12 questions to ask before you buy

I came across a great article that goes into great insight to guide buyers in their search for a home. The article lists the following questions which I believe can be of great help and would a positive impact on your property investment:

12 questions to ask before you buy
» Is the area’s average income increasing faster than the provincial average?
» Is the area’s population growing faster than the provincial average?
» Is the area creating jobs faster than the provincial average?
» Does the area have more than one major employer?
» Will the area benefit from an economic or real estate ripple effect?
» Has the political leadership created an economic growth atmosphere?
» Is the Economic Development Office progressive and helpful?
» Is the area’s infrastructure being built to handle the expected growth?
» Are there any major transportation improvements in the works?
» Is the area attractive to Baby Boomers’ lifestyle?
» Is there a short-term problem occurring that is likely to disappear in the future?
» Is there a noted increase in labour and materials cost in the area?

Click on this text to ready the article
Source: Cutting Edge Research Inc. by Wayne Karl

The 6 must-have spaces in your next home

By Steve Kerch of Marketwatch.com
ORLANDO, Fla.  Homeowners, shaking some of their recession weariness, are making
plans again to upgrade to a new home or remodel the one they're in, a survey from
Better Homes and Gardens magazine finds.
But their flirtation with a nicer home is still grounded in economic reality.
Consumers are starting to give themselves permission to dream about a new home
again and for the first time in several years actually are considering houses that
are slightly larger than their existing homes, said Jill Waage, editorial director
for home content at the magazine.
But they aren't looking at something significantly larger. They want more space but
it is driven by both function and finances, she told an audience at the
International Builders Show here earlier this month. Their priority is a home they
will enjoy. The new mantra is I am spending my money, so make it count.
According to a survey of Better Homes and Gardens readers taken in late December,
these are the six spaces that homeowners most want to see included in their new home
or updated in their existing one:

1. Separate laundry room
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2. More storage and built-ins
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3. A home office
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4. An outdoor grilling/living area
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5. A second bedroom with a private bath
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6. Everyday eating space close to the kitchen
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TORONTO HOUSING STARTS INCREASE IN 2010

TORONTO, Source: CMHC
JANUARY 11, 2011 – Preliminary data released today by the Canada Mortgage and Housing Corporation (CMHC) show total housing starts registered in 2010 for the Toronto Census Metropolitan Area increased by 13 per cent to 29,195 units. In December, the seasonally-adjusted annual rate (SAAR) of total housing starts
declined to 17,800 units.
Housing starts in the Toronto CMA showed improvement during 2010 thanks to a rise in demand for new homes, yet remained below annual levels achieved throughout the past decade. "Growth was held back by a reduced supply of available lots for single-detached development and construction delays for many condo projects that opened sales offices in the pre-recession period" said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "The high-rise industry is poised for a strong 2011 with preliminary work well underway at many sites, robust pre-construction sales figures, and a large number of completions making way for new development," added Hildebrand.
The monthly decline registered in December was attributed to a pull-back in high-rise starts following a spike in activity during November and a general downtrend in single-detached starts experienced throughout the year.
For original article and chart PDF file click here.

GTA REALTORS® Report Mid-Month Resale Housing Figures

“Under current lending standards, the average selling price is affordable for a household

earning the average income in the GTA. The annual price growth we have been

experiencing has been justified by this positive affordability picture,” said Jason Mercer,

TREB’s Senior Manager of Market Analysis.

What affordability means is that people are still able to buy and maintain homes, therefore the risk of a housing bubble caused by mortgage defaults is low.  With a reported 5% increase to $412,367 in GTA average home price over this time last year, and a lower number of sales and listings, the market data is showing that home buyers and sellers are being prudent and are doing a good job in making housing decisions.

For the full report visit Toronto Real Estate Board - Mid month resale housing figures.

Buyer Representation Agreement: Message from Tom Lebour 2009-2010 TREB P...

When it comes to just about every kind of contract, signing on the dotted line makes us all a little bit nervous. When selling a home, most people are aware they can sign a Listing Agreement with a REALTOR®. There is, however, an agreement that REALTORS® ask their home-buying clients to sign. It's an agreement that works in favour of buyers, guaranteeing the very best in real estate service.

This Month in Real Estate (Canada) : September 2010