Richard Silver

Harmonized Sales Tax: Did you know?

Here is some great information that was sent to me from Rachel at the Ministry of Revenue about the new HST. It gives you the HST and Real Estate in a nutshell: About 93 per cent of all homes sold in Ontario are not subject to an additional tax amount under the HST.  It’s important to note, the HST is not charged on resale homes.   (more...)Continue Reading...

Neighborhoods: Bloor West Village

Once considered staid and conservative, this thriving village now boasts a hot European-style shopping district. You can find anything and anyone walking the high street, enjoying the bakeries, restaurants, gyms, shops and community events.   Founded in the early 1900s, the housing stock is detached homes on larger lots with big gardens, similar to the Beach (and equidistant from Yonge St). Some multi-family homes exist as part of a European extended family tradition. You’d best be handy with a rake and...Continue Reading...

Toronto Area REALTORS® Report September Resale Housing Market Figures

Here is a very interesting report from the Toronto Real Estate Board . Interesting to note that although the market has slowed recently, we are still looking at a busy 2010 taking the whole year into account. Also Media reports of the high prices are not taking into account almost the lowest "affordability factor" that Toronto has ever seen... TORONTO, October 5, 2010 -- Greater Toronto REALTORS® reported 6,310 sales through the Multiple Listing Service® (MLS®) in September 2010. This represented a...Continue Reading...

Toronto Area REALTORS® Clarify the Harmonized Sales Tax!

Here is a recent Press Release on the HST from the Toronto Real Estate Board...make sure you check out the video when you click on Toronto Real Estate Board! TORONTO, October 5, 2010 -- Concerned that homebuyers are uncertain about the Harmonized Sales Tax’s (HST) applicability on real estate purchases, Greater Toronto REALTORS® are reaching out to consumers to eliminate misconceptions. Using social media channels and an ongoing series of newspaper columns, the Toronto Real Estate Board (TREB)  is conveying to consumers...Continue Reading...

Toronto Area REALTORS® Report Mid-Month Resale Housing Figures For September 2010.

TORONTO, September 16, 2010 - Greater Toronto REALTORS® reported 2,623 sales through the Multiple Listing Service® (MLS®) during the first two weeks of September 2010. This represented a 22 per cent decrease compared to the 3,361 sales recorded during the same period in 2009. Year-to-date sales amounted to 65,455, representing a six per cent increase compared to 2009. “Sales remain below the record pace we experienced in the second half of 2009. The prospect of higher interest rates and new mortgage...Continue Reading...

Toronto Condominium Market: September 2010.

We had a great meeting this morning at the Toronto Condo Network by Jason Mercer, Senior Market Analyst with the Toronto Real Estate Board. He gave us some great statistics to look at of note, in Central Toronto, condominiums are 60% of the sales activity, but the suburbs are growing quickly. Please remember that back in the early 80's, the Condominium market would have been at about 5% of Sales.... Have a read through this presentation and feel free to ask...Continue Reading...

Toronto Real Estate Board: C.D. Howe Commentary

Here is a commentary from TREB  about a study by the C.D. Howe Institute . It points to the misconception that the Canadian Real Estate Market is doomed to follow the U.S. Real Estate market in the next few months. Here are their thoughts: (more...)Continue Reading...

Toronto Neighbourhoods: Parkdale.

Years ago, when I was starting my real estate career and you were not even born (yes, that long ago) the “up-and-coming” neighbourhood talked about as the next Cabbagetown  was Parkdale . I checked Parkdale out at the time, loved the great Victorian houses, liked the reasonable prices and saw great potential as a neighbourhood. I showed those houses, sold some of them, and have been waiting for years for the area to really soar. I’m still waiting. Entry to the Parkdale market...Continue Reading...

Toronto Area REALTORS® Report Monthly Resale Housing Figures

September 3, 2010 ‐ Greater Toronto REALTORS® reported 6,232 sales through the Multiple Listing Service ® (MLS®) in August 2010. This represented a 22 per cent decrease compared to the 8,035 sales recorded during the same period in 2009. New listings decreased by one per cent year-over-year to 10,488. “The prospect of interest rate hikes and new mortgage lending rules prompted some households to purchase a home sooner than they otherwise would have this year. The result has been a larger than...Continue Reading...

Teranet-National Bank National Composite House Price Index™.

Teranet  and the National Bank of Canada   joined together about one year ago to produce this House Price Index  of major centres across Canada. Please remember that it only reflects the large centres and is comprehensive for those living in those centres but would not reflect a vision of Canada as a whole. I get these newsletters monthly and you can subscribe to them at www.housepriceindex.ca. Teranet's data is from Land Registry systems across Canada so also reflects all transactions, not just...Continue Reading...