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Toronto Home Find: Diane Plant Broker:

Average price of Toronto home down only 4% from this time last year.

3,681 TRANSACTIONS IN FIRST HALF OF APRIL

TORONTO, April 17, 2009

- Greater Toronto REALTORS® reported 3,681 transactions in the

first half of April, down seven per cent compared to 3,955 during the same period last year.

"In lock-step with the favorable March results, resale housing market conditions in the first half of

April were markedly improved compared to the winter time," said TREB President Maureen

O'Neill.

"Households that were on the sidelines at the beginning of the year are now taking advantage of

lower interest rates and lower home prices."

The average price for MLS® sales was $383,161, down four per cent from $399,117 last year.

"The average home price in the GTA stabilized as resale market conditions tightened over the

past two months," according to Jason Mercer, TREB's Senior Manager of Market Analysis.

"Existing home sales increased relative to new listings."

APRIL MID‐MONTH STATISTICS

YEAR‐OVER‐YEAR REGIONAL BREAKDOWN

Sales Average Price Sales Average Price

City of Toronto ("416") 1,494 $412,987 1,514 $454,222

Rest of GTA ("905") 2,187 $362,785 2,441 $370,274

GTA 3,681 $383,161 3,955 $399,117

Source: Toronto Real Estate Board

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I proudly server buyers and sellers in the Toronto Neighbourhoods of: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

Whether you're buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

Casa Loma

Casa Loma is Toronto's most prominent historic residence, built from 1911 to 1914. Casa Loma is complete with decorated suites, secret passages, an 800-foot tunnel, towers, stables, and beautiful 5-acre estate gardens.

Diane Plant, Broker
Forest Hill Real Estate, Brokerage
(416) 488-2875
Visit MY Website

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BUYERS IN TORONTO NEIGHBOURHOODS

SELLERS IN TORONTO NEIGHBOURHOODS

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Weekly Sales for Toronto ending April 16, 2009

The number of homes sold this week in all areas is down but the average price has increased. The average price increase is approximately 2%.

House Turning animation

 

April 16, 2009

Region

Area Sales

Av. Price

 

East

343

$305,933

 

West

615

$377,547

 

Central

288

$486,601

 

North

324

$416,460

 

Total

1,570

$389,936

 
 

NOTE: Please note these are preliminary figures. Minor adjustments may be required at month's end.

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I proudly server buyers and sellers in the Toronto Neighbourhoods of: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

Whether you're buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

Casa Loma

Casa Loma is Toronto's most prominent historic residence, built from 1911 to 1914. Casa Loma is complete with decorated suites, secret passages, an 800-foot tunnel, towers, stables, and beautiful 5-acre estate gardens.

Diane Plant, Broker
Forest Hill Real Estate, Brokerage
(416) 488-2875
Visit MY Website

Twitter Button from twitbuttons.com

BUYERS IN TORONTO NEIGHBOURHOODS

SELLERS IN TORONTO NEIGHBOURHOODS

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Mortgage borrowing in Canada will tighten for those with less than 20% down

This information came across my desk from my Mortgae Specialist Jessica Magno at TD Canada Trust, that I think would interest you all. Housing prices are down, interest rates dropped again this week…is all roses? All great deals have a price; the mortgage lending is tightening for borrowers with less then 20% down. (See below for further information).

Jessica says" I cannot stress the importance of mortgage pre approvals especially when the lending rules are always changing. Good credit is the key ingredient to getting approved."

Genworth Financial Tightens Guidelines. Genworth Financial, Canada’s 2nd biggest mortgage default insurer, is reportedly making several key changes to its insurance offerings, effective April 18. The changes will affect new borrowers with less than 20% equity/down-payment, who use a lender that insures with Genworth.

Among other things, Genworth is reportedly:

  • Shelving its high-ratio rental and Credit Assist programs.
  • Lowering its maximum TDS guideline from 44% to 42% for all products
  • Increasing credit score requirements for its Cash-Out Refinance program, from: * 650 to 700 (for 90.01-95% LTV applications)
  • 600 to 660 (for 85.01-90% LTV applications)
  • Imposing new credit score minimums for high-rise (4+ floors) condominiums of:
  • 700 (for 90.01-95% LTV applications)
  • 660 (for 85.01-90% LTV applications) Genworth did not previously have credit score minimums specific to high-rise condos.
  • Increasing credit score requirements for its Business For Self (Alt. A) product, from:
  • 650 to 700 (for 85.01%-90% LTV applications)
  • 650 to 680 (for 80.01%-85% LTV applications)
  • Genworth is eliminating LTV’s over 90% (previously it allowed BFS applicants to borrow up to 95% LTV) Genworth said it will accept applications for the above programs (under the old guidelines) until April 17. Collectively, these are significant changes for Genworth. So far, the only explanation we’ve seen from them is that the moves were due to “changes in the Canadian economy and housing markets.” We’re hoping to get a bit more clarity next week on the “why” factor.
  • One thing seems clear: If CMHC keeps it’s own guidelines as-is, Genworth will likely lose additional market share to the country’s number one insurer.

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    I proudly server buyers and sellers in the Toronto Neighbourhoods of: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

    Whether you're buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

    Casa Loma

    Casa Loma is Toronto's most prominent historic residence, built from 1911 to 1914. Casa Loma is complete with decorated suites, secret passages, an 800-foot tunnel, towers, stables, and beautiful 5-acre estate gardens.

    Diane Plant, Broker
    Forest Hill Real Estate, Brokerage
    (416) 488-2875
    Visit MY Website

    Twitter Button from twitbuttons.com

    BUYERS IN TORONTO NEIGHBOURHOODS

    SELLERS IN TORONTO NEIGHBOURHOODS

    FREE REPORTS

    Toronto Homes Sales ending April 9th, 2009

    House Turning animation

    April 9, 2009

    Region

    Area Sales

    Av. Price

    East

    409

    $301,778

    West

    690

    $369,951

    Central

    329

    $478,555

    North

    374

    $398,780

    Total

    1,802

    $380,290

    NOTE: Please note these are preliminary figures. Minor adjustments may be required at month's end.

    **********************************************************************************

    I proudly server buyers and sellers in the Toronto Neighbourhoods of: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

    Whether you're buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

    Casa Loma

    Casa Loma is Toronto's most prominent historic residence, built from 1911 to 1914. Casa Loma is complete with decorated suites, secret passages, an 800-foot tunnel, towers, stables, and beautiful 5-acre estate gardens.

    Diane Plant, Broker
    Forest Hill Real Estate, Brokerage
    (416) 488-2875
    Visit MY Website

    Twitter Button from twitbuttons.com

    BUYERS IN TORONTO NEIGHBOURHOODS

    SELLERS IN TORONTO NEIGHBOURHOODS

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    Toronto's First Green Living Show April 24-26

    The Green Living Show
    Starts: April 24, 2009
    Ends: April 26, 2009

    green-living


    The Green Living Show is Toronto's first consumer show dedicated to all things green.

    Information... innovation... inspiration... everything you need to green up your life, under one roof!
    April 24 & 25: 10-9pm
    April 26: 10-6pm


    For more information contact:

    Phone: 416-360-0044
    Ext: 110


    Address:

    Direct Energy Centre
    Exhibition Place
    100 Princes Blvd
    Princes Blvd and Strachan Ave

    Map to this event

    TTC: Union station

    Take 509 or 510 streetcar West to Exhibition Place


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    I proudly server buyers and sellers in the Toronto Neighbourhoods of: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

    Whether you're buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

    Casa Loma

    Casa Loma is Toronto's most prominent historic residence, built from 1911 to 1914. Casa Loma is complete with decorated suites, secret passages, an 800-foot tunnel, towers, stables, and beautiful 5-acre estate gardens.

    Diane Plant, Broker
    Forest Hill Real Estate, Brokerage
    (416) 488-2875
    Visit MY Website

    Twitter Button from twitbuttons.com

    BUYERS IN TORONTO NEIGHBOURHOODS

    SELLERS IN TORONTO NEIGHBOURHOODS

    FREE REPORTS