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Monthly Archives: October 2008

Toronto Councillor Mihevc Opposes Scrapping Land Transfer Tax

The Toronto Real Estate Board (TREB) needs your help. With resale home sales declining, TREB members are asking you to contact City Hall about scrapping the recently added Toronto land transfer tax. But Councillor Joe Mihevc (Ward 21, St. Paul’s) is calling

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Buffet: Be Greedy When Others Are Fearful

Warren Buffet, who many consider to be the world’s most successful investor, commented recently: “A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping

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Home Buyers – What Ottawa Giveth, Ottawa Taketh Away

First, the good news. This past year has seen a squeeze on credit from all sides. Even banks are experiencing rising costs in mortgage funding. In response, the federal government has initiated a program to buy $5 billion in mortgages

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Home Buyers Looking to Sellers for Mortgage Help – Buying a Toronto Home

By now, the financial crisis has touched most players in the real estate market. Even some high-end buyers in Toronto who were scheduled to close home sales have run into an unforeseen glitch. The banks’ lending policies are currently tightening up

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Do You Know What Your Listing Agent is Saying About Your Home?

The statements below in bold text are actual written comments made by listing agents on the published listings on the Toronto MLS. While most are innocent enough, other comments may influence buyers and other agents to take advantage of you, or

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Reflections on an Ever Changing Toronto Housing Market

The Toronto housing market has experienced an amazing change over the past few months. It goes without saying, it’s no longer “business as usual”. But the change isn’t merely a shift from a sellers’ to a buyers’ market. It’s a

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Old Attitudes May Prevent The Sale of Your Home in Today’s Market

Last week, I had a client in from the States. She’s moving back to Toronto, and looking for a home in the million-dollar range. Since she could only be here for the week-end, I phoned six real estate offices to set

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Leaside Market Report and Average Sale Price – October 2008

Leaside sales came down by 33%, but the average sale price climbed by 13%. Surprisingly, the listing price versus the sale price decreased from 104% to 97%, which is a relatively modest decline compared to other Toronto neighbourhoods.  As I

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Lawrence Park Market Report and Average Sale Price – October 2008

  Comparing sales activity from July to September 2007 with the same time period in 2008, we see that home sales in Lawrence Park have remained steady. However, the average sale price has dropped 22%. Be aware that the average sale

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