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MREB Spring Annual General Meeting and Trade Show
MREB
The Mississauga Real Estate Board enjoyed a successful Spring Annual General Meeting and Trade Show, receiving kudos for a new venue, good food and a not-so-typical AGM meeting format...

If you were not at the AGM, here is what you missed!
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Ontario program helps commercial property owners
REM Online
Things are looking good for Canada's commercial real estate market. CBRE Canada is calling for a "steady and stable" 2014 while PricewaterhouseCoopers (PwC) assigned an average overall rating of "modestly good" to Canada's nine largest commercial real estate markets. Forecasts vary depending on the asset class — office, retail, industrial, investment and multi-housing — and market, but as a whole Canada remains "on the radar for new capital investment."
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Report: Shortage of home listings in GTA boosts prices more than 10 per cent
CTV News
A shortage of homes for sale across the Greater Toronto Area helped push up prices by an average of more than 10 per cent in April, a new housing report shows. According to figures released by the Toronto Real Estate Board (TREB), the average selling price of a home in April hit $577,898 — up 10.1 per cent compared to the same period last year.
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BMO: Too many condos? Canada's housing growth 'sustainable'
The Globe and Mail
When it comes to the question of whether we're building too many homes in Canada, economists at Bank of Montreal are suggesting everyone should just relax, even in Toronto where condos are popping up like dandelions. They released two slides recently to make the point. One shows the number of homes on which construction has begun across the country in recent years.
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Click on the dotted line: Real estate agents test cyber boundaries
The Globe and Mail
Realtors in Ontario are hoping that people will soon be able to buy a house without putting pen to paper. Electronic signatures, or e-signatures, are now accepted for a wide variety of purposes in Canada and are legally enforceable. But buying a home is an exception in some provinces and territories, including Ontario, where the legal framework says you still need a so-called "wet" signature. You cannot legally seal the deal online or by e-mail.
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Average price of single home in Toronto shoots up 13 per cent to $965,000
Toronto Star
It's a record likely to be shattered by summer: The average sale price of a detached home in the City of Toronto hit $965,670 in April. That number is expected to exceed $1 million over the coming weeks as the GTA continues to feel the effects of a shortage of new listings that helped drive up the average price of detached homes in the 416 region by 13.2 per cent from April of 2013.
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Average price for a single-family home in Toronto passes $1 million
Huffington Post
Economists are coming out with warnings that Canada's real estate juggernaut is about to come to an end and others keep fretting about Canada's record-high household debt levels, but Toronto residents don't seem to be listening. Home sales in the country's largest metro area roared back to life in the first quarter of 2014, according to data from Realnet Canada, with total sales jumping 60 per cent from the same period a year earlier.

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New home buyers warned to beware of unregistered builders
Metro News
Cheaper can become a costly nightmare. That can easily be the case if you buy a beautiful newly-built home that turns out to be an "illegal building" put up by unregistered builder, says Howard Bogach, president of Tarion Warranty Corporation. Tarion Warranty was established in 1976 to serve as the regulator for the new home building industry in Ontario.

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Real estate bidding wars heating up in Toronto
CBC News
Toronto's real estate bidding wars are reaching a fever pitch. Some of Canada's largest banks are offering low mortgage lending rates, and many people looking to move from condos and rentals into family homes in the city are capitalizing on fixed agreements. "It's a sellers market out there ... and right now is the busy season. There are a lot of Toronto buyers out there looking for their first home, looking to take advantage of the rates," says James Laird, chief operating officer of True North Mortgage.

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Parking battle marrs new downtown condo development in Hamilton
CBC News
It's already a parking battle around a new condo tower in Durand. Now with another tower on the way and a third 11-storey tower planned, nearby residents worry it's going to get even worse. Some residents of 90 Charlton Ave. W., the first tower in the $70 million, three-building City Square condo development, are already paying three figures to park on nearby lawns, and squeezing illegally onto side streets, some say.
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Development charges get cool reception in Sudbury
The Sudbury Star
Increasing residential development fees will — and has — driven builders and residents out of Sudbury, city councillors heard. In an hour-and-a-half public consultation at Tom Davies Square, 15 people shared their concerns and thoughts about the possible increases.
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Missed last week's issue? See which articles your colleagues read most.

    Mississauga mansion goes on auction block — again (Toronto Star)
A real estate agent is not what you think (Toronto Star)
How badly would you be hurt in a housing market price correction? (The Globe and Mail)

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Apartment projects boost Waterloo Region housing starts
The Record
Housing starts surged in Waterloo Region as work began on several large apartment projects. Builders started work on 850 housing units in the Kitchener-Cambridge-Waterloo census metropolitan area, the Canada Mortgage and Housing Corp. said. That's up from 117 in April 2013. Apartment projects, both rental and condos, accounted for 759 units — 388 in Kitchener and 371 in Waterloo. Only 44 apartment units were started in April a year ago.
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House sales in Waterloo Region slip in April
Cambridge Times
House sales in Waterloo Region continue to lag behind last year's levels. The real estate associations in Kitchener and Waterloo, and Cambridge reported lower sales recently compared to April 2013. The Kitchener-Waterloo Association of Realtors recorded 652 sales, down 5.6 per cent from the 691 that changed hands in April a year ago.
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Real Estate Update
Frank Humada, Director of Publishing, 289.695.5422
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