January 2013 Newsletter

Happy New Year and Best Wishes for Good Health and Prosperity in 2013! This past year in the GTA has been a very up and down year for resale real estate. The first half posted strong unit sales increases and the second half showed a much softer trend developing. The year ended with total sales at 85,731 units which was -4% vs. 2011. This number is right on the average for the past 8 years as you will see in the article on sales trends later in this newsletter. Prices, on the other hand, continued to post solid gains throughout the whole year and were up 7% on average. These price increases were fueled by continuing demand in the GTA and a lack of inventory as listings were lower than usual during the last half of the year. This lack of listings was one factor that contributed to reduced sales numbers. Another major factor was low consumer confidence that was the result of a number of issues. World wide financial turmoil, the slow US financial recovery, the US election, the US 'fiscal cliff' drama and our own home grown mayoralty soap opera. Even though Canada continues to enjoy a realtively stable economy and a positive outlook, these factors have had an impact on our consumer confidence and have negatively affected our real estate market in the GTA. Stronger lending guidelines have also had a negative effect on our local market, particularly for 1st time buyers and buyers of properties where the mortgage would be over one million dollars, which are now not insured by CMHC. Many buyers may have moved their purchase up to avoid these changes that came into effect mid year. So with most of this in the past, I'm going to dust off my crystal ball and make a few comments on what we might expect in 2013. Firstly, we have been seeing an increase in good news from both Europe and the US. In the US, the housing market is starting to show increases in sales and prices in many regions across the country - even some of those worst hit by their economic meltdown. We're also finished with the uncertainty about the US elections which should help to take away that distraction. Although, I'm sure, we will continue to see a lot of onging drama as the GOP attempts to rescue itself from self destructing. In the GTA we are approaching the beginning of the tradtionally strong 'spring' market and all signs that I am seeing right now are very positive. New listings are already increasing every day and we are seeing an increase in buyers back out in the market in just the past week. Now, if we can just get the media to run a few positive stories....... Prices will likey show modest growth at best. Houses that are priced below $800,000 should see good price growth, but as you rise in the price scale we will likely see a contining price correction. For example, homes over $2,000,000 have already seen price declines of between 5 and 15%, depending on the location. Unit sales growth for the first few months of 2013 may be somewhat soft as we will be comparing against very strong growth last spring. The condo market is another story. Condos located south of Bloor St. will likely see a continuing decline in sales and also a softening in the selling price. Condos in the Yonge/Sheppard/Finch area will also likely see downward pressure on prices. There is a lot of inventory for sale and this is expected to continue. Condos in midtown (St. Clair to Eglinton) along the Yonge subway are very much in demand and should continue so. Selling prices for these will remain relatively stronger. All things considered, it is shaping up to be a good market and I look forward to your calls about selling or buying. We have a number of interesting articles in this issue including one about choosing an older or newer home. One of the biggest decisions house hunters often face is the choice between older and newer. This month's article helps clear up the confusion by outlining the advantages of both options. There are also some great ideas on how to creatively decorate your children's bedroom in a way that won't break the bank as well as a few popular text abbreviations you need to be up on. Thanks so much for checking out this month's newsletter. Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you! You can reach me at 416.561.2710 begin_of_the_skype_highlighting 416.561.2710 FREE end_of_the_skype_highlighting or armand@armandgilks.com Sincerely, Armand

Toronto Real Estate Board Market Report Trend of GTA Sales Informaton Rent or Buy? What's Best for You? Old or New: What's Best for You? Child's Play Guide to Decorating A Text Message Tutorial 4 U!!

Toronto Real Estate Board Market Report

Greater Toronto Area REALTORS® reported 3,690 sales through the TorontoMLS system in December 2012 – down from 4,585 sales in December 2011. Total sales for 2012 amounted to 85,731 – down from 89,096 transactions in 2011. “The number of transactions in 2012 was quite strong from a historic perspective. We saw strong year-over-year growth in sales in the first half of the year, but this growth was more than offset by sales declines in the second half. In the City of Toronto, the dip in sales was at least partially affected by the additional Land Transfer Tax, which buyers must pay upfront,” said Toronto Real Estate Board (TREB) President Ann Hannah. The average selling price in December 2012 was up by 6.5 per cent year-over-year to $478,739. The average selling price for 2012 as a whole was up by almost seven per cent to $497,298. “Robust annual rates of price growth were reported through most months of 2012. Price growth was strongest for low-rise homes, including singles, semis and townhouses. Despite a dip in sales, market conditions remained tight for these home types with substantial competition between buyers,” said TREB’s Senior Manager of Market Analysis Jason Mercer.

Trend of GTA Sales Informaton

Below is the sales and price trend for the past 8 years. As you can see, despite the slower last half of the year in 2012, the overall year was on a par with the average for previous years. UNIT AVERAGE YEAR SALES %chge PRICE %chge 2005 84,135 +1% $335,907 +7% 2006 83,084 -1% $351,941 +5% 2007 93,193 +12% $376,236 +7% 2008 74,552 -10% $379,347 +1% 2009 87,308 +7% $395,460 +4% 2010 85,535 -2% $431,276 +9% 2011 89,096 +4% $465,014 +8% 2012 85,731 -4% $497,298 +7%

Rent or Buy? What's Best for You?

I often get this question from buyers and there is never an easy answer. One of the best calculators that I have seen that helps to answer it is provided by The Globe and Mail. Their site also provides a complet selection of calculators for everything from recovering from a bear market to is it worth the extra drive to save money with cheaper gas. Click here to acces their selection of 33 different financial calculators.

Old or New: What's Best for You?

Home buyers face countless decisions when purchasing a home. One of the first things to establish is whether you prefer a newer or older home. Comparing newer and older homes can be like comparing apples and oranges. It really depends on your individual preferences and family priorities. Here are a few advantages each type of home offers: Pros of Older Homes Old World Charm - Older homes usually boast unique architectural features such as stained glass windows and crown moulding. Location - Older homes are often located in well established communities with mature trees and developed landscaping. They're also usually close to popular downtown amenities. Solid as a Rock - The craftsmanship that went into building homes years ago was usually second to none which means they're built to last. Outdoor Space - Older homes usually have larger lots which is an important consideration if you value your privacy or wish to extend your home in the future. Pros of Newer Homes Customizable - A brand new home allows you to customize to your own tastes with options such as heated floors, granite countertops or even simple items like fixtures. Low Maintenance - You're not likely to encounter any serious problems as everything's brand new. The home's exterior will also be much easier to maintain. Functional - Newer homes are laid out with functional features such as open concept rooms, attached garages, larger storage areas and ensuite bathrooms. Energy Efficient - Better windows, insulation and appliances mean newer homes are more energy efficient which translates into lower monthly bills for homeowners. Newer homes are usually more functional but existing homes offer a level of character that new homes can't match. You may have a fixed idea of what you prefer but keep an open mind and make sure you're familiar with the pros and cons of each. This is one of the biggest investments you'll ever make so do your research before signing on the dotted line.

Child's Play Guide to Decorating

Designing a room with your child is a great way to spend quality time together. It's also a great opportunity for them to express their thoughts and opinions with you. One way to keep things fun is to incorporate a theme into the room's interior design. Remember that a child's interests change rapidly so keep the project simple and flexible. Wall stickers are a great choice as they're inexpensive, come in a variety of themes, cover large areas and are easy to put up and take down. This flexibility gives your child the freedom to shape the look and feel themselves. Stickers are also a great way to create boundaries if your kids share a room. Display tables and shelves are an excellent way to showcase decorative items. Framing family photos or your child's artwork in bright or homemade frames is another nice personal touch. Finally, attractive storage baskets are great accessories and make tidying up a cinch! A child's vision of a perfect room isn't usually as complex or as costly as you'd expect. With just enthusiasm alone, you can make your child's day by decorating their room with a few simple items rather than investing weeks of time and lots of money.

A Text Message Tutorial 4 U!!

The language of texting is constantly evolving. You're probably up on many of the standard texting abbreviations but here are a few that you may not be aware of: YOLO = you only live once KK = kewl kewl (aka: ok) JK = just kidding NBD = no big deal ILBL8 = I’ll be late SMH = shaking my head BFN = bye for now If you want to check out a complete text dictionary just click on this link. It’s important to familiarize yourself with this new language, especially if you have kids or office colleagues who are communicating in short form. TTYL :-)

Top Reasons to Live in Canada

                      All About Canada.....   

TOP REASONS TO LIVE IN BRITISH COLUMBIA 1. Vancouver : 1.5 million people and two bridges. You do the math. 2. Your $400,000 Vancouver home is just 5 hours from downtown. 3. You can throw a rock and hit three Starbucks locations. 4. There's always some sort of deforestation protest going on. 5. Weed. TOP REASONS TO LIVE IN ALBERTA 1. Big rock between you and B.C. 2. Ottawa who? 3. Tax is 5% instead of the approximately 200% it is for the rest of the country. 4. You can exploit almost any natural resource you can think of. 5. You live in the only province that could actually afford to be its own country. 6. The Americans below you are all in anti-government militia groups. TOP REASONS TO LIVE IN SASKATCHEWAN 1. You never run out of wheat. 2. Your province is really easy to draw. 3. You can watch the dog run away from home for hours.  4. People will assume you live on a farm.  5. Daylight savings time? Who the hell needs that!   6. RIDERS...RIDERS....RIDERS!!!!  TOP REASONS TO LIVE IN MANITOBA 1. You wake up one morning to find that you suddenly have a beachfront property. 2. Hundreds of huge, horribly frigid lakes. 3. Nothing compares to a wicked Winnipeg winter. 4. You can be an Easterner or a Westerner depending on your mood. 5. You can pass the time watching trucks and barns float by. TOP REASONS TO LIVE IN ONTARIO 1. You live in the center of the universe. 2. Your $400,000 Toronto home is actually a dump. 3. You and you alone decide who will win the federal election. 4. The only province with hard-core American-style crime. TOP REASONS TO LIVE IN QUEBEC 1. Racism is socially acceptable. 2. You can take bets with your friends on which English neighbour will move out next. 3. Other provinces basically bribe you to stay in Canada . 4. You can blame all your problems on the "Anglo A*#!%!" TOP REASONS TO LIVE IN NEW BRUNSWICK 1. One way or another, the government gets 98% of your income. 2. You're poor, but not as poor as the Newfie's. 3. No one ever blames anything on New Brunswick . 4. Everybody has a grandfather who runs a lighthouse. TOP REASONS TO LIVE IN NOVA SCOTIA 1. Everyone can play the fiddle. The ones who can't, think they can. 2. You can pretend to have Scottish heritage as an excuse to get drunk and wear a kilt. 3. You are the only reason Anne Murray makes money. TOP REASONS TO LIVE IN PRINCE EDWARD ISLAND 1. Even though more people live on Vancouver Island , you still got the big, new bridge. 2. You can walk across the province in half an hour. 3. You can drive across the province in two minutes. 4. Everyone has been an extra on "Road to Avonlea." 5. This is where all those tiny, red potatoes come from. 6. You can confuse ships by turning your porch lights on and off at night. TOP REASONS TO LIVE IN NEWFOUNDLAND 1. If Quebec separates, you will float off to sea. 2. If you do something stupid, you have a built-in excuse. 3. The workday is about two hours long. 4. It is socially acceptable to wear your hip waders to your wedding. Pass this along to Canadians who need a laugh and foreigners who can learn something about Canada and then enjoy a good chuckle. Let's face it: Canadians are a rare breed. The Official Canadian Temperature Conversion Chart 50 Fahrenheit (10 C) Californians shiver uncontrollably. Canadians plant gardens. 35 Fahrenheit (1.6 C) Italian Cars won't start Canadians drive with the windows down 32 Fahrenheit (0 C) American water freezes Canadian water gets thicker. 0 Fahrenheit (-17.9 C) New York City landlords finally turn on the heat. Canadians have the last cookout of the season. -60 Fahrenheit (-51 C) Santa Claus abandons the North Pole. Canadian Girl Guides sell cookies door-to-door. -109.9 Fahrenheit (-78.5 C) Carbon dioxide freezes makes dry ice. Canadians pull down their earflaps. -173 Fahrenheit (-114 C) Ethyl alcohol freezes. Canadians get frustrated when they can't thaw the keg -459.67 Fahrenheit (-273.15 C) Absolute zero; all atomic motion stops. Canadians start saying "cold, eh?" -500 Fahrenheit (-295 C) Hell freezes over. The Toronto Maple Leafs win the Stanley Cup

                                                                                              

 

Does your home sometimes feel a little cramped? If so, this month's article shares some terrific space saving strategies that will help you get the most out of your square footage! There's also a quick tutorial on how to remove those annoying Google Ads from your search page as well as some tips on how to get your family back into the school routine. Thanks so much for checking out this month's newsletter. Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it would be great to hear from you! Sincerely, Armand GTA Home Prices Up In July Market Trends to August 1 to 14, 2012 Thinking Big & Living Large Google Ads Begone! and Web Surfing Privacy Getting Ready for School Daze GTA Home Prices Up In July There were 7,570 resale sales in July 2012, representing a decline of 1.5 per cent compared to 7,683 sales reported in July 2011. This is a reflection of two factors. One is a normal seasonal slowdown in the market and the other is a shift that is starting to take place in the condo segment of the market. The decline was most pronounced in the condominium apartment segment in the City of Toronto. Total sales in the rest of the Greater Toronto Area (GTA) were up compared to the same period last year. This same trend continued into the first half of August as you will see in the August update below. The August information also shows canges by type of dwelling for both the 416 and 905 areas codes. The average selling price in July 2012 was $476,947 – up by four per cent compared to July 2011. The MLS® Home Price Index (MLS® HPI)* composite index, which allows for an apples-to-apples comparison of benchmark home prices from one year to the next, was up by 7.1 per cent year-over-year. In the August update you will also see the prices changes by type of dwelling. The detached house price increase reflects both rising prices and also a shift with more higher priced homes selling. Let me know if you would like an update for your neighborhood and I will be pleased to put it togetther for you. Market Trends to August 1 to 14, 2012 Toronto MLS Sales & Average Price By Home Type August 1 - 14, 2012 Sales Average Price 416 905 Total 416 905 Total Detached 322 1,032 1,354 763,603 562,607 610,406 Yr./Yr. % Change -6% -4% -4% 28% 7% 12% Semi-Detached 88 214 302 509,090 395,385 428,518 Yr./Yr. % Change -14% 6% -1% 2% 6% 3% Townhouse 117 356 473 435,520 353,035 373,438 Yr./Yr. % Change -6% 10% 5% 13% 4% 6% Condo Apartment 475 197 672 341,270 277,679 322,628 Yr./Yr. % Change -19% -24% -21% -3% 5% -1% Thinking Big & Living Large Living in a small space may be practical but you still want your home to appear as large as possible. The following tips will help transform your cramped quarters into something much more spacious: Surprise! These tips also work really well for new limited space condos. Cut a Rug - Avoid area rugs as using the same type of flooring throughout adjoining rooms creates a feeling of spaciousness. Is That a Door In Your Pocket? - Installing pocket doors is an easy and inexpensive way to create loads of extra useable space. Mirror Mirror - Strategically place mirrors throughout your home for the illusion of added space and also to reflect light to adjoining rooms. 'Tis the Season - Divide your clutter into seasons. By displaying just one box each season, you’ll reduce clutter, change scenery and keep every last item that you can't bear to part with. Hide & Seek - Maximize every bit of hidden space you have such as using shelving pockets on the backs of doors or bed risers for that all important under the bed storage. Open Up - Arrange your furniture so you can see as much of the floor as possible. Moving furniture away from entrances will make a space appear larger as rooms with blocked views can feel cramped. Lighten Up - Painting walls a soft shade and the ceiling bright white will give the illusion of added height. Letting in plenty of natural sunlight also helps a space appear larger so keep window areas clear of heavy drapes. Whether you're getting ready to put your home on the market or you just want to create more space for yourself, the easy and inexpensive tips above will help give you a bit more breathing room. By thinking big and getting creative, you can comfortably live large in even the smallest of spaces. Google Ads Begone! and Web Surfing Privacy You expect to be exposed to a few ads here and there when you surf the web but if you're fed up of ads dominating your Google search screen, we have a solution for you! Here's all you need to do: The first thing you need to do is install Firefox which is a popular Internet browser. Next, download Adblock Plus and click "Add to Firefox". Click "Install Now" in the box that opens up. If the box does not automatically open up, you may need to click "Allow" in the banner that appears on the top of the web browser. Restart Firefox once the download is complete. Select "Tools" from the menu on the top of the Firefox Browser. Then click on "Adblock Plus Preferences" from the drop-down menu. Click on "Filters" and then select "Add Filters". Type http://*.googlesyndication.com/* into the box that appears. Then click "OK". It's also easy to uninstall or change preferences if there are certain sites you do wish to see ads on. There are also ways to block Google from snooping through your online activity as this kind of tracking can be a major invasion of privacy. Just Google it to figure out how :) If you have any concerns about your privacy while you are surfing the web, take a minute and check out this excellent article by Marc Saltzman that appeared in the Toronto Star. www.moneyville.ca/blog/post/1232697--how-and-why-to-surf-the-web-incognito Getting Ready for School Daze The "getting back to school" routine is a big adjustment after the lazy days of summer. Most of us find it very hectic but there are a couple of things you can do to make it less stressful on everyone. The first few weeks of school are especially busy as everyone’s trying to adjust to the routine. Keep things running smoothly by postponing weekend getaways or home improvement projects. To keep things organized, hang a family calendar in a central place where everyone can write down their activities. Keep a file next to the calendar for school notices and permission slips so everything's organized and in one place. Don't forget to roll back bedtimes a week or two before school starts so you're in the routine for the first week back. It's definitely a period of emotional adjustment for children so try and make yourself available as much as possible for the first few weeks.

Are you tired of scouring the paper and MLS sites looking for homes? Tired of playing telephone tag with agents only to hear the home's already sold? Sit back, relax and let me do the work for you! Just visit my website and check off the features you're looking for. Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home. This service is free and there's no obligation! Click here to get started. Bosley Real Estate Ltd., Brokerage 290 Merton St., Toronto ON M4S1A9 416 322 8000 View Previous Issues [Subscribe] - [Disclaimer] - [Unsubscribe] Created by RealEstateWord.com

Not meant to solicit clients already under contract.

I hope that you enjoyed the July long weekend and celebrated Canada's birthday in style. This time of year usually signals a slower summer market and this year is no exceprion. However, the summer often brings some good buying opportuniies, without the pressure of competing offers. Buying or selling real estate involves a wide range of exhilarating emotions. This month we discuss how to keep your emotions in check to ensure your real estate roller coaster ride is smooth and enjoyable. We also explore the popular photo editing app Instagram as well as improvements to the Tarion new home warranty program.and changes to mortgage lending rules. Apparenty, many Canadians are not aware of the recent changes made to mortgage lending rules. Please take a minute to read this article and see how these changes may affect you. Thanks so much for checking out this month's newsletter. Please let us know if you have any questions or comments regarding the articles, or real estate in general -- it would be great to hear from you! Sincerely, Armand Toronto Market Update Are You Ready for the Real Estate Roller Coaster? A Picture's Worth a Thousand Clicks A Summary of New Mortgage Rule Changes Tarion Changes are Good For Consumers Toronto Market Update There were 9,422 home sales through the TorontoMLS system in June 2012. This was down by 5.4 per cent in comparison to June 2011. The year-over-year decline was largest in the City of Toronto, where sales were down by 13 per cent while sales in the rest of the Toronto Real Estate Board (TREB) market area were comparable to a year ago. These 'declines' were vs. a very strong June 2011. The average selling price in June was $508,622 – up by 7.3 per cent compared to June 2011. The mortgage payment associated with the average priced home in June, assuming five per cent down and a five-year fixed rate mortgage amortized over 25 years, would account for approximately 35 per cent of the average household’s income in the GTA after adding property tax and utility payments. This remains below the 39 per cent ceiling recently announced by Mr. Flaherty in his most recent mortgagte guidelein changes. Please have a look at the article in this issue about the new mortgage rules. Below is a breakdown of sales and prices by type of home and by the 416 vs. 905 areas. Summary of TorontoMLS Sales and Average Price June 1 - 30 2012 2011 Sales Average Price New Listings Sales Average Price New Listings City of Toronto ("416") 3,520 $554,077 6,742 4,053 $511,591 6,102 Rest of GTA ("905") 5,902 $481,512 9,937 5,906 $448,579 8,653 GTA 9,422 $508,622 16,679 9,959 $474,223 14,755 TorontoMLS Sales & Average Price By Home Type June 1 - 30 Sales Average Price 416 905 Total 416 905 Total Detached 1,257 3,432 4,689 803,671 572,748 634,652 Yr./Yr. % Change -9% 2% -1% 10% 7% 7% Semi-Detached 403 645 1,048 562,057 398,366 461,312 Yr./Yr. % Change -15% 7% -3% 6% 8% 5% Townhouse 407 1,081 1,488 448,993 357,452 382,491 Yr./Yr. % Change -8% 3% 0% 9% 6% 6% Condo Apartment 1,415 581 1,996 364,597 287,118 342,044 Yr./Yr. % Change -18% -20% -18% 2% 2% 2% Are You Ready for the Real Estate Roller Coaster? Buying or selling a home is a huge financial task that can trigger a roller coaster of emotions. When you're being tossed around at every turn, it's critical to hang on and keep your feelings on track. When you put your home on the market, you need to view it as just a house. Don’t be offended if someone wants to rip up your kitchen or paint over the wood trim. It's natural for people to complain when they're interested in something so while criticisms may seem negative, they're actually a good sign! Never take things personally as it can cause negotiations to fall apart. Sentimental home owners who've invested years of hard work and personal love into a home are often put off by a low offer even though it's just a starting point. Having a real estate agent act as your 3rd party negotiator will help keep emotions at bay. If you’re lucky enough to generate multiple offers, make sure you consider more than just the price. Conditional offers can send you for a real loop. There's nothing worse than accepting an offer just because it's over the asking price only to have it fall apart a month later when you could have accepted a firm cash offer that was almost as good. Be aware of tactics such as low balling where an attractive price is initially offered only to be adjusted at a later point on the basis that circumstances have changed. In the meantime, your hopes have been raised to the point where you've already envisioned spending the proceeds. Recognizing these types of negotiation strategies will help you keep a balanced perspective. When buying a home, do your research ahead of time to avoid emotional shopping. Although you want to keep an open mind, falling in love with a "fixer upper" when you’re looking for a turnkey home will probably end up being a mistake no matter what the price. Making a hasty decision based solely on an emotional reaction will likely result in buyer’s remorse. It’s completely normal for home buyers and sellers to experience a wide range of intense emotions as they navigate through the complex real estate process. Just remember not to take things personally or let your emotions rule every decision. If you get on the real estate roller coaster with a competent agent by your side, not only will you enjoy the ride but you'll want to do it again and again! A Picture's Worth a Thousand Clicks An ironic example of our longing for the "good old days" is to snap a photo with a state of the art smartphone and then tweak it with a faded, black and white nostalgic type effect. Instagram is a photo editing app that Facebook paid a whopping one billion dollars for! The concept is simple. Take a photo on your smartphone, add a cool looking filter inspired by those old Polaroid pics, blur it out a little and then share it with whoever you like. With over 40 million users, Instagram has totally redefined photography. Once modified, the photo which is squared off for that vintage look can be easily shared on various popular platforms such as Facebook, Twitter and Flickr. People can even purchase canvas prints, cards and posters of Instagram photos which means your pics could one day find themselves hanging on walls all over the world! Many people now use images to help tell their story and in today's age, that means a picture's worth a thousand clicks. Joining a community of millions not only puts you and your photos in touch with a huge audience but it also allows you to follow others who share similar interests. Instagram doesn't cost a cent so step off the sidelines and perhaps you'll discover an extraordinary hidden talent. A Summary of New Mortgage Rule Changes June 21, 2012-- The Honourable Jim Flaherty, Minister of Finance, announced four measures for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent: Reduce the maximum amortization period to 25 years from 30 years. Lower the maximum amount Canadians can borrow when refinancing to 80 per cent from 85 per cent of the value of their homes. Fix the maximum gross debt service ratio at 39 per cent and the maximum total debt service ratio at 44 per cent. Limit the availability of government-backed insured mortgages to homes with a purchase price of less than $1 million. One note of importance: If you have an existing mortgage that has a 30 or 35 year amortization period, this term will remain in effect when the time come to renew your mortgage. The new rules will take effect on July 9, 2012. For more detailed information, please visitwww.fin.gc.ca Tarion Changes are Good For Consumers The Tarion Warranty Corp. has introduced a number of program changes which will benefit consumers by providing better disclosure of extra charges in builder sales agreements. Bob Aaron, a real estate lawyer and columnist for the Torotno Star, has written an article detailing these changes. Below is a summary of the key points. Click on the link below to see the full article. By law, every agreement of purchase and sale for a new home or condominium must now contain a lengthy disclosure statement called an addendum. The attachment, called Schedule B, has two separate parts. Part I will contain in one place an itemized list of all charges, fees or other adjustments to the final purchase price or balance payable on closing, where the dollar value is set out in the builder’s agreement of purchase and sale. The description of the charges can be brief summaries, but there will be a reference to the relevant section of text in the purchase agreement. Charges listed in this section may be items such as the Tarion enrolment fee, a charge for holding the purchaser’s deposits in trust, a fee to discharge the builder’s construction financing, the builder’s $73.45 transaction levy payable to the Law Society, and a fixed charge to subsidize the builder’s legal fees. Part II of the new schedule is headed “All other adjustments — to be determined in accordance with the purchase agreement.” This will set out all additional charges, fees or other anticipated adjustments to the final purchase price, which are to be calculated after the purchase agreement is signed, according to the written terms of the agreement. For condominium purchases, charges in this section may include items such as: • The unit’s proportionate share of the cost of installation of gas, hydro, sewers and water service and meters in the project. • Any new taxes, levies or development charges imposed on the unit by any level of government after the agreement was signed. • A levy against the unit for parks, public artwork or other municipal charges, • HST on the value of the appliances included with the unit. • Interest on the balance of the purchase price from the day of final closing to the next banking day. • The amount of any increase in municipal, education or transit development charges imposed after the project went on the market. • A portion of the costs associated with a development agreement entered into with the city. • A portion of the building’s first common elements study. Each charge will be cross-referenced back to the appropriate text in the purchase agreement so buyers can determine whether it is unlimited or capped at a particular amount. http://www.thestar.com/yourhome/real%20estate/article/1221946--tarion-changes-good-for-purchasers

Are you tired of scouring the paper and MLS sites looking for homes? Tired of playing telephone tag with agents only to hear the home's already sold? Sit back, relax and let me do the work for you! Just visit my website and check off the features you're looking for. Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home. This service is free and there's no obligation! Click here to get started. Bosley Real Estate Ltd., Brokerage 290 Merton St., Toronto ON M4S1A9 416 322 8000 View Previous Issues [Subscribe] - [Disclaimer] - [Unsubscribe] Created by RealEstateWord.com

Not meant to solicit clients already under contract.

6 new homes from Habitat for Humanity

I was privileged last Sunday to attend the dedication ceremony and handover of the keys to 6 families who were taking possession of their new homes built by  Habitat for Humanity. 

My Grandson and I worked on this project in the spring.  It was an amazing experience for him, not only the volunteering part, but learning how to install drywall and build decks.
Check out the following TREB release.

TREB Habitat Sponsor Home Dedication Ceremony
June 19, 2012 -- On behalf of all Greater Toronto REALTORS®, President-Elect Ann Hannah presented the Khemraj family with the keys to their new TREB-sponsored Habitat for Humanity home on June 17.

The presentation took place at the site of six newly constructed townhouses at Macey Avenue and St. Dunstan in Toronto. Habitat for Humanity Chief Executive Officer Neil Hetherington welcomed sponsors, local dignitaries from all levels of government, and the six families who received the keys to their new homes.


Lillwatie Khemraj immigrated to Canada from Guyana in 1982 in search of a better life. Her husband Tajipaul (Clement) Khemraj followed in 1989, with a goal of furthering his education. He worked to earn a degree in Business Administration and thereafter completed a Masters degree.


The couple and their three sons, age 22, 18 and 16, were living in a two-bedroom apartment in Scarborough in order to be close to Clement’s work, when they applied for a Habitat for Humanity home in an effort to give their sons a more positive environment.

Upon being approved, they completed the required 500 sweat equity hours in just five weeks, working seven days a week.

Their new home has been custom-designed to accommodate the needs of their eldest son, who was born with cerebral palsy.

The family is very grateful for the hand-up and Clement, who wants to be able to help others in turn, hopes to establish an e-commerce, non-profit organization to assist the disabled and the elderly.
TREB’s Habitat for Humanity sponsorship was made possible as a result of Members’ support of the REALTORS Care Foundation. At a General Meeting, held in conjunction with TREB’s annual REALTOR® QUEST conference in May, Members voted in favour of continuing, for the fifth consecutive year, participation in the REALTORS Care Foundation’s Every REALTOR® campaign. This authorizes TREB to make a contribution of $1 per Member per month for a year to the Foundation in support of shelter-related charities.

In addition to their contribution of 500 volunteer hours to Habitat for Humanity, sponsor families are required to repay a zero-down payment, interest free mortgage over an average of 25 years.
Habitat for Humanity Toronto has constructed more than 225 simple, decent and affordable homes with partner families throughout the city, and has set a goal to build 50 new homes each year by 2015.

The Khemraj’s home marked TREB’s fifth Habitat for Humanity title sponsorship in recent years.

June 2012 Market Newsletter

June 2012

I was very pleased to attend the key handover ceremony this week for six families who have just moved into their new homes. These were built by Hanitat for Humanity and I was one of many volunteers who had the priviledge of helping to build these homes over the past winter. Habitat builds affordable homes for families who would otherwise nevr have the opportuniy of home ownership. It was a great feeling to meet these families and share in their joy. In this issue, we talk about how smart homes are making our lives easier, safer and more comfortable. This month we highlight how innovative networking technology provides the homeowner greater convenience and control over their daily lives. We also discuss why it's important to have your air conditioner serviced on a regular basis. Also, please have a look at two beautiful properties that we are featuring this month. Thanks so much for checking out this month's newsletter. Let us know if you have any questions or comments regarding the articles or real estate in general -- it would be great to hear from you! Sincerely, Armand Strong Toronto Sales and Price Growth in May Fabulous Opportunity in relaxing Niagara-on-the-Lake Wonderful Waterfront Home is Where the Hard Drive Is Don't Get Left Out In the Heat Strong Toronto Sales and Price Growth in May There were 10,850 homes sold through the Toronto MLS System in May 2012, an 11 per cent increase over the 9,766 sales in May 2011. Sales growth was strongest in the ‘905’ regions surrounding the City of Toronto. This pattern continued in the first half of June. Total GTA sales were flat while sales in the 416 area code were -8% vs a very strong performance in June 2011. By comparison, 905 area sales were +6% in the 1st half of June. “Sales growth in the ‘905’ area code was stronger than growth in the City of Toronto across all major home types. While lower average prices are certainly one factor that has contributed to this trend, recent polling also suggests that the City of Toronto’s land transfer tax has also prompted many households to look outside of the City for their ownership housing needs,” said Toronto Real Estate Board (TREB) President Richard Silver. Prices continue to remain very solid, +8% on average over the the May /June period. The average selling price in the GTA is now $516,834. Please conatct me if you would like to have a detailed report for your neighborhood. Fabulous Opportunity in relaxing Niagara-on-the-Lake Live in a beautiful home -- on your own private vineyard -- and make money! Exquisite House: This is a beautiful, custom built, 3600 sq. ft. home featuring excellent architecture and superb workmanship. Have a look at the video tour and feature sheet for a more detailed description. Click on the links below. Just sit back and relax: Entertain while the expert vineyard staff looks after all of the day to day details for you. Great Income from the Vineyard: The property includes17.43 acres of vineyard that grows exceptional quality Pinot Blanc, Chardonnay, Merlot and Gamay Noir grapes. All planting stock was imported from France. Income from the sale of the grapes is significant. Contact me for full details. Click here for Feature Sheets Click here for Video Tour Please contact Armand Gilks for more details. Offered at $2,225,000 Wonderful Waterfront 100 Ft Of Waterfront On The Most Pristine Boating Bay On Lake Simcoe. One Hour From Toronto. Private dock & boathouse. Updated & renovated brick ranch bungalow features a wrap around deck with plate glass railings overlooking the water. Beautifully landscaped including a new 7 foot cedar hedge along the front property line. Open concept living, dining room & kitchen. Large family eating area off the kitchen that opens to the deck. 3 bedrooms on main level, plus a 4th bedroom and 2nd kitchen on lower level. Fam Room With Gas F/P Opens To 4 Season Garden Room With Lakeview. Ample parking plus an oversized heated double car garage. Boathouse with boat storage, marine railway & cradle system. Sleeping quarters above with rough In for 4-piece bath. Gas fireplace & walkout to the deck overlooking the water. There is also a large concrete sunning pad and a 30 ft cedar dock, new in 2010. Please click here for more information and pictures. Offered at $1,250,000 Home is Where the Hard Drive Is Imagine arriving home after a hard day's work and instead of agonizing over what to cook for dinner, your refrigerator offers you an array of delicious recipes based on what's inside! Then just for good measure, it detects food that's about to expire! Smart homes allow devices to communicate with one another in order to complement your daily routines. You can program your blinds to slowly open in the morning while at the same time the bathroom floor warms up and when you're done in the shower, your coffee will be ready and waiting! Smart features such as voice command systems help support independent living for the elderly and disabled. Having the know-how to sense scenarios such as the homeowner falling means help will arrive quickly as it automatically calls emergency services as well as other emergency contacts. This provides peace of mind for both the homeowner and their family members. Intelligent homes also provide exceptional security as lights and blinds can be enabled remotely and your smartphone can even notify you if someone's lurking around your property! These features are especially beneficial for those who own vacation properties. Keyless entry systems that use fingerprint sensors can also trigger certain home appliances and devices depending on who enters. Intelligent climate and light control saves energy and lowers bills so your home will be both the smartest and eco-friendliest on the block. The heating and cooling system can even create climate zones specific to individual family members preferences and can monitor how much electricity homeowners use in order to find ways to save even more energy. A smart home is like a personal assistant who handles all the odds and ends such as preheating your oven for your arrival home! You can now relax if you're not sure whether or not you set the alarm as you know it'll be taken care of. This type of technology is no longer for just the rich and famous. It's a major selling point and the higher your home's IQ, the higher the resale value will be! Don't Get Left Out In the Heat If something's going to go wrong with your A/C, it'll likely happen at the beginning of a heat wave. You'll roast for days until a technician’s able to come out and when they do, the repair cost will make your blood boil! A neglected air conditioner isn't as efficient or reliable so it's important to have it serviced every so often in order to ensure optimum performance. The service check will include cleaning the unit coils, checking the amp draw of the compressor, adjusting the belts and topping up the fluid. Regularly servicing your air conditioner will prevent wear and tear plus it will increase the efficiency of your unit which in turn will reduce your electricity bills. Don't let it slide again this year! Schedule your check-up today and avoid being left out in the heat.

Are you tired of scouring the paper and MLS sites looking for homes? Tired of playing telephone tag with agents only to hear the home's already sold? Sit back, relax and let me do the work for you! Just visit my website and check off the features you're looking for. Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home. This service is free and there's no obligation! Click here to get started. Bosley Real Estate Ltd., Brokerage 290 Merton St., Toronto ON M4S1A9 416 322 8000 View Previous Issues [Subscribe] - [Disclaimer] - [Unsubscribe] Created by RealEstateWord.com

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