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Residing in the unit for 1 year is not the litmus test. It's all based on intention. If it was your home for 1 month and something unforeseen happenned, then so be it, it's still considered your principal residence and exempt from capital gains. The only catch is that you may only claim one...

Keep in mind, with 20% down, an investor would be wise to take a heloc. At today's rate of 4.5%, that equals $375 for every 100k of mortgage. On a 300k property, that's $900/month + about $550 in taxes and maintenance. A 300k property in downtown toronto should easily rent above $1450/month...

The 2.5% isn't anything special, but remember very very few people could or should pay for real estate 100% outright. If you only put 20% down, then that becomes more like a 12.5% annual return. Looking at it from an investors point of view. Assuming you were renting the property out, you've...

299 Bloor is right about only posting what's confirmed. I just added a list to start chatter. The only confirmed one is Minto King West. The others are all hearsay from RE Agents.

Well, eventually everything will be built in one form or the other. They just may have to wait til the credit crunch is over and/or the market heats up again. That said, I believe the following have been put on hold or scrapped in one form or the other based on what I've been hearing (yes...

This one will eventually be built forsure. The builder is reveng to go like a wild bull. He's just waiting for the bank to give the ok. I know the deadline is approarching for Economic Viability...did anyone get the letter yet?

Without a doubt they'd like to go ahead with the project......it's just not their decision. With the credit crisis happenning, lenders are hoarding money rather than lending it out. I read somewhere that over 30% of projects in the GTA are having difficulties getting financing, even with...

Did she say the mailing will be an extension or confirmation of the beginning of construction?

I'm an optimist when it comes to housing...but you can't deny that the market is different today than last year. However, the market is not tumbling. There is downward pressure on sales in many areas, but various pockets are still healthy. Some numbers distort the overall picture. The very...

Anyone have pricing for this project? Or anything in the leslieville area for that matter?

I remember that story....LOL. Funny thing is that the sales agent featured in that story is no longer working at there as of recently. Maybe she saw the light.

Buddies in the biz say that it's highly likely another extension is on the way. Canalfa won't confirm or deny yet, but no comments speak for themselves sometimes. Wish they'd just give in and sell their land to Monarch. I'm moving into Zip shortly so on the bright side for me.....I'll have...

When I see other condos come along, the crane usually isn't the first thing to that comes. I just have a feeling this one is headed for another extension.....why would the builder leave it til the last minute to announce financing? If it were in place, I'm sure he would have let all the buyers...

I have always paid more attention to Median prices rather than average prices. This figure does a better job at eliminating expensive housing that skews numbers. Also, I would say that pricing trends from month to month put things more in perspective. Prices in Toronto may have dipped 15%...

The October 31st extension for LVT purchasers is fast approaching and no word yet. Seems like deja vu again. Expect another extension. Digging a single hole does not really constitute construction.

I still think it's too early to buy into the US. End of '09, early '10 is when the bottom will hit in my opinion.

Was told a while back by a sales agent from Monarch when I was buying in their development.

I'll be moving into Zip and have to admit it's not the greatest piece of architecture, but is modern nonetheless. What attracted me to it was the extra wide suites (mine is a corner suite wrapped in floor-to-ceiling windows), and the massive balconies. The area needless to say is awesome. The...

Anyone notice that their ad in the Condo Guide says "now under construction"? Any lawyers here know if that's misrepresentation? They may have put the toilets on site to avoid liability in my opinion. Also, I head that Monarch wants to buy some of the land that Canalfa owns. Would be good...

Whether or not you use an agent, you still pay the same price the builder lists the unit at. May as well take an agent in that case...not costing you anything. I've used an agent before and received a rebate from his commissions.