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Brampton, ON Real Estate News

By Manoj Arora
(Ace Team Realty Inc.)
Greater Toronto REALTORS® reported 2,670 sales in January compared to 5,075 in the first month of 2008. "Demand for existing homes in the Greater Toronto Area moderated as the housing market followed the broader economic slowdown in Canada," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis. The average home price in the Greater Toronto Area was $343,632, compared to $374,449 last January. The median price was $303,000 compared to $319,000 last year. "Current selling prices are a reflection of more choice in the existing home marketplace," said Mercer. "At the same time, low mortgage rates have helped keep ownership housing an affordable option. Given that we are not facing an early-1990s-style affordability crisis, the rebound in the housing market wi...
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By Sham Pathania
(SAVE MAX FIRST CHOICE REAL ESTATE INC.)
Power of sale Properties currently in Brampton 3 bed                    3 bath                       $167,000 4 bed                    2 bath                       $174,000  3 bed                    2 bath                       $209,000 3 Bed                    3 bath                       $215,900 3 bed                    3 bath                       $247,500 3 bed                    3 bath                       $249,900 4 bed                    4 bath                       $259,900 4 bed                    4 bath                       $279,900 4 bed                    4 bath                       $334,900 3 bed                    3 bath                       $373,000 4 bed                    3 bath                       $387,900 4 bed                    4 bath                       $3...
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A recent survey by Lowe's Canada indicates that the most popular renovation project this year will be painting the interior and/or exterior of one's home (41%) The survey also found that despite the current economic climate, Canadians are still willing to invest in their homes - with "47 per cent of Canadians planning to renovate in the next twelve months".   Also "12 per cent of Canadians are undertaking home renovations to add value to their homes for resale purposes" and "11 per cent of Canadians are undertaking home renovations this year as a way to improve energy efficiency within the home". Other top projects will be: Renovating the bathroom (32%)Renovating the kitchen (28%)Installing new carpet or hardwood floors (26%)Installing new windows (21%)Building an addition, deck, fence ...
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By Sham Pathania
(SAVE MAX FIRST CHOICE REAL ESTATE INC.)
The Government of Canada's proposed Economic Action plan contains new tax measures that may benefit you. If you are a homeowner, or are planning to become a homeowner, the Action Plan can help. Support for home renovations. For a limited time, the new Home Renovation Tax Credit (HRTC) means homeowners could receive up to $1350 in tax relief on renovation expenses. Support for first-time home buyers An increase to $25000 in the amount you can withdraw from your RRSP under the Home Buyers' Plan to purchase or build first home. A First-Time Home Buyers' Tax Credit that allows you to save up to $750 on the closing costs of a first home. For more information and updates visit:  www.actionplan.gc.ca   My website; www.greatgtahomes.com If you are thinking of buying or selling a property, conac...
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By Sandi Gerrard
Tinted Neutrals and Blackened Colors It is the depth of the neutral that gives it life and longevity.  Some good examples of current "beiges" from the Benjamin Moore series are: Willow (CC-542) Hillsborough (CC-330) Stampede (CC-540) Chocolate Fondue (CC-482) And in the "grey" range we have: Metropolis (CC-546) Asphalt (CC-548) This year it's all about Shine * Shimmer * Metallic finishes.  The metallic finishes are warm gold tones.  And wallpaper is back.  If you are unsure or unconvinced, try it in a small room or under utilized area such as a powder room or dining room.  Plaid is also making a comeback but the color combinations are much different. Yellow and Purple are the #1 colors this year.  For the best results when choosing purple, use: Camelot (CC-4) Muskoka Dusk (CC-6) Orange ...
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By Sandi Gerrard
Consumers should be cautious of products that claim to be GREEN but are actually not.  The colour of the packaging is often very misleading.  Some products simply haven't been around long enough to test the long term effects of them in the environment or in the body.  This very informative article by Holly O'Dell (for Sherwin-Williams) is a real eye-opener. http://www.swstir.com/use.do?method=article&id=761 They call it "greenwashing" and include a link to a site where you can report such misleading products - http://www.greenwashingindex.com/    
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The land is cleared, the hole is dug and the builders throw the bricks and drywall together.  Where trees once swayed in the breeze, now suddenly stands a HOUSE.  The people come, some like what they see and buy the HOUSE.  On moving day the trucks arrive, the boxes pile high, the furniture goes in and the HOUSE is then full.  The lights go on, the meals are cooked and the family comes and goes.  They tell their friends "we bought a HOUSE" ... "come see our new HOUSE" ... "visit our HOUSE" ! The years go by, time passes and the family grows.  They plant some trees that now sway in the breeze.  But now the HOUSE needs some help ... it's no longer shiny and new.  Repairs, upgrades and paint, more furniture and lots more stuff !  Time marches on again, the kids are grown, they leave the ne...
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By Sham Pathania
(SAVE MAX FIRST CHOICE REAL ESTATE INC.)
Only few of us tend to call FSBO's !! Its a good area to explore and there good scope. However, it is not that easy to convince FSBO's in first meeting.  We know the main aim of FSBO's is just to save money by not giving the commission for our services and still they want to sell the house at best of the market. This can never happen. The buyers are also educated and are aware of all aspects. So where do we do. Its just keep hitting again and again and expain the marketing aspects to the FSBO's. If  they are serious and want to sell, they will definitely listen. Thats what we want. Its belived we must try to call atleast 6 times before we put our foot down. And that should be our aim.    
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By Sandi Gerrard
The following two items were found on the HGTV.ca website.  Once again, they are a great source of information and fun tools for homeowners and home stagers alike. Buying a Home?   Take this QUIZ to see if you have good house-hunting etiquette.   Selling your Home?   Take this QUIZ to see if you are a buyer's nightmare !
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By Manoj Arora
(Ace Team Realty Inc.)
OTTAWA - The Bank of Canada has chopped its key interest rate by another half percentage point to its lowest level ever, and warned that the Canadian economy will contract by 1.2 per cent this year. The central bank's target for the overnight lending rate now stands at 1 per cent - lower than in 1958, when the most-watched policy rate was 1.12 per cent. "The outlook for the global economy has deteriorated since the bank's December interest rate announcement, with the intensifying financial crisis spilling over into real economic activity," the bank said in its gloomiest statement yet. In separate announcements, Toronto-Dominion Bank and Bank of Montreal responded by announcing they have cut their prime lending rates by 50 basis points to 3 per cent. BMO said it is cutting key mortgage r...
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By Manoj Arora
(Ace Team Realty Inc.)
Toronto Real Estate Board Members reported 2,577 sales in December 2008, compared to the 4,646 recorded during the same month in 2007, and the 4,447 recorded in December 2006, TREB President Maureen O'Neill announced today. "Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 recorded during 2006." The average price in December of 2008 came in at $361,415, compared to $394,931 in 2007, and $336,217 in December of 2006. For 2008 as a whole, prices averaged $379,347, compared to the $376,236 recorded in 2007, and the $351,941 average recorded in 2006. The City of Toronto (416) recorded 1,105 sales in December, compared to 2,302 in December 2007  and 1,827 in December of 2006. For all of 2008, there were 29,878 sales, compared to 39,052 in 2007 ...
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By Manoj Arora
(Ace Team Realty Inc.)
No parallels with U.S. Eric Beauchesne, Canwest News Service  Published: Monday, January 05, 2009 Brett Gundlock/National PostSold signs on house in Toronto. OTTAWA - The Canadian housing market is cooling but is not facing a U.S. style meltdown, builders here say. "A few commentators have drawn a parallel between the Canadian housing situation and the extreme difficulties in the housing market in the United States," the Canadian Homebuilders say in a report Monday that dismisses such comparisons. "There is absolutely no merit in drawing such a parallel," it said in a report that contends the pace of housing construction in Canada is merely returning to a level that is consistent with underlying housing requirements following the boom of recent years. "The housing situation in Canada is...
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Has the cold weather got you stuck indoors? Tired of looking at those four walls. Is your room stuck in a rut?Treat yourself to a room makeover - in an hour or in a day. Got an hour to kill? Remove all accessories from your mantel, bookcase or table tops. Group similar items together - candles, books, plants. Try arranging them differently. Look for similar items in other rooms and create interesting vignettes with items that work well together. Are your accent cushions patterned on one side only? Try the solid colour instead. Change your lampshades. The possibilities are endless. And remember - when it comes to accessorizing, LESS is MORE. It's good to declutter a bit.Got a whole day to spare? Remove everything from the room except your largest pieces of furniture. Yes EVERYTHING - inc...
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By Sham Pathania
(SAVE MAX FIRST CHOICE REAL ESTATE INC.)
 VENTURE OUT ONLY IF REQUIRED AND DRIVE SAFE. MAJOR WINTER STORM ENDING THIS EVENING. THIS IS A WARNING THAT DANGEROUS WINTER WEATHER CONDITIONS ARE IMMINENT OR OCCURRING IN TORONTO AREA. SNOW AND BLOWING SNOW IS NOW AFFECTING ALL OF THE AREAS UNDER THE WINTER STORM WARNING.  LOCALES UNDER THE BLOWING SNOW WARNING CAN EXPECT LOCAL WHITEOUT CONDITIONS IN SNOW AND BLOWING SNOW LATE THIS AFTERNOON INTO EARLY EVENING BUT WITH SNOWFALL AMOUNTS WELL BELOW WINTER STORM WARNING CRITERIA. CONDITIONS WILL IMPROVE IN ALL AREAS THIS EVENING.  
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By Manoj Arora
(Ace Team Realty Inc.)
`Half-hearted' response may stymie effort to aid economy, critics charge The Bank of Canada slashed its key interest rate yesterday by three-quarters of a percentage point to the lowest level in half a century and confirmed Canada's economy is "entering a recession" because of the deepening global economic slump. But chartered banks refused to match the deeper-than-expected cut, dropping their prime rates by only half a percentage point, the second time in the past few months some have balked at passing on the full savings to consumers and businesses. Canada's benchmark overnight rate now stands at 1.5 per cent, the lowest since 1958, as the Bank of Canada tries to revive the flagging economy and restore confidence by making it cheaper to borrow money. The rate reduction was the single-...
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TORONTO, December 04, 2008 -- Greater Toronto REALTORS® recorded 3,640 transactions last month, from 7,313 sales in November 2007, Toronto Real Estate Board President Maureen O'Neill announced today. Year-to-date sales figures for the Greater Toronto Area show 72,086 transactions in 2008, from 88,695 sales recorded in the same January to November period a year ago. By contrast, the 2008 year-to-date average price in the GTA is $379,489, from $375,445 in 2007. "Its important for the public to understand that while sales activity has moderated in 2008, due to current economic conditions, the average price of homes has increased from 2006 still making real estate a solid long term investment," said O'Neill. In the 416 area, 1,523 transactions took place last month, from 3,426 sales recorde...
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Recovery linked to economic stability next year Global economic uncertainty weighed heavily on residential real estate activity in most major Canadian centres during the latter half of 2008.  Although the forecast for 2009 promises more of the same, most markets are expected to weather the storm, says RE/MAX.  Housing market performance will clearly be contingent on economic performance at a local, provincial, and national level in 2009.  Issues affecting the overall economy are impacting housing markets across the country and the situation is not expected to be remedied until consumer confidence is restored.   If inventory levels remain stable, pent-up demand kicks into gear, and lower interest rates stimulate home-buying activity, we could see a bounce back as early as spring. The RE/...
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By Sandi Gerrard
A few helpful reminders when showing your home in the winter season. ensure that outside steps and walkways are always clear of snow & ice ensure that your exterior lighting is adequate ensure that your home is a comfortable temperature - but not TOO warm as potential buyers will be wearing coats keep it smelling fresh - open some windows for a short time each day light a crackling fire or turn on the gas fireplace for a homey feel  keep seasonal decor to a minimum so as not to distract buyers
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By Peter Bhandari
(Re/max Gold Realty Inc., Brokerage)
CBC NewsFewer homes were listed for sale on the Canadian Real Estate Association’s multiple listing service in the third quarter, as the market cooled in Alberta and British Columbia, according to figures released Thursday.Third-quarter MLS listings fell to 230,107 on a seasonally adjusted basis, a 3.1% decline from the record-setting level in the previous quarter.The value of MLS sales in the same period was $34 billion — a drop of 5.4% from second quarter.Calvin Lindberg, CREA president, noted the easing Canadian market differs from the U.S.“U.S. prices were driven up by speculative investment and relaxed lending standards. Canadian resale housing prices climbed due to strong job growth and low interest rates, especially in Alberta and B.C.,” Lindberg said in a statement.“We did not h...
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By Peter Bhandari
(Re/max Gold Realty Inc., Brokerage)
Several pricey markets drag averages down in September The Canadian Real Estate Association says the falling average sale price nationally is a reflection of a decline in sales in the highest-priced markets, noting that prices are still rising in a majority of markets. The Ottawa-based group, which represents more than 100 boards across the country, said the average sale price of an existing home, sold through the MLS system, fell 5.4 per cent in September to $289,916 from $306,347 a year earlier. But it said prices are actually up in 65 per cent of the boards it represents. "The recent price declines in the Canadian housing market reflect lower activity in some of Canada's priciest housing markets that had posted large price increases. Price declines in the U.S. reflect a massive overs...
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