The federal government has abruptly cancelled the extremely popular retrofit rebate program that gave homeowners across Canada rebates of up to $5,000 when they performed energy-efficient renovations such as replacing windows and insulating their walls.

The popular ecoEnergy retrofit rebate program has been cancelled.

The program was initially slated to end on March 31st, but was instead cancelled earlier this week after the program reached the limit of applicants.

Homeowners who participated in the program had to first undergo an energy audit, which would spell out all of the renovations that could be made in their home. Then after completing the renovations, a second audit would need to be conducted in order for homeowners to qualify for rebates.

Homeowners had until March 31st to apply initially, but now homeowners already in the program have to finish their renovations by that date and no new applications are being accepted. Homeowners in the program have until June 30th to have their second energy audit conducted.

Last time the Retrofit Rebate program was in place, it was also cancelled early for the same reasons. It’s a popular program that creates jobs for the construction industry, and gives homeowners a break when they want to update their home. One lesson homeowners should learn from the cancellation is that if it does come back: apply as soon as possible!

EcoEnergy Retrofit Rebate Program Cancelled Early is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

How’s the Toronto Real Estate Market faring in 2012 so far? Quite well! The Toronto Real Estate Board has just released its mid-month resale housing figures for January 2012, which covers Toronto home sales through the Toronto MLS Listings for the first two months of January in 2012.

Toronto Real Estate sales are doing well even early in 2012. Think warm thoughts!

“The market didn’t miss a beat after the holiday season, with robust sales growth continuing and sellers’ market conditions remaining in place,” said Toronto Real Estate Board President, Richard Silver, in a press release about the mid-month housing figures. “Strong competition between buyers continued to push the average selling price higher in the Greater Toronto Area relative to a year ago.”

GTA real estate agents reported 1,506 sales using the Toronto MLS Listings during this time period, which is an increase of six per cent. New listings also increased over the same time period, rising 3.7 per cent over last year.

To see the full press release, including average prices and sales by property type and area code, click here!

Toronto Real Estate Sales In 2012 – So Far is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

Renovate Your Toronto Real Estate To Sell

The majority of us Toronto homeowners plan to sell – someday, even if it’s not within the next few years. And some of us may desire a new home, but it’s just not feasible or within our financial goals to move this year.

Which renovations are worth your time - and money?

You can get that new-home feel by renovating, and making your renovations cost-effective by choosing the renovations that will give you the highest return on your investment in the terms of dollars when you sell.

The best way to get the highest return is to give yourself the kitchen or bathroom you’ve always wanted, according to the Appraisal Institute of Canada. When you perform a major kitchen or bathroom upgrade, you can expect to get the highest return: between 75% and 100% of your original investment.

But because kitchen and bathroom upgrades can be the more expensive of your renovation options, here are some other less expensive renovations that also offer a high return on your investment:

Interior and/or exterior painting – 50%-100%
Finishing your basement – 50%-80%
Adding a family room – 50%-75%
Installing hardwood flooring – 50%-75%

Some renovations/home additions surprisingly offer a very low return on investment and might be a bit of a waste of money if you’re renovating with selling in mind:

Installing a swimming pool – 10%-40%
Paving your driveway – 20%-50$
Installing skylights – 0%-25%

If you want to see real numbers, check out the Appraisal Institute of Canada’s RENOVA tool. You can plug in how much you expect to spend on a renovation and see your estimated return.

Renovating Your Toronto Real Estate is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

This week, Toronto city council approved a 2.5 per cent residential tax increase for 2012. And to follow the example that all major local news outlets are using, this would add $60 to the current Toronto property tax bill for a home that is assessed at $447,090 – or what’s considered average.

Dust off the old calculator - should you get a Toronto property tax assessment?

Now, $60 isn’t a huge pile of money, but it’s still more than you were paying before. And, you might actually already be paying more than your fair share. Your property tax amount is based on your property tax assessment, which can be too high. An appeal of a property tax assessment that is too high can lead to literally thousands of dollars saved.

Homes along the residential streets of downtown Toronto are more likely to experience a tax assessment that is incorrect and too high. This is because in the sometimes monotonous suburbs, all the houses are of similar size and value because they were often constructed at the same time and by the same builder, as is the case with many neighbourhood developments. These homes are likely to all have the same property tax assessment and can be compared to one another easily.

In downtown Toronto, the homes are very unique and different across the board. You could have new construction, a single-detached older home and a small bungalow all on the same street.

If you’re concerned about your property tax assessment being too high, chat with nearby homeowners who live in homes similar to yours with respect to size, age and design. A discrepancy between tax assessments in similar homes could raise a red flag, but keep in mind that things you can’t see inside of the home – such as a brand new kitchen or master bathroom renovation – can also affect the home’s overall value and therefore the property tax assessment.

Note that for this tax year, the deadline to file a Request for Reconsideration (RfR) with the City of Toronto is April 2, 2012. This review is free of charge. Visit the City of Toronto website for more information.

Getting Your Toronto Property Tax Assessment is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

While Toronto has had an unusually warm winter this year, the next few months are still going to be filled with the dreary overcast days of winter. This time can be a slow one for the Toronto real estate market, just before it picks up in the spring. If you want to sell your home in the coming months, here are a few home staging tips when selling your home in the winter:

Make sure you take down your home holiday decorations long before listing.

1.  Choose pictures from the spring or summer months for your listing.

No one wants to feel like they’re snowed in before they even move in. And while photos from the spring or summertime will show a home somewhat different from what your home looks like now, it will let potential buyers know how they’ll be living on warmer days: maybe you have a gorgeous patio or garden that winter photos simply can’t do much justice, but that will appeal to potential buyers.

2. Don’t forget about curb appeal, even in the winter months.

Most winters, it would be easy to recommend that you simply ensure your driveway and any walkways are thoroughly plowed, de-iced and cleared all winter long – a beautiful blanket of snow does the rest by giving your yard that clean yet soft appearance. This winter though, most front and back yards are looking dreadful thanks to a lack of snow and a combination of dormant gardens and brown grass. You can still do your best by parking your cars in your garage, removing any dead branches or leaves from your property and by putting out a new, clean welcome mat.

3. De-personalize as usual.

When staging a home for sale, always de-clutter and de-personalize as usual by putting as many of your personal effects as possible into storage or away and out of sight. This time of year, that includes holiday decorations.

4. Make your home bright and sunny.

Winter is dark, but you can brighten and warm up your interior by having your windows professionally cleaned to maximize indoor sunlight and replace your current light bulbs with higher-wattage ones. Turn on all of your lights before a showing – it’s not the most energy-efficient way to show a home, but it may pay off in the end.

Want more home staging tips? Consider our Room-by-Room home staging review for your Toronto home.

Tips For Selling Your House During The Winter Months is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

According to the latest information from the Canadian Real Estate Association, Canada-wide, real estate markets will head into 2012 while slightly balanced, but will lean slightly towards being seller’s markets.

Post-2011 holidays, the Canadian real estate market will slightly favour sellers.

According to Gary Morse, the president of the Canadian Real Estate Association:

“The Canadian housing market is proving resilient in the face of ongoing global economic and financial uncertainty, to the benefit of Canadian economic growth. That said, some housing markets are picking up, while others are holding steady or consolidating.”

Last year, sales activity increased just before the end of the year. And this year, we’re seeing the same thing albeit slightly smaller.

According to Gregory Klump, the chief economist for the Canadian Real Estate Association:

“With interest rates expected to remain low for longer, the housing sector will no doubt be closely watched for signs of excess. That said, current trends for resale housing and new home constructions suggest that tightened mortgage regulations are working as intended and fostering economic stability in Canada.”

If you’re planning on selling your home early next year or in the coming months, now is the time to speak to a Toronto real estate agent.

Canadian Real Estate Market Will Favour Sellers Heading Into 2012 is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

In Toronto, detached homes can be very highly sought-after in certain neighbourhoods. It’s no surprise that when a detached home is on the market, it is clearly listed as being a detached home.

When are detached homes in Toronto not technically detached?

Toronto Real Estate Lawyer Bob Aaron has taken a look at link-semi homes in his latest column. Link-semi homes look completely detached from the street, but technically are not fully detached homes because of a concrete attachment below the ground.

According to Mr. Aaron, these concrete attachments are no more than a couple concrete blocks that merely exist and serve no purpose, and builders only put them there when they built two detached homes on a lot meant for semi-detached homes. Most of these homes were built in the 1970s and 1980s.

In fact, one could easily dig them up and remove them. But in one case several years ago, an agent got into trouble by listing such a house as detached.

“Prior to closing, neither the listing agent nor the buyer’s agent disclosed that the property was a link house, although it could easily have been verified by calling the city’s zoning department or reviewing the R-plan. Had the buyers seen the plan, they would have noticed the dotted lines indicating that the foundations were connected.
More than 18 months later, the buyers complained to RECO about the listing agent, saying that the house was misrepresented as being detached, and that had they known it was technically a link house, their purchase decision might have been affected. (Hindsight is always 20-20.)”

To read the rest of the column, visit Mr. Aaron’s website here.

Toronto Real Estate Lawyer Bob Aaron: Not All Detached Homes Are As They Appear is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

Well, 2011 is almost at an end, and with that comes the 2012 REMAX Housing Market Outlook. The report contains predictions for the 2012 Housing Market, as well as highlights from the 2011 Housing Market, including that home sales is expected to be 90,500 units, which is five per cent over last year and the resulting in the second-best year on record.

“Greater Toronto’s residential real estate market continued to make headlines in 2011, defying expectations and posting an increase in both sales and average price… strong demand and limited supply set the stage for a year of multiple offers – with sellers firmly in the driver’s seat – from entry-level housing to the upper-end of the market,” said the report.

Click the link to the left to read through the REMAX 2012 Housing Market Outlook.

“Demand was especially brisk for resale condominiums located in the downtown core, where bidding wars were commonplace,” continued the report. “Blue-chip neighbourhoods in Toronto proper – the Beach, Riversale, Bloor West Village, High Park, Leaside, Lytton Park, Cricket Club and Allenby – saw tremendous activity.”

“The upper-end – the coveted Rosedale, Forest Hill, Lawrence Park, Hogg’s Hollow, Bridle Path, Kingsway, Lorne Park, and Oakville areas – soared, with sales of homes priced in excess of $1.5 million up approximately 32 per cent over one year ago.”
For 2012, home sales in Toronto are expected to hit 93,000, which is similar to 2007, and low interest rates will help boost home buying into 2012.

Read the REMAX 2012 Housing Market Outlook Report here.

REMAX Report: 2011 Toronto Real Estate Market “Defied Expectations” is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

A very recent survey conducted on behalf of the Ontario Real Estate Association has found that few home buyers or home sellers in Ontario realize the full extent of the services their real estate agent is able to provide. Real estate agents might surprise you with some of the different aspects of home buying, home selling and home ownership that are covered in their education.

Don't hesitate to ask your Toronto real estate agent any questions you may have.

For example, only six per cent of those surveyed were aware that their real estate agent has been educated in family law matters pertaining to home ownership, and only 10 per cent realized their real estate agent was trained in environmental issues. In addition, only half of those surveyed realized their real estate agent undergoes continuing education, and only 70 per cent knew about the code of ethics that real estate agents have to abide by.

The Ontario Real Estate Association recommends asking your real estate agent questions that are specific to your situation and not hesitating – they should be able to answer them. Situation-specific questions can include questions about needing a spouse’s approval to sell if a divorce may be on the horizon, whether a permit is needed to cut down trees on the property or what can legally be done with a parent’s home if they are in a care facility.

In addition to questions specific to your own situation, there are plenty of other questions you should feel free to ask your real estate agent according to OREA, including:

• How long have you been in the business?
• How will your marketing plan meet my needs?
• What separates you from your competition?
• What haven’t I asked you that I need to know?

What Does A Toronto Real Estate Agent Bring To The Table? is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

Properly winterizing your home will make it much more comfortable during the coming months, as well as prevent the likelihood of you having to fix something in the cold or the dark. Follow this checklist for quick fall maintenance on your home:

Outside your house

Inspect the roof, gutters and siding. This is easy to do, just give your roof and gutters a quick once over visually. Look for any missing or broken shingles, and replace them if necessary. Make sure your flashing and gutters are secure and intact, and clean out gutters that are full of debris or leaves – this can prevent basement flooding and water damage. Your siding can be vulnerable to cracks, which will leak. These can easily be fixed with caulking.

Seal your windows and doors with weather stripping, and use a sealant to seal any large cracks in driveways and walkways.

Replace lightbulbs and repair any outdoor lighting that requires it now, so that you’re not having to do it on a cold, dark winter’s night.

Close your pool for the season, and shut off outdoor water taps. Be sure to fully drain any garden hoses before storing them for the winter.

Cover your external central air conditioner unit to keep it clean and safe this winter.

Landscaping

Your landscaping needs a little extra care before winter hits in order to survive the winter and come back properly next spring.

Prune any tree limbs that are too close to your home so they don’t fly through a window during a storm.

Wrap plants such as bushes, trees, saplings and rose bushes with burlap screen to keep them protected over the winter.

Add soil and mulch to your garden beds, turning the soil and incorporating the nutrients from these additions to create a nutrient-dense soil for your plants in the spring.

Remove any weeds from your garden to cut down on the amount that will be present in the spring, and now is the time to plant your spring bulbs (tulips) and perennials.

Bring any of your potted plants indoors to make sure they survive the winter, or you’ll have to replant your pots next spring.

Inside your house

Check your basement and foundation for any leaks and ensure they are repaired quickly to avoid a flood.

Have your heating system and chimney inspected by a professional to make sure they are ready to go this winter. The chimney should be clean and free of creosote, and the furnace filters should be replaced every other month in the winter.

Stock up on snow shovels, kitty litter and rock salt to keep your driveway and walkway safe to tread on during icy days.

Check for drafts around your windows and ensure you seal them from the inside with extra caulking if needed.

Toronto Real Estate: Fall Maintenance For Your Home is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale