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Sham Pathania www.greatgtahomes.com

Tourists miss isle after GPS blunder !! Have you ever made a mistake using your satellite navigation system?

Two Swedes expecting the golden beaches of the Italian island of Capri got a shock when tourist officials told them they were 650 km (400 miles) off course in the northern town of Carpi, after mistyping the name in their GPS.

Think twice before you key in any street name or address. Its a vital tool for Realtors and does save lot of time in planning trips.

Capri

Faraglioni Rocks on the Italian island of Capri

Read More at:

http://www.reuters.com/article/oddlyEnoughNews/idUSTRE56R2LJ20090728

Bank of Canada maintains overnight rate target at 1/4 per cent

Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.

The global economy has suffered an intense, synchronous recession and considerable excess supply has opened up. There are now increasing signs that economic activity has begun to expand in many countries in response to monetary and fiscal policy stimulus and measures to stabilize the global financial system. However, the recovery is nascent. Effective and resolute policy implementation remains critical to sustained global growth.

The dynamics of the recovery in Canada remain broadly consistent with the Bank's medium-term outlook in its April Monetary Policy Report (MPR). Stimulative monetary and fiscal policies, improved financial conditions, firmer commodity prices, and a rebound in business and consumer confidence are spurring domestic demand growth. However, the higher Canadian dollar, as well as ongoing restructuring in key industrial sectors, is significantly moderating the pace of overall growth

Read More at:

http://www.bankofcanada.ca/en/fixed-dates/2009/rate_210709.html

P.S. These are the good signs ! Do you want to avail this opprotunity of low interst rates and build wealth by investing in Real Estate !

Contact today at www.greatgtahomes.com

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Low interest rates + Low Prices = Once in your lifetime opportunity.

Don't miss out! Free List includes pictures and drive by address.

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GTA May Resale Housing Sales Higher Than Last Year

Greater Toronto REALTORS® reported 9,589 sales, up almost two per cent from May 2008 – the first annual increase since December 2007. The seasonally adjusted annual rate of sales in May was 81,3001. “The resale housing market in the GTA has remained resilient in the face of challenging times globally,” according to TREB President Maureen O’Neill. “Many home buyers have taken advantage of extremely low mortgage rates.” The average price for May transactions was $395,609 – down less than one per cent compared to the same month last year. “The average resale home price has moved in line with last year’s level because of tighter market conditions experienced this Spring,” stated Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales have increased strongly relative to new listings, bolstering home prices.” More Info at: http://communications2.torontomls.net/newstand/news/2009/mn0906/pdf/nr_mwatch_0905.pdf Source: Toronto Real Estate Board

Land Transfer Tax Refund for First-Time Home Buyers

Land Transfer Tax applies to all transfers of land in Ontario. First-time homebuyers may be eligible for a refund of all or part of the tax. For agreements of purchase and sale entered into before December 14, 2007, the refund only applies on the purchase of a newly constructed home. For agreements of purchase and sale entered into after December 13, 2007, the refund applies to all homes, whether newly constructed or resale. How much is the Refund? The maximum amount of the refund is $2,000. If the refund is claimed at time of registration, it may offset the land transfer tax ordinarily payable. If not claimed at registration, the refund may be claimed directly from the Ministry of Revenue. No interest is paid on this refund. Who Qualifies? To claim a refund, you: must be at least 18 years of age; must occupy the home as your principal residence within 9 months of after the date of transfer; and cannot have owned a home, or an interest in a home, anywhere in the world. In addition: your spouse cannot have owned a home, or an interest in a home, anywhere in the world while being your spouse; and in the case of a newly constructed home, you must be entitled to a Tarion New Home Warranty. My website: www.greatgtahomes.com