E.B.Dungey Realty Ltd. Brokerage

ALMONTE, ONTARIO, July 29, 2013 — The Government of Canada, the Government of Ontario and the Municipality of Mississippi Mills celebrated the official opening of 20 new affordable housing units at Country Street Residences—Phase 2 for low-income seniors and people with disabilities. The project received $2.38 million in funding from the federal and provincial governments. The construction of this project created up to 50 jobs in the Almonte area.

Gordon O’Connor, Member of Parliament for Carleton-Mississippi Mills, on behalf of the Honourable Candice Bergen, Minister of State for Social Development; the Honourable Linda Jeffrey, Ontario’s Minister of Municipal Affairs and Housing; Bill Dobson, Warden of Lanark County; and John Levi, Mayor of Mississippi Mills made the announcement today.

“Our government’s investment in Almonte is a testament to our commitment to increasing the number of affordable housing options for all citizens. These apartments include modern conveniences for residents and provide easier access to local services,” said MP O’Connor. “We remain focused on four priorities, as outlined by the Prime Minister, that Canadians care most about: their families, the safety of our streets and communities, their pride in being a citizen of this country, and of course, their personal financial security.”

“Our government is committed to working with partners and donors to provide safe and affordable housing to those who need it most,” said Minister Jeffrey. “Projects like Country Street Residences stimulate the local economy by creating jobs while at the same time offering residents a beautiful new home which will enhance the community of Almonte for many years to come.”

“Some people say it is a privilege to live in a home but I think it is a right to have a place to live in a state of dignity if you need or want it,” said Warden Dobson. “Thanks to the Mills Community Support Corporation for developing a healthy community.”

“This is an important addition to our housing stock in Mississippi Mills,” said Mayor Levi. “I would like to thank all three levels of government for their participation in this project. I hope the success of Country Street Residences encourages more development of this type of housing. This building provides a functional, bright and cheery environment for the residents.”

Country Street Residences—Phase 2 is located at 411 Country Street in Almonte. The 20-unit complex, comprised of 15 one-bedroom and five two-bedroom apartments for low-income seniors and people with disabilities, is supported by $2.38 million in funding through the Canada-Ontario Affordable Housing Program. The joint federal and provincial funding is complemented by over $52,000 in municipal financial incentives from the County of Lanark.

The Government of Canada, through CMHC, will invest approximately $2 billion in housing this year. Of this amount, $1.7 billion will be spent in support of close to 594,000 households living in existing social housing. In Ontario, this represents an estimated 237,950 households. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at-risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people.

Ontario continues to build new affordable housing and repair existing units for Ontarians with housing needs. Since 2003, Ontario’s funding commitment of nearly $3 billion is the largest affordable housing initiative in the province’s history. Ontario is supporting the creation of over 17,000 affordable rental housing units, making more than 263,000 repairs and improvements to social and affordable housing units, and providing rental down payment assistance to over 81,000 households in need. The province’s Long-Term Affordable Housing Strategy sets a strong foundation for a more efficient, accessible affordable housing system in Ontario.

Affordable housing is a key component of Ontario’s Poverty Reduction Strategy. To find out more about affordable housing in Ontario, visit www.ontario.ca/housing. For more information about the County of Lanark, visit www.lanarkcounty.ca.

To find out more about how the Government of Canada and Canada Mortgage and Housing Corporation are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642.

Media inquiries:

Dean D’Souza
CMHC
416-250-2760

Nancy Green
Lanark County
613-267-4200 ext. 2101

Mike Maka
Office of Minister Jeffrey
416-585-6842

See related speech

Article source: http://www.cmhc.ca/en/corp/nero/nere/2013/2013-07-29-1100.cfm

TREB President’s Column as it appears every Friday in the Toronto Sun’s Resale Homes and Condos section.

July 19, 2013 –
In a recent keynote address to Greater Toronto REALTORS®, David Chilton of The Wealthy Barber and Dragons’ Den renown remarked on how experiential activities are more valuable to him than most of his possessions, and his comments led me to reflect on the many benefits of owning a vacation property.

Not only does owning real estate represent a solid long-term investment, in the case of a cottage it also serves as a base from which to build lasting memories of summer fun with family and friends.

Now thanks to the cooperative efforts of REALTORS® throughout Ontario, finding the perfect vacation property is easier than you may think. Ninety-five per cent of REALTORS® throughout the province have access to CONNECT, a system that allows your REALTOR® to search and view the active listings and recent sales history from Multiple Listing Service® Systems throughout Ontario, including popular cottage country destinations like Muskoka, Grey Bruce and Haliburton. A recent advancement even allows listings from all Boards and Associations to be displayed to your REALTOR® on a single map of any given area. To find a property that is best suited to your needs, be sure to work with a REALTOR® who is very familiar with the area you have chosen.

A number of different options for financing a vacation home are available, and one fairly common approach involves making a purchase with extended family. If you plan to pursue this route, it’s important to establish that you have similar goals at the outset, given that a cottage can be perceived as a vacation getaway or as an investment with rental potential.

Be sure to give careful thought to your potential purchase’s future resale value as well. Driving distance and accessibility are two important factors in this regard, as are proximity to a nearby town or marina.  Consider whether there is access to telephone and hydro lines, and if emergency and waste management services are available. Drinking water quality and septic systems are also key considerations. 

Remember as well that you will have to set aside funds for property tax, insurance and utility costs.  Recognizing its added exposure to the elements, having the financial resources to maintain your cottage, from driveway to dock, is also crucial.

Given that cottage property divisions normally aren’t visually apparent, it is important to obtain a copy of the survey to be clear on the boundaries of your land, and as with the purchase of any property type, your REALTOR® can counsel you on permitted zoning uses and potential future development in the area. 

While there are a number of factors to consider, the professional advice of a REALTOR® can make buying a cottage that promises many years of summer fun a seamless process.  

For information on the process of buying or selling a property, plain language explanations of commonly used real estate forms, and details on government programs that may help with the purchase of your vacation home, consult with a Greater Toronto REALTOR® and be sure to visit TorontoRealEstateBoard.com

Dianne Usher is President of the Toronto Real Estate Board,
a professional association that represents 38,000 REALTORS®
in the Greater Toronto Area.

Follow TREB on www.twitter.com/TREBhome, www.Facebook.com/TorontoRealEstateBoard and www.youtube.com/TREBChannel

Article source: http://www.torontorealestateboard.com/market_news/president_columns/pres_sun_col/index.htm

TREB President’s Column as it appears every Friday in the Toronto Sun’s Resale Homes and Condos section.

July 19, 2013 –
In a recent keynote address to Greater Toronto REALTORS®, David Chilton of The Wealthy Barber and Dragons’ Den renown remarked on how experiential activities are more valuable to him than most of his possessions, and his comments led me to reflect on the many benefits of owning a vacation property.

Not only does owning real estate represent a solid long-term investment, in the case of a cottage it also serves as a base from which to build lasting memories of summer fun with family and friends.

Now thanks to the cooperative efforts of REALTORS® throughout Ontario, finding the perfect vacation property is easier than you may think. Ninety-five per cent of REALTORS® throughout the province have access to CONNECT, a system that allows your REALTOR® to search and view the active listings and recent sales history from Multiple Listing Service® Systems throughout Ontario, including popular cottage country destinations like Muskoka, Grey Bruce and Haliburton. A recent advancement even allows listings from all Boards and Associations to be displayed to your REALTOR® on a single map of any given area. To find a property that is best suited to your needs, be sure to work with a REALTOR® who is very familiar with the area you have chosen.

A number of different options for financing a vacation home are available, and one fairly common approach involves making a purchase with extended family. If you plan to pursue this route, it’s important to establish that you have similar goals at the outset, given that a cottage can be perceived as a vacation getaway or as an investment with rental potential.

Be sure to give careful thought to your potential purchase’s future resale value as well. Driving distance and accessibility are two important factors in this regard, as are proximity to a nearby town or marina.  Consider whether there is access to telephone and hydro lines, and if emergency and waste management services are available. Drinking water quality and septic systems are also key considerations. 

Remember as well that you will have to set aside funds for property tax, insurance and utility costs.  Recognizing its added exposure to the elements, having the financial resources to maintain your cottage, from driveway to dock, is also crucial.

Given that cottage property divisions normally aren’t visually apparent, it is important to obtain a copy of the survey to be clear on the boundaries of your land, and as with the purchase of any property type, your REALTOR® can counsel you on permitted zoning uses and potential future development in the area. 

While there are a number of factors to consider, the professional advice of a REALTOR® can make buying a cottage that promises many years of summer fun a seamless process.  

For information on the process of buying or selling a property, plain language explanations of commonly used real estate forms, and details on government programs that may help with the purchase of your vacation home, consult with a Greater Toronto REALTOR® and be sure to visit TorontoRealEstateBoard.com

Dianne Usher is President of the Toronto Real Estate Board,
a professional association that represents 38,000 REALTORS®
in the Greater Toronto Area.

Follow TREB on www.twitter.com/TREBhome, www.Facebook.com/TorontoRealEstateBoard and www.youtube.com/TREBChannel

Article source: http://www.torontorealestateboard.com/market_news/president_columns/pres_sun_col/index.htm

GTA REALTORS® Release Rental Market Report

July 16, 2013 — Greater Toronto Area REALTORS reported 5,853 condominium apartments rented through the TorontoMLS system in the second quarter of 2013. This result was up by approximately 23 per cent in comparison to the second quarter of 2012. The number of condominium apartments listed for rent was up by over 15 per cent to 10,284.

Condominium apartments rented out by investors have become an increasingly important part of the overall rental stock in the GTA, given that very few purpose-built rental properties have been completed over the last decade, said Toronto Real Estate Board President Dianne Usher.

Strong demand for condo rentals has come from households who want to live in up-to-date units but who are not ready to buy. These renter households include would-be first-time buyers who are waiting to save a down payment and/or benefit from increased incomes and new comers to Canada who often choose to rent before entering into the home ownership market, continued Ms. Usher.

Average rents for one-bedroom and two-bedroom condominium apartments increased well-above the rate of inflation on a year-over-year basis in the second quarter, reaching $1,611 per month and $2,174 per month respectively.

The fact that annual growth in rental transactions outstripped growth in the number of units listed for rent suggests that conditions in the GTA tightened over the past year and that the vacancy rate has remained very low. Strong competition between renters for available units has prompted continued upward pressure in average rents, said Jason Mercer, TREBs Senior Manager of Market Analysis.

.

Rental Market Summary Tables: Second Quarter 2013

Apartments

All Bedroom Types

Bachelor

One-Bedroom

Two-Bedroom

Three-Bedroom

Listed

Leased

Leased

Avg. Rent

Leased

Avg. Rent

Leased

Avg. Rent

Leased

Avg. Rent

Q2 2013

10,284

5,853

178

$1,335

3,184

$1,611

2,375

$2,174

116

$2,496

Q2 2012

8,893

4,762

143

$1,285

2,548

$1,556

1,945

$2,089

126

$2,625

Yr./Yr. % Chg.

15.6%

22.9%

24.5%

3.9%

25.0%

3.5%

22.1%

4.1%

-7.9%

-4.9%

Source: Toronto Real Estate Board

Townhouses

All Bedroom Types

Bachelor

One-Bedroom

Two-Bedroom

Three-Bedroom

Listed

Leased

Leased

Avg. Rent

Leased

Avg. Rent

Leased

Avg. Rent

Leased

Avg. Rent

Q2 2013

777

409

1

$925

39

$1,509

125

$1,822

244

$1,921

Q2 2012

804

366

0

-

31

$1,416

110

$1,677

225

$1,911

Yr./Yr. % Chg.

-3.4%

11.7%

-

-

25.8%

6.6%

13.6%

8.6%

8.4%

0.5%

For information about Buyer Representation Agreements
(BRA) visit www.BRAFirst.ca

For Media/Public Inquiries: Mary Gallagher, Senior
Manager Media Relations.

Toronto
Real Estate Board 1400 Don Mills Road Toronto, ON M3B 3N1, Office: (416)
443-8158, Email:maryg@trebnet.com

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 38,000 Members in the Greater Toronto Area,
the Toronto Real Estate Board is Canadas largest real estate board. Greater
Toronto Area open house listings are available on www.TorontoRealEstateBoard.com

Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2013/nr_rental_report_Q2-2013.htm

GTA REALTORS® Release Rental Market Report

July 16, 2013 — Greater Toronto Area REALTORS reported 5,853 condominium apartments rented through the TorontoMLS system in the second quarter of 2013. This result was up by approximately 23 per cent in comparison to the second quarter of 2012. The number of condominium apartments listed for rent was up by over 15 per cent to 10,284.

Condominium apartments rented out by investors have become an increasingly important part of the overall rental stock in the GTA, given that very few purpose-built rental properties have been completed over the last decade, said Toronto Real Estate Board President Dianne Usher.

Strong demand for condo rentals has come from households who want to live in up-to-date units but who are not ready to buy. These renter households include would-be first-time buyers who are waiting to save a down payment and/or benefit from increased incomes and new comers to Canada who often choose to rent before entering into the home ownership market, continued Ms. Usher.

Average rents for one-bedroom and two-bedroom condominium apartments increased well-above the rate of inflation on a year-over-year basis in the second quarter, reaching $1,611 per month and $2,174 per month respectively.

The fact that annual growth in rental transactions outstripped growth in the number of units listed for rent suggests that conditions in the GTA tightened over the past year and that the vacancy rate has remained very low. Strong competition between renters for available units has prompted continued upward pressure in average rents, said Jason Mercer, TREBs Senior Manager of Market Analysis.

.

Rental Market Summary Tables: Second Quarter 2013

Apartments

All Bedroom Types

Bachelor

One-Bedroom

Two-Bedroom

Three-Bedroom

Listed

Leased

Leased

Avg. Rent

Leased

Avg. Rent

Leased

Avg. Rent

Leased

Avg. Rent

Q2 2013

10,284

5,853

178

$1,335

3,184

$1,611

2,375

$2,174

116

$2,496

Q2 2012

8,893

4,762

143

$1,285

2,548

$1,556

1,945

$2,089

126

$2,625

Yr./Yr. % Chg.

15.6%

22.9%

24.5%

3.9%

25.0%

3.5%

22.1%

4.1%

-7.9%

-4.9%

Source: Toronto Real Estate Board

Townhouses

All Bedroom Types

Bachelor

One-Bedroom

Two-Bedroom

Three-Bedroom

Listed

Leased

Leased

Avg. Rent

Leased

Avg. Rent

Leased

Avg. Rent

Leased

Avg. Rent

Q2 2013

777

409

1

$925

39

$1,509

125

$1,822

244

$1,921

Q2 2012

804

366

0

-

31

$1,416

110

$1,677

225

$1,911

Yr./Yr. % Chg.

-3.4%

11.7%

-

-

25.8%

6.6%

13.6%

8.6%

8.4%

0.5%

For information about Buyer Representation Agreements
(BRA) visit www.BRAFirst.ca

For Media/Public Inquiries: Mary Gallagher, Senior
Manager Media Relations.

Toronto
Real Estate Board 1400 Don Mills Road Toronto, ON M3B 3N1, Office: (416)
443-8158, Email:maryg@trebnet.com

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 38,000 Members in the Greater Toronto Area,
the Toronto Real Estate Board is Canadas largest real estate board. Greater
Toronto Area open house listings are available on www.TorontoRealEstateBoard.com

Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2013/nr_rental_report_Q2-2013.htm

GTA REALTORS® Release Second Quarter Condo Market Report

July 16, 2013 — Greater Toronto Area REALTORS® reported 5,984
condominium apartment transactions through the TorontoMLS system in the second
quarter of 2013.  This result was down by
approximately six per cent in comparison to the second quarter of 2012.  The number of active listings at the end of
the second quarter was up year-over-year by less than 2.5 per cent, while new
listings were down by slightly more than four per cent.

“The
GTA condominium apartment market has been the subject of much discussion
recently, due in large part to the number of new units completed over the past
two years and the number of units that remain under construction.  With this in mind, it is important to point
out that the condo market has fared quite well.  Even with sales down and the number of active listings up, the average
selling price has found support at current levels,” said Toronto Real Estate Board (TREB) President Dianne Usher.

The average selling price for condominium apartments in the
second quarter was $347,896 – up by 1.7 per cent
compared to the average of $342,148 in the second quarter of 2012.  The MLS® Home Price Index (HPI) apartment benchmark price was also up by approximately
one per cent over the same period.

“While
active listings were up year-over-year in the second quarter, it is interesting
to note that new listings were down over the same period.  If the number of new listings continues to
drop in the second half of 2013 and the sales situation improves, we could see
the pace of condo price growth accelerate as market conditions tighten,” said Jason Mercer, TREB’s Senior Manager of
Market Analysis.

Condominium Apartment Market Summary

Second Quarter 2013

2013

2012

Sales

Average
Price

Sales

Average
Price

Total TREB

5,984

$347,896

6,375

$342,148

Halton Region

127

$327,748

118

$332,957

Peel Region

885

$258,350

984

$264,537

City of Toronto

4,281

$372,805

4,486

$364,342

York Region

551

$332,928

620

$340,143

Durham Region

128

$226,378

158

$217,417

Other Areas

12

$262,048

9

$213,411

For information about Buyer Representation Agreements
(BRA) visit www.BRAFirst.ca

For Media/Public Inquiries: Mary Gallagher, Senior
Manager Media Relations.

Toronto
Real Estate Board 1400 Don Mills Road Toronto, ON M3B 3N1, Office: (416)
443-8158, Email:maryg@trebnet.com

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 38,000 Members in the Greater Toronto Area,
the Toronto Real Estate Board is Canadas largest real estate board. Greater
Toronto Area open house listings are available on www.TorontoRealEstateBoard.com

Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2013/nr_condo_report_Q2-2013.htm

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Article source: http://www.cmhc.ca/en/corp/nero/nere/2013/upload/2013_07_09_0815_EOT.pdf

TREB President’s Column as it appears every Friday in the Toronto Sun’s Resale Homes and Condos section.

July 5, 2013 –
New beginnings at the Toronto Real Estate Board, Dianne Usher, an accomplished leader will represent Greater Toronto REALTORS® as our professional association’s President throughout the next year.

Dianne began her career as a real estate salesperson just north of the city in 1978, earning a broker designation and managing a small sales group shortly thereafter. It wasn’t long though, before her career with Royal LePage brought her back to the central core.  

Today, she serves as Vice President of Royal LePage’s Johnston and Daniel division, a fitting position for a strong female leader given that the division traces its roots to Robert Johnston and Eggerton Daniel, who in 1950 pursued the novel idea of hiring the women who lived in Toronto’s most prestigious neighbourhoods – Rosedale, Moore Park, Forest Hill and Lawrence Park – to sell homes.

Despite the demands of her position, Dianne routinely offers her time to advocate for Greater Toronto Area home buyers and sellers on issues that affect your life’s most significant transaction.  A registered lobbyist, Dianne has shared the perspectives of Greater Toronto REALTORS® and their clients with legislators on numerous issues including the Toronto Land Transfer Tax, the Condominium Act and standards for home inspectors.

With Ms. Usher as TREB President, you can count on the fact that making your voice heard at City Hall, at Queen’s Park, and on Parliament Hill will be a priority.

She is also committed to supporting the professional development pursuits of Greater Toronto REALTORS® so that they continue to have the tools and know-how to represent your needs amid the fast evolving technology advancements and legislative requirements of our sector.

Having previously served as a Director of the Canadian Real Estate Association, a Director and President of the Ontario Real Estate Association, and a Director and President of the York Region Real Estate Board, Dianne is no stranger to taking the reigns and working to achieve consensus among large groups. 

Her recent contributions to TREB alone include Chairing the Communications, Education, Consumer Relations and Condominium Committees. This year, she has served as Chair of the Government Relations Committee and Vice-Chair of Finance.

Confident that in the months ahead, not only will Greater Toronto REALTORS® benefit from her depth of experience, so too will you as she shares her insight in this column on emerging issues and helpful tips you can use in your next real estate transaction.

To learn more about the process of buying and selling a home, talk to a Greater Toronto REALTOR® and be sure to visit www.TorontoRealEstateBoard.com where you will find updates on the market, information on government programs that may benefit you, and plain language explanations of commonly used real estate forms.

Dianne Usher is President of the Toronto Real Estate Board,
a professional association that represents 36,000 REALTORS®
in the Greater Toronto Area.

Follow TREB on www.twitter.com/TREBhome, www.Facebook.com/TorontoRealEstateBoard and www.youtube.com/TREBChannel

Article source: http://www.torontorealestateboard.com/market_news/president_columns/pres_sun_col/index.htm