The Essential Condos - Team Khan

The Essential Condos Team Khan VIP Event on now! Emery's The Essential Condos are now available during a VIP Broker Preview. Get in on the ground floor and don't look back. This is a tremendous opportunity, however it won't last long. Call Asif Khan at 905-888-6222 or 416-985-5426 and reserve your unit with just a $2500 initial deposit. When this opens to the public, it will be sold out! Get in NOW!

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Toronto Real Estate Board Fires Back At Competition Bureau!

The Toronto Real Estate Board (TREB) filed its official response to the Competition Bureau’s complaint on Friday, requesting that the Competition Tribunal dismiss the application with costs payable to TREB.
“We have patiently and tolerantly waited for the opportunity to respond to the Competition Bureau, and today we filed a response rejecting the commissioner’s position and outlining why we believe the application has no merit,” says TREB president Richard Silver in a news release.
“TREB has followed through on its commitment to provide Realtor members with greater flexibility to serve their clients by developing a Virtual Office Website (VOW) policy. The VOW policy will allow for secure password-protected websites designed to allow consumers to search and display MLS listing data, with the benefit of a Realtor member’s oversight, supervision and accountability,” says the release.
TREB says the commissioner “is pressuring TREB to release private data about individual consumers openly on the Internet. This could include personal contact and financial information including sale prices. TREB believes that would be reckless and a violation of the law and will harm consumers in the process of buying and selling real estate.”
“Not only does the Commissioner’s Amended Notice of Application continue to endanger the privacy rights of consumers, but we do not believe it can succeed under the Competition Act. The Commissioner’s Amendment is unnecessary posturing for publicity. Consumers simply deserve better,” says Silver.
TREB’s response says the commissioner’s application “ignores the copyright of TREB and its members,” stating that the exercise of its rights of copyright “is not an anti-competitive act” under the legislation.
TREB says the Competition Bureau must satisfy the tribunal that “TREB substantially or completely controls the markets identified by the commissioner for the purpose of this application, namely, the supply of residential real estate brokerage services to home buyers and sellers….”
But it says TREB does not supply residential real estate brokerage services either to buyers or sellers, and “has no legislative authority” to do so.
It also says that neither TREB’s Access Terms for the MLS, nor the board’s Proposed VOW policy “will or are likely to substantially prevent or lessen competition, whether in the manner alleged by the commissioner or at all.”
The response says, “Consumers of residential real estate brokerage services already have a number of search tools open to them for the purpose of identifying and then narrowing the search to those properties of interest to them. A number of providers offer services to home buyers and sellers that do not rely on those home sellers acquiring the traditional suite of residential real estate brokerage services offered by ‘bricks and mortar’ brokers…Further, there are no restrictions whatsoever placed by TREB on its members that preclude members from also making their listings available through the multitude of websites and listing services not affiliated with TREB.
“The commissioner’s application significantly undervalues both the services that many brokerages offer home buyers and the very real role brokers play in stimulating trade in the relevant markets. The work of a broker is not meaningfully lessened by reason of home buyers having undertaken their own searches…”
The response continues, “While identifying properties of interest is certainly an important aspect of the buying process, it is by no means either the most time intensive aspect of the service brokers provide, nor the aspect of service that is of greatest value to the home buyer. Any suggestion to the contrary is simply inaccurate.”

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

Posted via email from Markham Real Estate Today with Asif Khan

The Essential Condos - VIP Sales Event http://t.co/UUQ3k9L

The Essential Condos - VIP Sales Event

EMERY Condominiums has hit a home-run with their fusion of contemporary
excitement and sleek architectural design. The Essential will be everything
you could imagine in one of Markham's most sought after neighbourhoods. The
Essential is inspired by world class architects Turner Fleisher and
award-winning interior designers Chapman Design Group. I had the privilege of attending Emery's VIP Broker Preview today and this
is one breathtaking project! Furthermore, Team Khan clients will receive
$5,000 OFF the purchase price of a unit from the Inspiration Collection or
the Distinctive Collection; $7500 OFF the purchase price of a unit from the
Elegant Grand Collections, and an incredible $10,000 OFF the purchase price
of a unit from the Bungalow Collection!! YES! Bungalows will be built to
the side of the mid-rise condo. Pricing is unreal, and if that wasn't
enough to have made up your mind already, Team Khan clients will have a FREE
ASSIGNMENT privilege built into their purchase. If you've been looking for a can't miss opportunity, THIS is the one! These
units will go quick, so call me or email me NOW to register and we'll save
you a spot. We are arranging a meeting time on Saturday to meet at my Bur
Oak office and head to the Presentation Centre together to check out the
floor plans. Can't make it? No worries, I have floor plans and pricing to
share with you.

For Floor Plans and Pricing, call me on my cell at 416-985-5426 or email us
at teamkhan@asifkhan.ca.

Asif Khan, ABR

Re/Max All-Stars Realty Inc.

www.asifkhan.ca www.teamkhan.net

905-888-6222

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Posted via email from Markham Real Estate Today with Asif Khan

The Essential - Markham's Essential Address

EMERY Condominiums has hit a home-run with their fusion of contemporary excitement and sleek architectural design.  The Essential will be everything you could imagine in one of Markham’s most sought after neighbourhoods.  The Essential is inspired by world class architects Turner Fleisher and award-winning interior designers Chapman Design Group. 

I had the privilege of attending Emery’s VIP Broker Preview today and this is one breathtaking project!  Furthermore, Team Khan clients will receive $5,000 OFF the purchase price of a unit from the Inspiration Collection or the Distinctive Collection; $7500 OFF the purchase price of a unit from the Elegant Grand Collections, and an incredible $10,000 OFF the purchase price of a unit from the Bungalow Collection!!  YES!  Bungalows will be built to the side of the mid-rise condo.  Pricing is unreal, and if that wasn’t enough to have made up your mind already, Team Khan clients will have a FREE ASSIGNMENT privilege built into their purchase. 

If you’ve been looking for a can’t miss opportunity, THIS is the one! These units will go quick, so call me or email me NOW to register and we’ll save you a spot.  We are arranging a meeting time on Saturday to meet at my Bur Oak office and head to the Presentation Centre together to check out the floor plans.  Can’t make it?  No worries, I have floor plans and pricing to share with you.

For Floor Plans and Pricing, call me on my cell at 416-985-5426 or email us at teamkhan@asifkhan.ca.

Asif Khan, ABR

Re/Max All-Stars Realty Inc.

www.asifkhan.ca  www.teamkhan.net

905-888-6222

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Posted via email from Markham Real Estate Today with Asif Khan

The Essential - Markham's Finest Condos Now Selling!

A can't miss investment opportunity has arrived in Markham. Mid-rise condos and bungalows have just been released at McCowan Road and Bur Oak Avenue. Give me a call for VIP pricing and get I on these before it opens to the public this weekend. Asif Khan
905-888-6222
www.asifkhan.ca

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

Posted via email from Markham Real Estate Today with Asif Khan

Real estate buyers to focus on low interest, ignore market turmoil: economists

Great article highlighting the stability and strength of the Canadian Housing market. Great points, however the predictions of a price-drop need to be taken with a grain of salt as economists always refer to "average" home pricing. Your home will not drop in price, nor will the home you are looking at buying.

Asif

By Mary Gazze, The Canadian Press | The Canadian Press - 3 hours ago

TORONTO - Canada's real estate market is now expected to grow this year rather than decline, as buyers take advantage of continued low interest rates that are intended to offset recent economic turmoil, economists said Tuesday.

The comments came after the Canadian Real Estate Association revised its 2011 national forecast for home resales, citing stronger than expected sales and higher prices in the second quarter.

An earlier CREA forecast that called for a one per cent dip in sales this year from 2011. But the association said Tuesday sales should grow this year — albeit less than one per cent above 2010.

CIBC deputy chief economist Benjamin Tal said recent stock market uncertainty due to the European debt crisis and the United States credit downgrade is actually helping boost sales in Canada's real-estate market.

Bad economic news abroad tends to keep Canadian interest rates low, he said.

Since the European and American debt issues came to a head in recent weeks, economists have been predicting the Bank of Canada will leave its key rate untouched at one per cent until at least next year.

That's a change of opinion since last winter, when economists widely expected Canada's central bank would begin hiking its rates sometime in 2011 as the economy strengthened — putting upward pressure on the price of borrowing.

With the global economy now looking weaker than expected, and the U.S. Federal Reserve promising last week that it will keep its key short-term rate at an all-time low for another two years, the Bank of Canada is now expected to put off raising its short-term lending rates.

"The uncertainty globally is really benefiting mortgage holders because it's really postponing the increase in interest rates in Canada," Tal said, explaining that when the stock market turns volatile, real estate becomes an attractive investment because of its security.

"Many people can use this opportunity to look into extremely low mortgage rates, so again the misery of other people elsewhere is helping Canadian home buyers."

Sonya Gulati, an economist at TD Economics said the bank is anticipating that sales will be a bit more subdued in the next two months, but buyers, especially first timers and immigrants won't likely be deterred in the longer term as interest rates stay low.

"People may be waiting to see whether or not they want to purchase homes, see if things turn for the better. It really has been a roller coaster for the last little while so we anticipate a little bit more subdued activity in August and September," she said.

"(The stock market) will be a factor in their decision making process, but at the end of the day one of the key things for people is the interest rate and mortgage rates are still very low and they may actually want to enter the market for that reason despite the uncertainty out there."

Meanwhile, CREA's chief economist Gregory Klump said it is too early to judge whether buyers are moving towards or shying away from real estate due to volatile stock markets. But he said historically, real estate does well during times of uncertainty.

"During periods of financial market upheaval the Canadian real estate market has remained far more stable," he said, adding that even though some investors put off buying high end homes during the financial crisis of 2008 and 2009, those buyers returned to real estate soon after recovery began.

"The last time we had financial market instability, the housing market wasn't immune, but it was certainly less volatile and certainly Canadians recognize that and feel comfortable investing in their home."

Overall, CREA said Tuesday that 450,800 housing units are expected to be sold across Canada under its Multiple Listing Service in 2011, and the average selling price will be slightly higher. In May, it had estimated 441,100 units would be sold through the MLS.

About 90 per cent of home resales in Canada are listed on MLS.

Both Gulati and Tal said they expect the market to cool off in 2012 once interest rates rise again. Gulati said home prices could fall as much as 10 per cent, while Tal said they could fall between five and 10. Gulati described this as a "correction" while Tal said it was an "adjustment," but "nothing to write home about."

Meanwhile, the association said it was revising its sales expectations for 2012 downward to 447,000 units, roughly on par with the 10-year average.

On a regional basis, British Columbia's 2011 sales forecast has been revised slightly higher as home sales in the province appear to have bottomed out soon than predicted, while stronger than expected activity in Ontario is expected to offset slightly softer than anticipated demand in Québec, Manitoba and Newfoundland and Labrador.

CREA said it now expects the national average home price will rise 7.2 per cent in 2011, to $363,500. The previous estimate in May was $352,500.

The upward revision reflects increases in the second quarter in Vancouver and acceleration in other parts of the country, particularly Toronto. Vancouver has experienced a surge in multimillion-dollar home sales this year.

CREA said the two markets have a high number of sales and average price, so they play a big part in influencing the national average.

Additional new listings should also result in a more balanced resale housing market in most provinces, with the national average price forecast to stabilize in 2012.

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

Posted via email from Markham Real Estate Today with Asif Khan