Barrie Home Inspector

Home Maintenance and Tips for Home Owners

Month: November 2011

Building Basics by Angus Real Estate Agents

Basements, Exterior

Building Basics by Angus Real Estate Agents. If you are building a wall for a home addition, garage or other structure, it is important to be able to read construction drawings to identify all the dimensions for the walls which are given on the floor plan and elevation. The walls are to be laid out the same as on the floor plan, with all measurements followed exactly. The openings for doors and windows must be placed exactly. It is important that the corners be set on the foundation exactly as given on the detail drawing on the foundation plan. Taking measurements from the foundation or floor plan, and transferring those measurements to the foundation, footing or floor slab is the first step in laying out the wall.

Traditional stucco is made of lime, sand, and water. Modern stucco is made of Portland cement, sand, and water. Lime is added to increase the permeability and workability of modern stucco. Sometimes additives such as acrylics and glass fibers are added to improve the structural properties of the plaster. This is usually done with what is considered a one-coat stucco system, as opposed to the traditional three-coat method.  As a building material, stucco is a durable, attractive, and weather-resistant wall covering. It was traditionally used as both an interior and exterior finish applied in one or two thin layers directly over a solid masonry, brick or stone surface. The finish coat usually contained an integral color and was typically textured for appearance.

In the field of human-wildlife conflicts, probably the most common scenario nationwide is the squirrel in the attic.
Most people become aware that an animal is living in their attic when they hear scampering, or scratching noises above the ceiling. A wide variety of animals choose to live in the attics of buildings, from rats and mice, bats and pigeons, raccoon’s, opossums, and of course squirrels. Most of these animals will oftentimes use other areas of the home as well, from the soffits to the wall voids to the space between floors, so the attic is not the only area you’ll find critters.

A plumbing fixture could refer to a receptacle or device that is either permanently or temporarily connected to the water distribution system of the property, and which demands a supply of water.  Or the fixture could discharge waste water, liquid-suspended waste materials or sewage to the drainage system of the property.  The fixture could also require both a water supply connection and a discharge to the drainage system of the property.  Plumbing fixtures include water closets, urinals, bidets, lavatories, sinks, showers, bathtubs and floor drains.

There should be at least 15 inches of space from the center of a water closet, lavatory or bidet to any sidewall, partition, cabinet or any other obstruction. There should be at least 30 inches of space between adjacent fixtures. There should be a space of at least 21 inches in front of the water closet, lavatory or bidet to any wall, fixture or door. This clearance is for comfortable, adequate space for cleaning and use of the fixture.

A septic tank is used to hold wastewater while the wastewater’s solids and liquids separate.  The heavier solids in the wastewater, called sludge, sink to the bottom of the tank.  There it will slowly decompose.  A properly functioning septic tank will remove 75% of the suspended solids, oil and grease from the effluent.  The lighter, floatable material, called scum, rises to the surface and becomes trapped between devices at the tank’s inlet and outlet, either baffles or sanitary tees.  When wastewater enters the tank, it pushes relatively clean effluent, called “the clear zone” that located in the settling area between the scum and the sludge layers, out of the tank.

The Best Barrie Home Inspector provides visial and Thermal Imaging inspections of all major components of your home.  A small investment considering the expense of buying property.  Visit <a href=”http://www.barrie-home-inspector.com”>The Best Barrie Home Inspector’s Site</a> to arrange an inspection.

Innisfil Real Estate Agents – Terms and Info

Personal Interest, Real Estate

Innisfil Real Estate Agents – Terms and Info.  The common definition for a real estate broker, real estate agent or realtor is a party who acts as a go between for sellers and buyers of real  property and attempts to find clients who wish to sell and buyers who wish to buy. In the Canada and the United States, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients.

Many of the newer Real Estate agents are linking up with agents in other provinces or even other countries to obtain referrals to new clients. The internet has allowed potential clients to contact agents in their prospective purchase area without leaving the house. Globalization has had an immediate and powerful impact on real estate markets, making them an international working place. The rapid growth of the Internet has made the international market accessible to millions of consumers. A look at recent changes in homeownership rates illustrates this. Minority homeownership jumped by 4.4 million during the 1990s, reaching 12.5 million in 2000, according to the Fannie Mae Foundation. Foreign direct investment in U.S. real estate has increased sharply from $38 billion in 1997 more than $50 billion in 2002 according to U.S. 2000 Census data.

Flat Fee MLS generally refers to the practice in the real estate industry of a seller entering into an ” la carte service agreement” with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction. The buyer’s broker is still typically offered a percentage though that could be a flat fee as well. A Flat Fee MLS brokerage typically unbundles the services a traditional real estate brokerage offers and lists the property for sale in the local Multiple Listing Service (MLS)  la carte without requiring the seller to use its services for valuation assistance, negotiating, transaction management and showing accompaniment.

 

The listing Real Estate agent or broker  anticipates receiving a commission for the services the agent has provided at the conclusion of selling the listed property. Usually, the payment of a commission to the agent or brokerage is contingent upon finding a sucessful buyer for the real estate listed, the successful negotiation of a purchase contract between a satisfactory buyer and seller, or the settlement of the transaction and the exchange of money between buyer and seller.

When listing a property the seller agrees to a selling commission.  This commission used to be set around 6% of the purchase price, which was typically paid by the seller of the property.  There are newer Real Estate companies that are advertising discount commission fees for selling properties.  These are typically not full service companies but usually will offer full service for an added fee.

Controversy exists around how commissions paid to real estate agents are disclosed to buyers and the effect additional seller incentives may have on the negotiation process and final purchase price. If a listing agent sells a property above the listed price, they make additional income. In theory, this motivates them to get top dollar for the seller. However, if an agent representing a buyer obtains a lower sales price for their client, then they make a lower commission. Thus, it could be considered to be in the agent’s best interest to advise his client to purchase the property at a higher price

In a flat fee MLS listing, the listing agreement between the real estate broker and the property owner typically requires the broker to enter the property into the MLS and provide other contracted services, with the broker acting as what the traditional industry has coined a “limited service broker”. However, the flat fee industry prefers the term  la carte broker because the services are not limited. Instead freedom of choice is expanded to allow sellers to pick from a menu of services. For example if a seller opts to purchase marketing in MLS, Realtor.com and other distribution channels only, that does not imply that the listing broker would not have negotiated or offered more services if the seller wanted to pay for those services. In fact many flat fee brokers offer upgraded packages that sellers often contract for. Consequently, the services is not limited but instead custom crafted to the needs and wants of the seller.

Title Insurance is now replacing searches in the Land Registry Office. Title insurance originated in the US. The Law Society of Upper Canada, the group that regulates and oversees lawyers in Ontario, spent a long time looking into the implications of title insurance on the law profession. At the end of the day, they decided the best thing to do was to get into the business themselves and are offering their own package called Title Plus. Some lawyers in Orillia believe that soon you won’t need a lawyer (or a surveyor) to close a real estate transaction. Are they worried? Not really, with insurance companies paying for litigation, the extra court cases will more than make up for the lost business. Many people too want a real survey so they can see exactly what they’re buying, so the survey business won’t die.  The real winner here is the consumer, which is why many observers expect title insurance to quickly become the norm, especially now that the Law Society is backing it.

When buying property in the Alliston Ontario area choose your agent from the www.innisfilrealestateagents.info site to get a professional agent who will provide you with personalized service and ensure your buying or selling experience is a pleasant experience with no surprises.

Real Estate in Orillia

Personal Interest, Real Estate

Real Estate in Orillia. In Canada and the US,  real estate broker, real estate agent or realtor is a party who acts as an intermediary between sellers and buyers of real estate and endeavors to find property sellers who wish to sell and buyers who wish to buy. In the Canada, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients.

The Real Estate market has broadened widely with the advent of new technology. Globalization has had an immediate and powerful impact on real estate markets, making them an international working place. The rapid growth of the Internet has made the international market accessible to millions of consumers. A look at recent changes in homeownership rates illustrates this. Minority homeownership jumped by 4.4 million during the 1990s, reaching 12.5 million in 2000, according to the Fannie Mae Foundation. Foreign direct investment in U.S. real estate has increased sharply from $38 billion in 1997 more than $50 billion in 2002 according to U.S. 2000 Census data.

In consideration of the brokerage successfully finding a satisfactory buyer for the property, a broker anticipates receiving a commission for the services the brokerage has provided. Usually, the payment of a commission to the brokerage is contingent upon finding a satisfactory buyer for the real estate for sale, the successful negotiation of a purchase contract between a satisfactory buyer and seller, or the settlement of the transaction and the exchange of money between buyer and seller.

The median real estate commission charged to the seller by the listing (seller’s) agent is 6% of the purchase price. Typically, this commission is split evenly between the seller’s and buyer’s agents, with the buyer’s agent generally receiving a commission of 3% of the purchase price of the home sold.
In North America commissions on real estate transactions are negotiable. Local real estate sales activity usually dictates the amount of commission agreed to. Real estate commission is typically paid by the seller at the closing of the transaction as detailed in the listing agreement.

Flat Fee MLS generally refers to the practice in the real estate industry of a seller entering into an ” la carte service agreement” with a real estate broker who accepts a flat fee rather than a percentage of the sale price for the listing side of the transaction. The buyer’s broker is still typically offered a percentage though that could be a flat fee as well. A Flat Fee MLS brokerage typically unbundles the services a traditional real estate brokerage offers and lists the property for sale in the local Multiple Listing Service (MLS)  la carte without requiring the seller to use its services for valuation assistance, negotiating, transaction management and showing accompaniment.

 

Title Insurance has become a product that has changed the way property is transferred in Canada.  Title is at the very heart of every real estate transaction. A purchaser needs proof that the property being bought is free and clear of liens, that the seller really owns it, and can sell it. To do this the buyer must “search title”. This can be a long, complicated process. Lawyers (or their assistants) sometimes spend hours at the registry office going through books and then checking with various authorities for liens etc. Often, they have to search back 40 years before they can give their “opinion of title”, which is still not a guarantee – just an opinion.

 

Home inspection in Canada requires the services of a qualified and experienced professional. When selecting a Canadian home inspector cost should not be the only determining factor. It is vital that you know as much about a property as possible before you make the commitment to purchase it, so be sure to choose a home inspector that can perform a reliable inspection service.  I would always recommend using the home inspector who places first in Google rankings for the area you are looking to purchase.  Being first in Google is a good indication that he is a professional and will be the “go to person” in that area.

 

When buying property in the Innisfil Ontario area choose your agent from the www.innisfilrealestateagents.info site to get a professional agent who will provide you with personalized service and ensure your buying or selling experience is a pleasant experience with no surprises.

Angus Real Estate Agent – Hugh Hardy

Personal Interest, Real Estate

Angus Real Estate Agent – Hugh Hardy.  Hugh is a Realtor with Angus Re/Max and has been there for most of his career.

Let me tell you a little bit about me and the way I work. I have been selling real estate since 1988 and I am an Broker at RE/MAX Chay Realty Inc., Brokerage in Borden/Angus, Ontario. Prior to ’88 I worked as a broadcast engineer at CBC radio – after completing an Honours B.A. at the University of Toronto as well as a Music Industry Arts/Recording Engineering Diploma at Fanshawe College in London, Ontario.

As you can see, real estate is a second career for me – and perhaps it is this added perspective that has shaped my attitude to be somewhat different. I try to operate less like the stereotypical salesperson and more like a business professional. My goal is to serve the needs of my clients in the best, most professional, and ethical manner possible. The only way that I “push” is by pushing myself to work harder and perform better. My clients tell me that I am never pushy or “salesy”. I feel that this philosophy has paid off over the years – and the job is more fun to do as well!

Hugh Hardy has been a Professional Real Estate agent for 30 plus years.   Hugh used to write columns in the local Angus News paper on Real Estate tips.  This was before cell phones and the internet were even thought of.  Hugh Hardy joined the Re/Max Chay real estate team when they first came to Angus.

Hugh has been helping Military members move for years and is the resident expert when it comes to providing the service military members need.   Hugh has many testimonials from satisfied military members such as:  “Transferred into or out of Borden, Barrie or Angus? If you need expert and honest real estate advice call Hugh today. I have referred Hugh a number of times over the years and he has always come through for my clients in a very big way. He is particularly tuned into the federal government relocation program. Call Hugh today – he won’t disappoint!”

Even other Real Estate agents value Hugh’s experience and knowledge, such as the testimonial by John Price….“Over the 21 plus years that I have serviced the Kingston Military, there has always been one real estate agent in the Barrie region that has earn my highest respect for hard work and professional service to his Clients.  If you are transferring the Barrie region, I urge you to call Hugh. You will be glad you did. Heck tell him John Price sent you.”

These are just some of the testimonials Hugh Hardy has collected over the years as a Professional Real estate agent serving the Angus-Borden area.   Customer Service is the keystone of Hugh’s relationship with his clients and that in turn has made him one of the best known agents in the area.   Hugh prefers the one on one client approach without the rush of using assistants and helpers to look after his clients.

If you are looking for a knowledgeable Real Estate Broker in the Angus, Borden real estate market,  Hugh Hardy is the agent that won’t disappoint you.   Call Hugh today and get some personalized customer service.

Contact Hugh Hardy at:
RE/MAX CHAY REALTY INC., BROKERAGE
BORDEN/ANGUS
2 Summerset Place, Angus, Ontario L0M 1B2
1-705-424-7200
Toll Free: 1-800-383-3980

Communication in the 20th Century

Personal Interest, Real Estate

Communication in the 20th Century.  Communication begins for all of us when we are too young to speak but convey our messages by facial expressions.  This method is known as pre-verbal communication.

Language it the vehicle which allows people to communicated their thoughts and ideas to other people and through print to save those ideas and not only share them with their contemporaries but to pass them down to the generations to come.

In the early 1800’s the electric telegraph made long distance communication possible.  In the 1870’s the telephone was also developed making communication in local areas possible which then spread to connect larger area and eventually the world.

Fewer than five years after its introduction, over 47,000 telephones were being used in the United States. The growth of these communications media accelerated the pace of social interaction, migration, commerce, and government activities.

In the 20th century the radio was invented and this allow an increased mobility for communications, such as ship to ship and police department broadcasts.  When the vacuum tube was invented radio then became capable of international communications.

Use of electronic surveillance for legitimate purposes such as intelligence and law enforcement investigation, as well as for illegitimate purposes, spurred enactment of a number of laws intended to comprehensively address such activities. Congress enacted the first federal wiretap statute as a temporary measure to prevent disclosure of domestic telephone or telegraph communications during the First World War.

Satellite communication became a reality in 1962 with the launch of the first communications satellite into space.  It was the first satellite to receive, amplify, and simultaneously re-transmit signals from earth. The development of satellite communications allowed greater volumes of communications worldwide.

The Internet is a globally distributed network comprising many voluntarily interconnected autonomous networks. It operates without a central governing body. However, to maintain interoperability, all technical and policy aspects of the underlying core infrastructure and the principal name spaces are administered by the Internet Corporation for Assigned Names and Numbers (ICANN), headquartered in Marina del Rey, California. ICANN is the authority that coordinates the assignment of unique identifiers for use on the Internet, including domain names, Internet Protocol (IP) addresses, application port numbers in the transport protocols, and many other parameters

Baby Boomers – Investing In Real Estate

Personal Interest, Real Estate

Baby Boomers – Investing In Real Estate. According to a CBC poll, ” 53 percent of boomers polled said they do not feel confident they’ll be able to afford a comfortable retirement. That’s up from 44 percent who were concerned about retirement finances in March.”

Did you know, the longer you live, the more you’ll benefit from delaying the start of your Social Security checks. Although you can start receiving checks as early as age 62, the amount of your checks increases the longer you wait, up until age 70. An analysis by T. Rowe Price financial planner Christine Fahlund found that if you expect to live until at least 80, you’d be better off waiting until after age 65 to start drawing benefits.

Financial planners used to routinely create retirement plans that stopped at age 85, because the chances seemed pretty good their clients would be dead by then. (The average life expectancy at age 65 is 10.3 years for men, 12.4 years for women.) But averages don’t tell the tale. You may be in better health than the average Joe or Jane, take better care of yourself or have better genes. Even if you don’t, your spouse might; Fidelity Investments has found that the chances of one member of a couple living past 90 are about 50%.

Immediate annuities offer a similar pitfall. They’re great in concept — a way to lock in a lifetime stream of income in return for a lump-sum payment to an insurance company. The problem is that the payments you get typically reflect the prevailing interest rates at the time you purchase the annuity. If you buy an immediate annuity now, you could be locking in rates that are still near record lows.

What boomers think retirement will be like and what it actually is like are two very different things. A case in point: The forever young generation just can’t deal with the idea of growing old. Only 13% of pre-retirees (people over 50 who have not yet retired) think their health will be significantly worse in retirement than it is now, while 39% of retirees report that it actually is worse, according to 2011 research by the Robert Wood Johnson Foundation and the Harvard School of Public Health.

Boomers are untying the knot at a record pace. The divorce rate for people over 50 has doubled in the past 20 years, says the National Center for Family and Marriage Research at Bowling Green State University, compared to a slight decrease in divorce overall. More than 300,000 couples over 50 divorced in 2008, and if the rate continues to grow at current levels that number will jump to more than 400,000 in 2030. What’s fueling this trend? Empty nesters who find they are a lot less compatible when the kids aren’t around is one reason, says Toronto-based psychologist Tami Kulbatski.

Masonry Block – Building Tips

Basements, Exterior

Masonry Block – Building Tips. Every block wall-regardless of height or length-should be placed on a secure footing of poured concrete. A block barbecue grill or outdoor fireplace requires a large concrete pad as a footing. The footing must extend down beyond the frost line to prevent heaving in the winter.

For a footing poured in an area where drainage is a problem, lay a drain line along the outer edge of the form. Allow for a drop of about 1″ for each 20′ of drain line. Backfill over the drain line with about 12″ of crushed stone or gravel. In Ontario this is mandatory and must be installed for any building of 100 square feet in size.

Building exact corners is the most important construction of a masonry wall as corners will guide the building of the rest of the wall. A corner pole will make the job easier. A corner pole is any type of post which can be braced into a true vertical position and which will hold a taut mason’s line without bending. Two such poles are set up, one on each corner, with the mason’s line stretched between them. Corner poles for block walls should be marked every 4 to 8 inches, depending on how high the material is with which you are building the wall. Such marks must be absolutely level when the mason’s line is stretched between them.

Set the corner block first. Be sure you are using the correct block. Check the starting corner block, both horizontally and vertically, and take time to get it positioned correctly. All other blocks will align with this starter block, so it’s very important to set it exactly. Follow this same procedure as you reach the other corners, laying the first course out about two or three blocks in each direction. Tie a line between two bricks and stretch it between the two corner blocks on the first course.

Corners and lead blocks are generally built 4-6 rows high, with each course being stepped back one block from the course below, creating a pyramid effect. The wall alignment, plumb and level should be checked on these corners before completing the wall. If everything checks out fine, it is now time to fill in each course between the corners.

Because they can be adjusted in size slightly, mortar joints provide some layout flexibility. While the ideal mortar joint is 3⁄8 inch wide, masons routinely shrink joints to as small as 1⁄4 inch or stretch them to as large as1⁄2 inch. Joints that fall out- side this range are unsightly and, with a few small exceptions, prohibited by most building codes.

The Barrie Home Inspector uses his training to ensure every building inspected meets or exceeds the required building code practices. As a Certified Building Code Official he is one of the few Barrie Home Inspector’s with Ontario Building Code training in both Part 9 and Part 3 of the Building Code.

Hardwood Flooring Tips

Real Estate

Hardwood Flooring Tips. Installing a hardwood floor is a great way to enhance a room and increase the value of your home. Wood flooring is also one of the easiest types of floors to install, and you can install it with tools you’re familiar with: drills, saws, and hammers.

Many different species of wood are fabricated into wood flooring in two primary forms: plank and parquet. Hardwoods are typically much more durable than softwoods.

Solid wood products, on average, have a substantially, or slightly, thicker ‘sandable surface’, and can be installed using nails. Lastly, solid wood tends to be less expensive than engineered wood, but this, as with the thickness of the ‘sandable surface,’ depends on the quality of the engineered wood (most inexpensive engineered wood products are ‘veneer’ wood floors, and not ‘engineered’).

It is difficult to compare in generalities solid wood floor to engineered wood floors, as there is a wide range of engineered wood floor qualities. Engineered floors typically are pre-finished more often than solid wood floors, and usually are supplied with beveled edges, affecting the appearance.

Engineered wood flooring has several benefits over solid wood, beyond dimensional stability and universal use. Patented installation systems (such as “unilin” or “fiboloc”) allow for faster installation and easy replacement of boards. Engineered wood also allows a
‘floating’ installation (where the planks are not fastened to the floor below or to each other), further increasing ease of repair and reducing installation time.

Cork Flooring is a flooring material manufactured from the by-product of the cork oak tree. Cork floors are considered to be eco-friendly since the cork oak tree bark is stripped every nine to ten years and doesn’t damage the tree. Cork flooring comes in both tiles and planks, and can have glue or glues-less installation.

Pick the longest, most visible wall to start your installation. Start by laying down a chalk line 1/2″ from the wall and extent it the full length. This is where your first row of flooring will go.  Remember for maximum performance strip flooring must be nailed down at opposite directions to the floor joists. The Barrie Home inspector uses his knowledge on flooring types and systems to provide you with a comprehensive report detailing your new homes information in a clear and concise manner.  Whether buying or selling a home in the Barrie, Alliston or Orillia area, ensure your Peace of Mind by contacting the Barrie Home Inspector.

Canadian home sales edge higher in October

Real Estate

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.

Further information can be found at http://www.crea.ca/public/news_stats/media.htm.

CREA Welcomes Decision of Competition Tribunal

Real Estate

CREA Welcomes Decision of Competition Tribunal.   Ottawa, ON, November 3, 2011 – The President of the Canadian Real Estate Association (CREA), Gary Morse, today welcomed the decision of the Competition Tribunal to grant CREA leave to intervene in the proceedings the Commissioner of Competition has brought against the Toronto Real Estate Board (TREB).

“We are pleased that the Tribunal is willing to hear our position in this matter and look forward to contributing to the Tribunal on important issues that will affect not only TREB and its members, but will also have broader implications for other Boards and Associations,” said Morse.

CREA had applied for leave to intervene August 31, 2011, and the Tribunal heard arguments on the application on October 18, 2011.  The Commissioner of Competition had opposed CREA’s application. All documents related to the case can be found on the Tribunal’s website at www.ct-tc.gc.ca.

“The important issues under discussion may lead to a Tribunal Order affecting data sharing over the Internet which directly affects the interests of all CREA members,” continued Morse. “It is important for us, and our members, to be at the table and part of this discussion.”

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.

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