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Abuse survivor Asha Singh receives community service award
There's a reason Asha Singh gives her free time to support organizations like Interim Place. She is an abuse survivor herself. Twenty-six years ago, just months into her career as a realtor, Singh found herself living in the Peel women's shelter with her two daughters. "The irony was, I was selling homes to people, but I was staying in a shelter with my daughters, and nobody knew that," said Singh, who now works for Royal LePage.
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Mississauga Civic Awards honours best citizens, personnel
Mississauga's firefighters are the best in Canada, Mayor Hazel McCallion told the audience at the 34th annual Mississauga Civic Awards Reception, held last night at the Civic Centre. The evening honoured several members of the city's fire and emergency departments. "We have a wonderful fire department... they are the best in Canada and I'm proud of them," said McCallion.
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Why it's easier to become a real estate agent than a hairstylist
Move Smartly
Ever since Garry Marr published his article in the Financial Post titled "Canada's next housing bubble: real estate agents" there has been quite a bit of discussion both online and on the radio about the boom in the number of real estate agents. The GTA has nearly 40,000 real estate agents, twice as many as 10 years ago and 1 agent for every 140 people. So what's driving this boom?
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6 things to know about real estate deposits
Toronto Star
In Ontario, the standard real estate contract gives the buyer two choices; you can pay the deposit immediately when you make an offer, or you can agree to pay it within twenty four hours after the seller accepts it. Most buyers prefer the second option. If you are in a bidding war, you will be encouraged to come up with the deposit immediately, to show good faith to the seller.
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Hike in development charges likely in Mississauga
If you;re planning to buy a newly built house in Mississauga you'd better hurry, because the price is likely to rise by almost $10,000. Facing a crippling financial crunch, the city is proposing a 54 per cent increase to development charges for houses and a 75 per cent increase to charges for units in multiple dwellings. That means new house buyers will be covering an average of $26,110 in charges instead of the current $16,931. The builder pays the charge, but typically passes the cost on to buyers.
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Greater Toronto REALTORS report mid-month resale housing market figures
Daily Commercial News
Toronto Real Estate Board President Dianne Usher announced that "Sales reported by Greater Toronto REALTORS were up strongly in comparison to the same time last year. However, new listings were down slightly over the same period, which means competition between buyers continued to increase and price growth remained very strong."
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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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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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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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Property managers reap benefits of Toronto's condo boom
The Globe and Mail
Property managers find tenants for landlords, and then generally handle things like maintenance issues and collecting rent. A rising number of them are popping up in Toronto, attracted by the plethora of units that are being rented out. Mathew Rutherford is the owner of Performance Property Management, a Toronto-area firm that he started about five years ago. He spotted a need when he tried to rent out his own property while he travelled to Australia.
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Rising real estate prices and low interest rates keep Canadian households upbeat
Financial Post
The share of Canadians who are predicting higher home prices in their neighborhood remained above 40 per cent in the latest weekly polling by Bloomberg and Nanos Research. That's kept consumer confidence levels at near the highest in four years, the data show. Improving views on housing follow a recent acceleration in the real estate market in recent months that reflects a shift by policy makers at the Bank of Canada to dim expectations for rate increases as it plays down concerns over rising household debt to focus on stimulating the economy.
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In Toronto, sometimes meeting the asking price just isn't enough
The Globe and Mail
Bidding wars that lead to offers six figures over asking have become routine in Toronto's spring market. But even in a contest reduced to a single buyer and seller, the results are unpredictable, as agent Ira Jelinek and his clients found out recently. They had already lost out on several houses this spring when a semi-detached came up for sale in Leslieville.
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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)

Don't be left behind. Click here to see what else you missed.

The bank said no: Now what? Tighter mortgage rules have sent buyers looking elsewhere
National Post
Investors Group threw coals on the housing fire by cutting its three-year variable mortgage rate to a market-share-boosting 1.99 per cent. Federal Finance Minister Joe Oliver is watching. As competitive pressures among lenders push rates down to nearly unheard-of levels, the government keeps trying to cool things off. It is a delicate public/private balancing act.
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Real Estate Update
Frank Humada, Director of Publishing, 289.695.5422
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