Ten Things you should know about before moving to Toronto.

Ten Things you should know about before moving to Toronto.




1) Toronto has 4 seasons . We range from 0 degrees Celsius 32 degrees fahrenheit in the winter 4 months December to March. In the Summer mid-June to August we average 14-16C, 60-70 degrees, in Fall September to November our Fall leaves turn all sorts of beautiful colours at 10-14C, 50-60F and in the Spring from April to mid-June we rejuvenate and fluctuate at 5-15C, 45-75F. Variety is the spice of life and right here we have it all. Multi-cultures and Seasons alike.
Toronto Weather and Climate Chart - Toronto, Ontario (ON), Canada
Maximum Minimum
Toronto weather in January 1°C / 34°F -6°C / 21°F
Toronto weather in February 0°C / 32°F -7°C / 19°F
Toronto weather in March 6°C / 43°F -2°C / 28°F
Toronto weather in April 6°C / 43°F -1°C / 30°F
Toronto weather in May 12°C / 54°F 5°C / 41°F
Toronto weather in June 21°C / 70°F 13°C / 55°F
Toronto weather in July 22°C / 72°F 14°C / 57°F
Toronto weather in August 22°C / 72°F 15°C / 59°F
Toronto weather in September 18°C / 64°F 11°C / 52°F
Toronto weather in October 13°C / 55°F 6°C / 43°F
Toronto weather in November 5°C / 41°F 0°C / 32°F
Toronto weather in December 3°C / 37°F -1°C / 30°F



2) Sometimes it snows but for the most part being north of Lake Ontario we have a pretty mild winter, unless of course you were here this year of 2008 and experienced the most snow we have had over 100 years. No Global warming here! Poor Buffalo seems to get a "wek" of it though.

3) Toronto has a lot more than a Film Festival, or a Hockey Team. We are home to the Mirvishes where some of the best theatre in North America can be enjoyed. We have all the Sports teams or lack thereof and we love them too much, so much so they compete with the best but never seem to be able to be passionate enough , fans and players to care about winning. Our Blue Jays did win the World Series two years running back in 92-93 but since the strike we have never been the same. We need your enthusiasm.

4) Excuse me, we are a polite people, sorry! On a boat we like to wave, on a street we like people to have the right of way and on the highway we generally keep our frustrations window down, finger up.

5) Traffic Rules in Toronto. Since one of our Conservative governments allowed a foreign company to rule a Highway, 407 to be precise we now get tolled monthly and they take pictures of our plates. But it is a beatifully fast highway that is supposed to take the big bad trucks away. I think gas prices will do that just fine. We are presently at $1.20 a litre for gas and unfortunately that equates to about $4.45 a US gallon quite a bit higher than our American counterparts average.

6) Toronto is a great melting pot of about 2.5 million people and our GTA brings us up to 5 million people. Recently we became a Megacity when our five boroughs joined together in holy or pot-holey matrimony and still Etobicoke is the place to live. 10 minutes from the airport 15 minutes from Downtown and super-highways ready to take you anywhere fast. Hwy 401, 427,QEW, 407 all run through Etobicoke. Sorry thats just where I live.

7) Toronto is closer to the great USA than anyone else but we have the tastes of all worlds at our door. Pierre Elliott Trudeaus vision of multiculturism has created the most diverse cuisines available anywhere in the world. Although we don't seem to do Mexican that well we more than make up for it with our French bilingualism, our Italian and growing Asian populations and many European influences. The restaurants are plentiful , clean , all non-smoking and DineSafe so we can all enjoy the fabulous varieties.

8) Yonge Street( or Highway Eleven as its known out of town) is the longest street in the world. That stands at least until Guinness book of Records replaces it and it divides our great city and the GTA right down the middle. It starts at Lake Ontario one of the Great Lakes and takes us through the Downtown north to Cottage Country and keeps on going for over 1800 kilometers.

9) We love to laugh at ourselves mostly. These fellows represent our sense of humour. Mike Meyers, Howie Mandel, John Candy, Dan Akroyd and Jim Carrey are all Canadian comedians that were either born, or lived and love Toronto.

10) Last of course is Etobicoke. In the west end of Toronto, closest old borough to the world (Lester B. Pearson Airport)and minutes away from the action.

For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

B4 Moving Day

Wednesday, February 6, 2008

Great way to get rid of OLD STUFF!

For Etobicoke where I live we found this great little site for items that you can"t get rid of on Craigslist or Kijiji but people actually will come and pick it up if its free. Recyclers they like to be called. When your moving you will undoubtably come across dead or barely living stuff. You know like what do you do with all the boxes after they are emptied or bed frames, bookshelves, work benches, garden tools stuff that is mostly unwanted. Old computers, old sports equipment, old books all sorts of old stuff. You have to register and the emails will start coming. You just post your stuff and they will come rain or shine. And they show up. The site is at http://www.groups.yahoo.com/ and in find a yahoo group enter in the search button "Freetobicoke"Try it. It really helps you get rid of stuff without paying to have it removed.

For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Condo Lifestyle makes good cents.

In the following report you will see that Condos are no longer a market waiting to happen. They are here now and a force to be reckoned with. As reported earlier in the year Condo sales are in double digits and appealing not only to the first time buyer but the baby boomers are looking for larger units to replace their homes. 2008 will see a continuing pace for all of these reasons.

ReMax Condominium Report 2007
Greater Toronto Area

Unprecedented demand for condominium apartments and town homes buoyed solid year-over-year appreciation in both sales and price in the Greater Toronto Area (GTA) in 2007. Condominium sales have climbed 14 per cent to 25,072 units, up from 21,950
one year ago—and now represent approximately one in every three homes sold (30.5 per cent) in the GTA. The upward trend has been particularly evident in the downtown core, where double-digit increases in condominium values occurred for the first time in
the last decade. 2007 also marked the first year that resale condominium apartments and town homes in the downtown core experienced bidding wars, especially on product priced between $300,000 to$400,000. Low inventory levels have been in large part responsible for the upswing, with well-priced listings generating multiple offers. Demand has outpaced supply of condominium apartments and town homes
in many core neighbourhoods throughout the year. In Cabbagetown, for example, the sales-to-listings ratio for town homes has been well over 100 per cent.
The upper-end of the market has been particularly vibrant, with 126 sales reported over the $1 million mark so far this year, up close to 97 per cent from 64 sales one year earlier. New condominium product has been extremely well-received, with line-ups at sales centres the norm for most of 2007. The most successful launches—1 Bloor, Festival Tower, L Tower and Pier 27—were also the priciest at price per square foot from $600—$1,000. Most new projects are in the $450 dollar per square foot range. Across the GTA,
condominium units priced between $200,000 and $300,000 were most popular, with 43 per cent of apartment sales and 48 per cent of town home sales occurring in this price range. Affordability continued to draw first-time buyers to condominium ownership this year. Close to 32 per cent of apartment and 28 per cent of town home sales occurred under the $200,000
price point. Entry-level purchasers lead the charge for condominium product in 2007, stimulating sales of apartments and town homes from Scarborough to Mississauga. Demand for town homes continued to escalate, especially in areas such as Liberty Village, where more and more young families have discovered the advantages of downtown living. Developers
have also responded to growing demand from aging baby boomers for larger units situated in bluechip neighbourhoods. The impact is best illustrated in the Yorkville area where units in several condominium buildings under construction now start at a cool $1 million. Investors have also jumped into the fray, now representing a sizable segment of the downtown market. In fact, an estimated 60 to 85 per cent of sales in new condominium developments involved investors this year, up from 30 to 50 per cent in 2006. The condominium lifestyle has gained
considerable momentum in recent years and the market still has room to grow. Further price
appreciation is anticipated in the year ahead, with the most substantial increases forecast for the downtown core. Given a continuation of current economic fundamentals, sales of both apartment and town house units are also expected to climb, rising by three
to five per cent by year-end 2008.

For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Islington Heights In case you missed the article

Huge lots, sweeping trees and a golf course
Islington Heights
Suzanne Wintrob, National Post Published: Saturday, December 08, 2007
Story Tools

The two Islingtons sit on either side of the aptly named Islington Golf Club. Due south there's the Village of Islington, with historical murals, sweeping trees and new condos and rentals lining the main retail drag. Head north and it's a sleepy little suburbia dubbed Islington Heights, where grown-up kids return with families of their own and monster homes are de rigueur.
Average house price Huge lots -- up to 90 feet wide near the golf course -- command big prices. Get an original wartime boxy bungalow on a 50x125-ft. lot close to Kipling Avenue for $600,000 or a 1960s ranch bungalow with gigantic basement on a 65-ft. lot closer to Islington Avenue for $800,000. Then knock it down and put up a 4,000-sq.-ft. four-bedroom knockout with outdoor pool -- price tag: $1.5-million. On sale now: a $2-million four-bedroom new build on a 70x131-ft. Bywood Drive lot backing on to the golf course, with $11,000 in taxes. Empty nesters head to Barclay Terrace, where 1,450-sq.-ft. three-bedroom condos sell for $500,000.
Demographics Professional couples in their 40s and 50s who grew up in Etobicoke and are returning with school-aged kids in tow. They work downtown and spend summers at the cottage, but when they're home they stick to their big house and sprawling property. Not many street parties here.
Local schools Rosethorn Jr. closed in the early 1980s because there weren't enough kids to deck the halls, but today it's a coveted school thanks to French immersion. From there, it's on to Humber Valley Village Middle and Etobicoke Collegiate; nearby is private Kingsway College.
Local parks There's a little parkette tucked away at the end of Greak Oak Drive, but the action is at Rosethorn Park, where kids play baseball and soccer, and adults try love on the tennis court.
Transit There are buses to Islington and Kipling subway stations and an Anglesey bus along Rathburn. But most jump in their comfy cars and take the nearby Queen Elizabeth Way to the Gardiner Expressway and head downtown, a 30-minute drive in rush-hour traffic.
Retail No stores here, so they walk to little Thorncrest Plaza for IGA groceries, Rizo giftware, Candy Hut and other necessities. It's a car ride to Loblaws and Bruno's Fine Foods at local plazas, the shops of the Kingsway and Bloor West Village, or Sherway Gardens.
Dining No restos here, so they head to Java Joe's at Thorncrest Plaza, Oregano Grill on Dundas or the eateries of the Kingsway.
Local trivia Many belong to the Islington Golf Club, where tongues still wag about the guy who built a house at the edge of the fairway and then took the club to court when balls started flying into his backyard. He won, forcing the club to rearrange the holes, cut down century-old trees and put up a net.
For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Getting ready to sell and move to a Condo.

Getting the home ready for selling is at best a long term project that should start when you move in.
Well if not then , thaen definitely shortly thereafter. It sure would save a lot of time. First you make a list of what has to go and whether you wish to face up to it or not DECLUTTER is the best. It is not the 60"s when your parents stretched the dollar so far to make room for more kids. Excess makes a mess. And this is not the time to do all the fun stuff like picking a realtor, pricing your home and cleaning up. http://www.etobicokehomes4sale.com/selling-process.htm It has to be ongoing, non-stop cause when your getting ready to downsize all that big stuff that used to fill your house has to go. Condos, if they have one main room or townhomes being 14 feet wide are not going to handle any of your stuff. The time is now . If you want a quick way to find a condo try out this new MLS tool that helps you break it down real fast. Good Luck
http://www.etobicokehomes4sale.com/mls-ca-real-estate-etobicoke.htm

For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Condos Sales are Soaring in Etobicoke

Condos whether they be high rise or boutique or townhome they are making a lot more sense now than ten years ago. Definitely they are easier to maintain, more secure and now increasing in value due to the latest trends. Boomers kids are out of school and the home is looking big and lonely. The pool attention is now all upkeep with the gang all gone. Its time to travel and what makes more sense than condo living.
Toronto condo sales spiked in September, report says
If you want to own a home in Toronto, you better be prepared to live in a condominium.
RealNet Canada says six out of every 10 new homes sold in the city are now high-rise condominium units. Condo sales in September were up 66% from a year ago.
Last month was extraordinary but for the first nine months of the year condominium sales were up 31% from a year ago.
“It’s getting to sound like a bit of a broken record but the condo market is the market story of 2007,” says Bob Finnigan, president of the Building Industry and Land Development Association in Toronto.
It is not hard to surmise why condo sales are going through the roof — they represent a cheap alternative to single family detached homes in Toronto’s strong real estate market.
Garry Marr


For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Best June Ever!

Best June Ever!

July 6, 2007 -- Last month the Toronto Real Estate Market recorded 10,451 sales for the best June performance ever, Toronto Real Estate Board President Donald Bentley announced today. "June's figure was up almost 20 per cent over the 8,730 sales recorded during the same month in 2006, and down only slightly (six per cent) from May's best-ever figure of 11,146 sales. To get some idea of the current strength of the market: there have been more sales in the last two months (21,597) than occurred in all of 1977 (20,512), thirty years ago this year."
While the sales pace remained brisk, average prices declined marginally (less than one per cent) from May to $381,963. The year-to-date average was $373,719, up five per cent over the first six months of 2006 ($356,977).
"Price increases remain only modest," noted the President. "Inventory, at 21,789, is robust enough to keep a lid on upward inflation. The current market is still accessible to first-time buyers, and should continue in this mode for the foreseeable future."
Breaking down the total, 3,936 sales were reported in TREB’s 28 West districts and averaged $356,513; 1,819 sales were reported in the 14 Central districts and averaged $513,491; 2,248 sales were reported in the 23 North districts and averaged $406,565; and 2,448 sales were reported in TREB’s 21 East districts and averaged $302,558.
NEIGHBOURHOOD CORNER
Etobicoke
In Etobicoke (W-6 to W-10) there have been 2,734 sales to date, up 13 per cent over the January to June period of 2006. The average price was $399,525, up four per cent over the $383,220 recorded during that earlier time frame.


For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

February Cold, Real Estate Hot, Condos Hotter

Get your home ready , check out http://www.etobicokehomes4sale.com/selling-process.htm

Condos are hot in Mimico .Strong condominium apartment sales in Mimico / New Toronto "W06" contributed to a 29 per cent increase in overall transactions compared to a year ago.

In the Islington / Kingsway area of Etobicoke, a jump in condominium transactions helped to push overall sales 42 per cent higher than January 2006.

February stays right on track

March 6, 2007 -- Resale housing activity in the month of February was slightly higher than a year ago, Toronto Real Estate Board President Dorothy Mason announced today. A total of 6,772 transactions took place in the month, as compared to 6,756 in February 2006.
"Sales activity has been strong to begin the year," Mrs. Mason said. "Results from the first two months show that so far 2007 is five per cent ahead of last year’s pace."
"The important thing is that we are seeing strong results on a consistent basis, which speaks volumes about the stability of the market,” Mrs. Mason added. “As we head into the most active part of the year, it's an excellent time to get into the market for the first time or make a switch to a different home."

For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Best January Ever

Best January Ever!

February 6, 2007 -- The new year got off to a fast start, with 5,173 sales of existing homes in January, TREB President Dorothy Mason announced today. "This figure is up 13 per cent over last January, and up six per cent over the 4,869 sales recorded in January of 2002, which was the previous record for the month."
Meanwhile, average prices climbed in January to $353,724, up five per cent over December and up six per cent over the $332,687 recorded in January 2006. "While one shouldn't read too much into a single month's result," the President said. "January's record breaking performance is an encouraging sign for the year ahead."
Breaking down the total, 1,975 sales were reported in TREB’s 28 West districts and averaged $335,116; 878 sales were reported in the 14 Central districts and averaged $462,211; 1,082 sales were reported in the 23 North districts and averaged $383,806; and 1,238 sales were reported in TREB’s 21 East districts and averaged $280,178.

For Etobicoke encompassing W6-W10 Districts recorded 269 sales a 9 % increase over 2006 for the same month. The average price was $353,404.00 down 1% over$357,017.00 recorded during January of 2006. In addition there were 123 sales of detached homes in Etobicoke which averaged $471,965.00 a 8.0 % increase over the same time period last year. ($434,471.00)

For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Effects of US housing market slide as seen by TD - Canada Trust

THE DECLINE AND FALL OF THE U.S. HOUSING MARKET: WILL THE BROADER ECONOMY FOLLOW?

October 2, 2006

The U.S. housing sector directly contributed more than $2 trillion to the national economy in 2005 and accounted for one-quarter of real GDP growth. Don’t expect a repeat performance any time soon. Data over the past five months show that the housing market is in the midst of a correction. The supply of detached resale homes has hit a 13-year high, affordability has eroded to late-1980s levels, and all three major housing markets – new, existing and construction – have absorbed double-digit declines in activity relative to last year.

The question is not whether the housing market correction will dampen U.S. economic growth over the next year. It will. The cliffhanger is whether it can single-handedly tip the economy into a recession. Indeed, the current housing cycle is already mirroring trends leading into past recession cycles. So why would it be different this time?

To evaluate the risk of an economy-wide recession, we cannot look at the housing sector in isolation. Other factors also enter into the equation, such as interest rates, inflation, labour market conditions, inventory overhang and the overall health of Corporate America. These influences bear little resemblance to patterns seen in prior pre-recession cycles, and we believe this tips the scale in favour of an economic slowdown rather than a recession.

The importance of housing in the American economy

The real estate sector has been punching above its weight in the American economy since the housing boom gained traction in 2002. More and more jobs, incomes and consumption have become leveraged to the performance of the housing market over the past four years – leaving little doubt that a housing correction will have knock-on effects to the broader economy. In fact, housing-related indicators alone leave the impression that a recession is just around the corner.
There are three main ways in which the housing boom has weaved its way through the economy. There is the direct link of residential investment, which accounts for 5.5% of real economic activity, a share that has risen a full percentage point in just four years. This sector has consistently contributed about half a percentage point to real GDP growth since 2002, twice its historical norm. Over the next year, however, the opposite is expected to be true, with residential investment shaving half a percentage point from annual economic growth. On its own, this would be a barely audible hiccup in the economic expansion, but residential investment has been a heavyweight in influencing recent labour market conditions.

Construction and real estate jobs are to credit for one-fifth of all American job growth in the past four years. This is remarkably disproportionate to its size in the labour market. For instance, the construction industry accounts for less than 5 per cent of all jobs. Not surprising, regions that had the greatest gains in home prices during the boom also experienced the most robust demand for construction workers. New England can thank the construction sector for more than one-third of all job growth over the past four years (August 2002-August 2006). The respective shares in California and Nevada are similarly high at 28 and 24 per cent. A pull back in housing, therefore, presents a clear and present danger to employment, and hence incomes and consumption across America.

And the impact from housing doesn’t end there. The third and biggest influence has come through two arteries of consumption: direct housing-related purchases and the wealth effect. The former includes the likes of furniture, appliances and other expenditures related to household services and operations. These purchases accounted for just over 18 per cent of the real economy in 2005. Meanwhile, housing wealth effects have been fueled by the rapid appreciation in home prices coupled with record levels of refinancing and home equity withdrawals. Unfortunately, the peak in refinancing has already long passed and if current declining trends continue through this year, refinancing activity will have slumped over 60% from 2003. Meanwhile, cashed-out home equity is projected to fall by 40% in 2007 alone!

The significance of this should not be overlooked. In the past three years, we estimated that housing wealth effects accounted for, on average, 2 percentage points of the annual growth in real consumer spending each year. The U.S. is now facing a situation where the unwinding of housing wealth effects will drag consumption growth. The second quarter of 2006 presents some preliminary evidence that this process is already underway. According to our proxies for capital gains and cashed-out equity, quarterly declines in both marginally detracted from real consumption growth. Even so, the overall wealth effect continues to support spending growth because the biggest driver is real estate assets valued at nearly $17 trillion in inflation adjusted terms. But even here cracks are forming. This measure expanded by just half a per cent in the second quarter, marking the slowest pace since 1997. As overall wealth effects continue to reverse course, we estimate that it could shave at least a full percentage point from real GDP growth over the next 12 months.

How close is the U.S. to a recession?

With all these dire predictions, would there be an outright contraction in U.S. economic activity? There is significant risk of a recession in 2007 or early 2008. However, the most likely outcome remains a mid-cycle slowdown. Although a number of housing indicators are mirroring the path of past recession cycles, the data provide an incomplete picture and can often send false signals. Interest rates, inflation and employment are also material in shaping the economic landscape.

Starting with the housing market backdrop, the news is somewhat glum. There is a strong link between real estate assets and recessions. The annual growth rate in inflation adjusted real estate has contracted in three of the past four recessions. On average, asset growth hits a trough of -3% following several quarterly declines that either preceded or coincided with the start of the recession. Currently, this seems a long way off since real estate assets were still expanding by a healthy 7% annual clip in the second quarter. However, the slowdown in the quarterly growth rate is a red flag. In addition, the annual pace of growth for detached real home prices moved deep into negative territory (-5.3%) in August, which does not bode well for the wealth measure in the third quarter. But, readers should bear in mind that there are also instances when price growth dramatically slows or turns negative that does not coincide with recessions. The mid-1990s offers a perfect example of repeated false signals, though a mid-cycle slowdown did ensue.

Sharp double-digit declines in the annual growth of housing starts in August also put this indicator in bad company for either a recession or cyclical slowdown. But, the data is inconclusive on which one it would be because single-family housing starts contract steeply in both cases. The only distinguishing feature is that activity during a recession cycle remains in the red for a longer period of time. For this outcome, we’ll have to wait and see, but what we do know is that construction activity in the most recent quarter has already contracted to a greater extent than the initial backslide leading into an average recession cycle.

Another possible signpost that the U.S. is on the cusp of a recession is if purchases of big-ticket housing items begin to contract on a quarterly basis. Falling expenditures on items like furniture and household equipment tend to precede a recession by 1-to-3 quarters. This has yet to occur in the present economic cycle, but we would not be surprised if it did. However, the bigger economic determinant is if a contraction in spending for non-housing items follows in toe. When this occurs, a critical threshold of consumer confidence has been breached.

Consumers hold the key to economic expansion…

In past recession cycles, consumer spending was undermined by three critical variables: inflation, interest rates and unemployment. There is good news on all three fronts in the current economic cycle. The graph below shows that present inflation behaviour is more akin to periods of mid-cycle slowdowns than recessions. U.S. core inflation typically accelerated ahead of recessions and was at least double current levels. Because movements in inflation and interest rates are highly intertwined, acceleration in the former usually prompted the central bank to respond with higher interest rates – often causing monetary policy to overshoot to the point of choking off domestic demand. This is evident in the graph on the following page, where the real fed funds rate climbs, on average, about 2 percentage points over the course of four quarters preceding a recession. The current cycle has produced an equivalent amount of tightening, but it has been gradual by comparison, occurring over eight quarters. Equally important, the level of real interest rates remains a full 2 percentage points below peak pre-recession periods. So in both cases, interest rates appear to be only tapping on the brakes, rather than driving the economy to a full stop.

This may account for why household credit is still showing little sign of stress, even at this late stage in the monetary tightening cycle. There has been much made of recent up-ticks in foreclosures and delinquencies, especially in states that have a notorious reputation for the use of riskier debt products, such as California and Nevada. Yet, the national level of delinquency rates remains low. And, in the subprime market, California and Arizona still ranked as the lowest delinquency states in the U.S. even though both have a disproportionate amount of non-conventional mortgages. In the first quarter of 2006, negative amortization loans represented 9 per cent of new mortgages in the U.S. In Nevada and California, those respective shares were 22.5 per cent and 21 per cent.

With this in mind, we fully recognize that the high use of ‘exotic’ mortgages does present a near-term risk to the economic expansion. In 2005, nearly 40% of new mortgages were either negative amortization or interest-only products. What’s more, it is estimated that $1 trillion of adjustable rate mortgages will adjust in 2007, or about 8% of outstanding mortgage loans. However, once again we take comfort in the inflation-interest rate link. Without the shackles of high inflation in the current cycle, we believe the Fed will react quickly to an economic slowdown and will cut interest rates by 100 basis points in the first half of 2007. This should help alleviate the interest rate strain on some of the more vulnerable credit holders.

The labour market backdrop is the third factor supporting the outcome of a mid-cycle slowdown. The final scenario graph below has two useful insights. First, the current labour market looks to be paralleling the path of a cyclical slowdown, referring to the fact that there has not been a material deceleration in job growth that typically precedes a recession. Meanwhile, growth in real wages per employee has recently accelerated, which is opposite to pre-recession behaviour. Second, the amount of new jobs relative to total employment is much lower in the current cycle than either of the scenarios of a recession or mid-cycle slowdown. This is good news because less job buildup going into a slowdown provides some insulation against the risk of mass job layoffs.

This possibility is further enhanced when we consider that the job boom that typically takes place in post-recession periods did not occur after the 2001 recession. Rather, corporate restructuring scratched nearly 3 million jobs from payrolls between 2001 and 2003. And, in some sectors, employment restructuring has yet to cease. For instance, the manufacturing sector continues to shed jobs five years after the official end of the recession.

Current lean employment structures provide some reassurance that aggressive job cuts are not waiting in the wings. This is a vital component to any economic cycle, because mass layoffs cause a sudden interruption in household income that is highly destabilizing to an expansion. Total wages in the economy amount to over $4 trillion, which is more than five times the amount of mortgage equity withdrawal.

…but Corporate America is in driver’s seat

But, the security of job growth ultimately hinges on the response by Corporate America to an economic slowdown. Even here we find a number of key positive features in the present cycle. For one, the ratio of prices to unit labour costs is typically falling heading into a recession period. This is definitely not the case in the current cycle, plus the ratio is at a historical high reflecting the fact that businesses have successfully constrained unit labour costs to lift profits. Second, corporate liquidity and savings have never been better. If the U.S. economy was nearing a recession, growth in retained earnings would normally be slowing, but the opposite has occurred. Given that retained earnings are at a record level, firms should not find themselves in dire straights as demand growth tapers off, especially if the slowdown extends a short period of one year, as we predict. And, as we already mentioned, job restructuring occurred only three years ago, so there’s not much fat to cut off these bones.

The final corporate variable that provides comfort is the historically low inventory-to-sales (I/S) ratio. Inventory swings have proven to be highly disruptive during an economic downturn and can often hasten job layoffs. When consumer demand growth trails off, I/S ratios tend to rise, causing firms to aggressively liquidate on-hand stock. The Fed estimated that this inventory adjustment process accounted for, on average, one-quarter of the overall slowdown in real GDP growth during postwar recessions. This is quite a powerful influence from a sector that represents a mere 0.5 per cent of GDP.

In the current economic cycle, I/S ratios across all sectors – retail, wholesale and manufacturing – are already flirting with record lows. In fact, these ratios have been extremely lean since 2004, the start of the Fed tightening cycle. So, it’s quite possible that firms have long been bracing for an economic slowdown. Low I/S ratios relative to past norms should limit the severity of an economic downturn, while also mitigating some of the negative risks that naturally flow to the job market.

Conclusion

We are not blind to the obstacles faced by the U.S. economy, such as a negative savings rate and high debt service costs. If the consumer back finally breaks, look for preliminary signals to emerge in the form of steep contractions in housing-related expenditures and escalating debt defaults. But, we remind readers that there is no single variable that can push America into a recession. The health of the economy is dependent on a confluence of many factors. Although recent trends in the housing sector are closely paralleling events leading into past recessions, deteriorating wealth effects and falling home prices alone do not portend a recession. The environment for interest rates, inflation and corporate balance sheets bears no resemblance to past recessions. We believe these factors will dominate, preventing the mass job losses that would compromise income growth and the ability for households to meet debt obligations and future expenditures. So, to return to the question we posed in the introduction as to whether the housing correction will lead to an outright recession, the likely answer is “no”. The economic indicators are precisely in line with previous mid-cycle slowdowns, such that the U.S. economy is more likely to bump along the 2 per cent mark for a one-year period, than contract outright.

Article courtesy of TD Canada Trust, Paul Chadwick



For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

RBC Royal Bank "Leading indicator points to positive, but slower, growth ahead" September 2006

RBC Royal Bank "Leading indicator points to positive, but slower, growth ahead"
Latest month available: August 2006

Release date: September 20, 2006

Fixed income and currency market reaction
The leading economic indicator rose by 0.2% in August. July's increase was revised up to show a 0.3% increase, (previously reported as 0.2%).

Implications
The rise in the leading indicator confirms that economy continued to exhibit decent momentum in the third quarter with seven of the 10 components recording increases in August.

The biggest decline occurred in the housing index, which fell 2.5% as a result of a decline in housing starts and a levelling off of house sales. The slowing in housing market activity restrained growth in furniture and appliance sales to 0.5%, their slowest increase this year.

Manufacturing new orders rose 0.1%, while the ratio of shipments-to-inventories remained relatively flat. Money supply growth increased while the U.S. Conference Board leading indicator fell 0.1%.

Today's release points to positive, but modestly slower, growth ahead in line with our forecast that real GDP growth will moderate in the second half of the year after increasing at a 2.8% average pace in the first half.

Real GDP... Second-quarter real GDP surprises on downside
Release date: August 31, 2006

Fixed income and currency market reaction
Canadian second-quarter real GDP surprised on the downside, rising at a 2% annualized pace, below market expectations of a 2.3% annualized increase and well below the forecast put forward by the Bank of Canada in their latest Monetary Policy Report Update. First-quarter GDP growth was revised down to a 3.6% annualized pace from 3.8%. On a monthly basis, the Canadian economy remained stable in June. The lower-than-expected second-quarter read will prove negative for the Canadian dollar and positive for bonds.

Implications
While consumer spending slowed slightly in the quarter to 4.2% from the first quarter's 5.1% pace, it continued to support the economy. Expenditures on durable goods decelerated sharply.

Residential investment declined 5.2% after growing at a solid 12.7% in the first quarter due to mild winter weather. Businesses continued to invest in plant and equipment, although the pace of the investment was slower than that registered in the first. A large business inventory investment was also evident in the second quarter.

Exports fell 1.2%, continuing the decline seen in the first quarter as manufacturing output weakened further. Auto exports fell for a second consecutive quarter. Imports rebounded from a weak first quarter as the Canadian dollar appreciated. The strength of business investment accounted for much of the increase as imports of machinery and equipment grew.

Wages and salaries grew by 1.3% in the second quarter, while nominal profits edged ahead 0.4%.

The details of the report are not all bad news as most of the components contributed to growth in the quarter.

The major drag was net trade. However, most of the drag in net trade came from imports, which were largely supported by strong business investment. Hence, the overall picture is not completely one of doom-and-gloom.

The report is consistent with no change in interest rates at next week's Bank of Canada meeting and tilts the risk towards no more hikes for the remainder of the year.

Source: "Financial Markets Monthly", Economics Departnment, RBC Financial Group.
Read this report and more from the Royal Bank of Canada at this link: http://www.rbccm.com/0,,cid-10676_,00.html

For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Toronto condo market the most active in North America

Toronto most active condo market in North America

Toronto was the most active, and probably the largest condominium market in North America in the second quarter of 2006, according to a report published by Urbanation, an independent analysis company that has been doing in-depth studies of the Toronto condo market since 1981. The Urbanation report says the new condominium market now represents 39 per cent of total new home sales in the Toronto CMA.

The Urbanation report says there were 255 new condominium projects representing more than 53,000 units in the Toronto CMA in the second quarter of this year. However more than 77 per cent of the units were already sold and more than 28,000 were under construction in the quarter.

In the first six months of 2006, more than 8,300 buyers visited sales centres throughout the city and found what they were looking for -- the right product, for the right price, in the right location. This is similar to the sales performance in the first half of 2005, which ended up being a record year for new condominium apartment sales with more than 16,000 sold across the Toronto CMA.

Urbanation says developers must pre-sell 65 – 70 per cent of the units from floor plans before a project can proceed. The company’s report indicates that in the second quarter of this year, unsold units represented 23 per cent of total new condominium units on the market. In contrast, when the condominium market crashed in the late 1980s, unsold units represented nearly 50 per cent of the total inventory in active projects.

Urbanation also says today's condominium buyers are savvy, well-educated consumers who are taking the time to shop around and compare projects to find the best value for their money. This means that prices have remained both competitive and affordable as the condominium market is largely driven by "real" buyers looking for real homes to move into. By contrast, in the 1980s the demand for new condominiums was driven largely by speculators and investors. This resulted in a sharp increase in both sales activity and prices over a very short period of time and created an unsustainable market bubble.

There are investors buying new condominiums in 2006, Urbanation says, but they represent less than one-quarter of total new condominium buyers in the Toronto CMA. “Due to increasing construction costs, we have seen higher prices for new condominium projects over the past six to nine months, and increasing mortgage rates, so statistically speaking, the number of people who can afford to purchase a new home has decreased. The good news so far is that our data does not show any early warning signs of a significant market downturn as sales have remained strong, suggesting that overall affordability remains high and consumers are still finding excellent value for their money.”

However, Urbanation says continued rising construction costs and mortgage rates over the long term may increase the chances of a "soft landing" for the condominium market in future, but not a crash similar to what occurred in the 1980s.
Created: 09/17/2006



For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Housing Starts were strong in July in the Toronto housing market

The Toronto housing market experienced strong housing starts in July 2006

July home construction in the Toronto Census Metropolitan Area (CMA) remained strong, but continued on a downward trend. The seasonally-adjusted annual rate of starts was 41,600 - down slightly from 43,800 in June. For the first seven months of 2006, on an unadjusted basis, new home starts declined by over 13 per cent compared to the same period last year.


Over the past two years, the resale home market has become more balanced, meaning home buyers have benefited from more choice. Increased resale home listings coupled with high home prices have resulted in fewer pre-construction

HOUSING STARTS STRONG IN JULY

Sales of low-rise homes and lower housing starts. Condominium apartment starts, at 1,261 in July, remained strong, though not as exceptional as in July of last year when condominium apartment starts spiked to 3,387. Despite the decline, year-to-date building activity points to a second consecutive year of record condominium apartment construction. Condominium apartments are becoming an increasingly popular home ownership option for many households. The average prices and mortgage payments associated with ground-oriented homes, including single-detached houses, are too high for many buyers, especially those purchasing their first home. The average price for a completed and absorbed single-detached house through July was almost $460,000, with a monthly principal and interest payment of approximately $2,400 (calculated using a 25 per cent down payment and a five-year fixed rate mortgage amortized over 25 years). The minimum annual income required to carry this mortgage is slightly more than $90,000 (assumes a gross debt-to-service ratio of 32 per cent), which is above the average household income in the Toronto area. This article is courtesy of CMHC

For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

A Great Home Safety Tip...

Your Cars Keyless Entry could be a life saver...at home too!


I recently came across a great idea which made so much sense.

I realize that many of us when shopping at the mall and time comes to find the vehicle you have all heard the car alarms going off so the owner can locate their vehicle. Well this same principle can be utilized at your bedside. Instead of hanging your keys remote at the door , have them accessible at your bedside.

Imagine you hear a break in at your house and you are in your bed. Short of having a dangerous weapon handy just reach over and push the car alarm button on your remote. Hopefully the noise will alert your intruder or at least make them aware that you know they are there. Anyways the alarm will not go off for a while and during this length of time you will have alerted half the neighbourhood that you may have a problem. If it is a false alarm when you check it out simply turn the car alarm off. I would try it now just to be sure it works. What can you lose?

There seem to be a lot of new cars on the road these days but if you happen to have an older model without the remote you can always put one in. This is just another good idea to have one. I'm sorry I do not sell these items but we have many Etobicoke automobile dealers or aftermarket specialists who can help you. Even if you already have a Home Alarm system if the power goes out your car alarm will make you feel a little bit safer. hopefully you will never have to find out.


For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Summer in the GTA and Etobicoke Start Strong

July news and stats update - Summer Starts Strong

TORONTO, July 6, 2006--The summer of 2006 got off to a booming start, with 8,730 resale home sales in the month of June, incoming TREB President Dorothy Mason announced today.

"This marks the fourth month in a row that sales have topped the 8,000 mark, giving us a year-to-date total of 45,797 sales," Mrs. Mason stated. "That figure is up two per cent over 2005, which turned out to be the best year ever recorded."

The average price came in at $358,035 in June, up four per cent over the $345,065 recorded in June of last year. "Prices remain affordable," Mrs. Mason said, "yet homeownership remains an excellent investment, with an annual return that exceeds inflation."

Average time-on-market remained at 32 days, and inventory fell a little (three per cent) from May to 25,393. "There is still plenty of product out there on the market," Mrs. Mason noted. "And that should keep a cap on price increases."

This was the news release that was issued by the Toronto Real Estate Board regarding the strength of the May sales

TORONTO, July 6, 2006--The Toronto Area real estate market began the summer season with a strong showing in June, Toronto Real Estate Board President Dorothy Mason announced today.

“The year continues to be very active,” Mrs. Mason said. “June’s 8,730 sales are within five per cent of last June’s total of 9,153, which was part of a record year.”

Mrs. Mason noted that although June was more balanced than previous months, 2006 remains about two per cent ahead of last year’s pace.

“Yeartodate figures show the record first quarter has been followed by solid, steady results in the late spring and early summer.”

According to Jason Mercer, Senior Market Analyst for the Canada Mortgage and Housing Corporation, favourable economic conditions are helping to keep demand strong.

"Robust June sales are testament to the fact that demand for ownership housing remains strong in the Greater Toronto Area. Steady increases in employment and wages coupled with low borrowing costs have kept the number of home buyers near record levels," Mr. Mercer said.

Areas consisting primarily of detached homes were particularly active during June, compared to figures from a year ago.

Wilson Heights in North York saw 42 per cent more transactions than in June 2005.

In Scarborough, the Birchmount Park / Cliffside area of the waterfront had 38 per cent more homes change hands as compared to June 2005.

North of Toronto, the northern part of Richmond Hill had a 17 per cent increase in overall transactions led by detached home sales.

Meanwhile, a jump in activity of semidetached homes helped push the Junction / High Park area of Toronto 33 per cent higher than last June in terms of overall sales.

The market is still very healthy and there is a lot of choice for all types of homebuyers,” Mrs. Mason added. “It’s a very good time to be in the housing market.”

Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a stateoftheart Multiple Listing Service. Its 25,393 listings resulted in June’s 8,730 sales. Serving over 24,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board.



For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Luxury homes sales surge in residential markets across the country, says RE/MAX

Luxury homes sales surge in residential markets across the country, says RE/MAX
Affluent Canadians are fuelling unprecedented demand for luxury homes from Halifax to Vancouver this year, according to RE/MAX.

Million dollar home sales are climbing at a rate never before seen in major centres across the country. Clearly, the Canadian love affair with residential real estate is far from over – and if the market continues at this pace, existing sales records for all types of real estate, including upscale properties, will be shattered by year end.

The RE/MAX Upper End Report found that luxury home sales rose to new heights in 12 out of 13 markets in January to May 2006 compared to one year ago, with percentage increases ranging from eight per cent in Halifax/Dartmouth to as high as 177 per cent in Edmonton. Only Windsor, Ontario, where concerns over the future of the automotive industry are having an impact on real estate in general, reported a decline in sales.

The surge in upper end sales can be directly attributed to three factors. Existing homeowners cashing in on substantial equity gains to re-invest in the top end of the market; strong economic performance across the country; and solid consumer confidence levels. Limited inventory has further served to underscore the intensity of the marketplace.

Rising values and renovation have been major factors in the upper-end of the market, redefining price points and reclassifying residential neighbourhoods across Canada. Infill is occurring in virtually every older, established community located in close proximity to the downtown core – creating new upper end enclaves. Limited inventory levels in areas like Vancouver, Calgary, and Toronto are placing serious upward pressure on prices in ‘blue chip neighbourhoods,’ with many properties now selling in multiple offer situations.

Local buyers, including young professionals, corporate executives, and entrepreneurs are behind the push for upscale homes and condominiums. More and more Canadians are reaching millionaire status and that position is often reflected in their choice of a home.

Highlights:
 The highest-priced MLS sale in Canada this year -- $10,880,000 -- occurred in Greater Vancouver.
 The most expensive property listed for sale is a $45 million waterfront estate in Oakville, Ontario.
 Out-of-province and international purchasers are a factor in Vancouver, Victoria, Kelowna, Edmonton and St. John’s.
 Teardown and infill is occurring in Vancouver, Victoria, Calgary, Edmonton, Winnipeg, Hamilton/Burlington, Toronto, Ottawa, and St. John’s.
 Turnkey properties are most sought-after in Vancouver, Kelowna, Windsor, and Halifax-Dartmouth.
 Upper end condominiums are popular in Victoria, Kelowna, Edmonton, Winnipeg, Toronto, and Halifax-Dartmouth.

Market**	Luxury homes start at…	Sales 2005	Sales 2006	Percentage +/-
Vancouver	$1.5 million	212	403	90%
Victoria	$1 million	42	62	48%
Kelowna	$1 million	16	36	125%
Calgary	$1 million	92	206	124%
Edmonton	$500,000	52	144	177%
Winnipeg	$500,000	12	24	100%
Windsor	$500,000	15	7	-54%
London / St. Thomas	$500,000	32	38	19%
Hamilton / Burlington	$500,000	158	225	42%
Greater Toronto	$1.5 million	221	289	31%
Ottawa	$500,000	145	222	53%
Halifax / Dartmouth	$500,000	37	40	8%
St. John's	$500,000	4	5	25%

** Based on local board MLS statistics (January – May), RE/MAX

RE/MAX is Canada’s leading real estate organization with over 16,060 sales associates situated throughout its more than 615 independently owned and operated offices across the country. The RE/MAX franchise network, now in its 33rd year of consecutive growth, is a global real estate system operating in over 64 countries. More than 6,375 independently owned offices engage 118,450 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, relocation and asset management. For more information, visit: http://www.remax.ca/

For more informaion please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Etobicoke homes for sale

This is my first entry. I hope you enjoy my blog. I will continue to add relevant and current information to this blog that you will find of interest.

Thank you,
Kathy