Information Watch - December 2011

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Mary Spudic Sales Representative 905-855-2200 Information Watch - December 2011 December, 2011 Do you know of a friend or associate looking to buy or sell a house? Click Here       Merry Christmas Canadian home sales edge higher in November OTTAWA - December 15, 2011 – According to statistics released by The Canadian Real Estate Association (CREA), national resale housing activity rose slightly in November 2011 from the previous month. Highlights: Sales activity rose slightly (+0.5 per cent) from October to November on a seasonally adjusted basis. Year-to-date sales remained in line with the 10 year average, but pulled further ahead of last year’s levels. The number of newly listed homes was down 3.4 per cent from October to November. The national housing market remains balanced, but is edging closer to seller’s market territory. The national average price posted a 4.6 per cent year-over-year gain in November, the smallest increase since January. Sales activity recorded through the MLS® Systems of real estate Boards and Associations in Canada edged upward by one-half of a percentage point. This marks the third straight month in which national activity was up from the previous month’s levels. Activity rose in about 60 per cent of all local markets with a record November in the Halifax-Dartmouth region offsetting a dip in sales in Toronto. “The Canadian housing market is proving resilient in the face of ongoing global economic and financial uncertainty, to the benefit of Canadian economic growth,” said Gary Morse, CREA’s President. “That said, some housing markets are picking up while others are holding steady or consolidating, so buyers and sellers should talk to their local REALTOR® to understand current and prospective trends in their local housing market.” Throughout most months in 2011, actual (not seasonally adjusted) national home sales were in line with the 10-year average. November sales marked a break in that pattern, climbing seven per cent above the 10 year average and reaching the fourth highest level on record for the month. “Toward the end of every year, there’s a natural inclination to compare how momentum for national sales activity and average price compare to the year before,” said Gregory Klump, CREA’s Chief Economist. “National sales activity picked up late last year, and November’s results suggest that a similar trend may be playing out again this year. By contrast, national average price also picked up toward the end of last year, whereas this year it has held steady after having peaked in the spring.” “With interest rates expected to remain low for longer, the housing sector will no doubt be closely watched for signs of excess,” added Klump. “That said, current trends for resale housing and new home construction suggest that tightened mortgage regulations are working as intended and fostering economic stability in Canada.” A total of 432,048 homes have traded hands via Canadian MLS® Systems so far this year, up 2.1 per cent from levels in the first 11 months of 2010. The year-to-date sales figure remains broadly in line (+0.7 per cent) with the average for that period from 2001 to 2010. Compared to October, the number of newly listed homes fell 3.4 per cent in November. New listings slipped lower in more than two-thirds of Canadian housing markets, with Toronto, the Hamilton-Burlington region, and Calgary contributing most to the national decline. The national housing market remains balanced, but is edging closer to seller’s market territory. The national sales-to-new listings ratio, a measure of market balance, stood at 55.5 per cent in November, up from 53.4 per cent in October. This marks the third month in which the national ratio has risen, and it now stands at its highest reading since the spring. Based on a sales-to-new listings ratio of between 40 to 60 percent, just over half of local markets in Canada were balanced in November, while a third of markets qualified as sellers’ markets. The number of months of inventory nationally stood at six months at the end of November. It has held steady at about this level since April, which is above levels posted during the first quarter. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of the balance between housing supply and demand. The actual (not seasonally adjusted) national average price for homes sold in November 2011 stood at $360,396. This represents a year-over-year increase of 4.6 per cent, its smallest increase since January. PLEASE NOTE: The information contained in this news release combines both major market and national MLS® sales information from the previous month. CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 100,000 REALTORS® working through more than 100 real estate Boards and Associations. Bank of Canada maintains overnight rate target at 1 per cent Ottawa - The Bank of Canada announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Uncertainty around the global economic outlook has increased in the weeks since the Bank released its October Monetary Policy Report (MPR). Conditions in global financial markets have deteriorated as the sovereign debt crisis in Europe has deepened. Additional measures will be required to contain the European crisis. The recession in Europe is now expected to be more pronounced than the Bank had anticipated in October, as a result of increased deleveraging and tighter financial conditions, as well as necessary fiscal austerity and structural reforms. Recent economic data suggest that growth in the United States has been slightly more robust than anticipated, largely as a result of continued vigour in consumer spending and business investment. Nonetheless, household deleveraging, fiscal consolidation and negative spillover effects from the European crisis are all expected to weigh on U.S. growth. Growth in China and other emerging-market economies continues to be strong, although there are signs that it is moderating to a more sustainable pace in response to weaker external demand and the lagged effects of past policy tightening. On balance, recent economic indicators in Canada suggest that growth in the second half of this year is slightly stronger than the Bank projected in October. Household expenditures have more momentum than had been expected and business investment remains solid. Going forward, the weaker external outlook is expected to dampen GDP growth in Canada through financial, confidence and trade channels. The economy also continues to face competitiveness challenges, including the persistent strength of the Canadian dollar. Although total CPI inflation has been slightly higher than projected, the Bank continues to expect the inflation rate to decline as a result of reduced pressures from food and energy prices and ongoing excess supply in the economy. Core inflation has also been slightly firmer than projected and is expected to ease as the output gap persists well into 2013. Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate at 1 per cent. With the target interest rate near historic lows and the financial system functioning well, there is considerable monetary policy stimulus in Canada. The Bank will continue to monitor carefully economic and financial developments in the Canadian and global economies, together with the evolution of risks, and set monetary policy consistent with achieving the 2 per cent inflation target over the medium term. Holiday Security Tips for Your Home Going away? These tips will help you to secure your home and deter burglars. Our Top 9 Holiday Security Tips for your home 1.     Let a trustworthy neighbour know you are going away 2.     Don't discuss your holiday plans in a public place 3.     Don't leave gardening tools or ladders around the perimeter of your house 4.     Ensure your home has adequate security signage 5.     Don't put your present boxes outside your house for all to see 6.     Have a monitored security alarm system 7.     Have exterior sensor lights and interior lights on timers 8.     Cancel you paper delivery 9.     Clear any bushes or shrubs that may provide a concealed entrance Break and Enter Spike - New Years Eve The incidence of break and enter to a dwelling increases by a whopping 51% on New Years Eve according to the latest research. Take these extra measures to increase security at your home particularly on New Years Eve. RE/MAX Sells More Real Estate! Mary Spudic Sales Representative 905-855-2200 Fax: 905-855-2201 mary.remax@cogeco.ca RE/MAX Realty Enterprises Inc., Brokerage - Mississauga, Ontario Independently Owned and Operated Visit My Website

Information Watch - November 2011

Mary Spudic Sales Representative 905-855-2200 Information Watch - November 2011 November, 2011 Do you know of a friend or associate looking to buy or sell a house? Click Here Canadian home sales edge higher in October OTTAWA – November 15, 2011 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity picked up a little further in October 2011 following the uptick in September. Highlights: Sales activity rose in October, marking the highest level since January. Actual (not seasonally adjusted) national sales activity in October stayed in line with the 10-year average for the month, as it has most months this year. Year-to-date sales are also even with the 10-year average. The number of newly listed homes remained little changed from levels in the previous three months. While the combination of stronger sales and stable new listings resulted in a slightly tighter balance of supply and demand, the national housing market remains firmly rooted in balanced territory. The national average price posted a 5.5 per cent year-over-year gain in October, the smallest increase since January. Homes sold through MLS® Systems of real estate Boards and Associations in Canada rose 1.2 per cent in October 2011 from the previous month. While national sales activity levels are still best described as average, the monthly rise in October sales built on the 2.5 per cent gain in September, and lifted activity to the highest level since January. Just over half of all local markets posted monthly sales increases, led by gains in Montreal, Toronto, and Vancouver. "There was no shortage of headline news in October about global financial market volatility and economic uncertainty, but it doesn’t appear to have dampened homebuyers’ spirits,” said Gary Morse, CREA’s President. “Interest rates are at low levels and are likely to stay that way for some time to come. Homebuyers clearly see the opportunities that the current interest rate environment presents. That said, all real estate is local, so buyers and sellers should consult their local REALTOR® for an understanding of opportunities in their housing market." As has been the case in most months this year, actual (not seasonally adjusted) national home sales in October stayed in line with the 10-year average for the month. Although up 8.5 per cent from levels one year ago, the gain in large part reflects last year’s nascent pick-up in activity following a mid-year lull. A total of 397,561 homes have traded hands via Canadian MLS® Systems so far this year. This represents an increase of 1.8 per cent from levels in the first 10 months of 2010, but is directly in line with the 10-year average for the year-to-date figure. The number of newly listed homes remained little changed in October compared with levels recorded in each of the previous three months. "The prevailing economic outlook for Canada is one of slower but still positive economic growth, with heightened caution about investment and hiring decisions," said Gregory Klump, CREA’s Chief Economist. “Consumer confidence and the housing sector are being supported by low interest rates and high employment levels, but their prospects depend on how Canada’s economic outlook evolves in response to global economic risks and outcomes in the months ahead. Home sales activity over the past couple of months suggests buyers are confident that the Canadian economy will remain relatively unscathed by global economic risks, since every home purchase is a homebuyer’s vote of confidence in the future. That confidence is no doubt rooted in the success of coordinated fiscal and monetary policy responses that helped quickly pull Canada out of the last recession, and a stated willingness and ability to carry out further policy actions if need be.” While the combination of stable new listings and stronger sales made for a slightly tighter balance between supply and demand in October, the national housing market remains firmly rooted in balanced territory. The national sales-to-new listings ratio, a measure of market balance, stood at 53.4 per cent in October, up from 52.8 per cent in September. Based on a sales-to-new listings ratio from 40 to 60 percent, about 60 per cent of local markets in Canada were in balanced market territory in October. Of the remaining markets, there was a handful more seller’s markets than buyers' markets. The number of months of inventory stood at six months at the end of October on a national basis, little changed from the end of September (6.1 months). It has remained stable at about six months since April. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of the balance between housing supply and demand. The actual (not seasonally adjusted) national average price for homes sold in October 2011 stood at $362,899. This is up 5.5 per cent from October 2010, making it the smallest increase since January. PLEASE NOTE: The information contained in this news release combines both major market and national MLS® sales information from the previous month. CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 100,000 REALTORS® working through more than 100 real estate Boards and Associations. CREA Updates Resale Housing Forecast OTTAWA – November 15, 2011 – The Canadian Real Estate Association (CREA) has made a small revision to its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2011 and 2012. Activity came in broadly in line with expectations across much of the country in the third quarter of 2011 with the exception of Ontario. Sales there came in stronger than anticipated in a number of regions over the summer, but were held aloft mostly by Toronto activity as the third quarter ended. Stronger than anticipated sales in Ontario pushed up national activity in the third quarter, and prompted CREA to raise its annual sales forecast for 2011 from 0.9 per cent to a revised 1.4 per cent. "The continuing strength of home sales activity in the face of ongoing financial market volatility speaks volumes about the confidence of Canadians in our housing market", said Gary Morse, CREA’s President. "Interest rates look like they'll remain low at levels that are friendly to the housing market for some time to come, and that’s good news for Canadian home sales activity and the overall economy." CREA forecasts that national sales activity in 2012 will ease by 0.5 per cent to 451,200 units. This represents a small upward revision CREA's previous 2012 sales forecast, and reflects expectations that Canadian interest rates will remain low until well into next year. Forecast sales for 2011 and 2012 remain roughly on par with the annual average for activity over the past ten years. The national average price has evolved as CREA expected, with average home prices in Vancouver moderating compared to levels in the first half of the year. Vancouver sales of multi-million dollar properties have returned to more normal levels after having shattered a number of monthly records this spring. CREA's national average home price forecast for 2011 is little changed at $362,700, representing an annual increase of 7.0 per cent. In 2012, the national average price is forecast to hold even with the 2011. "A number of factors will keep Canada's housing market in check as interest rates remain low," said Gregory Klump, CREA's Chief Economist. "These include tightened mortgage regulations, high household debt levels, together with slower economic and job growth. That said, with global economic growth expected to remain fragile but positive, employment levels and income growth in Canada should remain supportive for the housing market." "Headline news about economic uncertainty has put only minor dents in consumer confidence. How confidence evolves depends on how global turmoil plays out over the coming months. Should global economic headwinds weigh more heavily than expected on Canadian economic prospects, the federal government and the Bank of Canada have made it clear they stand ready to take flexible and measured responses as appropriate. That's encouraging from the standpoint of the Canadian economic and housing market prospects." Real estate becoming more affordable: RBC Owning your own home became slightly more affordable in the third quarter of 2011 thanks to continuing low interest rates, according to RBC's latest study on housing affordability. The affordability measure captures the proportion of pre-tax household income that would be needed to service the costs of owning a certain type of home. In the third quarter, that index fell for all categories of housing. "Housing affordability levels are quite good in most parts of Canada and will pose little threat to overall housing demand," said Craig Wright, senior vice-president and chief economist. "The Vancouver-area market continues to be a major exception, with sky-high property values in upscale neighbourhoods making it both extremely unaffordable and the most at risk of a downward correction." The uncertainty affecting the global economy, with Europe mired in a debt crisis, is helping to keep interest rates close to historic lows. Rates are unlikely to rise until the middle of next year, and even then only gradually, RBC said. The cost of owning a detached bungalow dropped in most major cities in the third quarter, with the exception of Toronto and Calgary, which ticked higher. Although overall affordability improved slightly in the three months to September, housing costs in Toronto, Montreal and Ottawa are also in an "uncomfortable" range. "We expect to see further slowing in the pace of home price increases next year, as housing demand levels out," said Wright. "These factors will set the stage for a period of relative stability in affordability trends in Canada." According to the index, the higher the reading, the less affordable it becomes to own a home. For example, an affordability reading of 50% means that home-ownership costs, including mortgage payments, utilities and property taxes, take up 50% of a typical household's monthly pre-tax income. The index in Vancouver stands at 90.6%, Toronto 52.1% and Montreal 40.9%. Bank of Canada Issues $100 Bill – First Canadian Polymer Bank Note Ottawa, Ontario - The Bank of Canada today began circulating the new $100 bill – Canada’s first polymer bank note. This new note will be available at financial institutions from coast to coast to coast over the next few weeks. The $100 note features a portrait of Sir Robert Borden, Prime Minister of Canada between 1911 and 1920, on the front and celebrates Canada’s contributions to innovation in the field of medicine on the back. It was officially released into circulation by Governor Mark Carney at an event in Toronto, Ontario. Remarking that the new polymer bank notes are themselves the product of Canadian ingenuity, combined with innovative technologies from around the globe, Governor Carney said the $100 note is an important step toward significantly increasing the security of Canada’s bank notes. “Just as the images on this note depict Canadian achievements at the frontier of medicine, the advanced security features embedded in these new polymer bills are at the frontier of bank note technology,” Governor Carney said. “This will protect Canadians against tomorrow’s counterfeiting threats. As well, these new notes will last at least two-and-a-half times longer than paper notes and will be recycled – saving money and being better for the environment.” “Safer, cheaper and greener: these new bank notes are a 21st-century achievement in which all Canadians can take pride and place their confidence,” he concluded. The new polymer bank notes, among the most advanced in the world, contain leading-edge security features that make them difficult to counterfeit but easy to verify; for example, a large transparent area extends from the top to the bottom of the note and contains complex holographic features that can be viewed from both sides. Since unveiling the polymer bank note series in June 2011, the Bank of Canada has been working closely with financial institutions and the manufacturers of bank note equipment to support a smooth transition to the new notes. Through its regional offices across the country, the Bank has also been working with law enforcement and retailers to ensure that front-line police officers and cash handlers are familiar with the new security features and to encourage the regular authentication of bank notes. The $50 note, which was also unveiled in June, will be issued in March 2012. The $20 note will begin circulating in late 2012, followed by the $10 and $5 notes by the end of 2013. Detailed images of the notes and information on their designs will be released on their official unveiling dates. Winter Gardening The fall clean-up is done, your bulbs are planted and your looking forward to the spring gardening season. You need not look so far ahead. Winter can be a busy time for gardeners. Planning, of course, is essential but there are a few other chores which can be done as well. Here are a few gardening tips to help you get through winter. Review last year's journal and start a new one for this year by recording your seed/plant orders Browse through catalogs or spend a little time online searching for the plants you'll be using during the upcoming season. First, however, plan your new garden or update your existing one. Rework your garden design, think about what was missing in the garden during the previous season. Also, look around, what could make the landscape more interesting during the winter months. Often, a large evergreen serving as an anchor or specimen shrub can improve a winter landscape. Look for shrubs with winter berries, trees which begin budding in late winter or tress and shrubs with interesting form or colorful bark. Forethought is essential when planning successful garden. After you've decided what you'd like your new garden to offer begin a site analysis. Having a clear understanding of your site's conditions is important it will enable you to make informed decisions regarding design and plant selection. Determine the following factors; climate & micro-climate, sun & shade conditions, wind exposure, soil composition and existing vegetation. Plant hardiness zone maps divide the country into zones based on the lowest average winter temperature. A plant that is adapted to your hardiness zone is one that can tolerate the lowest winter temperature your zone typically experiences. Find out the zone in which you live and use it as guide during your plant selection process. Along with the overall climate conditions of your area, micro-climates within your specific site also determine what is appropriate for your garden. A sunny spot against a brick wall with a southern exposure, for example, will be warmer than its surrounding environment, even during the coldest winter days. In a space such as this, plants which are borderline hardy have a better chance at survival than if planted elsewhere in the garden. Being aware of the sun and shade conditions in your garden is essential garden design and to the long term success of your new plantings. Improperly placed plants are a main reason for unnecessary transplants. Most plants prefer at least some shade during the day. Getting to know the conditions of your site before you begin planning and planting can be the difference between success and disappointment. Properly planned gardens ensure the time you invest in you garden is worth it, as each properly placed plant thrives. Aside from reworking your garden design, there are some tasks which will need to be done in the garden during the winter. For instance, Prune your deciduous trees and shrubs in the winter while they are dormant. Check on your stored bulbs. Check your perennial gardens for heaving, especially in areas prone to repeated freezing and thawing. Recycle your Christmas tree as garden mulch or a bird feeder. Feed the birds and provide them with some unfrozen water. Shake the snow off of your evergreen shrubs after snow storms. Also, sharpen your tools so you'll be ready to get to work when the ground thaws. Though the plants are dormant and snow is on the ground, winter is the ideal time to prepare for a busy gardening season.

TURN OFF AND DRAIN YOUR OUTDOOR FAUCETS

TURN OFF AND DRAIN YOUR OUTDOOR FAUCETS

Maintenance Instruction  

One winter, a friend returned from a week of skiing to discover that his basement was badly water damaged. He forgot to turn off the water to an outdoor faucet. The pipe to the faucet froze and split where it poked through the foundation wall. A warm spell melted the ice in the pipe, and the water flowed for several days before he returned home. It was a huge and avoidable mess. WHAT ? Turn off the water to your outdoor faucets. WHEN ? Soon, before we have overnight lows dipping below -3°C (27°F). WHY ? To avoid splitting a pipe or faucet, but more importantly, to avoid the ensuing water damage. HOW ? Locate all your exterior faucets. Don't forget the one in the attached garage if you have one. You will find the pipe that feeds each faucet in the basement. There will be a shutoff valve on this pipe. Close the valve and open the drain cap. Also open the outside faucet to let water drain from the pipe. TIPS If you have a faucet you'd like to use regularly in the winter (for a skating rink for example), then consider a frost-proof faucet. These faucets are very long and have an equally long valve stem. When you turn the handle on the outside of the house, you're actually operating a valve on the inside of the house, so you won't get frozen or burst pipes.   If you don't have frost-proof valves, hang a tag on the indoor shutoff valve. They'll be easier to find every spring and fall.   Don't forget to drain the outdoor hose.

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Information Watch - October 2011

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Mary Spudic Sales Representative 905-855-2200 Information Watch - October 2011 October, 2011 Do you know of a friend or associate looking to buy or sell a house? Click Here Interest rates to remain on hold for longer The Bank of Canada kept its trend-setting Bank Rate at 1.25 per cent on October 25, 2011. This marks the ninth consecutive announcement in which interest rates have been held steady. The tone of the accompanying statement was very dovish, with the Bank noting that “the global economy has slowed markedly as several downside risks to the projection outlined in the Bank’s July Monetary Policy Report (MPR) have been realized.” Of particular note, the Bank said it now expects a “brief recession” in the Eurozone. The Bank remains of the opinion that the euro-area crisis will be contained, but flagged obvious downside risks to that assumption. As a result of this and other factors, the Bank has downgraded its forecast Canadian economic growth this year (2.1% compared to 2.8% in the July MPR) and for 2012 (1.9% compared to 2.6% in the July MPR). That said, the outlook for growth in 2013 was upgraded to 2.9% from 2.1%, indicating the Bank believes that anticipated stronger growth will eventually be achieved. Along with the return of more robust economic activity being pushed further out into the future, core inflation is now expected to remain below the Bank’s 2% target until the end of 2013. What it all means is that interest rates will likely be on hold even longer. Expectations as to how long it would be before the Bank hikes rates had previously centered around the fall  of 2012, although it will now more likely be into 2013 before the Bank begins to tighten monetary policy from current levels. As of October 25, 2011, the advertised five-year lending rate stood at 5.29 per cent. This is down 0.1 percentage points from 5.39 per cent on September 7, when the Bank made its last policy interest rate announcement. The Bank will make its next scheduled rate announcement on December 6th, 2011. Canada's housing market: 'Slowdown postponed' Housing outlook A new report on Canada's housing market carries this notable title: "Slowdown postponed." The report from National Bank Financial is in line with other forecasts, projecting the market will slow in 2012 and 2013, but it won't crash. National Bank's Shubha Khan also upgraded his projection for this year because of a stronger-than-expected third quarter and a longer-than-expected timeline for interest rate hikes in Canada. "Given the resulting deterioration in the global economic outlook, the Bank of Canada is now expected to leave its policy rate unchanged until late 2012 or early 2013," Mr. Khan said. "Mortgage rates will almost certainly linger near their current historical lows for at least the next 12 months, which should prevent a pronounced slump in housing market activity. We previously expected rate hikes would materialize as early as [the fourth quarter of] 2011." Mr. Khan projects an 8-per-cent gain in the dollar value of home sales this year, a 3-per-cent dip in 2012 and a 5-per-cent decline a year later. "Given our interest rate outlook, housing affordability is projected to be stable through 2012, which suggests that home prices are unlikely to adjust materially next year," Mr. Khan added in a discussion about the debt service ratio, or DSR, for mortgages. The DSR, or what's needed in terms of a household's disposable income to meet its monthly payments, now stands at 21.6 per cent, compared to a 20-year average of 20 per cent. "In 2013, however, rising interest rates will result in a significant deterioration of the DSR ... pricing many potential buyers out of the market unless (i) home prices decline or (ii) households’ appetite for credit expands (i.e. households tolerate a higher DSR)," he said in the report. "With the weak global economy weighing on consumer confidence and non-mortgage credit at record levels, this appetite is unlikely to grow. Therefore, home prices will have to fall, in our view ... we estimate that the average home price will have to decline by around 9 per cent from current levels if, as we expect, mortgage rates increase by 100 to 150 basis points in 2013." Canadian home sales pick up in September OTTAWA – October 17, 2011 – According to statistics released by The Canadian Real Estate Association (CREA), national resale housing activity picked up in September 2011. Highlights: • Sales activity rose 2.7 per cent in September from the previous month. • Holding in line with the ten-year average, activity during the first nine months of this year pulled ahead of sales over the same period last year. • The number of newly listed homes held steady when compared to the previous month. • The national housing market tightened in September from the month before, but remains firmly entrenched in balanced territory. • The national average price posted the smallest year-over-year increase since January. National sales activity rose 2.7 per cent in September when compared to August, and follows three months of stable activity. September’s increase reflects strengthened activity in a number of major markets, led by Toronto. The monthly increase pushed national sales to its highest level since recently tightened mortgage regulations dampened sales earlier this year. Actual (not seasonally adjusted) national sales activity came in 11 per cent above levels in September 2010. As was the case over the summer, the year-over-year increase reflects weakened activity one year ago. A total of 361,749 homes have traded hands via Canadian MLS® Systems to date this year. This is 1.2 per cent above levels for the same period in 2010, and in line with the ten-year average. “The Canadian housing market remains a bright spot against a backdrop of mixed headline news about the global economy,” said Gary Morse, CREA President. “Low mortgage rates continue to draw buyers to the housing market, while recently tightened mortgage regulations are working as intended. That said, housing market trends often diverge from national trends due to local factors, so buyers and sellers should talk to a local REALTOR® to understand housing market trends at play where they live.” The number of newly listed homes nationally was little changed from each of the previous two months. New listings were up from the previous month in a number of major markets including Toronto, Montreal, Ottawa, Oakville and Vancouver, offset by fewer new listings in other markets including Edmonton and the Fraser Valley. The monthly rise in sales resulted in a tighter national housing market that remains firmly planted in balanced territory. The national sales-to-new listings ratio, a measure of market balance, stood at 52.8 per cent in September, up from 51.6 per cent in August. Based on a sales-to-new listings ratio of between 40 to 60 percent, nearly two-thirds of all local markets in Canada were in balanced market territory in September, with an even split of buyer’s and seller’s markets among the remainder. The number of months of inventory stood at 6.1 months at the end of September on a national basis, little changed from the end of August (6.2 months). It represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of balance between housing supply and demand. Months of inventory have held steady at about six months since April. The actual (not seasonally adjusted) national average price for homes sold in September 2011 stood at just under $352,600, remaining below record level heights reached earlier this year. While up 6.5 per cent from September 2010, the year-over-year increase is the smallest since January. “Canada’s housing market remains stable amid continuing financial market volatility, contributing to Canadians’ confidence in the economy and providing support for Canadian economic growth,” said Gregory Klump, CREA’s Chief Economist. “Interest rates are expected to remain low for longer, and evidence suggests that recent changes to mortgage regulations are preventing the kind of excesses they were designed to avert. Both of these developments are good news for the housing market.” PLEASE NOTE: The information contained in this news release combines both major market and national MLS® sales information from the previous month. CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 99,000 REALTORS® working through more than 100 real estate Boards and Associations. September 2011 Housing Starts OTTAWA, October 11, 2011 — The seasonally adjusted annual rate of housing starts was 205,900 units in September, according to Canada Mortgage and Housing Corporation (CMHC). This is up from 191,900 units in August 2011. “Housing starts picked up in September due to an increase in multiple starts in the Atlantic region, Quebec and in British Columbia,” said Mathieu Laberge, Deputy Chief Economist at CMHC’s Market Analysis Centre. “Multiple housing starts are expected to move back towards levels consistent with demographic fundamentals in the near term.” The seasonally adjusted annual rate of urban starts increased by 8.0 per cent to 185,900 units in September. Multiple urban starts were up by 14.2 per cent to 118,000 units, while urban single starts decreased by 1.5 per cent in September to 67,900 units. September’s seasonally adjusted annual rate of urban starts increased by 47.0 per cent in the Atlantic region, 32.0 per cent in Quebec and by 18.6 per cent in British Columbia, while urban starts decreased by 3.5 per cent in Ontario and by 12.1 per cent in the Prairie region. Rural starts were estimated at a seasonally adjusted annual rate of 20,000 units in September. As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions. Halloween Food Safety Tips Halloween is a fun and exciting time for children, and for adults! However, the excitement of Halloween shouldn¡¯t make us forget about food safety. You should also keep in mind that children with allergies and sensitivities must be especially careful before eating trick-or-treat goodies or certain foods served at Halloween social gatherings. The following steps will help make Halloween an enjoyable experience for everyone. Before Trick-or-Treating Remind children not to eat any of their collected goodies while out trick-ortreating, until they are inspected by an adult. Remind children not to accept and especially not to eat homemade candy or baked goods. Give children a snack or light dinner before they go out to help prevent them from munching while trick-ortreating. Don't send them out on an empty stomach! After Trick-or-Treating Throw away homemade candy or baked goods. Check all commercially wrapped treats. Throw out any treats that are not wrapped, those in torn or loose packages, or those that have small holes in the wrappers. Be cautious before giving children treats that could be potential choking hazards, such as chewy candies, gum, hard candies, lollipops, mini-cup jelly products, peanuts, or small toys. Depending on the size, shape, consistency and composition, mini-cup jelly products may become lodged in the throat and may be difficult to remove. Wash fresh fruit thoroughly. Inspect it for holes, including small punctures, and if found, do not let children or adults eat the fruit. Remember, when in doubt, throw it out! Children with Allergies and Sensitivities Some Halloween treats may contain ingredients that can cause severe adverse reactions in children who have allergies or sensitivities. These treats often include ingredients such as peanuts, tree nuts, milk and egg - some of the most common food allergens. Some treats, such as chocolate products, may contain allergens that are not declared on the label. The most common undeclared allergens found in chocolate products include peanuts, tree nuts and milk protein. Consuming products with an undeclared allergen can be life-threatening. You should therefore take the following precautions before allowing children with allergies and sensitivities to eat any Halloween goodies: Throw away homemade candy or baked goods. Read labels carefully for all commercially wrapped treats. Avoid products that do not have a list of ingredients. Bear in mind that Halloween candies do not always have ingredients listed on their labels. Avoid products with precautionary labelling (may contain¡± statements). Do not allow your children to consume a particular product if you are unsure if it contains an allergen. Halloween Parties and Food Safety When preparing or serving food at Halloween parties, it is always important to follow safe food-handling practices. Here are a few tips you should follow to prevent harmful bacteria from spreading and causing foodborne illness.

Information Watch - September 2011

Mary Spudic Sales Representative 905-855-2200 Information Watch - September 2011 September, 2011 Do you know of a friend or associate looking to buy or sell a house? Click Here Canadian home sales hold steady in August OTTAWA – According to statistics1 released on September 15, 2011 by The Canadian Real Estate Association (CREA), national resale housing activity in August 2011 remained stable for the second consecutive month. Highlights: • Sales activity was stable from July to August, but posted another big year-over-year gain reflecting weakened demand last summer. • Year-to-date sales pulled ahead of 2010 levels for the first time this year, and remain in line with the ten-year average. • The number of newly listed homes was also little changed from July to August. • The national housing market stayed firmly entrenched in balanced territory. • There were more balanced local markets in August than at any other time on record. • The national average price posted another year-over-year gain in August, but has moderated from elevated levels earlier this year. • Upward skewing of the national average price is diminishing due to fewer expensive sales and a declining share of national activity in Vancouver and Toronto. For a second consecutive month, national home sales activity held steady in August 2011 when compared to the previous month. Among major urban centres, Toronto and Ottawa posted a monthly increase in activity while Calgary, Montreal and Vancouver saw activity decline slightly. “The housing market in Canada remained on a firm footing in August when compared to volatile financial markets,” said Gary Morse, CREA President. “Through their actions, homebuyers are showing that they remain confident about the stability of the Canadian housing market, and recognize that the continuation of low interest rates represents an excellent opportunity to buy their first home or trade up.” Actual (not seasonally adjusted) sales activity came in 15.8 per cent above national levels reported one year earlier. This was the largest year-over-year increase since last April, but largely reflects weakened activity one year ago. A total of 324,030 homes have traded hands via Canadian MLS® Systems so far this year. While this stands only marginally above levels in the first eight months of last year, it nevertheless marks the first time this year that year-to-date activity has pulled ahead of 2010 levels. As has been the case for much of this year, the year-to-date sales figure continues to run in line with the ten-year average. The number of newly listed homes nationally was also little changed from July to August. This kept the national housing market firmly planted in balanced territory. The national sales-to-new listings ratio, a measure of market balance, stood at 51.6 per cent in August, unchanged compared to July. Based on a sales-to-new listings ratio of between 40 to 60 per cent, 70 per cent of all local markets in Canada were in balanced market territory in August – a greater percentage than at any other time on record. There were just 12 buyers’ markets in August, which was the lowest figure so far this year. The number of months of inventory stood at 6.2 months at the end of August on a national basis, which is little changed from the end of July (6.1 months). The national months of inventory figure has been stable at about six months since April. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of the balance between housing supply and demand. The actual (not seasonally adjusted) national average price for homes sold in August 2011 stood at $349,916. This is 7.7 per cent above its year-ago level, which marked the low point for 2010. The national average price has moderated compared to earlier this year, with sales activity in Vancouver, and more recently in Toronto, exerting less of an effect on the national average. Their share of provincial and national sales activity reached unusually elevated levels earlier this year, but has since receded in line with normal seasonal variations. “Once again, economic and financial market headwinds outside Canada are keeping interest rates lower for longer,” said Gregory Klump, CREA’s Chief Economist. “Those headwinds will likely persist until, and indeed after, fiscal quagmires in the U.S. and Europe are resolved. In the meantime, the Bank of Canada will have ample reason to delay raising interest rates further, which is supportive for the Canadian housing market.” PLEASE NOTE: The information contained in this news release combines both major market and national MLS® sales information from the previous month. CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 100,000 REALTORS® working through more than 100 real estate Boards and Associations. Further information can be found at http://www.crea.ca/public/news_stats/media.htm. 1 All figures in this release, unless otherwise noted, are seasonally adjusted to remove normal seasonal variation. Removing regular seasonal variations enables analysis of monthly changes and fundamental trends in the data. Bank of Canada maintains overnight rate target at 1 per cent Ottawa, Ontario - The Bank of Canada announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The global economic outlook has deteriorated in recent weeks as several downside risks to the projection in the Bank’s July Monetary Policy Report (MPR) have been realized. The European sovereign debt crisis has intensified, a broad range of data has signalled slower global growth, and financial market volatility has increased sharply. Recent benchmark revisions show that the U.S. recession was deeper and its recovery has been shallower than previously reported. In combination with recent economic data, this implies that U.S. growth will be weaker than previously anticipated. The Bank expects that American household spending will be even more subdued in the face of high personal debt burdens, large declines in wealth and tough labour market conditions. Fiscal stimulus in the United States will also soon turn into material fiscal drag. Acute fiscal and financial strains in Europe have triggered a generalized retrenchment from risk-taking and could prompt more severe dislocations in global financial markets. Resolution of these strains will require additional significant initiatives by European authorities. Growth in emerging-market economies has been robust, although its rate and composition will be affected by weakness in major advanced economies. While commodity prices have declined owing to diminished global growth prospects, they remain relatively high. Largely due to temporary factors, Canadian economic growth stalled in the second quarter. The Bank continues to expect that growth will resume in the second half of this year, led by business investment and household expenditures, although lower wealth and incomes will likely moderate the pace of investment and consumption growth. The supply and price of credit to businesses and households remain very stimulative. However, financial conditions in Canada have tightened somewhat and could tighten further in the event that global financial conditions continue to deteriorate. Net exports are now expected to remain a major source of weakness, reflecting more modest global demand and ongoing competitiveness challenges, in particular the persistent strength of the Canadian dollar. Slower global economic momentum will dampen domestic resource utilization and inflationary pressures. The Bank expects total CPI inflation to continue to moderate as temporary factors, such as significantly higher food and energy prices, unwind. Core inflation is expected to remain well-contained as labour compensation growth stays modest, productivity recovers, and inflation expectations remain well-anchored. Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate at 1 per cent. In light of slowing global economic momentum and heightened financial uncertainty, the need to withdraw monetary policy stimulus has diminished. The Bank will continue to monitor carefully economic and financial developments in the Canadian and global economies, together with the evolution of risks, and set monetary policy consistent with achieving the 2 per cent inflation target over the medium term. Inflation rate rises to 3.1% in August Canada's annual inflation rate was stronger than expected in August, checking in at 3.1 per cent as consumers paid more for gasoline and groceries. The August rise followed increases of 2.7 per cent in July and 3.1 per cent in June, Statistics Canada said Wednesday. Economists had been forecasting a 2.9 per cent year-over-year rate of inflation for August, according to a Reuters survey of 24 forecasts. The Bank of Canada's closely watched core inflation index rose 1.9 per cent in the 12 months to August, following a 1.6 per cent gain in July. The higher increase in August was mainly due to a rise in prices for passenger vehicle insurance premiums, food purchased from restaurants as well as bakery and cereal products. The ups and downs of what you spend money onThe central bank aims to keep overall inflation at the two per cent target, the midpoint of its one to three per cent inflation-control target range. The central bank's governor, Mark Carney, said Tuesday that he was not worried about inflation and that he would not raise interest rates. "Despite the upside surprise to core inflation, the Bank of Canada appears in no rush to tighten given the economic and financial market headwinds that are currently blowing," BMO Financial Group chief economist Sherry Cooper said in commentary. "But the appetite to ease now looks smaller." Derek Burleton, deputy chief economist at TD Economics, thinks the August inflation rise will be temporary. "Since August, near-term economic growth prospects globally and in Canada have soured, and world commodity prices have pulled back," Burleton said. "These developments should begin to show up in the September inflation numbers." Higher gas, food prices Statistics Canada said gasoline prices went up 22.8 per cent between August 2010 and August 2011, compared with the 23.5 per cent 12-month increase in July. Prices for fuel oil and electricity also rose, while natural gas prices fell. Food prices went up 4.4 per cent in the 12 months to August, following a 4.3 per cent annual increase in July. Consumers paid 5.0 per cent more for food purchased from stores and 2.7 per cent for restaurant meals. On a seasonally adjusted monthly basis, consumer prices rose 0.3 per cent from July to August. Economists had expected a rise of 0.1 per cent. Poll finds most Canadians content with their debt situation TORONTO – More than half of Canadians feel they are satisfied with their current debt situation, according to a new poll by Royal Bank of Canada. The RBC Debt Poll finds a majority of Canadians, 67 per cent, are comfortable with their current state of debt, or they have no personal debt at all. Three-quarters of Canadians surveyed feel they are in better shape with their non-mortgage debt than their friends and neighbours. The poll reveals demographic information like age and family size is closely linked to debt anxiety. Thirty-nine per cent of 18-to 34-year-olds say they feel anxiety related to their debt, compared to 21 per cent of Canadians 55 and older. The poll reveals the priorities of most Canadians lie closer to financial security rather than lavish living. Ninety-three per cent believe paying down debt is more important than, or just as important as, saving for the future.  Four in ten Canadians remain cautious about their financial situation, opting to forgo or delay plans to avoid adding to their debt loads. Nearly a quarter of those polled say they have postponed a vacation or held off on a big-ticket purchase to avoid falling deeper into debt. The results indicate Canadians with children are most likely to axe their travel plans, curb their consumption or delay the purchase of a home. Forty eight per cent of parents are far more likely to switch their spending intentions due to debt, compared to the 37 per cent national average. Cross-Canada highlights British Columbia: 50 per cent of B.C. residents say saving and investing for the future is as important as paying down debt, the highest rate in the country. Alberta: Albertans are the most anxious about debt compared to other provinces. They’re also the most likely to revise their long-term plans due to debt concerns. Prairies: Residents in Saskatchewan and Manitoba lead the country on not changing their plans due to debt concerns. They’re also the most comfortable and happy with their personal debt situation compared to other provinces. Ontario: 24 per cent of Ontarians said they have no personal debt, above the national average of 22 per cent. Quebec:  27 per cent of Quebecers say they are in worse shape than their friends and neighbours for non-mortgage debt, tying Alberta for the highest rate in the country.   Atlantic Canada: East coast Canadians are the most optimistic about their debt situation compared to their friends, neighbours and other provincial averages.  Autumn Maintenance For Your Home As the leaves change and the days get shorter, take the time this autumn to prepare for the oncoming cold weather. Ready the furnace for the months of work it will have ahead, and clean out the fireplace. Test them both to ensure they’ll be working when you need the heat. Don’t wait until it’s snowing to clear out your gutters. With upkeep in the fall, you’ll have peace of mind in the winter and more time to hibernate. Inside The House Heating System Checkup Be sure to change the air filter in your furnace and check its efficiency before the cold weather begins. Call in an HVAC contractor to test the heating output and give the system a tune-up. This technician can also check for and correct possibly hazardous carbon monoxide levels generated by your heating system. Stock up on several air filters for the winter, and change them every month. If you don’t have a programmable thermostat, purchase one for the system to help lower your energy costs. After your furnace has been tuned up to its maximum efficiency, take a moment to inspect your heating ducts and vents. Dust them off and clear away anything that may have gotten into them over the summer. Then check your windows for any leaks that may compromise your heating efficiency. If you feel cold air coming in, purchase a plastic sealing kit from the hardware store and place the plastic around the window to keep the heat from escaping. Be sure to check your doors as well, and fix their weather-stripping if needed. Check The Fireplace And Chimney Most chimney sweeps recommend an annual sweeping, but depending on how often you use the fireplace, you might be able to wait on a full sweep. But if you will be using the fireplace often, call a chimney sweep for an inspection. For further information, read the Chimney and Woodburning Fireplace Safety guide. Hopefully you will have your older, seasoned firewood now ready for use after sitting for the spring and summer. It’s recommended to keep the firewood at least 30 feet from the house and covered. Seasoned wood is best for fires, as it burns cleaner and longer. Review Home Fire Safety The introduction of the heating season brings new potential for fire hazards, so take a moment to review fire safety in your home. Check and replace fire extinguishers if necessary, and change the batteries in your smoke detectors. Also go over the home fire evacuation plan with your family. Outside The House spanspanspanspan