Final Market Results 2012 Toronto Real Estate Board

The Toronto Real Estate Board announced at this time of writing the average selling price for a home sold in 2102 was up by almost 7% from 2011. Price growth was the highest for singles, semis and townhomes despite a dip in sales during the second half of 2012. Market conditions remain tight for these types of homes with substantial competition between buyers. I will expect similiar strong demand in 2013 for these types of homes.

The Tax Free Savings Account

Saving for a new home just got $500 easier. On Jan. 1, 2013, the contribution limit for Tax Free Savings Accounts (TFSA) rose to $5,500 annually. The maximum that you can currently contribute is now $25,500.00. The interest earned is in addition to.

TFSAs are a great way to save. Until 2009, when TFSAs were introduced, many people put together the down payment for their first home by withdrawing money from their RRSPs under the Home Buyers Plan (HBP.)

The HBP is a huge drag on retirement savings. Today, you can withdraw up to $25,000 from your RRSP to buy a first home, and then return it to your account over 15 years. The problem lies with the payback.

The $500 contribution increase to TFSAs starting in 2013 isn’t a huge amount in the scheme of things. However, the announcement serves to highlight the utility of TFSAs as a superior down payment savings tool.

Navigating The Winter Sky!

Winter evenings does show of the most brilliant stars that the skies have to offer. Six stars from different constellations form a spectacular grouping called the "Winter Hexagon" which dominates  the southern section of the sky. A great starting point to begin learning from. Keep in mind from night to night the sky shifts slightly west at the same time each evening.
 Sirius, the brightest of all stars visible from Earth. It marks the constellation Canis Major, the Great Dog. You can easily find this white coloured star by following the line of 3 stars that form Orion the Hunter\'s belt eastward (left). The second point in the Hexagon is the white star Procyon which marks the constellation Canis Minor. Next are two dominating stars of equal brightness, Castor and Pollux side-by-side, representing the heads of the Gemini Twins.
The fifth point is Capella, shining with a hint of golden-yellow in the constellation of Auriga, the Charioteer. Following Orion's belt up and westward (right), leads us to the next star of Hexagon. Aldeberan, glittering orange-yellow which marks the eye of Taurus, the Bull. The brightest object near Aldeberan is Jupiter, a great place to begin finding your night sky bearings.
 Finally completing the tour is the brilliant blue-white star Rigel of Orion. In my opinion on average, the evening winter skies are the most brilliant and clear.

Click this link for a sketch.


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