Residential sales up 4.9% in January 2016 compared to a year earlier.

Ontario home sales remain very strong in January

Highlights

·         Residential sales up 4.9% in January 2016 compared to a year earlier. ·         New listings in Ontario numbered 21,405 units in January 2016, a decline of 10.6% compared to last year. ·         The provincial average price of homes in January 2016 rises 11% compared to a year earlier. ·         There were 4 months of inventory at the end of January 2016.

Unit Sales Residential sales activity reported through the MLS® Systems of real estate Boards and Associations in Ontario numbered 10,323 units in January 2016, up 4.9% from a year earlier. Newly Listed Units New listings on the MLS® Systems of real estate boards in Ontario numbered 21,405 units in January 2016, a decline of 10.6% from a year earlier. Average House Price The provincial average price for homes sold in January 2016 was $466,053, rising 11% from a year earlier. Months of Inventory There were 4 months of inventory at the end of January 2016, down from 5 months from the same time one year ago. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. Sales to New Listings Ratio The Ontario sales-to-new listings ratio was 65.2% in January 2016. A sales-to-new listings ratio between 40 and 60 percent is generally consistent with balanced housing market conditions, with readings below and above this range indicating buyers’ and sellers’ markets respectively. View detailed report

Strong Start to 2016

February 3, 2016 -- Toronto Real Estate Board President Mark McLean announced Greater Toronto Area REALTORS® reported 4,672 residential transactions through TREB's MLS® System in January 2016. This result represented an 8.2 per cent increase compared to January 2015.

"It is clear that the handoff from 2015 to 2016 was a strong one. This is not surprising given that recent polling conducted for TREB by Ipsos suggested 12 per cent of GTA households were seriously considering the purchase of a home in 2016. Buying intentions are strong for this year as households continue to see home ownership as an affordable long-term investment," said McLean.

The MLS® Home Price Index Composite Benchmark Price for January 2016 was up by 10.7 per cent on a year-over-year basis. The average selling price over the same period was up by 14.1 per cent.

The difference in the annual growth rates for the MLS® HPI and average price was largely due to a greater share of high-end detached homes sold in the regions surrounding the City of Toronto this year compared to last. The MLS® HPI removes the impact of shifts in the share of different property types sold from one year to the next.

"Market conditions in January were tighter compared to a year earlier, with an annual increase in sales up against a decline in listings. This is why growth in the MLS® HPI benchmarks continued to be strong, especially for singles, semis and townhouses, where there has been a persistent lack of inventory," said Jason Mercer, TREB's Director of Market Analysis.

For help with any of your real estate needs.

Contact me direct at (905) 568-2121

Increase to Minimum Down Payments

Increase to Minimum Down Payments

December 11th, 2015 the government announced its intent to raise the minimum down payment requirements on homes valued over $500,000. 

For example a $700,000 home will require a $45,000 down payment, 5 per cent on $500,000 and 10 per cent down on the remaining $200,000. 

The government cites its desire to “contain risks in the housing market” as the reason for its decision.
The issue of an increase to minimum down payments is something CREA (Canadian Real Estate Association)  has effectively and successfully fought against since 2011.

CREA is disappointed with this decision and have communicated to the government and the media our concerns. That said, we believe the tiered approach the government is taking is preferable to an increase in minimum down payments for all consumers, given the importance of first time homebuyers to the market and the economy.

Talking Points

• Canada’s housing market is a key component of Canada’s overall economic stability and an important job creator.

• In 2015 each home sale generates an estimated $51,409 in spin-off spending. This translates into one job for every three transactions. Home sales and purchase in 2016 will add an estimate $26 billion in spin-off consumer spending and creates nearly $183,000 jobs.

• Indeed, our economy grew at 2.3 per cent in the last quarter, and home sales and purchases were a significant reason for that growth.

• Given the tools available to the government to intervene in the housing market we believe today’s announcement will cause unintended collateral damage to markets beyond Toronto and Vancouver.

• It could turn buyers and balanced markets into distressed markets, at a time when our economy is struggling.

Requirements will remain at 5 per cent down payment for homes under 500,000. Any amount over $500,000 will require a 10 per cent down payment.

The announced changes will take effect on February 15, 2016.

CREA will continue to advocate for homebuyers, sellers and members on this issue.

If you would like to know how this decision affects you and your personal situation. Give me a call. With over 20 years real estate industry experience I would love to be of assistance to you. 

Sincerely,

Lisa Portolese, Sales Representative

Royal LePage Signature Realty

Email: LisaMovesYou@Rogers.com

(905) 568-2121

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

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

HELPFUL RESOURCE

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 

Website http://www.lisamovesyou.ca

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.

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

Top 5 reasons to sign up for your neighbourhood Terry Fox Run …

Ain't it great to be alive? Check out this awesome song at the end of this post.  

I wanted to reach out to you today with a very important request. On Sunday September 14th, 2014 we celebrate the 34th anniversary of the Terry Fox Marathon of Hope.  There are run/walk/crawl sites all over the world now. Wow, talk about the power of what one person can do! 

Top 5 reasons to sign up for your neighbourhood Terry Fox Run …

#1) No question, the number #1 reason is to help us save lives - this is why we do what we do. This is what gets us up in the morning and inspires us every single day. And remember, ¢84 cents of EVERY dollar you raise goes directly to research. We have come so far.

As a direct result of the money you have raised or donated, we have better ways to detect, diagnose and treat cancer today. 

This is helping cancer patients to live, to live longer and with a better quality of life. 


Let's  truly make a difference in someone's life..register for your local Terry Fox Run today. Click the link to find a Run near you - Sept 14http://www.terryfox.org/Run

 -or-

You can also support my Team Members by visiting our Terry Fox Pirate's Page  https://secure.e2rm.com/registrant/FundraisingPage.aspx?registrationID=2516373&langPref=en-CA

Is Investing in Condos in Mississauga a good idea?

Is Investing in Condos in Mississauga a good idea?

Like almost any investment, you need to look at the type of return that you are expecting as well as the level of risk that you are willing to assume.

Investing in condos is a safe long term investment with a historical increase in property values significantly above inflation. As far as I am concerned there are 3 certainties in life...death, taxes and the fact that real estate value will always increase over time (at lease until we colonize other planets).

Having said that, I do not recommend "flipping" condos or looking at a condo as a short term investment. The costs of entering and exiting are just too high. For the long term though, condos in the 600-700 sf range in high quality areas are excellent investments.

Real Estate provides 3 powerful ways to earn a return:

1. Property value increase - As I had mentioned above the historical increase in property values is significantly above inflation. At any given time the Real Estate Market can be up or down, but over time it will always increase. The only time that you will lose money in real estate is when you are forced to sell.

2. Paying down your mortgage (building equity) - The rental market is incredibly strong, as are rental prices. This means that you can have someone else pay your mortgage down and build equity for you(hopefully without you spending a dollar on anything other than upkeep).

3. Monthly cash flow from rentals - While most new condo purchases yield are "break even" investment up front, as rental prices increase over time (all things equal) your mortgage payment should actually decrease, which will create a monthly cash flow that will grow year over year.

With 25 years of real estate experience I would be happy to answer any questions. Just call or email. Happy Home Hunting!

LISA PORTOLESE
Salesperson
ROYAL LEPAGE KINGSBURY REALTY, BROKERAGE
905-568-2121

Follow me on Twitter and Facebook!

Canada vs USA

February 20, 2014


Coming off a thrilling Canada/US game in women’s hockey, it’s the men’s turn to take on their American rivals.

If there was ever a time for goal-scorers to live up to their reputations, this would be it.

Team Canada faces off against the U.S. in the semifinals of the men’s Olympic hockey tournament this Friday.

I will be in Detroit, hoping for a 3 hour delay so I can watch the game at some Oxygen Bar at the Airport and it looks like the weather will be cooperating with me.

I do hope that I will run into Detroit’s Eminem, Kid Rock or Madonna, but mainly I am hoping wishing and praying that my Purple Suitcase and Hoodie don’t get me mistaken as some Bieber or Raptors Fan.

The Olympics are okay but I am really looking forward to be the return of Scandal and Once Upon a Time. Now there are some awesome series to check into it. I am also happy to report that I brought my friends Geek Collection of Movies and am about to watch a very iconic Empire.

I am wondering if Delta will show the game on the flight because I need to know who will win the case of beer, Obama or Harper?

It has been such as active winter. I am looking forward to getting away for two amazing weeks in my home away from home- Puerto Vallarta. Then a returning to a very active spring market. It is always the same here in the GTA. I notice my friends in Victoria enjoy warmer climate and consistency throughout the year.

Once again this winter people are not listing their homes, causing a shortage, and the lack of supply encourages multiple offers and price increases. Great for Sellers, not so good for Buyers.

Once the weather changes there will probably be more signs in the City especially if the Provincial Liberals move to an election in May. Many houses will be put up for sale and I expect that they will sell quite fast due to pent-up demand. This is almost a yearly occurrence in the GTA and will cause us to have a very busy few months, which will leave some sellers disappointed if they wait to long to and list their homes in the summer months.

If you or any friends are thinking of selling, tell them to get their houses ready for the marketplace, the sooner the better. Send me an email or give me a call.



Until we meet again,



Go Team Canada Go!

FIRE YOUR LANDLORD and say "I do, to Home Ownership"

In 2014
Say "I Do" to Homeownership

IMAGINE...

Marrying your soul mate...
and starting your life together in your
OWN HOME

This is POSSIBLE, just as soon as you make the "commitment" and Say "I DO" to Homeownership.

Dear Newlyweds,

In 2014, you can start the home buying process - and be well on your way to owning your own home!

When you "create" a plan and write out your "vision".

Purchasing a home is not difficult...all you need to do is commit to spending the time necessary to interview your real estate house hunting team. You can make it happen together. I'll give you EVERYTHING you need to put yourself on the path to owning your own home.

What are the benefits for you and your mate when you purchase a home?

• Build equity and wealth (a personal savings plan)
• Tax breaks
• Independence
• Privacy
• Freedom
• Stability
• Room to grow your family
• Low interest rate

Often times, we settle for leasing a nicer, newer more expensive apartment as a compromise for not purchasing a home. Newlyweds often spend $1000.00 each month renting (that's $12,000 in one year, $24,000 in two years and $60,000 in five years). Think about how much money is spent with no return back to you! And to top it off...we usually outgrow these tiny apartments, because we've accumulated SO MUCH STUFF! Remember, it's two of you now versus just one.

FIRE YOUR LANDLORD

When you Say "I Do" to Homeownership, you terminate the cycle of renting...the cycle that prohibits long-term wealth building for you and your spouse. If you're like the millions that rent after getting married, do something different...BUY A HOME!

Educate and prepare yourselves to be homeowners. Saying "I Do" to Homeownership provides you with a golden opportunity...an opportunity that will teach you "how to" buy your first home together.

NO "SPECIAL SKILL" NEEDED

All newlyweds can purchase a home once they make the commitment.  For some, it takes more time. I love to meet with people and guide them in the right direction. You do need to have some basic things in place in order to qualify. 

Some examples are a 

• Steady work history (2 years or more) some exceptions do apply
• Minimum credit scores of 620 
• 5% to 20% down payment
• Moderate debt-to-income ratio (ability to afford a mortgage)

3 MAGIC BULLETS

COMMITMENT:

The first thing (after saying "I DO" to one another) is to Say "I Do" to Homeownership. Both you and your mate have to make the commitment to STOP RENTING and make provisions toward homeownership. This is a commitment that both of you must agree on. I'm going to teach you how to know if both of you are ready to commit to homeownership. You may be thinking that your apartment is "okay" for the two of you, and that you're comfortable. But, STOP...think about starting your family. Wouldn't you like to have a backyard where your child can safely play? Don't you want you, your spouse and children to develop lasting friendships with neighbors, to have stability...a place that all of you can call home? Sure you do! So do I! I want to help you achieve homeownership for all of these reasons.

That's why I'm encouraging you to look beyond today and sacrifice for an investment that will last your entire lifetime!

EDUCATION:

After you've made the commitment to purchase a home, you then have to educate yourselves on the home buying process. This is extremely important. Your home buying education is the absolute, re-assurance to your purchasing a home successfully (without regret and mistakes). 

Did you know that with the precise education and home buying tips you can virtually eliminate the negative stigma and fear of buying a home. If you hear couples speaking negatively about homeownership...they are fearful. A lack of understanding, knowledge and education will cause us to fear. We naturally fear the unknown. And since you may not have purchased a home before, you don't have a "point of reference" of how it's done.

Once you have your arsenal of information you're then eligible and well able to begin your home buying process with confidence.

PREPARATION:

No one buys a home overnight! It takes preparation. Obviously, you and your mate are smart and plan to buy a home (otherwise, you wouldn't be on this website).

Being prepared eliminates the surprises and removes the "guess work."

Knowledge is Power!

As a Realtor, I've had an opportunity work with many couples - all excited about buying their 1st home. 

As I work with each of these couples, I consistently discover that their love and commitment to each other is strengthened by their accomplishment of purchasing their 1st home together.

It creates a positive synergy and brings them even closer. Perhaps, it's the loving considerateness that the husband gives the wife as he listens to the intricate details that she adores and want in the house or the thoughtful compromise that the wife makes so that he can have his "man cave" 

I love to see and hear the excitement as these couples chatter away about what they're going to do after they move into their new home. Purchasing a home with the one you love symbolizes - commitment, stability, and happiness. 

Couples that choose homeownership are progressive, forward thinkers that clearly see the benefits of homeownership. 

IT'S SO EASY!

 Call me or email me to schedule an appointment. 

• Have a Heart-to-Heart Talk to Discuss Your Needs
• Use the Internet to Begin Home Buying
• Sit Down Together to Calculate the Costs of Homeownership
• How to Know if You’re Both Ready to Purchase a Home
• How to Know if You Will Qualify for a Loan
• Agree to Find a Good Real Estate Agent to Help You
• Learn How to Choose the Right Mortgage
• Know How to Choose a Mortgage Lender
• Learn How to Comparison Shop for the Right Mortgage
• Evaluate and Research Neighbourhoods together
• Learn How to Shop for Your New Home
• Learn How to Strategically Visit Homes and Open Houses
• Learn How to Make an Offer on Your New Home
• Understand How to Properly Bid and Negotiate on Your New Home
• Learn How to Handle Home Buyers Remorse
• Learn How to Choose a Mover
• Create a Home Maintenance Checklist
• Create a Moving Time Line

There is a lot to do. There is much to learn online. However, even in  this age of Technology there still remains a few well kept secrets.

Let me be of service to you. If you are not in my area. I will certainly be happy to chat with you and find you a Realtor, in your city or country that has a solid reputation amongst our peers!

Best Wishes to everyone!  

Lisa Portolese, Sales Representative

Royal LePage Kingsbury Realty, Brokerage

30 Eglinton Avenue West, Suite 200

Mississauga, Ontario, Canada

Bus (905) 568-2121

Cel  (416)  953-9714 

Email     LisaMovesYou@Rogers.com

Website http://www.lisamovesyou.ca

"

Yes, Virginia, there is a Santa Claus!

Merry Christmas to All!  Check out the video at the end of this post. It is David Bowie and Bing Crosby.  Eight-year-old Virginia O'Hanlon wrote a letter to the editor of New York's Sun, and the quick response was printed as an unsigned editorial Sept. 21, 1897. The work of veteran newsman Francis Pharcellus Church has since become history's most reprinted newspaper editorial, appearing in part or whole in dozens of languages in books, movies, and other editorials, and on posters and stamps.

"DEAR EDITOR: I am 8 years old. "Some of my little friends say there is no Santa Claus. "Papa says, 'If you see it in THE SUN it's so.' "Please tell me the truth; is there a Santa Claus? "VIRGINIA O'HANLON. "115 WEST NINETY-FIFTH STREET." VIRGINIA, your little friends are wrong. They have been affected by the skepticism of a skeptical age. They do not believe except they see. They think that nothing can be which is not comprehensible by their little minds. All minds, Virginia, whether they be men's or children's, are little. In this great universe of ours man is a mere insect, an ant, in his intellect, as compared with the boundless world about him, as measured by the intelligence capable of grasping the whole of truth and knowledge. Yes, VIRGINIA, there is a Santa Claus. He exists as certainly as love and generosity and devotion exist, and you know that they abound and give to your life its highest beauty and joy. Alas! how dreary would be the world if there were no Santa Claus. It would be as dreary as if there were no VIRGINIAS. There would be no childlike faith then, no poetry, no romance to make tolerable this existence. We should have no enjoyment, except in sense and sight. The eternal light with which childhood fills the world would be extinguished. Not believe in Santa Claus! You might as well not believe in fairies! You might get your papa to hire men to watch in all the chimneys on Christmas Eve to catch Santa Claus, but even if they did not see Santa Claus coming down, what would that prove? Nobody sees Santa Claus, but that is no sign that there is no Santa Claus. The most real things in the world are those that neither children nor men can see. Did you ever see fairies dancing on the lawn? Of course not, but that's no proof that they are not there. Nobody can conceive or imagine all the wonders there are unseen and unseeable in the world.You may tear apart the baby's rattle and see what makes the noise inside, but there is a veil covering the unseen world which not the strongest man, nor even the united strength of all the strongest men that ever lived, could tear apart. Only faith, fancy, poetry, love, romance, can push aside that curtain and view and picture the supernal beauty and glory beyond. Is it all real? Ah, VIRGINIA, in all this world there is nothing else real and abiding. No Santa Claus! Thank God! he lives, and he lives forever. A thousand years from now, Virginia, nay, ten times ten thousand years from now, he will continue to make glad the heart of childhood.