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Call for BREB Volunteers!
BREB
BREB has several Committees, Councils and Task Forces looking for motivated Members with new ideas and a commitment to ensure the strength and positive direction within the Board. Don't miss the opportunity to get involved and make a difference by serving on one of the many BREB Committees, Councils and Task Forces. All volunteer applications must be received at the Board Office no later than April 15, 2014.
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Tax essentials for real estate professionals
BREB
Thursday April 9, 2014
10 a.m. - 11:30 a.m.


AGENDA (First hour):
i. Taxation of residential properties and the principal residence exemption;
ii. What expenses are tax deductible to a real estate professional;
iii. Private health service plans — a tax savings strategy for the self-employed individuals;
iv. GST/HST;
v. Employment Insurance and Family Planning;
vi. How to stay organized and maintain your records

*** Free snacks will be provided***

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Foundation crack concerns
BREB via Marcos Ramos
As a qualified home inspector, I can tell you that cracks in foundation walls are not an unusual sight. In fact, most homeowners have discovered minor cracks in their basement walls or in stone or brick work, whether they own a home that was built recently or one that has been standing for many years. But sometimes even small, seemingly insignificant cracks can be the sign of a major problem.
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Real estate bidding wars: It's every man for himself
Financial Post
Home buyers of all ages are finding themselves facing multiple offer situations across the country and not just in the hot markets of Toronto and Vancouver. "It's becoming more of a reality," says Belinda Lelli, a Toronto realtor with Royal LePage. "There's just nothing out there. There is zero supply and 100 per cent demand."
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CREA's Strategic Direction
CREA
In mid-January the CREA Board of Directors conducted a strategic planning session, which included a dozen additional participants from Boards and Associations across Canada. Purpose of the session was to provide direction for the next three to five years regarding CREA's plans and priorities. In the attached report, which summarizes the outcomes of our planning session, you will see some draft language that attempts to capture the spirit of shared purpose and vision.
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Grab the bucket 'n' bin before the buyers come in — that's how you get a better offer
National Post
The spring housing market, despite the best efforts of weather gods, is budding. And a new crop of sellers is preparing for a crowd of eager buyers. Benignly neglected imperfections — a wayward cable cord, the wine stain that never fully came out of the carpet, holes in the wall where the kid gate used to be — shout out accusingly: you should have fixed me a long time ago!
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More self-employed hitting mortgage wall because of recent rule changes
The Globe and Mail
For years, most of Marg Green's self-employed clients could count on getting a mortgage on the strength of their credit score, and on their word that they were earning enough from their business to repay the loan. These days, because of rules brought in almost two years ago by the regulator of the country's chartered banks, borrowing money to buy a home has become harder for many of the country's 2.75 million self-employed workers — a group that, according to Statistics Canada, has a higher median net worth than paid employees.
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Land transfer tax should be an election issue
Toronto Star
Late last year, an Ipsos Reid poll conducted for TREB showed that 69 per cent of Torontonians supported a phase-out of the land transfer tax. The sad fact is, Toronto needs the money generated by the land transfer tax because its property taxes are too low compared to surrounding municipalities.
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Canadian home sales little changed in February
CREA
According to statistics recently released by The Canadian Real Estate Association (CREA), national home sales activity was little changed in February 2014 on a month-over-month basis. The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations was little changed from January to February 2014, edging up just three tenths of one per cent.
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BlackBerry reaches deal to sell most of its Canadian real estate
Financial Post
BlackBerry reached an agreement to sell most of its real-estate holdings in Canada, to help the struggling smartphone maker shore up cash for its turnaround plan. BlackBerry will sell more than three million square feet of space, plus vacant property, and lease back some of it in a transaction expected to close by the end of May, according to a recent statement.
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FEATURED ARTICLE
TRENDING ARTICLE
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Where the heart is: What it means to buy a home
The Globe and Mail
The house at the end of my block had just gone on the market. I went to check it out almost as soon as the open house began, and yet 20 people were already through the door ahead of me, whispering and pointing and climbing to the renovated loft in their stocking feet. This story is about my street, but it could be everyone's street, especially if you live where house prices are climbing out of sight of the naked eye.

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Living in retirement: 6 things to consider before downsizing
The Globe and Mail
Real estate pundits and condo developers are among those who present downsizing as a sensible financial next step for empty nesters. And for some people, downsizing makes good sense. So I sold my house and downsized to a condo. Most recently, I’ve admitted to myself that I made a mistake. In my case, staying put would have been a wiser decision.

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CREA Monthly Stats and MLS® Home Price Index: February 2014
CREA
According to statistics released recently by The Canadian Real Estate Association (CREA), national home sales activity was little changed in February 2014 on a month-over-month basis. The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations was little changed from January to February 2014, edging up just three tenths of one per cent.

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Report: Housing market may undergo modest corrections, not a crash
CTV News
The Conference Board isn't buying the notion that Canada's housing market will suddenly crumble, saying the most likely outlook is for a modest decline nationally and in some specific markets. The Ottawa-based think-tank argues in a comprehensive new look at real estate in Canada that the conditions for a crash simply don't exist, despite numerous reports that the market is overbuilt and overvalued.
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Real estate's next worry: Commercial property
GlobeAdvisor.com
First, it was Canada's housing sector. Now, it's the country's commercial real estate market. Pundits around the world are still immersed in a vigorous debate about just how overheated the residential real estate market here is, and whether it's destined for a crash. Now some are also training their sights on Canada's commercial real estate market — the wide array of office towers, shopping malls, and factories that have become hot commodities in recent years.
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Real Estate Outlook

Frank Humada, MultiView, Director of Publishing, 289.695.5422
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Oliver Kirby, MultiView, Content Editor, 289.695.5401   
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