I just read a great article from my Broker/Owner of RE/MAX Hallmark Realty, that sums up our current market perfectly.   "BUY when most are selling and SELL  when most are buying. Simple words to live our financial lives by. In spite of being familiar with these words, many people get caught up in the frenzy of a group with their actions.  Years ago I recall my first experience with group dynamics when buying a commodity. In this memory, it was GOLD. In the early 80's I remember seeing people lining up on Bloor Street in downtown Toronto to purchase GOLD. As I recall - the price of GOLD was going through the roof and the masses (hyped up by the press and others) were anxious to get in on the action before the price got too high. Sensing a great financial opportunity to make some money b... 12/24/2008

When I bought my 82-year-old father a computer, I never imagined the repercussions that act would have on our whole family. My father was no longer as physically active and I knew of other retirees that were keeping contact with ex-business friends on the Internet. Every member of our immediate family was online and in a total role reversal...the son bought the father a computer. Dad had no computer experience whatsoever but my agreement with him was that within one week of set-up he would send me an email. That deed accomplished, I was amazed when the next week, he forwarded me a copy of an email that he'd sent to B'nai Brith Canada in search of the email address of the B'nai Brith in Uruguay. The body of the Uruguayan email held the answer: my grandfather, Harry. 80 years ago, after t... 12/24/2008

House Price Predictions for 2009Why is the mood so pessimistic?Blame it on a succession of downbeat surveys highlighting the extent of the market's slowdown. Buyers' confidence is subsiding under pressure from more expensive borrowing, although prices are still on a par with last year and in some neighbourhoods actually higher than a year ago. Toronto Real Estate Board data showed Toronto prices falling by 3.0 per cent in October, further in November, although there was an overall decline in Canada of almost 10.0 per cent.This is all very sudden isn't it?No one should be surprised that the market's previous giddy growth is stalling. This was widely forecast last Christmas as the inevitable consequence of the strain imposed on household budgets by higher interest rates, particularly for ... 12/19/2008

If the cup of coffee you were drinking on Tuesday morning didn't wake you up, the headline on the front page of the Globe and Mail most surely did. The headlines screamed "Housing sales hit 20-year low as real estate slump widens" followed by huge sub-head noting an 11 per cent decline in prices and a 44 per cent drop in Ontario housing sales in large RED print, based on the December 15th press release issued by the Canadian Real Estate Association. The only problem with the article is that it is incorrect. In the third paragraph, the author writes "Between May and November, the average price of an existing home in Canada fell by 11 per cent, matching the drop in 1990 that coincided with the onset of a painful recession. Housing prices would go on to fall about 20 per cent and it would ... 12/18/2008

I see great opportunity in today's market for buyers and sellers (looking to trade-up). I think that the negativity presented by the media is clouding the judgment of buyers, investors, and sellers moving-up to better properties. It is true that sellers were getting a greater return in 2007, but at the same time, were paying more on the buyer's side. Due to super low mortgage rates (lowest in recent history), buyers and sellers (looking to trade-up to a better property) are experiencing the best market in over 10 years. Investors and buyers dream of the current market conditions, so why all of the negativity? Take advantage of the current market, as it might not be this way until 2019! For more market information go to my Resource Centre at www.TheCondoLife.com.    12/15/2008

Everyone will talk about the Real Estate Market in Toronto over the seasonal festivities that we enjoy at this time of the year.Will the Market go up? Will the market collapse? Buyers who were priced out of the market and have been waiting on the sidelines have said "I'll Buy when.... the prices are cheaper? Interest Rate Shoppers will come out when.... the Rates come down. Here are my thoughts; Housing is based on confidence. Confidence in your job, your home life and your financial security. Where and What you will buy is based on your family need. Interest Rates starting in 2009 will be the lowest they have been in the last 50 years. Check for current rates. The number of people gainfully employed currently stands at 93%. Shoppers at Sherway Gardens are crowding the Mall but shoulder... 12/13/2008

December is the slowest month for sales in the Real Estate market...and that is a good thing. Find out why....!10 Reasons for Selling During the Christmas Holidays by Roland Lewis Most December and early January buyers are particularly serious and very likely facing some sort of deadline. January is the biggest transfer month of the year and job transferee's use the holidays to house hunt. Many people want to buy before the end of the year for financial and tax reasons. Investors usually want to close by year-end for tax purposes. Most sellers wait until spring or summer to list their home. This means that during the winter months your property will have far less competition versus any other time of the year. Homes show well when decorated for the holidays creating a sense of family and... 12/07/2008

Is your Tenant behind in their payments?Have you talked to them many times to no avail?What do you do?Too often when I am consulted the tenant is already 60 to 90 days in arrears, and the situation has become hostile. If you were a management company, with an apartment building, you would indeed leave a fews days grace, but you would immediately serve the Tenant with a Form N4 - Notice to End a Tenancy Early for Non-payment of Rent.Complete the details correctly, Make sure that you have included all items. Serve this (give or deliver) in person, to an adult at the residence, leave in the mailbox, slip under the door, send by Post Courier or Fax.Once done, Complete a Certificate of Service.Since you have established the Termination Date of the rental and left suitable Notice period based... 12/06/2008

Is your mortgage payment combined with you lifestyle bills restricting your choices? Have your property taxes jumped higer this year? Do you need money for simple things like hockey or piano lessons for your kids? There may be alternatives for you to re examine how to reduce you total debt repayment thru different lender's programs.   Manulife Financial is working very strongly with their Manulife One Program. All you household expenses into one account, secured against the property, to reduce the overall borrowing costs and eliminate debt faster. Track reductions monthly, in your statements and see tangible results instantly. Royal Bank is offering a $300 rebate to its clients with a mortgage for energy self sufficiency. Reduce your Energy Costs by making your home ( their security) a ... 12/06/2008

This is an article from Globe and Mail website by Madelaine Drohan. This is a great read and very positive!!! Madelaine Drohan has covered business and politics in Canada, Europe and Africa in the last 30 years. Twelve of those years were spent at The Globe and Mail, first as a business reporter, then European correspondent and finally economics columnist. She is currently the Ottawa correspondent for The Economist and also writes for the Economist Intelligence Unit. Crisis? What crisis? MADELAINE DROHAN Globe and Mail Update December 4, 2008 at 12:32 PM EST OTTAWA - Canada may be in a political crisis, but it is not in an economic one. Why do so many people prefer to believe that we are? In the rancorous debate in the House of Commons last Tuesday, the words "economic crisis" were utte... 12/05/2008

Over 3,600 Sales In NovemberDecember 4, 2008 -- TREB Members recorded 3,640 sales in November 2008 from the 7,313 sales recorded during the same period last year in the GTA, TREB President Maureen O'Neill announced today.The average GTA price in November 2008 was $368,582. During the same period last year, the TorontoMLS system recorded an average of $393,747, and in November of 2006 overall GTA prices averaged $355,727.The 2008 year-to-date sales for the GTA was recorded at 72,086 from last year's 88,695. The year-to-date GTA average price was $379,489 from last year's $375,445Within the 416 area (City of Toronto) there were 1,523 sales during November 2008. During the same month last year, 3,426 sales were recorded. The average price in the 416 area was $390,225 compared to $433,859 i... 12/04/2008

Toronto Homes and Etobicoke Condos If the costs and adjustments on your closing are unexpected and have left you short of funds, here is a solution for you.CLOSING COSTS: UP TO $10,000 INTEREST FREE FOR 6 MONTHSSometimes buyers require cash assistance when buying a home due to unexpected closing costs which can delay or possibly prevent a deal from closing. Up to $10,000 is available interest free for six months to cover expenses on closing a purchase such as government land transfer taxes, closing adjustments, registration costs, legal fees and legal disbursements.Program Details http://www.eleganthomesinwesttoronto.com/ShowResources.cfm?TypeOfPage=3&Page=&Pageid=50367The administration cost for any amount up to $5,000.00 interest free for six months is $249.00 (and such cost can be in... 12/03/2008

If you have purchased in the last few years, you may be looking with a little dismay at the current real estate market. Canada Mortgage and Housing has issued an economic summary for the Greater Toronto Area (GTA) that is not reflective of the Media Headlines that have the sky falling. look at the facts for yourself, then decide what you are going to do. Download Complete CMHC report Re/Max has recently followed with its own forecast for the Canadian Real Estate Market Download Re/Max Housing Forecast 2009  I still believe that although we seem to be in a Buyers' Strike,  in addition to being in a Buyers Market, the sales of homes is being watched very carefully by informed and savvy Purchasers that are waiting for the right deals to come along. We were recently involved in an estate sa... 12/03/2008

The Roncesvalles Village street reconstruction is going ahead starting in August '09While attending the Roncesvalles MacDonell Residents' Association meeting last night, at Fern Public School, the audience was presented with an articulate powerpoint slide show about the reconstruction plans for the main street, Queen to Dundas, that will improve the streetcar tracks, address watermain issues and at the same time with input from the local BIA and residents association deal with beautification.This is a constantly improving neighbourhood with a strong voice in municipal planning. Issues on the table are the widening of sidewalks to make space for cafe style merchants, pedestrian bump outs ( sidewalks that encroach the roadway) and the greening of the street with new plantings of trees on ... 11/26/2008

Downtown Toronto Condos Statistics: C08 October 2008 Yesterday we took a look at C01 Stats, today we look at C08. I know there has been a lot of negative publicity lately about what is going on in the market. Keep in mind that 2007 was a record year for Toronto Real Estate in term of sales and selling price. Also keep in mind that 2006 was the previous record year for sales and selling price. Also last year saw a lot of sales at the end of the year because of the then incoming Toronto land transfer tax. When you start thinking about these things the Condo Market in C08 wasn't so bad. The Average days on market are up, the units sold and average selling price are down a little. Average Days on Market Octobers Average days on market was 21.11, an increase of 8.25% over 2007. This is down ... 11/25/2008

Downtown Toronto Condos Statistics: C01 October 2008 With all the doom and gloom being reported in the media, you would think that prices would be dropping everywhere. Lets take a look at Toronto Real Estate Board's districts C01. We are only looking at Condos and include all units sold during the month of October. There was a drop in units sold, and increase in days on market and an increase in the average selling price. Even though condo prices increased a little, buyers are now getting more time to make there decision. Condo Units Sold There were 154 units sold in October, down from 297 units sold in 2007 and 242 units sold in 2006. Average Days on Market The Average days on market in October was 32.24. This is up 49.76% over last Octobers and 11.09% over 2006. Condo Average Selling ... 11/22/2008

I'm part of a network of Condo Experts, North America wide. If you are interested in what other experts have to say about condo life, and its benefits, across Canada and the U.S., check out www.condobenefits.com. For Toronto condo news, listings and other valuable information go to my site www.TheCondoLife.com.     11/22/2008

Toronto Real Estate Board stats for October created some heated dialogue in the industry in recent weeks. While many believe that the dismal statistics reflect the recent volatility in financial markets, some are now asking if they also identify an emerging trend in the Greater Toronto Area. The simple answer is no. Although there are some serious negative factors influencing the marketplace, one month does not make a market. We need several consecutive months of momentum - one way or another - before we can really determine the direction of the market. Make no mistake. 2008 has presented our industry with challenges across the board. Unit sales are down 16 per cent from one year ago, hovering at approximately 70,000, while average price at $380,654 is up marginally over year-to-date fi... 11/19/2008

Being a homeowner is a huge undertaking. As a homeowner, you're responsible for mortgage payments, property taxes, maintenance on the home, and the exterior upkeep as well. They're all major responsibilities but the one responsibility that's the most important, and that will affect your ability to handle the responsibilities listed above, is selecting an affordable mortgage loan; the key to that is know what your financing options are and how to use those options to your advantage. Three steps is all it takes. The first step in using your financing options to your advantage is to shop around for up to three mortgage lenders-whether they're brokerage firms or bank-direct lenders-to foster the financing of your mortgage. Find firms / mortgage consultants that are patient, willing to answe... 11/18/2008

Downtown Toronto Condos For Sale: Current Inventory November 18,2008, Yonge St, Queens Quay. This is a current inventory of Downtown Toronto Condos for sale in the Yonge and Queens Quay Area as of November 18, This inventory includes Yonge St. and Queens Quay W. Many of the units available have waterfront views. To receive a free list of Available units for sale including PHOTOS and PRICING, Fill in the form below. 10 Yonge St., 2 Units Available 2 - 1 bedroom plus den with 1 washroom 12 Yonge St., 13 Units Available 2 - 1 bedroom plus den with 1 washroom 3 - 2 bedroom plus 2 washrooms 7 - 2 bedroom plus den and 2 washrooms 1 - 3 bedroom with 2 washrooms 16 Yonge St., 18 Units Available 5 - 1 bedroom with 1 washroom 6 - 1 bedroom plus den with 2 washroom 5 - 2 bedroom plus den and 2 was... 11/18/2008