January 27, 2012 — The federal government’s ecoENERGY Retrofits- Homes program ends on March 31, 2012. This program enables eligible homeowners to receive grants of up to $5,000 to make their homes more energy-efficient.

Prior to undertaking any renovations, homeowners must first have an energy audit of their home performed by a licensed service organization. The evaluation report provides customized recommendations for renovations to improve the energy efficiency of the home. Once the homeowner has completed the renovations, a second audit must be undertaken by March 31, 2012 to determine the change in the home’s energy efficiency.

Only products purchased on or after June 6, 2011, and installed after a pre-retrofit evaluation are eligible for the grant. All energy retrofits and post-retrofit evaluations must be completed by March 31, 2012.

For more information on the ecoENERGY Retrofit – Homes program, please visit: http://www.ecoaction.gc.ca/ecoenergy-ecoenergie/retrofithomes-renovationmaisons-eng.cfm

$5000, home energy audit, ontario, rebate

Mississauga, ON (December 6, 2011) – Canadian residential real estate defied conventional logic and outperformed expectations in 2011, posting another solid year of housing activity virtually across the board. The trend is expected to carry forward into 2012 as Canadians continue to demonstrate their faith in homeownership, despite concerns over the European debt crisis and its impact on the global economy, according to a report released by RE/MAX.

The RE/MAX Housing Market Outlook 2012 examined trends and developments in 26 major markets across the country. Eighty-eight per cent (23/26) anticipated average price increases by year-end 2011—with percentage hikes ranging from one to 16 per cent. The forecast for 2012 shows the upward trend moderating, but still ahead of 2011 figures. Overall home sales are expected to remain on par or ahead of last year’s levels in 85 per cent (22/26) of markets in 2011—including Saskatoon with a year-over-year percentage increase of 13 per cent and an eight per cent uptick in Calgary, Winnipeg, Hamilton-Burlington and Sudbury. Almost half of Canadian markets will match the 2011 performance, while the remainder should post increases ranging from one to five per cent next year.

By year-end 2011, an estimated 460,000 homes are expected to change hands, up three per cent from the 447,010 units reported in 2010. Sales are expected to climb one per cent to 464,500 units in 2012. The value of a Canadian home is set to climb to $363,000 this year—an increase of seven per cent over the $339,030 posted one year ago. By year-end 2012, the average price in Canada is forecast to appreciate two per cent to $371,000.

The Canadian housing market has demonstrated tremendous resilience in recent years, but 2011 stands out. Instead of responding to economic concerns both here and abroad with a retreat in sales and prices, residential real estate markets actually experienced an upswing in the volatile third and final quarters. While clearly not impervious to the impact, Canadian consumers are intent on making their moves now, in advance of higher housing values and rising interest rates down the road.

Improvement in both provincial and local economies, especially during the second half of 2012, should serve to further stimulate home-buying activity. Calgary, Saskatoon, and Halifax-Dartmouth will likely lead the country in unit sales in 2012, each with a projected increase of five per cent. Regina, Greater Toronto, Saint John, Moncton, and St. John’s anticipate a three per cent increase in home sales next year.

The economic underpinnings support ongoing demand, particularly as job creation efforts continue and unemployment rates edge down further. Nationally, we remain on an upward track, and the confidence consumers have demonstrated in housing over the past decade will prove well founded once again next year. The rising belief in homeownership is key, especially among Generation X and Y—some of whom are making their moves sooner. Boomers and retirees are changing, too. They’re healthier and more active, with longer life expectancy. Overall, we’re seeing an extension of the homeownership cycle, and it’s great news for housing.

While tighter supply levels contributed to steady price appreciation in most major markets across Canada this year, an increase in inventory more in line with years previous should ease upward pressure on average price in the year ahead. The highest appreciation is expected in Regina, where values are forecast to increase eight per cent, followed by Greater Toronto, Halifax-Dartmouth, and St, John’s—each posting a five per cent gain. Overall, 81 per cent of the markets examined are forecast to set new records for average price next year. Noteworthy milestones include Greater Vancouver, which will break the $800,000 threshold, as well as Regina and Kitchener-Waterloo, which will reach the $300,000 mark.

While prices will remain on the upswing, buyers will benefit from greater selection moving forward. Stability or modest growth will characterize sales activity while GDP moves forward at a more muted pace in 2012. Whether markets will meet or potentially exceed projections will hinge largely on consumer confidence. An unexpected call for interest rate hikes could also serve to bolster sales.

Other highlights include:

• Population growth and immigration are major factors expected to prop-up housing demand and household formation in the coming years. Since 2000, Canada’s population has experienced double-digit growth of 11 per cent. By 2031, over 42 million people are expected to call Canada home.

• Investment will also continue in Canada’s major centres, with income-producing properties at the top of the most wanted list. Low vacancy rates and stock market volatility reinvigorated this segment of the market in 2011 and the very same factors are forecast to influence sales moving forward.

• Condominiums are expected to gain an increasing share of the marketplace, particularly in Western Canada and Ontario. A focus on higher density urban growth is impacting purchasing patterns and introducing new, affordable options—critical to the attainability of homeownership as prices continue to move upward.

• Housing stock in major Canadian centres will improve as municipalities focus on redevelopment and revitalization.

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1. My ability to provide you with valuable, timely information, then personally interpret what it means to you. So if you see a house for sale in the area or a home that sold and you want the information on it, I can share that with you instantly. But more importantly, I can tell you specifically what it means to you in regards to your goals, dreams and aspirations.

2. My ability and skills to protect you from dangerous predators or inaccurate information that could cause you to make a disastrous decision that could have long-term impacts. When you hear or see something that sounds or looks too good to be true, it probably is. I would advise you to always take out your cell phone, look up my number and call me before you act on something that may not be in your long-term interest. My responsibility is to protect you in your real estate and lending decisions.

3. My ability to inspire and encourage you to make your dreams come true. You have shared with me what is important about owning a home and I feel privileged that you have done that. I will continue to help you expand your vision and your goals so you live your greatest life. So, as you set goals for the future I would love to be part of helping you make them come true. As a matter of fact, consider me part of your goal-achieving team.

4. My ability and skill to use experienced judgment to make sound decisions. Decision making is both an art and a science. When you’re deciding to paint, landscape, or if you’re thinking about investing in rental property or taking out an equity line of credit – these are important decisions, and my ability to ask you questions and help you clarify your goals and dreams is something I love to do. And I’m very good at it.

5. My ability and skill to bring meaning to what is important. As your real estate consultant I know buying a home or selling a home or getting a loan is a lot more than contract signing, lock boxes and that stuff. It’s about you and your dreams – your future life. My number one goal as your consultant is to make your future bigger and brighter than your past because when your future is bigger, so is mine. It’s a win-win relationship.

6. My ability and skill to bring relationship to my service. My core belief is relationship before result. Whenever I’m asked what makes me different, I say “ME.” As you know I’m always working on making me a better me so I bring more to the relationship than I take.

7. My ability and willingness to take the high road of integrity. During a real estate transaction we get involved with all types of people, and it’s important you have one person you know will always raise the frequency with clear, truthful communication, and that is who I am.

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Forecasts for the future of interest rates over the next few years have been decreased by many Canadian economists. A recent Bloomberg economist survey has found that many economists are modifying their expectations to half of what was previously forecasted.

Economists now forecast a rate increase in the overnight rate of 75 basis points by the end of 2012. Just last month, the overnight rate was expected to increase to 2.50%, a fallback of 75 basis points. This would mean by the end of next year, we could see prime rate at 3.75%.

The adjustment in the forecast is due in part to Canada’s weakening economy. In a statement to the House of Commons made on August 19th, Bank of Canada’s Governor Mark Carney indicated that the Canadian economy has not only slowed down, but in the second quarter there has been “slightly negative growth”.

There have been many factors at play influencing the slowdown for the Canadian economy. In addition to the strength of the Canadian dollar, there have also been supply disruptions stemming from Japan’s tsunami and earthquake this year. The global economic outlook, specifically the European debt crisis and slow recovery of the U.S. recession have increased the instability of the financial markets.

To cope with the slow growth, many economists believe the Bank of Canada (BoC) will not increase rates until the second quarter of 2012, pushed back from the fourth quarter of 2011. Many economists made their revisions after hearing the U.S. Federal Reserve’s announcement promising to keep interest rates extremely low until mid-2013.

With the uncertainty in the markets, it means that rates will likely stay low until 2012. In addition, recent report by the Canada Mortgage and Housing Corporation announced in its most recent quarterly financial report that refinances had dropped 40%. This drop happened shortly after mortgage lending rules were modified, meaning that individuals could only borrow up to 85% of their homes value. Refinancing can be an advantageous way not only to use the equity in your home for important purchases, but it would allow you to benefit from the very low rates.

Talking to a mortgage professional is the first step in learning more information about refinancing. The rates are currently still extremely low, and locking into a rate will save you money in interest when those rates do begin to rise.

Statement issued by one of my mortgage brokers Parmida Modiri.

interest rates

Record or near-record activity reported in most major centres from coast-to-coast

Improved financial standing among high net worth individuals is the major factor driving strong sales activity at the top end of Canadian housing markets, according to a report released by RE/MAX.

RE/MAX Ontario-Atlantic Canada and RE/MAX of Western Canada examined 12 major centres from coast-to-coast and found that luxury sales have surged in close to two-thirds of housing markets between January 1 and April 30 of this year, compared to the same period in 2010. Leading in terms of percentage increases over the four-month period were Greater Vancouver (118 per cent)—where foreign investment has also played a major role—Ottawa (59 per cent), Calgary (51 per cent), Halifax-Dartmouth (27 per cent), Winnipeg (24 per cent), Hamilton-Burlington (13 per cent) and Greater Toronto (nine per cent). Six of the seven major cities—with the exception of Calgary—are poised to set new records in top-end activity by year-end. Several are just short of peak levels reported in 2010, such as Victoria, Regina, and London-St. Thomas.

Three key factors—serious equity gains, stock market recovery, and improved economic performance—have been behind the push for luxury housing product across the country. The combination also continues to bolster the bottom line of high net worth individuals both nationally and globally. The impact of that wealth is being seen in the demand for all things luxury—from homes to cars, collectibles and fine wines.

While foreign investment has augmented sales activity in several Canadian markets, its influence was only significant in Greater Vancouver. The vast majority of regions reported that locals were the primary drivers of demand for luxury product. A number of factors position Canada as an attractive option, foremost that its real estate remains a bargain by international standards, given its ranking for quality of life, political and economic stability and the strength of its property laws. To those from abroad, it’s the perfect mix.

The strength of the upper-end segment continues to defy expectations. That demand remains largely domestic speaks to the solid underpinnings of the market, while underscoring the appeal of Canadian real estate on an international stage. Western Canada, in particular, will continue to see the upside benefit of investment from abroad.

The climbing wealth factor has played a role. The financial status and number of millionaires is rising once again—a fact supported by several recent studies released by notable institutions such as CapGemini/Merril Lynch, Citi Private Bank, Deloitte Centre for Financial Services, and Investor Economics—to name a few. While estimates vary, the studies concluded that the high net worth population in Canada and/or abroad—and its corresponding fortunes—is trending upward and will experience considerable expansion moving forward. Despite the impact of the 2008/2009 global financial crisis, most millionaire portfolios/assets have improved or exceed pre-downturn levels. Of particular interest, residential real estate holdings have increased among high net worth individuals, as they express a clear preference for tangible assets. This trend is expected to continue, and serve to boost high-end residential real estate in months ahead, as the move to diversify assets continues in 2011.

As Canada’s millionaire club swells in size, inventory will play an increasing role in future, as the existing upper end housing stock struggles to keep pace with growing demand in central core areas, particularly in Canada’s gateway centres. Infill, renovation and new construction are helping to some extent—while driving up prices in tandem. The building activity is also serving to create new prime areas in areas that were once considered high-end peripherals, as well as in suburban communities.

Limited inventory levels in Canada’s largest markets have hampered sales activity to some extent in 2011, given that demand exceeds available supply. Multiple offers are occurring in both Greater Vancouver and Greater Toronto, as buyers compete for quality product in prime neighbourhoods.

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Revenue Minister Sophia Aggelonitis and the OREA Immediate Past President, Dorothy Mason, released a video explaining to prospective buyers the facts about HST and the housing market.

“Buying a home is one of the most important investments a person will make in their lifetime. That’s why I’m pleased to be working with OREA to provide information about purchasing a home in Ontario,” said Minister of Revenue Sophia Aggelonitis.

The video highlights the fact that there is no HST on the purchase price of resale homes. Sales tax did not apply to the purchase price of resale homes under the previous PST, and it does not apply under the HST.

“A resale home costs tens of thousands of dollars less than many Ontarians think because HST does not apply to residential resale transactions,” said Dorothy Mason, OREA’s Immediate Past President.

For new housing, additional tax only applies to theportion of the price above $400,000.

The Ontario Enhanced New Housing Rebate means that buyers of new homes receive a rebate of up to $24,000 regardless of the price of the new home. Buyers of new homes priced up to $400,000 (about three-quarters of new homes built in Ontario) on average pay no more – and possibly even less – tax than under the previous PST, where sales tax was hidden in the price.

Learn more about the HST and Ontario’s Tax Plan for Jobs and Growth at www.ontario.ca/taxchange.

Buying, Condo, Home, HST, tax

Mississauga, ON (April 5, 2011) — Driven by the threat of higher interest rates down the road, first-time buyers are contributing to strong upward momentum in residential housing markets across the country, according to a report released today by RE/MAX.

The RE/MAX First-Time Buyers Report, highlighting trends and developments in nineteen major Canadian centres, found that low interest rates and balanced market conditions have provided significant impetus in 2011, particularly at lower price points. Just over 30 per cent of markets are reporting sales in excess of 2010 levels as a result, while almost 70 per cent have experienced an upswing in average price. Leading the country in terms of percentage increases in the number of homes sold are Western Canadian markets, including Saskatoon (up close to 15 per cent), Greater Vancouver (up close to 12 per cent), and Winnipeg (up just over 11 per cent). With an average price hike of close to 20 per cent year-to-date (February), Greater Vancouver continues to show unprecedented strength, followed by Hamilton-Burlington (eight per cent), Quebec City (seven per cent), Winnipeg (close to seven per cent), Greater Toronto (five per cent), and Greater Montreal (five per cent).

“Despite homeownership rates approaching 70 per cent, there is clearly room for growth as entry-level buyers make their moves from coast-to-coast, undeterred by higher housing values and changes to lending criteria” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “Many purchasers intent on realizing homeownership are scaling back on expectations or are willing to sacrifice location, quality and/or size to make their dream a reality – not unlike generations before them.”

Inventory levels, while tight in several larger centres, are more balanced overall, giving first-time buyers a good selection of housing product from which to choose. Not surprisingly, condominium apartments and town homes have become the first step for many entry-level purchasers, especially in Greater Vancouver, Victoria, Kelowna, Edmonton, Calgary, London-St. Thomas, Hamilton-Burlington, Greater Toronto, the Island of Montreal, and Halifax-Dartmouth where average prices have risen unabated in recent years.

“With the Canadian economy on firmer footing overall, residential real estate is well-positioned moving into the traditionally busy spring market,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “Consumer confidence is climbing in conjunction with economic performance, and concerns over a secondary recession fade with each passing day. The mood is cautiously optimistic, as first-time buyers enter the market.”

Changes to recent financing criteria have not created the anticipated run up in activity in most markets. From a financial standpoint, most rookie home buyers remain quite prudent. Those making the leap are not doing it lightly, buying within their means. While this most recent round of policy tightening will likely have a negligible effect on demand, the message is getting across.

Affordability remains a growing concern in most markets, and—aside from first-time purchasers—no one is more in tune with that than housing planners and developers. In fact, the growing demand for reasonably-priced product is creating a shift in the country’s housing mix. That trend is expected to gain traction in coming years, as builders look to create greater options for those seeking to realize homeownership. In recent years, builders have helped ease the move to homeownership by concentrating on intensification—condominium buildings with smaller suites and small-lot subdivisions offering detached, compact homes at a raction of the cost of a traditional single-family home. On the flip side, the affordability factor is also breathing new life into tired older neighbourhoods, and that, in
turn, is contributing to rising values.

As prices escalate, first-time buyers are indeed spending more—some out of necessity, but others aresimply in a position to do so. Unlike in years past—a greater percentage of today’s first-time buyer pool is comprised of dual-income, college or university-educated couples with solid earnings. They’re spending close to average price or slightly more to secure—in most cases—a better location or a home that will grow with them. Yet, the fact remains that those on a tighter budget can get in forconsiderably less, with reasonable choices in every major market across the country. While some may feel discouraged by eroding affordability levels, the underlying confidence in the concept of homeownership is rising.

“While market conditions are one thing that influences first-time buyers, few things trump the fundamental belief in homeownership,” says Sylvain Dansereau, Executive Vice President, RE/MAX of Quebec. “Today’s entry-level buyers are steadfast in their mindset. They know they have to live somewhere, but they simply don’t want to pay someone else’s mortgage. Savvy or practical, they remain a driving force. The bottom line is that the demand for entry-level product will remain steady. The role of starter homes in the marketplace is becoming ever more vital.”

afford, First Time Buyers, interest rates

By The Canadian Press

TORONTO – Two more of Canada’s big bank say they will lower some of their fixed rate mortgages as nervous investors move to bonds, causing a drop in long-term interest rates.

TD Bank (TSX:TD) and National Bank (TSX:NA) say their fixed five-year closed rates will drop 0.1 of a point to 5.34 per cent, effective Thursday.

The move follows similar announcements from Royal Bank of Canada (TSX:RY) and Bank of Montreal (TSX:BMO) Tuesday.

Four-year rates will fall 0.15 percentage points to 4.99 per cent at all four.

Seven-year rates will move 0.2 percentage points lower to 6.14 at TD, but will be unchanged at National, whose 10-year closed rate will fall 25 basis points to 6.4 per cent.

Fixed mortgage rates, which are closely tied to bond markets, tend to fall when traders shift investment activity from riskier equity assets toward bonds, which are considered safer.

Investors have been jittery over fears that a potential nuclear disaster in Japan could severely derail the global economic recovery.

In February, many of Canada’s big banks moved to raise their fixed mortgage rates as investors grew more confident about investing in equity markets and the global economy appeared stronger.

Bank, Mortgage, Rates

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It’s been a while since I written a blog post that was non Real Estate related, however there was a slight issue with my new phone that has been bugging me for days now.  Hopefully this can help anyone who was having the same question because finding the answer took FOREVER.  However after searching for hours and hours with no real luck yet from BB online support I think I found the answer to the problem!  Most ppl don’t know what im talking about either 

The problem is… When trying to scan a QR code (square bar code) that is NOT a bbm contact, ie. a link to a website, the phone just beeps and then resets to the contact list.  I found this other blog post that explains it all http://www.berryreview.com/2010/11/18/blackberry-messenger-no-longer-reads-website-barcodes 

It reads: by Ronen Halevy

“Yesterday ShvartzBerry asked me if something had changed with BlackBerry Messenger. He pointed out to me that his BlackBerry Messenger no longer let him scan URL links like the ones on BerryReview and App World and open it in the browser. I tried the same thing on my BlackBerry Torch with the latest BBM and it also does not work. It just scans the code, beeps, and then ignores it.

At first I thought it might be a fluke but it turns out that RIM did this on purpose. They just published the following issue statement:

Overview – When scanning a 2D barcode using the Scan a PIN Barcode or Scan a Group Barcode option in BlackBerry Messenger, the scan will occur but the application will appear to do nothing and return to the contact list.

Cause – This will happen when scanning a barcode that is not a BlackBerry Messenger contact or group barcode. BlackBerry Messenger is not designed to read non-BlackBerry Messenger barcodes such as URLs, text, or other information.

Resolution – This is a previously reported issue that has been escalated internally to our development team. A resolution time frame is currently unavailable.

Workaround – Obtain a barcode reader from an applicable third party vendor. To view a list of available applications for the BlackBerry smartphone, the BlackBerry App World storefront is available on the device or you can visit www.blackberry.com/appworld.

Hopefully RIM will add back this functionality in a future version of BBM. I really cannot believe that they have not built this feature into the camera natively in OS 6. They already have the code written so why limit it to App World and BBM. That is just stupid…”

So there you have it, we are forced (for now) to use AppWorld to scan QR codes that are not bbm contacts…. am I the only nerd that cares? lol

QR code beep error blackberry bbm