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2200+ sq feet of Super Luxury Living in The Heart of the Financial District!
座落于金融中心约2300尺的最豪華酒店式公寓
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Remax Housing Market Outlook 2011
Luxury Condos - New, Pre-construction, Assignment
Toronto New Luxury Condos
Toronto Luxury New & Pre-Construction Condos
Development
Bedrooms
Size (sf)
Price
Additional Info
Four Seasons
2+Den
2,466 - 5,444
$4,603,000 - $10,950,000
Imperial Plaza
Penthouse
2,230 - 3,155
$2,205,000 - $3,580,000
Trump International Hotel & Tower
2
1,861 - 3,275
$3,035,000 - $5,640,000
Trump International Hotel & Tower
3<
4,225 - 4,532
$4,800,000 - $5,500,000
Ritz-Carlton
2+Den
2,525 - 2,557
$2,595,000 - $3,015,000
Shangri-La
2+Den
1,746 - 3,319
$1,881,500 - $4,525,500
Aura @ College Park
Penthouse
2,335 - 11,370
$2,237,600 - $17,500,000
For other Developments or Assignments
Are You Protected Against Fraud?
Real Estate and Mortgage Fraud
What is Real Estate Fraud?
In recent years, fraud has become a problem of increasing significance for all parties involved in real estate transactions. Not only are individuals perpetrating these crimes, an ever growing number of organized fraud rings is emerging, presenting an even greater threat to the real estate community.
Crooks can easily access information Perhaps the most significant development in the real estate field in the last decade has been the phenomenal growth in mortgage and real estate fraud. Published estimates show that fraud is costing lenders, insurers, governments and members of the public millions, if not billions, of dollars in losses across Canada and the United States.
Real estate fraud is a broad term used to describe the different types of fraud that the real estate industry faces.
Mortgage fraud
Mortgage fraud is a type of real estate fraud that most often hurts the financial institutions that lend money for purchasing property. The most common form of mortgage fraud involves fraudsters acquiring property and then artificially increasing the property’s value through a series of sales and resales between the fraudster and someone in cooperation with them. A mortgage is then secured on the property based on the price that has been artificially inflated.
Title fraud
Title fraud is a different type of real estate fraud that most often hurts individual homeowners. In comparison to the more than two million real estate transactions that occur each year in the province, there are a limited number of cases of title fraud. The most common forms of title fraud involve fraudsters using stolen identities or forged documents to transfer a registered owner’s title to himself or herself without the registered owner’s knowledge. The fraudster then obtains a mortgage on this property and once the funds are advanced on the mortgage, he or she disappears. This type of fraud is also sometimes referred to as “mortgage fraud.”
Protect your property by protecting your identity
Ontario’s land registration system has a proven track record for security, accuracy and efficiency. Property owners in this province can trust in a constantly improving system that has introduced automation, electronic registration and enhanced security to land registration. The system is built on 200 years of legal and regulatory best practices, using the best technology currently available.
However, in any system, it is impossible to completely avoid fraud. Ontario homeowners can take an active role in protecting their property by protecting themselves from identity thieves. Fraudsters have been known to impersonate the owner of a property by obtaining false identification and then transferring property that does not belong to them. To help avoid this situation:
Always store personal information, including your birth certificate, Social Insurance Number card, bank account numbers and credit card details, in a secure place that others cannot access.
Never carry your birth certificate or SIN card in your wallet.
Shred documents, such as credit card statements, before you discard them.
Never reply to spam or e-mails that ask for banking information, credit card details, passwords or other sensitive information involving property you own.
Check references from prospective renters if you are renting your property and be sure to check on your rental property regularly.
Be alert to identity theft
Pay attention to the following in order to detect fraud early:
Tax statements or bills are unexpectedly mailed to your home, addressed to a different individual.
You receive a phone call from a caller inquiring about a new mortgage that has already been arranged for your property.
Bills do not arrive as expected.
Creditors contact you regarding purchases you did not make.
There are discrepancies in your bank or credit card statements.
Power of attorney
Another way in which you can protect yourself is by being cautious when granting power of attorney. Whenever you give another person a power of attorney that permits them to deal with your personal assets, you should consult with your lawyers or advisers regarding appropriate limitations.
Title insurance
Consumers can also talk to their lawyers and advisers about alternative methods of protection, including the benefits of purchasing title insurance.
Being a victim
When an inocent victim is the target of fraud, there are many items that they will have to deal with before they can return their life to normal or clear their name:
Repair their credit rating;
Reclaim their identity in the cases of identity fraud;
Incur the cost to defend their ownership of the property, involving a lengthy court battle;
Mental distress;
Possibility of losing their home altogether;
Economic loss
If you have any questions or concerns with real estate or the above material, please contact Zee Zdravko Dimov by email. Click here
Residential values expected to climb further in 2011
as housing sales stabilize in most major centres, says RE/MAX
Although improved economic fundamentals will have a positive impact on Canadian housing markets moving forward, the forecast for residential real estate sales remains static in most major centres in 2011, according to a report released by RE/MAX.
The RE/MAX Housing Market Outlook 2011, examining trends and developments in 26 major centres across the country, found that home-buying activity in 2010 fell short of 2009 levels. Housing values, however, continued to climb, with virtually all areas reporting an upswing in average price, ranging from just under one per cent to 15 per cent this year. Lower inventory levels in many markets offset the effects of diminished demand, propping-up price in almost every instance. Kitchener-Waterloo, Quebec City, and St. John’s saw the greatest increases in average price this year, while Eastern Canadian markets including Hamilton-Burlington, Sudbury, Windsor, Moncton and Prince Edward Island were the only markets that bucked the downward trending in home sales in 2010.
By year-end, approximately 441,000 homes are expected to change hands nationally, a five per cent decline from the 465,251 sales reported in 2009. Housing values are forecast to continue to climb, up an estimated seven per cent to $340,000, compared with $320,333 one year earlier.
In terms of resale housing activity, what many are talking about as the new normal is actually a return to the traditional real estate cycle. The past decade was truly unprecedented—never before have we experienced a run up that was as strong or lasted as long. As we have digressed from the typical pattern, people have forgotten what the usual healthy cycle looks like, but all the hallmarks are there. Ample inventory levels, steady demand, and moderate growth, both in terms of sales and prices, will characterize the market in 2011. While the pace may appear lackluster in comparison to what we’ve grown accustomed to, it underscores the principles of real estate 101: The market is cyclical. All boats rise and fall with the tide.
Greater stability is expected to characterize the markets in 2011, with Canadian housing sales predicted to mirror 2010 levels at 441,000 next year, while average price is forecast to escalate three per cent to $350,000 by year-end 2011.
Looking forward, we see steady improvement in provincial and local economies—which will bode well for housing markets across the board. The relentless drive in the market reminiscent of years past will be gone and instead, we can expect to see more normal, balanced market conditions, with buyers maintaining a slight edge.
Markets in British Columbia are forecast to lead the country in terms of percentage increases in sales activity next year, with Greater Vancouver expected to climb 10 per cent, followed by Victoria at eight per cent and Kelowna at six per cent. After a prolonged period of economic hardship, Windsor is once again on track for growth, with residential home sales predicted to climb five per cent.
Almost all markets are reporting an anticipated increase in housing values next year, with St. John’s in Newfoundland-Labrador in front with an estimated eight per cent hike in average price in 2011. The value of homes in Greater Vancouver, Kelowna, Regina, Saskatoon, London-St. Thomas, Ottawa, Sudbury and Greater Montreal is also predicted to climb five per cent.
Low interest rates and improving consumer confidence levels should stimulate home-buying activity at all price points next year. Overall gains will be more muted—a welcome reprieve for purchasers. 2011 will be a year that will see more widespread recovery across a broader array of economic sectors, setting the stage for a better 2012.”
In the meantime, a number of factors will continue to support sustained sales and price growth in the months and years ahead:
Land scarcity, intensification, urban renewal, infill and renovation will continue to drive up values—regardless of supply and demand—in major metropolitan areas. The Canadian housing stock is ever-evolving, particularly in the central core of each city. With average price pushing closer to or well past the $300,000 mark in the vast majority of major centres, and affordability of single-family homes diminishing, the demand for attainable product will rise in tandem, bolstering the growing condominium segment in the years ahead.
The upper-end of the market continues to be a strong indication of the overall health of Canada’s housing sector. Typically the first segment to soften in a downturn, luxury homes posted record sales activity in 2010, and demand is expected to remain solid in 2011. Strong sales in the high-end will continue to prop up average prices.
Immigration will remain a serious force stimulating demand, particularly given the penchant for homeownership among today’s new Canadians. While the formation of new households used to take an average of five years, a growing number of newcomers arrive skilled, financially secure, and ready to make their home-buying moves. It is estimated that Canada will average 250,000 new immigrants annually.
In the year ahead, federal, provincial and local stimulus in the form of continued infrastructure spending and capital projects will be a considerable boon to economic stability and employment, providing consumers the confidence to move forward with real estate purchases.
Volatility in the money markets will continue to drive buyers to the tangibility of homeownership, both as a reliable long-term investment and a form of shelter, particularly given low vacancy rates and a lack of new rental construction in a number of major centres.
Re/Max Ultimate Realty Inc., Brokerage, Independently Owned & Operated.
Not intended to solicit Sellers or Buyers currently under contract with another broker.
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