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1percent Power-of-Sale 1 Whisper What-Is-My-Home-Worth-Now

10 overlooked tips for getting a property sold

September 4, 2015
Sold-1074x483

By Christine Rae Buyers have choices. They make decisions about a property within a blink of an eye. Here are ten overlooked tips for getting a property sold. Don’t get personal Whether working with a professional stager or going it alone, cut all emotional ties. Visit each room, remember the memories and then pack the sentimentality away. It clouds judgement. Don’t look at your house from the perspective of it being yours, or this is who we are – buyers aren’t interested. Remove and store as many personal items as possible including all family photos, certificates, diplomas and medicine. Pack and store/dispose of two-thirds of every closet and cupboard It is a great time to start deciding what you want to keep/donate/discard. Organized storage space is one of the most frequently requested interior features. First impressions are the only ones that count  Buyers have choices. They make decisions about a property within a blink of an eye. Wherever the eye rests the sale begins. Understand staging is about condition more than décor Sure the house has to look and feel...
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Know Your Home & What’s In It

August 26, 2015

What Is A GFCI (Ground Fault Circuit Interrupter)?

How Do I Reset A Ground Fault Circuit Interrupter (GFCI)?

 

 

what is a gfci home safety where is the reset button on a gfci

GFCI

 

GFCI stands for Ground Fault Circuit Interrupter or RCD

which is a Residual Current Device. 

These devices are used to shut off an electrical current or power when the electrical current is flowing along an unintended path.

For example a GFCI or RCD will shut off if a power current is flowing through water.

After the power is interrupted it can be reset manually to allow the flow of power again naturally.

See above an example of a GFCI power receptacle.

 

Record Sales in April 2015

May 7, 2015

– Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 11,303 sales in April 2015. This was the highest sales result on record for the month of April and represented a 17 per cent increase in comparison to April 2014. While sales increased strongly on a year-over-year basis, new listings were up over the same period by a more moderate five per cent. “The record April result clearly points to the fact that a growing number of GTA households view ownership housing as a high quality, long-term investment. This is evidenced by the strong sales growth we have experienced in Toronto and surrounding regions for all major home types. Firsttime buyers and existing homeowners remain very active in today’s market,” said Mr.Etherington. The overall average selling price, which accounts for all homes reported sold by GTA REALTORS® in April 2015, was up by 10 per cent year-over-year to $635,932. The MLS® Home Price Index (HPI) Composite Benchmark, which estimates the price of a benchmark home with the same attributes from one period to the next,...
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Comments on Bank Of Canada Rate Hold

March 4, 2015

- Bank of Canada last met in January 2015 and reduced the Prime Rate from 3.00% to 2.85% – Bank of Canada met again this morning to discuss further changes to rates and decided to leave interest rates unchanged – there is the possibility of another rate cut in the coming months, maybe as soon as April 15, 2015, the Bank of Canada’s next scheduled meeting. Dr. Sherry Cooper, Chief Economist for Dominion Lending Centres (DLC) was expecting the Bank of Canada to leave interest rates unchanged today in the wake of the surprising rate cut in late January. Governor Stephen Poloz signaled this wait-and-see stance last week, following criticism that his surprise move had destabilized financial markets, thwarting the Bank’s efforts to boost economic activity. “The Bank has become increasingly concerned about the dampening impact of the plunge in oil prices on business capital spending and production in the oil sector—a key component of Canadian economic expansion in the past,” said Dr. Cooper. Recent layoff announcements in the oil patch exacerbate this concern. “For now, core inflation in Canada...
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Strong Start to 2015

February 10, 2015

– Toronto Real Estate Board President Paul Etherington announced a strong start to 2015, with robust year-over-year sales and average price growth in January. Greater Toronto Area REALTORS® reported 4,355 home sales through the TorontoMLS system during the first month of the year. This result represented a 6.1 per cent increase over January 2014. During the same period, new listings were up by 9.5 per cent. “The January results represented good news on multiple fronts. First, strong sales growth suggests home buyers continue to see housing as a quality long-term investment, despite the recent period of economic uncertainty. Second, the fact that new listings grew at a faster pace than sales suggests that it has become easier for some people to find a home that meets their needs,” said Mr. Etherington. The average selling price for January 2015 home sales was up by 4.9 per cent year-overyear to $552,575. The MLS® Home Price Index (HPI) Composite benchmark was up by 7.5 percent compared to January 2014. “Home price growth is forecast to continue in 2015. Lower borrowing costs will largely...
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How to tell fact from fiction: Real Estate Council of Ontario survey finds many home buyers and sellers have more to learn about the real estate process

November 5, 2014

TORONTO, Nov. 5, 2014 /CNW/ – A new survey by the Real Estate Council of Ontario (RECO) reveals 41 per cent ofOntario homeowners and 45 per cent of first-time homebuyers wish they had done something differently when buying or selling their home. Among things buyers/sellers reported wishing they had approached differently when purchasing or selling their home was having a better grasp of the process (buying process: 26%; selling process 12%), seeing more houses (buying process: 21%), having a home inspection (buying process: 15%), spending more time researching and interviewing real estate professionals before selecting one (selling process: 9%), and understanding the contracts involved better (buying process: 14%; selling process: 9%). “Buying or selling a home can seem confusing and stressful to many—but there are steps everyone can take to make the process easier, and more satisfying, including brushing up on the basics, doing some homework, asking the right questions, and working with a registered real estate professional,” says RECO Registrar Joseph Richer. A further 32 per cent of first-time homebuyers reported that they did not feel prepared and knowledgeable about the process, and only...
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November 2, 2014

Be Aware Of Extra Costs When Moving

September 18, 2014
Be Aware Of Extra Costs When Moving

Given the fact that tens of thousands of homes change hands throughout the Greater Toronto Area each year, it’s easy to forget that buying a home is a complex process to which the phrase “the devil’s in the details” aptly applies. It is one of the many reasons why each year close to 200,000 homebuyers and sellers choose to work with a Greater Toronto REALTOR®, who can offer advice on all of the details that are important to keep in mind, from protecting your interests with offer clauses to changing the locks once the process is complete. According to Statistics Canada’s 2011 study ‘Homeownership and Shelter Costs in Canada’ approximately 25 per cent of Canadians spent one-third or more of their income on shelter, and our city’s average monthly shelter costs were the nation’s highest at $1,366 that year. As such, in addition to preparing for some of the standard expenses involved in a real estate transaction such as moving and legal services, it’s wise to set aside extra funds for a number of other homeownership costs you may not...
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Toronto MLS Housing Report

September 18, 2014
Canadian Money

TORONTO, September 16, 2014 – Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 3,297 sales through the TorontoMLS system during the first 14 days of September 2014. This result represented an 8.3 per cent increase compared to the same period in 2013. Year-to-date sales through September 14, at 68,731, were up by 6.6 per cent compared to the same period in 2013. “The sales result for the first two weeks of September showed strong growth for most major home types, indicating that home buyers continue to find homes that meet their needs and budgets. With a lot of buyers active in the marketplace relative to the number of homes for sale, average selling prices were up strongly for most low-rise and high-rise home ownership options,” said Mr. Etherington. The average selling price for September mid-month sales was $555,890, which represented an increase of 8.1 per cent compared to the average price for the first two weeks of September 2013. Average price growth was strongest for single-detached and semi-detached homes. The average year-to-date selling price was...
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Radon is a silent killer

September 12, 2014
Radon is a silent killer

There are many things about a home’s condition that even a first-time home buyer naturally considers before the deed is signed. Water damage. Structural integrity. Faulty wiring. Cracks, stains and warping of surfaces. Faced with an already lengthy list of obvious and visible architectural flaws to look for, it’s not surprising that something like air quality is rarely at the forefront of a homebuyer’s mind. But it should be and radon is why. The radioactive gaseous result of uranium breaking down into soil, water or rock, radon can enter the home through cracks and holes in the foundation, support posts, floor drains, construction joints and other entry points. Measured in Becquerels per cubic meter (Bq/m3), radon exists in low levels in most environments, with an average outdoor level of 10 Bq/m3 and indoor level of 45 Bq/m3, a difference explained by the build-up of radon that confined spaces allow. But it’s when levels reach the government’s guideline of 200 Bq/m3 that homeowners need to take action. According to Health Canada, radon is second only to smoking as the leading cause...
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GTA Real Estate Market Reports Q2

July 23, 2014

GTA REALTORS® Report Q2 Condo Market Figures  July 18, 2014 — Toronto Real Estate Board President Paul Etherington announced robust results for the condominium apartment market in the second quarter of 2014. Q2 sales were up by 10.4 per cent compared to the same period in 2013. New listings were up over the same period, but by a lesser 4.4 per cent. • Click here for complete Condo Market Report  GTA REALTORS® Report Q2 Rental Market Figures  July 18, 2014 — Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 7,342 rental transactions through the TorontoMLS system in the second quarter of 2014. This result was up by 25.7 per cent compared to Q2 2013. The number of units listed for rent in the second quarter was up by 22.2 per cent on a year-over-year basis to 12,510. • Click here for complete Rental Market Report  GTA REALTORS® Report Mid-Month Resale Housing Market Figures  July 16, 2014 — Toronto Real Estate Board President Paul Etherington announced that TorontoMLS home sales through the first 14 days of July 2014 were...
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GTA REALTORS® REPORT Q2 CONDO MARKET FIGURES

July 18, 2014

  TORONTO, July 18, 2014 — Toronto Real Estate Board President Paul Etherington announced robust results for the condominium apartment market in the second quarter of 2014.  Q2 sales were up by 10.4 per cent compared to the same period in 2013.  New listings were up over the same period, but by a lesser 4.4 per cent. “Condominium apartments represent an affordable entry point into the market for first time buyers.  On top of this, some condo properties cater to households looking to move out of their traditional low-rise home, and we are increasingly seeing households choose condos as the place where they will raise a family.  This diversity of buyers explains why sales more than kept up with increased listings in the second quarter,” said Toronto Real Estate Board President Paul Etherington. The average selling price for condominium apartments in the second quarter was up by 5.5 per cent year-over-year to $367,010.  In the City of Toronto, which accounted for 71 per cent of total sales, the average selling price was $392,739, representing an increase of 5.3 per cent....
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TREB Market Watch – June 2014

July 10, 2014

CMHC announces more mortgage insurance changes

June 18, 2014
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Canada Mortgage and Housing Corp. (CMHC) has discontinued its mortgage loan insurance for the financing of multi-unit condominium construction. The federal housing agency also announced that it has established maximum house prices, amortization periods and debt servicing ratios for its low-ratio transactional mortgage loan insurance product, effective July 31. CMHC says, “The changes are a business decision designed to increase market discipline in residential lending while reducing taxpayers’ exposure to the housing sector through CMHC. They are not changes to the government’s mortgage loan insurance parameters and do not apply to private mortgage insurers’ products and services.” CMHC introduced its multi-unit condominium construction product in 2010 to assist developers to access insured financing during the construction phase of condominium projects. It says that demand for the product has been low and that CMHC has not provided any insurance for multi-unit condominium construction since 2011. The agency says its insurance for mortgage loans to homebuyers wishing to purchase a condominium is unaffected by this change and will remain available throughout Canada. “The changes to CMHC’s low-ratio insurance align this product with...
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COMMERCIAL REALTORS REPORT LATEST COMMERCIAL MARKET FIGURES

June 6, 2014

Toronto Real Estate Board Commercial Network Members reported 639,878 square feet of combined industrial, commercial/retail and office space leased through the TorontoMLS system in May 2014, on a per square foot net basis where pricing was disclosed. This result was up from 436,433 square feet leased in May 2013 and represented a 47 per cent increase on a year-over-year basis, which was driven by all major market segments. The industrial leasing market segment accounted for approximately 72 per cent of space leased. The average lease rate for these transactions was up by 1.5 per cent to $5.30 per square foot net. The commercial/retail and office segments experienced stronger average rates of growth, but a lot of this growth was compositional in nature, including a different mix of unit sizes and geography of transactions compared to May 2013. “Despite slower than expected economic growth to start 2014, we experienced a considerable uptick in the amount of space leased. The consensus view is that the slow first quarter GDP growth in Canada and south of the border was mainly due to extreme...
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