Manoj Arora's (aceteamrealty) Blog

The provincial government has announced some proposed changes to the way it would apply the proposed Harmonized Sales Tax (HST) to the purchase price of newly constructed housing. The provincial government has also announced proposed transitional details for newly constructed properties.Backgroun...

TORONTO, July 6, 2009 - - In June 2009, Greater Toronto REALTORS® reported a record 10,955 sales, up 27 per cent from June 2008. The seasonally adjusted annual rate of sales in June was 100,700.(1) "The record result in June is testament to the fundamentally sound housing market in the GTA," said...

In the first four months of 2009, TREB members reported 3,945 leased condominium apartments, representing a 38% increase over the 2,854 units leased during the same period in 2008. Almost 93 per cent of all residential rental transactions on the MLS® involved condominium apartments. Read the Comp...

Greater Toronto REALTORS® reported 5,185 transactions in the first half of June - an increase of 19 per cent compared to the same period last year. "Households in the GTA have become more confident in purchasing a home over the past three months," said TREB President Maureen O'Neill. "Affordabili...

Greater Toronto REALTORS® reported 4,561 transactions in the first half of May - an increase of three per cent compared to May 2008. "Members reported a rise in buying activity this month," said TREB President Maureen O'Neill. "Many home buyers who were undecided about purchasing a home during th...

In March 2009, Greater Toronto REALTORS® reported 6,171 sales - down seven per cent from March 2008, representing the smallest year-over-year decline in the last five months. The average price for March transactions was $362,052 - down less than five per cent from the same month last year. "The G...

Home Renovation Tax Credit The proposed Home Renovation Tax Credit (HRTC) will provide a temporary 15 per cent income tax credit on eligible home renovation expenditures for work performed, or goods acquired, after January 27, 2009 and before February 1, 2010. The credit may be claimed for the 20...

TORONTO, March 5, 2009 - Toronto Real Estate Board Members reported 4,120 sales in February 2009 compared to 6,015 sales recorded in February 2008. The average home price was $361,305 last month compared to $382,048 during the same month last year. "A considerable number of transactions continued...

March 3, 2009 - The Bank of Canada announced this morning that it is cutting interest rates by 0.50%. This take the target for the overnight rate to just 0.50% This takes the total easing to 4.00% since December 2007. The bank said in it's release that the global economic outlook has worsened sin...

Between September 1, 2008 and December 31, 2008, Toronto Real Estate Board (TREB) Members reported 3,433 rented condominium apartments and townhouses in the Greater Toronto Area. This represented a 30 per cent increase over the 2,635 transactions recorded during the same time frame in 2007. A goo...