February 8th 2007:

Jim Adair reports on how Boomers will IMPACT the Demand for housing in Canada. I have had the opportunity to speak with Jim on many an occassion and he is nothing but a bright and insightful person. Anyways, check out his article HERE.

2007 starts off with a BANG in Toronto. Read all about it HERE.

What is Web 2.0 and how does it affect you and your real estate world?

New House Prices level off in December 2006. Read the financial post article HERE.

U.S. luxury homebuilder profits faaaaaaallllllll………

Century 21 2007 KickOff


What an event! I have to say that Century 21 sure knows how to put on an event. Their KickOff Event is an annual conference filled with motivational and insightful speakers. There is also an accompanying trade show as well. For many Realtors this event is a must attend. And so it is for many vendors and suppliers.

RealCash Bancorp was there as well! And boy, were we BUSY! There was lots of questions and inquiries about our company and services. Before I tell all of you a little bit about us I need to do something first…

Congratulations to Debra Jafelice, Sales Representative for Century 21 Today Realty for winning our special draw. Debra won a personal coffee maker from Cuisinart! Congrats Debra!

RealCash provides commission advances to Realtors across Canada. If you or any of your associates are in need of immediate funds, RealCash will purchase your earned commissions from your firm residential re-sale deal and deposit the funds into your bank account. It’s a simple and easy process. And FAST!

If you are wondering why someone would need this type of service just read what some of your associates have to say. You can read their comments by visiting our website at www.RealCashCanada.com and clicking on the Testimonials Link.

Well, that’s all for now!

Keep your eyes on THE BLOG for up to date information on all things pertaining to real estate!

I look forward to helping many of you soon.


Karim Kanji

Century 21 2007 KickOff

I look forward to meeting many of you on Wednesday February 7th 2007. Century 21 is holding their annual KickOff event this Wednesday and RealCash is excited to be participating again. Come visit us at Booth 42. I’ll be there from 8am until 2pm. See you there!

Karim Kanji

CMHC Housing Market Outlook – 1st Quarter 2007

The First Quarter 2007 Housing Market Outlook Analysis has just been released and sent to my email by the good folks from CMHC. To take a look at it click HERE.

Mattamy Homes provides on the job training.

Resale market growth falls for first time in five years. Read article HERE. However, resale market should grow over 16% by 2010. Read this article HERE. And while you’re reading the new HighRise Condo market continues to sell at record levels. So Read HERE.

Confused yet? Excited? Depressed? Want more? Read Bob Finnigan’s opinion and analysis HERE.

Thoughts and news from real estate

Some thoughts before I bring you some interesting bits of real estate news from around Canada and the World…

Stop me if you’ve heard this already. Actually, you can’t stop me. you can only stop reading. Anyways, the stock market is chugging along, the housing market seems to be moving upwards with no end in sight, and many people are saying that interest rates are going to come down even more. Do you see a problem here? Everything seems to be doing great! Now, I’m the last person to be a doomsday soothsayer, however, something doesn’t seem right here. Should there be a balance in the marketplace? Is the recent news of BMO layoffs the beginning of something bigger? Stay tuned. In the meantime, continue to take advantage of these trends. Change is good! Remember this.

Now on to the news….

As many of you know, www.RealCashCanada.com has a News Section. Please visit it for Real Estate News from Globe & Mail and RIS Media.

A Canadian Gold Medal Renovation.

TTC and Land Development – “May I have a Transfer, please?”

Varsity Stadium grows up to become Varsity Centre.

Hey Realtors! Check out FACEBOOK. It could be a great Prospecting tool for you. www.Facebook.com

Petro-Dollars make 5,0000 Calgarians owners of $1M homes.

Opps! ReMax did it again!

Congratulations to Elli Davis – Top Royal LePage real estate salesperson in T.O.

11.1% increase in 2006 in the re-sale market.

www.HomesByOwner.com – Can you guess what this website is all about? That’s right! It’s a prospecting site 🙂

Cost of Housing too much to bear for 25% of Canadian households.

Montreal and Vancouver prices and demand goes up while U.S. new home sales plunge.

KPMG Weekly Newsletter – For the Week Ending January 28, 2007

January 29, 2007

The following information was obtained from newspaper articles appearing
in the Globe and Mail and the National Post for the week ending January 28, 2007:

Homburg Invest Inc. increased its stake in Alexis Nihon REIT from 8.6% to 19.5% by acquiring 2.96 million shares in a private placement. Cominar REIT sweetened its bid for Alexis Nihon to $18.50 from $17, with the extra $1.50 coming in cash. Cominar also extended the deadline to vote on the offer to February 22.
Toronto-based FirstService Corp. invested a total of US$14-million to acquire controlling interests in two consulting companies. First Service purchased an 80% interest in the San Francisco-based hotel consulting group PFK Consulting Corp. and its PFK Hospitality Research. First Service also bought a 60% interest in Ottawa-based MHPM Project Managers.
According to a prospectus filed by Column Canada Issuer Corp., the owners of the West Edmonton Mall, the Ghermezian family, are raising $600-million through the issuance of mortgages secured by the mall’s assets. The $600-million in proceeds received through the sale of multi-class pass-through certificates of Column Canada represent a stake in a first mortgage bond issued by West Edmonton Mall Property Inc. West Edmonton Mall is estimated to have an appraised value of $926-million, a 54% increase from the appraised
value of $603-million in April, 2003.
In the fourth quarter of 2006, mortgage-backed securities transactions in Canada included $386.3-million by Canada Mortgage Acceptance Corp., $553.6-million by Merrill Lynch Financial Assets Inc. and $787.6-million by Real Estate Asset Liquidity Trust.
Imperial Oil Ltd. will begin talks with Calgary City Council regarding the purchase of a laneway between two pieces of property it owns, as part of a potential plan to build a new office tower in Calgary. Imperial is considering building a 35-storey, 700,000-square-foot tower to house employees now working in three buildings.
Vancouver-based Concord Adex Investments Ltd. is planning to build 20 condominium towers with nearly 4,000 units on about 40 acres of land near the southwestern corner of Sheppard and Leslie in Toronto. Concord purchased the land from Canadian Tire Corp. for $149.7-million in October, 2006.
According to N. Barry Lyon Consultants, 9,995 new condominium suites along the Sheppard corridor will go on the market in 2007.
According to J.J. Barnicke Ltd., the office vacancy rate in the Broadway Corridor in Vancouver is 3.4%, compared with about 6% in 2006. The vacancy rate for light-industrial tenants in the area is below 1%. By 2009, two new projects in the area will add 420,000 square feet of retail and office space occupied largely by national retailers. Vancouver-based PCI Group’s Crossroads project will redevelop the site of the former Fairchild Plaza mall with about 98,000 square feet of office space, 122,000 square feet of retail space and 98
condo units. Grosvenor Canada is developing a $150-million mixed-use project on a 2.2- acre site that will include big-box retailers, such as Home Depot.
According to Canaccord Adams, the Canadian REIT sector is expected to produce a 12% to 15% total return in 2007.
According to Demographia International, Canada’s housing market is the most affordable among six countries that include the U.S., Ireland, Britain, Australia and New Zealand. Regina was tied for first place with Fort Wayne, Indiana, and Youngstown, Ohio, as most affordable among 159 major urban housing markets. It would take a worker earning the average wage in Regina two years to make as much as the average home price in that city. Winnipeg and Quebec City placed ninth at 2.5 years. Vancouver made the list of the top 25 least affordable cities at 7.7 years of annual income to equal the average price of a home. The most expensive cities were Los Angeles at 11.4 years and San Diego at 10.5 years. Australia had the least affordable housing market of the six countries.
According to Re/Max, residential housing values in Canada rose 264% to an average of $276,824 in 2006 from $76,021 in 1981. Nationally, the compounded annual rate of return was 5.3% over the past 25 years. The largest gain occurred in Barrie, where the average home value soared 372% to $244,000 in 2006 from $51,665 in 1981. Prices climbed 297% to $257,481 from $64,854 in Ottawa, jumped 290% to $351,941 from $90,203 in the GTA,
and increased to $203,178 from $59,366 in Halifax-Dartmouth. Increases of 292% were reported in Montreal, 242% in the Greater Vancouver Area, 229% in Victoria and 227% in Calgary.
According to Statistics Canada, homeowners’ replacement costs increased 8.2% in December from a year earlier.
According to Urbanation Inc., more than 3,000 new condominium units were sold in the Toronto Census Metropolitan Area in the fourth quarter of 2006. Total new condominium apartment sales reached more than 113,000 units in the past 10 years.
Blackstone Group LP raised its bid for Equity Office Properties Trust to US$22.4-billion, or US$54 a share from US$48.50. Including debt, the offer is valued at US$38.3-billion. The revised bid tops Vornado Realty Trust’s offer of about US$21.6-billion or US$52 a share.
The value of takeovers of property companies in the U.S. doubled to nearly US$200-billion in 2006. Blackstone Group LP’s real estate funds have generated annual returns of 35% to 40% since 1992. Blackstone reportedly plans to raise another US$8-billion to US$10-billion real estate fund by June, 2007.
Los Angeles-based Coastal Resources LLC purchased two adjacent Santa Barbara County cattle ranches from Bixby Ranch Co. for a price reportedly very close to the combined asking price of US$155-million. Both the 8,580-acre Cojo Ranch and the 15,814- acre Jalama Ranch are categorized in California as noncommercial properties.
According to the National Association of Realtors, sales of existing homes in the U.S. fell 0.8% to a seasonally adjusted annual rate of 6.22 million units in December from November. Sales of condominiums rose 2.1%, while sales of single-family homes dropped 1.3%. Sales of existing homes for all of 2006 fell 8.4% to 6.48 million units from 2005, the biggest annual decline since 1989. Sales of single-family homes dropped 8.1% to 5.68 million, while sales of condominiums and cooperatives were down 10.4% to 803,000 units. Sales dropped 15.5% in the West, 7.1% in the South, 5.5% in the Northeast and 5.8% in the Midwest. The existing-home median price increased 1.1% to US$222,000. The NAR forecasts sales will decline 1.2% in 2007, while Fannie Mae projects a drop of 7% to 8%.
According to Merrill Lynch, office vacancy rates in New York City are 10.3%, down 112 basis points from 2006. Rents are climbing 30% year-over-year in New York, making it the top office market in the U.S.
According to the UK property Web site Rightmove, house prices are expected to rise 6% across the UK in 2007. The number of properties for sale is down 18% from January, 2006, helping to boost average prices 0.5% so far in January of this year. The price of an average home in the U.K. rose 13.5% in the past year and reached ÂŁ222,859 in January. Prices in the top end of the London market climbed 22.4% last year to a record ÂŁ356,192 ($826,353) and Savills forecasts a gain of 15% in 2007. The biggest increase in a London borough was seen in Kensington and Chelsea, where the average price grew 61.8% to ÂŁ1.15-million over the year.
According to Standard and Poor’s, Macau reported that earnings from gambling activities climbed 22% to US$7-billion in 2006 from the previous year. Earnings from gambling activities on the Las Vegas Strip are reportedly expected to reach about US$6.6-billion for 2006. Macau’s earnings are projected to reach US$10-billion by 2010.
Richard Branson, owner of Virgin Group Ltd., reportedly may open his first casino in Las Vegas or Macau and is seeking possible partners.

Real Estate Blog, Re/Max Report, and more!

I recently came across a real estate blog which some of you may find interesting. It’s called Ken’s Blog. Ken has written some very interesting articles. He also highlights some of the things they are doing at his office and at the local Board. I encourage you to check it out!

Then there is all this ‘news’ about the growth in the Toronto market over the past 25 years. 290%!! Wow! Wow! Wow! To view the Re/Max Canadian report click HERE. It’s a very interesting report and will no doubt fuel even more real estate activity. Hmmmm….Re/Max fuelling more activity as mortgage rates climb (although slowly), layoffs at major corporations start to happen, and also while companies start to fall short of market expectations. Interesting to say the least.

For a quick coast-to-coast take on this article go HERE.

To read the Toronto Star’s take on the report click HERE.

The Globe and Mail also has an article on the report. You can find it HERE. There is also some very interesting commentary on the report from readers across Canada. Check it out HERE.

CBC.ca, Canada News Wire, and Canada.com also reported on Re/Max’s findings.

Now what would you say if I told you that someone once told me that what goes up usually come down? I’m just the messenger. But check out THIS REPORT about a ‘downturn’ in resale prices.

Ever wonder why you get confused about owning a home and the masive debt/mortgage that keeps you up at night? Check THIS out.