Mike Montague

media release from BDAR President, Wendy Elzner.

Home sales activity remains strong in August

MLS® home sales activity in August 2009 was up from year-ago levels for the third consecutive month in the area served by the Barrie District Association of REALTORS® Inc. Meanwhile, active and new listings continued retreating from elevated levels.

According to statistics provided by the Association, MLS® home sales activity totalled 394 units in August 2009, jumping 12 per cent from the same month last year.

“August was another strong month for sales,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “New listings also remain down from levels recorded last year, which continues to firm up the market.”

The total dollar value of MLS® residential property sales amounted to $103.7 million in August 2009, 11 per cent above year-ago levels.

Total MLS® sales activity in the Barrie region numbered 403 units in August, rising 12 per cent year-over-year. The total value of all MLS® properties sold in August 2009 was $106.1 million, 10 per cent above levels in August 2008.

The year-to-date MLS® residential average price for home sales in August 2009 was $262,692, down 0.7 per cent compared to the same period last year.

New residential listings numbered 608 units in August 2009 to the lowest level for this month in five years. New listings declined 10 per cent year-over-year, making it the third double-digit decline in as many months, and the fifth consecutive month in which the number of new listings was down from year-ago levels.

The number of active residential listings on the Association’s MLS® System dropped 10 per cent year-over-year to 1,845 units at the end of August 2008. This is the third consecutive double-digit decline in the number of active listings.

The number of months of inventory edged up to 4.7 months in August, compared to 4.1 months in July, but remains well below levels posted earlier this year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members

Yesterday a group of 28 Barrie Realtors including myself completed the seventh and final week of a sales and marketing course under the instruction of Chris Leader of Leader's Edge Training(TM).

Chris is renowned throught our industry in Canada and the United States for his training style and the cutting edge content of his courses and training materials.

Over my 10 years in the industry I have participated in many sessions intended to improve upon the skills of a Professional Realtor, none compare. Walking out of the last session yesterday each of us had a more deliberate stride in our step and a refines sense of direction along with a crystal clear blueprint for evolving and building on our real estate practices in a time of economic uncertainty and constant technological change.

I would recommend no Realtor pass on the opportunity to participate in the Leader's Edge Training experience if and when it comes to your area. You and your future clients will share in the rewards.

Thanks Chris.

Sales tax harmonization draws closer - why is this old news?

    CNW/ - Ontario's REALTORS(R) say the McGuinty
governments plan to harmonize the GST and PST will add over $2,000 to the cost
of a real estate transaction, hurting the resale home market and prolonging
the housing industry's recovery from the current economic downturn.
"Now is not the time to be erecting barriers to homeownership," said
Pauline Aunger, President of the Ontario Real Estate Association. "We need
consumers to invest in housing to help get our economy going again."
According to the Canadian Real Estate Association, home sales in the
province of Ontario were down 29 per cent in February, compared to 2008.
Under a harmonized sales tax (HST), home buyers and sellers will have to
pay extra tax on a range of services associated with real estate transactions
such as legal fees, moving costs, real estate commissions and home inspection
fees. Currently, consumers only pay the 5% Goods and Services Tax (GST) on
these services. "These additional taxes could price some homebuyers, especially
first-time homebuyers, right out of the market," explained Mrs. Aunger.
"Harmonizing will not help homebuyers in any way."
For a resale house priced at $360,000, a HST could add over two thousand
dollars in new taxes to closing costs. In total, a HST will add $313 million
annually in new taxes to resale home transactions.
"In the last decade, Ontario's homeowners have faced a barrage of new
costs," said Aunger. "From municipal land transfer taxes to sky rocketing
property taxes, homeowners are being pushed to the brink to accommodate
increasing demands from government. A harmonized sales tax is yet another cash
grab on Ontario's already overtaxed homeowners."

The Ontario Real Estate Association represents 47,000 brokers and
salespeople who are members of the 42 real estate boards throughout the
province. Members of the association may use the "REALTOR(R)" trademark, which
identifies them as real estate professionals who subscribe to a high standard
of ethics and service.
OREA serves REALTORS(R) through a wide variety of professional
publications, educational programs, advocacy and other services. A division of
the association, the OREA Real Estate College, provides real estate
registration education courses in Ontario.

    QUICK FACTS

    -------------------------------------------------------------------------
                        Table 1: HST and Resale Homes
    -------------------------------------------------------------------------
                                      Current Tax                           HST Tax
    Taxable Service            Payable          New Taxes          Payable
    -------------------------------------------------------------------------
    Mortgage Insurance
     Premiums(1)              $752.40        $470.25(2)          $1222.65
    -------------------------------------------------------------------------
    Legal Costs                 $50.00          $80.00                $130.00
    -------------------------------------------------------------------------
    Real Estate
     Fee/Commission         $720.00-      $1,152.00-           $1,872.00-
                                      $1,080.00    $1,728.00            $2,808.00(3)
    -------------------------------------------------------------------------
    Home Inspection          $20.00         $32.00                $52.00
    -------------------------------------------------------------------------
    Title Insurance             $24.00         $15.00                $39.00
    -------------------------------------------------------------------------
    Total New Tax:             $1,749.25-
                                      $2,325.25
    ------------------------------------------------------------------------

    -   Ontario's real estate industry is essential to the provincial
        economy. In 2008, real estate in Ontario accounted for $56.6 billion
        in sales, $6.01 billion in ancillary economic spending and $1.35
        billion(4) in land transfer tax revenue to the provincial government.
        In addition, real estate employs 110,000 Ontarians directly and
        indirectly.(5)

    (1) CMHC premium of 2.75% for mortgage with a 5% down payment on a
        $300,000+ home.
    (2) Consumers currently pay the 8% PST on mortgage insurance premiums.
    (3) Real estate commissions are negotiable or may be a flat fee.
        Estimated range of 4% to 6% used.
    (4) Ministry of Finance, Public Accounts, 2007/2008.
    (5) Altus Group, "Economic Impact of MLS(R) Home Sales," June 12, 2007.

• To learn more about Harmonized sales taxes and how they will impact each of us click here

Speak up:

Dalton McGuinty Premier - Government of Ontario

Email: dmcguinty.mpp.co@liberal.ola.org

Website: https://www.premier.gov.on.ca/feedback/feedback.asp

phone: (416) 325-3777 Phone: (416) 325-1941 Fax: (416) 325-3745

We are at the peak of our local growing season here in Simcoe County. Area produce can be had in many grocery stores, farmers markets and road side stands. Make a point to seek out our locally grown foods and at the same time support our local economy. Nothing better than the fresh summer corn available right now.

Check out this site for some insight on local foods and some of the best places to find it.

http://www.simcoecountyfarmfresh.ca/index.php

media release from BDAR President, Wendy Elzner.

Home sales activity remains strong in July

MLS® home sales activity in the area served by the Barrie District Association of REALTORS® Inc. was up from year-ago levels for the second consecutive month in July 2009. Meanwhile, active listings continued to retreat from elevated levels.

According to statistics provided by the Association, MLS® home sales activity totalled 449 units in July 2009, up four per cent from the same month last year.

“July was another strong month for sales,” said Wendy Elzner, President of the Barrie and District Association of REALTORS®. “We’re also seeing fewer listings compared to last year’s elevated levels, which is firming up the market.”

The total dollar value of MLS® residential property sales amounted to $119.5 million in July 2009, six per cent above year-ago levels.

Total MLS® sales activity in the Barrie region numbered 462 units in July, rising five per cent year-over-year. The total value of all MLS® properties sold in July 2009 was $125.6 million, nine per cent above levels in July 2008.

The year-to-date MLS® residential average price for home sales in July 2009 was $262,612. This is six-tenths of one per cent below the average value reported in the first seven months of 2008.

New residential listings numbered 689 units in July 2009, down 11 per cent from one year earlier. This is the second double-digit decline in as many months, and the fourth consecutive decrease in new listings.

The number of active residential listings on the Association’s MLS® system were down 16 per cent year-over-year to 1,854 units at the end of July 2009. This is the third consecutive decline, and the largest in 19 months.

The number of months of inventory edged up to 4.1 months in July, compared to 3.3 months in June, but remains well below levels posted earlier this year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members.