It's a very different Market out there today, as we come down from the surreal speed we have been experiencing over the last year. We are thrilled for the quick sale of our latest listing at 33 Hollingham Road! Congratulations Enzo and Sharon!
It's been a busy week - Congratulations to Brian and Jen on their purchase of their fabulous new home in Collingwood. Thrilled for this exciting lifestyle change, and know they will love the new surroundings.
We are actively working with developers and builders looking for great opportunities throughout Unionville and Markham village. If you are considering a move, but don't want to renovate or update first - this could be the opportunity you have been waiting for. Contact us for more information, and a no-obligation review of your home!
Proof that the Market is still on fire... Another multiple-offer evening for the sale of 72 Longwater Chase in Unionville, with a spectacular $277,000 over asking price! Congratulations!
If you sold your principal residence in 2016, you need to be aware of new reporting requirements on this years Tax Returns. On October 3rd, 2016, the CRA changed the reporting requirements when selling your home. The intention of this new requirement, is to better track home-sales for capital gains purposes, especially when dealing with non-resident sales, home 'flippers' and renovators, tracking unreported GST/HST on new home sales, and unreported worldwide income.
From the CRA:
"When you sell your principal residence or when you are considered to have sold it, usually you do not have to report the sale on your income tax and benefit return and you do not have to pay tax on any gain from the sale. This is the case if you are eligible for the full income tax exemption (principal residence exemption) because the property was your principal residence for every year you owned it.
Starting with the 2016 tax year, generally due by late April 2017, you will be required to report basic information (date of acquisition, proceeds of disposition and description of the property) on your income tax and benefit return when you sell your principal residence to claim the full principal residence exemption."
Make sure you are informed when filing this years taxes - more details can be found on the Canada Revenue Agency website.
City of Toronto Council has approved changes to the Toronto Land Transfer Tax that mean additional Toronto Land Transfer Tax costs for some home buyers with a closing date on or after March 1, 2017, when it will be harmonized with the provincial LTT.
The following changes to the Toronto Land Transfer Tax were considered and approved by Toronto City Council on February 15, 2017. The changes are effective AS OF MARCH 1, 2017, for real estate transactions closing on or after this date:
- Added an additional LTT of 0.5% of the value of a residential or non-residential property from $250,000 to $400,000 (an additional $750)
- Added an additional LTT of 0.5% of the value of a residential property above $2 million
- Added an additional LTT of 0.5% of the value above $400,000 of a non-residential property
- Increasing the maximum allowed First-Time Home Buyer Rebate to $4,475, up from $3,725
- Amended the first-time home buyer rebate program eligibility rules to restrict rebate eligibility to Canadian citizens or permanent residents of Canada
More details on the Toronto Land Transfer Tax, and an online calculator can be found here.
With so much history in the midst of the growing Unionville community, the details of the proposed York Downs Golf & Country Club redevelopment are of interest to many residents. At the end of January 2017, 'Sixteenth Land Holdings Inc.' the developer group representing the builders for the YDGCC lands, held an information session, presenting their initial proposal details.
Some highlights of the presentation include:
- Total property size = 417 acres, with 311 being available for development, the balance is green space
- Development to be split into 3 stages of "East and West" plans, on each side of the north-to-south green space divide
- Development includes everything from 70' single lots to high and low-rise residential, and a small portion for mixed-use commercial
- Residential Units proposed: West = 1,164, East = 1,257, for a total of 2,421 residential units
- Density of this proposal is approx 19.2 units / hectare - compared to Angus Glen at 16.7/ha, Upper Unionville at 20/ha
- Plan includes 5 'gateway' access points to Kennedy Road and 16th Ave, three of which closely align to some of the existing YDGCC roadways and access
- One transit loop through the community is proposed
- One Elementary school is proposed
For more details on the York Downs development proposal , a PDF of the slideshow presentation is available here.
For Immediate Release
RE/MAX All-Stars Realty Inc. Brokerage | The MAC Team
LOCAL REAL ESTATE PROFESSIONAL RECOGNIZED FOR MILLION-DOLLAR SUCCESSES
Toronto, Ontario, 12/5/16 -- Brad Macdonald with RE/MAX All-Stars Realty Inc., Markham, has earned the Million Dollar Guild (GUILD) Recognition® owned by The Institute for Luxury Home Marketing®. The GUILD recognition is awarded to residential real estate professionals performing in the million-dollar and above market.
In order to earn the recognition, real estate professionals must first earn the prestigious and exclusive Certified Luxury Home Marketing Specialist® (CLHMS) designation and subsequently must provide documentation proving their specialization in the million-dollar and above market.
The Million Dollar Guild® recognizes those residential real estate professionals who have demonstrated their experience and proficiencies in working with the affluent customer. The Institute only awards the recognition to professionals who have provided verified and notarized documentation of performance reflecting sales in the top 10% of their given market and above the million-dollar threshold.
“Real Estate professionals who have earned admittance to The Institute’s Million Dollar Guild® have specific upper-tier market knowledge, understand the unique needs of affluent buyers and sellers and are experts in their respective markets,” said Amanda Hammer, Director of Membership at The Institute. “Whether you’re buying or selling a multi-million dollar property, you can depend upon The Institute’s Million Dollar Guild® members to have the competencies necessary to help you meet your objectives.”
“To have this recognition of my accomplishments in serving Markham is an honor,” said Macdonald. “It has strengthened my commitment to the community and its residents.”
Brad Macdonald and The MAC Team specialize in the greater Markham and Unionville markets, as well as lifestyle properties in The Blue Mountains.
For insights into the current state of the luxury market, contact Brad Macdonald at RE/MAX All-Stars Realty Inc. Brokerage, 905-910-1530 or email firstname.lastname@example.org.
For more information about The Institute for Luxury Home Marketing, the Certified Luxury Home Marketing Specialist® designation, or the Million Dollar Guild Recognition®, visit www.luxuryhomemarketing.com or email email@example.com
The latest RE/MAX Housing Market Update for the GTA has just arrived, and it shows some interesting trends. Highlights include:
- 17% Residential Price Increase year-over-year
- $725,857 Average residential sale price
- 2% Condo Price increase year-over-year
- Strong growth around GTA: Oakville up 25%, Durham Region up 19%, Mississauga up 14%