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MREB's Mayoral debate
Mississauga News
There was one question top of mind for many in the audience at City Hall during a mayoral debate organized by the Mississauga Real Estate Board: Where did the four participating candidates stand on the idea of a municipal land transfer tax. And, from the sounds of it, none of the four who took part – Steve Mahoney, Bonnie Crombie, Masood Khan or Dil Muhammad – have much appetite to press for one.
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The Business Education Centre offers professional development seminars and Hands On at the Board.
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Agents on the hook for illegal in-law suites
Toronto Star
The Real Estate Council of Ontario (RECO), the body that licenses and governs real estate agents, is cracking down on representatives who advertise two-unit homes without making clear whether the second unit — usually a basement apartment — is legal. Many agents typically use wording such as, “Agents and seller do not warrant legal retrofit status of in-law suite.” Descriptions like this could disappear in the wake of two recent decisions of RECO discipline panels.
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Lion's Lair trio banking on app aimed at owner-driven real estate sales
Hamilton Spectator
Yousif Hassan, Neil Botelho and Omar Atta have an ambitious goal: to change the way people sell their homes. The trio wants to disrupt the industry and hand the power over to homeowners through their new mobile app, Tangobits. The app specifically targets the for-sale-by-owner segment of the real estate market. The team feels their venture will provide potential sellers with the tools and resources they need to sell their home, stress-free, using the convenience of a mobile app.
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GTA building permits plummet 43.5 per cent in August
Toronto Star
The GTA’s building industry took a sizable breather in August as the total value of building permits issued dropped more than 43 per cent from July to $929 million, according to monthly figures released Tuesday by Statistics Canada. The downturn may not be quite as dramatic as it first appears, given that the city has seen a surge in building permits issued in the last few months, especially in July when $1.6 billion in permits was approved, mainly for highrise condos.
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Chateau on Toronto's Bridle Path listed for sale at $25 million
CTV News
A French-style mansion that has hosted celebrities and politicians is listed for sale at $25 million in an affluent area of Toronto. The gated four-acre property and 28,000 sq. ft. home at 68 The Bridle Path was built by financier and real estate developer Robert Campeau in the early 1980s. The Bridle Path is an upscale neighbourhood often referred to as "Millionaires' Row."
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GTA building permits plummet 43.5 per cent in August
Toronto Star
The GTA’s building industry took a sizable breather in August as the total value of building permits issued dropped more than 43 per cent from July to $929 million, according to monthly figures released Tuesday by Statistics Canada. The downturn may not be quite as dramatic as it first appears, given that the city has seen a surge in building permits issued in the last few months, especially in July when $1.6 billion in permits was approved, mainly for highrise condos.

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OHBA panel: Rising interest rates will slow Ontario housing industry growth
Ottawa Citizen
There’s good news and not-so-good news for the Ontario home building industry, according to two economists who spoke at the Ontario Home Builders’ Association conference in Ottawa earlier this week. The slow improvement in the Canadian economy — from 1.7 per cent in 2012 to a projected 2.4 per cent this year and 2.7 per cent in 2015 — augurs well for the housing industry, said panelist Robert Hogue, senior economist at RBC.

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FSCO warns about unlicensed syndicated mortgages
Mortgage Broker News
FSCO has issued a warning to Canadians about unlicensed syndicated mortgages. Syndicated mortgages are becoming increasingly popular among mortgage brokers; many of whom have added the lucrative products to expand their business offerings.

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Home sales still on the rise in GTA
Daily Commercial News
There were 8,051 transactions that went through the Toronto MLS system in September, according to the latest housing report by the Toronto Real Estate Board (TREB). The figure represents a 10.9 per cent jump in comparison to the same time last year. Through the first three quarters, sales are up 6.9 per cent year-over-year to 73,465 units.
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Boosters of a back-alley home seek Toronto buyer
The Globe and Mail
Not so long ago, a three-storey house tucked into a back lane south of Dundas Street West would have appealed to only the most forward-thinking. "Everybody was scared of them," says real estate agent Jose Nieves of the earliest houses that began to appear in the gaps in back alleys. The surrounding Parkdale neighbourhood was a good place to buy crack cocaine when he bought his own loft in a converted industrial building on Federal Street.
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Getting squeezed by high house prices? Head for the suburbs
The Globe and Mail
Dan Wesley and his wife bought a two-storey, three-bedroom house in the Calgary suburbs two years ago. They paid more than $450,000 for their 2,000-square-foot new home. A comparably sized house closer to the city’s core would have cost $750,000 at the time, raising their monthly mortgage payments to $2,700 from $1,650.
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This is why people are getting frustrated with real estate agents
The Huffington Post
When it comes to cutting land transfer taxes that tack on thousands to the cost of a home, Canada’s realtors are happy to talk. But when it comes to realtors’ fees, which have been soaring in recent years in tandem with house prices, the realtor lobby will accept no questions. And they will tell you you're not even allowed to ask about it.
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Toronto retail sector undergoes major facelift
Toronto Star
The new Holt Renfrew Men store on Bloor Street West is a retail jewel. The front window showcases a red Ferrari 458 Italia and yes it’s for sale, to the first person with $335,000 to spare. The flooring on the ground level is made of Canadian limestone, hand cut in Toronto and laid down in a mosaic pattern. A bronze sculpture by Canadian artist Dennis Lin overlooks the shoe department.
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Nobody blows bubbles like these real estate writers
Financial Post
Booming real estate markets are producing another kind of bubble: An expansion of authors writing about a looming crash. A forthcoming book by Hilliard MacBeth, an Edmonton-based portfolio manager, doubles-down on the so-far-errant projections of similar books. When the Bubble Bursts: Surviving the Canadian Real Estate Crash predicts Canadian house prices will drop 50 per cent.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    GTA homebuyers choose convenience over size (CBC News)
Toronto's real estate market is now leading in something else (Financial Post)
Mississauga home sat for months until staging brought buyers calling (The Globe and Mail)

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Real Estate Update
Frank Humada, Director of Publishing, 289.695.5422
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