for a calendar year is the percentage change from year to year in the Consumer Price Index for Ontario for prices of goods and services as reported monthly by Statistics Canada, averaged over the 12-month period that ends at the end of May of the previous calendar year, rounded to the first decimal point. 2006, c. 17, s. 120 (2).
Publication of guideline
(3) The Minister shall determine the guideline for each year in accordance with subsection (2) and shall have the guideline published in The Ontario Gazette not later than August 31 of the preceding year. 2006, c. 17, s. 120 (3).
Landlords in Ontario can increase the rent as much as they like!
If you unit (house, condo, basement apartment etc.) was built and occupied after June 18, 1998, it would mean that you are except from the provincial guideline, which for 2011 is 0.7 % percent. Most people don't know this, therefore you be end up at the tribunal proving your point. The information is available on line at the ministry's web site, but also review with the ministry to make sure that your unit falls in this catagory.
Ontario Residential Tenancies Act, 2006
Rules relating to rent
(2) Sections 104, 111, 112, 120, 121, 122, 126 to 133, 165 and 167 do not apply with respect to a rental unit if,
a) it was not occupied for any purpose before June 17, 1998
(b) it is a rental unit no part of which has been previously rented since July 29, 1975; or
(c) no part of the building, mobile home park or land lease community was occupied for residential purposes before November 1, 1991. 2006, c. 17, s. 6 (2).
......
Guideline increase
120. (1) No landlord may increase the rent charged to a tenant, or to an assignee under section 95, during the term of their tenancy by more than the guideline, except in accordance with section 126 or 127 or an agreement under section 121 or 123. 2006, c. 17, s. 120 (1).
Guideline
(2) The guideline for a calendar year is the percentage change from year to year in the Consumer Price Index for Ontario for prices of goods and services as reported monthly by Statistics Canada, averaged over the 12-month period that ends at the end of May of the previous calendar year, rounded to the first decimal point. 2006, c. 17, s. 120 (2).
Publication of guideline
(3) The Minister shall determine the guideline for each year in accordance with subsection (2) and shall have the guideline published in The Ontario Gazette not later than August 31 of the preceding year. 2006, c. 17, s. 120 (3).
......
Ontario Residential Tenancies Act, 2006
Rules relating to rent
(2) Sections 104, 111, 112, 120, 121, 122, 126 to 133, 165 and 167 do not apply with respect to a rental unit if,
a) it was not occupied for any purpose before June 17, 1998
(b) it is a rental unit no part of which has been previously rented since July 29, 1975; or
(c) no part of the building, mobile home park or land lease community was occupied for residential purposes before November 1, 1991. 2006, c. 17, s. 6 (2).
......
Guideline increase
120. (1) No landlord may increase the rent charged to a tenant, or to an assignee under section 95, during the term of their tenancy by more than the guideline, except in accordance with section 126 or 127 or an agreement under section 121 or 123. 2006, c. 17, s. 120 (1).
Guideline
(2) The guideline for a calendar year is the percentage change from year to year in the Consumer Price Index for Ontario for prices of goods and services as reported monthly by Statistics Canada, averaged over the 12-month period that ends at the end of May of the previous calendar year, rounded to the first decimal point. 2006, c. 17, s. 120 (2).
Publication of guideline
(3) The Minister shall determine the guideline for each year in accordance with subsection (2) and shall have the guideline published in The Ontario Gazette not later than August 31 of the preceding year. 2006, c. 17, s. 120 (3).
......
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