Market Articles for Central Toronto
Rising housing values and lack of inventory challenge first-time buyers, says RE/MAX Hallmark Realty Ltd.
“Homeownership continues to be primary objective”
While higher housing values and tight inventory levels have hampered home-buying activity so far this year, longer amortization periods and alternative housing types have offset the impact on most major markets across the country, according to a report released today byRoyal Lepage |
Inventory levels, however, remain one of the foremost concerns facing purchasers across the country. A shortage of available entry-level product was identified as a major obstacle impeding buyer intentions in three-quarters of markets surveyed in the report. |
Press Release, October 24th, 2007
Buyers Assured – No Phantom Offers |
Company Policy In Offer situations when RE/MAX Hallmark Realty Ltd. is representing the seller in multiple offer scenarios, it will be the company wide policy of RE/MAX Hallmark Realty Ltd. Realtors to disclose the name and company of all Realtors (in writing), who have registered an offer on the property to any participating co-operating broker when requested. When requested, this information will be provided to any co-operating broker either in writing before Offers are being presented of after completing of transaction. Founded in 1973 by David and Gail Liniger in Denver, Colorado, RE/MAX Hallmark Realty Ltd. is a leading brokerage firm in Toronto, with over 450 sales professionals working out of 6 offices and over 2.5 billion in real estate sales annually. |
RE: Details of Approved Toronto Land Transfer Tax
Toronto City Council has approved a municipal land transfer tax that will be levied on top of the provincial land transfer tax. TREB worked very hard to oppose this tax and commends the efforts of REALTORS® on this issue. TREB took a strong position to oppose this tax as unfair in principle and refused to compromise. As a direct result of this strong position, City Council was forced to make a number of amendments to the City’s original proposal, including rebates for first-time buyers, a reduced rate, and grandfathering for existing transactions.
Commercial / Industrial / Etc.:
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When does this take effect? February 1, 2008. |