Home Re-sale Market (GTA - TREB areas)

GTA Resale Market Resilient in 2009. Average price of $395,460 in 2009

Comparison of Home Prices in 2006-2009

Average Price History

2009	2008	2007	1998	1988	1978
$395,460	$379,347	$376,236	$216,815	$229,63	$67,333

Here is complete report on real estate market activity in GTA area..

Real Estate News Headlines

<>The condo market is looking up for 2010 - YourHome.ca Wed Dec 30 2009
<>Are you ready for higher mortgage rates? - Globe and Mail 2010-01-11
<>Housing set to really juice economy in spring - Financial Post 2009-12-17
<>CMHC expects housing rebound to continue - Financial Post 2009-11-02
<>Don’t expect rubber-stamped mortgage approvals anymore- National Post 2009-10-21

Should You Buy a New or Existing Home?

Buyers have so many choices these days. But after narrowing down the location and selecting the type of home you want to purchase (single-family or condo) , there’s one more decision to make: Should you buy a new home or an existing one? The answer depends upon both your budget and lifestyle.

Open up your local newspaper on any given day, and you’re likely to see ads from builders touting concessions such as free closing costs, upgraded cabinets and floorings, or options thrown in that can be worth thousands of dollars. The ads are enticing, and bargains can be had. But purchasing a new home is a major investment in time, as well as money. You’ll have to start decorating from square one, with paint and window treatments. You may need to install carpet. And if you’re looking for lush landscaping, you’ll have to wait for newly-planted foliage to grow in.

In addition, many new-home subdivisions are located on the outskirts of metropolitan areas, so be prepared to drive to jobs, schools and shopping.

Bargains on existing homes are available in many markets as well. An existing home that fits your tastes can save you time and money. There may be no need to purchase window treatments. The landscaping will be mature. And the costs of an existing home—such as utilities and taxes—are well established and easily known, while the real monthly costs on a new home are yet to be established.

Also, keep in mind that newly constructed homes prices will be affected once the HST takes effect on July 1, 2010. To understand how this new tax will change your total costs or to find your perfect new home, contact us today!

HST Countdown Continues..

Harmonized Sales Tax (HST) takes effect July 1st, 2010. All real estate transactions closing on and after this date will have 13% HST tax applied . If you buy or sell a property after HST takes effect, you pay 8% more tax than now. This could result in significant increase in cost to you as buyer or seller.

Winter Home Maintenance Tip

*Add weather stripping and caulking to doors and windows to prevent draft.
*Install carbon monoxide detectors.
*Check bathtubs for needed repairs. Re-grout all bathtubs and showers to prevent leaks.
*Keep snow clear of gas meters, gas appliance vents, exhaust vents and basement windows.
*Clean humidifier two or three times during the winter season.
*Check and clean or replace furnace air filters each month during the heating season.
*Examine windows and doors for ice accumulation or cold air leaks. If found, make a note to repair or replace in the spring.

"All worthy goals are possible"