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Manoj Kumar Arora

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Greater Toronto Area (GTA) Real Estate Sales decline in May 2017 while Home Prices increase 

TORONTO, June 5, 2017 – Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 10,196 sales through TREB’s MLS® System in May 2017 – down by 20.3 per cent compared to 12,790 sales reported in May 2016. Sales of detached homes were down by 26.3 per cent. Sales of condominium apartments were down by 6.4 per cent.

The supply of listings was up strongly over the same period. Active listings – the number of Properties available for sale – at the end of May were up by 42.9 per cent compared to the record low a year earlier. The number increased considerably for low-rise home types including detached and semi-detached houses and townhouses. Active listings for condominium apartments were down compared to May 2016.

“Home Buyers definitely benefited from a better supplied market in May, both in comparison to the same time last year and to the first four months of 2017. However, even with the robust increase in active listings, inventory levels remain low. At the end of May, we had less than two months of inventory. This is why we continued to see very strong annual rates of price growth, albeit lower than the peak growth rates earlier this year,” said Mr. Cerqua.

Selling prices continued to increase strongly in May compared to the same month in 2016. The MLS® HPI Composite Benchmark price was up by 29 per cent year-over-year. The average selling price for all home types combined for the TREB Market Area as a whole was up by 14.9 per cent to $863,910. Year-over-year price increases were greater for condominium apartments compared to low-rise home types. This likely reflects the fact that the low-rise market segments benefited most from the increase in listings.

“The actual, or normalized, effect of the Ontario Fair Housing Plan remains to be seen. In the past, some housing policy changes have initially led to an overreaction on the part of homeowners and Buyers, which later balanced out. On the listings front, the increase in active listings suggests that homeowners, after a protracted delay, are starting to react to the strong price growth we’ve experienced over the past year by Listing their home for sale to take advantage of these equity gains,” said Jason Mercer, TREB’s Director of Market Analysis.

READ THE COMPLETE MARKET WATCH REPORT HERE

 

Do You Know What Your Neighbors At 3888 Duke of York Blvd. Mississauga Did Last Night?


It May Come As A Surprise To You – But They’ve Been Plotting For A Long Time!

Your neighbors at 3888 Duke of York  Mississauga, Ontario have decided to sell their condo, and they listed it with Manoj Arora of Ace Team  Realty.  They thought about it long and hard, and interviewed several agents before choosing Manoj. And now that they have made the decision to sell, they need your help to do it.

 

Their rarely available two  bedroom,two-bath beautiful condo with 9’ ceiling and 2 parking spots  is listed for sale at only $462.,900.  The owners have put a lot of work into the unit over the last several years – it shows like a model!             

Stainless Steel Appliances, Extended Long Kitchen Cabinets- Lots Of Storage, Gleaming Laminate Flooring & Wide B. Boards, Custom Closet Organizers and fresh paint add value to this mint condition Condominium with Relaxing View Of Water Fountain. **Added advantage is that Hydro is Included In Maintenance fee. Building  is loaded with State Of The Art Amenities like Theater, 5-Pin Bowling, Virtual Golf, Indoor Pool, Gym, Guest Suites & Bbq. .,24 Hrs Concierge Service & Alarm System..

If you know anyone who is thinking of buying a Condominium in the Square One area of Mississauga, be sure to tell them about this great opportunity to own this beautiful property.

Manoj has also prepared a special report called The 10 Dumbest Mistakes Smart People Make when Buying or Selling a Home that he would like to offer to you or anyone you know.

For a free copy of this informative report, just call 888-355-3155, ext. 23 for a 24-hour Free Recorded Message.

               

In the meantime, your neighbors would appreciate it if you kept your eyes and ears open for a buyer for their Condo.

 

CHECK MORE PROPERTY DETAILS, PICTURES AND VIRTUAL TOUR HERE

 
 
 
  

HOMES SALES DECLINE WHILE PRICES INCREASE 17% DURING FIRST HALF OF MAY 2017 

May 17, 2017 – Greater Toronto Area REALTORS® reported 5,021 transactions through TREB’s MLS® System during the first 14 days of May 2017. This result was down by 16 per cent in comparison to the same time period in May 2016. The decline in sales was greatest for low-rise home types, including detached and semi-detached houses and townhouses.

The number of new listings was up by 46.9 per cent year-over-year to 12,626, compared to 8,596 new listings entered during the first two weeks of May 2016. Growth in new listings was strongest for low-rise home types. From a geographic perspective, year-over-year growth in new listings was much stronger in the GTA regions surrounding the City of Toronto compared to the City itself.

Growth in average Selling prices remained very strong compared to last year. Through the first 14 days of May, the average selling price for all home types combined was $890,284 – up 17.3 per cent compared to the same period in 2016. For the TREB Market Area as a whole, the strongest rates of price growth were reported for condominium apartments, at 28.5 per cent. However, annual rates of price growth for low-rise home types remained strong as well – ranging from 16.7 per cent for detached houses to 25.5 per cent for semi-detached houses.

While we have certainly experienced a better supplied market over the past two months, inventory levels remain low in many neighbourhoods, hence the continuation of double-digit rates of price growth. If we continue to see new listings growth outstripping sales growth we could see the pace of price growth slow further.

  

Greater Toronto Area (GTA) MLS property listings of low rise homes increased in April 2017, so did real estate prices by 24.5% 

TORONTO, ONTARIO, May 3, 2017 –The Toronto Real Estate Board President Larry Cerqua announces that Greater Toronto Area REALTORS® entered 33.6 per cent more new listings into TREB's MLS® System in April 2017, at 21,630, compared to the same month in 2016. New listings were up by double-digits for all low-rise home types, including detached and semi-detached houses and townhouses. New listings for condominium apartments were at the same level as last year.

Total sales for the TREB market area as a whole amounted to 11,630 – down 3.2 per cent year-over-year. One issue underlying this decline was the fact that Easter fell in April in 2017 versus March in 2016, which resulted in fewer working days this year compared to last and, historically, most sales are entered into TREB's MLS® System on working days.

"The fact that we experienced extremely strong growth in new listings in April means that Buyers benefited from considerably more choice in the marketplace. It is too early to tell whether the increase in new listings was simply due to households reacting to the strong double-digit price growth reported over the past year or if some of the increase was also a reaction to the Ontario Government's recently announced Fair Housing Plan," said Mr. Cerqua.

The MLS® Home Price Index (HPI) Composite Benchmark Price was up by 31.7 per cent year-over-year in April 2017. Similarly, the average Selling price for all home types combined was up by 24.5 per cent to $920,791.

"It was encouraging to see a very strong year-over-year increase in new listings. If new listings growth continues to outpace sales growth moving forward, we will start to see more balanced market conditions. It will likely take a number of months to unwind the substantial pent-up demand that has built over the past two years. Expect annual rates of price growth to remain well-above the rate of inflation as we move through the spring and summer months," said Jason Mercer, TREB's Director of Market Analysis. 

"It is not yet clear what impact the measures contained within the Ontario Government's Fair Housing Plan have had on TREB’s market area or the broader Greater Golden Horseshoe. Despite the recent uptick in new listings on TREB's MLS® System, we believe that we all have to be committed to a better understanding of issues affecting demand and supply dynamics in our marketplace.

READ THE COMPLETE MARKET WATCH REPORT HERE

 

‚ÄčLast chance to invest in Bloor Promanade Condos by Tridel at Islington Subway Station, Toronto - VIP Sale - Register Now

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Ontario Government Passes Home Inspection Legislation

by Manoj Kumar Arora
Ontario Government Passes Home Inspection Legislation 

On April 10, 2017, the Ontario government announced that it passed Bill 59, also known as the Putting Consumers First Act, which includes licensing home inspectors and regulating the home inspection industry.

Although the legislation has been passed, the government still needs to work through the details regarding home inspectors' mandatory licensing and qualifications, as well as minimum standards for contracts, reports, and disclosures before this Bill is implemented. Details on licensing and regulations will be coming in the future, but this announcement represents a great step towards regulating this profession and increasing consumer protection.  

TREB welcomes this announcement, as REALTORS® have been advocating for such legislation, and TREB looks forward to continue working closely with the government as it moves to develop regulations before implementing this Bill.

Greater Toronto Area (GTA) Real Estate Market Sales jump 17.7% in March, 2017 soaring Home Prices to 33% over 2016

TORONTO, ONTARIO, April 5, 2017– Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 12,077 residential sales through TREB’s MLS® System in March 2017. This result represented a 17.7 per cent increase compared to the 10,260 sales reported in March 2016. For the TREB market area as a whole, annual sales growth was strongest for condominium apartments and detached houses.

The number of new listings also increased on a year-over-year basis, at 17,051 – a 15.2 per cent increase compared to March 2016. The strongest growth in new listings was experienced in the detached market segment. While new listings were up strongly compared to last year, the rate new listings growth was still lower than the rate of sales growth. As a result, GTA market conditions continued to tighten.

“It has been encouraging to see that policymakers have not implemented any knee-jerk policies regarding the GTA housing market. Different levels of government are holding consultations with market stakeholders and TREB has participated and will continue to participate in these discussions. Policy makers must remember that it is the interplay between the demand for and supply of listings that influences price growth,” said Mr. Cerqua.

Strong competition between Buyers continued to cause high levels of price growth in all major market segments. The MLS® Home Price Index (HPI) Composite Benchmark Price was up by 28.6 per cent year-over-year. For the TREB market area as a whole, the average Selling price was up by 33.2 per cent, with similar annual rates of growth in the low-rise and condominium apartment segments.

“Annual rates of price growth continued to accelerate in March as growth in sales outstripped growth in listings. A substantial period of months in which listings growth is greater than sales growth will be required to bring the GTA housing market back into balance. As policy makers seek to achieve this balance, it is important that an evidence-based approach is followed,” said Jason Mercer, TREB’s Director of Market Analysis. 

Read the Complete Market Watch Report Here

 

Great investment Opportunity - Bloor Promanade Condos by Tridel at Islington Subway Station, Toronto - VIP Sale - Register Now


Welcome to Bloor Promenade Condos, an ultra-connected master planned neighborhood at Bloor and Islington, in the heart of historical Islington Village.  steps from the Bloor/Islington Subway Station, this neighborhood functions 3 noticeably modern-day condo buildings.

Bloor Promenade condos is a new condo project located at Cordova Avenue & Mabelle Avenue, Etobicoke, will be developed by Tridel.Simply steps from the subway at Bloor and Islington is Tridel’s most recent master planned  neighborhood – Islington Terrace – surrounded by practical community facilities, easy access to Downtown by TTC and over 10,000 sq. ft. of retail at ground level.

  • Wisely developed 1 bedroom, 1 plus den, 2 bedroom and 2 plus den suite finished with Tridel’s exceptional quality features and finishes.
  • Grand Terrace Club leisure facilities with magnificent roof landscaped terrace
  • Easy access to and from the Islington Subway & Bus Station
  • Practical retail providings on the Terrace Plaza level.

VIP SALE STARTS SUNDAY APRIL 09, 2017 - DON'T WAIT REGISTER NOW AND GET PRIORITY ACCESS

 

Rogers M City Condos, Mississauga - VIP Sales open March 22, 2017 - Register Now for your priority access


In 2007 Urban Capital and Rogers Real Estate Development Limited began the meticulous journey of taking a 15-acregreenfield site through master site plan approvals. Ten years later, the last major development parcel in Mississauga City Centre is launching as the one-of-a-kind “M City”. This future-forward community will be defined by world-class architecture and technology, and a lively pedestrian experience with new parkland and outdoor spaces.

On March 22, 2017 M City will launch with an iconic first tower by CORE Architects, winners of a design competition run by Urban Capital to redefine Mississauga’s skyline and set the tone for the future phases. The amenity program by Cecconi-Simone will be equally bold, featuring a 14,000 square foot amenity terrace with an outdoor pool and ice skating rink.

  • Pricing from just $198,900!
  • AAA Location - you are in the heart of Mississauga
  • Walking distance to Square One Shopping Centre which has recently gone through a $380 Million Expansion
  • Walking distance to Sheridan College which has gone through a massive expansion that will add an additional 3,200 students to its campus. Total enrollment can now hold up to 5,500 Students
  • Walking Distance to Celebration Square, the YMCA, City Hall, Mississauga Library
  • Walking distance to a stop along the Mississauga-Brampton LRT which has just received provincial funding which will run from the Brampton GO all the way down to the Port Credit GO.
  • In close proximity to the MiWay Transit System, GO Train Station and Highways 403, 401, 410 & 407

REGISTER NOW TO GET VIP ACCESS TO THIS AMAZING UPCOMING PROJECT

 

Toronto Real Estate Board Cautions Against The Imposition Of Provincial Foreign Buyer Tax Surcharge, Noting It Will Not Address Real Problem Of Housing Supply Shortage

TORONTO, March 10, 2017 - The Toronto Real Estate Board strongly urges against the imposition of another provincial tax on foreign Buyers, which would be in addition to existing provincial taxes on home buyers, including the land transfer tax that they already pay. An additional tax on foreign buyers would do little to address the real problem facing the GTA housing market; a supply shortage which is at more than a 15-year low.

The consideration to impose this tax follows on the heels of a statement last year by the Ontario Finance Minister not to follow the lead of British Columbia, which imposed a 15 per cent land transfer tax surcharge on foreign Buyers in July 2016.

“When the idea of introducing a foreign buyer tax in Ontario surfaced last year, TREB cautioned it would be a knee-jerk reaction before knowing whether a problem existed. There was little in the way of reliable data on the issue. To better understand the foreign buyer issue, TREB commissioned an Ipsos survey on foreign buying activity in the GTA, the results of which show that concerns about the effect of foreign Buyers on the GTA market are widely overblown,” said TREB President, Larry Cerqua.

The survey, conducted in the fall of 2016, found that only an estimated 4.9 per cent of GTA transactions, in which TREB REALTOR® Members acted on behalf of a buyer, involved a foreign purchaser. The vast majority (80 per cent) of foreign Buyers purchased a home as a residence, a home for another family member to live in, or as an investment to rent out to a tenant. TREB is continuing its research in this area. 

READ COMPLETE REPORT HERE

Displaying blog entries 1-10 of 215

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Photo of Manoj Kumar Arora, Broker of Record Real Estate
Manoj Kumar Arora, Broker of Record
Ace Team Realty Inc., Brokerage
77 City Centre Drive, East Tower, Suite 501
Mississauga ON L5B 1M5
905-488-3101
1-888-355-3155
Fax: 1-888-443-3155

Contact Information

Photo of Manoj Kumar Arora, Broker of Record Real Estate
Manoj Kumar Arora, Broker of Record
Ace Team Realty Inc., Brokerage
77 City Centre Drive, East Tower, Suite 501
Mississauga ON L5B 1M5
905-488-3101
1-888-355-3155
Fax: 1-888-443-3155