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Okay! Okay! The HST was voted into law yesterday...we now have to live with it. We can work on the details by pressuring the politicians to soften the blow that is going to hit the Housing market, both new and resale. I think this will cause a serious jump in closings before June 18, when the law says currently that the HST will apply. If you are planning to buy a new home over $400,000 or if you are planning on selling, start NOW in planning and list in ealy 2010, as, in my opinion, the sellers and buyers will be out there in force. The buyers should be aware that as the day grows nearer, the sellers will adjust the prices to reflect the new reality. Today's word is, now that it is a fact of law "Deal with it!" (ok, three words..)
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I was at a meeting yesterday where the new HST for Ontario was explained. Although the tax is not finalized, I can see that in my opinion the tax will have a huge negative effect on the new housing market as well as the resale home market. The new homes over $400,000 will be hardest hit, as the tax on them will go up 160% for every dollar over the $400,000 mark...that seems a bit excessive in my books. Ontarians have to let the government know this is unacceptable. The effect on our fees is also an increase of 160% on the tax portion...what a bonanza in the real estate field alone for the tax collectors. The tax is not all bad, as it will reduce the Provincial tax administration costs, and will allow HST deductions on things businesses were not allowed an ITC (input tax credit) before. I think from an administrative point of view, doing away with the two tax system (not including Income Taxes, Municipal Taxes, User Fees, Fines, etc. etc.) is a good idea, as I am not a fan of Bureaucracy.
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STEEL roof
• 1 bath, 2 bdrm single story
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MLS®
$119,900
- Reduced to SELL
Centre Mall Area, Hamilton
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First time Buyers' delight!
• 1 bath, 4 bdrm single story
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MLS®
SALE PENDING
$159,899
Central, Hamilton
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This 4 bedroom semi has charm, is affordable and shows well. SS fridge and stove, built in dishwasher, microwave incuded. Hardwood floors, exposed brick, granite countertop, landscaped yard, newer roof, including sheathing, shed...hey I,m runnign out of room here...just come and see it.
Room sizes approximate.
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Clean and Bright
• 2 bath, 3 bdrm 2 story
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MLS®
$189,555
Hamilton West, Hamilton
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Clean, bright 3+1 br family home/great investment. Buy and move in.Walk to Copps, shopping, Southern Ontario College etc. Furnace 2000, mostly newer windows, reshingled and masonry @ chimney in 2006. Some extensive water resistant work done for basement. Ceramics and laminate. Close to 403 for commute. Room sizes approximate.
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Re Finished
• 1 bath, 2 bdrm single story
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MLS®
$44,900
- Cheaper than RENT!!...
Forks Road, Wainfleet
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Newly renovated throughout, this mobile home sits in a quiet year round park, backing onto fields.. New kitchen gleams. 12x16 screened porch, mudroom, newer flooring. Mgmt approval req'd. RSA. No sense renting...see this home and buy now while mtg. rates are good.
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