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REITs on verge of major legal changes

TIM KILADZE The Globe and Mail 18.12.2010
Vancouver city councillors had hoped to keep a two-per-cent lid on property tax increases for 2011, and almost did. (CBC)

Vancouver taxpayers will see their property taxes increase in 2011 after city councillors approved a 2.2 per cent increase at a meeting Tuesday night, exceeding the two per cent cap they hoped to keep on the hike.

REITs on verge of major legal changes

The management teams at Canadian REITS must be smiling wide today after the Department of Finance came out with its proposed amendments to the Real Estate Investment Trust rules. The current set is quite stringent. At the moment, REITs cannot hold any ‘non-qualifying’ properties in their portfolios.

Inside Toronto's House of Horror

November saw a slight upward trend in sales and prices in the Vancouver area, figures show. (CBC)

Vancouver-area residential home sales improved in November compared to the previous four months, says the Real Estate Board of Greater Vancouver.

Rob MacNeil, who lives beside 114 Kingsmount, has complained about the property many times. STAN BEHAL/QMI Agency

TORONTO - It's the worst neighbour they've never had. Rob and Laura MacNeil were shaking their heads last week when the empty Toronto Community Housing Corporation (TCHC)-owned house next door, was broken into - yet again. It's the fourth time in almost four years the locks have been busted open.

Vancouver residents could face two-per-cent property tax hike

Vancouver residents could face a two-per-cent increase in property taxes next year to help balance the municipal books. The city's total operating budget for 2011 is projected to be $1.02 billion, up six per cent from last year.

Victoria's Secret has recently entered the Canadian market, with stores in Toronto and Edmonton.   Read more: http://www.vancouversun.com/business/Demand+retail+property+rises+Canada/3864972/story.html#ixzz1614RBw3D

A strong domestic economy and relatively modest retail rental rates have hiked demand for retail property in Canada, with U.S. companies lining up to try out a market that's stronger than the faltering one at home.

Canadian REIT profit tumbles

The Globe and Mail 03.11.2010
Bouncy castles: Toronto's property market keeps going

Among real estate agents, the talk was all about how restrained the bidding was – even though the house sold above the asking price of just under $800,000. The consensus among agents was that the house would likely fetch more, says Theodore Babiak of Royal LePage Real Estate Ltd., who represented one of the competing buyers.

Canadian REIT profit tumbles

Canadian Real Estate Investment Trust (REF.UN-T32.580.220.68%) says its profit slipped 30 per cent during the third quarter as it booked less income from operations.

How realtors gauge the housing market

The Globe and Mail 30.10.2010

Manulife buys Toronto office property

The Globe and Mail 30.10.2010
How realtors gauge the housing market

Gregory Klump spends his days studying the housing market as the chief economist for the Canadian Real Estate Association. I visited him last month in the association’s Ottawa offices, since I was in town and working on a series about housing. Here is a transcript of the interview, in which we bicker about whether reporting average sale prices each month is helpful or not.

Manulife buys Toronto office property

Manulife Financial Corp. (MFC-T12.91-0.09-0.69%) has stepped heavily into Toronto’s office market, investing $82.2-million to buy a 12-story building in the city’s financial district.

Halifax property combed for evidence in murder

DAN ARSENAULT The Chronicle Herald 21.10.2010
A real estate agent puts up a 'sold' sign in front of a house in Toronto on Tuesday, April 20, 2010. (Darren Calabrese / THE CANADIAN PRESS)

Canadian house prices are overvalued, but not as much as those in Australia, Hong Kong or France, according to a new worldwide survey.

Police officers dig up a section of lawn near the scene of a murder which happened Saturday night at Mulgrave Park in Halifax. (Eric Wynne / Staff)

Forensic identification officers dug up the ground Tuesday in front of Halifax’s latest murder scene. Working in an organized grid system just off Jarvis Lane, they ripped up 7.5-centimetre-thick chunks of sod and placed them on grates to break them down, hoping to find evidence in the Saturday night killing of Donald (Ducky) Stevenson.

Home sales fall 20% from record last September

OTTAWA (CP) — Home sales fell nearly 20 per cent in September from a record level a year earlier as the economy weakened, the Canadian Real Estate Association said Friday.

Colombian Mines Joint Ventures Colombian Property with Eaglecrest Explorations Ltd.

VANCOUVER, BRITISH COLUMBIA, Oct 05, 2010 (MARKETWIRE via COMTEX) -- Colombian Mines Corporation (CA:CMJ 0.90, +0.04, +4.65%) ("Colombian Mines", "the Company" or "CMJ") announces that pursuant to a binding letter of intent effective as of September 30, 2010, the Company has granted to Eaglecrest Explorations Ltd.

MLS real estate deal 'may force out agents'

Bruce Stotesbury Times Colonist 03.10.2010
Canada's housing market should return to "more normal" conditions this fall following a summer slowdown, a report from real estate firm Re/Max said. Photograph by: National Post, National Post

OTTAWA -- Canada's housing market should return to "more normal" conditions this fall following a summer slowdown, a report from real estate firm Re/Max said Tuesday.

Real estate sale signs in Victoria.

Potential new rules for the housing market may force real estate workers to quit the sector, an expert said yesterday. The warning, from Saul Klein, Lansdowne professor of international business at the University of Victoria's business school, comes as some agents are having to take on second jobs to make ends meet amid declining sales.

The end of Canadian real estate insanity

Gary Mason The Globe and Mail 03.09.2010
It was inevitable that the boom would end, and maybe that’s not all bad

New York Times headline caught my eye the other week: Housing Fades as a Means to Build Wealth, Analysts Say. The article went on to report that, while most real-estate experts believe the U.S. housing market will recover from falling off the cliff, many also feel that home ownership will never again produce the rich rewards enjoyed in the second half of the 20th century.

A new report says Vancouver's real estate market could drop by 30 per cent. Aug. 31, 2010. (CTV)

A new doomsday report warns Vancouver's housing market could be hit by a burst bubble -- and a drop in prices by as much as 30 per cent.

Canadian Realtors Approve Changes to MLS Rules

The Canadian Real Estate Association has voted for controversial changes to allow homeowners manage more of the home selling process on their own.


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