Localism: Ontario

Over 3,600 Greater Toronto Area Resale Housing Sales in November

Thu, 04 Dec 2008 21:56:51 -0600

TORONTO, December 04, 2008 -- Greater Toronto REALTORS® recorded 3,640 transactions last month, from 7,313 sales in November 2007, Toronto Real Estate Board President Maureen O'Neill announced today.

Year-to-date sales figures for the Greater Toronto Area show 72,086 transactions in 2008, from 88,695 sales recorded in the same January to November period a year ago. By contrast, the 2008 year-to-date average price in the GTA is $379,489, from $375,445 in 2007.

"Its important for the public to understand that while sales activity has moderated in 2008, due to current economic conditions, the average price of homes has increased from 2006 still making real estate a solid long term investment," said O'Neill.

In the 416 area, 1,523 transactions took place last month, from 3,426 sales recorded in November 2007. From a year-to-date perspective, there have been 28,806 sales in the 416 area this year, from 36,804 transactions a year ago.

In the 905 Region 2,117 homes changed hands last month, from November 2007's 3,887 sales. The 905 Region's year-to-date figures show 43,280 transactions this year, from 51,891 sales recorded during the same period in 2007.

"Homeownership in the Greater Toronto Area continues to be an affordable, stable and secure investment," said Ms. O'Neill. "Home buyers and sellers should be confident about their bricks and mortar investment which provides shelter and a place to raise a family."

"Home prices are affordable, interest rates are at historical low levels and the supply of homes for sale is good providing additional reasons for buyers thinking of entering the market," added O'Neill.

The average price of a home in the GTA last month was $368,582, from $393,747 noted in November 2007. In November 2006 the average price was recorded at $355,727.

In the 416 area, last month's average price was $390,225, from $433,859 noted in November 2007. The average price recorded in November 2006 was $381,188. From a year-to-date perspective the 2008 average price in the 416 area is $411,155, from last year's $411,640.

In the 905 Region, the average price recorded last month was $353,012, from $358,391 recorded in November of 2007. In November 2006 the average price was $335,522. The year-to-date average price in the 905 Region this year is $359,245, from $349,774 in 2007.

The average number of days a home currently remains on the market in the GTA is 41, from an average of 32 days last November. There are currently 27,037 homes listed on the TorontoMLS system compared to 18,309 available properties in November 2007.

"While homeownership offers immediate benefits and long term value by way of equity, it also provides tax benefits over time," said Ms. O'Neill. "If you bought a house five years ago, it would be worth more than 20 per cent more today."

"As REALTORS®, we help build communities and will continue to do so even during challenging economic times," added Ms. O'Neill. "It's important to consult with a REALTOR® to get accurate local market information."

Read the complete Market Watch at our website at

http://www.aceteamrealty.com/Blog

Over 3,600 Greater Toronto Area Resale Housing Sales in November

Thu, 04 Dec 2008 21:33:44 -0600

Read the Complete Market Watch Report on my Blog at

http://www.aceteamrealty.com/Blog

Christmas On The Farm

Thu, 04 Dec 2008 18:29:45 -0600

Sunday December 14th, 2008

From 1:00pm to 4:00pm

Suggested Dontation $10.00 Per Car

Come and share this festive season. Have a hayride, visit the farm animals, purchase refreshments and lite snacks. Crafts and other seasonal surprises are planned for you and your family

Wind Reach Farm is the culmination of a life long interest of its founder Sandy Mitchell. He found the experience of working outside on the land, first in Scotland and then in a farming community for Downs Syndrome, helped him realize he wanted to provide a similar facility to help others with disabilities to be able to lead a productive life.

Sandy purchased a 109 acre farm property located in the rolling countryside, near Ashburn Ontario. With the purchase of the farm Sandy was able to combine his interest in working on the land, with the desire to provide an opportunity to other persons with disabilities. His goal is to enrich the lives of others by being able to enjoy experiences in farming, nature, outdoor recreation and other activities and to be able to share them with family and friends .

Officially opened in 1989 WindReach Farm now operates year round with the help of a charitable foundation formed in 1992 to ensure the continuation of Sandy' s work and in offering work training programs.

Directions From Uxbridge

East along Highway # 47 to Lakeridge Road (Durham #23)
Turn right (south) on Lakeridge Road (Durham #23)
Continue south on Lakeridge passing Lakeridge & Dagmar to Townline Road (Hy-Hope Farm is on right)
Turn left (east) onto Townline Road
Continue east along Townline Road (1.9 km) until you see # 312 on left side
The WindReach sign is located at the entrance of t he Farm.

Dual Agency and the Medical Profession

Thu, 04 Dec 2008 17:22:41 -0600

Dual Agency and the Medical Profession

By Brian Madigan LL.B.

The laws of agency have their origins in the 12th century BC. The early origins of the Hippocratic Oath for doctors arose in the 4th century BC. It is no surprise that there are startling similarities between the legal obligations owed by agents and the legal obligations owed by doctors to their patients, since this is simply a specific category of an agent-principal relationship.

There are some duties and obligations owed to clients that arise out of the common law of agency:

· Loyalty

· Confidentiality

· Obedience

· Competence

· Accounting

· Disclosure

· Best interests

Doctors followed these same duties and obligations when dealing with their patients, at least until about 200 years ago. Then, modern medicine intervened. Doctors became responsible to other third parties. Someone else was paying the bill, so their interests needed to be taken into consideration. Historically, doctors were employed by the military and treated the sick and injured. Who received care was influenced substantially by the military and not by the patients in need.

Today, doctors have many masters, not just two, which of course would be complicated enough. A doctor will be entrusted with responsibility to:

· Treat the patient

· Utilize scarce resources

· Expend insurance moneys

· Administer social programs (workers compensation, occupational health)

· Report to employers

· Report to licensing bodies on fitness to practice (professions)

· Report to transportation authorities in terms of fitness to drive

· Report child abuse (fitness to parent)

· Entitlement to restricted medications (writing prescriptions)

· Access to health insurance

· Access to benefit plans

· Assessment of injuries for legal system

The above list is not exhaustive, it is just a sampling of the various roles that a doctor practising modern medicine faces every day. The patient is not the sole and only principal. So, others may be interested in the patient's condition, particularly an insurance company paying the bill, or the province should the patient lose the ability to operate a vehicle. Who has the obligation to report? Doctors, of course! Isn't that a conflict of interest? Shouldn't they just serve one master and keep quiet? Perhaps!

But, that is not how modern medicine works. This is a profession. Doctors must weigh and balance each of their duties and responsibilities carefully. They may be serving a half-dozen separate masters in every decision they make.

When it comes to medicine, we are not really talking about dual agency, we are likely talking about triple agency or quadruple agency. This is expected, this is the norm. Doctors as professionals are expected to balance the various competing interests and arrive at an independent and unbiased decision. They are to render a "professional opinion", they are to bring "professional judgement" to bear on their cases. They decide which of two patients gets treated in the ICU.

When we review the role of the legal profession, we see that conflicts are rare. When we look at the medical profession, we see that conflicts are commonplace.

So, what does all this mean to realtors? What about dual agency? Is it appropriate to compare it to the legal profession? Or, should it be compared to the medical profession? What is right, and what is fair?

By medical standards, dual agency should be fine. It doesn't occur that frequently, and when it does, it can be resolved to the client's interest.

By legal standards (comparing realtors to lawyers), dual agency is essentially wrong. It should not be undertaken at all. There is no appropriate resolution.

All in all, dual agency itself seems to be more of a fact of life. The proper questions should be directed to the manner in which it is handled once it arises rather than outlawing it completely or permitting it without recourse.

Brian Madigan LL.B., Realtor is an author and commentator on real estate matters, Coldwell Banker Innovators Realty
905-796-8888
www.OntarioRealEstateSource.com

Sales are Down but prices refuse to budge

Thu, 04 Dec 2008 14:28:46 -0600

Over 3,600 Sales In November

December 4, 2008 -- TREB Members recorded 3,640 sales in November 2008 from the 7,313 sales recorded during the same period last year in the GTA, TREB President Maureen O'Neill announced today.

The average GTA price in November 2008 was $368,582. During the same period last year, the TorontoMLS system recorded an average of $393,747, and in November of 2006 overall GTA prices averaged $355,727.

The 2008 year-to-date sales for the GTA was recorded at 72,086 from last year's 88,695. The year-to-date GTA average price was $379,489 from last year's $375,445

Within the 416 area (City of Toronto) there were 1,523 sales during November 2008. During the same month last year, 3,426 sales were recorded. The average price in the 416 area was $390,225 compared to $433,859 in November 2007 and $381,188 in 2006.

In the City of Toronto, 28,806 sales have been recorded year-to-date for 2008 from last year's 36,804 during the same time period. The year-to-date 2008 average price in the 416 area is $411,155 from last year's $411,640.

The 905 Region recorded 2,117 sales last month, compared to the 3,887 sales transacted during November of 2007. The average price in the 905 Region was $353,012 last month from $358,391 in November of 2007 and $335,522 in November 2006.

Year-to-date sales in the 905 Region for 2008 were 43,280 from the 51,891 recorded during the same period in 2007. The year-to-date average price in the 905 Region for 2008 was $359,245 from $349,774 in 2007.

Breaking down the total, 1,453 sales were reported in TREB's 28 West districts and averaged $350,199; 629 sales were reported in the 14 Central districts and averaged $473,346; 651 sales were reported in the 23 North districts and averaged $410,253; and 907 sales were reported in TREB's 21 East districts and averaged $295,470.

Median Price

The Median Price for November 2008 was $312,250, compared to $325,000 in November of 2007 and $298,000 in 2006. The YTD Median for the first 11 months of 2008 was $325,000, compared to $318,000 during the same time-frame in 2007, and $300,000 in 2006.

Download Complete Report Immediately

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Consult a professional REALTOR to help you sell your home. Experience is not expensive, Its Priceless.