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Mississauga not worried about Brampton debate derailing LRT
Mississauga councillors are keeping an eye on the heated debate taking place in Brampton over light rail transit but aren't worried it will delay the plans here. A meeting in Brampton about the 23-kilometre LRT planned to run from Port Credit to the Brampton GO station drew dozens and dozens of residents who wanted to have their voices heard. The proposed route through Brampton’s downtown core has split support in that city, with both councillors and residents lining up either for or against the plan.
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Real Estate: Study suggests first-timers fuelling market
Post City Toronto
According to a new survey by the Canadian Association of Accredited Mortgage Professionals (CAAMP), it seems that those responsible for keeping the housing market alive right now are actually the first-time homebuyers. Even with the housing market prices currently at an all-time high, those purchasing a home for the first time are making up 45 per cent of the 620,000 homes sold over the past two-plus years in Canada.
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Toronto's residential land prices reach new highs: 'More condominiums coming'
Financial Post
Residential land prices reached new highs in Toronto in the second the quarter of 2015 as developers bet the housing boom will continue in Canada's largest city, according to a new survey. "Not only were there some big transactions but we also had a record number of deals," said Richard Vilner, commercial real estate manager of RealNet Canada Inc. "There are a lot more condominiums coming, if you thought there was a slowdown there."
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Power of sale and foreclosure: What are the risks?
CTV News
Each process is a forced sale of real property, with Power of Sale being common in Ontario, Newfoundland, New Brunswick and PEI. The POS process is much faster, so its main advantage is the procedure does not get tied up in court. The homeowner retains title to the property, and also receives any surplus after the debts and costs are paid from proceeds. (However in some cases, dependent upon negotiations, if the proceeds from the sale are insufficient to cover the debt including expenses the creditor MAY be able to sue for the remaining outstanding balance.)
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Mississauga educator receives Ontario principal award
Loyola Catholic Secondary School vice-principal Michelina Battaglini was named 2015 recipient of the Catholic Principals' Council of Ontario (CPCO) Principal of the Year Award. The award recognizes an Ontario principal or vice-principal for exceptional school and community leadership. "We are extremely proud of Michelina and all that she has accomplished as a leader, role model and colleague," said Dufferin-Peel Catholic District School Board Education director John Kostoff in a news release.
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Why Markham is the next highrise community
Toronto Star
The City of Markham is the largest of York Region's nine municipalities. Markham has more than 342,000 residents and close to 10,000 businesses — and it's continuing to grow. And with a new official plan, the city has a guide for how it will grow over the next 20 years. According to York Region, the local municipality is forecast to have more than 421,000 people and 240,000 jobs by 2031.
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Home buyers and builders face different risks with same market issues
Toronto Star
Interest rates have an impact on the GTA housing market in more ways than many people may realize. In a normal environment, when all other factors remain static, a drop in interest rates usually results in a rise in home prices. The concern with record-low interest rates and record-high home prices — such as they are today — is that we're setting ourselves up for a painful correction in the market when interest rates reverse and move higher.
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How to get a mortgage (when you're not the ideal borrower)
If you're a credit-worthy employee at a Fortune 500 company and don't have much debt, the mortgage world is your oyster. Banks knock on your door looking to give you the best rates, most advantageous terms and any other perks they can use to get your business. You're an A-lister. A borrower with impeccable credentials. But what if you don't quite fit that mould? It doesn't mean you're out of luck, it just means you have to learn how to work the system in your favour.
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    Why realtor commissions don't need to change (MoneySense)
First-time buyer rebate applies to only one property (Metro News)
6 important rules that will preserve the value of condos (Huffington Post)

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Real Estate Update
Frank Humada, Director of Publishing, 289.695.5422
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