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James Metcalfe Real

James Metcalfe’s February Real Estate Update

February 18, 2013 by James Metcalfe Leave a Comment

February has almost come to a close and was once again a very successful month. The average price of a resale home increased by 4.3% to an average price of $482,648. The industry saw price growth in many market segments including single-detached homes, semi-detached homes, town homes and condo apartments. This month in our newsletter we focus on personal finance and look at tax issues when selling a condo. This month in personal finance we look at the pros and cons of reverse mortgages: how they work, the advantages and disadvantages and traditional mortgages vs. reverse mortgages. When you are selling a condo (and it is not your primary residence) it is important to realize that half the profit is taxable. Read more about taxes and condo sales in this month’s Condo Corner. Returning this month as always are the ever popular pearls of wisdom. Here is a sneak peak to get you in the spirit. “The secret to staying young is to live honestly, eat slowly and lie about your age.”- Lucille Ball

Filed Under: Consumer Best Interests, F.A.Q., Love to Laugh, Maintenance & Security, Market Stats & Trends, Our Home Toronto Real Estate Newsletter Tagged With: condo taxes, James Metcalfe Real, James Metcalfe Real Estate, Pearls of Wisdom, reverse mortgages

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James Metcalfe & Robin Tully
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JOHNSTON & DANIEL Division
Royal LePage R.E.S. Ltd.,Brokerage
477 Mount Pleasant Road
Toronto, ON, M4S 2L9

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