Economic recovery fuels significant upswing in sales in Canada’s recreational property markets, says RE/MAX
Serious year-over-year gains have characterized sales in most major Canadian recreational property markets this year, according to a report released today by RE/MAX. The 2010 RE/MAX Recreational Property Report, highlighting sales, prices, trends and developments in close to 50 markets from coast-to-coast, found that 79 per cent of recreational areas reported an upswing in the number of...
Read MoreReader’s Digest names RE/MAX ‘Most Trusted Residential Real Estate Brand in Canada’
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,...
Read MoreNew Law to Curb Home Sales
Come April 19, new laws will kick in designed by the conservatives to cool down the housing market. This is one good move by the feds. Record low interest rates made it easy for many to purchase rather than rent. Indeed this has been a factor for a consistent multiple-offer situations. Here is what this new law dictates: Buyers must qualify for a fixed 5 year rate, they can opt for a variable...
Read MoreHomes sales up – the half truth
Its the media frenzy to some extent that assisted the current surge in home sales. While job growth and retail sales are steadily low, home sales are up like anything. Today’s Star article titled “Toronto existing home sales skyrocket 87 per cent” is one such example. Current stats must be compared to a high sales market. The first quarter of last year was slow thanks to the...
Read MoreTrue story of the Housing Bubble
Heated housing activity throughout 2009 lends little air to bubble theory in the GTA, says RE/MAX. Single-detached housing values remain slightly off 2008 levels in 27 per cent of TREB districts. Despite limited inventory levels in the Greater Toronto Area (GTA) in the latter half of the year, double-digit price appreciation failed to materialize in the single-detached housing category in 2009,...
Read MoreThe New HST Transition Rules
The provincial government has passed legislation to combine the eight percent Provincial Sales Tax with the five percent federal Goods and Services Tax, creating a 13 percent Harmonized Sales Tax (HST). The HST is NOT YET IN EFFECT. The HST will come into effect beginning on July 1, 2010; however, note transition rules below. HST will not apply on the purchase price of re-sale homes. HST would...
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