Mark Cheatley, RE/MAX Hallmark Realty Ltd.

07/24/2017

OSFI considering further mortgage belt tightening.

It could slow down growth in mortgage originations and lead to other negative repercussions, one analyst warns

11/15/2016

At last, some change/relief in the Ontario Land Transfer System. Much better for first time buyers, but hits higher end purchasers harder.

"GOVERNMENT ANNOUNCES PROVINCIAL LTT CHANGES

November 14, 2016 -- The provincial government has announced significant changes to the Provincial Land Transfer Tax (PLTT), including a doubling of the rebate available to first-time home buyers, bringing it in line with the City of Toronto's rebate, and an increase in the PLTT paid on the portion of the price of properties over $2,000,000 to help pay for the increase in the first-time buyer rebate.

The provincial government is proposing to double the maximum rebate for first-time home buyers from $2,000 to $4,000. This change would bring the PLTT rebate in line with the City of Toronto LTT rebate. The real estate industry welcomes this change, which will help to make housing more affordable in the GTA.
The provincial government is proposing to increase the PLTT for homes priced over $2,000,000 by charging 2.5% on the portion of the value above $2,000,000 (currently this portion is charged 2%).
For non-residential properties, the provincial government is proposing to increase the PLTT on the portion of the value above $400,000 to 2% (currently this portion is charged 1.5%).
As a transitional measure, purchasers who entered into agreements of purchase and sale on or before November 14, 2016 would not be subject to the increased rates of tax.

TREB welcomes the increase to the provincial first-time buyer rebate to bring it in line with a similar rebate in the City of Toronto as long overdue. TREB, however, always has concerns with tax increases on property, and governments should be focused on measures to make property ownership in the GTA more affordable, not more expensive.

The provincial government is proposing to restrict eligibility of the first-time home buyer rebate to Canadian citizens and permanent residents, effective January 1, 2017. As a transitional measure, purchasers who entered into agreements of purchase and sale on or before November 14, 2016 would remain eligible for the refund, regardless of citizenship or residency status."

01/05/2016

Believe it or not, the Ontario Government actually listens sometimes!

"No Extension of MLTT

December 1, 2015 -- The Minister of Municipal Affairs and Housing Ted McMeekin announced today that the government will not give municipalities outside of Toronto the ability to charge a municipal land transfer tax (MLTT). You said "no" and they listened.

REALTORS® mounted a strong campaign against this proposal, and TREB Members played an integral role in speaking out.
As a result, Realtors have helped stop one of the largest potential tax increases on home ownership."

In a world of constant deficits and increasing taxes, this is amazing.

12/14/2015

Every once in awhile, politicians listen to the desires of their constituents.

The Ontario government recently voted to stop the spread of the Municipal Land Transfer Tax, so it remains a Toronto only phenomenon. Hallelujah!

Realtors , and many indviduals, lobbied extensively on this matter over the past few months. For this, we say Thank You!

Best,
Mark

"On December 1, 2015, the Government of Ontario announced that it would not be extending Municipal Land Transfer Tax powers to municipalities. In doing so, the province has protected the Canadian Dream of homeownership for future generations. This was due in large part to the thousands of Ontarians like you who made their voices heard by sending emails, letters and sharing their opposition on social channels."

11/23/2015

It never ends....
Looks like our provincial government will be extending the power for Municipalities to charge a second land transfer tax (Toronto already charges this).

The cost to homeowners for this 2nd tax is astounding. Equally as punishing is that the rates currently being charged for the land transfer tax, have not been indexed for inflation since 1989.

The purpose of a specific tax is to provide a service; at least in the province’s case, they operate the land registry office. Toronto, however, does nothing but collect funds at the expense of those who buy property.

The Ontario Real Estate Association calculates that 38,000 property transactions did not take place because of the Toronto Tax. I can easily agree with this statistic because I personally have lost many transactions by clients who wanted to move, but couldn’t justify this enormous expense.

There is still time to help fight the continued implementation of this tax throughout our province by contacting your MPP.

Mark

http://www.canadianrealestatemagazine.ca/market-update/new-tax-set-to-impact-ontario-home-sales-198627.aspx

The Ontario government is to extend the power of municipalities across the province to charge a land transfer tax, according to the Ontario Real Estate Association

10/13/2015

Toronto Life Magazine posts their "ultimate neighbourhood rankings."

http://torontolife.com/neighbourhoods/

Our (mostly) scientific survey of 140 Toronto 'hoods. Let the turf wars begin.

04/04/2015

I'm so happy to achieve the RE/MAX Platinum Award again in 2014, and to be a part of this great company! Many thanks to all my clients.

03/13/2015

Proud to be part of this successful group!

01/08/2014

Our Fairview office has now moved to Sheppard Avenue, across from the Bayview Village Mall. Looking good Hallmark!

Our Fairview Office has moved, check out our new Bayview Village Office located at 685 Sheppard Avenue East, Suite 401.

10/29/2013

RE/MAX Hallmark expands further into York Region.

RE/MAX Hallmark is proud to announce our new office located at 15004 Yonge Street in Aurora. RE/MAX York Group is now known as RE/MAX Hallmark York Group Realty. Welcome to the new Hallmarkers!!!

10/02/2013

Toronto Life Ranks Our Neighbourhoods

http://www.torontolife.com/neighbourhood_rankings/

TORONTO LIFE HOME September 29, 2013 The Magazine | Digital Edition | Subscribe | Newsletters | Contests | Mobile App | Toronto Restaurant Search

09/03/2013

Here are some good tips when preparing to sell your home.

What a difference a couple of years makes. Back in 2007, homebuyers would beg to purchase your house. They would even bid more than the asking price for the privilege to do so. Today ... well, not so much. ...