No housing crash for Canada: BMO

OTTAWA - The Canadian Press

Canada will likely avoid a crash or serious correction in its “somewhat pricey” housing market, with the possible exception of Vancouver, says a new paper from Bank of Montreal.
The analysis by BMO economists suggests alarms about Canada's housing market by international observers, from the International Monetary Fund to The Economist magazine, are exaggerated or simplistic.

“The main takeaway is that the national housing market appears somewhat pricey, but is far removed from a bubble,” said economists Sherry Cooper and Sal Guatieri in the report released Monday.
“In our view, the [market] is more like a balloon than a bubble. While bubbles always burst, a balloon often deflates slowly in the absence of a ‘pin'.”
Even Toronto's hot condo market – one of the subjects of many of the warnings – is more likely to cool rather than collapse, BMO said, noting that a sharp decline in construction for rental units is stimulating demand for condos.
The report estimates that half of new condos in the Toronto area are purchased by investors, and about 22 per cent are rented.
The one exception to the sanguine view appears to be Vancouver and parts of British Columbia, where home prices and demand from an influx of non-resident Chinese investment is elevating prices and construction. Home prices in Vancouver have climbed 159 per cent over the past 10 years, more than 50 per cent higher than the national average.
“Bottom line is, we expect the Canadian housing market to cool down rather than bust over the next couple of years, with the possible exception of Vancouver and parts of B.C. which will likely experience further correction,” Mr. Guatieri said in an interview.
By cooling, he predicted that prices, sales and startups will essentially be flat this year and likely next.
Housing has become an area of concern for policy makers over the past few years as Canadians continued to dip into the mortgage market to take advantage of historically low interest rates. As a consequence, household debt to disposable income has shot to more than 153 per cent, the highest ever and close to the levels reached in the United States before the subprime crash.
Earlier in the month, Finance Minister Jim Flaherty said he was prepared to intervene for the fourth time in six years if there is no let-up in borrowing.
The BMO economists say the government and Bank of Montreal are correct to worry about a continuation of the trend, but that is not likely. In fact, except for a few hot spots, that cooling trend has already begun with prices rising only 0.9 per cent last year. Home starts have also dipped well south of the over 200,000 level.
Nor is it likely that Canada will fall into another recession, or that interest rates would rise so quickly that a significant number of households would be unable to meet mortgage payments.
Canadian households are not as vulnerable as their American counterparts, the economists say.
Canadian home ownership equity is 67 per cent in Canada, compared with 39 per cent in the U.S., and even debt-to-income ratios are far better in Canada when the cost of health care that U.S. households must pay is factored in.
The report argues that many of the measures used by alarmists to suggest housing is due for a severe correction are exaggerated or simplistic.
On the important measures that gauge affordability, households are on firm ground. House prices to family incomes are elevated from 10 years ago, but not excessively so, at a ratio of 4.9 versus 3.2 a decade ago.
The exception again is Vancouver at 10, nearly double what it was a decade ago. Also elevated is Toronto at 6.7 versus 4.3.
“Let's assume the worst case scenario and house prices fall by 10 per cent, would that affect anything?” Mr. Guatieri asked. “There has been such an increase in house values, that I don't think it would pose a serious problem for Canadians or the economy.”
Mr. Guatieri said the situation would become a problem if home prices and household debt continued to outstrip income growth, but trends on both fronts are moderating.

Published on Monday, Jan. 30, 2012 11:45AM EST

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A "Kodak Moment" For Realtors

Simon and Garfunkel must have known this was coming. Their famous lyrics for the song Kodachrome read:

"When I think back on all the crap I've learned in high school
It's a wonder I can think at all
Though my lack of education hasn't hurt me much
I can read the writings on the walls

Kodachrome, they give us those nice bright colours
They give us the greens of summers
Makes you think all the world's a sunny day, oh yeah
I got a Nikon camera, I love to take a photograph
So mama don't take my Kodachrome away"

Well, Mama took the Kodachrome away this week. Kodak filed for Chapter 11 bankruptcy as they strive to save the company and transform it into a completely digital operation. With all the time I spent in the photo-retail industry, the fall of an industry leader was indeed sad news. The shift from analog photography to digital came quicker than most anticipated and hit harder than anyone expected. Like many aspects of life, change had become the only constant. My role with Canada's leading photo retail franchisor was not only to get our staff and franchisees to embrace the change and adopt the new technologies, but more importantly to manage it in a proactive way. Early adoption was not the issue, it was what you did with the tools you were provided that would determine your future. Those that looked beyond the changes and managed the same well have made it through the rain.

I've read a few blogs, status updates and tweets this week with people stating Kodak's demise was due to their refusal to change. There's nothing more absurd than that statement. Kodak has been one of the most innovative companies in the world for over a century. They invented the first hand held camera, the first film to be stored in a canister and later invented the first digital camera in 1975. Change and innovation was not Kodak's problem. It was what they did with their innovations that brought about their demise. Japanese companies took the rolled film product and perfected a way to make it cheaper and arguably better. The digital camera, which first cost upwards of $28,000 and for which Kodak first licensed Japanese companies with its CCD technology, was made more affordable by companies in Japan and China.

Ironically, after starting the change in their industry, Kodak was losing the battle. The giant had failed to use their innovations and apply them to their industry in proper ways. Change did not cause Kodak's demise, failing to manage the change properly did.

What does any of this have to do with Realtors you ask? Our industry is relatively in the same position as photo-retail was years ago. Innovative tools and industry shifts are upon us. The industry leaders are introducing new technology and tools such as QR Codes, Mobile Web Sites, SMS Technology, geo-tagging and much more. The early adopters are flocking to them without much knowledge or understanding and flaunting the fact that they simply have these new tools. Having the tool first isn't the "win". Learning to use them properly and perfecting them along the way will provide you with longevity and staying power in this industry. It's not a secret, nor is it a surprise that change is happening in the Real Estate Industry - as it does everywhere. Change is not the issue. Managing change is! Fellow Realtors: this is your "Kodak Moment". Don't stop at adopting the new technologies and tools; learn to implement them correctly and improve on them. As Simon and Garfunkel would say, "Don't let them take your Kodachrome away".

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RIM Shake-Up: Balsillie, Lazaridis Step Down

CTVNews.ca Staff

The founders of Research in Motion, Jim Balsillie and Mike Lazaridis, are stepping down as co-CEOs and chairmen of the embattled company.

In a news release Sunday night, RIM's board of directors announced the shake-up and the appointment of a new president and chief executive, Thorsten Heins.

Heins was recruited by RIM five years ago and has served as one of its chief operating officers, among other key positions.

The board said it decided on the drastic management changes "after conducting its own due diligence."

Lazaridis becomes vice-chair of the RIM board and the chair of its new innovation committee.

"As vice-chair, he will work closely with Mr. Heins to offer strategic counsel, provide a smooth transition and continue to promote the BlackBerry brand worldwide," the board said in the release.

The release quotes Lazaridis as saying: "There comes a time in the growth of every successful company when the founders recognize the need to pass the baton to new leadership. Jim and I went to the Board and told them that we thought that time was now."

Balsillie will remain a member of the board.

Pressure had been mounting on Balsillie and Lazaridis to step aside following a year of declining sales and profits for the BlackBerry maker.

The Waterloo, Ont.-based company, which used to be the darling of the Canadian technology sector, took a drubbing in 2011 as its share price dropped along with its market share when a series of blunders forced many to ponder if it had lost its edge in an industry that requires constant innovation.

It disappointed investors even further when it said that its next generation of smartphones -- the QNX-based BlackBerry 10 -- would not be on store shelves until late next year.

"It could not have happened soon enough. The company has lost its way and (Heins) has a mammoth job in front of him," said Conor Bill, president and chief executive at Artemis Investments in Toronto.

The new chair of the board is Barbara Stymiest, who has served as a director of the company since 2007.

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Four Sports Organizations To Receive Federal Funding For Concussion Prevention Education

(Sean Kilpatrick/Canadian Press)

Via: CBC News

Bal Gosal, the minister of state for amateur sport, announces $1.5 million in funding for programs to prevent brain injuries among children and youth in team sports, at a news conference in Ottawa on Thursday.

Four sports organizations will receive $1.5 million in federal funding for new education programs designed to reduce concussions and other brain injuries in children and youth who play team sports.

The Public Health Agency of Canada's "Active and Safe" program is supporting a joint project of ThinkFirst Canada, the Canadian Centre for Ethics in Sport, the Coaching Association of Canada, and Hockey Canada to help coaches, trainers, parents, and athletes recognize and prevent serious brain injuries.

In announcing the funding in Ottawa Thursday, Minister of State for Amateur Sport Bal Gosal noted that an estimated 90 per cent of severe brain injuries were preventable if parents, coaches and the kids themselves knew more about the risks.

"We can't eliminate all injuries," Gosal said, "but we want to help parents and coaches predict the predictable and prevent what is preventable."

Information provided by his department says more than 40 per cent of brain injuries in children and youth aged 10 to 19 years who get treated in emergency departments are due to sports and recreation activities.

The project highlighted in Thursday's announcement will research the information currently available and identify any obvious gaps. A safety-minded public awareness campaign will follow, using online communication in particular to ensure access across Canada and keep costs down.

"The information isn't reaching everyone right now," said Rebecca Nesdale-Tucker, the executive director and CEO of ThinkFirst Canada. "Injury is a leading cause of health expenditure and a lot of these injuries are preventable."

"We want to make sure we're being role models for children," Nesdale-Tucker added.

"Helmets can't protect [against] all injuries," she also said, noting the need for safer facilities, new rules, procedures and policies in high-contact sports, and the importance of enforcing rules and policies once implemented.

Mobile app planned
Plans for the funding announced Thursday include a brain injury and concussion mobile app, downloadable concussion information cards and helmet fitting guides, and toolkits for individuals involved in particular team sports.

Hockey Canada's vice-president of membership services, Glen McCurdie, said the mobile phone application would be free of charge and suggested the development of other technologies could follow.

The NDP's critic for amateur sports, Sudbury MP Glenn Thibeault, supported the program Thursday by joining players and coaches from the Sudbury Lady Wolves hockey team for the launch of some concussion impact sensor trials, to learn more about how brain injuries happen in hockey.

The New Democrats have proposed a national strategy to reduce the number of brain injuries in amateur and youth athletics, including a national injury surveillance and data collection system for concussions.

The NDP also wants to see substantive concussion guidelines, including a deterrent mechanism to ensure athletes are not returning to play against medical recommendations. Last October, Thibeault called for national training and educational standards for coaches, as well as cash incentives to assist amateur sports organizations in implementing the new protocols.

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Shame On Winnipeg! - Written By Phoenix Fan in 1996 - Hilarious!

Just read this and had to share. This was written by a Phoenix Coyotes fan back in 1996 when an presumably intoxicated NHL executive decided that the Winnipeg Jets would be better off in Phoenix, Arizona! Go Coyotes!? LOL. Don't worry dude, they'll be gone faster than you can spell KARMA!

Read on!

Shame on Winnipeg

Larry Cottle Apr 22 1996, 3:00 am

I can really understand the people of Winnipeg being upset that the Jets are leaving. I'm looking forward to going to NHL games. I've been a roadrunner fan since the '70s when we were in the WHA. What I can't understand is why you blame anyone other than yourselves. Here's some advice should you ever get another NHL team: 1. Sell out every game 2. Build a decent arena, not like that little rattrap I saw on Fox Sunday 3. Don't make an ass out of yourselves on television by booing another country's National Anthem 4. Improve your climate. What millionaire athlete in his right mind would want to freeze his ass off in Canada when he could sit by the pool and play golf in Phoenix. (you have heard of golf, right? It's a sport played in countries where they have this thing called grass) 5. Improve your economy. Why would anyone want to be paid in that monopoly money you guys call currency? 6. If you're not putting enough butts in the seats, consider getting a decent logo and color scheme. Look at the Ducks, people all over the country who never heard of hockey are buying them like crazy. Predictions are that the Coyotes will sell more merchandise in the next twelve months than the Jets have for the last twelve years. Merchandising=money. 7. When you get a new arena, make sure it has some luxury suites in it so all the local industries can buy them up for $100k/year and entertain guests. (You DO have some industry, don't you?) 8. GET OVER IT. YOU HAD A GOOD THING GOING AND _YOU_ BLEW IT!!! GO COYOTES!!!!!!!

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Huge Plus For South Unionville Residents

January 18, 2012 via: Markham Economist and Sun
 
Residents in Markham’s south Unionville may finally see a resolution to the parkland deficit in their neighbourhood.
A vote to undertake an appraisal of two properties, of about 3.6 acres total, to complete the South Unionville Park was carried by the town’s development services committee Tuesday.
The current value of parkland in south Unionville is estimated at $800,000 per acre by the town’s real property manager.
At this rate, the outstanding two properties in question and designated for parkland would cost about $2.9 million.
Unionville Councillor Don Hamilton said he’s pleased for the residents.
“The parks are their summer playground and daily recreation facility,” he said. “We finally have all participants in the process pulling to resolve this issue.”
Mr. Hamilton said the appraisal will allow the town and the property owners to negotiate the sale of the parkland at a fair market value.
“Right now, neither side knows what an acre of land is worth,” Mr. Hamilton said, adding while it’s usually the responsibility of the developers’ group to provide the parkland, the town has cash-in-lieu monies to help buy the parkland if necessary.
Other options include expropriation.
“We’d rather not do that,” Mr. Hamilton said.
He said the town knew all along there is a deficit of parkland in south Unionville, where land ownership was highly fragmented with numerous smaller individual parcels — about 64 separate owners, most of them non-developers, in the early stages of the secondary plan process.
Acquiring the two properties to complete South Unionville Park would mean tennis courts and an additional full-size soccer field and swings for the community. Currently only one full-size soccer field exists.
And with the Unionville Meadows Public School, the only school in south Unionville, adding more classroom space and parking this year, it provides more incentive to have extra parkland nearby, Mr. Hamilton said.
Resident Flora Wen agrees, saying existing parks in the area are full most of the time and don’t have enough facilities to entice children to go outside and play.
“I really don’t want our kids to grow up like that — they already play too many (video) games,” Ms Wen told the committee.
Deputy Mayor Jack Heath expressed his desire for a timely resolution.
“I don’t want them to be in high school by the time we acquire the lands for the facilities,” he said.

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Bank Of Canada Maintains Overnight Rate

Ottawa - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
The outlook for the global economy has deteriorated and uncertainty has increased since the Bank released its October Monetary Policy Report (MPR).  The sovereign debt crisis in Europe has intensified, conditions in international financial markets have tightened and risk aversion has risen. The recession in Europe is now expected to be deeper and longer than the Bank had anticipated in October.  The Bank continues to assume that European authorities will implement sufficient measures to contain the crisis, although this assumption is clearly subject to downside risks. In the United States, while the rebound in real GDP during the second half of 2011 was stronger than anticipated, the Bank expects the U.S. recovery will proceed at a more modest pace going forward, owing to ongoing household deleveraging, fiscal consolidation and the spillovers from Europe. Chinese growth is decelerating as expected towards a more sustainable pace. Commodity prices – with the exception of oil – are expected to be below the levels anticipated in the October MPR through 2013.

The Bank’s overall outlook for the Canadian economy is little changed from the October MPR.  While the economy had more momentum than anticipated in the second half of 2011, the pace of growth going forward is expected to be more modest than previously envisaged, largely due to the external environment. Prolonged uncertainty about the global economic and financial environment is likely to dampen the rate of growth of business investment, albeit to a still-solid pace.  Net exports are expected to contribute little to growth, reflecting moderate foreign demand and ongoing competitiveness challenges, including the persistent strength of the Canadian dollar.  In contrast, very favourable financing conditions are expected to buttress consumer spending and housing activity. Household expenditures are expected to remain high relative to GDP and the ratio of household debt to income is projected to rise further.

The Bank estimates that the economy grew by 2.4 per cent in 2011 and projects that it will grow by 2.0 per cent in 2012 and 2.8 per cent in 2013.  While the economy appears to be operating with less slack than previously assumed, given the more modest growth profile, the economy is only anticipated to return to full capacity by the third quarter of 2013, one quarter earlier than was expected in October.

The dynamics for inflation are similar to those anticipated in the October MPR, although the profile for inflation is marginally firmer.  Both total and core inflation are expected to moderate in 2012 and subsequently rise, reaching 2 per cent by the third quarter of 2013 as excess supply is slowly absorbed, labour compensation grows modestly and inflation expectations remain well-anchored.

Several significant upside and downside risks are present in the inflation outlook for Canada. Overall, the Bank judges that these risks are roughly balanced over the projection horizon.

Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate at 1 per cent. With the target interest rate near historic lows and the financial system functioning well, there is considerable monetary policy stimulus in Canada. The Bank will continue to monitor carefully economic and financial developments in the Canadian and global economies, together with the evolution of risks, and set monetary policy consistent with achieving the 2 per cent inflation target over the medium term.

The next scheduled date for announcing the overnight rate target is 8 March 2012.

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Tim Hortons Size Changes Take Effect Next Week

via: Emily Jackson Staff Reporter, The Star

Those that count out exact change for their morning brew at Tim Hortons will either have to practice ordering a different size or fork over a few extra pennies.

The beloved Canadian coffee joint will shift the names of its sizes starting next Monday to make room for a 24 oz. cup — the new extra large.

Small will become extra small, medium will become small and so forth, making the sizes more comparable to American standards.

“We tested the names of the new hot cup sizes with our guests and the response has been overwhelmingly positive,” said Dave McKay, a marketing director at Tim Hortons, in a statement.

At 8 oz., the current small is not available in the U.S., but will remain at the approximately 3,225 Tim Hortons locations in Canada.

Customers will pay the same price for the same amount of coffee, according to the statement.

Ordering a large coffee will put an extra 6 ounces of caffeine in your system, making the new large the same size as a 20 oz. Starbucks venti. Starbucks tall (small) and grande (medium) sizes will be 2 oz. larger than the same sizes at Tim Hortons.

To cater to its consumers’ expanding desires — and waistlines — the American premium coffee giant introduced a 31 oz. cup called the Trenta in January 2011.

Health Canada recommends that adults have no more than 400 mg of caffeine per day — about the amount in a 24 oz. of coffee, it says. (There is 200 mg of caffeine in Tim Hortons’ current 20 oz cup, according to its website.)

Over the past 25 years, supersized portions have contributed to rising obesity levels in North America.

Size comparison

Tim Hortons new sizes:

Extra small — 8 oz.

Small — 10 oz.

Medium — 14 oz.

Large — 20 oz.

Extra large — 24 oz.

Starbucks:

Short — 8 oz.

Tall — 12 oz.

Grande — 16 oz.

Venti — 20 oz.

Trenta — 31 oz.

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Passport Pictures - Buyer Beware

This article sure brought back memories from my days in the Photography industry.  Like with anything, you get what you pay for in passport pictures.  Remember to go to a professional that specializes in Passport Pictures.  The staff has been trained on proper shooting guidelines, and just as important the trimming guidelines.  Imagine lining up to get your passport, finally making it to the front of the line and having your picture rejected and then starting the process all over again?

It is scary as to how many places are taking advantage of the Passport Picture opportunity.  Recently I drove by a store that had a sign outside "Drycleaning, Movie Rentals and Passport Pictures".  Wow!  I remember conducting national training sessions for Japan Camera Franchisees and Staff on the proper handling of Passport Pictures.  Shooting an acceptable Passport Picture takes proper lighting, the right equipment, proper distance between subject and camera as well as trimming to the proper dimensions allowed by Passport Canada.  Children's passport pictures are a whole different animal!!  It is much more complicated to take a child's passport picture and that for sure should be left to the professionals.  Japan Camera staff are fully trained and their quality has become known to Passport Officials.  The stamp on the back means alot when you submit your pictures to the Passport Office.  One of the best Japan Camera outlets for Passport Pictures is located at Markville Shopping Centre.  Contact them at 905-513-7222 and you'll save valuable time and avoid frustration.  Article from Passport Canada is attached.  Happy Travelling!

Passport Canada is expecting a surge in business this year, as five-year passports expire and people get them renewed.

It's expected many people will renew this year because 2007 was the first year five-year passports were required for trips to the United States.

And based on past experience at the government agency, that means lots of passport photos will be rejected and have to be redone.

Photos are often rejected at Passport Canada counters, according to David Glos, the agency's director of western operations.

To put this to the test, CBC reporter Dani Mario recently had five passport photos taken at different companies and then asked Glos to have a look.

After giving the five a close examination, Glos slid four into the reject pile.

"This is your perfect passport photo," Glos said of the fifth.

One of the rejects had too much glare on the forehead, two showed hair partially covering one eye, while on the fourth there was an ink smudge on the print.

Other common reasons to reject photos include smiling, teeth showing or evidence of computer editing.

To avoid getting bad news at the passport counter, people should review the guidelines before getting in front of a camera, Glos said.

"There's very good information on our website … and there [are] very specific photo specifications on the application form itself, so I would encourage all Canadians to read those specifications before they go into a studio," he said.

Before they head to the passport office, people should talk to their photographer and bring the specifications along with them to make sure the pictures get a passing grade, Glos said.

If everybody does that, it will mean a big reduction in the rejection rate, he said.

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WiFi in York Region Schools

WiFi in Schools

Technology has become a regular part of our daily lives both at home and at work. Technology is changing and growing each day, and it will continue to do so. Public education has a fundamental responsibility to bring technology to the classroom as a way to prepare students for the future. Technology has created richer and broader experiences for our students. It has advanced the ways in which students innovate, collaborate, investigate and think critically.

K-12 and post-secondary studies have demonstrated the advantages of wireless environments including:

• Increased access to digital resources
• Increased engagement of learning related activities
• Increased support to students
• Enhanced communication
• Increased collaborative learning in the classroom

A number of parents in York Region school communities have expressed concerns about wireless internet technology (Wi-Fi) deployed in Board schools and workplaces. In response to these concerns the Board initiated Wi-Fi emissions testing at typical sites, in cooperation with a reputable testing authority. The testing firm, Radiation Health and Safety Consulting, concluded that the RF and microwave electromagnetic field levels associated with Wi-Fi Aps in a representative sample of areas normally accessed by students and staff are a factor of at least 25 (times) below the exposure limits specified in Health Canada Safety Code 6 for "Persons Not Classed as RF and Microwave Exposed Workers (Including the General Public)." All the observed levels are far below exposure limits currently established or proposed by major international or national agencies.

The Board is sensitive to all parent concerns and when it comes to safety claims, the Board relies on the advice of public health authorities entrusted to act in the public good.

Neither York Region Community and Health Services, nor the Ontario Ministry of Health, nor Health Canada are of the opinion that WiFi is dangerous to human health. Should these organizations change their advice in the future, York Region District School Board will be fully prepared to respond appropriately.

via: YRDSB PS Website 

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Toronto To Be Linked To Island Airport By Pedestrian Tunnel

TORONTO (via CTV) — A pedestrian tunnel linking Toronto to the Billy Bishop island airport has reportedly reached its final design stages and construction is expected to start next month.

The president of the Toronto Port Authority Geoff Wilson has told the Toronto Star that a groundbreaking ceremony for the tunnel is set to take place sometime in February.

Wilson says that construction is expected to take two years.

Late last year the TPA announced that Forum Infrastructure Partners, which includes PCL, Arup and Technicore, will design, build, finance and maintain the tunnel.

Wilson says the 240-metre-long structure, which will run both above and below ground, will be a spectacular piece of infrastructure.

Passengers going into the tunnel from the Toronto side will enter the tunnel through a pavilion and head down through elevators.

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Market News: Toronto Real Estate Posts Second Best Year On Record http://bit.ly/zupSJw

Second-Best Year on Record for Sales

January 5, 2012 -- Greater Toronto REALTORS® reported 4,718 transactions through the TorontoMLS® system in December 2011. The December result capped off the second-best year on record under the current Toronto Real Estate Board (TREB) boundaries. Total sales for 2011 amounted to 89,347 – up four per cent in comparison to 2010.

“Low borrowing costs kept Buyers confident in their ability to comfortably cover their mortgage payments along with other major housing costs,” said TREB President Richard Silver. “If Buyers had not been constrained by a shortage of listings over the past 12 months, we would have been flirting with a new sales record in the Greater Toronto Area,” added Silver.

The average selling price in December was $451,436 – up four per cent compared to December 2010. For all of 2011, the average selling price was $465,412, an increase of eight per cent in comparison to the average of $431,276 in 2010.

“Months of inventory remained below the pre-recession norm in 2011. Very tight market conditions meant substantial competition between Buyers and strong upward pressure on selling prices,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“TREB’s baseline forecast for 2012 is for an average price of $485,000, representing a more moderate four per cent annual rate of price growth. This baseline view is subject to a heightened degree of risk given the uncertain global economic outlook,” continued Mercer.

To View the complete Toronto Real Estate Board Market Watch please click here: http://bit.ly/zupSJw 

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Team Khan's Most Viewed Blogs for 2011

In case you missed these, here are our Top Viewed Blogs for 2011.  An eventful year it sure was.  There was the controversial attack on the Real Estate Industry by the Competition Bureau, great new projects being launched in and around the Greater Toronto Area, Market News throughout the year, and lots of tips and tricks on maximizing the value of your Real Estate Investments.  Take a peak at our most read articles: 

Hijacking the MLS: http://asifkhanremax.posterous.com/hijacking-the-mls

Caveat Venditor - Let The Seller Beware  http://asifkhanremax.posterous.com/caveat-venditor-let-the-seller-beware

Economic Spin Off From Real Estate Transactions http://asifkhanremax.posterous.com/economic-spin-off-from-real-estate-transactio

Time To Shut Down Realtor.ca? http://asifkhanremax.posterous.com/time-to-shut-down-realtorca

Declutter Your Home http://asifkhanremax.posterous.com/declutter-your-home-to-help-ease-stress-and-s

 Zoopraisal - A Fancy Word For Wild Guess? http://asifkhanremax.posterous.com/is-zoopraisal-just-a-fancy-word-for-wild-gues

Essential Condos A Solid Hit http://asifkhanremax.posterous.com/markham-condos-a-solid-hit-tremendous-respons

Downtown Markham - The Master Plan http://asifkhanremax.posterous.com/downtown-markham-the-master-plan-and-more-mar

Canadian Housing Market - Bubble or Boom? http://asifkhanremax.posterous.com/the-canadian-housing-market-bubble-or-boom

Compostable Bags and Green Bins http://asifkhanremax.posterous.com/compostable-bags-and-the-green-bin-program

If you like some of the material, please subscribe to our blog at http://asifkhanremax.posterous.com/.  I look forward to keeping you informed throughout 2012.

Regards,

Asif

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Memories and Dreams

Feels like just last month that we were welcoming in 2011 with open arms, albeit with guarded optimism. We were excited for what was to come, setting goals and chasing dreams, yet we were guarded realizing that Canada could be pulled into the economic turmoil that had the rest of the world scrambling for survival. Canada continued to defy logic and lead the world in economic stability. Fueled by low interest rates and protected by our strict lending criteria, Canada's hot housing market continued to boost our economy and keep Canada well ahead of the others globally.
On a local level, the Greater Toronto Area showed healthy increases across the board in property values and unit sales. Consumer confidence continued to grow throughout the year and the strong housing market continued to generate tens of thousands of dollars in spin off revenues to keep our economy vibrant. On a personal level, 2011 set records for most sales, highest dollar volume and most referrals generated in a calendar year.

So much happened in 2011 as we reflect back on the year that was. It's hard to imagine that a year that seemed to fly by was packed with so many exciting and humbling events. Your continued support allowed me the privilege of receiving a few coveted awards during 2011. I had the honour of receiving the RE/MAX Hall of Fame Award in February, REBAC's Accredited Buyer Representative designation in March and the coveted Chairman's Award from RE/MAX International in December. Thank you so much for your trust and support. Without you, these achievements would not be possible.

In 2012, there will be 4 main opportunities to be taken advantage of:
1.    First time home buyers.
2.    Investment/Income property purchasers.
3.    2nd home or vacation property purchasers.
4.    Buyers/Sellers looking to upsize/downsize.
 
If you or anyone you know falls into these categories, please get a hold of me so I can help. Because of where prices are and where they may go this year along with ridiculously low mortgage interest rates, this could be one of the best times in a very long time to make these moves. I've also added Foreign Investment opportunities to our offering, allowing you to take advantage of the strong Canadian dollar and depreciated assets in the USA and other countries. I'm very excited about this and would love to explain in more detail when we chat.
 
2011 was an incredible year, and thus it really is hard to say goodbye! However, say goodbye we must. Thank you for the memories 2011. We now welcome the dreams of 2012 with open hearts, minds and arms, dreams that will help us create more memories that we will cherish forever.

Cheers to 2012!!!

Asif

Asif Khan, ABR
Re/Max Hall of Fame
Re/Max Chairman's Club
Re/Max All-Stars Realty Inc., Brokerage
905-888-6222

Posted via email from Markham Real Estate Today with Asif Khan