Hi, my name is Jarrett Hunter and I am a downtown Toronto realtor with Royal LePage.  This is the market information for October 2007 for my area which is downtown Toronto – best defined as the area south of Bloor Street to the lake, west of the Don Valley Parkway and east of Dufferin Street. – I like to refer to it as “the Core.” Toronto Real Estate Board Members reported 7915 sales of single family dwellings in the GTA in October, a 15% increase over October of last year and makes it the biggest selling month of all time in the boards history! The downtown area had a total of 781 active listings with a total sales volume of 535. 407 of these were condominiums.The market still seems to be somewhat hot and the introduction of the new Toronto land transfer tax may push the numbers up to ... 11/05/2007

One of the cost buyers should be aware of when purchasing real estate in Ontario is the Land Transfer Tax.  There are many helpful websites then can calculate the amount for you, but in this blog i'll show you a quick way to figure it out!The following applies for single family dwellings only (or no more than a duplex or not more than two single family residences)If the purchase price is under $55,000 - multiply amount by .005If the purchase price is over $55,000 - Multiply amount by .01 then subtract $275If the purchase price is over $250,000 - Multiply amount by .015 then subtract $1,525If the purchase price is over $400,000 - Multiply amount by .02 then subtract $3,525ExamplesLand Transfer Tax = ($25,000x .005) = $125.00Land Transfer Tax = ($220,000 x .01) minus $275 = $1,925.00Land ... 10/30/2007

Toronto City Council has approved a new land transfer tax to be levied on top of the current provincial land transfer tax. There are now new rates for both residential properties and commercial properties.  For our purposes here, we will only discuss the new rates for residential. To see exactly how this new tax impacts you, please refer to the Land Transfer Tax calculator at http://www.nohomebuyingtax.com/.  The additional CIty of Toronto Land Transfer Tax is calculated as follows:0.5% of the amount of the purchase price up to and including $55,0001% of the amount of the purchase price between $55,000 and $400,0002% of the amount of the purchase price above $400,000This tax will take effect starting on February 1, 2008 but if your agreement is made on or before December 31, 2007 you wi... 10/30/2007

On the heels of Toronto city council's approval for a new municipal land transfer tax, there is (reported) increased activity amongst buyers in terms of (a) showings and (b) moving up closing dates to avoid the additional land transfer tax. (It remains to be seen how this will affect housing prices and sales, e.g., compared to the same period last year.) Exact implementation details of the controversial tax have not been released, but the basics are: Purchases on/before Dec 31, 2007 are exempt from the new LTT, regardless of closing date. Purchases signed after Dec 31, 2007 and closing before Feb 1, 2008 are also exempt. Purchases signed after Dec 31, 2007 and closing on/after Feb 1, 2008 are subject to the new tax. In addition, there will be a first-time home buyers rebate (patterned a... 10/26/2007

Toronto city council voted in favor of two new taxes: a municipal land transfer tax (which loosely mirrors the provincial land transfer tax) and a vehicle registration tax. The particularly controversial and unpopular land transfer tax won key support after compromises were made. Providing an exemption for homes under $400000 purchased before the end of 2007, will bring some relief to some, such as pre-construction condo buyers. That said, it is the Toronto Real Estate Board's position that despite the compromises, the second land transfer tax is unfair -- the LTT continues to target 5% of residents (home buyers) to make up the bulk of the city's budget shortfall. Source: Council passes new taxes (Toronto Star) 10/23/2007

Details of Approved Toronto Land Transfer TaxAs I'm sure everyone has heard by now, the Toronto City Council has approved a municipal land transfer tax that will be levied on top of the provincial land transfer tax.  For the past half year the Toronto Real Estate Board (TREB), along with its real estate members, have worked very hard to oppose this tax.  As a direct result, City Council was forced to make a number of amendments to the City's original proposal, including rebates for first-time buyers, a reduced rate, and grandfathering for existing transactions.The City has not yet provided detailed information on administration or implementation issues. Based on information currently available and with the help of TREB files, i've put together a short FAQ to help bring clarity to this c... 10/23/2007

Welcome to Blog Action Day 2007,  I hope everyone is participating, if you would like to join in, hit the banner above.  This year there is expected to be 15000 blogs involved with around 12 million readers, I think this is pretty cool so do your part. Toronto Ikea Stores Offer Hybrid Parking Ikea is has done there part to encourage people to by hybrid cars.  My wife and I were visiting our local Toronto Ikea store and much to my suprise there were "hybrid car" parking only spots.  Right next to the handicapped and expecting mothers parking.  I do drive a honda which is known for lower emissions, but I just thought wow, this is a good idea,  if more stores offered this kind of parking and if car manufactures got there production to the point where the price would come down a little, I ... 10/15/2007

While only the second-best September on record, the Toronto Real Estate Board is reporting September resales up 4% from the same month last year. With year-to-date sales up 9% and 12% from 2005 and 2006, respectively, 2007 is being forecasted to be a record breaking year. Nonetheless, analysts are pointing to signs of a slowdown in 2008, with housing starts trending down and a declining number of respondents contemplating home improvements in the next 12 months. Sources: Home resales set for a record (The Star) September resale market shows strength (Toronto Real Estate Board) 10/04/2007

The Toronto Real Estate Board is reporting a strong start this Fall with the average price and number of resales in the first half of September besting the same period last year by 9% and 11%, respectively. TREB President Maureen O’Neill is already forecasting September to be a record breaking month. Sources: Autumn Market Going Strong 09/21/2007

In a hot real estate market having multiple offers on a home is not surprising. In fact most buyers expect it. But how do you know that there really is another offer on that house. In Ontario the selling agent must inform every buyer of all registered offers on a property but they cannot disclose the terms of price of the competing offers. The process is not exactly transparent. In fact it is very secretive. Enter the phantom offer. The Phantom Offer is used to increase the real buyers offer price and/or ncrease buyer interest in the property. Buyers are tolsd there are 2 registered offers on a home but in fact there may only be one. The unsuspecting buyer ends up bids against themselves. Without the buyer actually see evidence of the competing offers it is almost impossible to know if ... 09/20/2007

Genworth Financial Canada has just released their condo market outlook for summer of 2007 and outlook for condo real estate in Toronto looks good. Sales of Toronto Condos have been steady with modest price increases and this trend looks like it will continue in the near future. This is partly due to the still relative affordablity of condo units. The number of new condominium starts slowed slightly to 13,300 last year but this is still the second highest since 1990. Condo sales rose 4 percent last year the average condo real estate price has risen 6 percent for the past two years. The Genforth report has predicted that sales of condo reale state in Toronto will ease slightly this year but then increase to 5-7 percent through the rest of their forecast period which is into 2010. This ye... 09/14/2007

Here is my first crack at using Real Estate Shows...I just wanted to have a little bit of fun with it: I actually created this show mid May, but just now had the time to learn how to embed it. Thanks Jeff for the video how to! This is very simple to do and of course, highly recommened to use as a marketing tool for showcasing our staging...and personalities! Let me know what you think! 09/12/2007

The Toronto Real Estate Board posted a new August record, making this the 5th consecutive record breaking month. While prices are down 1% from last month, year-to-date sales are 12% ahead of 2006, and 13% ahead of 2005 (the best year on record). Source: August sets the stage for strong autumn market (TREB) 09/06/2007

There are some great colour combinations. Here's a start on a list of some of those great combinations: Great Color/Colour CombinationsGreen & Pink   Green & Blue Brown & OrangeBrown & PinkBrown & Blue  Grey & BlackGrey & PurpleTan & RedTan & BlackGenerally you will have a 3rd &/or 4th neutrals in there but this is all about the colour!As I find stock photos with the combinations I'll add to the blog. 09/05/2007

Judy Kincaid recently wrote a great post on her blog:  No more Ms. Nice Gal...the kid gloves are coming off! Tina Parkerhad a great suggestion in her comment on Judy's blog. Tina suggested blogs on how to get started as a stager when you have nothing. So I thought I'd get the ball rolling with this blog. As a new stager you have to understand the service you are selling is purely subjective. You are selling your talent. Always keep this in mind and when you are making decisions on how to promote yourself ask the question; 'is this a true representation of my work & talent'. Potential clients will contact you based on the work you display on your website and in your portfolio. They do not ASK if it is your work...why? Because you are showing them your portfolio...why would you misreprese... 09/02/2007

Before I get to the list, I will note that other than being the magazine's Associate Editor, Gillian Grace is not a registered salesperson/broker, and she does not present her qualifications, cite sources, nor quote statistics to support her real estate prognostication. But emblazoned on the cover of this month's "Toronto Life", we see the eye catching title, "WHERE TO BUY NOW" - "THE NEXT HOT NEIGHBOURHOODS*". And let's not forget the reassuring footnote in the corner, "everything you need to know before you buy"! Yes, Toronto Life's Gillian Grace, picks 5 up-and-coming Toronto neighbourhoods, as home buyers seek out bargain alternatives to the higher-priced, "hot" neighbourhods, namely: Beaconsfield Village (the "next" Trinity-Bellwoods) Hillcrest (the "next" Annex) The Junction (the ... 09/01/2007

The Building Industry and Land Development Association (BILD) -- formerly the Greater Toronto Home Builders' Association -- weighed in on the RealNet's information release for July new home sales. Interesting observations and stats: Sales of Low rise vs High rise units nearly even (compared with 65/35 split 5 years ago) 89.6% growth (July 2006 vs July 2007) in GTA high rise sales New home sales up 15% year-to-date (vs same period last year) Sources: New home, high rise close: officials (National Post) Condo sales explode to record summer highs (CTV) 08/24/2007

Hi all!I was away for a week in North Carolina and did not want to leave. It is such a beautiful state and of course most of you know already, I love the U.S. I'd move there in a heartbeat if they'd let me!Well, I bought a new vehicle while in N.C. A new Honda Pilot. I love it! I got back to Canada, and home last Wednesday just in time for my son to have his eye surgery Thursday morning at Sick Children's Hospital in Toronto.Surgery went well, and seeing as it was 'day surgery' we were home early afternoon and in good spirits. All that changed the day after the surgery. My son, "Sticky", woke up with a fever and it went down hill from there. We have been back at Sick Kids since Saturday morning. My wee man had to have a CT Scan which lead to an emergency operation on the same eye at 2:0... 08/22/2007

The statisticians are weighing in with their latest reports, and real estate resales in Toronto and Canada are far from the doom-and-gloom now shaking up the stock market (i.e., a broad market correction). For the first half of August, the Toronto Real Estate Board reports resale transactions are up 17% from the same period in 2006. Meanwhile, days on market (DOM) is down to 32 days (from 38 days). The Canadian Real Estate Association finds a 13.1% increase in the average sale price of a home (in the country's 25 largest markets), year over year. Similarly, year-to-date unit sales are up 10.3% from last year. Sources: Canadian Housing Prices Rise 13% (National Post/Financial Post) August Prepares to Roar into Fall Market (TREB) 08/17/2007

The Toronto Real Estate Board is reporting July 2007 as the best July ever -- well, since records were kept -- and 26% more active than July '06. And year-to-date transactions are up 13% from the same time last year. Notable increases were reported in Toronto's Riverdale, Etobicoke's South Humber, North York, and Richmond Hill. Source: Resale market shows strongest summer performance! (TREB) July: More Records Broken (TREB) 08/04/2007