2007 was once again a record year in housing sales for the Toronto Real Estate Board.
Against the expectations of some apocalyptic forecasters, housing bubble talks and the sub-prime mortgage disaster in the U.S., 2007 was the best year ever in home sales.
In Bradford the market was better than ever as well. Here is a brief summary of the most important figures that compare 2007 to 2006.
2006 // 2007
Sales: 376 // 428
$Volume: $103,926,951 // $128,038,462
Average Home Price: $276,401 // $277,750
Average Days On Market: 44 // 40
Average List% : 97// 98
Click here to see a brief 2007 summary for
Newmarket
Innisfil
All Northern Districts of the Toronto Real Estate Board
All of the GTA / All Toronto Real Estate Board Districts
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January 19, 2008
Newmaket Housing Prices 2007 Summary
2007 was once again a record year in housing sales for the Toronto Real Estate Board.
Against the expectations of some apocalyptic forecasters, housing bubble talks and the sub-prime mortgage disaster in the U.S., 2007 was the best year ever in home sales.
In Newmarket the market was better than ever as well. Here is a brief summary of the most important figures that compare 2007 to 2006.
2006 // 2007
Sales: 1291 // 1419
$Volume: $419,538,232 // $482,843,590
Average Home Price : $324,972 // $340,270
Average Days On Market : 32 // 32
Average List% : 98 // 98
Average Increase in home prices : 5%
Click here to see a brief 2007 summary for
Bradford
Innisfil
All Northern Districts of the Toronto Real Estate Board
All of the GTA / All Toronto Real Estate Board Districts
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
Against the expectations of some apocalyptic forecasters, housing bubble talks and the sub-prime mortgage disaster in the U.S., 2007 was the best year ever in home sales.
In Newmarket the market was better than ever as well. Here is a brief summary of the most important figures that compare 2007 to 2006.
2006 // 2007
Sales: 1291 // 1419
$Volume: $419,538,232 // $482,843,590
Average Home Price : $324,972 // $340,270
Average Days On Market : 32 // 32
Average List% : 98 // 98
Average Increase in home prices : 5%
Click here to see a brief 2007 summary for
Bradford
Innisfil
All Northern Districts of the Toronto Real Estate Board
All of the GTA / All Toronto Real Estate Board Districts
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
January 8, 2008
GST cut good news for new homebuyers and homeowners
The tax changes outlined in the federal government's economic statement will once again bring significant savings to new homebuyers but will also benefit existing homeowners.
The average priced single-family home in the Toronto Real Estate Board districts in 2007, costs over $375,000. Buyers save $3,750 on that, not mentioning the 1% cut we save already from last years GST reduction, which would make it $7,500 compared to 2 years ago!!
Existing homeowners
can save on home renovations. The Canadian Home Builders Association offer the following guidelines for home renovations and how the GST is applied.
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The average priced single-family home in the Toronto Real Estate Board districts in 2007, costs over $375,000. Buyers save $3,750 on that, not mentioning the 1% cut we save already from last years GST reduction, which would make it $7,500 compared to 2 years ago!!
Existing homeowners
can save on home renovations. The Canadian Home Builders Association offer the following guidelines for home renovations and how the GST is applied.
- Renovations done before or after Jan 1, 08, but invoiced on or after that date will qualify for the 5% GST.
- For renos done and invioced Jan 1, 08, but subject to a down payment before Jan 1, 6% GST will be collected on the down payment and 5% on the rest of the fee.
- For renovations done after Jan 1, 08, but subject to a deposit paid before Jan 1, the 5% rate applies. A deposit is not treated as a payment for a supply of goods or services until the supplier applies it against the consideration payable for the supply.
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Canada not linked to U.S. real estate market troubles
Ok, I feel it's time for an in depth article that should give an answer to one of the hottest real estate question at the beginning of the new year. Where is our market heading and most of all do we have to be afraid of what happened south of the border to come to the Great White North?
Here is an extract of an article that was just published in the Ontario Real Estate Association's Newsletter (OREA Edge, January2008) :
The melt-down of the U.S. real estate market has left many homebuyers wondering if and how it may affect the housing market in Canada. but market analysts say the problems in the U.S. will have little impact on Canadian real estate.
Much like the Canadian dollar, the Canadian housing market is charting its own course, quite independent from the United States and its currency and housing climate.
The strength of the Canadian dollar, and the fact that the country is adjusting well to its value, will continue to keep interest rates at their existing low-moderate levels, boding well for buyers looking to enter the market. Statistics Canada also reported that "With the combination of the cost of borrowing money remaining relatively low, the availability of longer mortgage amortization periods, and the fact that Canada's population continues to grow, it is no surprise that more and more people are entering the real estate market".
Fundamental Differences between the Canadian and U.S. market:
Here a quick summary that should let all of you who are worried sick about this sleep well tonight:
Canada's long-term fundamentals are solid. Canada has a growing population, our energy and commodities are in high demand, and job creation is strong. All of these attributes seem to have created a buffer shielding Canada from some of the problems in the U.S. real estate market.
Good night!
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
Here is an extract of an article that was just published in the Ontario Real Estate Association's Newsletter (OREA Edge, January2008) :
The melt-down of the U.S. real estate market has left many homebuyers wondering if and how it may affect the housing market in Canada. but market analysts say the problems in the U.S. will have little impact on Canadian real estate.
Much like the Canadian dollar, the Canadian housing market is charting its own course, quite independent from the United States and its currency and housing climate.
The strength of the Canadian dollar, and the fact that the country is adjusting well to its value, will continue to keep interest rates at their existing low-moderate levels, boding well for buyers looking to enter the market. Statistics Canada also reported that "With the combination of the cost of borrowing money remaining relatively low, the availability of longer mortgage amortization periods, and the fact that Canada's population continues to grow, it is no surprise that more and more people are entering the real estate market".
Fundamental Differences between the Canadian and U.S. market:
- Canada benefits from a simpler economy and a more conservative investment environment that the U.S., avoiding the consequences of lax underwriting and speculative building.
- In Canada, institution-dominated markets appear to be avoiding "transaction mania", but real estate values have reached record highs and a strong economy has accelerated tenant demand for space.
- Canadian federal surpluses have given consumers more confidence which has led to increased spending on homes, retail goods and business expansions.
- Canada is naturally rich in areas such as energy and resources and benefits from huge global demand, which fuels both economy and demand for all forms of real estate.
- Housing prices continue to skyrocket towards new highs without overdoing mortgage financing.
- Canadian metropolitan areas boast below 5% vacancies, and rents have room to push higher. Rental apartments are doing well in major cities with high immigration flows.
- Canada's economy continues to be healthy and the soaring dollar brings benefits to importers and any company looking to make capital purchases, which are almost always prices in U.S. dollars.
- FINALLY AND MOST IMPORTANT ... NO SUB-PRIME LENDING MARKET Unlike the U.S., the Canadian housing market has not been artificially driven by bad lending practices. In the U.S., lenders with liquid assets or investment money were making loans to almost anyone who asked. When U.S. housing prices started to slide and interest rates began to rise, may borrowers ended up in trouble and default which in turn, initiated the credit crunch. However, by June 2007, only 5% of mortgages in Canada were sub-prime as compared to more than 21% (!!!) of U.S. mortgages. As well, all mortgages in Canada are insured which is not the case in the U.S.
Here a quick summary that should let all of you who are worried sick about this sleep well tonight:
Canada's long-term fundamentals are solid. Canada has a growing population, our energy and commodities are in high demand, and job creation is strong. All of these attributes seem to have created a buffer shielding Canada from some of the problems in the U.S. real estate market.
Good night!
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
October 12, 2007
Dream Home Service Van
I am proud to introduce my Dream Home Service Van.Outstanding service for my buyer clients.
I still remember when I was about to buy my first home and my real estate agent took me around in his "service mobile". The service he had to offer: Broken doorhandles, stained carpet, a cracked windshield, saggy seats, garbage everywhere and a car smell that was comparable to that of a wet dog. It wasn't comfortable, neither was it my most favourable experience. We were looking at all these nice homes. I was about to buy a home for several hundreds of thousands of Dollars from that guy and I felt like I was driven around in a dump. That somehow didn't fit together!
Luckily nowadays I am in the driver's seat.
I think it is very important to make things as easy and comfortable for my clients a s possible. That's why I introduced the Dream Home Service Van. If you are booking your personal home viewing tour with The Dream Home System I will show you around "in style":
I think it is very important to make things as easy and comfortable for my clients a s possible. That's why I introduced the Dream Home Service Van. If you are booking your personal home viewing tour with The Dream Home System I will show you around "in style":
- Comfortable Leather Seats
- Air Condition and Separate Climate Control for passengers
- Electric Doors for quick and easy "in and out"
- On board DVD Player with movies to watch for the kids
- DVD remote control and wireless headsets
- FREE Real Estate Publications to keep you
up to date - FREE Munchies and Drinks for the road
- Your personal home tour file with all feature sheets and maps of the homes that you are about to visit on your tour
I think that is the right way to look for a home.
I am looking forward to driving you on your next home viewing tour. Enjoy the ride!
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
September 13, 2007
Yes, yes and a clear NO!
The summer is over, people are done with their vacation and can get back to their daily routine and worries. Oh, and that means for me it's time again to face the all important 3 questions of Real Estate..
"Is the real estate market still good?"
"Is it a good time to buy or sell?"
"Is the real estate market going to crash?"
Here a short extract of the latest freshly printed MarketWatch issue from the Toronto Real Estate Board that I get each month on my desk:
"August 2007 became the fifth record-setting month in a row, with 8,059 sales reported by TREB members troughout the GTA ... This figure is up 15 per cent over August of last year, and up seven per cent over the 7,498 sales recorded during the previous "best ever" performance for the month of August ... Summer (one of the slowest months in the Real Estate market) 2007 has been hands-down the most active holiday season for the resale market in the history of the Toronto Real Estate Board...Year-over-year prices increases have remained in the single digits. This kind of activity is sustainable for a long time."
My comment to the actual market situation:
We are still in a very strong market which will even pick up during the next two months again before it slows slightly down over the winter holidays again.
I just want to mention a few economic fundamental facts that are giving me the impression that we do not have to worry for a while about the housing market to crash in good old Canada.
1. Our economy is strong with a low unemployment rate.
2. The Canadian Dollar is slowly growing in strength.
3. We have over 250,000 immigrants each year. Most of them coming into the GTA (some go to the Vancouver area or Edmonton/Calgary, some poor souls even get lost in the Prairies) where they support the local rental market
4. A strong rental market supports a good housing market
Without getting too much into economics ... that is all GOOD! I personally have a very strong and positive outlook on the future real estate market.
So ... again, my answer to the three questions that I get asked the most is:
YES, YES and a loud NO!
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
"Is the real estate market still good?"
"Is it a good time to buy or sell?"
"Is the real estate market going to crash?"
Here a short extract of the latest freshly printed MarketWatch issue from the Toronto Real Estate Board that I get each month on my desk:
"August 2007 became the fifth record-setting month in a row, with 8,059 sales reported by TREB members troughout the GTA ... This figure is up 15 per cent over August of last year, and up seven per cent over the 7,498 sales recorded during the previous "best ever" performance for the month of August ... Summer (one of the slowest months in the Real Estate market) 2007 has been hands-down the most active holiday season for the resale market in the history of the Toronto Real Estate Board...Year-over-year prices increases have remained in the single digits. This kind of activity is sustainable for a long time."
My comment to the actual market situation:
We are still in a very strong market which will even pick up during the next two months again before it slows slightly down over the winter holidays again.
I just want to mention a few economic fundamental facts that are giving me the impression that we do not have to worry for a while about the housing market to crash in good old Canada.
1. Our economy is strong with a low unemployment rate.
2. The Canadian Dollar is slowly growing in strength.
3. We have over 250,000 immigrants each year. Most of them coming into the GTA (some go to the Vancouver area or Edmonton/Calgary, some poor souls even get lost in the Prairies) where they support the local rental market
4. A strong rental market supports a good housing market
Without getting too much into economics ... that is all GOOD! I personally have a very strong and positive outlook on the future real estate market.
So ... again, my answer to the three questions that I get asked the most is:
YES, YES and a loud NO!
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
September 10, 2007
Photo not available?
One of the things that really bug me in the professional real estate world is the lack of quality photos of the properties that agents are putting up for sale. You would think that all of these so called "Professionals" would have heart the words "A picture is worth a thousand words" at some point in their career.Well, ... I know that buyer clients are really keen on looking at a lot of pretty online pictures before they are even interested in taking a closer look at a home. I also know that seller clients would like to have the best and most professional photos of their most valuable asset on the net to attract buyers. Isn't that common sense?
Hmmm judge for yourself ... (here are a couple of pictures that I recently came across while I was browsing for homes for some clients of mine) ... what do these pictures want to tell us?
Let's assume I had hired an agent to sell my property and would pay thousands of Dollars for that service. I think I would have not been overly happy with these really original shots probably taken by one of these "#1" agents personally. I do not want to brag about myself but my clients get their properties photographed by a person that is called a photographer! They even put beautiful virtual tours together where the smallest home still looks like a little palace!
I am not saying that all the other guys and girls out there do a terrible job in regards to presenting their client's homes but if I were a client it would be one of the most important things to me. If I am turned off by some pics already as a real estate person who should be able to see "the true picture of a home", what does the consumer think?
And my personal favourite: "Photo not available" Really sells the property!
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
July 17, 2007
Adios taxos!
No new Land Transfer Tax, yet!!!!
If you read one of my last posts I was writing about a new proposed tax that could cost you thousands of Dollars when buying a home. Toronto Mayor Miller wanted to see that new tax law agreed upon yesterday. Fortunately making a final decision about that has been put off. Our local government voted 22 to 23 against it (The Toronto Star about Mayor Miller's defeat) and therefore the new tax is put on ice for now. This issue will probably come up again with the next Provincial elections.
Until then ... "adios taxos"!
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
If you read one of my last posts I was writing about a new proposed tax that could cost you thousands of Dollars when buying a home. Toronto Mayor Miller wanted to see that new tax law agreed upon yesterday. Fortunately making a final decision about that has been put off. Our local government voted 22 to 23 against it (The Toronto Star about Mayor Miller's defeat) and therefore the new tax is put on ice for now. This issue will probably come up again with the next Provincial elections.
Until then ... "adios taxos"!
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
House prices doubling in the next 20 years?
Sure! I am 100% convinced about that!
I read in the June issue of the REM (Real Estate Magazine) an article by Jim Adair which
had the heading:"House prices will double in the next 20 years - economist". Yes, I think that is exactly what's going to happen. Even if prices do not increase every year dramatically but over time Real Estate has always gone up! Well of course there will be some lower years in between or some leveling off at some point before it increases again. Here is a fact:
Over the last 160 years house prices have always increased!!! For all the ney sayers: Sure we had periods in between where house prices went down but just to come up even more after that.
Show me one property that has not increased dramatically in value over the last 20 years.
Who would have thought 20 years ago that you would have to dish out $40,000 plus for a decent new car? Who laughed at $75 per oil barrel prices 20 years ago? If you bought a home 20 years ago, did you pay half of what it's worth now?
Ok, we figured that out ... and let me think ... mhhhh ... is not everything nowadays even faster paced, meaning prices increasing quicker?
I honestly think a 100% increase in house prices over the next 20 years is absolutely realistic.
Unless ...
... we get a major economic recession for whatever reason, including huge inflation, loss of jobs, crash at the stock markets almost worldwide
... OR ...
... we get the honor to participate in WW3 (which starts in the middle east provoced by the US)
... OR ...
... oil runs out quicker on us than we expected (ooops big surprise!)
... OR ...
... last but not least the Global Warming and Climate Change eradicates all living things on planet Earth (I assume in that case we are not too worried about house prices anyways)
Ok, I hope I didn't scare you too much (like our media likes to do all the time) and all in all you will have a fairly positive and realistic outlook on future house prices.
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
I read in the June issue of the REM (Real Estate Magazine) an article by Jim Adair which
had the heading:"House prices will double in the next 20 years - economist". Yes, I think that is exactly what's going to happen. Even if prices do not increase every year dramatically but over time Real Estate has always gone up! Well of course there will be some lower years in between or some leveling off at some point before it increases again. Here is a fact:
Over the last 160 years house prices have always increased!!! For all the ney sayers: Sure we had periods in between where house prices went down but just to come up even more after that.
Show me one property that has not increased dramatically in value over the last 20 years.
Who would have thought 20 years ago that you would have to dish out $40,000 plus for a decent new car? Who laughed at $75 per oil barrel prices 20 years ago? If you bought a home 20 years ago, did you pay half of what it's worth now?
Ok, we figured that out ... and let me think ... mhhhh ... is not everything nowadays even faster paced, meaning prices increasing quicker?
I honestly think a 100% increase in house prices over the next 20 years is absolutely realistic.
Unless ...
... we get a major economic recession for whatever reason, including huge inflation, loss of jobs, crash at the stock markets almost worldwide
... OR ...
... we get the honor to participate in WW3 (which starts in the middle east provoced by the US)
... OR ...
... oil runs out quicker on us than we expected (ooops big surprise!)
... OR ...
... last but not least the Global Warming and Climate Change eradicates all living things on planet Earth (I assume in that case we are not too worried about house prices anyways)
Ok, I hope I didn't scare you too much (like our media likes to do all the time) and all in all you will have a fairly positive and realistic outlook on future house prices.
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
Best June EVER!
Just a quick note for all the people who are still questioning the strength of our local Real Esate market. Last month the Toronto Real Estate Market (which includes the area from Milton in The West to Bowmanville in The East and Toronto South to Innisfill in the North!) recorded 10,451 sales for the best June performance ever. After May, which was the best month ever (since the start of recording market figures) with 11,146 sales, this last month has been a very strong one again. To get some idea of the current strength of the market:
there have been more sales in the last two months (21,597) than occured in all of 1977 (20,512), thirty years ago this year.
So friends, family, clients, customers and neighbours ... people ... please stop asking if the market is still "good". It is not just good ... it is OUTSTANDING!
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
there have been more sales in the last two months (21,597) than occured in all of 1977 (20,512), thirty years ago this year.
So friends, family, clients, customers and neighbours ... people ... please stop asking if the market is still "good". It is not just good ... it is OUTSTANDING!
BACK TO ... WWW.THEDREAMHOMESYSTEM.COM
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