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Jade Waterfront Condos – Pre-Construction Opportunity- Book your Unit HERE

2011-10-16T11:33:00.001-04:00

Jade Waterfront Condos
MORE INFO ON SPECIAL BLOG
CLICK HERE

http://jadewaterfrontcondos.wordpress.com/

Sleek! Modern! Urban! Jade Waterfront Condos! : Welcome to Toronto’s new edge of cool waterfront living.

October 15, 2011 by gtarealtyagent | Edit

Jade Waterfront Condos, a development over 4 years in the making is about to make its debut.

I haven’t been so excited about a new condo project in a while. I will have Platinum Access to sales before 99% of Toronto agents and months before the doors are opened to the public. My clients who have purchased at Jade Condominiums at Bayview and Sheppard have made between $40,000 and $110,000 in less than 1 year. In most cases, that has been 100% ROI.

Jade Waterfront Condos, Toronto’s dazzling new jewel of lakeside living. With its dynamic architecture, resort inspired amenities and stunning views, Jade represents the new edge of cool waterfront living.

As a priority registrant for Jade Waterfront Condominiums, you’ll get first choice of suites, views, floor plans and purchase opportunity, ahead of the general public! This guaranteed Platinum Access will allow you to make the most return on your investment.

Sign up below for VIP Access to Jade Waterfront Condos and receive lower prices, higher incentives and first opportunity to buy the best units.

In 2007 the owners at 2175 Lakeshore Boulevard West submitted a proposal to the city of Toronto to build a new condominium tower. After careful planning and a powerful developer taking the reigns, ‘Jade Waterfront Condos’ is almost ready to launch.

Phantom Developments purchased the site last month and plans to build a 34 storey residential tower with a park and three storey commercial tower to the north. A two storey podium will connect the commercial tower to the residential tower to the south.

The residential tower designed by Quadrangle Architects will feature 289 one and two bedroom suites. Interestingly, there is no studio or 3 bedroom floor plans expected to be released. Thomas Pearce Interiors has been hired to design the interiors.

The area is called Humber Bay and has been very popular for new condo developments over the last five to ten years. Camrost-Felcorp (Sunset Condos at Mystic Point and iLoft at Mystic Pointe), Empire Condominiums (Eau Du Soleil), as well as Monarch’s Developments (Nautilus at Waterview, Waterscapes The Condominium and Lago Condos) have attracted developers and buyers to this location because of the close proximity to the downtown core and the numerous amenities offered.

Register here to receive Floor Plans, Prices and Special Discounts for Jade Waterfront Condos!

Posted in Uncategorized | Leave a Comment »

Posted via email from Toronto (GTA) New Home and Condo Informations

The Station Condos – One day only, don’t miss out - UP TO $30,000 OFF AND ONLY 10% DOWN UNTIL OCCUPANCY*

2011-09-22T16:36:00.001-04:00

Normal 0 false false false EN-CA X-NONE X-NONE MicrosoftInternetExplorer4

The Station Condos – One day only, don’t miss out

ONE DAY ONLY!
UP TO $30,000 OFF AND ONLY 10% DOWN UNTIL OCCUPANCY* ON SELECTED SUITES THIS SATURDAY, SEPTEMBER 24TH ONLY...Book before to get benefits
FIRST COME. FIRST CHOICE. DON’T MISS OUT.

The Station Condos offers the best value anywhere and now, for one day only, it’s even better. The Station is over 70% sold and construction will soon start at this amazing North York location directly on the subway. Choose from two or three bedrooms, with generous den, expansive living area and spacious balcony. You get Terrance Lukas-designed interiors, with oversize showers, windowed ensuites, stainless steel appliances and eco-friendly laminate flooring throughout. Plus, enjoy the red carpet treatment in all the fabulous amenities like The Studio Club fitness centre and Urbanas™, the city’s first indoor/outdoor party rooms, complete with heated barbeque terrace. The best condo value in town is now even better. Visit our Presentation Theatre and Model Suite during our amazing One Day Inventory Sale.

BE THE FIRST TO GET A SNEAK PREVIEW OF THE SPECTACULAR GARDEN SIZE TERRACES IN OUR EXCLUSIVE PENTHOUSE COLLECTION. IT’S LIKE HAVING AN OUTDOOR LIVING ROOM IN THE SKY. FABULOUS.

2 BEDROOM SUITES START AT $359,900
3 BEDROOM SUITES START AT $449,900

Contact Sales Rep. 647.267.6338 | vgandhi@remax.net

*See Sales Representative for more details.

Prices and specifications subject to change without notice. E. & O. E..

Book here

http://condosupermarket.com/the-station-condos.php

the_station_condos_features.pdf Download this file

Posted via email from Toronto (GTA) New Home and Condo Informations

Essential Condominiums in Markham Ontario,Essential Condominiums,Condominiums in Markham

2011-09-21T23:19:00.001-04:00

Essential Condominiums in Markham Ontario,Essential Condominiums,Condominiums in Markham,emery Condominiums,hwy 404 and 407,markham go train, viva services

ESSENTIALLY WHERE YOU WANT TO BE
The Essential Condominium is tucked away in the heart of charming Williamstown, a delightful and established neighbourhood of Single Family homes also built by Emery. You’ll appreciate being able to stroll to lovely nearby parks, having top rated schools all within walking distance, and living just steps from Williamstown Mall for all of your daily essentials including supermarkets, banks, a pharmacy and restaurants. As well, Angus Glen, Meadowbrook Golf and Country Club and Mandarin Golf
Club are all just a swing away.

Nearby services also include the Markham GO Train, VIVA bus service and close proximity to Hwy’s 404 and 407. Welcome home to where everything is essentially on your doorstep.

Take Advantage Of Our Broker Preview

Book with Us Prior to Our Public Opening OCT 1st and 2nd 2011

To date the initial Broker Response has been overwhelming! This is your final opportunity to introduce our clients to all the benefits of Essential living at special introductory prices.

VIP Booking form follows

Posted via email from Toronto (GTA) New Home and Condo Informations

flaire condos | shops at donmills | do it with flaire | say it with flaire | cadillac fairview | fram building group | toronto's finest | flaire register now

2011-09-21T19:41:00.001-04:00

flaire condos | sh

Posted via email from Toronto(GTA) New Home and Condo Informations

westwood condos | condo in etobicoke | coming soon to Etobicoke | Alterra Homes |Finer Space Developments

2011-09-21T19:22:00.001-04:00

westwood condos | condo in etobicoke | coming soon to Etobicoke | Alterra Homes |Finer Space Developments

PRICE_LIST_sep_19,2011.pdf Download this file

http://www.vijaygandhi.com/westwood%20condos

Click Here to Register Here to Chance to get your choice of
suite at before the opening to public

VIP Booking form follows

Price list / floor plan Available when registered with us

Posted via email from Toronto(GTA) New Home and Condo Informations

Untitled

2011-09-16T18:18:00.001-04:00

See the full gallery on Posterous

purchase incentive program only available for following

Join us at DNA3 with you Investment Inside on Tuesday Sept 20th at 6pm sharp for a ONE DAY PENTHOUSE SALES EVENT before the public opening.

Get in on the cash bonus! RSVP Today! and register/ buy thru us.

SVP >> HERE by Registering your Interest to Buy

Call us or visit us for preview package

DOWNLOAD : TOWER A PLANS
DOWNLOAD : TOWER B PLANS

Full project detail below!

DOWNLOAD OUR "DNA3 SNEAK PREVIEW PACKAGE" AND RECEIVE SPECIAL OFFERS FROM OUR SPONSORS!!!

(Register today for details...)

TO REGISTER FOR DNA 3 CONDOS AND RECEIVE OUR DNA3 SNEAK PREVIEW PACKAGE, FILL OUT THE FOLLOWING FORM:

The Privacy Code of The Canadian Real Estate Association

(I am a / We are) member(s) of The Canadian Real Estate Association (CREA) and adhere to and abide by the principles set out in the CREA Privacy Code. All employees and sales representatives associated with ( my / our office) sign an acknowledgement that they will comply with the requirements of the Code

Posted via email from Toronto(GTA) New Home and Condo Informations

Avanti Condominiums is UNDER CONSTRUCTION…. still available….Book here

2011-09-14T23:01:00.001-04:00

Livlofts /Condominiums is Available & NOW is the time to get BEST PRICES!

NOW IS THE TIME TO BUY!!!

Avanti Condominiums is
UNDER CONSTRUCTION….

NOW is the time to get BEST PRICES!

A variety of suites are still available:
875 sq.ft. 2 Bed with Balcony from $354,900!

PLUS Condo Fees of only 35¢ PSF!

NORTH YORK’S BEST CONDO VALUE!

Plus granite kitchen counter top, hardwood flooring,
stainless steel appliances and much more!
Book Here (Registration)

features:
http://www.torbel.ca/avanti/features.html

Location:
http://www.torbel.ca/avanti/amenities.html
Register for Price list and Best Price Available condos in the following form and get benefited
click here Book Here (Registration)

http://www.vijaygandhi.com/the%20avanti%20condominium

Posted via email from Toronto(GTA) New Home and Condo Informations

Livlofts /Condominiums is Available & NOW is the time to get BEST PRICES!

2011-09-14T22:58:00.001-04:00

Livlofts /Condominiums is Available & NOW is the time to get BEST PRICES!

NOW IS THE TIME TO BUY!!!

Livlofts /Condominiums is

NOW is the time to get BEST PRICES!

A variety of suites are still available:

Donmill’S BEST CONDO VALUE!

Plus much more!
Book Here

book here

http://www.vijaygandhi.com/livlofts-%20shops%20at%20donmills

Posted via email from Toronto(GTA) New Home and Condo Informations

South Unionville Square is a new condo project by Mady Development Corporation- Book Here Your Choice Unit

2011-09-11T11:11:00.001-04:00

September 11, 2011 by resalehomeandcondo

South Unionville Square is a new condo project by Mady Development Corporation currently under construction at 8323 Kennedy Road in Markham. The project is scheduled for completion in 2012. Available condos range in price from $190,000 to $377,000. The project has a total of 253 units.

DEVELOPMENT NAME : South Unionville Square
DEVELOPER(S) : Mady Development Corporation
PROJECT TYPE : Condominium
ADDRESS : 8323 Kennedy Road
NEIGHBOURHOOD/CITY : Markham
STATE/PROVINCE : Ontario
PROJECT WEBSITE : www.southunionvillesquare.com
E-MAIL : nancyhui@tradeworldrealty.com
SALES CENTRE HOURS : Saturday – Thursday: 12pm to 6pm
CONSTRUCTION STATUS : Construction
ESTIMATED COMPLETION : 2012
SELLING STATUS : Selling
TOTAL NUMBER OF UNITS : 253 units
NUMBER OF STOREYS : 12 storeys
UNIT SIZES : From 520 to 920 Square Feet
CEILING HEIGHTS : From 9’0″ to 10’0″ Feet
SALES COMPANY : Tradeworld Realty Inc., Brokerage
ARCHITECT(S) : Turner Fleischer Architects Inc.
INTERIOR DESIGNER(S) : Gordana Car Interior Design Studio

PRICES(AVAILABLE UNITS) : From $190,000 To $377,000
MONTHLY MAINTENANCE : $0.42 Per Square Foot Per Month

SIGN UP NOW FOR ACCESS and PRICELIST for BOOKING!!!

www.vijaygandhi.com

The Residences Floor Plans

One Bedroom

Two Bedroom

One Bedroom + Den

Posted via email from Toronto(GTA) New Home and Condo Informations

Toronto B.streets Condos by Lindvest Properties, PLUS 6, B.streets Townhouses in Toronto Annex Community , Eco-Friendly Toronto B.streets Condos The Toronto B.streets Condos by Lindvest Properties

2011-09-10T12:03:00.001-04:00

Toronto B.streets Condos by Lindvest Properties, PLUS 6, B.streets Townhouses in Toronto Annex Community , Eco-Friendly Toronto B.streets Condos The Toronto B.streets Condos by Lindvest Properties

EXCLUSIVE LAUNCH at the Toronto B.streets Condos by Lindvest Properties, PLUS 6, B.streets Townhouses in Toronto Annex Community , Eco-Friendly Toronto B.streets Condos

The Toronto B.streets Condos by Lindvest Properties

Located at 783 Bathurst Street Toronto B.streets condos features only 195 residential units for sale in a prime location if the Annex Community. Now in preconstruction phase, the new B.streets Toronto Annex condos is by a award winning developer in Lindvest Properties and will feature a boutique 9 storey mid-rise building with Milborne Real Estate in charge of sales and marketing. The unique and stunning exteriors of the preconstruction Toronto B.streets condo building is designed by Hariri Pontarini Architects and the interior design is by Cecconi Simone, bringing a trio of award winning and well established firms for this new Toronto real estate development. The ground floor will incorporate boutique retail storefronts and the top eight storeys will be prime Annex Toronto B.streets condos for sale. Located along a laneway at Bathurst Street, the efficient and eco-friendly Toronto condos for sale features environmentally friendly upscale design coupled with a truly modern exterior façade that brings a ‘cube’ like structure elongated along Bathurst. The four storey brick podium (with grey coloured brick accents) creates variety from the curb appeal aspect and the preconstruction Toronto B.streets condos also features 6 boutique Annex B.streets townhouses that face the laneway. These multi level B.streets townhouses in Toronto Annex neighbourhood are some of the most exceptionally finished townhomes on the market. For more information about the new Annex B.streets Condos at Bloor & Bathurst in Toronto real estate market, please book at www.condosupermarket.com for all the details online.click here to pre-register

Amazing Annex Toronto Real Estate District Presents the Bstreets Condos

The Bstreets Toronto condo building designed by Hariri Pontarini Architects blends seamlessly into the prestigious and ultra-exclusive Annex Toronto real estate district and will be located in an intimate and quiet residential enclave along Bathurst Street. The Bstreets architecture blends both dark and white accents with gunmetal grey brick façade and precast, giving rise to a truly unique and striking mid-rise building. The Annex Toronto Bstreets Condos for sale will rise 9 storeys in a stepped fashion from a 4 storey podium deck and will be anchored by two storey Bstreets Townhouses in Toronto Annex real estate market coupled with ground floor retail space. There are also 2 storey Toronto Bstreets penthouse suites for home buyers to choose from and the floor plans will range from functional 1 bedroom plans to 3 bedroom spacious layouts. Connecting to many of the local amenities and services is very easy. Both east and west, you will find everything you need in the Bstreets Toronto Annex real estate district, which includes top ranked schools, grocery stores, banks, recreational facilities, community centres, shopping and restaurants.

More Information about the B.street Toronto Annex Condos & Townhouses

When it comes to on site amenities, the Bstreet Toronto condos in the Annex will feature everything from a party room (clubhouse) with dining room and catering kitchen as well as a ful media centre. There is even an internet lounge as well as a fitness gym at the preconstruction Toronto Bstreet condos and townhouses for sale. On the ground level, the Bstreet Toronto condo building will house two lobby areas that run from the West to the East which intersect right at the central concierge desk. Also available at the preconstruction Toronto Bstreet Condos is an outdoor patio terrace where you can socialize, entertain or relax. Also available is a yoga studio in addition to a hobby room for handyman and arts and crafts. When it comes to the interior at the B.streets Toronto condos for sale will give you urban aesthetics with a modern sophisticated twist. From the New York turn of the century style to the high-end contemporary finishes, the B.streets Toronto preconstruction condos will give you everything you need when it comes to a truly urban sleek look and feel. The open concept floor plans at B.streets Toronto preconstruction condos will be functional and large and many of the appliances will be paneled and hidden away from sight when not needed. The master bedrooms will be very spacious and the kitchens will be chef inspired. The living spaces will also be very large and the new Toronto B.streets condos and townhouses will have outdoor spaces for you to enjoy throughout the seasons. The B.streets presentation centre will be opening shortly at 783 Bathurst Street Toronto Ontario at Bloor & Bathurst in the Annex neighbourhood.

*we donot represent builder directly

contact for Pre-registration

Vijay Gandhi,
Sales Representative- REALTOR^®,
RE/MAX Dynasty Realty Inc. Brokerage*
C: 647. 267. 6338
(Direct-Leave message or text)
P: 416.335.4335 | 905.471-0002
(page me-Have me)
F: 905.471.7441
E:vtgandhi@yahoo.com , vgandhi@remax.net
W: www.vijaygandhi.com , www.gtarealtyagent.com
www.icxforsale.com

Posted via email from Toronto(GTA) New Home and Condo Informations

Berczy Square – Phase 3 – Grand Opening Registration, New Phase of 3 and 4 Bedroom Detached Homes, On Kennedy Rd in Unionville

2011-09-10T10:14:00.001-04:00

features
sales centre
price list

Price List

33 SERIES
	Model	Sq. Ft.	Price
	Model 2510	2510 sq. ft.	N/A
	Model 2538	2538 sq. ft.	N/A

35 SERIES
	Model	Sq. Ft.	Price
	Model 2637	2637 sq. ft.	N/A
	Model 2710	2710 sq. ft.	N/A
	Model 2735	2735 sq. ft.	N/A
	Model 2875	2875 sq. ft.	N/A

44 SERIES
	Model	Sq. Ft.	Price
	Model 2877	2877 sq. ft.	N/A
	Model 2927	2927 sq. ft.	N/A
	Model 3005	3005 sq. ft.	N/A
	Model 3126	3126 sq. ft.	N/A
	Model 3328	3328 sq. ft.	N/A

All prices are subject to change without notice. Some lots are subject to premium charge. G.S.T. Included

call me @ 647 267 6338 for floorplans and pricelist

contact for registration

Vijay Gandhi,
Sales Representative- REALTOR^®,
RE/MAX Dynasty Realty Inc. Brokerage*
C: 647. 267. 6338
(Direct-Leave message or text)
P: 416.335.4335 | 905.471-0002
(page me-Have me)
F: 905.471.7441
E:vtgandhi@yahoo.com , vgandhi@remax.net
W: www.vijaygandhi.com , www.gtarealtyagent.com
www.icxforsale.com

Posted via email from Toronto(GTA) New Home and Condo Informations

Investing in a second property

2011-03-22T19:08:00.002-04:00

Investing in a second property

If you're thinking about buying a piece of real estate as an investment property, market conditions are definitely in your favour. While the resale housing market has seen a tremendous amount of activity from first-time buyers in the past year, it's also a perfect time for existing homeowners to invest in secondary residential properties.

With record-low interest rates and significantly lower prices it's hard to go wrong - unless, of course you lack the financial means to make the investment. After all, you have to be ready to meet all the obligations that come with owning more than your principal property.

For instance, keep in mind that if you intend to rent out the second property, you'll also have to be prepared to deal with tenants and handle maintenance costs.

Leverage
Secondary home ownership is an attractive investment option because it gives you even more leverage than you have with your principal residence. Leverage is when a relatively small amount of your money controls a much larger asset - like a property.

The more leveraged you are, the greater the financial return on your down payment becomes if the value of your property increases. There are very few other investments which can be purchased with such a small percentage of your own money.

For instance, let's say you acquire a second property for $100,000, with a $15,000 down payment, and during the first year that you own it, the property increases by a value of three per cent for a $3,000 gain. As a result, the return on your down payment of $15,000 is 20 per cent - $3,000 divided by $15,000.

Other Investments
By comparison, let's say you were to buy a term investment of $100,000 (in cash) for one year and it increased by $8,000 over the course of the first year. Since it cost you $100,000 in cash to buy it, the return on your investment is only eight per cent before taxes. Obviously, leveraging is a powerful way to make your money work for you.

Getting Financing
You should be aware that many lenders place non-owner occupied deals in the high-risk category and it's not that unusual to find lenders who will not finance rental units at all - or those who will only finance them if they are insured.

Obviously, lenders will want to know whether the property will carry itself. (Is there sufficient rent to cover the mortgage payment?)

Don't make the mistake of assuming that a rental income of $500 per month will carry a mortgage payment of $500 per month. Only a portion of the rent is used to pay the mortgage; the remainder must cover taxes, maintenance, vacancy, bad debt and expenses.

(Many inexperienced purchasers think that owning rental properties will allow them to "get rich quickly" and when this does not happen, the owner becomes disillusioned and loses interest in the property.)

Costs
You should also be aware that the cost of obtaining a mortgage (for legal and appraisal fees) on a non-owner occupied property can be higher than the cost of obtaining a mortgage on an owner-occupied property, when more than one unit - such as a duplex or triplex is involved.

Interest rates charged on rental properties might also be higher because some lenders view these properties as being a higher risk.

As mentioned above, the main responsibility of having a second property is being able to carry it financially. And if you're like most people, you'll probably have to rent it to someone as a result.

This is also a great deal of responsibility because you will have to maintain the property in addition to your own principal residence, and you'll be responsible for finding tenants who you trust and feel comfortable with.

Some parents with grown children ready to go off to university or college choose to purchase secondary properties for their offspring to live in while they attend school. This gives them an excellent investment and they are assured that the occupants will take good care of the home.

If you'd like more information about purchasing a second property, consult REALTOR^® .

REALTOR^® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS^® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license.

Vijay Gandhi is a Re/max Real Estate sales Personnel & Independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.

Have you considered a 50/50 Mortgage?
As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!
Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today! We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…
Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 5 Years Fixed Prime
*condition apply/sub. to availability

Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters. *we do not represent builder/s directly.

The information provided in this blog is for information purpose only; Author is not Liable for any Misuse or any other, Use the info on your risk. Please verify the codes from local and federal laws and use right professional advice in any of the matter here above or anywhere in my article.

Author is Licensed Real Estate Agent and Mortgage Agent, and provides service in the respective field only. For other services please consult right professional at your choice.

Contact us:

Vijay Gandhi,
Sales Representative- REALTOR^®,
RE/MAX Dynasty Realty Inc. Brokerage*
Mortgage Agent
CENTUM Metrocapp Wealth Solutions Inc., Brokerage*
C: 647. 267. 6338
(Direct-Leave Message or Text)
O: 416.335.4335 | 905.471-0002
(24x7 Page me-Have me)
F: 905.471.7441
E: vtgandhi@yahoo.com , vgandhi@remax.net
W: www.vijaygandhi.com | www.gtarealtyagent.com
www.icxforsale.com | www.condosupermarket.com

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!

The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.

Please, forward my name, phone number & e-mail address to your friends, relatives, clients..

Canada’s National Housing Agency is the best place to find important housing information.

2011-03-05T21:01:00.001-05:00

Canada’s National Housing Agency is the best place to find important housing information.

March 5, 2011 — gtarealtyagent | Edit

1 Votes

CANADA MORTGAGE AND HOUSING CORPORATION

Français | Home | CMHC Website

Canada’s National Housing Agency is the best place to find important housing information.

Are you looking for information about

Housing market stabilizing: CMHC

Click here to see the Active Listings currently for sale in key Toronto GTA neighborhoods. If you see anything of interest and would like further information or to arrange a private viewing, please call or e-mail us and we’d be glad to provide our unparalleled service to you.

This blog communication is for public awareness and public responsibility, for client and customer benefit and best intrest in mind.

Vijay Gandhi is an Re/max Real Estate sales Personnel & independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.

Have you considered a 50/50 Mortgage?

As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!
The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.
Please, forward my name, phone number & e-mail address to your friends, relatives, clients..

Condominium Living-- What you need to know. - free e-book

2011-02-12T17:46:00.001-05:00

Condominium Living-- What you need to know.

It's often said that buying a condominium is buying a lifestyle. What does that mean? Condo living is different from owning or renting a single dwelling, town house or apartment, because condos have a dual nature. Condo owners hold title to their units and share responsibility for the operating costs of the balance of the property (common elements such as lobbies) that makes up the condo.
There are many advantages to condo ownership. It may be less expensive than other types of home ownership. It can provide an "instant" sense of community. While someone else is shoveling the snow, you can participate in community decision-making. But condos are not everyone's cup of tea. Condominium corporations may set restrictions on such things as owning pets, or having an outdoor barbecue.

When you purchase a Condo, you automatically become a part of a homeowner's association to which you pay Condo fees The fees cover the cost of maintaining and insuring the common areas. Precisely what the Condo Fees cover will vary from one complex to the next, so find out exactly what's covered before you buy.

The Condo Fees also help fund a Reserve Fund to cover major expenses, like refurbishing common areas or replacing an elevator. Make sure to check a current financial statement for the association. If the reserve account isn't flush enough to cover unanticipated expenses, the individual homeowner's could be accessed an additional amount to cover the expense. This will add to your cost of ownership.

Reserve Fund Studies:
A condo corporation must maintain a reserve fund for the sole purpose of paying for major repairs and replacement of the corporation's common elements and assets. Corporations are required to conduct a reserve fund study to determine whether the fund can cover these costs. Once the study is done, the board proposes a plan to ensure the reserve fund is adequate. All owners must be given a notice containing summaries of the study and plan and a statement indicating any differences between the two. All existing condominiums must complete a reserve fund study by Yearly from 2005. The fund must become fully funded within 10 years of the study. New condominiums must complete a study within one year of registration and the fund must be fully funded by the end of the following fiscal year.

_____________________________________________________________________

for a Complimentary Copy of E-BOOK
“Condominium Ownership and What You Need to Know” contact us
_____________________________________________________________________

How is the condominium run?
A board of directors elected by the owners runs the condominium corporation. The board's function is to manage the corporation. A new requirement will ensure that if at least 15 per cent of the units are owner-occupied, owner-occupants will reserve one position on the board for election. In this way owner-occupants are assured representation on the board.
Major decisions are voted on at owners' meetings. Under the new Act, annual general meetings must be held within six months of the end of the condo corporation's fiscal year to ensure that unit-owners have an opportunity to review the financial statements in a timely manner. Participation in community decision-making is a benefit of condominium living.

If you own a condominium Ontario’s Condominium Act helps to better protect your investment and to improve the day-to-day operation of your condominium.

Condo Information Feedback

If you would like to Buy a condo, please fill out the form below to contact for GTA- Realty Agent : Vijay Gandhi

For faster service you can call us direct.

Call Vijay: 647-267-6338, or E-Mail

New Toronto Condos - Presale & Pre-Construction Real Estate, Re Sale & Assignment

For a complimentary copy of e-book
“Condominium Ownership and What You Need to Know” contact us

Key Economic Points and Housing Forecasts by CMHC for 2011http://wp.me/pS1hn-gY

Housing market stabilizing: CMHC

Click here to see the Active Listings currently for sale in key Toronto GTA neighborhoods. If you see anything of interest and would like further information or to arrange a private viewing, please call or e-mail us and we'd be glad to provide our unparalleled service to you.

This blog communication is for public awareness and public responsibility, for client and customer benefit and best intrest in mind.

Have you considered a 50/50 Mortgage?

As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!

Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today!We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…
Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. to availability
Contact us:
Appropriate expert advice from a Lawyer, Chartered Accountant or Tax Consultant to be /should be sought in regard to capital Gains or any legal, Tax, Financial issues and exemptions and other issues or concerns.
Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters. *we do not represent builder/s directly.
The information provided in this blog is for information purpose only; Author is not Liable for any Misuse or any other, Use the info on your risk. Please verify the codes from local and federal laws and use right professional advice in any of the matter here above or anywhere in my article.
Author is Licensed Real Estate Agent and Mortgage Agent, and provides service in the respective field only. For other services please consult right professional at your choice.

“YOUR PERSONAL REAL ESTATE & MORTGAGE ADVISOR^®FOR LIFE”
Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!
The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.
Please, forward my name, phone number & e-mail address to your friends, relatives, clients..

Home Energy Retrofit Grants – Deadlines for Eligibility

2011-01-30T12:08:00.001-05:00

Home Energy Retrofit Grants – Deadlines for Eligibility

The federal and provincial governments provide grants to homeowners who undertake renovations that improve the energy efficiency of their homes. These programs are coming to a close as of March 31, 2011. See deadlines for eligibility below.

Details

Before undertaking any renovations:

Homeowners must first have an energy audit of their home performed by a licensed service organization (list of auditors provided at government web site address provided below). The evaluation report provides customized recommendations for renovations to improve the energy efficiency of the home. Once the homeowner has completed the renovations, a second audit must be undertaken within 18 months of the first one to determine the change in the home’s energy efficiency.

Deadlines for eligibility:

Home energy retrofit grants are provided by both the federal and provincial governments. Both programs are ending as of March 31, 2011. To be eligible for federal grants, homeowners must have booked a pre-retrofit audit BEFORE March 31, 2010 and have the post-retrofit audit completed by March 31, 2011, or within 18 months of the date of the pre-retrofit evaluation (whichever comes first). Homeowners who booked a pre-retrofit audit AFTER March 31, 2010 can only access grants from the provincial government, but must also complete their post-retrofit audit completed by March 31, 2011.

For more information visit:

http://www.mei.gov.on.ca/en/energy/conservation/ohesp2/

http://oee.nrcan.gc.ca/residential/personal/grants.cfm?attr=0

For renovation related loans are also available click http://torontomortgagetrends.com/Refinancing.php

http://torontomortgagetrends.com/Tap-Into-Home-Equity.php

___________________________________________________________
Home Electrical Safety Test – DIY do it your self and score your test- evaluation>>>>FREE DOWNLOAD___________________________

What you should know about Knob & Tube

Knob and Tube Wiring in Residential Installations

What you should know about aluminum wiring

Aluminum Wiring in Residential Installations

Finding an Authorized Contractor

To find the Authorized contractor nearest you

If you are looking for a listing of Licensed Contractors in Ontario, please click here for the ECRAESA listing of Licensed Contractors.
The Authorized Contractor Program was developed by ESA to recognize those Licensed Electrical Contractors and HVAC Installers who consistently perform Ontario Electrical Safety Code compliant work.
The Biological, Chemical and Mold Testing Report, ESA Cover Sheet, ESA Requirements Checklist and Structural Report (if required) may be submitted by:
E-mail: hygiene.reports@electricalsafety.on.ca
Fax: 1-905-712-7845
Mail: ESA, 400 Sheldon Drive, Unit 1, Cambridge ON N1T 2H9

Grow House Report Cover Sheet ESA Requirements for Inspection of a Site for Reconnection After a Grow House or Meth Lab Operation

This blog communication is for public awareness and public responsibility, for client and customer benefit and best intrest in mind.

Source of Information : http://www.esasafe.com/GeneralPublic/index.php

Have you considered a 50/50 Mortgage?

As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!

Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today!We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…
Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. to availability
Appropriate expert advice from a Lawyer, Chartered Accountant or Tax Consultant to be /should be sought in regard to capital Gains or any legal, Tax, Financial issues and exemptions and other issues or concerns.
Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters. *we do not represent builder/s directly.
The information provided in this blog is for information purpose only; Author is not Liable for any Misuse or any other, Use the info on your risk. Please verify the codes from local and federal laws and use right professional advice in any of the matter here above or anywhere in my article.
Author is Licensed Real Estate Agent and Mortgage Agent, and provides service in the respective field only. For other services please consult right professional at your choice.

Buying a Home: Electrical Current Safe. Safety 1st .

2011-01-23T13:55:00.001-05:00

Buying a Home: Electrical Current Safe. Safety 1^st .

Buying a home is one of the largest investments that we can make, and you want to minimize any surprises.

It is recommended that a record search be conducted with the Electrical Safety Authority to ensure that no outstanding work orders exist on the property that you are considering purchasing. Your lawyer can request a record search to check if ESA has any recorded outstanding defects on the property, or open notifications.

If you are not sure the wiring meets Ontario Electrical Safety Code requirements, you can request that the owner arrange for a general inspection as part of the terms and conditions of purchase. The general inspection will identify if there are any electrical defects that need to be corrected. The existing owner will be responsible for correcting any defects – or can negotiate with the potential purchaser to assume responsibility.

In addition, it is recommended that you ask the previous owner for copies of “Certificates of Inspection” for any electrical installations/modifications that have been conducted since the original construction of the home.

Home Electrical Safety Test – DIY
do it your self and score your test- evaluation>>>>FREE DOWNLOAD

What you should know about Knob & Tube

Knob and Tube Wiring in Residential Installations

What you should know about aluminum wiring

Aluminum Wiring in Residential Installations

Finding an Authorized Contractor

To find the Authorized contractor nearest you

Grow House Report Cover Sheet ESA Requirements for Inspection of a Site for Reconnection After a Grow House or Meth Lab Operation

Following are links to Professional Listings of persons or agencies that may conduct the required testing in compliance with ESA’s Health and Safety requirements. It is the responsibility of the facility owner to confirm that ESA requirements can be met prior to engaging the services of a person or agency.

CRBOH - Canadian Registration Board Occupational Hygienists Directory of Consultants in Occupational and Environmental Health and Safety - 2007 Public Database Search for Persons Certified for the Practice of Industrial Hygiene by the American Board of Industrial Hygiene

Certificates of Inspection

The Electrical Safety Authority is encouraging the public to request copies of the “Certificate of Inspection” for all electrical work done in their homes/businesses. The General Inspection provides the end-use customer with a record that all electrical work in their home/business complies with the requirements defined in the Ontario Electrical Safety Code.
The Certificate of Inspection is sent to the permit applicant -- ask your contractor for a copy of the Certificate.

This blog communication is for public awareness and public responsibility, for client and customer benefit and best intrest in mind.

Source of Information : http://www.esasafe.com/GeneralPublic/index.php

Have you considered a 50/50 Mortgage?

As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!

Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today!We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…
Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. to availability
Appropriate expert advice from a Lawyer, Chartered Accountant or Tax Consultant to be /should be sought in regard to capital Gains or any legal, Tax, Financial issues and exemptions and other issues or concerns.
Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters. *we do not represent builder/s directly.
The information provided in this blog is for information purpose only; Author is not Liable for any Misuse or any other, Use the info on your risk. Please verify the codes from local and federal laws and use right professional advice in any of the matter here above or anywhere in my article.
Author is Licensed Real Estate Agent and Mortgage Agent, and provides service in the respective field only. For other services please consult right professional at your choice.

Light Rail Transit & Scarborough Condos – Good and Bad sides

2011-01-22T16:04:00.001-05:00

Light Rail Transit & Scarborough Condos – Good and Bad sides

Scarborough CONDO home owners and residences will benefit tremendously from Light Rail Transit (LRT) on Sheppard Avenue East – from Don Mills Subway Station to Meadowvale Road. LRT makes public transit more efficiency and enjoyable from Kennedy Rd to the East along Sheppard Avenue and to the West – Don Mill Subway Station. Not only does Toronto Transit City Light Rail Plan make overall environment greener most likely it will increases the value of all CONDO units in Scarborough. Pre-construction activities & Resale have been up because of that. The specific LRT construction schedule is being confirmed 2010.

Sheppard Avenue East Light Rail Transit (LTR)

Connection at Don Mills Subway Station

The Sheppard Avenue East Light Rail Transit (LRT) will provide a fast, reliable, and comfortable way to travel on Sheppard Avenue between Don Mills Subway Station and Meadowvale Road. The LRT is planned to enter a tunnel just west of Consumers Road, travel under Highway 404 and connect directly to the subway level at Don Mills Station. The modern electrically-powered light rail vehicles will operate in dedicated transit lanes, separated from traffic.

What key benefits will this project bring to the City and Scarborough in particular?

Like everywhere across Toronto, there will be considerable growth in the Sheppard corridor in the future. By separating transit from general traffic, this project can provide a fast, reliable – i.e. predictable – ride for customers. More people will find transit attractive, so we are taking a major step towards ‘Building a Transit City”. Toronto’s Official Plan is premised on such an approach to making transit a more attractive travel option as the City grows.

The City’s Official Plan (OP) designates certain sections of the city as ‘Avenues’ where they plan to develop a more urban and pedestrian friendly street environment – this includes the section on Sheppard Ave from Victoria Park to McCowan. Light Rail Transit (LRT) will help create development in this area that is more dense, varied and transit-oriented.

Project Overview

The Toronto Transit Commission and the City of Toronto will construct an LRT line from Don Mills Subway Station to Meadowvale Road which will improve transit operations on Sheppard Avenue East significantly.

• The LRT will operate in reserved lanes in the middle of Sheppard Avenue East between

Consumers Road and Meadowvale Road.

• West of Consumers, the LRT is planned to operate in a tunnel under Highway 404, and

connect directly to the subway level at Don Mills Station.

• The associated road works include a major widening of Sheppard Avenue between

Pharmacy Avenue and Meadowvale Road to incorporate the LRT, two traffic lanes in each direction, separate left turn lanes, and new bicycle lanes.

• The project will include a grade-separation of Sheppard Avenue under the Agincourt GO line.

LRT Connection between Consumers Rd. and Don Mills Station

The Sheppard East LRT will enter a tunnel just west of Consumers Road,

travel under Highway 404 and ‘butt up’ against the east end of the subway platform. This

would allow transferring customers to walk from the subway to the LRT along a single

continuous platform without having to change levels.

The purpose of the project

The TTC and the City of Toronto want to identify the best way to provide high quality transit service in the Sheppard Avenue East corridor, from Don Mills Subway Station, to Morningside and potentially as far east as Meadowvale Road, in a manner whichis affordable. It makes transit a much more attractive travel option relative to the private auto; and it supports the City’s growth objectives of a better variety and density of transit-oriented developments.

The projected annual ridership of the route

In 2021, it is expected that the Sheppard East LRT will carry 17 million riders a year. Based on further, detailed forecasting (premised on development levels as far into the foreseeable future as possible – 2031) we can expect to be carrying 3000 people per hour in a single direction on the busiest point on the line.

Technology

There are two basic criteria that are generally required for a facility to be called “LRT”: electrically powered rail vehicles with power supplied from overhead wires – which allows them to operate on a city street – and operation of these vehicles in a dedicated right-of-way. The vehicles can be operated individually, or attached together and operated in ‘trains’. This right-of-way can take many forms – from lanes in the middle of the street, to hydro corridors or abandoned railway corridors

In addition to the above, all-door loading (not just front doors) is characteristic of modern LRT lines in North America and there is normally a much greater distance between stops, relative to a typical bus route.

LRT preferred over a subway extension

The design of a transit service is based on the number of people it is expected to carry per hour in a single direction at the ‘peak point’, the busiest spot on the line. City planning forecasts for the Sheppard Avenue corridor into the foreseeable future show a peak point demand in the order of 3000 people per hour. This demand can easily be accommodated by LRT, particularly given that the new light rail vehicles being designed for the TTC will be about twice the size of a standard Toronto streetcar, and can be easily ‘coupled’ to operate as two-car trains, if single vehicles operation is getting too frequent to avoid vehicles catching up and ‘bunching’. A peak point demand of 3000 per hour is well below what would be required to justify the much higher cost of a subway.

Preliminary cost estimates of a surface LRT – such as that proposed on Sheppard Avenue, including vehicles, is estimated to cost roughly $40 million per kilometre. In comparison, recent estimates for the extension of the Spadina/University subway, from Downsview station to Steeles Avenue, are over $200 million per kilometre (including vehicles).

LRT preferred over buses

LRT is more comfortable for riders, quieter, has no emissions on the street, and is far superior in carrying capacity in a constrained environment such as an arterial roadway. Buses in dedicated lanes, sometimes called BRT, or bus rapid transit, cannot easily accommodate 3000 people – the peak hour demand projected on Sheppard Avenue – unless the bus ROW includes by-pass lanes at intersections to allow some buses to operate “express” and pass “local buses” stopped to serve customers. To illustrate the problem, it would require 40 articulated buses per hour to accommodate a peak hourly demand of 3000 people. That is a bus every 1 ½ minutes. Even with dedicated lanes, buses operating this close together would catch up to one another and ‘bunching’ would result if some of them don’t operate express. Given that there are a variety of important objectives for Sheppard Avenue – in addition to high quality transit – such as a comfortable walking environment, attractive streetscaping, bike lanes, etc., there is not sufficient width available to allow for the construction of a by-pass lane to be added to the transit right of way.

Speed of LRT vs Buses

In terms of reduced travel times, in the p.m. rush hour, the bus service on Sheppard Avenue is scheduled to operate at an average speed of about 17kph. For purposes of comparison, the average speed of TTC subways is in the order of 30kph. It is expected that the LRT will travel at speeds of about 22km-25km depending on the number of stops in the final design.

Therefore the travel time savings on Sheppard using an LRT are projected to be considerably faster than bus service in the p.m. peak period, when there is the greatest interference from traffic. Keep in mind that those are today’s figures – the average speed of a bus in mixed traffic would be expected to decrease as the city grows; given that the LRT is to operate in separate lanes, it will be protected from increasing traffic congestion.

The LRT run in the middle of the street

In designing dedicated transit lanes, any crossings by other traffic must have a traffic signal to ensure everyone knows who has the right-of-way. On Sheppard Avenue, or any roadway where there are very frequent un-signalized intersections and driveways, the side of the road option is not feasible because they would all have to be signalized.

The Sheppard LRT connect to the existing transit network (SRT)

SRT is a separate study looking at optional alignments – that study will determine the location of and design of the interface between the two lines. The SRT (Scarborough Rapid Transit) study website is also located at www.toronto.ca/involved .

At a minimum, it must extend far enough east to intersect with the Scarborough Malvern LRT line. At present, that line is proposed on Morningside, but that EA study will evaluate Neilson as a potential alternative. In any event, the Sheppard East LRT EA study is evaluating going as far east as Meadowvale

Traffic, Parking and Other

East of Pharmacy, Sheppard has two through traffic lanes in each direction and the road will be widened to maintain these lanes. However, there are some existing right turn lanes that may be removed to allow more space for a better pedestrian/cycling environment and better urban design. West of Pharmacy, where there are three through lanes in each direction, we expect a reduction to only two through lanes, consistent with the section to the east. However, our designs to date do not include a reduction to the number of lanes on Sheppard in the vicinity of the Hwy 404 overpass.

Left turns across the right-of-way will only be permitted where there is a traffic signal. Between traffic signals, there will be no left turns permitted from Sheppard into un-signalized intersections or driveways, or from those locations, onto Sheppard. However, there will be separate left turn lanes provided at the signalized intersections and motorists will be able to make “U” turns from these lanes; a motorist on Sheppard who now makes a left turn into a midblock driveway could, with the LRT in place, simply go past the driveway, to the next signalized intersection, and make a “U” turn to return to his/her destination.

Noise or vibration from the LRT
There will be very little noise – the greatest problem with noise on light rail lines is created at locations where the vehicle must operate through a loop to turn around. This creates ‘wheel squeal”. The vehicles on Sheppard are planned to be ‘double-ended” – ie. have an operators’ cab at both ends so it can be operated in either direction. It will reverse direction at each end of the line, similar to the operation of a subway, and therefore will not need loops. TTC will design the trackbed to dampen vibration and ensure it is kept at an acceptable level; as part of the EA study, TTC will be undertaking a vibration assessment.

Vijay Gandhi from RE/MAX is dedicated to providing you with a home you’ll love to live in. Contact him as by email
From all economic indicators, it appears that higher interest rates are on the way in 2012.
What would your monthly payments be at current home prices in your neighborhood? Compare your options using CENTUM Mortgage Calculators.

As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!

Thanks for visiting my web sites:

vijaygandhi.com , icxforsale.com & torontomortgagetrends.com

Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. To availability

Target for the Overnight Rate
Key interest rate: target for the overnight rate

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!
The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.

Please, forward my name, phone number & e-mail address to your friends, relatives, clients..

Your comments on the subject is most welcome…

Please discuss the recent developments in your community connected to this project and find out the ways and get advice if it is connected to your real estate interest from us .Thank you.

New Mortgage Regulations Announced on 17 Jan 2011

2011-01-17T19:39:00.002-05:00

New Mortgage Regulations Announced on 17 Jan 2011

Finance Minister Jim Flaherty has announced new mortgage regulations.

Video Link from Globe and Mail Link 1

Link1 : http://www.theglobeandmail.com/report-on-business/video/ottawas-new-mortgage-rules/article1872591/
Video Link from Globe and Mail Link 2 Link 1
http://www.theglobeandmail.com/report-on-business/video/ottawas-new-mortgage-rules/article1872591/
January 17, 2011

As many of you heard this morning on the news the changes about Mortgage market by Finance minister.

Here is a quick Update, stay tuned for updates on this topic.

This morning, Finance Minister Jim Flaherty has announced new mortgage regulations aimed at reducing Canadians’ soaring household debt.

Flaherty has unveiled three new rules:

(1) Mortgage amortization periods will be reduced to 30 years from 35 years.

(2) The maximum amount Canadians can borrow to refinance their mortgages will be lowered to 85 per cent from 90 per cent.

(3) The government will withdraw its insurance backing (i.e. CMHC insurance)on lines of credit secured on homes, such as home equity lines of credit.

The new rules come on the heels of a Bank of Canada announcement that Canadians’ domestic debt burdens have hit record levels.

The change in amortization and refinance borrowing limits will go into effect on March 18, 2011 and the change in insurance on home equity lines of credit will go into effect on April 18, 2011.

The first change is likely to have the largest impact. Buyers who purchase a home with less than 20 per cent of the value of the home are required to purchase government-backed mortgage insurance through Canada Mortgage and Housing Corporation.

Under the new rules, mortgages amortized over longer than 30 years will no longer qualify for that insurance, making it effectively impossible to get a highly leveraged mortgage of more than 30 years in Canada.

While Flaherty called the changes “moderate,” they did not include an increase to the five per cent minimum down payment Ottawa requires for a home purchase. They also stopped short of a proposal that surfaced last week which would have required 100 per cent of condo fees to be included in the list of expenses that are measured against income when financial firms consider a mortgage candidate. Currently, only 50 per cent must be included.

The ratio of household debt to disposable income has reached 147 per cent and household debt has reached $1.4 trillion.

The International Monetary Fund has called household debt the No. 1 risk to the Canadian economy.

Here is net impact of the first change a client with 90K income that could qualify for 415K with 5 % down, Now the same client will qualify for 397K, another way to look at it is that 4K more in income would be needed to qualify for 415K purchase price. THIS IS EFFECTIVE AS OF MARCH 18 for Mortgages and April 18 for Line of credit.

Here is the link to the official change: http://www.fin.gc.ca/n11/11-003-eng.asp

Action for realtor B2B partners: It is a good idea to touch all clients in pipeline to make sure their approvals are valid in their benefit.
If you need to run a quick scenario by me feel free to call at your convenience.
For more information on the regulations and their impact on our industry, please contact Vijay at vgandhi@remax.net

Vijay Gandhi from RE/MAX is dedicated to providing you with a home you’ll love to live in. Contact him as by email

From all economic indicators, it appears that higher interest rates are on the way in 2012.
What would your monthly payments be at current home prices in your neighborhood? Compare your options using CENTUM Mortgage Calculators.

Vijay Gandhi is an independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.

Have you considered a 50/50 Mortgage?
As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!

Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today! We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…

Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. To availability

Target for the Overnight Rate
Key interest rate: target for the overnight rate

“YOUR PERSONAL REAL ESTATE & MORTGAGE ADVISOR^®FOR LIFE”

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!

The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.

Please, forward my name, phone number & e-mail address to your friends, relatives, clients..

Your comments on the subject is most welcome…

Related links:

http://montreal.ctv.ca/servlet/an/local/CTVNews/20110117/flaherty-mortgage-rules-110117/20110117/?hub=MontrealHome

Ottawa’s new mortgage rules

The Variable-Rate Mortgage – Temptress to Us All

2011-01-15T21:11:00.002-05:00

The Variable-Rate Mortgage – Temptress to Us All

Ahh, the variable rate mortgage, temptress to us all. It offers you the lowest borrowing cost in exchange for the security of your locked-in rate. History shows that variable has been the right call for Canadians about 90% of the time, but for the other 10% of the time, history also shows you would have lost more vs. fixed when you bet wrong, than you on average would have saved vs. fixed when you bet right. So it’s the right call, except when it isn’t. And there’s the rub.

If you can’t afford to have rates go up then you shouldn’t go variable. The qualifying standard for high-ratio insurance on variable five-year rates takes away some of the guesswork (rightly in my view). In simple terms, if prime rates are at 3% and the posted five-year rate is at 5.5%, variable-rate applicants must show that they can afford their payment if it increases to 5.5%. It means government money won’t be used to insure variable-rate borrowers with less than 20% equity in their properties who can’t afford to have their rates go up. Hard to argue with that.
One more point before we get into the glories of all things variable. Every lender and broker will make a big deal of the fact that you can convert your variable rate to fixed at any time, and it’s nice to have that option. But don’t imagine that, if variable rates increase by 2%, fixed rates will still be at today’s levels. In reality, if variable rates have risen to the point where you are ready to convert, fixed rates will in all likelihood have done the same, making them more expensive than they are today. It’s not reason enough to forgo choosing variable-rate products, but you should make your choice knowing exactly what you are trading off.
And now for the good parts. For starters, the rates are lower. In normal economic conditions shorter term loans demand a lower risk premium, resulting in a lower rate. Borrowing at a variable rate also makes the prepayment penalty cheaper. Since the bank’s interest rate differential (IRD) penalty can’t be used, your payout penalty is limited to three months interest (which is usually less than half the cost of the IRD penalty for fixed-rate mortgages). Even if rates do go up, they will probably increase over time and the more money you save in the interim, the more they will eventually have to go up before you end up being worse off.
One of the biggest knocks on real estate as an asset class is its illiquidity. Variable-rate mortgage loans that total less than 80% of the property’s appraised value can be combined with a line of credit, which is re-advanceable. This gives you the option to reborrow up to your original loan amount at any time.
The biggest benefit of having a variable-rate mortgage is realized when borrowers use the money they are saving (by having a lower rate) to pay down their mortgage faster. The most prudent approach is to set your payments at the equivalent five-year fixed rate, which will dramatically reduce the life of your loan. From a cash flow perspective, if rates rise later, your payment doesn’t have to change until it exceeds the fixed rate you used to set your payment.
While variable-rate products come with some additional risks, when used prudently, they offer enhanced flexibility and the opportunity to significantly shorten the life of your mortgage. Tempted?
Making Real Estate Easy!! ( http://wp.me/pS1hn-fF )
Vijay Gandhi from RE/MAX is dedicated to providing you with a home you’ll love to live in. Contact him as by email

From all economic indicators, it appears that higher interest rates are on the way in 2012.
What would your monthly payments be at current home prices in your neighborhood? Compare your options using CENTUM Mortgage Calculators.
Vijay Gandhi is an independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.
Have you considered a 50/50 Mortgage?
As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!
Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today! We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…
Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. To availability

Target for the Overnight Rate |Key interest rate: target for the overnight rate

Home Buying 101: 13 Guideposts for Every First-time Home Buyer

2011-01-15T20:50:00.002-05:00

Home Buying 101: 13 Guideposts for Every First-time Home Buyer

Buying your first house is a milestone right up there with the biggies. When you become the legal owner of a patch of land, it’s one of those I-have-arrived moments. Whether it’s checking your satellite picture on Google earth, getting your first condo meeting notice, mowing your grass or just choosing a new paint color without checking with the landlord, purchasing your first home is an exciting time.

As with any other big decisions there is a lot to know, and it’s not all about right or wrong answers. The best overall approach is to take your time, ask a lot of questions of people you trust and do some online research to round out your knowledge. To that end, I offer you my 13 Guideposts for Every First-time Home Buyer. This is a summary of the advice I have received over the years (the good parts anyway) along with some of my own insights.

1. Ease in to it. Go to a few Open Houses. If you’re in a partnership, talk about what you both want and make a list. Try to rank the items. Check out mls.ca to see listings in different areas. Pay attention to local schools, parks, proximity to transit, retail shopping.

2. Start keeping track of what you spend; the more accurate you can be the better. Then develop a budget that includes your projected mortgage payment with estimates for property taxes and maintenance. Trust me on this. 25 years is a long time to owe money and a little extra savings now will save you a lot in the long run.

3. Once you understand your cash flow and you have an idea of how much monthly income you want to commit to your mortgage, get pre-approved and lock in a rate for 120 days. While a pre-approval may not get you the lender’s best rate and it doesn’t guarantee that you will approved on your full mortgage application, it does serve as a form of rate insurance at no cost to you.

4. Don’t try to time the market. If you buy a solid asset at a fair price and stay in the market for the long haul, you’ve set yourself up for success.

5. Choose a good realtor. Referrals from someone you trust are always a good option but if you are starting from scratch, besides the usual vetting, I’d try to find someone who does a lot of business in your areas of interest. One easy way to do that is to scan the realtor’s names when searching MLS listings in your area. You’ll probably notice a few that pop up frequently and the busy ones are usually that way for reason.

6. Location, location, location. It’s a cliché, but isn’t that the ultimate proof statement?

7. If you’re planning on expanding your family in the next five years, make sure your first property can accommodate it. The longer your home fits into your time horizon the longer you have to defray the costs of buying and selling, and the more flexibility you have down the road. Flexibility avoids your having to sell urgently because your third child is going to have to sleep in a drawer!

8. Bidding wars are gut wrenching because by the time you’re ready to plunk your money down you’ve gone over every inch of the house in your mind and made it your own. If you’re in that situation, consider the advice that I got from my agent Claudio, who basically said, “Go in with a number where if you lose the house, you won’t be kicking yourself the next day if you find out it sold for $5,000 more.” And if someone else makes a higher offer, c'est la vie.

9. Get a home inspection. A good one costs about $500 and you should do your homework beforehand. Specifically, ask about the experience and background of the person the inspection company is sending out. For this kind of advice I’d want someone who had experience in construction, and I’d ask if he/she can bring a thermal camera (to check for air loss, cold spots and drafts). I know $500 sounds like a lot but on a purchase of this size it’s a drop in the bucket, especially compared to what you might pay for a major repair.

10. Consider taking out a Home Buyer’s Plan RRSP loan which allows you to borrow up to $25,000 from your RRSP, especially if it will lower or eliminate your need for high-ratio insurance.

11. Make sure you take advantage of tax rebates and credits. The First-time Home Buyer’s Tax Credit, introduced in 2009, gives you a credit of $750. Both the Ontario and Toronto Land Transfer Taxes offer rebates for first time home buyers.

12. If at all possible, live in your house for a while before you renovate. You’ll develop a better sense of where you want things to go and how you use each space.

13. Enjoy it! Buying your first house is an adventure of discovery and an experience you’ll remember for the rest of your life .

We make our best decisions when we feel secure in the knowledge that we have planned properly and have approached big decisions in a methodical, measured way. Do that, and you give yourself the best possible chance for success and happiness.

Making Real Estate Easy!! ( http://wp.me/pS1hn-fF )

Vijay Gandhi from RE/MAX is dedicated to providing you with a home you’ll love to live in. Contact him as by email

From all economic indicators, it appears that higher interest rates are on the way in 2012.

What would your monthly payments be at current home prices in your neighborhood? Compare your options using CENTUM Mortgage Calculators.

As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!

Thanks for visiting my web sites:

vijaygandhi.com , icxforsale.com & torontomortgagetrends.com

Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%

*condition apply/sub. To availability

Target for the Overnight Rate |Key interest rate: target for the overnight rate

“YOUR PERSONAL REAL ESTATE & MORTGAGE ADVISOR^®FOR LIFE”

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!

The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.

Please, forward my name, phone number & e-mail address to your friends, relatives, clients..

Real Estate Today

2011-01-15T20:31:00.001-05:00

Real Estate Today

Proposed condo rules could make it harder to buy (CTV)
New rules would hit condo buyers (Financial Post)
Canadian housing data (Globe and Mail)
Clouds darken over new home construction (Globe and Mail)
New home prices top pre-recession peak (Financial Post)
Canadian homebuilding activity falls in December – pdf (TD Economics)
Toronto housing starts up for 2010 (Toronto Star)
Building permits down in Toronto market (Toronto Star)
Toronto’s priciest home is going for $27M (Toronto Star)
C.D. Howe wants a rate hike. Seriously? (Globe and Mail)
Major cities enjoy economic rebound (Globe and Mail)
Few foreclosures, no bank failures: Canada offers lessons (Hamilton Spectator)
Real estate market faces stronger year: report (CBC)
Canadian real estate market to resemble 2010: report (CTV)
U.S. home price drops exceed Great Depression: Zillow (Financial Post)
A Record Year for Reverse Mortgages (Canadian Mortgage Trends)
Garth Turner, the Housing Crash, “Liar Loans” & More (Canadian Mortgage Trends)
No solid basis for the scary speculation (The Montreal Gazette)
Making Real Estate Easy!! ( http://wp.me/pS1hn-fF )
Vijay Gandhi from RE/MAX is dedicated to providing you with a home you’ll love to live in. Contact him as by email

From all economic indicators, it appears that higher interest rates are on the way in 2012.
What would your monthly payments be at current home prices in your neighborhood? Compare your options using CENTUM Mortgage Calculators.
Vijay Gandhi is an independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.
Have you considered a 50/50 Mortgage?
As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!
Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today! We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…
Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. To availability

Target for the Overnight Rate |Key interest rate: target for the overnight rate

Profit, Capital Gains and Losses from the Sale of Real Estate

2011-01-15T12:30:00.006-05:00

Profit, Capital Gains and Losses from the Sale of Real Estate

I am a buyer I am a seller

(Income Tax Interpretation Bulletin)

Profit, Capital Gains and Losses from the Sale of Real Estate, Including Farmland and Inherited Land and Conversion of Real Estate from Capital Property to Inventory and Vice Versa

NO: IT-218R
DATE: September 16, 1986
SUBJECT: INCOME TAX ACT
Profit, Capital Gains and Losses from the Sale of Real Estate, Including Farmland and Inherited Land and Conversion of Real Estate from Capital Property to Inventory and Vice Versa
REFERENCE: Section 9 (also subsections 13(7), 45(1) and 248(1), paragraphs 13(21)(c), 54(a), (c), (f) and (g), subparagraph 40(2)(g)(iii) and Regulations 1101(1) and 1102(1)(b))
This bulletin cancels and replaces IT-197R dated August 20, 1979 and IT-218 dated May 26, 1975 and applies with respect to taxation years commencing after the date of its issue. Please note that the comments in IT-102R concerning real property and its conversion from capital property to inventory and vice versa continue to apply to taxation years commencing on or before the date of issue of this bulletin.
1. A gain arising on the sale of real estate will be considered to be business income, property income or a capital gain. This bulletin does not deal with gains arising on the sale of real estate that is or was designated as a principal residence because such gains are dealt with in IT-120R3.
2. The word “business” is defined in subsection 248(1) so as to include, inter alia, an adventure or concern in the nature of trade. This definition can cause an isolated transaction involving real estate to be considered a business transaction. As a business, any gain or loss which arises therefrom is, by virtue of section 9, required to be included in computing income or loss, as the case may be.
3. There is no provision in the Income Tax Act which describes the circumstances in which gains from the sale of real estate are to be determined as being either income or capital. However, in making such determinations, the courts have considered factors such as those listed below: (The list is not intended to be exclusive of any other factor.)
(a) the taxpayer’s intention with respect to the real estate at the time of its purchase;
(b) feasibility of the taxpayer’s intention;
(c) geographical location and zoned use of the real estate acquired;
(d) extent to which intention carried out by the taxpayer;
(e) evidence that the taxpayer’s intention changed after purchase of the real estate;
(f) the nature of the business, profession, calling or trade of the taxpayer and associates;
(g) the extent to which borrowed money was used to finance the real estate acquisition and the terms of the financing, if any, arranged;
(h) the length of time throughout which the real estate was held by the taxpayer;
(i) the existence of persons other than the taxpayer who share interests in the real estate;
(j) the nature of the occupation of the other persons referred to in (i) above as well as their stated intentions and courses of conduct;
(k) factors which motivated the sale of the real estate;
(l) evidence that the taxpayer and/or associates had dealt extensively in real estate.
4. None of the factors listed in 3 above is conclusive in itself for the purpose of determining that a gain arising on the sale of real estate constitutes income or a capital gain. The relevance of any factor to such a determination will vary with the facts of each case.
5. A taxpayer’s intention at the time of purchase of real estate is relevant in determining whether a gain on its sale will be treated as business income or as a capital gain. It is possible for a taxpayer to have an alternate or secondary intention, at the time of acquiring real estate, of reselling it at a profit if the main or primary intention is thwarted. If this secondary intention is carried out any gain realized on the sale usually will be taxed as business income.
6. The more closely a taxpayer’s business or occupation (e.g. a builder, a real estate agent) is related to real estate transactions, the more likely it is that any gain realized by the taxpayer from such a transaction will be considered to be business income rather than a capital gain (see 3(f) and (j) above).
7. The objects as stated in the charter of a corporation often offer little assistance in determining the intention of the corporation when real estate is acquired and later sold. Consequently, in any case where a corporation claims a capital gain in respect of real estate the corporate intention relative to the acquisition and sale thereof will be examined and determined by reference to factors such as those described in 3 above. In some cases (e.g., closely-held corporations) the corporate intention may be indistinguishable from that of its officers, directors and/or shareholders and in such cases their intentions, as based on their past and present conduct with respect to real estate, will accordingly be attributed to the corporation.
8. Passive members of a partnership or syndicate will be in no different position with regard to the taxability of real estate profits than that of the active members. The actions and intentions of the active members will be imputed to the passive members.
9. When the sale of shares in a corporation by a taxpayer is merely an alternative method of realizing profits from the sale of real estate, the profits from the sale of those shares will be taxed as if the real estate itself had been sold.
I am a buyer I am a seller
Conversion of Real Estate from Capital Property to Inventory
10. Real estate that is held by its owner as capital property may be used by its owner as personal-use property (see definition in paragraph 54(f)) or it may be used for the purpose of gaining or producing income from a business or property. A sale of real estate that is capital property in the vendor’s hands will, as a general rule, give rise to a capital gain or loss, as the case may be, to the vendor (except in the case of a loss on the sale of personal-use property which is nil by virtue of the limitations of subparagraph 40(2)(g)(iii)). However, where real estate is converted from capital property to inventory as discussed in 12 and 13 below, the results will be as follows:
(a) for real estate that is personal-use property its conversion to inventory will constitute a change in use for the purposes of subsections 13(7) and 45(1) with the attendant deemed disposition and acquisition as explained in 11 below; and
(b) for real estate that is used for the purpose of gaining or producing income from a business or property, its conversion to inventory will not constitute a change in use (see also 11 below) and the proceeds from its ultimate sale will be treated in accordance with 15 below.
11. In accordance with the rules in subsections 13(7) and 45(1) property is deemed to have been disposed of for proceeds equal to its fair market value at the time when it undergoes a change in use and to have been reacquired immediately after that time for an amount equal to those same proceeds. The Department considers that the changes in use as described by subsections 13(7) and 45(1) do not include a transfer of property from one income-earning function to another such function of the same taxpayer. Accordingly, it is the Department’s position that subsections 13(7) and 45(1) do not apply where real estate that is used by its owner for the purpose of gaining or producing income from a business or property (e.g., an office building or rental property) is converted by its owner to inventory. The use (by sale) of inventory is still an income-earning function. The same rationale will apply when inventory is converted to capital property provided the property is, immediately after conversion, used by its owner for the purpose of gaining or producing income from a business or property. The comments in 12 to 19 below are predicated on the proposition that subsections 13(7) and 45(1) have no application for the reasons stated above.
12. Vacant land that is capital property used by its owner for the purpose of gaining or producing income will be considered to have been converted to inventory at the earlier of
(a) the time when the owner commences or causes the commencement of improvements thereto with a view to selling it, and
(b) the time of making application to the relevant authority for approval of a plan to subdivide the land into lots for sale, provided that the taxpayer proceeds with the development of the subdivision.
See 23 and 24 below for comments concerning farmland and inherited land.
13. The units in a multi-unit residential apartment, or an office, warehouse storage building or any similar structure that is held as capital property by the owner will be considered to have been converted to inventory at the time when application is made to the relevant authority for approval to change the title to any such building to strata title, provided that the owner proceeds with the sale of the units. See also 18 below.
14. Where the relevant authority rejects an application referred to in 12 or 13 above, and the owner thereafter sells the property en bloc, the sale will ordinarily be treated as a sale of capital property if it would have been so treated had the property been sold before the application was made.
15. Where real estate that is used for the purpose of gaining or producing income from a business or property is converted from capital property to inventory, the action of conversion does not constitute a disposition within the meaning of paragraphs 13(21)(c) and 54(c). It is, however, recognized that the ultimate sale of real estate that was so converted may give rise to a gain or loss on capital account, a gain or loss on income account or a gain or loss that is partly capital and partly income. Accordingly, where such real estate has been converted to inventory, capital gains or losses, if any, will be calculated on the basis that a notional disposition of such property occurred on the date of conversion. The amount of such a notionally determined capital gain or loss in respect of the real estate will be the difference between its adjusted cost base, as defined in paragraph 54(a), (subject to the ITAR rules for property held on December 31, 1971) and its fair market value on the date of conversion. These notional capital gains or losses will be considered to give rise to taxable capital gains or allowable capital losses for the taxation year during which the actual sale of the real estate occurs and will be required to be so reported in that same year. The amount of any income gain or loss arising on actual sale of the converted real estate will be determined in accordance with generally accepted accounting principles on the basis that its initial inventory value is its fair market value on the date of conversion. See 16 to 19 below where the use of these procedures is illustrated by examples.
16. The following examples illustrate the use of the procedures set out in 15 above for non-depreciable capital property.

	A	B	C	D
Assumptions:
Property is land Cost of property when acquired (1)	$ 1,000	$10,000	$10,000	$10,000
V day value (2)	$10,000
Fair market value at date of conversion (3)	$15,000	$15,000	$ 8,000	$ 7,500
Cost of additions made after conversion (4)	$ 4,000	$ 4,000	$ 4,000	$ 4,000
Proceeds of sale (5)	$20,000	$12,000	$ 6,000	$20,000
Notional capital gain
A(3)-(2)	$ 5,000
B(3)-(1)		$ 5,000
Notional capital loss
C(1)-(3)			$(2,000)
D (1)-(3)				$(2,500)
Income gain
A (5)-(3)-(4)	$ 1,000
D (5)-(3)-(4)				$ 8,500
Income loss
B (3) + (4) – (5)		$(7,000)
C (3) + (4) – (5)			$(6,000)
Effect for tax purposes in year of actual sale of property:
Taxable capital gain or (allowable capital loss)	$ 2,500	$ 2,500	$(1,000)	$(1,250)
Income gain or (loss)	1,000	(7,000)	(6,000)	8,500
	3,500	$(4,500)	$(7,000)	7,250

17. Where only part of a parcel of land is converted to inventory (e.g., one-half of the parcel is developed for sale as residential building lots), for the purpose of computing business income on the subsequent sale of the converted land the cost of the converted part is considered to be equal to its fair market value at the date of conversion. Similarly, where in a taxation year only part of the converted land is sold, the cost (for the purpose of computing income) of the part sold is the portion of the fair market value at the date of conversion of all the converted land as may reasonably be attributable to that part. The capital gain or loss, if any, on the sale of part or all of the converted land will be computed in accordance with 15 and 16 above.
18. The Act provides rules governing the treatment of proceeds arising on the disposition of depreciable capital property but it does not envisage the possibility that such property may be converted to inventory before its disposition. Accordingly, where, in situations such as those described in 13 above, depreciable real estate is converted to inventory, it is the Department’s position that
(a) the initial cost of the real estate for inventory valuation purposes will be its fair market value as at the time of conversion, and
(b) the ultimate sale of the real estate may give rise to results similar to those described in 15 above.
The classes of property described in Part XI and Schedule II of the Income Tax Regulations are, by virtue of paragraph 1102(1)(b) thereof, deemed not to include property that is described in a taxpayer’s inventory. Accordingly, where depreciable property (e.g., an apartment building) is converted to inventory it ceases to qualify for capital cost allowance for the taxation year during which the conversion occurs and subsequent years, but continues to have an undepreciated capital cost balance in the class of Schedule II of the Regulations to which it was assigned until its ultimate disposition, at which time the class will be credited with the lesser of the cost of the asset and its fair market value at the time of conversion to inventory.
19. To illustrate the conversion of depreciable real estate to inventory and the treatment, for tax purposes, of the proceeds of sale thereof, assume the following:

The property is a 50-suite rental apartment building which, at the time it was acquired by a taxpayer, cost, excluding land (Note (2))	$1,000,000
The undepreciated capital cost of the building as at December 31, 1982 was	900,000
The fair market value of the building when it was converted to inventory (see 13 above) on August 1, 1983 was	$2,000,000
Sales were made in 1985 of 20 suites for proceeds of	$1,200,000
and in 1986 of 30 suites for proceeds of	$2,100,000

In 1985 and 1986, the taxpayer will account for (a) capital gains realized on actual sales (in this example the notional capital gain as at August 1, 1983 was $1,000,000), (b) income from the sale after July 31, 1983 of inventory, and (c) income from the recapture of capital cost allowance, by allocating, on an average per-suite basis, the sales proceeds, cost and capital gain as follows:

	1985	1986	TOTAL
Sales proceeds – 20 suites 1985	$1,200,000		$1,200,000
- 30 suites 1986		$2,100,000	2,100,000
	$1,200,000	$2,100,000	$3,300,000
Deduct: Lesser of cost and fair market value per suite at the time of conversion to inventory, as credited to the undepreciated capital cost of the class of depreciable property to which the cost of the building was allocated (Note (1))
1985 – 20 suites at $20,000	400,000
1986 – 30 suites at $20,000	600,000		$1,000,000
	$ 800,000	$1,500,000	2,300,000
Deduct: Notional capital gain as at August 1, 1983 actually realized
in 1985: 20 x ($2,000,000 – $1,000,000)	400,000		50
in 1986: 30 x ($2,000,000 – $1,000,000)		600,000	$1,000,000
			50
Income from sale of inventory (Note (2))	$ 400,000	$ 900,000	$1,300,000
Add: Income – recapture of capital cost allowance (Note (1))		100,000	100,000
Total income excluding the taxable capital gain	$ 400,000	$1,000,000	$1,400,000
Taxable capital gain	$ 200,000	$ 300,000	$ 500,000
Total income	$ 600,000	$1,300,000	$1,900,000

Note (1): The undepreciated capital cost account for the building, assuming that it was a separate class pursuant to Regulation 1101(1), will appear as follows:

Undepreciated capital cost December 31, 1982-84	$ 900,000
Less: reduction re 1985 sales	$ 400,000
U.C.C. December 31, 1985	$ 500,000
Less: reduction re 1986 sales	$ 600,000
Recaptured capital cost allowance to be included in income under subsection 13(1)	($ 100,000)

Note (2): Although not shown in this example, the land relative to the building will, except that it is non-depreciable, be subject to the same considerations with respect to the determination of a notional capital gain, income gain, and the reporting thereof in the year of sale.
I am a buyer I am a seller
Conversion of Real Estate from Inventory to Capital Property
20. Where a taxpayer acquires real estate and allocates its cost to inventory in the taxpayer’s accounting records, such accounting treatment will be considered to represent prima facie evidence that the real estate was initially acquired with the intention of reselling it at a profit at a propitious time (see 5 to 7 above). If such real estate is vacant land, it is the Department’s position that any gain on its sale, as such, will be business income rather than a capital gain. See however, 21 below which discusses the conversion of improved land from inventory to capital.
21. A taxpayer who constructs buildings for sale and who originally intended to sell a particular building soon after it was completed may, however, permanently convert that building from inventory to capital property
(a) by establishing that the original intention to sell the building has been abandoned,
(b) by capitalizing the cost of the building and the cost of the lot (if owned by the taxpayer) upon which it sits, in the taxpayer’s financial records, and
(c) by making use of the building as a capital asset for a period of time in a manner that is more indicative of investing than trading. Examples of such uses are as follows:
(i) the rental of the building on a long term lease which does not provide the lessee with an option to purchase,
(ii) the housing of the taxpayer’s business, or
(iii) the rental of part of the building on terms described in (i) and the occupation of the remainder thereof by the taxpayer for the purpose described in (ii).
The same considerations will apply with respect to real estate, other than vacant land, that was purchased for the purpose of resale.
22. A taxpayer who constructs buildings for sale will not be considered to have converted inventory to capital property when part or all of any such building is temporarily rented for any reason. Rental revenues so received, net of expense, will be included in computing the taxpayer’s income, but since the building will, at all times, be considered to be held as inventory, it will not be eligible for capital cost allowance.
I am a buyer I am a seller
Farmland and Inherited Land
23. The sale, en bloc or piecemeal, by a taxpayer of
(a) farmland regularly used by the taxpayer for the purpose of gaining or producing income from a farming business carried on by the taxpayer, or
(b) land inherited by the taxpayer
will generally give rise to a capital gain or loss, as the case may be, to the taxpayer except where, for example, the taxpayer
(c) converts such land to a trading property (see 24 below), or
(d) acquired the land referred to in (a) with the intention of reselling it for profit at a propitious time (see 5 above).
24. Parcels of farming or inherited land referred to in 23 above may be difficult to sell en bloc and the land may be sold by subdividing it and selling the lots individually. It is the Department’s view that the filing of a subdivision plan and selling lots thereunder does not in itself affect the status of the gain notwithstanding that such subdivision may enhance the value of such land. A gain on the sale of farming or inherited land will remain a capital gain if an examination of all other facts, both before and after subdivision, establishes this to be so. However, where the taxpayer goes beyond mere subdivision of the land into lots and installs improvements such as watermains, sewers or roads, or carries on an extensive advertising campaign to sell the lots, the taxpayer will be considered to have converted the land from a capital property into a trading property. Where such a conversion occurs see 15 above for treatment of gains or losses arising from the ultimate sale of the property.
Source: http://www.cra-arc.gc.ca/E/pub/tp/it218r/README.html
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Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today!We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…
Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. to availability

Target for the Overnight Rate
Key interest rate: target for the overnight rate

Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters. *we do not represent builder/s directly.

Author is Licensed Real Estate Agent and Mortgage Agent, and provides service in the respective field only. For other services please consult right professional at your choice.

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Creating a Tax-Deductible Canadian Mortgage

2011-01-15T12:27:00.001-05:00

Creating a Tax-Deductible Canadian Mortgage- Investment Perspective

The way that mortgages are treated in the Canadian tax code is slightly different than in the U.S. One main difference is that the interest on a mortgage for a principal private residence in Canada is not tax deductible. However, no taxes are payable on any capital gains upon selling the home (Some conditions apply- see my previous article about capital gain and loss). But what if there was a way to take advantage of the capital gains exemption, and make the interest tax deductible? Keep reading to find out how to make your Canadian mortgage tax deductible.

An individual’s net worth is his or her assets minus liabilities. To increase your net worth, you must either increase your assets; decrease your liabilities, or both.
An individual’s free cash flow is the amount of cash that is left over after all expenses and debt payments have been made. To increase your cash flow, you must spend less, get a better paying job, or pay less tax. Let’s take a look at a strategy to help you increase your assets by building an investment portfolio, decrease your debts by paying off your mortgage faster, and increase your cash flow by paying less tax; effectively increasing your net worth and cash-flow simultaneously.
The Strategy
Every time you make a mortgage payment, a portion of the payment is applied to interest, while the rest is applied to principal. This principal payment adds equity to the home and can be borrowed against (often at lower rates). If the borrowed funds are then used to purchase an income-producing investment, the interest on the loan is tax deductible, which makes the effective interest rate on the loan even better.
This strategy calls for the homeowner to borrow back the principal portion of every mortgage payment, and invest it in an income-producing portfolio. Under the Canadian tax code, interest paid on monies borrowed to earn income is tax deductible. As time progresses, your total debt remains the same (as the principle payment is borrowed back each time a payment is made), but a larger portion of it becomes tax deductible debt (good debt), and less of it remains as “old” non-deductible debt (bad debt).
To explain this better, refer to Figure 1 below, where you can see that the mortgage payment of $1,106 per month consists of $612 in principal and $494 in interest.
Figure 1

As you can see, each payment reduces the amount owing on the loan by $612. After every payment, the $612 is borrowed back and invested – this keeps the total debt level at $100,000, but the portion of the loan that is tax deductible grows by each payment. You can see in Figure 1 that after one month of implementing this strategy, $99,388 is still non-deductible debt, but $612 is now tax deductible.
This strategy can be taken a step further: The tax-deductible portion of the interest paid creates an annual tax refund, which could then be used to pay down the mortgage even more (Ask your tax consultant). This mortgage payment would be 100% principal (because it is an additional payment), and could be borrowed back in entirety and invested in the same income-producing portfolio.
The steps in the strategy are repeated monthly and yearly until your mortgage is completely tax deductible. As you can see from the previous figure and the next figure, the mortgage remains constant at $100,000, however, the tax deductible portion increases each month. The investment portfolio, on the side, is growing also, by the monthly contribution and the income and capital gains that it is producing.
Figure 2

As seen in Figure 2, a fully tax deductible mortgage would occur once the last bit of principal is borrowed back and invested. The debt owed is still $100,000; however 100% of this is tax deductible now. At this point, the tax refunds that are received could be invested as well, to help increase the rate at which the investment portfolio grows.
Benefits
The goals of this strategy are to increase cash flow and assets while decreasing liabilities. This creates higher net worth for the individual implementing the strategy. In addition, this strategy also aims to help you become mortgage-free faster, and to start building an investment portfolio faster than you could have otherwise.
Let’s look at these a bit closer:
* Become Mortgage-Free Faster: The point at which you are technically mortgage free is when your investment portfolio reaches the value of your outstanding debt. This should be faster than with a traditional mortgage because the investment portfolio should be growing at the same time as you are making mortgage payments. The added mortgage payments from the tax returns can pay down the mortgage even faster.
* Build an investment portfolio while paying your house down: This is a great way to start saving. It also helps free up cash that you might otherwise not have been able to invest prior to paying off your mortgage.
Now, let’s compare a traditional mortgage to that of a person using this tax-deductible technique.
Case Studies
Dick and Jane’s House – Bought the Traditional Way
Dick and Jane bought a $200,000 home with a $100,000 mortgage amortized over 10 years at 6% with a monthly payment of $1,106. After the mortgage is paid off, they invest the $1,106 that they were paying for the next five years earning 8% annually.
After 15 years, they own their own home, and have a portfolio worth $81,156
Dick and Jane’s House – Bought Using the Tax Deductible Strategy
Dick and Jane bought a $200,000 home with a $100,000 mortgage amortized over 10 years at 6% with monthly payments of $1,106. Every month, they borrow back the principal and invest it. They also use the annual tax return that they receive from the tax deductible portion of their interest and pay off the mortgage principal. They then borrow that principal amount back and invest it. After 9.42 years, the mortgage will be 100% good debt, and will start to produce an annual tax refund of $2,340 assuming a marginal tax rate (MTR) of 39%. After 15 years, they own their own home, and have a portfolio worth $138,941 – a 71% increase.
For better understanding consult your personal tax advisor.
A Word of Caution
This strategy is not for everyone. Borrowing against your home is psychologically difficult, and if the investments don’t yield expected returns, this strategy could yield negative results. By re-borrowing the equity in your home, you are also removing your “cushion” of safety if the real estate (or investment) markets take a turn for the worse. By creating an income-producing portfolio in an unregistered account, there can also be additional tax consequences or capital gain tax on the income produced over investment – so always consult with a professional financial advisor to determine whether this strategy is for you, and if it is, have it tailor-made to you and your family’s personal financial situation.

Also refer previous blog article:
Capital Gains Tax (Summary & Web Links)

Making Real Estate Easy!! ( http://wp.me/pS1hn-fF )

Vijay Gandhi from RE/MAX is dedicated to providing you with a home you’ll love to live in. Contact him as by email
From all economic indicators, it appears that higher interest rates are on the way in 2012.
What would your monthly payments be at current home prices in your neighborhood? Compare your options using CENTUM Mortgage Calculators.
Vijay Gandhi is an independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.
Have you considered a 50/50 Mortgage?
As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!
Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today! We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…
Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. To availability

Target for the Overnight Rate
Key interest rate: target for the overnight rate

Appropriate expert advice from a Lawyer, Chartered Accountant or Tax Consultant to be /should be sought in regard to capital Gains or any legal, Tax, Financial issues and exemptions and other issues or concerns.
Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters. *we do not represent builder/s directly.
The information provided in this blog is for information purpose only; Author is not Liable for any Misuse or any other, Use the info on your risk. Please verify the codes from local and federal laws and use right professional advice in any of the matter here above or anywhere in my article.
Author is Licensed Real Estate Agent and Mortgage Agent, and provides service in the respective field only. For other services please consult right professional at your choice.
Vijay Gandhi,
Sales Representative- REALTOR^®,
RE/MAX Dynasty Realty Inc. Brokerage*
Mortgage Agent
CENTUM Metrocapp Wealth Solutions Inc., Brokerage*
C: 647. 267. 6338
(Direct-Leave Message or Text)
O: 416.335.4335 | 905.471-0002
(24x7 Page me-Have me)
F: 905.471.7441
E: vtgandhi@yahoo.com , vgandhi@remax.net
W: www.vijaygandhi.com | www.gtarealtyagent.com “YOUR PERSONAL REAL ESTATE & MORTGAGE ADVISOR^®FOR LIFE”
Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!
The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.
Please, forward my name, phone number & e-mail address to your friends, relatives, clients..

Why you should request a credit report

2011-01-15T12:23:00.001-05:00

Why you should request a credit report

Checking your credit is one of the best ways to stay on top of your financial situation. Even if you are diligent with all your finances, you should still make it a point to request a credit report at least once a year.
Credit reports accomplish three things. First, they can help you determine if there is any unknown debt in your name. For instance, your friend Misa could have used a credit report to find out about her hidden $8,000 debt. Second, they will tell you about any mistakes in your credit file — a CNN survey found that 79 per cent of credit reports reveal errors, which can have serious consequences. Third, scrutinizing your credit history can help identify if someone is trying to steal your identity.
What’s in a credit report?
Credit reports contain comprehensive information on every loan you’ve had in the past six years. You can see whether you paid your bills on time, the credit limit on each account, and how much you owe.
Each line item will also have a score, consisting of a type and rating. “R” stands for revolving credit, like a credit card, whereas “I” stands for installment account, like a mortgage. The ratings are from 0 to 9. Zero means you have no credit history, one means you pay your bills within 30 days, and nine means you have bad debt.
Each report will also list any authorized credit grantors who have accessed your credit file.
How do I check my report?
Canada has two credit reporting agencies, Equifax and TransUnion, both of which offer free and paid options to access your report. (I Guess once in year, ask them.)
The free option can be accessed by either calling Equifax at 1-800-465-7166 or by completing and mailing in a form to TransUnion. If you are in a rush to access your report, you can get an instant credit report online from either company for about $15.
What if there is a mistake?
My credit report had a line item for a credit card I thought I had cancelled six months earlier. Turns out the credit card company never cancelled the account. I called and asked them to cancel it — problem solved.
If you find an error on your credit report, both agencies offer a free credit dispute service which can be found on their websites. The credit agency will review the disputed item with the creditor and if there is an error, remove it from your report. If your report is updated, the credit agency will send you a revised report 60 days later.
If the dispute is not resolved, however, the item will remain on your credit report and you won’t be notified. You may have to resort to legal action to clear up the error. Ask/ Consult a lawyer.
Canadian credit bureau contacts, based on your province of residence:

Experian Canada	Experian Canada, Inc. 150 King Street West, Suite 805 P.O. Box 68 Toronto, Ontario, Canada M5H 1J9 Experian Canada credit report request form.
Trans Union of Canada (For all provinces except Quebec)	TransUnion Canada Consumer Relations Center PO Box 338, LCD 1 Hamilton, Ontario L8L 7W2 TransUnion credit report request form.
(For Quebec residents)	Trans Union (Echo Group) 1600 Henri Bourassa Boul Ouest Suite 200 Montreal, PQ H3M 3E2 TransUnion credit report request form.
Equifax	Equifax Canada Inc. Consumer Relations Department Box 190 Jean Talon Station Montreal, Quebec H1S 2Z2 Equifax credit report request form

Canadian credit bureau phone and address information
Identification required for free Canadian credit report by mail
To get your Canadian credit report by mail you must provide two pieces of photocopied identification, front and back. One of your identifications must show a signature. Acceptable identification includes:

Driver’s license or Provincial ID card
Birth Certificate or Passport copy
Bill statement (gas, telephone, electricity, cable)
Certificate of Indian Status
Credit Card
Citizenship Card

To receive a copy of your Consumer Disclosure report, TransUnion requires the following information: Your full name, present address, previous address (if present address is less than 2 years,) phone number (optional,) date of birth, place of employment (optional,) Social Insurance Number (optional,) and your signature.
This info. Is for the benefit of our blog subscriber and client awareness program.
Also refer previous blog article:
Capital Gains Tax (Summary & Web Links)
Making Real Estate Easy!! ( http://wp.me/pS1hn-fF )
Vijay Gandhi from RE/MAX is dedicated to providing you with a home you’ll love to live in. Contact him as by email

From all economic indicators, it appears that higher interest rates are on the way in 2012.
What would your monthly payments be at current home prices in your neighborhood? Compare your options using CENTUM Mortgage Calculators.
Vijay Gandhi is an independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.
Have you considered a 50/50 Mortgage?
As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!
Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today! We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…
Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. To availability

Target for the Overnight Rate
Key interest rate: target for the overnight rate

Please Note: Appropriate expert advice from a Lawyer, Chartered Accountant or Tax Consultant to be /should be sought in regard to capital Gains or any legal, Tax, Financial issues and exemptions and other issues or concerns. Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters. *we do not represent builder/s directly. The information provided in this blog is for information purpose only; Author is not Liable for any Misuse or any other, Use the info on your risk. Please verify the codes from local and federal laws and use right professional advice in any of the matter here above or anywhere in my article. Author is Licensed Real Estate Agent and Mortgage Agent, and provides service in the respective field only. For other services please consult right professional at your choice.

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2011-01-15T11:42:00.001-05:00

False Advertising!:Consumer Protection Act, 2002, Part III, “Unfair Practices” includes Sub-Section 14

False Advertising!Consumer Protection Act, 2002, Part III, “Unfair Practices” includes Sub-Section 14

I can’t prove it, nor can I do anything about it, but some recent “questionable” practices within our industry have left me frustrated beyond belief!
As usual, I have to change the names, numbers, and streets, but here is a story that will shed some light on how things should work when your seller turns down an offer that is over the asking price…
Allow me to put the following story into perspective…
You’re shopping at Holt Renfrew for socks. Wait, scratch that. You’re shopping at Winners for socks, and you find a super-neat-o set of ankle socks by Nautica for a lean $5.99.
You approach the cash register at the front of the store, and lay the socks on the counter. With a forced smile, the cashier rings in your future footwear and says, “That’ll be $10.16 please.”
A little confused, you ask, “I’m sorry – I thought those were $5.99?”
She replies, “Oh yeah, sorry about that…the tag says $5.99 but they’re actually $8.99. So yeah, that’ll be $10.16.”
This can’t happen, can it?
No, of course not. Because if it did, that would be a good example of a little thing called “False Advertising.”
In the Consumer Protection Act, 2002, Part III, “Unfair Practices” includes Sub-Section 14 which deals with false, misleading, or deceptive representations. Here is an example straight from The Act:
“….a representation that the goods or services are available for purchase at a specific price, when they are not.”
It’s clearly a misrepresentation if you offer a product at a given price, and then refuse to accept that price.
There are conceivably thousands of ways where prices could be misleading or misrepresented; with varying levels of “deception.”
I was once asked by a client, “How can you list a house at $399,000 and get away with it when you know it’s worth $450,000 and you’re just trying to get $480,000 for it by listing it that low?”
My honest-to-gosh answer is: “Eeek…I don’t know.”
When you hold an “offer date,” it becomes somewhat of an exception to the rule.
If there was no offer date, and you offered the sellers $399,000 and they turned it down, then we get into a massive grey area.
The Real Estate and Business Brokers Act, 2002 falls under the umbrella of the Competition Act, 1985, and as such, the real estate industry is generally monitored by the Competition Bureau and everything we do falls under The Act.
When it comes to “false advertising” in the real estate industry as it pertains to pricing, the most common example would be turning down MORE than the asking-price in a multiple offer scenario, and then subsequently re-listing the property at a price which is less than the original offer that was turned down.
As an example, if you list your property at $399,000, hoping for a windfall and $475,000, and you “only” receive three offers and a high of $450,000, you can’t turn around and try your luck again next week at $399,000. In fact, you have to re-list the property at a price that is greater than that $450,000 offer that you turned down.
Think about it: if you turned down $450,000, and you re-listed at $399,000, this would be considered false advertising since you have no intention of selling the property for that $399,000 price. Empirical evidence shows that you already turned down more!
But since REBBA falls under the Competition Act, this is actually issue of anti-competitive behaviour, and not false advertising. Well, let me clarify – this IS false advertising, but legally this falls under the jurisdiction of the Competition Act, and thus it’s deemed to be viewed as anti-competitive behaviour.

Creating a Tax-Deductible Canadian Mortgage- Investment Perspective
http://wp.me/pS1hn-fI

Here is what happened to me last weekend…
There was a house listed in the west end for $599,000 back in December, and they were set to review offers on December 12th.
On December 13th, I called the listing brokerage and the receptionist informed me that the property had been taken off the market.
Interesting…
Fast-forward to January, and the property comes back out at $599,000.
My alarm bell went off and I said, “Hold the phone – they can’t do that, it’s anti-competitive; it’s false advertising.”
Technically, I’m right. The seller looked at offers and clearly decided that the money wasn’t good enough and it wasn’t the right time of year, so they rejected all the offers and took the house off the market.
But this is where we get into a serious grey area.
The reason this action is deemed to be “anti-competitive” is because you can’t offer a product or service to one person and not another at the same price, terms, and conditions.
But what if the seller were to say, “The December offers were conditional on financing, and the offer we accepted in January wasn’t.”? Well according to the Competition Act, this would NOT be deemed anti-competitive. The product/service (in this case, the offer) has to be exactly the same in both cases.
The house that was listed at $599k ended up selling for a ridiculously way high, and I was made to feel like a loser for “only” bringing a mere 114% of the list price as per buyers range.
But did we bring such a “low” offer because the house was listed so artificially low in the first place? That’s a topic for another day.
But I was miffed because I know that the seller and the agent reviewed offers in December and turned them all down, and then had the gall to bring the property back out at the same price in January!
The unfortunate reality is that the anti-competitive actions are almost impossible to enforce.
How are you (in this case the Competition Bureau under instruction from an anonymous complainant) going to prove what offers and terms were presented and rejected back in December? How do you can access to that information?
I don’t think you can. And if you could serve the listing agent with a court order to provide a copy of all the offers that were reviewed, and then get sworn affidavits from the cooperating agents, would you really want to waste the resources?
I don’t believe there is much enforcement to this “rule,” but I could be wrong. That’s why we are real estate practicenors and not masters
I always hold out hope that there will be more accountability among Realtors as we move forward, but when I see actions like this, in addition to about ninety-nine other things that piss me off on a daily basis, it makes me realize that about 25,000 of the 28,000 Realtors in the GTA simply don’t care about the “rules”…sorry friends you know what I am pointing at.
If you have any questions/suggestion or require more information, please do not hesitate to contact me and I will be happy to assist you.

Making Real Estate Easy!! ( http://wp.me/pS1hn-fF )

Vijay Gandhi from RE/MAX is dedicated to providing you with a home you’ll love to live in. Contact him as by email

From all economic indicators, it appears that higher interest rates are on the way in 2012.
What would your monthly payments be at current home prices in your neighborhood? Compare your options using CENTUM Mortgage Calculators.
Vijay Gandhi is an independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.
Have you considered a 50/50 Mortgage?
As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!
Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today! We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…
Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. To availability

Target for the Overnight Rate
Key interest rate: target for the overnight rate

Proposed condo rules could make it harder to buy

2011-01-15T00:15:00.001-05:00

Proposed condo rules could make it harder to buy

www.condosupermarket.com

Federal government is considering new rules to make it harder to qualify for a
loan to buy a condominium.

The new regulations would be part of Ottawa's effort to toughen borrowing guidelines
and tamper down Canadians' debt.

The change would add 100 per cent of condo fees to the expenses considered when a
buyer is applying for a mortgage. Currently, only 50 per cent of the fee is
considered.

Toronto realtor Brad Lamb says the move is going to push a lot of
people out of the market.

"A lot of people are going to get locked out of buying a condo, which, in most
cities in Canada, is the most affordable option for
housing," he told CTV News. "It's a terrible idea."

The maximum length of a mortgage could also come down from 35 years to 30.

"You're talking $150 to $200 more per month, which works out to $40,000 in purchase
price," Lamb said.

Craig Alexand er with TD Bank says the new rules might not take people out of the
market completely.

"It really wouldn't take people out of the market. It would mean people would end
up taking a lower mortgage and buying a lower-priced house," he said.

Prime Minister Stephen Harper acknowledged the rumors of
the new rules.

"The government remains concerned about growth and the level of household debt, and
will look at taking prudent steps to moderate that growth," he told
reporters. "We've seen some moderation recently."

There is also speculation the government might increase the minimum down payment
required. Currently it is five per cent.

Source-http://www.ctv.ca/CTVNews/Canada/20110114/condo-rules-110114/

www.condosupermarket.com

Want to learn more on HST and how it will
affect your property, please call Vijay Gandhi

From all economic indicators, it appears that higher
interest rates are on the way in 2012.

What would your monthly payments be at current home prices in your

neighborhood? Compare your options using CENTUM
Mortgage Calculators.

Vijay Gandhi is an independent mortgage planner- industry insider &
CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage,
contact Vijay
or apply for a Mortgage Check-up to obtain the best
available rates and terms.

Have you considered a 50/50 Mortgage?

As always, if you have questions about the 50/50
mortgage product and whether it’s right for you, or other mortgage-related
questions, I’m here to help!

Whether you are planning to buy-sell-lease-invest your first home or your
investment, contact us today! We’d love to hear from you!

Please leave a detail message; I will get back to you soon as possible…

Thanks for visiting my web sites:

vijaygandhi.com
, icxforsale.com & torontomortgagetrends.com

Mortgage Rates Are At
Historical Lows. Easy OnLine
Application. Apply And Get The Best Mortgage
Rate! Variable Mortgage 2.1% 5
Years Fixed 3.49% Prime 3.00%

*condition apply/sub. To availability

Target for the Overnight Rate

Key
interest rate: target for the overnight rate

“YOUR PERSONAL REAL ESTATE & MORTGAGE ADVISOR^®FOR LIFE”

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing
appointment!

The referral of your friends & family is the greatest compliment you can
give me. Thank you for your trust.

Please, forward my name, phone number & e-mail address to your
friends, relatives, clients..

HST Transition Rules (Just to Refresh if any misunderstanding!)

2011-01-14T23:46:00.001-05:00

HST Transition Rules (Just to Refresh if any misunderstanding!)

How will HST affect the purchase or sell of your home?

The provincial government has provided rules/guidance on how it will transition to the implementation of the proposed Harmonized Sales Tax.

Background

The provincial government has implemented & combine the eight percent Provincial Sales Tax with the five percent federal Goods and Services Tax, creating a 13 percent Harmonized Sales Tax (HST) back in 2010.

The HST is NOW IN EFFECT.

The provincial government had brought the HST into effect beginning on July 1, 2010; however, note transition rules below.

1) HST will not apply on the purchase price of re-sale homes.

2) HST would apply to services such as moving cost, legal fees, home inspection fees, and REALTOR® commissions.

3) HST will apply to the purchase price of newly constructed homes. However, the Province is proposing a rebate so that new homes across all price ranges would receive a 75 per cent rebate of the provincial portion of the single sales tax on the first $400,000. For new homes under $400,000, this would mean, on average, no additional tax amount compared to the current system.

More about HST you can find in this blog by type in search

Want to learn more on HST and how it will affect your property, please call Vijay Gandhi

From all economic indicators, it appears that higher interest rates are on the way in 2012.

What would your monthly payments be at current home prices in your neighborhood? Compare your options using CENTUM Mortgage Calculators.

Vijay Gandhi is an independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.

Have you considered a 50/50 Mortgage?

As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!

Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today! We’d love to hear from you!

Please leave a detail message; I will get back to you soon as possible…

Thanks for visiting my web sites:

vijaygandhi.com , icxforsale.com & torontomortgagetrends.com

Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%

*condition apply/sub. To availability

Target for the Overnight Rate

Key interest rate: target for the overnight rate

Please Note: Appropriate expert advice from a Lawyer, Chartered Accountant or Tax Consultant to be /should be sought in regard to capital Gains or any legal, Tax, Financial issues and exemptions and other issues or concerns. Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters. *we do not represent builder/s directly. The information provided in this blog is for information purpose only; Author is not Liable for any Misuse or any other, Use the info on your risk. Please verify the codes from local and federal laws and use right professional advice in any of the matter here above or anywhere in my article. Author is Licensed Real Estate Agent and Mortgage Agent, and provides service in the respective field only. For other services please consult right professional at your choice.

“YOUR PERSONAL REAL ESTATE & MORTGAGE ADVISOR® FOR LIFE”

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!

The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.

Please, forward my name, phone number & e-mail address to your friends, relatives, clients..

EQ3 - Encore at Equinox” by Monarch

2010-03-29T21:39:00.002-04:00

EXCLUSIVE – Investment Opportunity! Condos at Scarborough Town Center (1 Week only)

March 25, 2010 ad posted by www.vijaygandhi.com

“Encore at Equinox” by Monarch

39 Storey High Class Building

Starts March 29th - 1 Week VIP Special

You get:

1. Advance Release and Pricing!

2. $5000 off Studios

$10,000 OFF 1BED/ 1BED + Den (or Solarium)

$15,000 OFF 2 BED

$20,000 OFF 2 BED + Solarium

PRIME LOCATION: Scarborough Town Centre!

Tentative Occupancy: June 2013.

(Plenty of time for investment to appreciate before closing and you save

by buying with me)

FREE PARKING + LOCKER* some units not eligible

This is an exclusive VIP access I have for 1 week only.

Before the rest of the public and all GTA agents get access.

So if you want to invest or know someone who does and want

to get the best choices and save money, you know what to do!

I don’t need to tell you to call me ASAP because you already

know Monday the selling begins and condos in prime locations

sell fast.

I’m looking forward to seeing you this weekend… give me a call to

schedule your appointment and to get more information!

contact- vijay gandhi cell- 647-267-6338 0r book th. www.vijaygandhi.com

NOTE: Only 2 Suites Allowed Per Purchaser

10-Day Cooling period where you can assign to another person for FREE.

$5000 assignments after 10 days.

Please Note: Appropriate expert advice from a Lawyer, Chartered Accountant or Tax Consultant to be /should be sought in regard to capital Gains or any legal, Tax, Financial issues and exemptions and other issues or concerns. Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters. *we do not represent builder/s directly. The information provided in this blog is for information purpose only; Author is not Liable for any Misuse or any other, Use the info on your risk. Please verify the codes from local and federal laws and use right professional advice in any of the matter here above or anywhere in my article. Author is Licensed Real Estate Agent and Mortgage Agent, and provides service in the respective field only. For other services please consult right professional at your choice.

More Canadians plan to buy a new home by 2012, says RBC

2010-03-08T22:21:00.000-05:00

More Canadians plan to buy a new home by 2012, says RBC study

Mon Mar 8, 8:34 AM

The Canadian Press

Email StoryIM StoryPrintable View.By The Canadian Press

TORONTO - A new study by the Royal Bank suggests more Canadians are very likely to buy a new home in the next two years.

Ten per cent of the 2,047 people surveyed for the 17th annual RBC home ownership study said they plan to buy a home by 2012 - up from seven per cent two years ago.

The bank says 15 per cent of those in the 18-to-24 bracket say they are very likely to buy - almost double the level recorded in 2009.

The RBC study also found that 91 per cent of Canadian homeowners believe a home is a good investment, the highest level in 12 years.

One-quarter of those surveyed, 26 per cent, said they expect their home to be their primary source of income when they retire.

In addition, 44 per cent of Canadians who plan to buy a new home in the next two years plan to take a fixed rate mortgage.

"With the Canadian housing market showing continued vigour, it's not surprising that Canadians feel more confident in the long-term value of owning a home," said RBC senior economist Robert Hogue.

"Exceptionally low mortgage rates and improved affordability have been key reasons for the resurgence in the housing market this past year."

In easy words Federal Government Changes Mortgage Rules

2010-02-17T19:11:00.002-05:00

Hello friends,

Government of Canada Takes Action to Strengthen Housing Financing

Ottawa, February 16, 2010 2010-011

The Honourable Jim Flaherty, Minister of Finance, today announced a number of measured steps to support the long-term stability of Canada's housing market and continue to encourage home ownership for Canadians.

"Canada's housing market is healthy, stable and supported by our country's solid economic fundamentals," said Minister Flaherty. "However, a key lesson of the global financial crisis is that early policy action can help prevent negative trends from developing."

The Government will therefore adjust the rules for government-backed insured mortgages as follows:

• Require that all borrowers meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term. This initiative will help Canadians prepare for higher interest rates in the future.

• Lower the maximum amount Canadians can withdraw in refinancing their mortgages to 90 per cent from 95 per cent of the value of their homes. This will help ensure home ownership is a more effective way to save.

• Require a minimum down payment of 20 per cent for government-backed mortgage insurance on non-owner-occupied properties purchased for speculation.

"There's no clear evidence of a housing bubble, but we're taking proactive, prudent and cautious steps today to help prevent one. Our Government is acting to help prevent Canadian households from getting overextended, and acting to help prevent some lenders from facilitating it," said Minister Flaherty. "If some lenders aren't willing to act themselves, we will act. These measures demonstrate the Government is committed to taking action when necessary to support the long-term stability of a sector that is so vital to our economy and the financial well-being of Canadian families."

These adjustments to the mortgage insurance guarantee framework are intended to come into force on April 19, 2010.

In easy words Federal Government Changes Mortgage Rules

February 16, 2010 -- The federal government has announced changes to the rules for government-backed insured mortgages (less than 20 percent down payment) as follows:

• All borrowers will be required to meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter terms.

• Reduced maximum amount that can be withdrawn in refinancing a government-backed insured mortgage to 90 per cent from 95 per cent of the value of the home.

• Require a minimum down payment of 20 per cent for government-backed mortgage insurance on non-owner occupied properties purchased for speculation. Borrowers purchasing owner-occupied residential properties will still be able to access government-backed mortgage insurance with a 5 per cent down payment.

Additional in detail clarifications is available as under:

CANADA'S HOUSING MARKET REMAINS STRONG

Canada's housing market remains healthy and stable. According to the International Monetary Fund, our housing market is fully supported by sound economic factors, such as low interest rates, rising incomes and a growing population. Moreover, mortgage arrears—overdue mortgage payments—have also remained low.

Today's announcement is part of the Government's policy of proactively adjusting to developments in the housing market that could take root and cause instability. These steps are timely, targeted and measured, and will reinforce the importance of Canadians borrowing responsibly and using home ownership as a savings mechanism.

MORTGAGE INSURANCE

Mortgage insurance (which is sometimes called mortgage default insurance) is a credit risk management tool that protects lenders from losses on mortgage loans. If a borrower defaults on a mortgage, and the proceeds from the foreclosure of the property are insufficient to cover the resulting loss, the lender submits a claim to the mortgage insurer to recover its losses.

The law requires federally regulated lenders to obtain mortgage insurance on loans in which the homebuyer has made a down payment of less than 20 per cent of the purchase price (also called high loan-to-value ratio loans). The homebuyer pays the premium for this insurance, which protects the lender if the homebuyer defaults.

The Government ultimately backs most insured mortgages in Canada. It is responsible for the obligations of Canada Mortgage and Housing Corporation (CMHC) as it is an agent Crown corporation. In order for private mortgage insurers to compete with CMHC, the Government backs private mortgage insurers' obligations to lenders, subject to a deductible equal to 10 per cent of the original principal amount of the loan.

In October 2008, the Government adjusted its minimum standards for government-backed, high-ratio mortgages, including:

• Fixing the maximum amortization period for new government-backed mortgages to 35 years.

• Requiring a minimum down payment of five per cent for new government-backed mortgages.

• Establishing a consistent minimum credit score requirement.

• Requiring the lender to make a reasonable effort to verify that the borrower can afford the loan payment.

• Introducing new loan documentation standards to ensure that there is evidence of reasonableness of property value and of the borrower's sources and level of income.

MEASURES ANNOUNCED TODAY in detail

Today, the Government announced three changes to the standards governing government-backed mortgages.

QUALIFYING AT A FIVE-YEAR RATE

Current interest rates are at record low levels, which has improved the affordability of housing for Canadians. It is important that Canadians borrow prudently and are able to manage their debt loads when interest rates rise.

Lender and mortgage insurers look at two key ratios when assessing the ability of a borrower to make payments on a mortgage loan:

Gross Debt Service (GDS) ratio—the ratio of the carrying costs of the home, including the mortgage payment, taxes and heating costs, to the borrower's income.

Total Debt Service (TDS) ratio—the ratio of the carrying costs of the home and all other debt payments to the borrower's total income.

Currently, the interest rate used to determine the mortgage payment for these calculations is either the rate fixed for the term of the mortgage or, in the case of a variable-rate mortgage and mortgages with terms of less than three years, the greater of the contract rate and the prevailing three-year fixed rate.

The adjustments to the mortgage framework will require mortgage insurers to ensure that borrowers qualify for their mortgage amount using the greater of the contract rate or the interest rate for a five-year fixed rate mortgage when calculating the GDS and TDS ratios.

This measure is intended to protect Canadians by providing them with additional flexibility to support mortgage payments at higher interest rates in the future.

Limit the Maximum Refinancing Amount to 90 per cent of the Loan-to-Value Ratio

Borrowers seeking financial flexibility can currently refinance their mortgage and increase the amount they are borrowing on the security of their home up to a limit of 95 per cent of the value of the property. This type of refinancing lowers the borrower's equity in their home. The adjustments today will lower the maximum amount of the mortgage loan in a refinancing of a government-backed high ratio mortgage loan to 90 per cent of the value of the property, consistent with the principle that home ownership is a tool for savings.

Discouraging Speculation by Requiring a Minimum Down Payment of 20 per cent for non-owner-occupied properties

This measure will require a minimum down payment of 20 per cent for government-backed mortgage insurance on non-owner-occupied properties purchased for speculation. Currently, borrowers may purchase a residential property with a 5 per cent down payment. Today's change will require a 20 per cent down payment for small (i.e., 1- to 4-unit) non-owner-occupied residential rental properties. Borrowers purchasing owner-occupied residential properties which also include some rental units (e.g., borrowers purchasing a duplex to live in one unit and rent out the other) will still be able to access government-backed mortgage insurance with a 5 per cent down payment.

Data source:

• TREB

• http://www.fin.gc.ca/n10/data/10-011_1-eng.asp

THIS INFO IS FOR GENERAL UNDERSTANDING , FOR MORE DETAILS CONTACT

Thank you very much for visiting my web site and blog.

Best Regards,

Please Note: Appropriate expert advice from a Lawyer, Chartered Accountant or Tax Consultant to be /should be sought in regard to capital Gains or any legal, Tax, Financial issues and exemptions and other issues or concerns. Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters. *we do not represent builder/s directly. The information provided in this blog is for information purpose only; Author is not Liable for any Misuse or any other, Use the info on your risk. Please verify the codes from local and federal laws and use right professional advice in any of the matter here above or anywhere in my article. Author is Licensed Real Estate Agent and Mortgage Agent, and provides service in the respective field only. For other services please consult right professional at your choice.

"YOUR PERSONAL...REALTOR® FOR LIFE"

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!
The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.
Please, forward my name, phone number & e-mail address to your friends, relatives, clients.. They will be appreciative for it, I promise.

Home Buyers' Plan (HBP) & RRSP

2010-02-11T18:44:00.000-05:00

Hello friends,

Greetings again..welcome back to new hot topic of RRSP usability of the Home Buyers' Plan (HBP)
Here are some link and information to be more precise, pl find out from CRA SITE or call me if I can be help..

Home Buyers' Plan (HBP) & RRSP

The Home Buyers' Plan (HBP) is a program that allows you to withdraw up to $25,000 (after January 27, 2009), from your registered retirement savings plan (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability .

Click on one of the topics below to learn more about the HBP.

Topics about Home Buyers plan

Conditions
Conditions that have to be met before you can withdraw funds from your RRSPs under the Home Buyers' Plan

Participating
How to participate in the Home Buyers' Plan

Canceling
How to cancel your participation in the Home Buyers' Plan

Repayments
How to repay withdrawals made under the Home Buyers' Plan

Special circumstances
What if the participant dies, becomes a non-resident, or reaches the age of 71

Questions and answers

Important dates

Forms and Publications

• Guide RC4135, Home Buyers' Plan (HBP)

• Form T1036, Home Buyers' Plan (HBP) - Request to Withdraw Funds From an RRSP

• Schedule 7, RRSP Unused Contributions, Transfers, and HBP or LLP Activities

Thank you very much for visiting my web site and blog.

Best Regards,

Vijay Gandhi,
Sales Representative- REALTOR®,
RE/MAX Dynasty Realty Inc. Brokerage*
C: 647-267-6338 (Direct-Leave message or text)
O: 416-335-4335/905-471-0002 (page me-Have me)
F: 905-471-7441
E-MAIL: vtgandhi@yahoo.com , vgandhi@remax.net
WEB: www.vijaygandhi.com, www.gtarealtyagent.com

"YOUR PERSONAL...REALTOR® FOR LIFE"

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!
The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.
Please, forward my name, phone number & e-mail address to your friends, relatives, clients.. They will be appreciative for it, I promise.

First-time home buyers' tax credit

2010-02-09T18:13:00.000-05:00

First-time home buyers' tax credit

http://www.cra-arc.gc.ca/nwsrm/fctshts/2010/m01/fs100121-eng.html

The HBTC is a non-refundable tax credit for certain homebuyers who acquire a qualifying home after January 27, 2009, that is - closing after this date.

For 2009, the credit will be $750.

Who is eligible for the HBTC?

You will qualify for the HBTC if:
- You or your spouse or common-law partners acquire a qualifying home;
- You did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years.

What is a qualifying home?

A qualifying home is a housing unit located in Canada. This includes existing homes and those being constructed. Single-family homes, semi-detached homes, townhouses, mobile homes, condominium units, as well as apartments in duplexes, triplexes, fourplexes and apartment buildings all qualify. A share in a co-operative housing corporation that entitles you to possess, and gives you an equity interest in, a housing unit located in Canada also qualifies. However, a share that only provides you with a right to tenancy in the housing unit does not qualify.
As well, you must intend to occupy the home or you must intend that the related person with a disability occupy the home as a principal place of residence no later than one year after buying it.

Best Regards,

Vijay Gandhi,
Sales Representative- REALTOR®,
RE/MAX Dynasty Realty Inc. Brokerage*
C: 647-267-6338 (Direct-Leave message or text)
O: 416-335-4335/905-471-0002 (page me-Have me)
F: 905-471-7441
E-MAIL: vtgandhi@yahoo.com , vgandhi@remax.net
WEB: www.vijaygandhi.com, www.gtarealtyagent.com
"YOUR PERSONAL...REALTOR® FOR LIFE"

Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!

The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.

Please, forward my name, phone number & e-mail address to your friends, relatives, clients….. They will be appreciative for it, I promise.

NO NEED TO PANIC!

2010-02-06T20:35:00.001-05:00

NO NEED TO PANIC!
WHY YOU SHOULDN’T REACT OVER EVERY REAL ESTATE REPORT THAT HITS THE NEWS ...
The headlines in the recent media coverage were certainly scary enough: Home ownership more expensive in the last quarter of 2009 and beginning of the new year; underwater mortgage dog housing sector; market rebound presents new risks, Economic recovery underway but system still fragile. And so on and on. Anyone reading these reports might be spooked into taking action, weather it’s buying before you’re ready or taking on mortgage that may not be best deal for you could get or buying before selling or visa versa...

As a recent or prospective home owner, the last thing you should do is allow such media report to just influence your decision making process and make it informed.
In many cases, these stories are based on big pictures and reports that discuss national trends and averages. When you buy a home, however you do not buy the entire Canadian market. You don’t even buy provincial, regional or even city-wide ones. You buy just one property in a particular area of a city or town.

There’s a big difference. What happens in one neighbourhood may be completely different from what what’s going on in another in the same city, or from one street to another or next one and, of course ,from house to house. If you’re looking to buy a home in Toronto for example, what do you care that the national average home price may be increasing or decreasing, influenced by things going on in market that are completely irreverent to yours? May be TREB statistics can be more helpful in those cases. Or lets say if you are buying in Hamilton, Windsor or Oshawa - the provincial average is down because the housing market has been hammered during the recession and obsolesces, thanks to troubled auto industry?

The fact is, real estate markets are specific. Most people base their decision on where to buy largely on where they work and where they want to live, within a reasonable commute, and of course weighing their option for housing types and prices.

Another major consideration should be the underlying economical fundamentals of an area over the long term, say about five years. When one big plant is closed in the area, no doubt there are lots of media reports predicting dooms and glooms of the city, sending home owners in to panic to sell their properties and head for greener pastures. Informed clients-agents, or prospective buyers, on the other hand, would have known the city can see other upcoming development & projects and economics of shifting of balance. Making the new corrected weight replacement of old economical engine of growth at rise.
The point then is to become as well informed as possible, so you can decipher misleading reports from you really should pay attention to.
Part of that is understanding of the original source of housing reports. It is a credible media outlet that you believe truly understands real estate? Is it a realty, which has vested interest in real estate transactions? Or is it from an objective third party that has absolutely nothing to do or gain with or from its conclusions, good or bad and that is not trying to sell- or buy- anything?
One great source of info resource is Canada mortgage and housing corp.(CMHC),the federal govt. agency you may know mostly as a body that provides high ratio mortgages insurances. They produce excellent report and dig deep before and analyze for the factors that impact housing trends.

And even when your particular area may be affected by a “downturn”, remember to look at the big picture, long term. Lets say you own a home in Toronto worth $ 300,000 and a report warns that average price in the city are off 10%, or $30,000 in your case, reducing your value to $ 270,000. but if you bought the property five year ago for $ 200,000, the value had already increased 50% to reach $ 300,000. so, in reality, your “market” is not down 10%,its actually up 35%.

So, next time when the “scary” report comes out, make sure you have done your home work and you know whether its cause for concern, celebration or just something to absorb as part of your ongoing education as a homeowner.

For further understanding and to find out current value of the property call me and I will be more then delight to help you for your real estate needs

Vijay Gandhi,
Sales Representative- REALTOR®,
RE/MAX Dynasty Realty Inc. Brokerage*
C: 647-267-6338
O: 416-335-4335/905-471-0002
F: 905-471-7441
E-MAIL: vgandhi@remax.net
www.vijaygandhi.com

gtarealtyagent

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