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RE/MAX 2010 Housing Market Outlook - Housing performance expected to accelerate in 2010

Housing performance expected to accelerate in 2010, as economic stability returns to Canadian markets, says RE/MAX

Mississauga, ON (December 3, 2009) - In the midst of one of the most tumultuous economic periods in recent history, residential real estate has proven to be a safe harbour, with sales and average price expected to post gains in most major Canadian cities in 2009, according to a report released today by RE/MAX.

The RE/MAX Housing Market Outlook for 2010 examined residential real estate trends in 23 markets. The report found that sales are forecast to recover in almost all major centres by year-end 2009, led by an anticipated 45 per cent increase in Greater Vancouver. Two markets -- Ottawa and Quebec City -- are expected to hit historic highs in the number of homes sold. Average price should post new records in 65 per cent of markets surveyed this year. As economic performance ramps up across the country, so too will residential real estate. Eighty-three per cent of markets (19/23) are expecting sales to increase over 2009 levels while housing values are forecast to escalate in 91 per cent (21/23) of Canadian centres in 2010. The remaining markets will match 2009 levels.

Approximately 465,000 homes are expected to change hands nationally in 2009, a seven per cent increase over one year ago. Canadian housing values are forecast to close the year at $318,000, up five per cent from $303,594 in 2008. By year-end 2010, the number of homes sold is predicted to climb another two per cent to 475,000 units. The average price of a home is also expected to experience an uptick, rising two per cent to $325,000 - the highest level in Canadian history.

"2009 was without question the year of the house," says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. "Real estate not only defied industry and analysts' predictions in 2009 -- it's performance went well beyond the realm of expectation by boosting consumer confidence levels and ultimately kick starting the national economic engine. While low interest rates were a principle factor driving home buying activity, no one can discount the value that Canadians place in owning a home."

Information from RE/MAX Ontario-Atlantic Canada Inc.

 

How Can I Help You Today?

John den Ouden

Sales Representative

RE/MAX Hallmark Realty Ltd.

416-699-9292

Email me at jdenouden@trebnet.com

TREB Reports Strong Growth in October MLS Transactions

TORONTO, November 4, 2009

- In October 2009, Greater Toronto REALTORS® reported

8,476 sales, up 64 per cent from October 2008. The average price for October transactions was $423,559 – up by 20 per cent compared to the same month last year.

"Strong sales growth has occurred across many property classes – from price ranges that would attract first-time buyers to luxury properties selling for over one million dollars," said TREB President Tom Lebour. “The highest rate of sales growth in October was experienced for properties selling for over $750,000. In contrast, luxury home sales declined at an above-average rate last year.”

Year-to-date sales, at 74,721, were up nine per cent compared to the first ten months of 2008. Average price, at $392,264 was up by almost three per cent.

"After a short dip in the winter, the average home price in the GTA has rebounded because sales have been high relative to listings," according to Jason Mercer, TREB's Senior Manager of Market Analysis. “Watch for listings to rebound in 2010 as home owners react to the strong sales and price growth experienced in the latter half of this year.”

Click Download Market Watch Report for October 2009 to view the whole report.

 

How Can I Help You Today?

John den Ouden

RE/MAX Hallmark Realty Ltd.

416-699-9292

Email me at jdenouden@trebnet.com

GTA Housing Market Rebound Continues in September

TORONTO, October 5, 2009

- In September 2009, Greater Toronto REALTORS® reported, 196 sales, up 28 per cent from September 2008. The average price for September transactions was $406,877 – up by 10 per cent compared to the same month last year.

"We have experienced an increasing rate of existing home price growth in the GTA as sales have continued to outpace 2008 results," said TREB President Tom Lebour. "Consumers have remained confident in ownership housing as a long-term investment."

Year-to-date sales, at 66,437 were up 4.5 per cent compared to the first nine months of 2008. Average price, at $388,417 was up by almost 1.5 per cent.

"Existing home sales will finish strong this year, pushing through the 80,000 mark and moving in line with some of the best years on record under the current TREB market area," according to Jason Mercer, TREB's Senior Manager of Market Analysis.

Click Download Market Watch Report for September 2009 to view the entire report.

 

How Can I Help You Today?

John den Ouden

Sales Representative

RE/MAX Hallmark Realty Ltd.

416-6999292

 

Email me at jdenouden@trebnet.com

 

YARD SALE FOR THE CURE - SATURDAY, MAY 30th

Yard Sale For The Cure is the brainchild of some friends of mine - Rachael Smith nad Andrew Howard.   Click Here to read about how it all began. It's an inspiring story and the fundraising idea is brilliant. I'm proud to say that RE/MAX Hallmark is a founding sponsor of this worthwhile cause.

Yard Sale for the Cure is an organization that raises money for Breast Cancer research and treatment by holding a massive series of Yard Sales in selected neighbourhoods across Canada. In 2005, the inaugural event was held in the Toronto Beaches. It was a huge success, raised $45 000 and brought people together with a great sense of community and purpose. Now a growing number of people from across Canada are taking on this idea and Yard Sale for the Cure will be launched in markets across the country. To date Yard Sale for the Cure has raised over $450,000.

Yard Sale for the Cure will be widely publicized and advertised in each of the communities, so lots of people will be attracted to shop at your Yard Sale. In fact, in 2006, $3.2 million dollars of PR and over $200 thousand in free media was secured to help promote the one event.

For more information about organizing a Yard Sale go to their website at www.yardsaleforthecure.com

 

How Can I Help You Today?

John den Ouden

RE/MAX Hallmark Realty Ltd., Brokerage

Email me at jdenouden@trebnet.com

Breakfast Program for Kids!

A colleague and friend of mine, Carolyn Griffis, saw a need a few years ago that shook her up.  Some high-risk public schools were loosing their funding for their breakfast programs.  She rallied some co-workers at RE/MAX Hallmark to financially support and volunteer at one particular school to assist in keeping the program alive.

This program has mushroomed with assistance from the Toronto Real Estate Board.  Our company and others now supply nutritious breakfasts to 1,500 children in 10 public schools each and every day.  It costs $1.00 a day to feed a child.  Unfortunately the Toronto District School Board has identified 80 additional schools in immediate need of a nutrition program. 

Two years ago, we held our first Breakfast Program Fundraiser, raising over $23,000.00 to build a kitchen at First Nations Public School. 

On May 7, 2009, we are holding our second Fundraising Event.  The generosity of people is really overwhelming and our goal?  A modest $15,000.00, given the economy has hurt a few companies.  The event is being held at MYTH Restaurant, 417 Danforth Avenue.  Start time is 7:00 p.m.  This year we have amazing donations:  Platinum Basketball Tickets, Platinum Hockey Tickets, Behind the Bench Baseball Tickets, Chalet for 2 nights in Collingwood, Wine Tour for 10 Niagara Region, lots of beautiful Art, Jewellery and of course, our generous suppliers are providing much needed Real Estate stuff for us to bid on. 

There is a lively LIVE Auction and an excellent Silent Auction as well.  We hope to have over 60 items in the Silent Auction arena.

Tickets are $25 and all proceeds go to the Children's Breakfast Program.  Hope you can come out! We'd love to see you! Or, if you would like to make a donation contact me. A tax receipt is available for any donation over $10.

How Can I Help You Today?

John den Ouden

RE/MAX Hallark Realty Ltd.

Email me at jdenouden@trebnet.com

RE/MAX Hallmark is the Market Share Leader in 2008 - Toronto

The sales statistics for 2008 are in for all the real estate companies in Toronto and I'M proud to say RE/MAX Hallmark offices across the city have a dominant market share.

 

In Toronto overall, our company had 2,294 sales with their closest competitor having just 1,855.  Only 2 other companies had over 1,000 sales during the year and the number 10 company had just 607.

In the central core of Toronto (C01 & C02 only), all RE/MAX offices had 1,805 sales (click  Download 2008 Central Toronto Sales Statistics) compared with 1,463 for Royal LePage and just 154 MLS sales for Brad Lamb Realty.

In the Toronto Real Estate Board East districts of E01, E02, E03 and E06, RE/MAX Hallmark had 1,592 sales (Click  Download REMAX Hallmark 2008 East Toronto Sales Statistics) vs 432 for Royal LePage Estates and Keller Williams with just 198.

So how does this benefit you as a buyer or seller in Toronto?  The most important thing is experience!  RE/MAX Hallmark has over 525 full time realtors. The synergy created by these highly motivated agents lends itself to more listings for our buyers to see and more buyers to show our listings to.

I'm very proud to say I have worked for this tremendous organization since 1990. The numbers don't lie!

How Can I help You Today?

John den Ouden

Sales Representative

Email me at jdenouden@trebnet.com

March Resale Housing Results Bring Positive News

In March 2009, Greater Toronto REALTORS® reported 6,171 sales – down seven per cent from March 2008, representing the smallest year-over-year decline in the last five months.  The average price for March transactions was $362,052 – down less than five per cent from the same month last year.

"The Greater Toronto market has stood up very wellgiven the challenging economic times the world has experienced in recent months," commented TREB Preseident Maureen O'Neill.

Click here to Download MARKET WATCH REPORT FOR MARCH 2009.

 

HOW CAN I HELP YOU TODAY?

John den Ouden

RE/MAX Hallmark Realty Ltd.

Email me at jdenouden@trebnet.com

February Shows an Improvement in The Toronto Real Estate Market

Here's a theory - not mine.  The theory is that since the stock market and economies worldwide have dropped so much so fast, and many countries are providing unprecedented stimulus, it will be easier for consumers and corporations to start the recovery sooner in the this recession cycle than has typically happened before.

KEVIN CARMICHAEL of The Globe and Mail wrote a piece with the following headline: ‘Sharp Drop Into Recession Suggests Pain Will Be Short’.  CLICK HERE to read the article.

While acknowledging the fear factor that exists in the average Canadian as household spending fell for the first time in 13 years, he suggests that the faster governments stimulus programs are spent, the better chances are the recession will end quickly. The glimmer of hope comes from the fact that Canada's descent into recession last year was faster and deeper than the two previous economic contractions in the early 1990s and the early 1980s.

Today the Bank of Canada lowered it’s bank rate by another 1/2% and the banks have responded by moving the prime rate down to 2.5% from 3.0%  For those with a variable rate mortgage, their rate will now drop by the same amount.

On the Real Estate front, we’re definitely seeing clients of ours who are taking advantage of the lower prices, higher inventory and low mortgage rates and making a move into a larger home with more space for less money than they could have purchased in the last couple of years.

The Toronto Real Estate Board stats bear up this prognosis.  The bellweather ratio of sales-to-listings which in November and December of 2008 and January 2009 were in the 13% range (strong buyer market territory) has now moved to 19.2% for the month of February. The market is picking up some momentum,

CMHC has just issued their Housing Market Outlook report for the first quarter of 2009.

CLICK HERE  to download your own copy. 

How Can I Help You Today?

John den Ouden

Contact me at jdenouden@trebnet.com

The Canadian Economy: An Outsider’s Viewpoint

Fareed Zacharia of CNN has written an article for February’s Newsweek that is a must read for all Canadians, especially our ”naysayers”. It is in the US Edition and is called a Worthwhile Canadian Initiative. It is an outsider’s view of the Canadian Banking system and the Canadian Economy in general.

However, I am not a total “pollyanna”. We are definitely in a recession in Canada, however, unlike the naysayers I don’t see us going down the road that the US has travelled, especially in housing. In the States, they talk about the absorption rate of the Housing stock. With the exception of the Toronto Condo Market, if all proposed buildings moved ahead, and they wont, we do not have anywhere near the stock of Housing that exists in the United States. Even though we have had job losses, mortgages have only been available to Canadians with a 31 to 33% Gross Debt Service ratio. In the United States, the GDS ration was once 60% (because of Mortgage deductibility) and now the American lenders are moving to the Canadian standard.

For too long Canadians feel that if it happens in the States, it will happen here. Sometimes your next-door neighbors have different issues, values and goals than you and are more frivolous with their finances. It does not mean that what happens in their home will be repeated in yours and we should stop that assumption.

CLICK HERE to read the article and pass it around.

How Can I Help You Today?

John den Ouden

Email me at jdenouden@trebnet.com

Here We Grow Again! We've Got You Covered!

RE/MAX Hallmark Adds two Offices in Richmond Hill and Oak Ridges.

 

Ken McLachlan, Broker owner of RE/MAX Hallmark, has announced that they have incresed their already strong presence in the Richmond Hill area by acquiring 2 real estate offices. Before the addition of these two offices, RE/MAX Hallmark already attributed to many deals in Richmond Hill. In fact our company is  ranked in the Top 10 of real estate company's in Richmond Hill - without having an office in the community. The new additions to RE/MAX Hallmark of these office will now give us a leading market share in the area.

 

With the additions, RE/MAX Hallmark Realty Ltd now has over 500 of the best real estate agents to serve the real estate community. Here are the locations and contact numbers:

RE/MAX HALLMARK REALTY LTD.  69 Underhill Drive   Toronto	C13	416-444-2144
RE/MAX HALLMARK REALTY LTD.   3434 Yonge Street  Toronto	C04	416-489-3434
RE/MAX HALLMARK REALTY LTD.   8 Weldrick Road West  Richmond Hill	N03	905-883-4922
RE/MAX HALLMARK REALTY LTD.   13321 Yonge Street   Richmond Hill	N05	905-313-8993
RE/MAX HALLMARK REALTY LTD.   724 Pape Avenue   Toronto	E03	416-462-1888
RE/MAX HALLMARK REALTY LTD.   2237 Queen Street East   Toronto	E02	416-699-9292
RE/MAX HALLMARK REALTY LTD  245 Fairview Mall Dr, Ste. 108  Toronto	C15	416-494-7653
RE/MAX HALLMARK REALTY LTD.   697 Mount Pleasant Road  Toronto	C10	416-486-5588

 

 "Our goal has always been and will continue to be, to grow our company in a fiscally responsible manner, with the addition of quality Realtors at key office locations.

Yesterday was a strong fulfillment of that goal and we couldn't be more pleased."

Congratulations Ken and Debra! You lead the real estate industry with your excellence  and committment to your agents.

                            

How Can I Help You Today!                         

John den Ouden

Email me at jdenouden@trebnet.com