Wednesday, May 26, 2010

FW: Cottage inheritance: What could go wrong?

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Residential Real Estate News - Tuesday, May 25 2010

Cottage inheritance: What could go wrong?

As Allison Marshall prepared on Friday for the drive to her parents' cottage, succession planning was on her mind. Ms. Marshall, a Toronto-based financial advisory consultant with RBC Wealth Management Services, was concerned that her parents had not yet made official plans for their retreat on Little Rideau Lake, north of Kingston, and planned to raise the issue with them.

Globe and Mail   Tue May 25 2010 - Globe and Mail

Home ownership costs increase across Canada: RBC Report

Owning a home in Canada has become even more expensive - unless you live in Alberta, according to the latest housing report by RBC Economics Research. The report says homeownership costs in Canada rose for the third straight quarter across all housing segments in the first quarter of 2010. A strong real estate market and jacked up housing prices are getting the blame for putting a strain on Canadians' bank accounts.

CBC   Tue May 25 2010 - Globe and Mail - Financial Post

Mortgage holders 'well prepared' for rate hikes - Canadian Accredited Mortgage Professionals

A survey by the Canadian Association of Accredited Mortgage Professionals says Canadians appear well prepared to face the new phase of the residential mortgage market, in which interest rates are rising and house activity is expected to ease. The survey found Consumer concern about rising rates is offset by increasing home equity. Many mortgages were renegotiated at lower rates; amortization periods are declining. ...

REM Online   Tue May 25 2010

$70 Million Closed, 7 Financing Transactions Since May 1st

Firm Capital Corporation is pleased to announce the completion of seven financing transactions that total $70,815,000 since May 1st, 2010: (i) $10,000,000 first mortgage land loan for 384,184 sq. ft. high-rise residential condominium building with 424 units in Toronto (ii) $19,000,000 loan secured by an assignment of a debenture issued by a public REIT (iii) $8,500.000 first mortgage land loan on 160 acres of development lands in Airdrie Alberta .... Firm Capital Corporation News Release, May 20, 2010


New rules cuff some mortgages to banks

A headlock would be the wrestling term to describe the hold Canadian banks will have on some consumers because of new, more strict mortgage rules. We are already seeing the impact of the changes that came into effect on April 19, but were put in place well in advance by Canadian financial institutions. Consumers are increasingly selecting fixed-rate mortgages of five years or more because it's easier to qualify for them.

Financial Post   Tue May 25 2010

Inspection program targeting marijuana grow-ops violates Charter

Surrey Mayor Dianne Watts has vowed to press on with a program to shut down grow-ops - even after it lost out in court Thursday. The B.C. Court of Appeal has ruled that the Electrical and Fire Safety Inspection program, which allowed fire officials to enter homes without warrants, violated the Charter of Rights. "We have no intention of stopping the program," Watts told The Province.

Province   Fri May 21 2010

Real estate group's warning irks private seller

A Nova Scotian woman trying to sell her own home says she received a warning letter from real estate agents that was "threatening" in tone. Ruth Copeland decided to sell her home in Amherst privately. She was surprised to get a letter from the Nova Scotia Association of Realtors warning of possible risks, from potential lawsuits to "ill-intended" strangers in her house.

CBC   Fri May 21 2010

Canadian Restaurant Investment Summit, Toronto, May 26-27 2010

Founded by GE Capital, the inaugural annual investment conference is targeted to executives of Canadian restaurant franchise systems and their real estate, lending, and advisory partners. A closer look at determining optimal locations and landlord-restaurateur relationships will be on the menu combined with other timely insights by leading financial and economic analysts.

Register for only $795 plus GST


Mike Holmes: Energize this country

We all want to reduce our environmental footprint and be more responsible about how we live. I spec-in sustainable materials in all the houses I design and build, and whenever possible, make the better, greener choice. It was a disappointment to have the federal ecoENERGY Retrofit program cancelled. I'm just a contractor, not a politician, but it seems that was a government program that was working.

National Post   Tue May 25 2010

Behind the typical facade, this is a green house worthy of 2010

Driving or walking along the leafy streets in the Governor's Bridge district of Rosedale, you might never notice the house I'm writing about this week. It's new, but it fits without a glitch into the quiet urban streetscape of similarly new, stylistically old-fashioned homes. What counts about this 3,400-square-foot dwelling is not its architecture but its exceptional efficiency.

Globe and Mail   Fri May 21 2010

Strategic Defaults Are Endangering The U.S. Real Estate Market

Housing rescue measures like HAMP have failed to address the prevalence of strategic default, viewed increasingly as a valid option that has even spawned its own industry. Negative equity levels play a key role in the decision to abandon ship on underwater mortgages, an epidemic that is mostly contained in a handful of states and reversible only by broader economic and job recovery.

NuWire Investor   Tue May 25 2010

Real Estate Forums Fall 2010 Events Calendar



September 14, 2010

Canadian Apartment Investment Conference


September 15, 2010



September 23, 2010

Ottawa Real Estate Forum


October 14, 2010

Calgary Real Estate Forum


October 20, 2010

Calgary Real Estate Leasing Conference


October 21, 2010

Global Property Market


November 30, 2010

Green Real Estate Forum


December 1, 2010

Toronto Real Estate Forum


December 1-2, 2010

For more information visit:


Home > Residential > Market Conditions

Recreational property market heats up

A lakefront summer home in Canada still costs less than it did in pre-recession times but as the days warm up, so does the market. The RE/MAX recreational property report says prices have been rising on increased demand over the past three months. Nearly 80 per cent of recreation areas posted an upswing in market activity this spring with higher prices recorded on 43 per cent of sales.

CBC   Fri May 21 2010 - Victoria Times Colonist

An Olympic pause crimps home sales

House prices held steady, but overall sales in B.C. have plummeted since the winter boom months, according to a new study of the provincial residential real estate market . Sales in the first three months of the year fell by as much as 26.7 per cent, says the report by Landcor Data Corporation, which uses all sales figures for the province, not just those reported on the Multiple Listings Service.

Globe and Mail   Fri May 21 2010

U.S. home sales jump 7.6 per cent

U.S. home sales surpassed expectations for April as government incentives provided a temporary boost to the housing market. The National Association of Realtors said Monday that sales of previously owned homes rose 7.6 per cent to a seasonally adjusted annual rate of 5.77 million. That was the best showing in five months and better than the 5.63 million units economists had expected.

Globe and Mail   Tue May 25 2010 - CBC - National Post

Home > Residential > Mortgage and Finance

CIBC cuts 5-year mortgage rate

CIBC is cutting its posted rate for a five-year closed mortgage. The bank says it lower the rate by 0.11 per cent to 5.99 per cent effective Saturday. CIBC left its other rates unchanged. The move follows a similar cut announced by Canada's other big banks on Thursday. It will be the second rate cut this month.

Globe and Mail   Tue May 25 2010

RBC, TD cut 5-year fixed mortgage rates

Canada's largest bank is lowering its five-year fixed mortgage rate, the second reduction this month. RBC Royal Bank says the posted rate for five-year mortgages will be reduced by about one-10th of a percentage point to 5.99 per cent, effective Friday. Later in the day, Toronto-Dominion bank announced it, too, was cutting its benchmark five-year rate to 5.99.

CBC   Fri May 21 2010

Vacation property best left rented

As Baby Boomers near retirement, many may be considering the purchase of a remote cottage to get away from the rat race. The fantasy may even be to retire there, sell the city home and live off the proceeds. But if you think this demographic trend will yield spectacular financial gains, you should reconsider. Most financial planners view a primary residence as an item of consumption.

Financial Post   Tue May 25 2010

Why flipping is not investing in real estate

Building a real estate portfolio can mean working toward financial freedom - or it can mean taking risks that will give you more sleepless nights than days on the golf course. The difference, according to Don Campbell, is cash flow. 'I would never buy a property that didn't have positive cash flow,' says Mr. Campbell, president of the Real Estate Investment Network.

Globe and Mail   Fri May 21 2010

Mortgage rates head for heights

Whichever way you look at it, interest rates have been pretty low of late. However, fixed-rate mortgages have already started to rise and all the signs suggest the Bank of Canada will raise rates again in June --meaning that variable mortgage rate hikes are almost sure to follow.

National Post   Tue May 25 2010

New rules cuff some mortgagees to banks

A headlock would be the wrestling term to describe the hold Canadian banks will have on some consumers because of new, more strict mortgage rules. We are already seeing the impact of the changes that came into effect on April 19, but were put in place well in advance by Canadian financial institutions. Consumers are increasingly selecting fixed-rate mortgages of five years or more because it's easier to qualify for them.

Financial Post   Tue May 25 2010

Do I pay down my mortgage or invest in RRSPs?

Dear Mike: I hate debt and have been aggressively paying down my mortgage. I feel good about it, but I want to make sure I'm doing the right thing. What is your opinion on increasing mortgage payments versus saving more for retirement?   Tue May 25 2010

Home > Residential > Renovation, Repair and Maintenance

Mow the driveway

If Stefan Barth has his way, homeowners will be mowing their driveways this season, in addition to their lawns. His Ground Solutions company specializes in an interlocking grid system made of partially recycled plastic that allows grass to grow even with vehicles parked over top.

Globe and Mail   Fri May 21 2010

Home > Residential > Taxes and Utilities

Dislike of HST could fuel underground economy

There is fear in the home renovation industry as the July 1 introduction of the HST looms, and many believe it will lead to more under-the-table cash only work by fly-by-night operators. Renovators were riding a wave of wealth while the Home Renovation Tax Credit was in effect for the year leading up to Feb. 1. Mike Dinchik, the executive officer of the GWHA, said those in the renovation industry across the province are worried.

Windsor Star   Fri May 21 2010

Home > Residential > Cities, Towns and Urban Issues

Light, bright and just right

In Stratford, Ont., a 19th-century cottage sits amiably on its perch across from the storied Festival Theatre. During the structure's many years as a bed-and-breakfast inn, a loyal clientele would gather on the verandah to watch for the arrival of the trumpeters on the theatre balcony. The fanfare meant the moment had come for the guests to cross the road in time to see the curtain rise on that evening's Shakespeare production.

Globe and Mail   Fri May 21 2010

Coming Events

Canadian Restaurant Investment Summit

Wed May 26 2010 to Thu May 27 2010
Toronto, Ontario, Canada

Real Estate Institute of Canada Annual Conference

Wed Jun 02 2010 to Sun Jun 06 2010
Niagara Falls, Ontario, Canada

BOMA Canada National Conference and Exhibition

Tue Sep 14 2010 to Thu Sep 16 2010
Toronto, Ontario, Canada

Canadian Apartment Investment Conference

Wed Sep 15 2010 to Wed Sep 15 2010
Toronto, Ontario, Canada

Atlantic Connection

Tue Oct 05 2010 to Thu Oct 07 2010
Halifax, Nova Scotia, Canada

Waste Reduction Week

Tue Oct 19 2010 to Mon Oct 25 2010
Across, all of, Canada

Market Trends and Research

Coldwell Banker Real Estate Consumer Survey

Coldwell Banker

Multi-family Market Report for Greater Vancouver

NAI Commercial

Canadian Housing Trends - 2010 Royal LePage Market Survey Forecast

Royal LePage

New Housing and the Harmonized Sales Tax: Lessons from Ontario

The C.D. Howe Institute

Canadian household debt is 'Defying Gravity'

CIBC World Markets

CREA Increases 2009 Housing Sales Estimate

Canadian Real Estate Association

$110-million to study mentally ill on streets

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