Wednesday, December 19, 2012

GTA REALTORS® RELEASE MID-MONTH RESALE FIGURES

TORONTO, December 18, 2012 - Greater Toronto Area REALTORS® reported 2,169 transactions through the TorontoMLS system during the first 14 days of December 2012. This number of sales was down by 16 per cent in comparison to the same period in December 2011.

"Stricter mortgage lending guidelines, including a reduced maximum amortization period and a one million dollar purchase price ceiling for government-backed insured mortgages, appear to have had the effect desired by Finance Minister Jim Flaherty. Some home buyers have put their home purchase decision on hold," said Toronto Real Estate Board (TREB) President Ann Hannah.

"In the City of Toronto, sales declines have been more pronounced as the effect of stricter mortgage lending guidelines has been compounded by the City's additional upfront Land Transfer Tax," added Hannah.

The average selling price in the first two weeks of December was $471,862, representing a three per cent annual rate of price growth.

"Even with the dip in sales since the spring, tight market conditions in the low-rise segment of the market have driven year-over-year average price growth," said Jason Mercer, TREB's Senior Manager of Market Analysis.

"While the average price for detached homes in the City of Toronto was down for the first two weeks of December compared to last year, this dip was due to a different mix of homes sold this year compared to last. There were fewer high-end detached homes sold compared to last year," continued Mercer.


Wednesday, December 12, 2012

NEW LISTING! Luxury duplex in Moore Park!

Main Floor Available For Lease! Totally renovated, never lived in — 2 bedrooms, 2 fabulous bathrooms — shiny new appliances, new windows, pot lights, gas fireplace in living room, hardwood floors, parking for 2 cars! TTC at your doorstep, 5 minutes to Yonge & St. Clair! Minimum 1 year lease (longer is preferred). No pets & no smoking. 
Visit http://www.bonniebyford.com/properties.html for more info!

Tuesday, December 11, 2012

Josh Matlow's Budget Town Hall Meeting - Thurs Dec 13th, 2012

Josh Matlow's 3rd annual Budget Town Hall Meeting. 
Josh will be hosting a Budget Town Hall meeting on Thursday, December 13th from 6:30 pm to 8:30 pm at the North Toronto Memorial Community Centre. City Staff will be available to answer any budget-related questions you might have. The decisions Council will make in January on the 2013 Budget will impact every Toronto resident. It is vital that you are informed, engaged and given the opportunity to make your voice heard.

Date: Thursday, December 13th, 2012
Time: 6:30 pm to 8:30 pm
Location: North Toronto Memorial Community Centre, Multi-Purpose Room, 200 Eglinton Ave W (at Lascelles Blvd)

Friday, December 7, 2012

DIY Home Staging!

Yes, you CAN stage your own home!

Homeowners Michelle and Randy did just that.

After two weeks of extremely hard work, their home looked like a page out of a magazine!

Decluttering, painting, repairs, cleaning and moving furniture around were accomplished with the help of a small army of friends and family.  In fact, Michelle and Randy were so ambitious that they even sanded and re-finished their hardwood floors. 

For the perfect finishing touch, local artist & friend Marjolyn van der Hart (www.marjolyn.com) placed some of her artwork around their home.  Wow!  The result was breathtaking!

Note that there are professionals who specialize in home staging, and they are VERY good at what they do!  Professional home stagers are trained in home design and can make your home look beautiful.  They will also provide furniture and accessories to update your "look" as part of their service.  Michelle told us that after her DIY home staging experience, she appreciated professional home stagers even more.

The moral of this story is that DIY Home Staging is not for the faint of heart -- but, if you have the time, determination, creativity & the right group of friends -- you too can do it yourself! 

Michelle says, "2 weeks of craziness for a really good outcome!  Don't give up!".

(Michelle & Randy received 5 offers on their home & it was sold in less than a week.  Congratulations!!!)

Wednesday, December 5, 2012

Sales Dip in November while Selling Prices Increase

TORONTO, December 5, 2012 -- Greater Toronto Area REALTORS® reported 5,793 sales in November 2012 - down by 16 per cent compared to November 2011. "Transactions have been down on a year-over-year basis since June, after being up substantially in the last half of 2011 and the first half of 2012. Some buyers pulled forward their decision to purchase, which has impacted sales levels in the second half of 2012," said Toronto Real Estate Board (TREB) President Ann Hannah.

"Stricter mortgage lending guidelines, including a reduced maximum amortization period and a purchase price ceiling of one-million dollars for government insured mortgages, have prompted some buyers to move to the sidelines. This situation has been exacerbated in the City of Toronto because the additional upfront Land Transfer Tax takes money away from buyers that otherwise could be used for a larger down payment," continued Hannah.

The average selling price was up by 1.6 per cent annually to $485,328. The MLS® Home Price Index (MLS® HPI) Composite Benchmark was up by 4.6 per cent compared to last year.

"The moderate annual rate of price growth compared to previous months was largely due to a different mix in detached home sales this year compared to last, particularly in the City of Toronto. The share of detached homes that sold for over one-million dollars was down substantially, which influenced the overall average price," said Jason Mercer, TREB's Senior Manager of Market Analysis.

"The MLS® HPI detached benchmark price, which tracks the price for a home with the same attributes over time, was up by almost six per cent in Toronto, suggesting that market conditions for low-rise homes remain quite tight despite a changing mix of sales," added Mercer.

To read the full report, please visit: http://www.bonniebyford.com/mw1211.pdf



TREB Housing Market Charts - November 2012