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Toronto City Council has approved a municipal land transfer tax that will be levied on top of the provincial land transfer tax.
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Toronto’s bullish real estate market, which has set a series of sales records this year, has grown suddenly more frantic, as buyers (and sellers) try to get their sales completed before the new land-transfer tax takes effect early next year.
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October housing activity confirms consumer confidence in real estate market Resale housing activity substantially outpaced mid-October results from a year ago, Toronto Real Estate Board President Maureen O’Neill announced today.
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Reading the real estate descriptions can be like reading in a foreign language, or worse, overzealous words in real estate advertising can make even a snake pit look attractive. Don't panic. We decode some of the language and abbreviations to put you well on the way to buying the home of your dreams: The most misleading words in real estate (and what they really mean) 1. Cozy (too small)
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In an effort compared to lining up for a Bruce Springsteen concert, about 150 real estate agents, some with lawn chairs, bottled water, sleeping bags and snacks, camped out overnight for a shot at a new Lake Shore Boulevard condominium that won’t even be built until 2010. The first phase of Beyond the Sea, located just west of Park Lawn Road, sold out in just two days last June; it’s likely phase two’s 279 suites will be snapped up quickly. Both towers won’t be ready for another three years.
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A house on the market for $1.295-million has sold for $605,000 over asking, sparking debate on the role of the bidding war in Toronto. Sitting on a 50-foot wide lot on Munro Park Avenue, a leafy street that peeks out on the lake and is arguably the most desirable in the Beach, the four-bedroom home sold for 47% over asking, almost unheard of in even this city's booming real estate market.
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Toronto Real Estate Board President Donald Bentley has announced that he will be stepping down as President of TREB, Effective October 1, 2007 in order to accept a position as Director, Territorial Business Development for RE/MAX Europe.
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When Toronto Real Estate Board president-elect Maureen O'Neill pronounced the city's multiple bidding process as transparent as possible, she likely didn't have Australia's approach in mind.
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July has started swiftly, with 3,947 sales to date, TREB President Donald Bentley announced. This mid-month total is up 21 per cent over last July's 3,251 sales.
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