GTA REALTORS® REPORT MID-FEBRUARY RESALE HOUSING MARKET FIGURES
TORONTO, February 18, 2010
-- Greater Toronto REALTORS reported 3,555 sales through
the Multiple Listing Service during the first two weeks of February.
This represented a 74 per cent increase compared to the 2,044 sales recorded during the
same period in 2009 when resale transactions had dipped due to the recession. The
February mid-month sales total was also 7.7 per cent above the previous high set in 2006.
"Home ownership demand remains strong in the GTA, as households remain confident
that economic recovery is at hand and that ownership housing will continue to be a
quality long-term investment," said Toronto Real Estate Board President Tom Lebour.
The average price for February mid-month transactions was $429,997 - an 18 per cent
increase over 2009. New Listings within the Toronto Real Estate Board boundaries were
up 15 per cent to 6,212.
"Double-digit price increases will persist through the first quarter of the year," said Jason
Mercer, TREB's Senior Manager of Market Analysis. "However, as new listings continue
to increase creating a better supplied market, we will see the annual rate of price growth
moderate into the single digits."
Summary Of February Sales And Average Price
February
2010 2009
Sales Average Price Sales Average Price
City of Toronto ("416") 1,430 $471,958 816 $400,467
Rest of GTA ("905") 2,125 $401,760 1,228 $341,013
GTA 3,555 $429,997 2,044 $364,748
Source: Toronto Real Estate Board
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics
and share a state-of-the-art Multiple Listing Service. Serving over 29,000 Members in the Greater
Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area
open house listings are now available on www.TorontoRealEstateBoard.com.
Saturday, February 27, 2010
Saturday, February 6, 2010
Choosing the neighbourhood that's right for you
When buying a home, the neighbourhood you select will not only play a pivotal role in your family's life, but in the resale value of the property.
One person's ideal neighbourhood however may vary greatly from another's. But, regardless, there are some needs and wants that generally do not change. The distance from your new home to schools, churches and shopping, for example, will not only affect how you and your family settle into your new home, it will also draw or turn off a perspective buyer.
A good first step is to enlist the services of a REALTOR® who works in the area you are thinking of moving. REALTORS® are very familiar with the communities in which they work and can answer many of the questions you will develop during your search.
Check the lifestyleA home is a part of a larger community. And some are more desirable than others. Some communities are geared more to young families, others to older adults and still others to singles or an eclectic mix of residents.
Never buy in an unfamiliar community or neighbourhood unless you have spent some time there both during the week and on weekends, day and night. Drive and walk around. Talk to store owners and people you meet on the street. Ask what they think of the neighbourhood.
If there are vacant tracts of land where you plan to buy, check with local authorities to see what the proposed land use might be. The last thing most homeowners want is the development of a mall or a high-rise office building across the road from their newly-purchased property.
Don't let particular things in a home that appeal to you override its location and potential subsequent resale value. When analyzing a potential property, ask yourself if you can imagine living -- not just in this home -- but in this neighbourhood for quite a long time.
Remember that someday you may have to sell your home to someone else and things that may not be important to you -- such as distance to schools, shopping, doctors and work -- may be important to other buyers.
Location, locationIn addition to finding the right neighbourhood, consider the immediate homes around the particular property you want to buy. Are they well maintained and worth the same or more than the home you are considering?
Is the location a quiet area or a major traffic thoroughfare? What kind of privacy does the backyard provide? Does it get the morning or afternoon sun? If there is no house behind you, who owns the property and how will it be developed?
Homes located further away from the centre of an urban area are generally cheaper. Are you prepared to invest the time and money it takes to commute and how long of a commute are you prepared to commit to? Is there public transit and good access to major highways nearby?
If you have kids in school, what kinds of schools and services are available? Will your kids have to be bused to their school? If a school is close by, will they have to cross any major intersections?
Being close to a school, on the other hand, may have some drawbacks -- few owners want the noise and disturbance of being located right next door.
Finding malls, grocery and specialty stores in urban, residential areas is rarely a problem. But in neighbourhoods further away from urban areas, you may need to drive to the nearest convenience store. And getting to the local grocery store, pharmacy and other support services may require an even longer trek.
It's great to be located near parks and recreational facilities, but few homeowners appreciate the high cast of tennis court lights beaming into their back yard. If the home you are considering backs onto such property, drive around the area and see how often the baseball diamonds, soccer fields, swimming pools and skating rinks are being used and when.
More serious concerns are having such things as gas stations, airports, railway tracks, commercial developments, major highways and cemeteries very close by.
Finally, if your heart is set on finding that one-of-a-kind 150-year old Georgian home, you're not going to find it in a newer development. If you want large bedrooms and bathrooms, narrowing your search to an older part of town where homes are generally smaller, may prove disappointing.
Before making any decisions, think of your lifestyle and how a particular location would enhance or detract from it.
.
When buying a home, the neighbourhood you select will not only play a pivotal role in your family's life, but in the resale value of the property.
One person's ideal neighbourhood however may vary greatly from another's. But, regardless, there are some needs and wants that generally do not change. The distance from your new home to schools, churches and shopping, for example, will not only affect how you and your family settle into your new home, it will also draw or turn off a perspective buyer.
A good first step is to enlist the services of a REALTOR® who works in the area you are thinking of moving. REALTORS® are very familiar with the communities in which they work and can answer many of the questions you will develop during your search.
Check the lifestyleA home is a part of a larger community. And some are more desirable than others. Some communities are geared more to young families, others to older adults and still others to singles or an eclectic mix of residents.
Never buy in an unfamiliar community or neighbourhood unless you have spent some time there both during the week and on weekends, day and night. Drive and walk around. Talk to store owners and people you meet on the street. Ask what they think of the neighbourhood.
If there are vacant tracts of land where you plan to buy, check with local authorities to see what the proposed land use might be. The last thing most homeowners want is the development of a mall or a high-rise office building across the road from their newly-purchased property.
Don't let particular things in a home that appeal to you override its location and potential subsequent resale value. When analyzing a potential property, ask yourself if you can imagine living -- not just in this home -- but in this neighbourhood for quite a long time.
Remember that someday you may have to sell your home to someone else and things that may not be important to you -- such as distance to schools, shopping, doctors and work -- may be important to other buyers.
Location, locationIn addition to finding the right neighbourhood, consider the immediate homes around the particular property you want to buy. Are they well maintained and worth the same or more than the home you are considering?
Is the location a quiet area or a major traffic thoroughfare? What kind of privacy does the backyard provide? Does it get the morning or afternoon sun? If there is no house behind you, who owns the property and how will it be developed?
Homes located further away from the centre of an urban area are generally cheaper. Are you prepared to invest the time and money it takes to commute and how long of a commute are you prepared to commit to? Is there public transit and good access to major highways nearby?
If you have kids in school, what kinds of schools and services are available? Will your kids have to be bused to their school? If a school is close by, will they have to cross any major intersections?
Being close to a school, on the other hand, may have some drawbacks -- few owners want the noise and disturbance of being located right next door.
Finding malls, grocery and specialty stores in urban, residential areas is rarely a problem. But in neighbourhoods further away from urban areas, you may need to drive to the nearest convenience store. And getting to the local grocery store, pharmacy and other support services may require an even longer trek.
It's great to be located near parks and recreational facilities, but few homeowners appreciate the high cast of tennis court lights beaming into their back yard. If the home you are considering backs onto such property, drive around the area and see how often the baseball diamonds, soccer fields, swimming pools and skating rinks are being used and when.
More serious concerns are having such things as gas stations, airports, railway tracks, commercial developments, major highways and cemeteries very close by.
Finally, if your heart is set on finding that one-of-a-kind 150-year old Georgian home, you're not going to find it in a newer development. If you want large bedrooms and bathrooms, narrowing your search to an older part of town where homes are generally smaller, may prove disappointing.
Before making any decisions, think of your lifestyle and how a particular location would enhance or detract from it.
.
Friday, January 15, 2010
Heating efficiency
A heating system converts fuel into heat which then flows through a house. The efficiency of a heating system depends on the amount of fuel consumed to meet heating needs. Using less fuel means your system has increased its energy efficiency.
Check your heating system first
One way to maximize output using the least amount of fuel is to reduce air leakage. Befor
e deciding to replace or upgrade your present heating system you will have to consider how much of your present system can be saved. Are the heating ducts or water distribution pipes in good condition? Oil and gas fired furnaces require a constant supply of air to operate, because fire needs oxygen to burn. An air-starved furnace can cause carbon monoxide to build-up in quantities that can be dangerous.Additional ventilation can sometimes be required in houses with heating systems that require little or no indoor air, electrically heated homes, homes with chimney-free condensing furnaces, or houses with a fuel burning furnace enclosed in a room with air for combustion from the outside.
Improve heating efficiency
If you decide to change your system, you'll have to consider what type of fuel you want to use. Cost and availability of fuel is usually the deciding factor. If you're keeping your present system, here are a
few ways you can improve its operation.Hot air ducts are notorious wasters of heat and money. If your basement feels too warm, too much heat is probably seeping out of your ducts. You can seal all joints and seams in the ducting with vinyl duct tape. With forced air-systems, the furnace filters should be changed regularly.
With hot water systems, the exposed accessible heating pipes should be insulated with flexible foil- faced fiberglass at least 19mm thick. If there is an aquastat on the boiler, (a water temperature control) the water temperature can be reduced to about 49 Celsius of 120 Fahrenheit during warmer parts of the heating season. (If your boiler is made of stainless steel, or if your main boiler also heats your domestic hot water, you shouldn't reduce the water).
"Downsizing" your oil furnace can reduce fuel bills by seven to 10 per cent. Retention head burners mix the air and oil spray very quickly which permits the combustion of oil with less air. Less air entering the burner means that less heat escapes out the chimney.
If you think you might be having problems with household air supply, contact a registered heating contractor for advice. Sourse: OREA
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