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Archive for February, 2013

James Metcalfe’s February Real Estate Update

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

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Family Time in the City

Tomorrow is Family Day! Ontario residents first started observing the family day holiday in 2008 and there are always a large number of fun, family friendly events that take place around the province and the city of Toronto during the family day holiday. In celebration of family and to help our readers enjoy the holiday Our Home Toronto has put together a list of some Family Day events happening around Toronto. These are just a few of our favourites:

1) Skating: The public skating rinks will be open including the rink at the Harbourfront which is hosting the HarbourKids Skating Festival. The festival will feature skating performances, dancing, theatre and concerts.

2) Casa Loma: Not only is Casa Loma a Toronto landmark but it also hosting a teddy bear extravaganza on Monday complete with a reading of Goldilocks and the Three Bears, tea, hot chocolate and cake. Tickets are $23 for adults and $17.50 for children.

3) Tiff Bell Light Box: The Lightbox will host a whole day of free activities from 10:00am. Arrive early so you and your family don’t miss the magic shows button making.

4) The AGO: The Art Gallery of Ontario is hosting a dance party this upcoming Family Day! For $39 for a family pass (2 adults and up to 5 children) you can also  see family films, do a scavenger hunt and even try family yoga!

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