One of a Kind Show - Toronto - March 30th - April 3rd

Don't miss out on the truly unique and fabulous 'One of a Kind' show coming to Toronto March 30 - April 3, 2011.  Furniture, art, textiles, jewelry, accessories...the list is endless.  Come out and enjoy.  Hope to see you there.

Get your tickets and information here.

March 3, 2011 -- Greater Toronto REALTORS® reported 6,266 transactions through the TorontoMLS® system in February 2011. This result was 14 per cent lower than the record sales reported in February 2010.

While not representing a record, February 2011 sales were 50 per cent higher than the number reported in February 2009 during the recession and slightly higher than the average February sales over the previous ten years.

"Continued improvement in the GTA economy, including growth in jobs and incomes and a declining unemployment rate, has kept the demand for ownership housing strong," said Toronto Real Estate Board (TREB) President Bill Johnston.

The average selling price for February 2011 transactions was $454,423, which was more than five per cent higher than the average selling price reported in February 2010.

Market conditions remain quite tight in the GTA. There is enough competition between home buyers to promote continued price growth," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Click here for more information

Just Listed!

24 Noble Street Suite 302

Live life in this New York style loft!  This stunning loft combines exposed brick & mechanics, post & beam features and high industrial style ceilings.  The large picture windows with the wood casings wrap around this open concept corner unit.  Together with the hardwood floors, this loft is warm and inviting.  Queen West is the place to work and live.  Everything is within walking distance from this quiet side street - the Drake Hotel, the Gladstone, bistros, shopping and the night life are seconds away. 

Listed for Sale at $339,000, this sun filled loft won't last.  Join us at the open house January 29th & 30th from 2 -4pm or call me directly at 416-788-6091 for a private showing. 

Click here to visit my website for more information.

Click here for the virtual tour.

Real Estate Investing - The thrill of the find, tempered by a sober judgment

Many people turn real estate deals into a future retirement plan, or an inheritance for their kids. Twin brothers Drew and Jonathan Scott have parlayed their house flips into a thriving real estate business, a film production company, and most recently, a home renovation TV show.

Since they were teenagers, they’ve been flipping property. Drew is a realtor who also holds a black belt in karate and writes and directs films. Jonathan is a building contractor. He is also an award-winning illusionist who performs in Las Vegas. They complement each other’s skills.

“Even though Drew can’t pick up a hammer to save his life, he has vision and I can bring it to realty. And that’s what we do,” says Jonathan. “He comes through properties with me when I am searching with clients. Who wouldn’t want a contractor coming through?”

They were 18 years old when they purchased their first property, an outdated and outright ugly seven-bedroom Calgary house. Their down payment was $250. A year later, after renovating, they made a $50,000 profit, and they were on their way. They’ve since purchased 40 properties, in addition to apartment buildings. Fed up with following the advice of realtors, in 2004 they formed Scott Real Estate, a sales and construction company for residential and commercial projects. They have offices in Vancouver, Calgary and Las Vegas.

Click here to read the entire article.

KERRY GOLD

Vancouver— From Friday's Globe and Mail

Published Thursday, Jan. 13, 2011 11:10AM EST

Last updated Thursday, Jan. 13, 2011 11:37AM EST

Take Me Now event - Up to 80% off at Hazelton Lanes Jan 27 -30th

 The ultimate in luxury sale.  January 27-30, 2011 at Hazelton Lanes. 

Click HERE to be directed to the Hazelton Lanes website for full details. 

Happy shopping!  

GTA REALTORS® View City Budget as Step Towards Repealing Land Transfer Tax

January 19, 2011 -- In a deputation to the City of Toronto's Budget Committee later today at the East York Civic Centre, the Toronto Real Estate Board (TREB) will tell City Councillors that REALTORS® are encouraged with the direction of the City's proposed 2011 Budget and believe that it is a significant step towards fulfilling Mayor Ford's strong commitment to repeal the Toronto Land Transfer Tax.

Click her to read entire article.

Carney stays positive about housing

Bank of Canada Governor Mark Carney is still concerned that home prices could drop more sharply than expected and exacerbate the growing debt burden of many households – but he doesn’t see it as very likely.

Speaking to the House of Commons finance committee Tuesday, Mr. Carney said the slowdown in housing is unfolding as the central bank expected it would, given the tighter mortgage rules brought in by the Finance Department earlier this year and the fact more Canadians are retrenching after spending and borrowing with abandon amid record-low interest rates.

Still, he warned, a quicker, less measured drop is a possibility. Should that happen, it would almost certainly mean Canada would see slower economic growth than Mr. Carney’s latest forecasts, which included downgrades for five consecutive quarters.

Click here to read entire article.

JEREMY TOROBIN

OTTAWA— From Wednesday's Globe and Mail

Published Tuesday, Oct. 26, 2010 6:59PM EDT

Last updated Wednesday, Oct. 27, 2010 1:52PM EDT

Flaherty details new mortgage rules

Concern over rising consumer debt levels is prompting Ottawa to make three new changes to Canada's mortgage rules.

Finance Minister Jim Flaherty announced Monday that new federal rules will reduce the maximum amortization period to 30 years from 35 years for government-backed insured mortgages with loan-to-value ratios of more than 80 per cent.

Secondly, Ottawa will lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 per cent from 90 per cent of the value of their homes.

Thirdly, Ottawa will withdraw government insurance backing on lines of credit secured by homes.

Though longer amortization periods reduce monthly payments, they greatly increase the amount of interest paid over the life of the mortgage and make it harder to build up equity.

The average Canadian resale home sold for $344,551 in December. Assuming a five-year mortgage at 4 per cent interest, and the minimum 5 per cent down payment of $17,227, a 35-year mortgage would have monthly payments of $1,441. Shorten the amortization period to 30 years, and the monthly payment increases to $1,555.

Click here to read the entire article.


BILL CURRY AND GRANT ROBERTSON

With files from Boyd Erman, Tara Perkins and Steve Ladurantaye

OTTAWA/TORONTO— Globe and Mail Update

Published Monday, Jan. 17, 2011 8:12AM EST

Last updated Monday, Jan. 17, 2011 10:26AM EST

Winterlicious 2011

It's that time of year again.  WINTERLICIOUS is back.  Make your reservations early so you don't miss out on trying some of Toronto's finest restaurants. 

Winterlicious 2011 runs from Jan 28 to Feb 10 -- Reservations Start Jan. 13!

Post feedback on my blog about the restaurants you tried. 

Enjoy!
Click here for all the details and information.

Real estate market heads into 2011 with stronger than expected momentum

TORONTO - Low interest rates should continue to prop up sales in Canada's resale housing market in early 2011 as the market continues to ride the momentum of a stronger than expected finish to 2010, the Canadian Real Estate Association said Friday.

"Perceptions are that the housing market has stabilized and people are feeling a little more certain about getting into the market," Gregory Klump, CREA’s chief economist, said Friday after the association reported better than expected sales figures for 2010.

"The hand-off to 2011 for sales activity in the fourth quarter suggests that the continuation of low interest rates will further support the housing market,” he said.

Interest rates that have hovered at historical lows longer than predicted, together with improved consumer confidence, helped stabilize the market in the fourth quarter as sales rose 12.1 per cent over third-quarter levels, Klump said.

In December, seasonally adjusted sales edged down 0.6 per cent from November, ending a four-month string of gains. Actual sales were down 14.4 per cent compared with the record-setting sales of December 2009, but were slightly better than the 10-year average for the month.

Click here to read the entire article.

By: Sunny Freeman, The Canadian Press - On Line edition

Posted: 01/14/2011 8:18 AM