Real Estate Information: Pickering, Ajax, Pickering Village, and Durham Region

Market More Balanced in June

Steinhausen — Wed, 07 Jul 2010 18:11:49 +0000

July 6, 2010 — Greater Toronto REALTORS® reported 8,442 sales through the Multiple Listing Service® (MLS®) in June. This represented a 23 per cent decrease compared to the record 10,955 sales reported in June 2009. Sales for the second quarter of 2010 amounted to 28,810 – up one per cent annually. Year-to-date sales through June were up 23 per cent to 50,455 compared to the first six months of 2009.

“We experienced a record number of existing home sales during the first half of 2010, but these sales were weighted more towards the beginning of the year,” said Toronto Real Estate Board President Bill Johnston. “The pace of home sales has moderated from record levels over the past two months with the prospect of higher mortgage rates.”

The average price for June transactions was $435,034 – up eight per cent compared to the average of $403,972 recorded for June 2009.

“With more homes to choose from in the second quarter, many home buyers have been making less-aggressive offers. This has resulted in less upward pressure on the average selling price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The annual rate of average price growth in the second half of 2010 will be in the single digits.”

Median Price
In June, the median price was $367,750, from the $345,000 recorded during June of 2009.

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GTA REALTORS® Report Mid-Month Resale Housing Figures

Steinhausen — Thu, 17 Jun 2010 18:14:52 +0000

TORONTO, JUNE 16, 2010 ‐ Greater Toronto REALTORS® reported 4,139 sales through the Multiple Listing Service® (MLS®) during the first two weeks of June 2010. This represented a 20 per cent decrease compared to the 5,185 sales recorded during the same period in 2009. New listings increased by 21 per cent annually to 7,985.

“The pace of existing home sales in the GTA has slowed to more normal levels following a record-setting start to 2010,” said Toronto Real Estate Board President Tom Lebour.

“Due to higher mortgage carrying costs, sales in the second half of 2010 will not be as high as what was experienced during the last six months of 2009.”

The average price for June mid-month transactions was $437,039 – up seven per cent compared to the average of $407,716 recorded during the first 14 days of June 2009.

“The seller’s market conditions experienced during the first few months of the year have given way to more balanced conditions. Home buyers are experiencing more choice,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “With more choice in the market place, price growth is starting to slow.”

Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 30,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.

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May Sales Remain High

Steinhausen — Fri, 04 Jun 2010 13:52:57 +0000

June 3, 2010 — Greater Toronto REALTORS® reported 9,470 sales through the Multiple Listing Service® (MLS®) in May, representing a one per cent dip from May 2009. In comparison to previous years, this was the third highest May sales result on record.

“The pace of transactions slowed in May following record-setting sales in February, March and April,” said Toronto Real Estate Board President Tom Lebour. “Buyers who otherwise would have been purchasing a home in May moved more quickly this year, likely to get ahead of mortgage rate hikes.”

New listings were up 38 per cent annually to 18,940. The average price for May transactions was $446,593 – up 13 per cent compared to the average of $395,609 recorded in May 2009.

“The gap between listings and sales has widened, which means there is more choice for buyers,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The annual rate of price growth will slow in the second half of 2010, from the current double digit pace into the single digits.”

Median Price
In May, the median price was $376,750, from the $337,000 recorded during May of 2009.

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Home Scene: Where memories are made

Steinhausen — Mon, 31 May 2010 17:42:39 +0000

After laughing at Shrek in 3D Sunday evening, I relaxed in bed with a book. I could hear Jeremy talking to someone on line with his new PS3 game in the living room. The girls had been tucked into bed: Kailey tired after a soccer tournament and Grace after 3 hours of homework and the movie.

There was a quiet knock on the door and Nancy calls Grace to come in. She immediately stretches her arms out to welcome our baby into them. Grace sees scary people whenever she closes her eyes. My wife reminds her that Shrek wasn’t scary and that maybe we shouldn’t be watching scary shows on television. Grace tells us a story about how a couple of years ago, Jeremy made her watch Grunge on television and it still scares her. He made you, my wife comments. He sat on me.

That could be true, and Grace is scared and tired, and so are we. Nancy offers to have her sleep with Kailey (she has a big bed). She gets Grace a favorite stuffed animal. Kailey rolls over and asks what’s going on. Grace is going to sleep with you; she’s scared. Okay.

We relax back in bed with the ceiling fan cooling our skin.

That’s home.

Want one? Call me.

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Canadian Real Estate Association says “Canada’s hot resale housing market starting to cool”

Steinhausen — Fri, 28 May 2010 18:08:14 +0000

(OTTAWA – May 17, 2010) Home sales activity in Canada came up short of the record for the month of April and new listings continued to climb, according to statistics released by The Canadian Real Estate Association (CREA).Residential sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards numbered 52,042 units in April 2010. This is less than one per cent short of the record for national sales activity during the month of April, which was set in 2007. Compared to April 2009, national activity was up 20 per cent.Seasonally adjusted national home sales activity slipped 2.6 per cent from the previous month, and now stands 6.8 per cent below the peak reached in December 2009. More than half of the decline in activity over the first four months of 2010 resulted from fewer sales in British Columbia, while activity in Ontario and Quebec remains at or near record levels. “The easing trend in national sales activity masks a rising trend in a number of major markets,” said CREA President Georges Pahud. “Real estate is local, so buyers and sellers should engage the services of a REALTOR® for knowledge about housing market trends in their market.”Some 99,901 homes were newly listed for sale on Canadian MLS® Systems in April 2010, surpassing the previous record for the month of April set in 2008 by six-tenths of one per cent. A total of 236,397 residential properties were listed for sale on Boards’ MLS® Systems at the end of April 2010, down 1.9 per cent from levels one year earlier. As for the national average price of homes sold via Canadian MLS® Systems, that figure rose 12.2 per cent over this time last year. This is a smaller increase compared to those recorded over the past eight months. Bucking the national trend, price gains continue to increase in a number of major markets in Alberta, Ontario and Quebec.With last year’s string of downwardly skewed average price values having now mostly passed, and with activity in British Columbia’s lower mainland having settled down, year-over-year national average price comparisons are coming back into line with changes in the national weighted average price.The weighted average price compensates for changes in provincial sales activity by taking into account provincial proportions of privately owned housing stock. It climbed 11.3 per cent on a year-over-year basis in April 2010. Similarly, the residential average price in Canada’s major markets climbed 12.9 per cent year-over-year in April, while the weighted major market average price rose 12.1 per cent. The actual (not seasonally adjusted) number of months of inventory stood at 4.5 months in April 2010. This is down from levels one year ago (5.6 months) and April 2008 (4.7 months), but up compared to April levels from 2004 through 2007. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.On a seasonally adjusted basis, months of inventory stood at 5.3 months in April, the highest level since last May.“Next month will mark the passage of one year since the national average price rebounded from the recessionary trough to return to the pre-recession peak, so the rise in the national average price is expected to be more subdued next month, ” said CREA Chief Economist Gregory Klump. “The national average price could potentially be skewed higher over the next couple of months if buyers of higher priced homes in Ontario and British Columbia move their purchase decision forward to beat the introduction of the HST in July.”
PLEASE NOTE: The information contained in this news release combines both major market and national MLS® sales information from the previous month. The Canadian Real Estate Association has previously released these separately.CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 96,000 REALTORS® working through more than 100 real estate Boards and Associations.Further information can be found at http://www.crea.ca/public/news_stats/pdfs/media_apr10rpt.pdf

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GTA REALTORS® Report Mid-Month Resale Housing Figures

Steinhausen — Thu, 20 May 2010 15:12:47 +0000

TORONTO, May 19, 2010 - Greater Toronto REALTORS® reported 4,887 sales through the Multiple Listing Service® (MLS®) during the first two weeks of May.

This represented a seven per cent increase compared to the 4,561 sales recorded during the same period in 2009. New listings increased by 48 per cent annually to 10,059.

“The average household looking to purchase a home continued to benefit from affordable opportunities in the first half of May,” said Toronto Real Estate Board President Tom Lebour. “The number of done deals will remain high for the remainder of 2010, but will dip from record levels.”

The average price for May mid-month transactions was $448,641 – up 12 per cent compared to the average of $399,811 recorded during the first 14 days of May 2009.

“The total number of homes currently listed in the GTA is now within a more normal range. As buyers benefit from more choice in the second half of 2010, average selling prices will grow at a slower pace,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

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Are You Ready For Rising Interest Rates?

Steinhausen — Wed, 12 May 2010 16:46:56 +0000

The Bank of Canada has stopped promising to keep interest reates rock bottom. In fact, most financial institutions have already started to jack them up. The posted rate for banks is about 6.25%* which is up from March when it was 5.25%.

Are your ready for it?

The CMHC studied current home owners and found that, yes, the majority are comfortable with their mortgage debt load and are confident that things are going to stay that way. According to an Investor’s Group report, forty-one percent of Canadians said that their financial security could withstand a three percent increase in mortgage interest rates.

“A three percent increase in mortgage rates…implies mortgage payments for these borrowers could increase an average of $444 per month for an mortgage of $254,514.

Can your budget handle it?

* You should not that you can negotiate a better interest rate at most institutions, depending on a number of factors.

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April Experiences Record Number of Buyers and Sellers

Steinhausen — Fri, 07 May 2010 19:56:26 +0000

May 5, 2010 — Greater Toronto REALTORS® reported 10,898 sales through the Multiple Listing Service® (MLS®) in April, representing a 34 per cent increase compared to April 2009. There were also 20,683 new listings in April – a 59 per cent annual increase. Both the sales and new listings results amounted to new records for the month of April under the current Toronto Real Estate Board (TREB) boundaries.

“The GTA resale market is functioning properly. Sales were high as buyers continued to take advantage of affordable home ownership opportunities. Listings grew as home owners reacted to strong sales and price growth,” said Toronto Real Estate Board President Tom Lebour. “More balanced market conditions will result in sustainable rates of annual price growth in the second half of 2010.”

The average price for April transactions was $437,600 – up 13 per cent compared to the average of $385,641 recorded in April 2009.

“Home sales continue to be driven by many different segments of the market, with sales growth for all major home types in both the City of Toronto and surrounding 905 regions,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales will remain strong in the second half of 2010, but will slip from the current record pace as borrowing costs rise.”

Median Price
In April, the median price was $373,000, from the $330,000 recorded during April of 2009.

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Reader’s Digest names RE/MAX ‘Most Trusted Residential Real Estate Brand in Canada’

Steinhausen — Tue, 04 May 2010 18:21:22 +0000

Mississauga, ON (May 3, 2010) ‐‐ Dedication, skill, and professionalism earned RE/MAX realtors the designation of Most Trusted Residential REALTOR in Canada by Reader’s Digest magazine. Reader’s Digest will unveil its “Most Trusted Brands” list in its May 2010 issue. The magazine commissioned independent third party Harris/Decima to conduct 1,500 online surveys among a random sample of its panel members from October 2 – 15, 2009.

“The results of the survey are proof positive that our sales associates are the best in the business,” says Michael Polzler, Executive Vice President, RE/MAX Ontario‐Atlantic Canada. “We’ve built a solid reputation based on consistent results. RE/MAX associates sell one in every three homes in Canada and carry more professional designations than any other realtor in Canada. We’re specialists in all niches from residential, recreational, and commercial properties to luxury homes. Our focus has always been service excellence, which includes a serious emphasis on professional development and education. The status quo may work for some, but after almost 40 years in the business, we’re not content to rest on our laurels. “Reader’s Digest looked at 28 different product categories

‐‐ ranging from cereal to residential real estate – and allowed consumers to select the brands that they trusted the most. RE/MAX joins leading brands such as RBC Royal Bank, TD Canada Trust, Air Canada, and Blackberry.

“Our commitment to the communities in which we live and work also runs deep,” says Polzler. “I think that’s something that has always set RE/MAX apart. We’ve been involved in charitable giving long before the terms ‘corporate philanthropy’ and ‘cause marketing’ were common. RE/MAX realtors participate in countless vital programs and causes each year that help the most vulnerable members of our society and strengthen the foundation of neigbhourhoods from coast to coast. Their enthusiasm, spirit and dedication to others never fails to inspire.”

Charitable giving is woven into the fabric of the RE/MAX organization. The company and its sales force has demonstrated a strong desire to give back, exceptionally active in both corporate and local charities. Close to $40 million has been raised in support of Children’s Miracle Network since 1992 – which funds research and development, outreach programs and upgrades to equipment and facilities at children’s hospitals and foundations across the country. The Canadian Breast Cancer Foundation is also a cause close to the hearts of RE/MAX associates—one that RE/MAX continues to support through its popular Sold on a Cure Program and the annual Yard Sale for the Cure.

RE/MAX is Canada’s leading real estate organization with over 17,500 sales associates situated throughout its more than 680 independently‐owned and operated offices across the country. The RE/MAX franchise network, now in its 37th year, is a global real estate system operating in 80 countries. Over 6,450 independently‐owned offices engage over 92,000 member sales associates who lead the industry in professional designations, experience, and production, while providing real estate services in residential, commercial, referral, and asset management.

For more information,visit: www.remax.ca.

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15 Tools That Every Homeowner Should Own

Steinhausen — Mon, 03 May 2010 20:19:58 +0000

By Nick Gromicko and Rob London

The following items are essential tools but this list is by no means exhaustive. Feel free to ask an InterNACHI inspector during your next inspection about other tools that you might find useful.

1. Plunger

A clogged sink or toilet is one of the most disturbing problems that you will face. With a plunger on hand, however, you can usually remedy these troubling plumbing issues relatively quickly. It is best to have two plungers — one for the sink and one for the toilet.

2. Combination Wrench Set

One end of a combination wrench set is open and the other end is a closed loop. Nuts and bolts are manufactured in standard and metric sizes and because both varieties are widely used, so you’ll need both sets of wrenches. For the most control and leverage, always pull the wrench toward you, instead of pushing on it. Also, avoid over-tightening.

3. Slip-Joint Pliers

Use slip-joint pliers to grab hold of a nail, a nut, a bolt, and much more. These types of pliers are versatile because of the jaws, which feature both flat and curved areas for gripping many types of objects. There is also a built-in slip-joint, which allows the user to quickly adjust the jaw size to suit most tasks.

4. Adjustable Wrench

Adjustable wrenches are somewhat awkward to use and can damage a bolt or nut if they are not handled properly. However, adjustable wrenches are ideal for situations where you need two wrenches of the same size. Screw the jaws all the way closed to avoid damaging the bolt or nut.

5. Caulking Gun

Caulking is the process of sealing up cracks and gaps in various structures and certain types of piping. Caulking can provide noise mitigation and thermal insulation, and control water penetration. Caulk should be applied only to areas that are clean and dry.

6. Flashlight

None of the tools in this list is of any use if you cannot visually inspect the situation. The problem, and solution, are apparent only with a good flashlight. A traditional two-battery flashlight is usually sufficient, as larger flashlights may be too unwieldy.

7. Tape Measure

Measuring house projects requires a tape measure, not a ruler or a yardstick. Tape measures come in many lengths, although 25 feet is best. Measure everything at least twice to ensure accuracy.

8. Hacksaw
These are great for cutting metal objects such as pipes, bolts and brackets. Hacksaws look thin and flimsy, but they’ll easily cut through even the hardest of metals. Blades are replaceable, so focus your purchase on a quality hacksaw frame.

9. Torpedo Level
Only a level can be used to determine if something, such as a shelf, appliance or picture, is correctly oriented. The torpedo-style level is unique because it not only shows when an object is perfectly horizontal or vertical, but it also has a gauge that shows when an object is at a 45-degree angle. The bubble in viewfinder must be exactly in the middle, not merely close.

10. Safety Glasses / Goggles
For all tasks involving a hammer or a power tool, you should always wear safety glasses or goggles. They should also be worn while you mix chemicals.

11. Claw Hammer
A good hammer is one of the most important tools you can own. Use it to drive and remove nails, to pry wood loose from the house, and in combination with other tools. They come in a variety of sizes, although a 16-ounce hammer is the best all-purpose choice.

12. Screwdriver Set
It is best to have four screwdrivers: a small and large version of both a flat-head and a Phillips- head screwdriver. Electrical screwdrivers are sometimes convenient, but they’re no substitute. Manual screwdrivers can reach into more places and they are less likely to damage the screw.

13. Wire Cutters

Wire cutters are pliers designed to cut wires and small nails. The “side-cutting” (unlike the stronger “end-cutting” style) style is handy, but not strong enough to cut small nails.
14. Respirator / Safety Mask
While paints and other coatings have become less toxic (and lead-free) over time, most still contain dangerous chemicals, which is why you should wear a mask to avoid accidentally getting them in your lungs. A mask should also be worn when working in dusty or dirty environments. Disposable masks usually come in packs of 10 and should be thrown away after use. Full and half-face respirators can be used to prevent the inhalation of very fine particles that ordinary facemasks will not not stop.

15. Duct Tape

This tape is extremely strong and adaptable. Originally, it was widely used to make temporary repairs to many types of military equipment. Today, it’s one of the key items specified for home emergency kits because it is water-resistant and extremely sticky.

In summary, the above is a list of tools that every homeowner should have.

For the best inspector in your neighborhood, visit http://www.InspectorSEEK.com

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