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NEWS JULY 2013
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  TORONTO, July 4, 2013 Greater Toronto Area (GTA) REALTORS® reported 9,061 sales through the TorontoMLS system in June 2013 – down by less than one per cent compared to June 2012. Over the same period, new listings were down by a greater rate than sales, suggesting market conditions became tighter.
The average
selling price up by 4.7 per cent year-over-year to $531,374. In line with the 2013 norm, June price growth was driven by the single-detached and semi-detached market segments, particularly in the City of Toronto.
"The sales picture in the GTA improved markedly in the second quarter of 2013. While the number of transactions was still down compared to 2012,
rates of decline were substantially improved compared to the first quarter.
Growing number of homebuyers, many of whom put their purchase on hold due to stricter lending guidelines, now reactivate their search, the expectation is for renewed growth in home sales in the second half of 2013," said Toronto Real Estate Board President Dianne Usher.
     
  USA: Foreclosures Fall To Pre-housing Bust Levels
The long USA foreclosure nightmare is nearing its end, with foreclosure filings hitting their lowest level since before the housing bust. Total foreclosure filings, including notices of default, scheduled auctions and bank repossessions, dropped to 127,790 in June, down 35% over the past 12 months, according to RealtyTrac. Overall, filings have hit their lowest monthly level since December 2006.

 

 
  How to boost cash flow in retirement with real estate

If you’re at the age where you’re craving income, you’ve probably wondered whether owning a rental property is a good way to get it. After all, the yield on fixed-income investments is at all-time lows and stock dividends aren’t much better. Adding a residential income property or two could provide a reliable boost to your cash flow. The condo flippers are making it tough for real estate investors who just want reliable income. Traditionally, real estate investors looked for a combination of income and price appreciation. The key is having an eye for rentability. You may need to put a bit of renovation money into your property in the first couple of years to improve its appeal.
 
   
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