The end of every year is a good time to see where you stand financially, and get organized for the coming year

By Krystal Yee   December 17, 2012   moneyville.ca

The Canadian Real Estate Association is forecasting that house sales will decline two per cent in 2013

The Canadian Press   Mon Dec 17 2012 11:49:00

OTTAWA – The Canadian Real Estate Association cut its sales forecast for this year and next on Monday as it said slower sales in the wake of tighter lending rules this summer have remained.

The industry association said now expects home sales this year to slip 0.5 per cent compared with 2011 to about 456,300.

That compared with a forecast in September that called for sales this year to rise 1.9 per cent to 466,900 units.

The association also said it now expects sales next year to drop two per cent to 447,400 compared with earlier expectations for a drop of 1.9 per cent to 457,800 in 2013.

“Annual sales in 2012 reflect a stronger profile prior to recent mortgage rule changes followed by weaker activity following their implementation,” said Gregory Klump, the association’s chief economist.

“By contrast, forecast sales in 2013 reflect an improvement from levels this summer in the immediate wake of mortgage rule changes. Even so, sales in most provinces next year are expected to remain down from levels posted prior to the most recent changes to mortgage regulations.”

Finance Minister Jim Flaherty moved in July to tighten mortgage rules for the fourth time in as many years in order to discourage those most at risk of becoming over-leveraged. Flaherty made mortgage payments more expensive by dropping the maximum amortization period to 25 years.

The association said the average price for 2012 is expected to be $363,900, up 0.3 per cent compared with a September forecast of $365,000, up 0.6 per cent.

For 2013, the association said it expects prices to gain 0.3 per cent to average $365,100. That compared with earlier expectations of a drop of one tenth of one per cent to $364,500 in 2013.

The downgrade for the outlook for the year came as home sales edged down 1.7 per cent month over month in November and were back where they stood in August.

The decrease followed a drop of about one-tenth of a per cent in September.

Actual, or non-seasonally adjusted sales, were down 11.9 per cent from November 2011 while the national average home price in November was $356,687, off 0.8 per cent from November 2011.

Sales were down on a year-over-year basis in three of every four of all local markets in November, including most large urban centres. Calgary stood out as an exception, with sales up 10.6 per cent from a year ago.

Kitchener and Waterloo also recorded a sales increase in November, with sales rising 7.3 per cent. Sales in Cambridge fell 14 per cent.

Toronto, Montreal and Vancouver contributed most to the small decline at the national level.

A total of 432,861 homes have traded hands over the MLS system so far this year, down 0.2 per cent from levels reported over the first 11 months of 2011 and 0.8 per cent below the 10-year average for the period.

The MLS Home Price Index, which is not affected changes in the mix of sales, showed prices up 3.5 per cent nationally on a year-over-year basis in November.

However, it was the seventh consecutive month in which the year-over-year gain shrank and marked the slowest rate of increase since May 2011.

The MLS HPI rose fastest in Regina, up 11.6 per cent year over year in November, though down from 13 per cent in November.

Among other markets, the HPI was up 4.6 per cent year over year in Toronto, 1.9 per cent in Montreal and 7.1 per cent in Calgary. In Greater Vancouver, the HPI was down 1.7 per cent year over year.

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 2400 lbs of Food & Over $12,000 in Cash Were Raised to Help The Food Bank of Waterloo Region With its “Christmas Drive”

The more than 60 Sales Representatives of Royal LePage Wolle Realty in Kitchener weighed in with contributions of over 2400 lbs of food and over $12,000 in cash to help the Food Bank with its “Christmas Drive”. More than 900 of the firm’s customers, families and friends filled six theatres at Empire Theatres on December 8th, 2012 for the family-friendly movie “Wreck It Ralph”. The price of admission was at least one non-perishable food item per family member and cash donations were made by appeal to local business. Congratulations to Erin Betts who won our draw for a $250 Gift Certificate for Saucony Shoes.

A special vote of thanks is being extended to the donating corporations, businesses and individuals and thank you to all our clients, families and friends that came out to support us!

Get inspired with these simple and pretty Christmas gift wrap ideas.

Photograph  Jennifer Bartoli  Style at Home Magazine

With the holidays right around the corner, we’ve put together a few fun ideas to easily update your gift wraps this year. From adding small festive treats to the top of a gift to trying new colour combinations, these simple ideas will make Christmas gift wrapping a fun holiday activity.

Add a candy cane A simple red and gold colour palette is always chic and festive but can be a little boring year after year. For an instant update, add a red and pink candy cane to each gift, tightly securing it under the ribbon.
Gift wrap courtesy of Hallmark.

A golden pine cone For smaller gifts, adding a festive item like a pine cone really transforms the look of a gift. For this project, simply spray paint a few pine cones with gold paint. Once they are completely dry, secure to the top of a wrapped gift using a glue gun.

Use a stencil Using craft paper is an inexpensive way to give a rustic feel to your presents. This project was made by using a pretty patterned stencil and lightly dabbing paint to create a fun design. We used a touch of silver and black paint to give a two-toned look. Once the paint has completely dried, add a bright ribbon and a personalized gift tag.
Tip: Depending on the size of the gift, it may be easier to apply the stencil once you have already wrapped your gift. You can then decide exactly where you want the pattern to go.

Try a new colour palette Switching up your usual Christmas colour palette is the easiest way to update you holiday style. We particularly love the silver and blue combination: it’s still festive, but has an understated, sophisticated feel. For this look, we paired silver wrapping paper adorned with blue, white and maroon snowflakes and used a thick fabric ribbon tied in a simple knot.

Make it personal If you don’t have a set of gift tags on hand, adding the name of the recipient of your gift directly on the paper can look lovely too. For this project, use matte wrapping paper making sure that paint will adhere to the paper. We used craft paper with a simple thick black ribbon. Using an alphabet stencil, simply dab coloured paint to spell a name.
Tip: Try to tightly secure the stencil while you are using so that letters do not smudge.If you’re not used to using stencils, practice on a scrap piece of wrapping paper before printing a name on an already wrapped gift.

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By Kitchener-Waterloo Association of REALTORS® (KWAR) admin   •December 5th, 2012

KITCHENER-WATERLOO, ON (November 5, 2012) –– Residential real estate sales through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were up 7.3 percent last month compared to November of last year.

There were 486 residential properties sold in November, bringing the year-to-date total to 5,931, just nine more home sales than during the first 11 months of 2011. The total value of homes sold last month was $151 million, up 11.3 percent over last year.

“In terms of total unit sales, it was a better than average November” says Dietmar Sommerfeld, president of the KWAR. “Our figures show that residential transactions in November were 6.8 percent above the previous 5 year-average.”

November’s residential sales included 318 detached homes (up 8.9 percent), 33 semi-detached (down 17.5 percent), 26 townhouses (up 4 percent), and 103 condominium units (up 14.4 percent).

There was a jump in the number of home selling in the $500,000 to $750,000 price range — 41 homes compared to 23 in November of last year. This put some upward pressure on the average price range.

The average sale price of all homes sold in November was $311,604, compared with $300,447 a year ago, an increase of 3.7 percent. Single detached homes sold for an average price of $359,439, compared with 346,044 last year, up 3.9 percent.

The median price for all homes sold in November was $287,750 compared with $275,000, an increase of 4.6 percent. Single detached homes sold for a median price of $326,500 compared with $315,000 last year, up 3.7 percent.

Sommerfeld says that despite talk of cooling markets in some Canadian cities, continued low borrowing costs, confidence in the local real estate market, and a well-diversified local economy are keeping Kitchener-Waterloo’s housing market steady and stable.

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With a spark of imagination, holiday decorating can be inspired yet inexpensive

By Trish Sinclair, Style at Home Magazine

Whether you’re planning the Christmas party of the century, or burning the Yule log on your own, holiday decorating does not have to break the bank-or your festive spirit.
Your creativity can take you far. Try these tips and projects to make your home a holiday haven, while only spending a Dickens’ halfpenny.

1 Christmas close-outs

Check local newspapers often for special ‘close-out’ sales. Often lasting only two or three days, close-out sales are gold mines for everything from kitschy candles to bushels of tree lights, at prices lower than wholesale.

2 Festive foraging

Gather nature’s ornaments, such as pinecones, acorns and balsam fir tips from the backyard or local park. Add a touch of silver or gold spray paint to your gatherings and arrange in a glass bowl surrounded by votive candles.

3 Christmas aromatherapy

Delight houseguests with the warm scent of a mulling spice bag. Combine whole cloves, allspice, cinnamon sticks, and nutmeg with dried orange and lemon peel in a small piece of cheesecloth secured with elastic. Simmer the spice bag in a pot filled with 3-4 cups of water, and enjoy the aroma.

4 Merry memories

Gather a collection of favourite family and childhood Christmas amaryllis plant is a holiday favourite, and should be potted six weeks before Christmas to yield large, stunning blooms. Pot two or three of the festive ‘Peppermint Stick’ variety, which are white, swirled with red.

6 Christmas by candlelight

Nothing creates a festive ambiance like the glow of candles. For a dining or coffee table centrepiece, group three pillar candles of various heights in holiday colours on a ceramic or other non-flammable dish. Scatter several tea lights in small glass holders along a mantel, bookshelf or buffet table.

7 Charlie Brown-style

At half the price of big trees, one to three-foot high mini evergreen trees make adorable desktop or table decorations. Perfect for apartments and other small spaces, ‘Charlie Brown’ mini trees are available at many garden centres and Christmas tree lots.

8 How fairy festive!

Add a twinkly, romantic effect with white fairy lights. String lights along the length of a window curtain rod to brighten a room. Arrange a strand of lights along a mantelpiece, weaving lights among Christmas cards and ornaments.

9 Deck the halls and doors …

Fallen evergreen boughs and small pieces of greenery can be collected outdoors or purchased cheaply in surplus from Christmas tree lots. Natural boughs add a traditional Christmas look and scent and they can adorn banisters, doors and mantels.

10 Fragrant fireplace

Dress up a bare hearth by decorating a small wood log with flammable, decorative, scented accents, including sheet moss, pinecones, cinnamon sticks and whole cloves. When burned, this Yule log will make a glowing fire with a festive fragrance. (Use non-toxic white glue to decorate log rather than hot glue.) See below for instructions.

Scented Yule log With this decorative, burnable Yule log, the open hearth or top of a woodstove will always look and smell festive:

Supplies: • 1 sheet moss (from florist or craft store) • small wood log • white craft glue • pine cones • cinnamon sticks • whole cloves • pot pourri (Christmas blend) • essential oils (pine, cinnamon, balsam frankincense)

Instructions: Glue the moss to the top of the log. Glue potpourri pine cones, cinnamon sticks, whole cloves, cinnamon sticks onto the moss. Sprinkle a few drops of essential oils to the moss and spices. Add a festive bow to the top of the log (to be removed before burning).

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The Waterloo Region can expect “slow but steady” growth into 2013

Wreck-It Ralph!

Come celebrate Christmas featuring a private screening of Wreck-It Ralph with a special visit from Santa Claus, face painters and goody bags. Admission is a non-perishable food item or cash donations. All proceeds go to the Food Bank of Waterloo Region in time for the Holiday Season. Come support a great cause. Tickets are limited. RSVP is required and tickets are going fast!

Be sure you fully understand the details before closing a real estate deal

By Mark Weisleder | moneyville.ca article