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NEWS MAY 2013
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  TORONTO, May 3, 2013 GTA REALTORS® reported 9,811 sales through the TorontoMLS system in April 2013, representing a dip of two per cent in comparison to 10,021 transactions in April 2012.
The average selling price for April 2013 transactions was $526,335 – up by two per cent in comparison to April 2012.
“Despite the headwinds we have experienced in the housing market this year, April sales came in quite strong in comparison to last year. As we move through the spring and into the second half of 2013, the demand for home ownership should continue to firm-up relative to last year. It has been almost a year since the federal government enacted stricter mortgage lending guidelines. It is realistic to surmise that some households, who originally put their decision to purchase on hold, are once again looking to buy,” said Toronto Real Estate Board President Ann Hannah.
 
       
  Economic Commentary First Quarter 2013

In April, the Bank of Canada downgraded its forecast for growth in the Canadian economy to 1.5 per cent for 2013 from the two per cent growth rate it had forecast in its January.
Pull-back in homeownership demand played a role in slower than expected economic growth in the first quarter of 2013. Both resale home transactions and new home starts have been trending lower since the second half of 2012.

 

 
   
  How to find deals!

First start in area with minimum 300 homes, look for the area where homes are being rehabbed, limited bank owned properties and buyers are active. Now it is time to find "deal" properties. Become an expert in that area. Drive the area regularly and check for signs of distress:
• Mail at the front door for weeks or months
• Excessive deterioration of the house
• Overgrown grass
• Zoning/municipal notices posted on windows or doors
When you see property in the condition described above, go up to the door and knock on the door and call me for free friendly advice.
   
   
  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.
   
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