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The OREA 2015 Forms & Clauses are now live
MREB
The OREA 2015 Forms & Clauses are live on www.orea.com.

After signing into the Members Only Standard Forms Page, you can download the zip folder of all 2015 Standard Forms & Clauses. Please inform your members at your earliest convenience.

Software Providers should also be releasing their 2015 OREA Standard Forms "live" to members by the end of this week.

Current year Revisions are important, however, revisions from prior years can be equally important to maintain knowledge.

Free 3 CE Credits for MREB Members. Pre-registration required.
Click details below for registration form.

Date: Wednesday, December 17, 2014
Time: 10:00 a.m.
Venue: Mississauga Real Estate Board, 3450 Ridgeway Drive, Unit # 1, Mississauga
Presenter: Cassandra A. Walker
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New Mississauga Mayor Bonnie Crombie provides glimpse into city's future in inaugural address
Inside Halton
Newly elected mayor Bonnie Crombie was officially sworn-in as the City's first new mayor in 36 years, receiving the chain of office in front of a packed house during Council's Inaugural Meeting at the Living Arts Centre last night. Crombie took over mayoral duties from departing mayor Hazel McCallion, but made her inaugural address and took the oath of office at the ceremony along with with members of her new council.
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Councillor says subway, not LRT, the transit Mississauga needs
Mississauga.com
One Mississauga councillor says it's time to put the light rail transit project planned for the city on the backburner and focus on a subway. Ward 5 Councillor Carolyn Parrish, speaking at the first working meeting of the new term of council this morning, said she heard from plenty of residents during the recent municipal election campaign who weren't enamoured by the $1.7 billion LRT project planned to run from Port Credit to Brampton.
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Home prices in GTA surging, as yearly sales approach record
Toronto Star
The average sale price of a home in the GTA climbed 7.4 per cent in November from a year earlier to $577,936 — up 8.4 per cent just since January, according to figures released by the Toronto Real Estate Board. Some 6,519 properties changed hands in November, up just 2.6 per cent from the 6,354 homes that sold in the same month of 2013 as the market headed into its usual holidays slowdown.
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More clarity needed for syndicated mortgage websites
Mortgage Broker News
Following a FSCO warning about an unlicensed syndicated mortgage referral website, one industry leader suggests there needs to be more clarity when it comes to these arrangements. In an official statement, the commission warned consumers that InTeg Financial is not licensed to broker mortgage business in Ontario.
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New tax scrutiny for will-bestowed real estate
Toronto Star
The Ontario government is cracking down on estate trustees who do not accurately declare the full value of a deceased person's assets, including real estate. Starting January 1, 2015, estate representatives who receive a court certificate of appointment as estate trustees — commonly referred to as probate — will be required to file an estate information return with the minister of finance. The return will be due within 30 days.
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Net tool lets you check neighbourhood before buying
The Hamilton Spectator
Evaluating a neighbourhood's characteristics plays a crucial role for homebuyers. It can make or break a home's appeal, and every buyer has a different checklist for neighbourhood compatibility. Is there a dog-friendly park nearby? Are there quality schools within walking distance? Can I get my organic grocery shopping done conveniently?
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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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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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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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An excess of 'experts' slows the Toronto real estate market
The Globe and Mail
The traditional seasonal slowdown in Toronto's real estate market appears to have arrived a little early this year. Most years, the housing market calms in December. Listings fall off and prospective buyers are distracted by the holidays. Thomas Neal, a real estate agent with Royal LePage Estate Realty in the Beaches, began to feel a little less harried about mid-November.
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A visionary's view of home ownership in the GTA
Toronto Star
In the twilight of his 43-year career, architect Attila Burka may be losing his eyesight but he has a clear vision of one of the GTA's biggest housing challenges: The waning dream of owning a house. With skyrocketing land costs shutting buyers out of the market for detached single family homes in Toronto, Burka says all levels of government need to focus on quickly building the efficient network of rapid transit to connecting communities, while also promoting the benefits of "vertical villages" in high-density areas.
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6-storey wood buildings 'a game-changer'
The Globe and Mail
From the outside, the four-storey apartment building clad in brick and vinyl looks like any other new mid-rise residential structure. What sets it apart — and signals a coming trend — is hidden from view: The building is framed in wood, not concrete or steel. Here, and elsewhere in Canada, wood-frame construction is about to lose its invisibility. Under recent and pending building codes revisions in several Canadian jurisdictions, wood will be permitted in multiresidential and office buildings up to six storeys (compared with four storeys in most jurisdictions) with extra fire safety safeguards.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Mississauga Real Estate Board (MREB) elects 2015 Board of Directors (MREB)
Mississauga opens 4 Transitway stations (CBC News)
In Toronto, even a house with a blemish is a hot seller these days (The Globe and Mail)

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Real Estate Update
Frank Humada, Director of Publishing, 289.695.5422
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