Are you a first time home buyer?

Are you a First time home buyer?

1. Home Buyer’s RRSP plan: Each individual can withdraw up to $25,000 to buy or build their first home or to buy a home for a related person with a disability by applying under the Home Buyers' Plan.

2. First-time home buyers’ tax credit: Eligible first-time home buyers who acquire a home are entitled to claim up to $5,000 credit.

3. Land Transfer Tax Refund for First-time Home buyers: When you buy land or an interest in land in Ontario, you pay land transfer tax. First-time home buyers may be eligible for a refund of all or part of the tax. Maximum $2000.

All information are available at http://www.cra-arc.gc.ca/menu-eng.html 


Don't tax My Dream!

The provincial government is seriously considering giving ALL municipalities the ability to charge a second land transfer tax, on top of the provincial land transfer tax. Currently, only the City of Toronto has the authority to levy this tax, but we know that other municipalities have expressed an interest to do so if they are given the option. 

Please Take less than a minute and tell the Ontario government to rethink its plan to double the land transfer tax on all Ontario home buyers. Your voice will make a difference.....please share this! 

CLICK HERE TO VOICE YOUR OPINION: http://www.donttaxmydream.ca/helpstop.html 


Strong Sales Continue in October (RAHB Data)

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,421 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in October.  Sales were 13 per cent higher than the same month last year, 25.8 per cent higher than the 10-year average, and were a record for the month of October.  This is the third month in a row where records for monthly sales have been broken.  

Actual overall residential sales of 1,363 units were 12.9 per cent higher than the same month last year.  Residential freehold sales were 12.6 per cent higher than last October while sales in the condominium market increased by 14.3 per cent.  

The average days on market decreased from 41 to 35 days in the freehold market and from 38 to 35 days in the condominium market when compared to the same month the previous year.

The numbers for the month of October, 2015 compared to October, 2014:

All Property Types                                                       2014                       2015                 % Change           

Listings

1836

1811

-1.4%

Sales

1257

1421

13.0%

Average Sale Price

$421,407

$447,083

6.1%

End of Month Listing Inventory

3825

3402

-11.1%

 

Residential Only

Listings

1679

1678

-0.1%

Sales

1207

1363

12.9%

Median Sale Price

$330,000

$370,000

12.1%

Average Sale Price

$420,719

$436,562

3.8%

Average Days on Market

40

35

 

End of Month Listing Inventory

3085

2644

-14.3%

 

Freehold Only

Listings

1378

1386

0.6%

Sales

963

1084

12.6%

Median Sale Price

$358,500

$399,915

11.6%

Average Sale Price

$453,509

$468,023

3.2%

Average Days on Market

41

35

 

End of Month Listing Inventory

2592

2231

-13.9%

 

Condominium Only

Listings

301

292

-3.0%

Sales

244

279

14.3%

Median Sale Price

$267,450

$290,000

8.4%

Average Sale Price

$291,305

$314,328

7.9%

Average Days on Market

38

35

 

End of Month Listing Inventory

493

413

-16.2%

 

Commercial Only

Listings

157

133

-15.3%

Sales

50

58

16.0%