MyStClair.com - Community Awarness

For those living or thinking of buying in the Bathurst and St. Clair area, this is a great site that will keep you updated in the current community activities and events for the entire family. There is an excellent directory of business's which also includes specials that some business' may have. You may also sign up for newsletters to help keep you informed.

It is good practise to know your home area or the one you are considering to buy into. There are many locations in Toronto to buy real estate but not all of them may cater to your family's needs or lifestyle. This kind of diversity is what makes Toronto unique and makes me proud to live here!

Link: My St. Clair (http://www.mystclair.com)

Resale Housing Market Still Healthy, Experts Say at Toronto Real Estate Board Meeting

Heres some additional positive information regarding the currents state of the Toronto real estate resale housing market.

Gian-Piero

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Source: The Toronto Real Estate Board

October 28, 2008

More than 1,100 Greater Toronto REALTORS® gathered to hear Canada’s top experts talk about the future of the housing market at the Toronto Real Estate Board’s 88th Annual General Meeting October 27th.

Much of their discussion was focused on current market conditions, with panelists attributing a recent dip in the GTA resale housing market to waning consumer confidence.

“People are mislead by the media,” said Living Realty’s Stephen Wong. “We don’t have a problem; it’s being self-inflicted.”

Panelists also agreed that while a return to robust conditions may not be seen until 2010, the market continues to be balanced and supported by the economic fundamentals of strong employment and immigration, and historically low interest rates.

In addition, Royal LePage’s Phil Soper noted that unlike other major cities, the GTA has not experienced artificially inflated house prices.

“We’re going through a time of general economic malaise but it is not going to be prolonged and in the housing market we’re not going to see a reset because it wasn’t off in the first place,” he said.

TREB President Maureen O’Neill’s speech focused on raising the bar with respect to professionalism, an idea that was echoed by Michael Polzler of RE/MAX Ontario-Atlantic.

“This is a time for professional REALTORS® who know the business and all aspects of it, to lead people through complicated transactions,” he said.

Panelists concluded their discussion by pledging to support organized real estate’s lobbying efforts against unrealistic regulatory expectations and unfair taxes, like the Toronto Land Transfer Tax.

“This event’s incredible turnout demonstrates REALTORS’® genuine desire to continuously improve in order to provide the highest level of service to their clients,” said Ms. O’Neill. “We’re also delighted to have received the full support of Canada’s largest real estate companies as we continue our efforts to advocate on behalf of GTA property owners.”

What About The Toronto Housing Market?

One of the most challenging topics I face as a realtor these days are defencing the current Toronto real estate market in the face of a global economic crisis. It is important to differentiate between global economies, and local economies. Real estate is a local market and is not directly effected by global controls. This mean the adage if the States gets a cold, Canada blows it's nose may ring true for some industries but not for real estate as we know it. To further the point the Waterloo real estate market is significantly different the then Toronto real estate market. If a housing boom erupts in Waterloo I wouldn't advise an investment purchasing housing spree in Toronto based on that fact.

What we are now entering into is a buyers market. There is more inventory out there to choose from which gives buyers the power to negotiate lower prices. The government is buying up mortgages, thereby increasing the availability for lenders to approve new mortgages. Mortgage rates have been dropping to fuel the housing market. Translation: Compared to the record year of 2007 people, many people may sell their home for less this year but will find that they can upgrade to a better home for less then they would have paid for last year, without the fear of entering multiple offers at every deal.

I came across two interesting articles that support my statements and the general state of our economy and real estate in Toronto. To view them follow the links provided below.

Gian-Piero

CIBC Weekly Market Insight & Canadian Economy Report

Have You Considered Buying A Home In the District of a Good School?

Every parent wants to know how well their kids are doing in their schools. One of the most important factors for Buyers when selecting an area tends to be based on school performance.

Here is a great website to check how well your child's school is performing. Check schools in the St. Clair and Bathurst area by clicking the first letter of the school name, then scrol down the list to find your school, then click on the name to see the report.

Gian-Piero

Link: Fraiser Institute http://www.fraserinstitute.org/reportcards/schoolperformance/schoolfinder.aspx?prov=ON&lv=E&l=A