Saturday, September 29, 2012

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Thursday, September 13, 2012

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Obvious oversupply problem in Vancouver, Toronto and Montreal

August resale and housing starts figures are now out for all three of Canada’s biggest cities, and it’s not a pretty picture. When the August resale data for Vancouver came out last week, the headline news was that sales had fallen to their second lowest level for the month since 1998. Sales were 30 per cent below what they were in August of last year and 40 per cent lower than the August average of the past 10 years.

Macleans   Wed Sep 12 2012

Montreal condo construction expected to reach near-record highs

Greater Montreal Area condo construction is expected to hit near record-high levels in 2012, with starts rising 118 per cent last month above an exceptionally weak August 2011, CMHC said. Year to date, condo starts rose 19 per cent in Greater Montreal over record-breaking 2011, even as analysts once again called for a slowdown in new construction in Canada's second largest metropolitan...

Montreal Gazette   Tue Sep 11 2012 - Montreal Gazette - Second Story

Jonathan J. Knight

Broker - Re/Max Clearview

Inc. Brokerage Independantly

Owned and Operated

O - 705 428 4500

P - 705 441 6839

F - 705 428 5951

www.CollingwoodAreaRealEstate.ca

Posted via email from collingwoodrealestate's posterous

Post

Jonathan J. Knight
Broker
RE/MAX Clearview Inc. Brokerage
202 Montreal St, Stayner L0M 1S0
705 428 4500 - office
705 441 6839 - direct
705 428 5951 - fax
877 441 6839 - free
www.jonjknight.com
looking for real estate?
www.letmeknow.ca

From: RENX Residential Real Estate News <admin@renx.ca>
Date: 13 Sep 2012 20:02:01 -0000
ReplyTo: admin@renx.ca
Subject: Obvious oversupply problem in Vancouver, Toronto and Montreal

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Residential Real Estate News Thursday, September 13 2012

Obvious oversupply problem in Vancouver, Toronto and Montreal
August resale and housing starts figures are now out for all three of Canada’s biggest cities, and it’s not a pretty picture. When the August resale data for Vancouver came out last week, the headline news was that sales had fallen to their second lowest level for the month since 1998. Sales were 30 per cent below what they were in August of last year and 40 per cent lower than the August average of the past 10 years.
Macleans   Wed Sep 12 2012

Montreal condo construction expected to reach near-record highs
Greater Montreal Area condo construction is expected to hit near record-high levels in 2012, with starts rising 118 per cent last month above an exceptionally weak August 2011, CMHC said. Year to date, condo starts rose 19 per cent in Greater Montreal over record-breaking 2011, even as analysts once again called for a slowdown in new construction in Canada's second largest metropolitan...
Montreal Gazette   Tue Sep 11 2012 - Montreal Gazette - Second Story

Calgary's condo market kicking back into gear
After rising to stratospheric heights during the boom and then nose-diving into the abyss with the onslaught of the recession, the Calgary condominium-apartment market is on the rise again. At one point, more than 9,000 condos were under construction in Calgary and area, the great bulk of those being condo apartments. A lot of announced projects were shut down because of poor sales, becoming gaping holes...
Calgary Sun   Sun Sep 09 2012 - Calgary Sun - Second Story

Student Housing Symposium, Burlington, October 18th, 2012

Includes tour of Student Housing in Buffalo, New York

Student housing is a growing market with remarkable opportunities. Over 800,000 students attend colleges and universities across Canada today. Students have more disposable income than ever before and are willing to pay top dollar for housing. Join us as we discuss the unique challenges and opportunities of financing, developing and managing student housing.

Visit the Rock Apartment Advisors website for more information and to register.

 


High home prices skewing Stats Can inflation readings
The C.D. Howe Institute says inflation may be higher than currently assumed because of Canada’s climbing house prices. The think-tank says in a new paper that Statistics Canada needs to change the way it measures housing costs that doesn’t take into account today’s unusually low interest rates.
Financial Post   Wed Sep 12 2012 - National Post - Globe and Mail

Competition Tribunal rejects constitutional challenge by TREB
A Competition Tribunal has rejected a constitutional challenge by the Toronto Real Estate Board, saying that it was filed too late and could disrupt the ongoing hearing into allegations of anti-competitive practices. The Tribunal chair announced her decision on the second day of hearings examining whether Canada’s largest real estate board is engaged in anti-competitive behaviour by restricting access...
Toronto Star   Mon Sep 10 2012 - Globe and Mail - Marketwatch

Regina Realtors to vote on leaving CREA
As Realtors in Montreal are polled this week to see if they wish to remain members of CREA, now another real estate board is posed to ask its members the same question – in Regina. Stew Fettes, a sales rep with Century 21 Dome Realty in Regina, filed a resolution to be considered at the Association of Regina Realtors (ARR) General Membership meeting on Sept. 18.
REMonline.com   Wed Sep 12 2012

Windowless condo rooms concern Calgary alderman
A Calgary alderman wants city council to immediately review a proposed condo building that won’t have windows in some bedrooms. A developer has proposed two buildings in the northwest community of Kincora, which includes two- and three-bedroom suites that have some windowless bedrooms. Ald. Gord Lowe says that's a safety concern for him, even if it's apparently allowed under the building code.
CBC   Mon Sep 10 2012

Next stage of Regent Park revitalization revealed

Regent Park is ready for Phase Three of its five-part transformation, developers announced as they unveiled a plan that includes more than 2,500 new housing units and a multipurpose outdoor athletic facility. The plan, still to be approved by city council, calls for construction of 550 replacement rental social housing units as well as 2,000 market condos.

National Post, September 12, 2012

 


Condo owners warn Calgarians to be careful when buying
Like many people, the first home that Tracy Hyrhoruk bought was a condo — a cute townhome in Calgary’s inner city, one of eight units in the complex. Practically brand new, she bought it before the boom for $160,000. All was well until one weekend she came home from a camping trip with her boyfriend and stepped into a puddle in her kitchen.
CBC   Mon Sep 10 2012 - CBC - Second Story

Ontario Real Estate Association survey reveals what's top of mind when listing
Beyond worrying about the state of the real estate market (77 per cent), a new survey from the Ontario Real Estate Association shows that Ontarians' top concerns when selling a home are understanding the process and the legal documents required in a sale (61 per cent), fixing up the home in order to list (60 per cent) and the number of days on the market before it sells (59 per cent).
Canada Newswire   Thu Sep 06 2012

M5V Realty sells condos at parties that include DJs and other A-list treats
Being on 'the list' is a fabled concept, especially in September in Toronto when the film and fashion movers are sequestered in glamorous exclusivity behind velvet ropes. After all, if your name isn’t on the list, those ropes might as well be made of titanium, because there’s no way you’re going to get past them. And now King Street condo agents M5V has taken that desire to be part of the privileged...
Toronto Star   Wed Sep 12 2012

Multi-family homes skyrocket in Winnipeg
Winnipeg's multi-family homebuilding sector is on fire, with the number of starts up 74 per cent from a year earlier and on pace to hit their highest annual level in 25 years. New figures from the Canada Mortgage and Housing Corp. show there were 1,355 multi-family units started in the first eight months this year in the Winnipeg Census Metropolitan Area.
Winnipeg Free Press   Wed Sep 12 2012

New residential condo project for Calgary's Beltline

Qualex-Landmark has announced the launch of a $100-million downtown condominium project in Calgary’s emerging Design District called MARK on 10th, which will be 34-storeys. The first stage of the construction process is underway as demolition crews start to dismantle the existing building, formerly West Canadian Graphics, at 10th Avenue and 8th Street S.W.

Calgary Herald, September 6, 2012

 


Is there any relief ahead for Toronto's crowded rental market?
Bidding wars for rental housing? That’s Toronto’s housing market for you. The vacancy rate for rentals is low, and that means landlords have the upper hand. When relations with her roommate started to sour, Alice and her boyfriend thought it was a stroke of luck that the roommate decided to move out...
openfile   Thu Sep 13 2012

Mortgage growth to slow: RBC’s Nixon
Royal Bank of Canada says the Canadian housing market is in good shape but, just the same, it is taken the precaution of stress testing its Toronto and Vancouver mortgage portfolios for a 40 per cent drop in prices and remains 'relatively comfortable' with the result.' Canada’s biggest bank by assets is anticipating slower growth in home loans with volumes slipping to mid-single digit...
Financial Post   Mon Sep 10 2012 - Financial Post - Second Story

Street Capital seeks bank charter
Mortgage broker clients could have another bank to choose from in a few years. Street Capital, the no. 4 lender in the broker channel by market share, has announced that it’s applying for a bank licence. 'We are confident we can continue to grow our mortgage business under our current model,' President Paul Grewal tells CMT. But a bank licence would give Street 'greater flexibility to offer a broader product base...
Canadian Mortgage Trends   Wed Sep 12 2012

New homebuyers left waiting for HST rebate cheques
Hundreds of B.C. new homebuyers haven't been paid their full HST rebate cheques because of a legislative delay involving the provincial and federal governments. In February, former finance minister Kevin Falcon delivered what was supposed to be great news for the real-estate market. Buyers in Vancouver especially were sitting on their hands waiting for the HST to be repealed and Falcon promised...
The Province   Tue Sep 11 2012

Slow real estate market sparks renovation revival

With resales falling and the new housing price index slipping, people appear to be staying put a bit longer and renovating their existing homes instead of moving. Peter Simpson, president and CEO of the Greater Vancouver Home Builders Association, said he spoke with several renovators and very few are fixing up homes for resale. Some clients have moved in and want to renovate.

Vancouver Sun, September 9, 2012

 


Home > Residential > Market Conditions

When moving up means moving out
Just pick up and move. Who wouldn’t, if it meant making more money or even just living in a city where the cost of living is lower or the tax burden smaller? The answer is most Canadians. Even though it’s probably one of the biggest personal financial decisions you can make — and often a sure-fire way to increase your net worth — we seem to have a degree of inertia other countries don’t share.
Financial Post   Sat Sep 08 2012

Canada’s housing starts surge as Toronto condos break ground - CMHC
Canadian housing starts surged unexpectedly in August as a few large multi-unit projects in Toronto, presold in late 2010 and early 2011, broke ground, data from the Canada Mortgage and Housing Corp showed. The seasonally adjusted annualized rate of housing starts was 224,900 units in August, compared with 208,000 units in July. The July figure was revised down slightly from 208,500 units...
Financial Post   Tue Sep 11 2012 - Globe and Mail - CBC - Marketwire

B.C. Real Estate - 'You can’t burst a bubble that wasn’t there'
Sagging home sales and flat ­prices have prompted speculation that the 'housing bubble' might be about to burst — a prospect that immediately catches the attention of British Columbians. But there is no housing bubble, according to Tsur Somerville, director of the University of B.C.’s Centre for Urban Economics in the Sauder School of Business. 'You can’t burst a bubble that wasn’t there.'
The Province   Sun Sep 09 2012

Don’t wait on sidelines of GTA condo market
If you’re waiting on the sidelines until GTA condo prices cool off, you may be sitting for a long time. Genworth capital released their Summer Metropolitan Condo Outlook report that forecasts Toronto condo prices will increase by 2.5 per cent in 2013, with an average price of $312,352. The report cites rising single-home prices (that are driving first-time buyers into the condo market)...
National Post   Thu Sep 13 2012

Condos blamed for Ottawa housing slowdown
The number of new homes started by Ottawa builders fell in August, due largely to a slowdown in condominium construction, according to Canada Mortgage and Housing. The federal agency said a total of 374 new units were started by builders in August, a 42.5-per-cent drop from the 650 units started in August 2011. 'Following a very strong second quarter and relatively slower demand for new homes...
Ottawa Citizen   Mon Sep 10 2012 - Ottawa Business Journal

Home > Residential > Mortgage and Finance

Doors shutting on first-time home buyers
The Toronto and Vancouver housing markets have cooled rapidly in the wake of Ottawa’s latest bid to stop a bubble, with many first-time buyers knocked out of the running. Finance Minister Jim Flaherty put changes into effect to curb growing mortgage debt levels and take some steam out of house prices. Among other things, the new rules cut the maximum length of insured mortgages to 25 years from 30.
Globe and Mail   Fri Sep 07 2012 - Canadian Mortgage Trends

Understanding the mortgage rules
Recent government changes to mortgage rules may have some people scratching their heads, or debating to apply for a mortgage. The government made significant changes to the mortgage rules over the last four years, with the most recent changes tightening qualifying conditions for borrowers. Introduced in July, these changes affect what the Canada Mortgage and Housing Corp., Genworth Financial...
Calgary Herald   Mon Sep 10 2012

Third quarter bank roundup
Some of the Big 6 Banks posted surprising mortgage growth in the third quarter. That contributed to record profits in the cases of Royal Bank, Scotiabank and TD. It also helped the five biggest banks boost shareholder dividends. But with a laundry list of new mortgage restrictions kicking in, many question whether coming quarters will be as prosperous. For insights along these lines, we turned straight...
Canadian Mortgage Trends   Sun Sep 09 2012

Home > Residential > Buying and Selling

Real estate agent must be paid $15,000, court rules
An Ontario Court has ruled that you can’t get away with not paying commission when you sign an agreement with a real estate agent. It means when you agree to pay an agent to find a home, it means that if you end up buying a home during the time period of your contract, you have to pay commission. You can’t change your mind later.
Moneyville   Fri Sep 07 2012

Vancouver real estate: Like selling a couch on Craigslist
Chances are, if you’ve got a leather couch that you’re trying to unload on Craigslist and it isn’t selling because there are 20 others in a similar price range, you’d likely drop your asking price since you’ve already purchased a replacement. If detached homes on Vancouver’s uber-expensive West Side were sofas, well, you’d have almost a thousand to choose from right now.
Vancouver Observer   Thu Sep 13 2012

Ask for a great rate
In sales and in life, people want more. They want more business, they want a better deal on their mortgage, they want a raise... In my book 'Life is Sales,' I discovered that most adults rarely ask for what they want. They much prefer to hint at their desires instead.
Canadian Mortgage Trends   Wed Sep 12 2012

Parasailing and para-selling
How does parasailing compare to para–selling? Recently on our annual visit to my sister-in-law’s summer home at Presqu’ile (near Brighton, Ont.), I encountered a young man about to launch himself on a parasailing chute. I’d never seen how these brave souls get up off the water and how they prepare themselves to go aloft.
REMonline.com   Tue Sep 11 2012

Rent-to-own a home: Beware the risks
Last year, as I was buying my first home in Vancouver, I came across a handful of listings offering rent-to-own or lease options on homes. These deals as exactly as they sound – a homeowner rents to a tenant and the tenant has an option to buy the home for a predetermined price at the end of the lease. On the surface, it seems like a mutually beneficial agreement for both parties...
Moneyville   Mon Sep 10 2012

When you need a lawyer
Numerous lawsuits are instituted against professionals. Yes, some are 'try-ons’ but many require a settlement ultimately and a very few go to some form of adjudication. As a defence Errors and Omissions lawyer, I have learned and believe in the saying, 'But for the grace of God go I.' This saying reminds me of the personal as well as legal aspects of assisting a professional in a most stressful situation.
REMonline.com   Fri Sep 07 2012

Home > Residential > Construction

Wood-panel Passivhaus in British Columbia
Marken Projects is working on another Passive House in British Columbia. This 3,500-square-foot home, made with a panelized prefab system like the Rainbow Duplex, will house two families and three generations under the same roof in Surrey, British Columbia. The aim is an affordable structure that uses 90 per cent less energy for heating and cooling than a standard home.
Jetson Green   Wed Aug 29 2012

Westboro — the condo-munity
The condo scene in Westboro is hot. Jalapeno hot. It seems every time you pass through the neighbourhood, a new condo is on the rise. And why not when Westboro has achieved cult status among the young and urban hip? The streets are filled with meandering mothers and Lululemon wearers. There are bikers, hikers, inline skaters and walkers. In fact, the focus seems to be on community and healthy and active...
Ottawa Citizen   Fri Sep 07 2012

Mike Holmes: Katrina’s lessons hit hard
I don’t know what it is about Aug. 29 and New Orleans. But it seems like ever since Hurricane Katrina, New Orleans gets hit with a major storm on the anniversary. In 2008, my crew and I were there building a home for a Hurricane Katrina victim. Our target date to complete the build was Aug. 29 — the three-year anniversary of the disaster. Thanks to a lot of help, we met our deadline.
National Post   Mon Sep 10 2012

Home > Residential > Cities, Towns and Urban Issues

Ottawa Parkway condo plans revised
Another set of revisions have been submitted to the city regarding a proposed development in Beaverbrook. Developer Ken Hoppner, of the Morley Hoppner Group, has submitted a third modification to his application to rezone the land at 2 The Parkway. The changes include 10 townhouses and a 10-storey apartment building.
YourOttawaRegion   Thu Sep 13 2012

Cruise ship may solve housing dilemma - Long Harbour Development Corporation
A nickel mining company that's building a refinery in Long Harbour is floating an unconventional solution to the severe housing shortage in the area. A giant cruise ship from Greece has been lined up for use as a floating hotel for the company's workers. Now, nickel giant Vale has been granted approval to bring the ship to the area and use it to house their employees.
CBC   Thu Sep 06 2012

Housing program offers helping hand
A local home share program is taking a unique approach to Calgary’s rental crunch and is connecting seniors with students to fill vacant rooms and provide household support. The Calgary HomeShare Program helps students with cheap housing in exchange for helping the homeowner around the house. Vivian Toews was recently widowed and can still do most things on her own but sometimes she needs a little help...
CTV   Tue Sep 11 2012

Home > Residential > Condominium Management

Valley strata owners challenged by depreciation reports
Nearly a quarter of Vancouver Island property owners face a new government regulatory requirement for a depreciation report. Depreciation reports provide a plan and budget for strata properties to deal with major repairs or replacement of the 'systems' the owners share - everything from the roof to windows and patio doors to elevators and fire prevention systems.
Canada.com   Fri Sep 07 2012

Unexpected operating costs difficult to estimate
Our first-year budget calculated by the builder does not seem realistic. The directors feel that our monthly maintenance fees will have to be increased in order to cover our first-year expenses. Our condominium was registered a few months ago. Therefore, can our condominium corporation ask the developer to pay for the shortfall months after our condo was registered?
National Post   Thu Sep 13 2012

Courts rule that dog ban is ‘unreasonable’
Q: We have a problem with dogs owners who refuse to clean up after them. We would like to prohibit new dogs but permit residents to keep dogs that they presently have. Since it is difficult to amend the declaration can we pass a rule? A: The courts have held that a rule banning dogs is unreasonable and thus unenforceable.
Toronto Star   Fri Sep 07 2012

Home > Residential > Renovation, Repair and Maintenance

Leslie took roof off Mount Pearl apartment building
People across the island of Newfoundland are cleaning up after tropical storm Leslie screamed through the area. Wind gusts of more than 130 kilometres an hour left a path of destruction on the Avalon Peninsula — uprooting trees, toppling power lines and ripping apart some buildings. The Pearl Gate apartment complex in Mount Pearl was one of the hardest hit. Most of the roof was blown off, damaging cars parked below.
CBC   Wed Sep 12 2012

Make the most of your condo’s outdoor space
The most wonderful thing about buying a new condo is that it will most probably afford fantastic views of the city or skyline. It puts things in perspective to see the world from new heights. Even if you’re in a townhouse instead of a condo, you might have the sense that you are no longer responsible for caring for outdoor space. Goodbye to lawn mowing, ciao to raking leaves, sayonara to snow removal.
Montreal Gazette   Sat Sep 08 2012

Home > Residential > Other

Filling a safety gap with an app
It was while working as an analyst at the BlackBerry Partners Fund that Josh Sookman came up with the idea for a mobile application focused on personal safety, which led to the startup of Guardly. 'We sat around the table discussing what attributes of mobile devices made those types of services compelling, and we agreed that location and saving time were two of the most important attributes,' he said.
Financial Post   Wed Sep 12 2012 - Guardly

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Wednesday, September 12, 2012

great business

click to check out this great property

I've posted a new listing!

I've posted a new listing!

I've posted a new listing!

I've posted a new listing!

I've posted a new listing!

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The following CBC News item may be of interest to you:  Ontario couple seeks injunction to stop wind farm expansion

"A rural Ontario couple is heading to court to halt development of a large wind farm near the shores of Lake Huron - at least until Health Canada completes a new two-year study on the potential risks of living next to industrial wind turbines."  Read more at www.cbc.ca/news/canada/story/2012/09/10/wind-farm-injunction-ontario-couple.html


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Posted via email from collingwoodrealestate's posterous

Monday, September 10, 2012

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Soaring commodity values and limited supply continue to push Canadian farmland values to new heights, with price per acre now commanding top dollar in most markets across the country, says RE/MAX.

The RE/MAX Market Trends Report, Farm Edition 2012, highlighting trends and developments in 16 markets throughout Canada, found that prices have increased almost across the board this year with only the Annapolis Valley, parts of Windsor/Essex, and the Fraser Valley reporting levels on par with 2011. Tight inventory has been an issue in all markets, restricting year-over-year sales activity to a large extent. While low interest rates, high commodity prices, and nutrient/supply management requirements have been the primary factors fueling the trend toward expansion, increased advancement in farm equipment has also been behind the push for additional acreage.

Jonathan J. Knight

Broker - Re/Max Clearview

Inc. Brokerage Independantly

Owned and Operated

O - 705 428 4500

P - 705 441 6839

F - 705 428 5951

www.CollingwoodAreaRealEstate.ca

REMAX_Farm_2012_REL.pdf Download this file

Posted via email from collingwoodrealestate's posterous

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whether you are buying or selling do the right things FIRST!
please seek out a professional you trust and can be loyal too......

its the right thing to do ---- have a read if you are of another thought...... like agent are "----- ------" or worse!

it could be expensive

Posted via email from collingwoodrealestate's posterous

Friday, September 7, 2012

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Media Release - August 2012 MLS Stats.pdf Download this file

Jonathan J. Knight
Broker
RE/MAX Clearview Inc. Brokerage
202 Montreal St, Stayner L0M 1S0
705 428 4500 - office
705 441 6839 - direct
705 428 5951 - fax
877 441 6839 - free
www.jonjknight.com
looking for real estate?
www.letmeknow.ca

From: "GTAR-Patricia" <pwest@gtrealtors.ca>
Date: Fri, 07 Sep 2012 15:49:13 -0400
To: JONATHAN J KNIGHT<jonjknight@remax.net>
Subject: Media Release - MLS® Statistical Information for August 2012

Attached FYI is the summarized Media Release created by CREA for the month of August which has been issued to the media.

If there are any questions, please don’t hesitate to contact your Association.
 
Patricia West
Executive Assistant
Georgian Triangle Association of REALTORS®
pwest@gtREALTORS.ca
www.gtREALTORS.ca
(705) 445-7295 (phone)
(705) 445-7253 (fax)

Posted via email from collingwoodrealestate's posterous