10 DECEMBER 2012WEEKLY

HOW TO NURTURE YOUR DREAMS

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Condo sales continue to slide faster than home sales and prices soften, especially in the 416 region, according to the Toronto Real Estate Board

Condos resale transactions down 25.5 per cent across the GTA and prices down an average of 2.3 per cent. The biggest declines in condo prices were in the City of Toronto,

Sales of previously owned condos sank by 25.1 per cent in the City of Toronto and 26.5 per cent in the 905 regions. Prices were down 3.9 per cent in the City of Toronto and up 2.5 per cent in the 905 regions over last November,

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Condos take thedrop in the GTA

Biggest Hit asHome Sales

Investing in single-family homes is traded REITs,” said Colin Wiel, becoming big business and a driving managing director of Way point Homes, force stabilizing home values in based in Oakland, Calif., another communities across the country, as company in the business of acquiring institutional investors see value in and renting out single-family homes foreclosures that can have new life as that is considering the possibility of rental homes. becoming a publicly traded REIT.

Soon, average investors may be able Right now, publicly traded REITs to get in the act, too—without having to include those based on apartment buy a house themselves. properties as well as retail, office and

industrial space.That's because some in the industry are more than kicking around the idea of It is possible that new single-family creating publicly traded real-estate publicly traded REITs could be on the investment trusts, or REITs, for single- scene early next year, said Rick Sharga, family rental homes. executive vice president at Carrington

Mortgage Holdings in Santa Ana, Calif., “To date, there has been no publicly which also invests in single-family traded vehicle in which any investor can homes and turns them into rentals.participate in the housing recovery. Our

goal is to remedy that,” said Stephen G. But when the opportunity arrives, Schmitz, chairman and chief executive investors should exercise caution.of American Residential Properties, a It's a new concept, buying single-real-estate investment company that family properties and renting them out acquires, renovates, leases and manages on a large scale. In the past, it was single-family properties. Today, there's mainly individuals who owned and really no vehicle for an investor to play leased out these properties.in the space “unless he wants to get a (Source : MarketWatch)pickup truck and tool belt and wants to buy two or three houses.”

“ I n v e s t m e n t bankers in this space clearly believe that it's inevitable to see multiple publicly

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Single-Family Homes are Hot Investments

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Toronto andGlobal Market

Review

A home inspection can A home inspection is a spare you from surprises visual examination of the after you buy. After crunch- structure and systems of your ing the numbers, searching home. A typical inspection your favorite neighborhoods, covers the electrical, heating and weighing the pros and and air-conditioning sys-cons of each property you've tems; plumbing; roof; seen, you've chosen a house interior walls and ceilings; that seems like the perfect fit insulation; windows; doors; for you. While it may be fireplace and chimney; "perfect" when it comes to appliances; and foundation. location, price, or features, it's Keep in mind if an inspector now time for you to find out about the cannot access a particular area, such as a home's imperfections before you hand very steep roof or an attic overflowing over your hard-earned cash. with heavy boxes, he likely won't be

able to inspect it and is not necessarily No matter how much time you spend obligated to do so.looking over the home, you're probably

not qualified to perform an assessment Why should I get an inspection?of every aspect of it before you commit Once you're armed with an inspec-to its purchase. Houses are composed of tion report from a qualified inspector, many complicated components, such as you can make a more informed decision heating and cooling systems, electrical about purchasing, which may mean you wiring, plumbing, a roof, siding and proceed with the transaction as planned, much more. A licensed home inspector ask the seller to make some repairs or can provide a good assessment of the concessions or terminate the sales overall condition of the house and its contract.parts. As a buyer, here's what you need Sometimes a seller will perform his to know about getting a home inspec- or her own inspection to provide tion. information to potential buyers. Even if

What is a home inspection? a seller already has per-

Realtor View: in 'Perfect' Home

Inspections May Find The Imperfections

with prices averaging $350,540 and $279,483 respectively.

Average condo buyer, today, is a young professional or an investor. Young professional is usually a first time buyer looking for a place to live in closer to the work place. The investor's motive is usually quick profit or rent. In the present market, there is no chance for quick profit but scope for rent is high..

The average rental apartment vacancy rate in Canada's 35 major centres1 decreased slightly to 2.3 per cent in April 2012, from 2.5 per cent in April 2011, according to the spring Rental Market Survey2 released by Canada Mortgage and Housing Corporation (CMHC). The lowest rates

were in Regina (1.1 per cent), Winnipeg (1.5 per cent) and Thunder Bay and Toronto (3.1 per cent in each).

PAGESNews & ViewsDigest

By Wayne Stroman,2012 HAR Chairman

>>Cont. Pg.2

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10 DECEMBER 2012MONEYDREAMS &

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Insure your dreams

You acquire a vision, listening to a music which based on your dreams. consoles your soul, doing Vision is a big picture. It is yoga, meditation, working what you see yourself as in out an exercise in a gym, the future. Dream is a fluid going for a long walk, state; vision is a semi solid reading a lovely book, state. Put your vision on watching a favorite TV the paper. Now it becomes program for a limited time your future plan or goal, a or any other thing.solid state. Set some Also follow the 3 Ps : milestones to reach your Patience, Persistence and dream destination. Now Perspiration (Hard work) you are all ready to start Remember to have an your dream journey. Enjoy appointment with yourself the whole process. for yourself. Your dreams

Happiness does not lie at reaching the and goals are as important as anything destination only; it lies at enjoying the else. Don’t relegate them to the back in whole process or journey. preference to others. If you don’t give

importance to your dreams and goals, Biggest roadblock to achieve your who else will give? Put the required dreams is yourself; your own doubts. effort and time for realizing your goal. It You may have good days and bad days. is not like one at the cost of another. Have On bad days, your dreams will become a time for every thing. It includes the time question mark. Dream is like a child. to relax and enjoy with your loved ones. Don’t kill it on a bad day. Nurture it. If Have a clear plan on when and what to do you nurture it now, it will take care of you (and/or not to do). Simple “to do “lists later on.will bring wonders and desired changes When you have bad times avoid in your life.association with negative things, people

Any change takes time. Have faith and situations. Keep yourself away from and patience. Be persistent in what you energy drainers. Get yourself surrounded are doing. Always believe that you will by as many positive things, positive succeed. In due course, you yourself will people and positive situations as be surprised about the changes that are possible. It could be part of a like minded taking place around you.discussion forum, getting advice and

comfort from a loved one/mentor, Don’t worry about what

HOW TO NURTURE YOUR DREAMSWeekly Statistics Canada News

>>Cont. Pg.4

Realtor View: Inspections... uncovered by the inspector. And if you inspector recommendations and follow finds a problem with a house's wiring, find something you can't live with, you're up with some research of your own. call an electrician. You can get an From Pg.1within your rights to terminate the estimate of the cost and severity of the After you've determined a potential formed an inspection, it might be in contract without penalty. Your Realtor repair, and decide how to proceed with inspector is licensed, make sure you ask your best interest to have a buyer's can advise you about the timing of your your purchase. Watch out for any questions about his fees, a list of items inspection completed.home inspection and answer any inspector who finds a plumbing problem included or not included in the inspec-When should I have the inspection? questions you have about the termination and immediately tells you he's a licensed tion, and if you can attend the inspection.

You will want to contact a home option in your contract. plumber.Your Realtor can help you decide what inspector right after you sign a purchase The time to find an inspector, though, other questions might be worth asking for Wayne Stroman of Stroman Realty contract. That way you can schedule the is before you sign a contract on a house. your particular situation. Inc. is the 2012 chair of the Houston inspection before the contract's termina- Make sure you identify at least two Association of Realtors.A home inspector's job is to find tion option period expires. This approach inspectors in case one is unavailable. Ask (source: chron.com)problems, not fix them. If your inspector enables you to follow up on any problems friends, family and your Realtor for their

Employment RoseFollowing little change in October, employment

rose by 59,000 in November, the result of an increase in full-time work. The unemployment rate declined 0.2 percentage points to 7.2%.

Labour productivity fell

The labour productivity of Canadian businesses fell 0.5% in the third quarter, following a 0.6% decline the

previous quarter. It was the second consecutive decrease after three quarterly gains.

The Industrial Product Price Index (IPPI)

Ÿ The Industrial Product Price Index (IPPI) was down 0.1% in October compared with September.

Ÿ The largest contributor to the IPPI decrease in October was petroleum and coal products (-1.1%). General price declines were observed for gasoline and fuel oil products, especially gasoline, which was down for the first time in four months.

Ÿ Compared with October 2011, the IPPI was down 0.2%, its third consecutive year-over-year decline.

Ÿ After posting three consecutive monthly increases, the Raw Materials Price Index (RMPI) was unchanged in October. The decline in non-ferrous metals was offset by increases in most commodity groups, particularly mineral fuels.

Ÿ Compared with October 2011, the RM

Building permits

The total value of building permits rose 15.0% to $7.5 billion in October, follow-ing a 12.7% decline in September. The increase was primarily the result of higher construction intentions for non-residential buildings, mostly in Ontario and Quebec.

Contribution of large businesses to GDP

Large businesses, those with 500 employees or more, made the biggest contribu-tion to the growth of gross domestic product (GDP) in Canada's business sector between 2001 and 2008.

Their contribution increased from 45.0% in 2001 to 47.9% in 2008. In contrast, the contribution of small businesses, those with fewer than 100 employees, fell from 41.9% to 40.6%

This is a tip for buyers from Real Estate Council of Ontario (RECO)

Matthews. "In recent years it’s become Items included with the purchase of a You love the house inside and out. It more common to rent elements, like the property are known as chattels. Before has great finishes, roomy spaces and hot water tank, that used to be owned you put in an offer on a property, make lovely lighting. But don’t assume that outright by the homeowner. As a result, sure all chattels are detailed in writing. what you see is what you get.buyers can be stuck with hefty rental As an additional protection, your offer

Buyers are often caught off guard commitments can include a clause stating that the seller

when they find out that the furnace, will pay out any outstanding leases onthat they didn’t expect."heating ducts, water heater, alarm system

the home’s major systems.A registered real estate professional or other things they thought were "part of can help avoid these sort of costly “Buying a house is the most signifi-the house" are not actually included.surprises. In Ontario, real estate profes- cant transaction of your life. By getting "It’s easy to get caught up in the sionals receive expert training and must everything in writing you can ensure that excitement of buying and forget the finer abide by the Real Estate and Business you’ll start off right," says Matthews.details," says Real Estate Council of Brokers Act, 2002 (REBBA 2002).Ontario (RECO) Deputy Registrar Bruce

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10 DECEMBER 2012MONEYDREAMS & Housing MarketDEBT

Dreams and Money takes care to present all the information as accurately and efficiently as possible. Any advice or recommendation appearing in the paper is also part of information only. They should not be construed as an expert opinion. Please note that no representation or warranty with respect to the accuracy or the completeness of the information is given. Information always keeps changing. Hence all the information, including advice and recommendations are to be treated as of general nature only. For your specific circumstances, you are always advised to consult an expert before acting on any information.

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Editor & Technical AdvisorAishwar Muthuraman

however is that the average selling price was up 1.6 per cent at $485,328, com-

Home sales in GTA continue to pared with $477,582 in November 2011.decline since June 2012 . This is based The share of detached homes over $1 on the comparison to 2011 sales figures million was down in Novemberas reported by Toronto REALTORS®.

Will prices crash?Peak of sales was reached in May 2012.

I don’t think so. In my view, sellers Greater Toronto REALTORS®

are delaying their sales and qualified reported 10,850 transactions through the

buyers are looking for bargains. TorontoMLS System in May 2012 – an

Many aspiring first time buyers are 11 per cent increase over the 9,766 sales

finding it difficult to qualify for in May 2011.

mortgage under the new mortgage Here’s a summary of sales growth in rules. That’s all.

percentage month wise.--Jan 2012 to However, please note that this is a general May 2012. trend for GTA. Sales and price trend for your

neighbourhood may be different from the So, November home sales in GTA general trend. If you are curious to know the

fell 16 per cent compared with a year ago trend for your neighbourhood, let me know. Home sales in the Greater Toronto (Phone or email

Area totalled 5,793 for November, down perrii@perrii.com) I can help you.from 6,908 a year ago. The silver lining,

416 473 6100

unsolicited articles are welcomeselected ones will be publishedemail : editor@dreamsandmoney.com

& community news

Copyright © 2010 Dreams and Money, Canada. All Rights Reserved.

At Dreams & Money, we want to help people lead happy lives. We want to help people reach their dreams. A lot of dreams in the world require financial awareness and proper planning to bring to fruition. To get this financial knowledge can be challenging. We realize this, and want to make this process simpler.

We will bring you financial news happening around you that impacts you, along with timeless classics on topics like financial planning, life skills, health etc. to help you grow all around to reach your dreams.

If you are someone who shares this same passion, and think you can contribute to us in any way (writing articles, spreading the message etc.), please let us know. We’ll be happy to hear from you.

THE MISSION

Home Sales in GTA Continue to FallFrom Perrii’s Blog: www.perrii.com

2012 %Growth ActualHomes sold

January +8.8 4,567

February +16.0 7,032

March +8.0 9,690

April +18.0 10350

May +11.0 10850

This positive trend changed and negative trend set in since June 2012.

June -5.4 9422

July -1.5 7570

August -12.5 6418

September-21.0 5879

October -7.1 6896

November-16.0 5793(Source: TREB)

Chattels and Rentals – Know What’s Included in a Sale

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10 DECEMBER 2012MONEYDREAMS & INVESTING

Review Of Global Markets

Review of Indian markets

Weekly outlook – week begins from 10 December 2012

nations, from 6.1% to 6%. It also revised downward the 6.7% growth outlook for Global markets traded volatile during 2013 to 6.6%. the week as investors risk appetite

propelled by growing speculation of The European Central Bank left its further monetary easing from central key lending rate unchanged at 0.75% and banks coming month after ECB slashed held its deposit rate, which it pays on its economic growth projections for the funds left overnight with the institution, 17-member euro zone and Asian at 0%, as expected. Development Bank downgraded growth The Bank of England left its key rates for developing Asian economies. lending rate unchanged at a record low Adding to bull, data showed that jobless 0.5% where it has stood since March claims in the United States fell last week 2009 and made no changes to its 375 after three weeks of higher figures billion-pound ($603.5 billion) asset-caused by superstorm Sandy. However, purchase program, as was expected. broader upside move across the regional An earthquake of magnitude 7.3 markets were limited amidst caution struck off the northeast coast of Japan on ahead of closely watched U.S. non-farm Friday afternoon, triggering a 1-meter payroll data, as well as ongoing concerns tsunami warning. The tsunami warning about the looming fiscal cliff in was lifted shortly. There were no reports Washington. Hopes that the European of causalities or major damage. economy will soon recover were dashed on Friday, as the region's powerhouse, Germany, downgraded growth forecasts for 2013. Comments from China's new leaders that they would continue their supportive policy stance supported European market trend

Speculation about further interest rate cut in the coming months from the European Central Bank resurfaced after ECB's Chief forecasted on Thursday that the Euro zone would continue to contract Indian Market rose during the week next year and only return to growth in after the UPA government won the vote 2014. ECB President said the euro zone on foreign direct investment in multi-economy will shrink by 0.3% in 2013, brand retail in both the houses of reversing a September projection of 0.5- Parliament. The market gained in 3 out of per-cent growth, and to shrink by 0.3% to 5 trading sessions in the week just gone 0.9% in 2013. The ECB expects the euro by. Data showing that foreign institu-zone economy to return to growth only in tional investors remained net buyers of 2014, expanding between 0.2% and Indian stocks boosted sentiment. Sensex 2.2%. rose 0.44% to 19424.10 and Nifty rose

The Asian Development Bank also 0.46% to 5907.4 in the week ended 7 took a trick from the ECB and down- December 2012. graded growth rates for developing Asian economies on Friday. The ADB slashed its 2012 growth forecast for

Market may follow the proceedings developing Asia, which comprises 45

disruption caused by Hurricane Sandy.

Another key event is a two-day meeting of the Federal Open Market Committee (FOMC) on interest rates in the United States on 11-12 December. of the ongoing winter session of parlia-Investors are keeping watch on the fiscal ment. Macro economic data and FOMC cliff negotiations in Washington to see if meeting would be focused. Data on Q3 lawmakers can reach a deal to avoid a advance tax paid by key Indian compa-series of spending cuts and tax hikes due nies will start trickling from Saturday, 15 to come into effect on January 1.December 2012, providing cues of their

financial performance for Q3 December The Bank of Japan's two-day policy 2012 meeting on Dec. 19 and 20 will take

place after general elections on Dec. 16. The Central Statistical Organization (CSO) will unveil industrial ouput data While result season begins, compa-for October 2012 on Wednesday, 12 nies with strong fundamentals rose on December 2012. expectation future growth. Investors can

earn return in two ways from such On the political front, assembly polls companies viz, dividend income and will be held in Gujarat in two phases on return from price movement in the 13 and 17 December 2012. Counting of market. We provide real time training to votes of assembly elections in Gujarat identify growth prospectus companies and Himachal Pradesh (HP) Pradesh will with high dividend yield. We also take place on the same day on 20 provide professional services to manage December 2012. Assembly polls were your investment portfolio in a prudent held in HP on 4 November 2012. way.Asian markets will on Monday react

to the influential US non-farms payroll data which will be unveiled on Friday. The data will likely be clouded by the

Further details: shekarm@indiafinancebazaar.com www.indiafinancebazaar.com |www.ifmaonline.com

Ph : +91 9380034431/9962534431

M.Shekar

Global Indian Market and Weekly Review - Week Ended 7 December 2012

TSX is FlatTSX Trend From Dec.3, 2012 to Dec.7, 2012

TSX Trend From Dec.9, 2011 to Dec.7, 2012

The S&P/TSX composite index closed at 12,159.77 while the TSX Venture Exchange at 1,186.06. The S&P 500 closed at 1418.07 and the blue-chip Dow Jones industrial average closed at 13,155.13,

Statistics Canada reported the economy added 59,000 jobs last month and the report was significantly better. Similarly, the U.S. Labor Department also reported better than expected unemployment rate. It fell to a four-year low of 7.7 per cent in November, while employers added 146,000 jobs.in the US.

The gold sector led TSX advancers Friday, The base metals sector led decliners and the energy sector was also down.

Source : Yahoo Finance

How To Nurture Your Dreams sales person. If a competitor’s product is really good, accept it and acknowledge From Pg.2it. If you don’t tell the truth, some one others think or say. Learn to differentiate else will. What is at stake is “your good and bad. If something is good, integrity”.don’t hesitate to absorb it and make it

You want to progress; but if you are part of your habit or plan.on the wrong road, progress means doing If things are not happening the way an about turn and walking to the right you want, don’t change the plan or your road. The person who turns back to the dream, but change your actions. Review right road soonest, progresses the most.everything and do things differently.

What holds you now?You would have heard that Edison Is it not a time to crystallize your failed 10000 times before he made the

dreams and goals?light bulb. Don’t be discouraged, if you fail few times. It’s okay to fail. But don’t Ÿ Make a plan for achieving your dreams.forget to try one more time. Let fear of Ÿ Set a deadline.failure not hold you. Fears are nothing

Ÿ Remember the 3 Ps : Patience, persis-more than a state of mind. tence and Perspiration.

As some one said, “nothing that you Ÿ Disregard obstacles and other people’s

have not given away will ever be really criticism.yours”. Be generous in giving to others.

Ÿ Carry out your plan with supreme Give first what you want to receive. If confidence and determination.you need help, come forward to help Ÿ As and when you achieve your mile-others. If you need other’s attention and stones in the journey, celebrate all such time, be generous in giving your time small successes.and attention to others. If you need

money, be generous in supporting needy Ÿ Finally, you are not limited by your others with in your means. abilities but by your vision.

Don’t hesitate to show your empathy I wish you all the best for your dreams and sympathy when and where it is to come true; live the life of your dreamsneeded. Speak the truth, even if you are a