2011 RRSP Contribution: Pros and Cons

Great article in www.MoneyVille.ca

The RRSP deadline is Feb. 29, so you have just three days left to contribute. I’ve already put money into my own registered retirement savings plan.

Why not wait until the last minute, as many people do? I worried that missing the deadline could cost me money.

Click here for more.

Please contact me direct at 416-520-6746 or by email, David@TorontoRealEstate.ca

Rise in Interest Rates a “Negligable Risk” For Canadian Home Owners: Report

Great article in www.NewinHomes.com

The business side of building is an obsession for a few of us, but a necessity for so many more. The Canadian Association of Accredited Mortgage Professionals (CAAMP) chief economist Will Dunning this month released “Employment Impacts of Housing and Mortgage Activity,” reporting that housing and mortgage activities in Canada account for more than 1.35 million direct and indirect jobs, or about 8% of total Canadian employment.

In the last five years, the report continues, rising home values have led to an estimated $17 billion in additional economic activity, or about 1.2% of total GDP in Canada.

Click here for more.

Please contact me direct at 416-520-6746 or by email, David@TorontoRealEstate.ca

Real Estate Musings

Starbuck’s Coffee:  Please join my new Real Estate Fan Page at www.Facebook.com/TorontoCondosandHomes . When I reach 100 Fans I will be giving away a bunch of Starbuck’s gift cards.

Today’s Quote:  “Everyone thinks of changing the world, but no one thinks of changing himself”

Today’s Video:  Who’s planning a wedding? Check out this video.

Free Knowledge : Here is a copy of my latest Newsletter. Follow the market. Sellers fear educated buyers.
 
More Free Knowledge: My Market Experience Tours of homes and condos  are super popular and a terrific way to gain market knowledge. Nothing to sign. Just show up.
 
Raving Fans:  What are my client’s saying?
 
Did you know…..
 
* Here is an interactive web-based guide by the Appraisal Institute of Canada to give consumers a better idea of the return on investment they can expect for a variety of home improvements.
 
* According to a survey done this past October by CAAMP ( Canadian Association of Accredited Mortgage Professionals):
      – In Canada 78% of borrowers have at least 25% equity in their homes
      – Over 80% of borrowers stated they can handle at least a $200 increase in their monthly mortgage payment and 60% stated  they can handle at least a $300 increase.
      – 21% of borrowers switched lenders when their mortgage came up for renewal.
      – The average discount borrowers received on a 5-year fixed mortgage was 1.46% off of the posted rate
 
* The highest price paid for a Canadian condo was in May 2011. A buyer bought the 55th floor penthouse atop the Four Seasons Hotel Private Residences for $28M….to a foreign buyer.
 
* In 2012 , Re/Max expects that real estate values in the GTA will increase 5.0% to $488,000 over 2011.
 
* Sales of GTA homes prices in excess of $1.5m increased approximately 32% over 2010.
 
* Resale condominium apartments and condominium townhouses accounted for 32% of residential MLS sales in 2011.
 
* Home sales in the GTA are expected to be strong, rising to 93,000 units by year-end 2012. This figure is on par with 2007’s peak performance.
 
* Sales of new GTA high-rise condos rose by 22% from 2010 to 28,466. A record year. Combined with 17,460 new low-rise sales a total of 45,926 new houses worth about $22-billion sold in 2011, the second highest year ever. Sales of new high-rise condos for 2012 are predicted to be somewhat closer to the numbers for 2010 at approximately 20,500 units.
 
Please contact me direct at 416-520-6746 or by email, David@TorontoRealEstate.ca

Dovercourt Park is a “Hood on the Rise “

Great article in www.TheGlobeandMail.com

Among Toronto neighbourhoods, Dovercourt Park is something of an unsung hero.

Neither seedy enough to attract rising chefs with cult followings, nor gentrified enough to send real estate values out of sight, it’s long been a stalwart area where immigrants find a community, twentysomethings are able to rent a decent apartment, and first-time buyers can purchase a semi and fix it up.

Click here for more.

There are some fantastic Ethiopian restaurants along “BloorCourt”. Not too fancy but eating with your hands is always fun.

Please contact me direct at 416-520-6746 or by email, David@TorontoRealEstate.ca

Toronto’s Entertainment District is Full of Surprises

The Entertainment District is evolving….quickly . Clubland is disappearing to the delight of neighbouring residents . Trendy condo buildings are appearing along with shops and restaurants , adding to this neighbourhood’s increasing popularity.

Here is a great article in http://life.nationalpost.com

It’s 11 p.m. on a Saturday night and the lineups are starting to build outside the bevy of roped-off nightclubs along Peter, Richmond and Adelaide streets in downtown Toronto. With the theatre crowd safely back home or tucked into the area’s bars and restaurants for a nightcap, the girls are bubbling with excitement as they huddle together in teeny tiny skirts, bare shoulders and mile-high stilettos despite the February chill. Brawny bouncers keep order, ensuring only those on the guest list or those with the gift of gab make it inside.

Click here for more.

Please contact me direct at 416-520-6746 or by email, David@TorontoRealEstate.ca

 

Want a date? Buy a home

I just read an article in http://money.cnn.com and it made me laugh. It’s the same message I’ve been telling my friends for years.

Home ownership is in fact an aphrodisiac!

In a survey of 1000 single people 18% of men said they would rather date a female who owns a home over a renter. Get this, more than 33% of women said they would rather date a male that owned a home .

If you are having trouble on the dating scene, the results are clear.

Click here for more.

Please contact me direct at 416-520-6746 or by email, David@TorontoRealEstate.ca

 

Decisions About Home Renovation Don’t Need to be Tough

I like Brain Baeumler and Mike Holmes. As a home owner and real estate investor their tips and suggestions are very helpful……and bang on.  

Here is a great article by Brian Baeumler is www.YourHome.ca

People are strange.

We know that the way we live is damaging the environment and negatively affecting our health and well-being and yet we continue to produce more and more disposable products that are quick and cheap to manufacture, but need frequent replacement.

Many of us will spend our hard-earned money on replacing these cheap products instead of spending more money up front on quality products that will last longer and operate more efficiently.

Click here for more.
 
Please contact me direct at 416-520-6746 or by email, David@TorontoRealEstate.ca

A Dozen Fees You Should Try to Avoid

Great article in www.MoneyVille.ca

Fees may be a fact of life but that doesn’t mean you have to simply accept them. Fees can easily be overlooked when it’s just a few dollars, but even small fees can really bust your budget.

Here are a few fees that can be avoided:

Click here for more.
 
Pay particular attention to #2. I 100% agree with this and advise my clients to do the same.  

Please contact me direct at 416-520-6746 or by email, David@TorontoRealEstate.ca

Rates on Unsecured Debt Start to Climb

Great article in BorrowBetter:

Canadian banks continue to tighten their lending business, fueled by thin margins and public pressure from regulators and the Minister of Finance. Following on the heels of CIBC’s announcement that their FirstLine arm would be stopping their stated income program, TD Canada Trust and other banks have begun hiking rates on unsecured lines of credit for select customers. Lines of credit secured against home equity remain unchanged.

Click here for more.

Please contact me direct at 416-520-6746 or by email, David@TorontoRealEstate.ca

Why it’s a Good Time to Buy a Home

Great article in www.MoneyVille.ca :

Mark Weisleder is a lawyer, columnist, author and speaker to the real estate industry. You can contact Mark at mark@markweisleder.com

I believe there has never been a better time to buy a home. I’ve been in the industry for 28 years as a lawyer and I haven’t seen so many positive signs for housing, whether you are thinking or buying or locking in a mortgage.

Here’s why:

Click here for more.

Please contact me direct at 416-520-6746 or by email, David@TorontoRealEstate.ca

Purchase Plus Improvement Financing

Great article in BorrowBetter :

With lots of older and out-of-date homes coming up for sale in the spring market, we thought we’d update one of our more popular posts – how to use Purchase Plus Improvement (PPI) financing. PPI mortgages ensure that rundown, “as-is” or beat up homes that are outdated or in need of repair can still offer an excellent opportunity for both first-time and move-up buyers. If you’re already a homeowner, PPI can let you refinance and renovate your home using the future equity value (i.e. post renovations). Purchase Plus Improvements financing can help you buy these homes and get the renovations completed at the lowest cost possible, with just one mortgage.

Click here for more.

Please contact me direct at 416-520-6746 or by email, David@TorontoRealEstate.ca