Home prices see first annual rise in 10 months

OTTAWA -- Resale prices for Canadian homes rose for a sixth consecutive month in October -- and were up on an annual basis for the first time in nearly a year -- as the country’s real estate market continued to recover from recessionary lows, according to a report released Wednesday.

Canadian Real Estate Investment Trust Acquires a 50% Interest in Retail Properties Forming Part of South Edmonton Common Shopping Centre

ORONTO, ONTARIO -- (Marketwire) -- 12/30/09 -- Canadian Real Estate Investment Trust (CREIT) (TSX: REF.UN) today announced it has acquired a 50% undivided interest in certain retail properties forming part of South Edmonton Common Shopping Centre (SEC), in Edmonton, Alberta.

SEC is one of the largest and most successful unenclosed regional power centres in Canada and currently comprises approximately 2.1 million square feet of retail space.

Retailer-owned anchors of SEC include IKEA, Walmart, The Home Depot and Loblaw Real Canadian Superstore.

CREIT has acquired a 50% interest in several key components of SEC, including certain income producing property, property under re-development and retail development land. The specific property details are outlined below.

Canadian real estate, marijuana, ecstasy, methamphetamine, drug labs and you.

Canada's red hot real estate market has real estate buyers scrambling to get into the profitable real estate market while the getting is good. Many feel purchasing and renovating distressed properties such as former grow ops or methamphetamine labs are an easy flip for profit. For the unsuspecting home buyer, this column is geared for you!

Many in Canada see the marijuana industry as a victimless crime. Grow ops, ecstasy labs and meth labs can be next door in any home, including 5,000 square foot luxury mansions from Hope to Whistler. Believe it or not, there are more million dollar plus homes used for manufacturing drugs in British Columbia versus an old home.

Most people cannot tell if a house was used as a drug lab. Many do not realize they may be buying a toxic wasteland. Meth drugs labs produce about seven pounds of hazardous waste for every pound of meth produced.

Many Realtors and Home inspectors are not experienced in detecting former drug labs. So it could be buyer beware. This column will provide some basic insights in what to look for when you suspect that smoking hot deal may too good to be true.

Homes in the lower mainland costing upwards of a million dollars plus are certainly a major investment for anyone.

Real estate trends: Things are looking up for 2010

When it comes to the condo market in 2010, relationships and values will play a key role. Neighbourhood and project identities or "brands" will figure prominently and builders and buyers will take more steps towards sustainable building and living.

Those are some of the coming trends identified by a panel of five industry experts, including real estate broker Hunter Milborne, architect Charles Gane, marketing and branding professional Ishan Ghosh, designer Enza Checchia and public relations consultant Danny Roth, during a recent roundtable discussion at the Toronto Star.

Fears of Canadian housing bubble dwindle

Canada's real estate market is finding its balance.

A surge in new listings in November helped ease a chronic supply shortage and temper prices from a month earlier, easing fears of a bubble in the making even, though the rebound in the market continued unabated.

That's what economists were looking for because a steady string of monthly price increases could inflate an asset bubble and lead to a severe correction when interest rates eventually rise. For the past several months, prices have been rising month-over-month, with double-digit percentage increases posted year-over-year.

Listings in November increased by 5 per cent compared with October, the largest one-month gain in two years, the Canadian Real Estate Association said Tuesday. The increase is a sign of consumer confidence, and signals a return to normalcy in what has been an extremely volatile market. More inventory ultimately means lower prices. The average national price in November declined by 1.1 per cent from October to $337,231, although that was still up sharply from the depressed levels 12 months ago.

Is the Canadian housing market in a bubble?

It sure looks that way,” according to well-known North American economist David Rosenberg.

In his Special Report — Is the Canadian housing Market in a Bubble, Mr. Rosenberg adds his voice to a growing list of those from Canada’s financial establishment who are concerned about Canada’s growing household debt.

In fact, even the Bank of Canada is concerned, warning Canadians last week that growing household debt now represents the biggest risk to Canada’s financial system, and pleading with borrowers and lenders to remember that the current era of super-low interest rates won’t last.

100 lost $5 million in Toronto real estate scam

TORONTO – 100 people who could least afford to lose money can kiss their cash goodbye.

Police said they have reported being ripped off in a $5 million scam – and it is likely the 100 unfortunate people who bought into a real estate scheme will not ever see any of their money.

Toronto Police fraud squad on Thursday charged four people in connection with a scheme that would allegedly allow them to acquire real-estate by pooling their resources.

“It is alleged that the accused, Mohammed Saheed, purported to be a real estate specialist,” police said. “He targeted a specific demographic of victims, most of whom had limited financial resources – he convinced them that, by pooling their money, they could acquire real estate that would be managed and developed by the accused.”

Earl Jones' condo hits the real estate market

As Earl Jones' lawyer dealt with the courts, the disgraced West Island financial advisor's luxury condo in Dorval went on the market today.

Boasting breath-taking views Lac-St-Louis, spectacular sunsets year round, not to mention the spacious bedrooms, apartment 3X at 840 Lakeshore in Dorval is selling for $925,000.

The condo was Jones' last refuge before being hauled away on fraud charges and now, it teems with real estate agents and potential buyers.

As for Jones, he not holding up well aaccording to his lawyer Jeff Boro but if Boro is hoping to generate sympathy for the disgraced financial planner, Kevin Curren, son of one of Jones' alleged victims, has none.

"I can't imagine (Jones) is doing as poorly as a woman who was waiting for a liver transplant, who's money was stolen on her deathbed"