Saturday, December 12, 2015

Increase to Minimum Down Payments


Tuesday, December 1, 2015

Municipal Land Transfer Tax: UPDATE!

Municipal Land Transfer Tax:  UPDATE!

From Patricia Verge,
President, Ontario Real Estate Association


It gives me great pleasure today to inform you that this morning, Ted McMeekin, the Minister of Municipal Affairs and Housing, informed the legislature that the government will not give municipalities the ability to charge a municipal land transfer tax (MLTT).

Below is a portion of copy of the Minister's statement:

While we are currently reviewing the feedback from our partners, it is clear is that there has been no call for a Municipal Land Transfer Tax.  I was pleased communicate our government's position today, that other than in Toronto, where the power already exists, our government will not be extending Municipal Land Transfer Tax powers to other Ontario municipalities.

In short, the government has listened to our campaign and agreed that the MLTT was the wrong tax for Ontario municipalities. In doing so, you, Ontario REALTORS, have helped stop one of the largest tax increases on home ownership in a generation. 

It is one of the biggest government relations wins in our association's history. Congratulations everyone!


Lisa Portolese
Royal LePage Signature Realty
416-953-9714


Sunday, August 9, 2015

How to protect your property during a buyer ‘open house'

How to protect your property during a buyer ‘open house’

Family with real estate agent
How comfortable would you feel opening your home to a complete stranger? Under normal circumstances, most people would never let strangers roam around their home, but it’s a key component of an open house when selling a home. It’s important to understand the potential for theft or damage.
“Holding an open house can be a great way to attract potential buyers, but it’s important to consider safety and security,” says Joseph Richer, registrar of the Real Estate Council of Ontario.
Fortunately, a few simple steps can go a long way. Protect your valuables, such as:
    • Portable electronics,
    • Jewelry and other valuables,
    • Passport and travel documents,
    • Receipts, bills and personal information
    • Prescription medication.
Thieves know to look in closets and sock drawers, so the items should be placed somewhere secure, like a safe, or offsite at a friend’s home.
Keep track of who enters the property by having your real estate professional ask each visitor to show identification and complete a registration form.
Ask your representative to limit the number of visitors at one time, or to bring an assistant to ensure that all visitors are escorted as they tour the property.
“It’s important to remember that it’s your home, and you set the rules for visitors,” says Richer.


“Communicate early and openly with your registered broker or salesperson about how the open house will work.”
For other helpful real estate tips or to subscribe to my mailing list contact me.
Have a great day! 

Lisa Portolese, Sales Representative
Royal LePage Signature Realty, Brokerage
30 Eglinton Avenue West, Suite 200
Mississauga, Ontario, Canada
Bus (905) 568-2121 Cel  (416)  953-9714 




Saturday, May 2, 2015

Toronto named hottest luxury real estate market in the world

Toronto named hottest luxury real estate market in the world



TORONTO – High-end homes are being snapped up increasingly fast in Toronto, named the world’s hottest luxury real estate market in a new report that looks at where the wealthy choose to live.
The study says the extremely low supply of homes in Toronto has pushed prices for relatively average homes to over $1.2 million, and up to $4.8 million for larger homes or those in more desirable neighbourhoods.The report by Christie’s International Real Estate says Toronto was the only location among the world’s top 10 markets to see a faster pace of luxury home sales last year over 2013 – 37 per cent in 2014, compared with only four per cent the previous year.
Homes worth $1.2 million or more spent less time on the market in Toronto than in any other top locations – an average of 31 days, eight days less than the previous year.
Toronto luxury real estate
A mansion in Toronto’s Forest Hill is pictured in this file photo.
Fernando Morales/The Globe and Mail

By comparison, the second-fastest market was San Francisco, where homes in that price range took an average of 71 days to sell. The report says the global average in 254 days.
However, Toronto ranked only 10th on the general luxury index, which measures overall prices as opposed to growth and demand. London was ranked first.
“2014 was the Toronto market’s second-best year on record,” Justine Deluce, a broker at Chestnut Park Real Estate, said in the report.
“If there had been more inventory, the record would easily have been shattered.”
On average, luxury resort markets saw a stronger boost in sales than urban areas last year, the report shows.
The Muskoka region north of Toronto saw a “marked increase” in luxury home sales, especially in the $2.4 million or more range, which went up 66 per cent from 2013.
“The jump in luxury sales volumes does not necessarily show that average sale prices increased, but does indicate that buyers had an appetite for more expensive recreational properties-something that has not occurred since before the recession of 2008,” Deluce said.
Last year also saw more properties than ever being sold for more than US$100 million across all markets.
© The Canadian Press, 2015
To find out what kind of home can 1  million get you inside (and outside) Toronto?  Call or email
Lisa Portolese, Sales Representative
Royal LePage Signature Realty, Brokerage
905-568-2121