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NEWS MARCH 2013
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  TORONTO, March 5, 2013 – Greater Toronto Area (GTA) REALTORS® reported 5,759 sales through the TorontoMLS system in February 2013 – a decline of 15 per cent in comparison to February 2012.
The average selling price for February 2013 was $510,580 – up two per cent in comparison to February 2012.

 
“The share of sales and dollar volume accounted for by luxury detached homes in the City of Toronto was lower this February compared to last. This contributed to a more modest pace of overall average price growth for the GTA as a whole,” said Toronto Real Estate Board (TREB) President Ann Hannah.”
 
 
       
  CMHC releases a detailed Ontario housing outlook

The Canada Mortgage and Housing Corporation (CMHC) released this year’s first Ontario housing market outlook for the first quarter of 2013, focusing on resale activities, resale prices, housing starts and future forecasts.
The highlights of the report include:
  • Ontario homesales Ontario home sales are expected to stabilize after a peak in the second quarter of 2012 and before recovering by second half of 2013 and into 2014.
  • Softer price growth combined with an improving job market will support housing demand by 2014.
  • Modest job growth and tighter mortgage regulations will somewhat inhibit a demand among first time buyers.
  • Stronger housing price growth is expected by 2014 as job market and income improve.
  • Ontario starts will slow down to 60,800 units this year in comparison to over 76,742 unit starts in 2012.

 

 
   
         
  Tax Sale
Looking for a deal? You may consider to check tax sale properties. A tax sale is the sale of one or more properties by a municipality to recover unpaid property taxes on those properties. By the time a property is eligible for tax sale the property taxes are in at least their fourth year of arrears. Tax sale properties can often be bought at prices far below market value. This is because a municipality does not have to obtain market value for these properties. They only have to obtain the amount of taxes owing (including interest and penalties), plus their costs in conducting the tax sale.
   
   
  I recommend...
This topic can be very beneficial: For years I've been collecting recommendations from my clients about service providers that they have used. Please feel free to email me your positive or negative experience, I'll be sure to share it with my clients.
   
Home improvements will make a property much more desirable to buyers and increase the value of real estate. Interior painting can produce a higher return on investment than most other forms of home improvements. It will also likely lead to a quicker sale when your property is one of the nicer looking available homes in your price range. Should you paint before you sell? Yes, you should.
For top notch paint job my client recommends
Albina (647-774-4658)
Remember, you are the boss, always ask about prices upfront and know exactly what has to be done.