Jason & Bernie Gavadza On Real Estate

This Month In Real Estate December 2009

 GTA REALTORS® Report November Resale Housing Market Figures

 
TORONTO, December 3, 2009 - Greater Toronto REALTORS® reported 7,446 sales in November  – slightly more than double the November 2008 result when GTA home sales had dipped markedly due to the economic downturn.  Year-to-date sales were up 14 per cent compared to the first 11 months of 2008.
 
“This year in the GTA home sales will be in line with the healthy levels experienced between 2004 and 2006,” said Toronto Real Estate Board President Tom Lebour.  
 
“Increased resale home transactions in the Toronto area and country-wide played a key role in pushing the Canadian economy out of recession in the third quarter.”
 
The average price for November transactions was up 14 per cent year-over-year to $418,460.  The average price year-to-date was up four per cent to $394,464.
 
“Very strong annual growth rates for sales and average price should be expected through the first quarter of 2010, because we will be comparing the current recovery to the housing market decline experienced last winter," according to Jason Mercer, TREB's Senior Manager of Market Analysis.  “As we move into the spring, growth rates will move to more sustainable levels.” 

And please don't hesitate to discuss any questions or concerns you have by

calling us at 647-219-7653

How Can We Help You?

www.YourFamilyRealtors.ca

Jason & Bernadette Gavadza

Homeowner's Don't Miss the Deadline!

Did you know…

The non-refundable Home Renovation Tax Credit (HRTC) is based on eligible expenses for work performed or goods acquired after January 27, 2009, and before February 1, 2010, in respect of an eligible dwelling, pursuant to an agreement entered into after January 27, 2009.

Canadian homeowners should be aware of the deadline to ensure they are able to claim the non-refundable tax credit of up to $1,350 for their home renovation or alteration. Eligible expenses for goods acquired during this period, even if they are installed after January 2010, will still qualify. If an eligible expense involves work performed by a contractor or a third party, and the work is not completed by the end of the eligible period, only the portion that is completed before February 1, 2010 will qualify even if a payment has been made.

For more details about the Home Renovation Tax Credit, click on the following link to CRA web site:

http://www.cra-arc.gc.ca/nwsrm/txtps/2009/tt091103-eng.html

And please don't hesitate to discuss any questions or concerns you have by calling us at 647-219-7653

How Can We Help You?

www.YourFamilyRealtors.ca

Jason & Bernadette Gavadza

Source: Canada Revenue Agency