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Mississauga real estate agent wins $20 million lottery prize
The Brampton Guardian
Mississauga’s Velauthan Vamadevan is $20 million richer after following a whim. The father of three, who has been playing the lottery for 20 years, won the $20 million jackpot from the Oct. 18 Lotto 6/49 draw. “I never expected it, I never thought I would win,” said the 62-year-old real estate agent.
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Glenarm solar farm raises concern for neighbours
Kawartha Lakes This Week
When Steve and Donna Charles were looking to leave Newmarket seven years ago, they compiled a mental list of features they wanted with their new home. Affordability, of course, was high on the list. They envisioned a quiet surrounding in a rural area. They had wide-open spaces in their sights. And they thought they found it in the City of Kawartha Lakes.
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Buy and sell real estate in hot market with confidence
Vaughan Citizen
Maria Guadagnolo, sales representative for RE/MAX Premier Inc., Brokerage, in Vaughan, ON, is an award-winning real estate professional that can help buyers and sellers through her market knowledge and personal service. Maria believes in putting her clients first, whether they're first-time buyers or looking for their dream home. She has helped many clients realize their real estate goals with confidence.
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BMO fall home buying report: 2 percentage point rise in interest rates would strain affordability for majority of home-buyers
MarketWatch
he majority of Canadians currently in the market for a home would be forced to change their buying plans in the event of a two percentage point rise in interest rates, according to survey results in a BMO Home Buying Report released today. The survey, conducted by Pollara, examined how potential home buyers would cope if interest rates increased, and revealed quite a bit.
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Split emerges in housing market as Ontario, Alberta, B.C. heat up
The Globe and Mail
Canada’s housing market is shifting into two distinct camps – one that is headed for a so-called soft landing, and another that remains heated. The Bank of Canada said the country’s housing market continues to pick up momentum at an unexpected pace. Sales of existing homes have hit a four-year high, according to the central bank’s monetary policy report for October, pushing house prices higher.
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Mississauga real estate agent wins $20 million lottery prize
The Brampton Guardian
Mississauga’s Velauthan Vamadevan is $20 million richer after following a whim. The father of three, who has been playing the lottery for 20 years, won the $20 million jackpot from the Oct. 18 Lotto 6/49 draw. “I never expected it, I never thought I would win,” said the 62-year-old real estate agent.

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Chateau on Toronto's Bridle Path listed for sale at $25 million
CTV News
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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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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Why are condos still being built in Toronto, Calgary and Vancouver?
MoneySense
Over Thanksgiving weekend, I had a conversation with a good friend who was stunned at how many condominium projects are still being approved and built in Toronto, despite impending interest rate hikes (and subsequent fears of a housing market crash). At one point she couldn’t help but ask: “Why would developers risk building under such uncertain conditions?” Fact is, my friend could’ve asked the same question for just about any major Canadian city.
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Alota Home Inspection Services
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Sam Fidale, RHI
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(416) 801-4876
sam@fidelityinspections.ca
www.fidelityinspections.ca
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Toronto real estate: In the depths of a twitchy market
Globe and Mail
Toronto’s real estate market has remained twitchy through October as buyers seem willing to wrestle for some properties but not others. A semi-detached house in High Park north of Bloor sold recently for $129,100 above the asking price of $799,900. “I think that’s a boat full of money for a semi,” says real estate agent Pro Sarbadhikari of Sutton Group Realty Systems, who sold the house at 165 Pacific Ave. for $929,000. Still, Mr. Sarbadhikari had expected the property to attract more than the two bids it received.
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The hidden costs of buying a home
Toronto Sun
I recently went to New York City and while I spent many hours wandering around the famous streets, eating delicious meals and seeing an endless parade of interesting people; I also shopped. Can you blame me? It was at the cash register on the fourth floor of Barney’s in Manhattan that the inspiration for this article came to me. I passed my new pair of sought-after ruby red heels to the sales clerk, dug out my wallet then was shocked when she read the total for my purchase; it was the same amount on the price tag and not one penny more (they actually still have pennies in America).
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Toronto's affordable housing shortage sparks growth of illegal suburban rooming houses
The Globe and Mail
A man steps off his porch and walks down the driveway. “You going to shut that place down?” he asks, gesturing across the street. Regini David doesn’t answer. She knows which property he is referring to: an illegal rooming house, one of a number in this quiet neighbourhood in central Scarborough. As a legal aid worker and housing advocate, Ms. David has visited dozens of rooming houses across the city. This is one of the nicer ones: With a well-maintained front yard, it doesn’t look out of place on this tidy residential street.
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Developers shifting sights to two-bedroom condos
Toronto Star
Developers appear to finally be getting the message that not everyone wants to live in a tiny shoebox in the sky. The number of shrinking, one-bedroom condos coming on the market has declined dramatically just over the last few months, in favour of more two-bedroom units averaging more than 800 square feet and better suited to first-time buyers and young families, says new-home research firm RealNet Canada.
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Here are 3 better ways to invest in Canadian real estate
The Motley Fool
They say if the best time to plant a tree was 20 years ago, then the second best time would be now. That axiom sure doesn’t apply to Canadian real estate. Twenty years ago, investors could make a decent return buying single units. Mortgage rates were higher, but a buyer could count on enough cash flow from a property to pay the mortgage, all the other expenses, and still have some left over at the end of the month. Now? The majority of property in Canada’s largest markets won’t make an investor enough to even cover expenses.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Lion's Lair trio banking on app aimed at owner-driven real estate sales (Hamilton Spectator)
MREB's Mayoral debate (Mississauga News)
This is why people are getting frustrated with real estate agents (The Huffington Post)
GTA building permits plummet 43.5 per cent in August (Toronto Star)

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Real Estate Update
Frank Humada, Director of Publishing, 289.695.5422
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