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Mississauga Real Estate Board (MREB) elects 2015 Board of Directors
MREB
Thanks to a great interest in the Mississauga Real Estate Board, 10 Candidates presented their credentials to the Membership at the Board's Annual Election Meeting/Home & Trade Show held at the Mississauga Grand Banquet & Convention Centre, 35 Brunel Road, Mississauga on Wednesday, November 19, 2014.
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Ontario looking at e-signatures for real estate deals
Mississauga.com
Just sign on the dotted line — via email or text. The Ontario government is looking at allowing electronic signatures for real estate transactions. "It's often the most important transaction that people are doing — (but) a lot of times they're busy at work or they don't live in the same city," Attorney General Madeleine Meilleur said recently at Queen's Park. "So we want them to be able to sign a mortgage or a deed or the sale of a house or the buying of a house and make it easier for them," Meilleur said.
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Mississauga opens 4 Transitway stations
CBC News
Mississauga recently opened the first four stations of its Transitway project to the public. Commuters can now use Central Park, Cawthra, Tomken and Dixie stations as part of the city's ongoing Transitway project. Mississauga is responsible for the project's first phase, which includes the four new stations. Four additional stations are currently under construction, and work on a fifth station is set to begin soon. Mississauga plans to open those stations in 2016.
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Mississauga will receive more than $15 million in gas tax funding
Mississauga.com
The City will be getting more than $15 million to put towards public transit as the municipality's share of the provincial gas tax. Queen's Park will be sending $321.5 million of gas tax money to 96 Ontario municipalities to help expand and improve public transit, Ministry of Transportation Steven Del Duca announced. "Year over year, this program helps improve and expand our public transit systems," said the minister. "This is further proof of our government's commitment to making the daily commute and quality of life better for Ontario families."
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Ajax, Pickering real estate agencies merge
Durham Region
A couple of real estate agencies have joined forces. Royal LePage announced recently that Coldwell Banker Case Realty joined forces with Royal LePage Connect Realty, effective immediately. The agency will operate under as Royal LePage Connect Realty, and it brings together 376 agents in six locations in the Greater Toronto Area, from Pickering and Ajax spanning to Toronto's west end. "We are thrilled that the renowned Case Realty team has chosen Royal LePage as their new home, from which to build on their 62-year legacy of success in the highly competitive GTA market," Phil Soper, president and CEO, Royal LePage, said in a press release.
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In Toronto, even a house with a blemish is a hot seller these days
The Globe and Mail
A house divided into apartments on a busy street used to be the kind of property that took time to sell in Toronto. In the current fall market, it's the kind of property that attracts two bully bids and 11 offers overall. The house at 1690 Gerrard St. E. attracted a particularly aggressive bully who made an offer soon after the three-unit dwelling landed on the market, says real estate agent Lance Van der Kolk of ReMax Hallmark Realty Ltd., who represented the seller.
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Experts cautiously optimistic for housing sector in 2015
Toronto Star
Douglas Porter wanted to gauge the mood among the 300 people gathered to hear his economic forecast for 2015. So BMO Financial Group's chief economist took a straw poll at the BILD (Building Industry and Land Development Association) 2015 Outlook Breakfast in Vaughan, asking how many in the room considered themselves optimists, how many were cautious and how many were pessimists when it comes to the Canadian economy. He said his audience was very Canadian as he estimated 80 per cent lifted their hand as cautious.
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New-home buyers need better protection: Tarion, Law Society, Government failing in consumer protection role
Move Smartly
The 150 purchasers in the failed Centrium condominium project might not have lost their combined deposits of $14.9 million had the Law Society of Upper Canada and the Tarion Warranty Corporation been more aggressive in carrying out their mandates to protect the public. The case became front page news in late August when Toronto lawyer Meerai Cho was arrested.

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Toronto housing exodus good news for Hamilton
Hamilton Spectator
The Hamilton area will see a recovery in housing starts in 2015, along with strong re-sales of homes and more jobs, according to a report from the Canadian Mortgage and Housing Corporation. Although single-family home construction declined in the region between 2011 and 2013, creating a lower inventory, CMHC says starts in the category will climb in 2014 and 2015.

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What Hudson's Bay may have in store for its real estate
Financial Post
Hudson's Bay Co. is preparing to share its plan to crystallize the value of its real estate assets by the end of Q1 2015, so analysts at RBC Capital Markets took a closer look at what that value might be. The retailer's chief executive, Richard Baker, has highlighted two primary criteria in the process: a clear demonstration of the substantial value of the underlying properties, and to leave the company with a strong balance sheet in order to maximize its flexibility going forward.

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Appraisals warned of weak market for MaRS tower
Toronto Star
Appraisals from two companies within the last year point to a "softening" real estate market and likely troubles in getting renters or selling the controversial building across from Queen's Park. The details are in 700 pages of documents released Thursday in response to a demand from opposition parties for the government to reveal its "business case" for the controversial deal, which first came to light during last spring's provincial election campaign.
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Roseman: Let's see if you know Ontario real estate law
Toronto Star
You are selling your house. Your real estate agent already has an interested buyer, but there's a catch. The salesperson represents the buyer as well as the seller. Is that allowed? About one in five people believe — incorrectly — that real estate professionals can act only for one party in a deal. Fewer than half know the facts: Ontario real estate agents can represent both sides in a deal if the parties agree to it in writing.
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Hamilton housing market hot
CHCH
Hamilton's house prices are up more than 7 per cent over the past year, and bidding wars abound, even in the central core. One example is a three bedroom, one bathroom home that sold for more than 300-thousand dollars, setting a new benchmark in the neighbourhood. When Jesse and Hanna Glen put their home on the market for just under 290 thousand dollars, they had no clue their detached home would receive so many offers.
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Missed last week's issue? See which articles your colleagues read most.

    Gone downtown: 2015 real estate trend (Mississauga.com)
Toronto condo market sees one of its best years (Toronto Star)
Brokers call for specific regulation (Mortgage Broker News)

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Real Estate Update
Frank Humada, Director of Publishing, 289.695.5422
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