Canada Mortgage and Housing Corp.’s latest survey of Canada’s rental markets yields some surprising finds and some long-term winners.

And, as Peter Mitham discovers, rental housing is a hot topic across Canada as house prices rise above what many people can afford, prompting first-time homebuyers to defer a purchase. Add in economic uncertainties, and both tenants and landlords want a property that makes the best use of their money.

For landlords, however, cash flow remains king. Some perennially tight markets, like Vancouver, have been in vogue with foreign investors who see good long-term potential in a market where new apartment blocks aren’t being built.

Many other markets in Canada are also seeing the purpose-built rental stock shrinking. (The total number of purpose-built rental units in Canada actually increased by 5,648 units last year, however.)

But if Vancouver is a good long-term play, it didn’t – surprisingly – show the most dramatic increases in average rents last year nor did vacancies plummet significantly. Nor did Montreal or many other of the usual suspects.

The cities that showed the most potential to investors were those in transition, or on the fringes of tight markets. Suburbs of Montreal, the resource-driven economies of the Prairies that got a boost from resurgent oil and gas exploration last year, the rustbelt towns of southern Ontario were all where the opportunity was – and may well continue to be – through 2012.

What follows is a series of vignettes of some of the opportunities and markets that repeatedly surface when the numbers from Canada Mortgage and Housing Corp.’s latest Rental Market Statistics publication are crunched and sorted.

The community profiles look at trends in vacancies and monthly rents in each area; the charts and tables show how the communities stack up on a national scale.

A wealth of additional information for each province and what the statisticians term “Census Metropolitan Areas” is available online at www.cmhc.ca, but the following offers a glimpse of what lies ahead for 2012, based on what happened in 2011.

Alberta
Brooks
Home to meat packing plants that have attracted hundreds of new residents, Brooks is one side of Alberta’s booming economy. But with falling vacancies and a shrinking rental stock, the rental market is approaching that of a larger centre such as Edmonton. Vacancies were down 17% in 2011, hitting 7.3%, while total units dipped 1.1%. With approximately 28.5% of local residents renting, this trend poises the market to be a prime spot for landlords to serve a growing need.

Calgary
Housing is perpetually tight in Calgary, the power centre of Alberta’s oil sector. Construction of new office towers and the companies tenanting those same towers have created jobs that continue to draw people to the province. The city saw vacancies drop 44.4% in 2011, hitting 2% -- one of the lowest rates in the country. Meanwhile, the total number of units available to rent also slipped, boosting upward pressure on rents. The greatest increases were seen on one-bedroom units, which rent for an average of $899 a month, and two-bedroom units, now $1,078 a month.

Canmore
Despite a boom in new housing, Canmore hasn’t kept up with demand from renters. Close enough to Banff to be a retreat from Calgary and a home for resort workers, Canmore offers just 131 purpose-built rental units and the lowest vacancy rate in the county – 0. Demand for new rental units is strong enough to snap up anything that does come along; there were two units vacant last year, and none now. Rents for current listings are frequently in excess of a $1,000 a month, even for one-bedroom suites.

Edmonton
The academic and political hub of Alberta, Edmonton benefits from schools and hospitals that keep the rental market thriving. Despite the dubious distinction of being tops in Canada for homicides, Edmonton’s resilient rental market saw rents post stronger growth than in Calgary in 2011. A one-bedroom unit now commands and average of $857 a month, while two-bedroom units command $1,037 a month. Vacancies have dropped from 4.1% to 3.3% – a trend set to continue in step with demand for oil and gas exploration and other resource sector activities.

Grande Prairie
A jewel of Northern Alberta, Grande Prairie posted the strongest growth in one-bedroom rents of any market in Canada last year at 7%. Rents may not be the most expensive in the country, at $763 a month, but with vacancies sitting at 3.5% -- down 66.3% from last year – builders are moving to feed demand. Oil and gas sector activity is driving tenant demand, with Grande Prairie conveniently located between Edmonton and the Peace River oil and gas fields of northeastern British Columbia.

Lacombe
Located just north of Red Deer, this bustling Central Alberta town doubles as a suburb of Red Deer and a bedroom community for Edmonton, a 90-minute drive north. But with purpose-built rentals declining and vacancies half what they were a year ago, the upside for landlords is clear. Upward pressure on rents looms for residents who want to be centrally located in one of the country’s strongest job markets as vacancies move south of 5.6% and supply tightens.

Lethbridge 
A university town on one of the main east-west routes across Canada’s Prairie provinces, Lethbridge enjoys a small-town feel in a beautiful setting. Rents posted some of the strongest growth of any market in Canada in 2011, thanks to the city’s post-secondary institutions and a welcoming climate for seniors. The population grew 1.4% to 87,882 last year, with the average age being 37. A one-bedroom apartment now rents for an average of $758 a month, while a two-bedroom apartment commands $851 a month.

Lloydminster
Located in Alberta for statistical purposes, this city’s tight rental market straddles the Alberta-Saskatchewan border and includes the adjacent towns of Lashburn and Marshall, both in Saskatchewan. Oil, gas and agriculture and big business here. The town is home to the Lloydminster upgrader, which has benefited from oil sands development, and plans are afoot for a biodiesel plant. Landlords, in turn, have seen vacancies plummet 69% over the past year – more than Grande Prairie, with which Lloydminster shares a 3.5% vacancy rate – and rents have strengthened accordingly. The city’s Alberta side has tended to see stronger population growth than its Saskatchewan side, but the city’s population has consistently posted double-digit rates of growth since the 1970s.

Okotoks
This bedroom community south of Calgary has benefitted from its neighbour’s boom, with strong demand from tenants seeking a place close enough to the city but beyond its shadow. Similar to Canmore, it is one of a handful of communities where vacancies dropped 100% in 2011. While the availability rate stands at 3.9%, any units that do become available are typically snapped up quickly. With no changes in stock, this is likely to continue for the foreseeable future. Posted rents start at approximately $1,200 a month for duplexes and townhomes.

Red Deer
This fast-growing city located between Edmonton and Calgary is a hub in its own right for central Alberta. A service centre with a stable industrial base, the city is a bedroom community for the province’s largest cities with an economy of its own providing local employment. Vacancies sit at 2.9%, down 60% from a year ago. This poises rents to reverse a decline seen most significantly in studio apartments; family-oriented units have remained the most resilient, with units of two bedrooms or posting modest gains. A one-bedroom suite rents for $694 a month, down slightly from a year ago, while two-bedroom units average $827 a month and larger units commend $949 a month.

Wetaskiwin
Wetaskiwin may be off the Highway 2, but this has helped make it a desirable bedroom community for Edmonton, with the added bonus of being closer to the city’s international airport than Fort Saskatchewan, St. Albert and communities to the north of the city. Combined with rising absorption and a declining stock of rental housing, the city is a stable long-term play for savvy investors as Edmonton continues to grow south. Approximately 35.6% of Wetaskiwin residents rent. Vacancies average 6.4%, while current listings peg one-bedroom apartments at $700 a month and up.

British Columbia
Courtenay
Vancouver Island’s laid-back lifestyle helps support the rental market in Courtenay, which is moving from a resource-based economy to one driven by tourism and supported by the military base CFB Comox. A popular destination for retirees, approximately a fifth of the population is seniors. Vacancies in Courtenay have continued to tighten even as the rental stock as declined, and now average 3.5%. The market is stable, but the demand for new homes will continue to exert pressure on the existing purpose-built rental stock, primarily older buildings. 

Fort St. John
Oil and gas exploration drive rental activity in Fort St. John and nearby Dawson Creek, which enjoys similar conditions in its rental market. Northern Lights College in Fort St. John broadens the city’s appeal to newcomers, including a number of foreign students who come to pursue English and other studies. Renewed interest in the resource sector in 2011 helped cut vacancies to 5.1%, even as the existing rental stock fell by approximately 40 units. Posted rents for one-bedroom apartments are in the range of $850 a month.

Kitimat
The question investors face looking at Kitimat is whether or not it’s too late to jump in: Once the poster child for down-at-the-heel northern communities, Kitimat saw a stunning 82.1% drop in vacancies from 30.2% to 5.4%. The trend, linked to the upgrade of Rio Tinto Alcan’s aluminum smelter, is set to continue as plans for a Liquefied Natural Gas (LNG) terminal proceed. The jobs promise to reverse years of declining population, and bodes well for what is emerging as a boom-time rental market with new rental units already being built to meet demand.

Manitoba
Portage La Prairie
With vacancies sitting at 1.3%, tighter than major cities such as Vancouver, Portage la Prairie landlords are enjoying good times. Driven by investment in local potato processing plants and retail developments, the city is becoming a southern Manitoba hub and attracting new residents. Rental stock is also tightening, as developers move to build new homes to accommodate newcomers, further boosting landlords’ fortunes. It’s a positive shift from two years ago, when some observers touted the city as one of the worst places in the country to live.

Thompson
The so-called “Hub of the North” may seem a surprising play for landlords, but Thompson is one of a handful of communities in Canada that saw vacancies drop 100% in the past year. In addition, the city’s total rental stock dropped 4%, adding further pressure to the market. Drivers of demand include the Vale Inco nickel operations and the Wuskwatim hydro project (set to complete this year). The city remains a retail and service centre for northern Manitoba, with a shortage of affordable housing.

Winnipeg 
Manitoba’s capital can’t help but see steady demand, thanks to government and post-secondary institutions, and a resurgent financial sector. Winnipeg has attracted new residents seeking good quality housing, driving up rents in consequence as older units are upgraded or replaced by new units. Vacancies sit at 1.1%, driving up rents for one-bedroom units by 4.3% and 4.5% for two-bedroom units. Studio apartments have seen the greatest increase at 7.2% to $522 a month. A two-bedroom suite commands $874 a month. 

New Brunswick
Fredericton 
While subject to the comings and goings of students enrolled at the University of New Brunswick and St. Thomas, among other schools, Fredericton also enjoys a strong government presence and central location that makes it a prime location for companies doing business across New Brunswick. Proximity to the U.S. border is also an advantage. A one-bedroom unit rose 3.9% last year, and now rents for an average of $637 a month. The increase occurred despite relatively stable vacancies market-wide of just 2.4%. Two-bedroom units command $755, while houses rent for an average of $1,005 a month.

Saint John
Canada’s oldest incorporated city is banking on shipbuilding, one of the city’s historic industries, to bolster its fortunes. A new naval contract recently awarded to Irving Shipbuilding will boost employment at its Saint John yards, while the energy sector has also boosted employment in the traditionally working class city. Two-bedroom units here saw one of the country’s biggest rent increases last year, rising 3.7% to $670 a month. While vacancies increased market-wide to 5.9%, employment growth in the coming years promises to lower that figure significantly.

Newfoundland and Labrador
Grand Falls-Windsor
Declining vacancies and new construction flags Grand Falls-Windsor as a centre worth attention. A company town from the start, it was hit hard by the closure of the local pulp mill in 2009. Nevertheless, vacancies dropped 45.5% in 2011 to bottom out at an exceedingly tight 0.6%, even as purpose-built rental units expanded the stock 3.1% to 661 units. That leaves four units available for newcomers to rent, and opportunities for investors to provide new supply.

St. John's 
As in many other provincial capitals, government employment and post-secondary institutions have kept rents rising in the upper end of the market. St. John’s posted the biggest gain in two-bedroom rents of any city in Canada last year, with units commanding an average of $770 a month – up 6.5% from 2010. Three-bedroom-plus accommodation also posted a respectable 4.9% increase over the previous year. Although vacancies are trending higher, they’re still tight at 1.5% city-wide. This is a stable market with rock-solid fundamentals.

Nova Scotia
Halifax 
Government, hospitals, universities, a strong military presence and a port: What more could this capital city want? Vacancies average a respectable 2.4%, but with the awarding of a new naval shipbuilding contract to local dockyards, expect demand for housing – rental and otherwise – to intensify in the coming years. This promises to put upward pressure on rents, which are already enjoying significant year-over-year gains relative to the rest of Canada. Rents for studios rose 6% in 2011 to reach $670 a month, while two-bedroom units saw rents increase 3.8% to top $925 a month. 

Ontario
Barrie
One of the fastest-growing metropolitan areas in Ontario, Barrie can attribute much of its growth to that of Toronto, 90 kilometres south. It effectively serves as a bedroom community of the larger metropolis, with a third of its residents commuting outside the municipality for work. Rental vacancies dropped 43.8% in 2011, and with minimal additions to the rental stock, tenant demand should continue to boost rents for select housing types. While one bedroom rents rose 3.9% last year to $884 a month, one of the biggest increases in the country, units of three bedrooms and more were unchanged at $1,120 a month and studio rents actually fell 1.3%.

Belleville 
The city’s industrial base is complemented by proximity to CFB Trenton and several post-secondary and penal institutions in Kingston, an hour’s drive east. Vacancies average 3.6%, but rents for one- and two-bedroom apartments have posted increases that put them in the top-10 nationwide. One-bedroom apartments rent for an average of $735 a month, up 4.4% from last year, while two-bedroom suites lease for $840 a month, up just 3.7% from last year. 

Brantford
The last half of the 20th century was not kind to Brantford, but with vacancies down 53.8% in 2011 it has given landlords cause for cheer. Small additions to the rental stock underscore investor interest, driven by the presence of some large industrial concerns and proximity to Toronto. A bedroom community with jobs of its own to offer residents, it is bolstering its ability to weather economic storms. Studio rents posted the second-biggest increase of any metropolitan area in Canada last year, hitting $654 a month – a 10.5% increase from 2010. One-bedroom rents rose 4.5% to $726 a month. 

Cobourg
Beautification of the Lake Ontario waterfront has boosted the livability of Cobourg, which enjoys a prime position between Toronto and Kingston with good highway access and other transportation connections. Small surprise, then, that rental vacancies average 1.9%, down 26.3% from last year. Primarily a residential community, Cobourg’s economy is underpinned by agriculture and food, tourism and more recently the Cobourg Innovation Centre’s focus on environmental technology  companies.

Greater Sudbury 
Sudbury, known to generations of school children for its giant nickel, now claims fame for rents rising faster than the rate of inflation. All classes of rental housing saw rising rates this past year, while vacancies were stable at 2.7%. Studios posted the greatest increase of any class, at 5.9% ($540 a month). One- and two-bedroom units posted more modest gains of 3.5% and 4.8%, respectively, with rents of $712 and $887 a month. Average rent on single-family homes run $946 a month. Diversification away from mining has emphasized the city’s role as an administrative and service centre for Northern Ontario.

Guelph
Guelph is close enough to Toronto to serve as a bedroom community, but its eponymous university also provides a stable base of institutional jobs and government-funded research programs. Auto parts manufacturer Linamar is the city’s single-biggest employer, helping keep the local unemployment rate among the lowest in Canada. The various enterprises supports a rental market catering to students and residents connected to the city’s institutions. Rental vacancies fell 62.5% last year, hitting 1.2%, a trend that promises upward pressure on rents which spent the last year lagging the inflation rate.

Talk to real-estate agents, and most express disbelief at how the Toronto market keeps defying the doomsayers month after month.

What’s fuelling it? Those bargain-basement mortgage rates keep affordability in line, even as prices have risen, says Toronto Real Estate Board analyst Jason Mercer.

Factor in the number of potential buyers per house, and you’ve got a recipe for price hikes. Mercer says recent sales totals projected annually could make 2012 the second-best year on record (after 2007), even as listings have lagged.

Related: How to win a real estate bidding war 

There is also a rush of foreign money looking for security, as trouble spots multiply overseas. Re/Max Realtron broker Bill Thom says his immigration consultant friends are reporting new interest from the well-heeled in Greece, Italy and Spain, and real-estate board president Richard Silver recently welcomed a visiting group of realtors from India.

But not all neighbourhoods are on the boil. Magnets include (comparatively) affordable prices, good transportation, top-notch public schools and a major dollop of cool.

High-priced houses move slowly. “The real brilliance is in what we would call the lower end, which is around the average of $500,000 now,” says Silver.

Here are five Hogtown hotspots:

East Willowdale/Bayview Village

Who can forget the headline-making story of 300 Dudley Ave. last month. A student, whose family lives in China, bought the bungalow for about $1.18 million, a shocking $421,800 over asking.

Thom knows the area: between Sheppard and Finch, running east from Yonge to the Don River.

He offers another market measure: A bungalow at 59 Forest Grove Dr., on an extra large lot, sold in 2010 for $1.65 million. Just 22 months later, it resold for $2.53 million. No changes: just a hefty $900,000 gain.

Affluent immigrant buyers, mainly from China, Korea and Iran, are drawn to the area. It started with the excellent public schools, such as Earl Haig Secondary, says Thom, but there are other attributes.

The location is close to the subway and major highways, and the original housing stock is uniform: post-war bungalows on large lots, which lend themselves to redevelopment. Properties with “knockdowns” go for about $1.3 million, but with a brand new house, you’re looking at $2.4 to $2.5 million, Thom says.

“I don’t think this is the end of it, because there’s still a lot of money coming in. This area will continue to attract more investment.”

Related: A home closing checklist 

Mimico-New Toronto

Realtor Lynn Tribbling is no doubt biased. She lives in a condo in south Etobicoke’s Humber Bay Shores, with one of the city’s hottest housing markets to the west.

She loves the waterfront, a prime reason for the area’s renaissance. Another draw: it can satisfy a range of buyers, from the cluster of condo towers at the eastern edge to the family-friendly streets of Mimico and New Toronto, with modest older homes, as well as newer townhouse infills on industrial land.

Her survey of 20 recent single-family sales shows the hottest price points are in the $400,000 to $500,000 range on 30-foot lots, where 95 per cent sold over the asking price within days.

“When you get into Mimico,” explains Sutton Group realtor Bill Mohan, “a couple years back we were seeing $359,000, but now $499,000. And they’re still selling, for $510,000, $515,000, $520,000. It’s just affordability. Because everything else has gotten expensive, it’s pushed people into these areas.”

That starts an evolution: “If enough people move into an area, then it’s all of a sudden cool. They’re bringing their friends over there. I’ve always found that has been the trend, the last 10-15 years.”

What’s the future for Mimico, in the doldrums until recently as a low-income industrial area? Planned new condominium projects will boost the population by many thousands, continuing to transform the area’s commercial amenities, even as it poses traffic and transit challenges.

The Junction

One of the strongest year-over-year price hikes took place in the Junction and adjacent neighbourhoods. The real estate board’s “benchmark” prices, which smooth volatility, showed a 16.3-per-cent gain for single-family detached homes ($717,900 in March) and 21.5 per cent for semis ($593,700).

Says Sutton Group’s Bill Mohan: “I was just up there the other day, driving, and I couldn’t believe how many people were out there walking and shopping. That’s what’s changed in the last couple of years. It’s really got a good neighbourhood feel.”

Dundas St., east of Keele, is a striking commercial streetscape, but it languished for years in the lee of polluting industries and the pungent stock yards to the north. Plus, the area was dry until a 1997 referendum.

Now, it has some of the coolest architectural antique and furniture stores in the city, busy coffee shops (including a recently opened Starbucks) and restaurants.

The neighbourhood’s appeal has lit a fire under the railway delineated Junction Triangle to the east, as buyers seek more-affordable options on streets such as Perth and Symington Aves. Not much is available, but some detached houses have recently gone over list in the $500,000s. A Perth Ave. semi is currently listed for $469,000.

Dufferin Grove

Real-estate board president Richard Silver picks this area, bounded on the north by Bloor, running west from Dovercourt Rd., past Lansdowne Ave. to the tracks and south to College and Dundas Sts.

The name, of course, comes from Dufferin Grove Park, where volunteers have built, and are fighting hard to retain, a remarkable array of programs.

It gives the area a strong centre, says Silver, and storefronts along College and Dundas are reinventing themselves, as the population changes.

He says houses in the area, both north and south of College, “are flying off the shelves.”

He just sold a unique 800-square-foot, two-bedroom coach house sitting right at the edge of the park for more than its $549,000 list price. Substantial three-storey semis in the area are selling for $700,000 to $850,000, well above list prices in the high $600,000s.

“Personally, I think the market is driven by the fact that Roncesvalles (super hot, as well) to the west and Little Italy to the east have increased in pricing, making Dufferin Grove seem like the affordable option,” says Silver.

Related:  Why it's still a good time to buy a home

Woodbine Corridor

Here’s another neighbourhood that Silver highlights for rising interest and prices. It’s bounded by Coxwell Ave. and Woodbine, and runs from north of the Danforth to Queen St. E.

Says Silver: “Proximity to the Beach and the Danforth subway are big drivers.”

The housing stock includes more detached homes, (the March “benchmark” price was up almost 11 per cent from a year earlier), as well as the ubiquitous semis.

While the board’s average period on the market is 25 days, homes in this area are snapped up in only 13, Silver says, selling for an average of 102 to 105 per cent of the asking price.

“Years ago, young families chose to move to the 905 when they could no longer afford larger detached houses in the 416,” he points out. “Now, and in the future, because of transportation issues, it will be harder than ever to live in the 905, yet work in the 416.”

You can find some of the classic east-end, two-storey semis in the area priced from a low of $375,000 to $450,000, while a few detached are on the market in the $500,000 range. An older-style, two-storey semi on Moberly, south of the Danforth and west of Woodbine, just sold for 120 per cent of list at $601,000.

Looking outside the city?

As Toronto prices rise, so do those in the suburbs, driven by affordability, lack of inventory, and value for money compared to the city.

WEST: Asked to identify a Mississauga hot spot, Sutton Group agent Cynthia Shaw points to Lorne Park, south of the QEW. A more-affluent family neighbourhood, it includes older homes from the 1950s-‘70s, some of which are being demolished and replaced. She estimates prices are up 25 per cent year over year, but says you’ll still get twice the house and a bigger lot in Lorne Park compared to Toronto’s west end.

EAST: Re/Max broker Mary Roy says the hot spot in Whitby and Ajax is actually a price point: $350,000 to $400,000 for a detached 1,500- to 1,600-sq.-ft. home. Even in this high-demand, first-time-buyer category, prices are only $10,000 to $20,000 ahead of last year, she says.

NORTH: Look for the best schools, and that’s where you find the action. Pierre Elliott Trudeau High School ranks high, and Markham’s Berczy Village feels the impact. Just about every sale in the area draws multiple offers, says Sutton Group agent Martin MacFarlane. He estimates increases over the past year at about 10 per cent. Detached homes range from $550,000 to $1.1 million.

http://www.thestar.com/business/article/1160061--five-housing-hot-spots-in-toronto

Staging has become a common, if not integral, step in the home-selling process, especially as savvy HGTV-fed consumers continue to tune into programs like Designed to Sell, The Stagers and Get it Sold.

“Years ago you could put your house on the market and nobody cared what it looked like,” says Cindy Stocker, a property stylist at Vancouver-based Urban Presentations. “But people are more impressionable these days.”

Blogs, articles and websites are awash in statistics championing the effectiveness of staging. According to Designed to Sell, for example, virtually all houses that are staged sell over asking price, while an AOL Money poll found that 87 per cent of people say home presentation makes a difference in most sales.

In 2011, the Real Estate Staging Association (RESA) found that homes staged prior to listing, as opposed to those staged after sitting on the market, were likely to sell 79 per cent faster.

Of course, some find the idea of paying thousands of dollars to stage a home deplorable, and may argue there’s scant genuine data proving its effectiveness to sell a home. These studies cannot possibly account for the slew of factors that may impede or facilitate a sale, such as market fluctuations, local market conditions, location and the structural condition of a home.

But others view staging as a relatively easy and cost-effective way to make a strong first impression on Realtors’ Multiple Listing Service, to attract more interested buyers and to command a higher purchase price.

And most homeowners would agree that it can be difficult to bring a buyer’s perspective to a property they’ve lived in for years. The mandate of the professional stager, then, is to bring this much-needed fresh set of eyes to ensure that the space appears well maintained and move-in ready to prospective buyers.

Here’s what to expect in terms of services and costs:

Site visit - no cost

Most companies do not charge for the initial meeting, which generally involves a brief 15-minute walk-through of the space. This meeting helps the stager to help determine the estimate.

Consultation - between $75 and $250

During the one-hour consultation, the stager offers advice on curb appeal and then moves room-to-room, pointing out areas that could use improvement, says Anne Bourne, the owner of Toronto-basedStagingWorks. Depending on the company, they will follow up with report of recommendations, or the client will simply take notes during the walk-through and create his or her own do-it-yourself list.

Two to three-hour tweak - $250

This “once over” or “tune-up” service is for people with modest spaces, like condos, to get their places photo-ready. The stagers will use what the client has in the apartment, whether it’s bedding, art or furniture, and suggest ways to improve the flow so that potential buyers can move through the space freely.

The works - from $800 to upwards of $5,000

The cost depends on the size of the space (i.e. 500 sq. ft. condo vs. 3,000 sq. ft. house) and the amount of “fluffing” that is required. If it’s just art, area rugs, lamps and accessories that the home owner needs, the cost will run on the lower end of the scale. But when movers are involved to bring in a new sofa or dining room table, for example, or tradesmen are needed to paint the walls and make repairs, the price can escalate quickly.

Ms. Stoker and Ms. Bourne say the average person will shell out between $2,300 to $2,500 for staging services, rental of furniture for a month and the hiring of a moving company. They also caution against stagers who offer cut-rate prices.

“Often you get what you pay for,” says Ms. Stoker, who recommends getting a couple of quotes on the services or rentals before hiring the company.

The DIY approach

If hiring the pros is not in your cards, here are some quick-and-dirty ways to help you stage your home on a dime:

1. Remove 20 to 50 per cent of furniture and accessories in each room

2. Stick to neutral paint colours on the wall, and add a fresh coat of bright white paint to the baseboards

3. Clean all windows and scrub all floors

3. Pick up a couple of planters and a new welcome mat for your front porch

4. Buy a fresh set of crisp, clean bedding and white fluffy towels for the bathroom

5. Edit your art. If your walls are plastered with wedding or baby photos, go out and buy a couple of works that are a bit more mainstream.

6. Ditch the shoe racks, small book cases or storage pieces. These will give the buyer the impression that space is tight.

7. Freshen things up with flowers and fruit. Ms. Stoker says her team always puts an orchid or greenery in every bathroom and puts a bowl of fruit – lemons, limes, oranges – in the kitchen.

8. Don’t use air fresheners to mask the small of tobacco, dirty laundry, cats or last week’s leftovers. Try using a lemon-scented cleaner, says Ms. Bourne, to help remove unwanted odours.

The pace of Canadian housing starts was brisk in March, with construction of apartments and condos remaining strong — aided by continued low interest rates and unseasonably warm weather.

Canada Mortgage and Housing Corp. estimates in its March report that there were 14,517 actual starts last month, which translates to a seasonally adjusted annual rate of 215,600 units.

The adjusted figure irons out monthly variations and is calculated as if the March starts continued at the same pace for a year.

March's seasonally adjusted rate was up from 205,300 units in February — a five per cent increase.

CIBC World Markets said housing starts were higher than expected.

"Although we expect starts to soften in due course, the latest figures suggests that, for time being, the housing sector still has a considerable amount of energy, aided by low financing costs," CIBC said.

Meanwhile, the CMHC said the increase in March starts was due to a strong increase in multiple-unit starts, particularly in Ontario and the Prairies, partly offset by decreased multiple starts in British Columbia and Quebec.

Single-detached starts decreased marginally across the country. Both components remained well above year-earlier levels, CIBC noted.

Urban starts rose by 4.2 per cent in March to 192,100 units on a seasonally adjusted annual basis.

http://www.cbc.ca/news/business/story/2012/04/11/housing-starts-march.html

 

By Tristin Hopper and John Greenwood

With the penny gone and the triumph of plastic over paper bills only months away, the research and development department of the Royal Canadian Mint has proposed going one step further: the death of hard currency altogether.

Last week, the Mint announced the release of MintChip, a completely digital currency. “Money, as we know it, is fine for today, but tomorrow is a different story,” says an introductory MintChip video. “MintChip is better than cash, since you can use it online.”

MintChip stores value in a physical chip, and transfers money between chips using heavily encrypted “value messages.” The system has no centralized database. “They’re calling it anonymous … their intention is that it’s no more associated with who you are than [traditional] currency,” said Jacqueline Chilton with Glenbrook Partners, a California-based payment consultant.

 

Of course, Ms. Chilton noted there is still the possibility for MintChip-specific apps to covertly record transactions. And, just like physical currency, if “you drop it, it’s gone,” she said.

MintChip can handle any amount of money, but the Mint envisions it as a way to digitize small transactions, like bus fare, a song download or a stick of gum.

 

“The emerging digital economy must be able to accommodate small-value transactions, such as micro transactions (under $10) and nano-transactions (under $1),” said the Mint.

On April 5, the Mint launched the “MintChip challenge” to encourage software developers to come up with creative applications for the technology. The winners, to be selected by a judge’s panel including Mint CEO Ian Bennett and Google’s vice-president of payments, will be awarded the tongue-in-cheek prize of $50,000 in gold, one of the world’s oldest forms of currency.

 

MintChip’s technology — and even its name — is modelled closely on Bitcoin, an electronic cash system launched in 2009. The currency became the darling of hipsters, libertarians and criminals, all of whom liked the idea of using cash not controlled by a government or central bank. In the words of one Bitcoin enthusiast, the service “is not run by people with hot sexual appetites for hotel maids. It is not run by corporations.”

Nevertheless, Bitcoin is prone to wild fluctuations in value, particularly after last June when hackers successfully brought down the world’s largest BitCoin exchange.

On the eve of MintChip’s launch, Marc Brûlé, the Mint’s chief financial officer, went on record denouncing Bitcoin as being constantly on the verge of collapse. “Bitcoin may work for the small group of people that believe in its value, but that could change very suddenly,” he told Reuters. Mr. Brûlé had just returned from a speaking engagement at Digital Money Forum, a U.K.-based gathering of electronic cash developers and consultants capped off with a few rounds of debit-card Monopoly.

 

The entrance of a government player into the frontier of electronic cash is surprising, particularly for Canada, which is notorious for lagging in the currency department.

“Canadians continue to use an outdated payment system not necessarily because they prefer it, but because no viable alternative has been priced and promoted in a way that makes it attractive to use,” said a December federal task force report lambasting the Canadian Payment System.

Devoid of innovation, the system is in danger of being left behind by the European Union and developing countries, reads the report, which was commissioned by Finance Minister Jim Flaherty.

Plastic bills, which the Bank of Canada introduced only five months ago, has been in Australian circulation for nearly 25 years. In Sweden, arguably the world’s most cashless economy, public transit and even some banks have completely phased out coins and bills.

In a recent post, Bitcoin Magazine writer Vitalik Buterin called MintChip “a sign of things to come.” Nevertheless, he questioned MintChip’s security, noting that “unhackable” chips had been hacked in the past with electron microscopes, needles and acid. “Such systems are nothing new, and time has shown them, like all other forms of digital rights management, to be far too insecure to build an economy around,” wrote Mr. Buterin.

 

“The Mint isn’t saying they’re creating a substitute for cash tomorrow — but something that can be used as such in pieces overtime,” said Ms. Chilton. “It probably isn’t for our grandparents, it might not even be for us, it might be for our children.”

National Post, with files from Reuters

http://news.nationalpost.com/2012/04/09/mintchip-royal-canadian-mint/

Easter weekend: what's open and closed

Via: 680News staff The long weekend is here, and as usual, there will be a number of closures around the city.  Below is a list of what's open and closed on Good Friday, Easter Sunday and Easter Monday.

What's open

Eaton Centre is open on Good Friday, but closed on Easter Sunday

Pacific Mall will be open both Good Friday and Easter Sunday

Ontario Science Centre, the Toronto Zoo, CN Tower and Royal Ontario Museum are open for the entire weekend

TTC will run on holiday schedule on Good Friday, while GO Transit will run on a Sunday schedule

The Bay (at Queen and Bay) will be open both Friday and Sunday

What's closed

Square One, Vaughan Mills, Sherway Gardens and Yorkdale shopping centres will be closed on Good Friday and Easter Sunday

Toronto Public Library branches are closed on Easter Sunday and Easter Monday

LCBO and Beer store are closed Good Friday and Easter Sunday; some LCBO stores will open on Monday but with modified hours; all Beer stores are open on Easter Monday

No mail delivery on Easter Monday or Good Friday

Government offices, including municipal buildings like Toronto City Hall, are closed Friday-Monday

Banks will be closed Friday-Sunday, and will resume service on Monday

Most grocery stores will be closed on Friday and Sunday

By Eric Pfeiffer

The Canadian government announced on Thursday that it plans to pull the penny from circulation at the end of 2012, saying the copper-coated currency is more expensive for the Royal Canadian Mint to produce than its actual currency value.

"Pennies take up too much space on our dressers at home. They take up far too much time for small businesses trying to grow and create jobs," said Finance Minister Jim Flaherty. He also said it costs 1.5 cents to produce each penny.

"We will, therefore, stop making them," he said.

Nonetheless, the news has been causing quite a stir across Twitter today.

The U.S. faces a similar dilemma, where it costs nearly two cents to produce a single penny. U.S. pennies are in fact composed primarily of zinc, and have a thin copper coating. The Wall Street Journal wrote that the Obama Administration has proposed using less expensive materials in the production of pennies and nickels, but public misinformation on the perceived value of coins would likely stir up controversy.

It could also be disastrous news for at least one Portland, Oregon, nightclub.

During the 2008 presidential campaign, Obama discussed phasing out the penny, saying, "We have been trying to eliminate the penny for quite some time—it always comes back. I need to find out who is lobbying to keep the penny." However, Obama said that fellow presidential Illinois native Abraham Lincoln shouldn't be phased out from our currency. "Oh, you think it's Illinois? You're blaming us?" he joked. "I will seriously consider eliminating the penny as long as we find another place for Lincoln to land." Lincoln, of course, already graces the front of the $5 bill.

The Canadian penny will still be accepted indefinitely as a form of currency, but the government says it will eventually require cash transactions to be rounded to the nearest five-cent increment. Customers are already forbidden from using more than 25 pennies in a single purchase.

"The penny has simply outlived its purpose," said Senator Irving Gerstein. "It is a piece of currency, quite frankly, that lacks currency."

The Associated Press notes that some countries have already eliminated pennies or their monetary equivalent from circulation, including Finland, Sweden, Norway, Denmark, Israel, the Netherlands, Australia, New Zealand, France, Spain, South Africa, Switzerland and Brazil.

The headline in the March 26th edition of The Financial Post reads "Listing Prices Mean Nothing". With the current state of our Real Estate Market and bidding wars all around, the headline seems intriguing. Surely the article must be informative and include accurate facts. Or has it just been inserted to boost sales as newspapers struggle for survival?

The writer of this column goes on to state "the concept of an asking price is becoming virtually meaningless" and "realtors are so out of touch that they can't price homes properly".

It's ironic that this columnist is accusing Real Estate Professionals as the ones being out of touch. The only valid point made in this article is that the market is moving fast. It is inferred that Realtors are to blame for the increased demand for homes and that they are deliberately under pricing homes to create this multiple offer phenomenon. The fact that a home may sell for 20% above the list price is not an indication that the realtor was off base with the listing price. The Toronto Real Estate Board average for selling price vs asking price in the first three months of 2012 is 100% of asking. Simple math would confirm that if some homes are selling above list, there are that many selling under asking price.

What the writer strategically avoids in his effort to sway the general public's perception of a Realtor's credibility, is that price is a direct reflection of supply and demand and that no individual can dictate market price. Sale prices are mainly determined by economics. When inventory is running low, there will obviously be an increase in demand and thus an increase in price. Vice versa, when there is a surplus of inventory, demand decreases and so do prices.

In a balanced market where supply and demand are equal, homes will sell for market value. In markets where supply is greater than demand (buyers' market) sale price will be less than market value.

As Realtors, our role is to educate our clients on market value for properties. As buyer or seller representatives, we have access to the same information and can derive accurate market values for properties. Like any other product or service, superior features will obviously increase perceived value. The writer makes it seem as though a Realtor should be able to estimate selling price to the dollar, thereby eliminating any negotiation between buyer and seller.

The value of a home is different to every buyer. If location is imperative to one buyer, the perceived value of a home may be $20,000 more than to the buyer who sees the property as an investment. A pool sized backyard may mean more to someone than a double car garage would. Value cannot be preset, it is subjective. A properly priced home will draw more attention than a home that is overpriced. As a sellers' representative, my objective is to maximize my clients' return on their investment. The writer seems to be bitter about Realtors' acting in their sellers' best interest. Whether this is because he has constantly losing out in bidding wars or if he can't seem to get a proper return on his sales is not made clear. Proper representation will make sure a buyer's best interest is protected and they won't over-pay for a home, even in a sellers' market.

The market is always good. It is either good for sellers, or good for buyers. It is never good for both parties at the same time. There will be times where bidding wars are the norm, and times when a buyer calls the shots. Regardless of which type of market we are in, the price being paid for a home is always determined by the buyer. The right to back away during a multiple offer situation is always there and using a professional to educate you throughout the process is your best option.

The story ends with the writer taking a shot at Realtors by stating "..asking price itself should not be a gauge for what a home is worth. Real Estate agents have taken care of that.".

It is sad that a respected paper such as the Financial Post has to fill vacant front page space by inserting comments from uninformed sources. The Headline - Listing Prices Mean Nothing - had so much promise, yet the story fails to deliver accurate information.

The point that this article does drive home is that catchy headlines in the newspaper should not be a gauge for accurate information. Uninformed journalists have taken care of that.

Asif Khan, ABR
Re/Max Hall of Fame
Re/Max Chairman's Club
Re/Max All-Stars Realty Inc., Brokerage
905-888-6222