I've just posted a report showing the average price trends, by house type, in Milton since January 1st, 2002. I chose this date because that is when the houses in the new section of Milton started appearing as resales.

An interesting trend is that the number of units sold was down in 2008, from the peak year 2007, but prices were up across the board. Those 2 factors clearly indicate a market in transition, as inventory is sold off and buyer's begin waiting to see what is happening in the market. Indeed, from September 2008 through to the end of the year, we heard from buyer's that they were going to wait until January or February, to see what happened with prices, rates, elections, etc. True to their word, wait they did, and sales dropped precipituously as a result.

The one exception to rising prices is in condo apartments, and this can be attributed to the new buildings that came to completion in 2008, and the lowering of average prices by their very existence.

The exception to decreasing number of units sold in 2008 was in freehold townhouses, which saw an increase in untis sold of about 15% over 2007. This can be attributed to the strength in demand from entry-level buyers, and an emerging trend of some homeowners selling their more expensive homes before the market dropped further, in an effort to mitigate their losses.

In conjunction with the February 2009 Real Estate Market Update, viewable as a video at http://www.youtube.com/watch?v=fI6GM3ekNpU, you can find the annual summary of Milton real estate by downloading the PDF file from http://TownofMilton.com/STATS-2002+.pdf

 

In looking at this week's numbers, it is quite a change in the number of properties that have been taken off the market - 28 listings expired or were cancelled in the past week, representing 8.2% of the available listings. There were a total of 7 properties sold, plus another 7 that went under a lease contract.

The busiest segments of the market this week were the price ranges of $275,000 to $300,000,  and $325,000 to $350,000, with 2 sales each. There were no sales over $375,000.

In terms of market supply, which is the most important factor to consider, we have approximately a one year supply of houses on the market right now. That means that if conditions stay the same and no new properties come onto the market, it will take a year to sell the available inventory.

It's called a Buyer's Market for a reason.

We have to apologize for the delay in posting the final 2008 Statistics - our MLS provider is experiencing a few challenges with the statistical module of the software and has been delayed in providing this information.

Look for a month-to-month update to also be available once the statistical module is working. In the meantime, we will continue compiling our weekly TMO by manually entering the data, listing by listing, into a spreadsheet and calculating for your benefit.

Countertop trends: Quartz tops Granite as strongest rock in consumer reports

(NC)-Consumers in the market for a premium countertop surface are discovering early in their search that quartz, and not granite, has become the highest rated and most popular option available.

That's because quartz countertops have emerged as the new worry-free, elegant alternative to high-maintenance granite for architects, designers and homeowners alike. They're stronger than granite, require no resealing, are highly resistant to scratches and stains, and come in a huge variety of colours.

In fact, Consumer Reports Magazine rated quartz as the top performer among countertop materials such as granite, ceramic tile, stainless steel, laminate, marble, limestone and concrete when it came to resisting prime kitchen hazards such as stains, heat and scratches.

According to the recent Freedonia Group Report on countertop industry trends, there has been a definite shift in the marketplace over the last few years as quartz has become the fastest growing market segment in the industry with 13 per cent growth compared to granite's five per cent.

Quartz surfaces are growing in popularity because they have the appearance of natural stone, but unlike granite, these surfaces never need to be sealed. Quartz is a nonporous material, which means it will not promote the growth of mold, mildew or bacteria. This is why leading brands such as HanStone Quartz surfaces are certified NSF 51 (with the National Sanitation Foundation).

"HanStone quartz countertops have an aesthetic that can emulate the look of granite, but are also available in unique colours and surface effects not found in natural stone," explained Mark Hanna, President of Montreal-based Leeza Distribution Inc., one of North America's leading distributors of HanStone Fine Quartz Surfaces (leezadistribution.com). "The benefit of quartz is that it doesn't have any of the drawbacks associated with materials such as granite."

What is quartz?

Quartz is silicon dioxide and it occurs as individual crystals and fine-grained masses in a large variety of forms, patterns, and colours. It is naturally hard and scratch resistant.

Most quartz countertops are manufactured with up to 93 percent quartz mixed with pigments and resins. This prescribed mixture results in a product that is non-porous, exceedingly durable, and more than twice as strong as granite.

The top rated quartz surface in the industry by designers, architects and developers a like is HanStone, because it contains a higher quartz content than the norm and includes clear and multiple quartz colours, bringing greater depth, dimension and style to its surfaces.

HanStone is also accredited with Greenguard environmental certification for low emitting products. The Greenguard certification is becoming an important requirement for consumers looking for premium countertops following recent news reports that the Environmental Protection Agency has been receiving increasing calls from radon inspectors and concerned homeowners about granite countertops emitting dangerous levels of radon and radiation. Radon is the second leading cause of lung cancer after smoking.

As a result more and more consumers are looking for healthier options for their countertops such as HanStone for its Greenguard certification to ensure their countertops emit low to no emissions of toxic chemicals into their home environment.

Credit: www.newscanada.com

Beware of Invisible Hazards Lurking In Your Home

(NC)—When you hear the word pollution usually the first picture that comes to mind are large clouds of smoke billowing from factory smoke stacks or a line of countless vehicles spewing exhaust fumes. In fact, the majority of people still blame poor indoor air quality on outdoor air pollution. But this is simply not true.

Did you know that outdoor air pollution only counts for a fraction of indoor air pollution? According to the Environmental Protection Agency (EPA) the Indoor Air Quality (IAQ) of the average home can be up to 100 times more polluted than outdoor air.

Invisible pollutants produced by common household substances, plus dust and excess humidity that get trapped in today's houses, can increase your risk of chronic respiratory illness and your home's risk of serious structural damage.

Today's well-insulated homes often lack the ability to "breathe" freely. Trapped, stale air and excess humidity can lead to mold build-up, unpleasant odors, condensation on windows, and even structural damage to your home.

Pervasive irritants such as dust, dust mites, cigarette smoke and other pollutants commonly found in household air may increase the risk of chronic respiratory illness, allergies, sinusitis, frequent headaches, coughing and asthma.

According to the Canadian Lung Association the most effective ways to control humidity and remove excess moisture and pollution levels from your home, apart from source control, are ventilation and filtration of circulating air.

The air exchanger manufactured by Venmar Ventilation is the first system to offer a unit that integrates heat recovery ventilation technology with HEPA filtration at an affordable price.

"With our system you can get the best of both worlds," says Gagnon. "It works to provide fresh air through ventilation and at the same time ensures the best indoor air quality by trapping airborne allergens such as pollen, dust, pet dander mold and bacteria through its HEPA filter with antimicrobial protection. The HEPA filter traps and removes up to 99.97% of airborne allergens and assists in distributing fresh air throughout the home." More information on the benefits of ventilation is available at www.venmar.ca.

- News Canada

Do You Have Equity in Your Home?

If you have some equity in your home, or you have ready access to $25,000, you need to take that money and put it to work for you. You need to build your financial wealth.

In the Millionaire Real Estate Investor Workshop we delve right into the true meaning of the term ;financial wealth' and what it can do for you and why you need to build it. We also introduce you to the models and systems used by 120 millionaire real estate investors, so that you can learn from their mistakes, gain their habits, and take a quicker, straighter path to financial wealth.

I was doing some research for a new investor client today, and came up with some incredible opportunities available in Milton right now. Let me give you the details: 

The numbers in the table are based on commonly-available mortgage rates as of the date of writing. The one expense not included is the insurance coverage, because that can vary depending on the coverage you get and your relationship with your insurance company. 

As noted, these properties are currently available today, and will give you a positive cash-flow on a consistent monthly basis.

A further note is that we may be able to get you into the properties on a no-mortgage, $5,000 down basis. This method would be great for someone with minor blemishes on their credit, or someone just beginning to save their downpayment to buy.

Whether you would be interested in either scenario, give me a call at 905-208-7002 to schedule a meeting to discuss how we can get you into these opportunities, either as your first step to becoming a Millionaire Real Estate Investor or as a new home owner.

Some Canadian Real Estate Factoids . . . .

• In the first half of 2008, $56-billion of new mortgages in Canada (more than half of new mortgages) had 40-year amortizations. Two U.S.-based mortgage insurance companies, Genworth Financial and American International Group, are reportedly asking the Canadian federal government to raise existing government guarantees of private mortgage insurance to 100% from 90%. The federal government guarantees 100% of the mortgages insured by Canada Mortgage and Housing Corp.
   
• The TD Canada Trust Homeowner Confidence poll reports that 92% of Canadian homeowners are staying put and not considering selling their homes. Of those surveyed, 53% are going ahead with planned renovations or plan to do even more home improvements.
   
• According to the Toronto Real Estate Board, the median price of all condos sold in November, 2008, fell to $226,000 from $241,000 in November, 2007. Sales dropped to 906 from 1,837 a year earlier. In December, 2008, the number of condo suites listed for sale increased to 4,637 units from 4,366 in December, 2007. The average number of days it took to sell a unit in 2008 climbed to 43 from 33 a year earlier.
   
• According to Cushman & Wakefield LePage, the industrial vacancy rate in Canada was an estimated 5.8% at the end of 2008, much lower than the doubledigit vacancy rates in many American cities. Vacancy rates increased 0.7% in small markets and climbed even less in major markets like Toronto, Montreal and Vancouver last year. The national industrial vacancy rate is expected to rise 0.7% in 2009.
   
•  According to the Toronto Real Estate Board, sales of existing homes in Toronto fell 45% in December, 2008, from December, 2007. The average price dropped to $361,415 from $394,931 a year earlier. According to Canada Mortgage and Housing Corp., housing starts in Toronto rose 27% in December from a year ago. Total housing starts reached a record level in 2008, boosted by a 137%
  jump in condo starts, while low-rise starts fell.
   
• According to RealNet Canada Inc., the downtown core submarket in Toronto had sales of 143 condo units in November, making it the second-hottest area for condo sales in the GTA. The average price in the downtown core submarket is $745 per square foot, fourth highest among all GTA submarkets.
   
• According to the British Columbia Real Estate Association, existing home sales in the province fell by one-third to 68,923 units in 2008 from 2007. The average home price increased 3.5% to $454,599 for 2008. Prices dropped 11% from a peak of $483,291 in March to $429,210 at the end of the year. In
  December, 2008, sales were down 49% from a year earlier and the average price declined 6%.
   
• ......

  A major real estate firm, in a separate report, blamed the depressed level of consumer confidence, along with the slide into recession, for a slump in home sales and prices in the final quarter of 2008.

  "The combination of a global economy in recession and shrinking employment figures did much to dampen consumer confidence, diminish home sales and cause house prices to drop," Royal LePage Real Estate Services said in releasing details of its latest house-price survey.

  The average price of a detached bungalow dipped by 4.8 per cent from a year earlier to $319,640, standard condominiums fell 5.2 per cent to $233,230, and the standard two-storey home declined 6.3 per cent to $376,140.

  However, price trends varied dramatically across regional real estate markets, it said, noting that Regina and St. John's, N.L., posted double-digit gains, while the larger cities that have seen the greatest increase in prices this decade, including Toronto, Edmonton, Calgary and Vancouver, recorded declining house prices.

  But the real estate giant also released survey results suggesting the market could get a lift from the fiscal stimulus in the budget.

  Nearly half of Canadians — 49 per cent — agree that the economic stimulus in the budget will have a positive impact on Canada's real estate market, it said.

  "Political actions taking place south of the border are also likely to buoy the country's economic conditions," it said, citing another survey finding that 82 per cent of Canadians agree that the inauguration of U.S. President Barack Obama will have a positive impact on consumer confidence here.

  The news out of the U.S. on Monday, that home sales unexpectedly rose 6.5 per cent last month, raised hopes that the deep housing market depression there, which triggered the global recession, may be easing.

  "Though unlikely to mark the bottom of the housing downturn, the report at least suggests the market is not spiraling downwards in response to mounting job losses and tightening credit standards," said BMO Capital Markets economist Sal Guatieri. "An upward trend in home sales that gobbles up supply and stabilizes prices would be an important signpost of economic recovery, but that is likely still some ways off."

  There was also an unexpected year-end increase in the index of U.S. leading economic indicators, which tends to signal the short-term direction of the economy.

  However, analysts noted that the increase in the U.S. index was narrowly based, largely reflecting a surge in money in the U.S. economy, and that the trend in the index continues to signal recession.

  In Canada, the reports of an improvement in the mood of consumers came amid a continuing flow of announcements of the levels of spending stimulus that will be in the budget, with Infrastructure Minister John Baird saying the government will spend $7 billion over two years on new infrastructure, bringing total promised new spending to more than $13 billion.

  "This is clearly having some impact on consumer confidence as nearly half of all Canadians believe the steps the government is taking to stimulate the economy . . . will positively impact the country's real estate market," said Phil Soper, president and chief executive of Royal LePage Real Estate Services. ....... (Vancouver Sun)
   

• In the Milton area, we are seeing buyers starting to buy after delaying decisions for the past 5 to 6 months. Part of this is, I think, they have decided that the 'sky is falling' reporting of mainstream media has not proven true. Another factor is the incredible interest rates available, and a third factor is the excellent deals available on homes today. Buyers realize that they cannot time the bottom of the market, and don't want to be left thinking and waiting when the market does turn back up.

Resolved to Reduce Your Carbon Footprint in 2009? Think Packaging


(ARA) – You conserved energy in 2007 by installing programmable thermostats in your home. In 2008, you replaced your home’s incandescent light bulbs with energy-efficient compact fluorescent lights. If you’re wondering what you can do in 2009 to further reduce your carbon footprint, just take a look at product packaging.

Americans generated 60 billion pounds of plastic waste in 2006, and recycled just 7 percent of it. Despite our noble efforts, Americans still recycle less than we should. Every day, one landfill closes somewhere in the United States, so reducing the amount of materials that need to be disposed of is a critical part of environmental efforts.

From milk cartons and cereal boxes to household cleaner bottles, the packaging we use in our daily lives generates a lot of waste. In 2009, consider focusing your eco-friendly efforts on reducing the amount of packaging you and your family use and – ultimately – dispose of. Here are a few tips to keep in mind the next time you visit the grocery store.

Household Cleaners

Traditional cleaners may become passé as more people opt for natural products over harsh chemicals. Even if you are using natural cleaners, however, you can still do more for the environment -- by choosing products that come in environmentally sensible packaging.

Some cleaning product manufacturers, like Arm & Hammer, are offering ways to reduce the environmental impact of their packaging. The company’s new Essentials Cleaners use plant-based cleaners (with other biodegradable ingredients) with a twist -- the “starter kit” includes an empty, reusable trigger-spray bottle and a cartridge of cleaner concentrate. Consumers fill the bottle with tap water, twist in the cartridge and are ready to clean. When they run out, they purchase a refill cartridge and reuse the same bottle.

The bottles can be reused, extending the usable life of the packaging -- and keeping them out of the waste stream. The refill cartridges are also smaller and lighter than a full bottle of traditional cleaner, so it’s less costly to manufacture and transport them, reducing fuel expenditure and carbon emissions.  The two-pack refill cartridge system uses 80 percent less packaging than two traditional 32-ounce cleaners.

“Plastic from household cleaners and containers can generate more waste than many people suspect- 28 billion pounds in 2006 alone,” says David Bach, eight-time national bestselling financial author and green lifestyle expert who wrote “Go Green, Live Rich: 50 Simple Ways to Save the Earth (and Get Rich Trying).”  “Furthermore, people don’t think about recycling their cleaning products, meaning that most end up in landfills.  Reducing packaging reduces the volume of plastic entering the waste stream.”

Cosmetics Industry

Much of the packaging used by the cosmetics industry is plastic and most of that does not get recycled -- from lipstick tubes to eye shadow compacts. Just as consumer demand for cruelty-free products drove the industry to find alternatives to animal testing, cosmetics manufacturers are now offering more environmentally sensible packaging options.

For example, one company has introduced a lipstick tube made of a biodegradable polymer of organic sugars and oils. Other companies are using recycled materials to manufacture packaging or are designing their packaging with easily recyclable materials like aluminum. Some manufacturers are even offering products like eye shadow in reusable compacts -- when the eye shadow is empty, consumers simply dispose of the cartridge and refill the compact with a new one.

Bottled Water

Many bottled water drinkers imbibe in packaged water for their health – bottled water is perceived as clean, healthy and convenient. But until recently, the industry also produced vast quantities of plastic bottles that never made it to recycling bins.

Bottled water manufacturers are trying to turn those numbers around, introducing compactable bottles designed to crumple easily, which makes it easier to recycle them after use. Some companies have also begun making bottles from recycled material. Others market reusable bottles that consumers can fill on their own by purchasing larger sizes of bottled water and filling the smaller, more portable bottles as needed.

Packaging Pointers

Consumers needn’t simply wait for companies to improve their packaging process, however. There are plenty of ways environmentally conscious Americans can help reduce packaging’s impact on the environment, including:

* Shop for items with packaging that clearly states it is made wholly or in part from recycled materials.

* Avoid buying products in packaging that is not recyclable. You can check to be sure a bottle or other packaging is recyclable by looking for the recycling code – usually located on the bottom of the package.

* Choose to do business with companies that minimize packaging. For example, large wholesale club stores may not provide bags because it saves them money, but they’re also helping the environment by curbing packaging.

* Let eco-friendly businesses know you appreciate their efforts, and voice your concerns to those that fall short in the area of environmental responsibility.

* Choose products that have made an effort to improve their packaging and supply chain. Transporting goods through lower-impact transportation options, like railways and barges, produces less pollution than other alternatives such as trucking or air transport.

* Look for companies and brands that have an established history of environmental and social responsibility.

To learn more about Arm & Hammer Essentials, visit www.armandhammeressentials.com.

Courtesy of ARAcontent

Relief for home buyers and renovators

. . . . . .The other major pieces of tax relief are addressed at prospective and existing home buyers. The budget is raising the amount that first-time home buyers can withdraw from an RRSP to $25,000 from the previous $20,000. And first-time home buyers will also benefit from a new non-refundable tax credit of $5,000 for qualified homes that close after January 27, 2009. That $5,000 equates to $750 in tax savings, Ms. O'Hagan calculates.

Those who already homes will benefit from a temporary Home Renovation Tax Credit (HRTC), worth 15% on home renovation projects between $1,000 and $10,000. O'Hagan says this is worth up to $1,350 on a $10,000 project, which is 15% of $9,000. Note that this is a short-term stimulus that applies on work performed or goods acquired after Budget Day and before Feb. 1, 2010. It's a non-refundable tax credit, which means it can reduce taxes payable but there is no refund if your taxes are reduced below zero.

According to the radio commentary, new sod and landscaping also are covered in this HRTC!

5 Top Blunders of Internet Home Buying

How to avoid the common pitfalls of online real estate searching

While the painful real estate swoon appears likely to extend well into 2009—at least—the number of Americans using the Internet to find the home of their dreams is poised to keep on climbing. According to the 2008 National Association of Realtors Profile of Home Buyers and Sellers, 87 percent of home buyers used the Internet to search for homes in the past year. That's up steadily from 84 percent in 2007, 80 percent in 2006. But despite its mounting popularity, the Internet home-buying process can present a host of pitfalls. To help make your online real estate searching more effective, here's a look at the top five Internet home-buying blunders and what you can do to avoid them. Read the 5 Top Blunders HERE

Decorating Trends for 2009: Economy, Nature and Fashion Influences


(ARA) - What’s in store for home decorating in 2009? No matter what your taste, you’ll find a hue in the 2009 forecast of popular paint colors to suit your style. Since the average consumer spends two to three months planning a painting project, now is the ideal time to review your options, see what’s predicted to be popular and choose that perfect color.

Color Influencers
Looking to 2009, color experts are seeing three top drivers of color trends -- the economy, nature and fashion.

“It’s not surprising that the primary driver of our 2009 color forecast is the economy,” says Donna Schroeder, Dutch Boy color marketing and design manager. "During an economic slowdown, consumers traditionally become more conservative when decorating, oftentimes shifting to neutral colors when painting. However, even with the slower economy, we still expect to see the use of brighter paint colors as accents to the always-popular neutrals."

In addition to the economy’s influence on consumer color choices, the mainstreaming of the green movement is creating a renewed consciousness and sensitivity to the environment. The focus on bringing the outdoors into the home has once again made its way into the color forecast. The desire to incorporate basic elements of nature into interior design is still very prevalent.

In contrast to the two more serious drivers, the economy and nature, consumers still want to have fun when decorating their homes. So, many of the bolder and brighter clothing and fashion accessory colors seen on the fashion runways and in retail outlets are also reflected in the forecast.

2009 Color Forecast
All of the colors in this year’s forecast can be found within Dutch Boy’s Color Simplicity System. The five color themes for 2009 are:

Handmade
Look to this color palette to bring a personal homemade sensibility to your decor. Simple patterns and authentic colors are reflected in the desire to simplify, conserve and repurpose.  Colors in this palette include: Dried Stem, Beloved, Sidewalk Square, Mandarin Cove, Tulip Stem, Creamy Camel, Bull Frog and Espresso Latte.

Honest
Clean, natural colors capture the essence of ecology and preservation while the honest simplicity and sustainable sensitivity complement today’s contemporary styles. Colors reflect a raw, pure and organic feel.  Colors in the Honest palette include: Remember the Alamo, Western Cactus, Berber Carpet, Northern Climb, Not So Neutral, Sea Monster, Route 66 and Twisted Knot.

Dream
Conjuring up images of mystery and fantasy, the soft, floral-inspired colors found in this palette give an enchanting aura to any home. Feelings of whimsy and magic abound in these colors. Colors in the Dream palette include: Amethyst Gem, Purple Ash, Clover Bed, Concrete Thought, Beautiful, Flip-Flop, Pink Satin and Forest Hill.

Ancestry
Connecting with roots and heritage, the Ancestry trend palette lets you embrace your culture with a variety of warm colors that are anchored to a vibrant, global community. Colors in the Ancestry palette include: Infinity Pool, Young Sprout, Fresh Linen, Bronze Beauty, Mount Royale, Classic Red, Carmel and Distinguished Navy.

Construct
Bold and simple, linear and structured, these colors enhance a home’s architectural features and add a sense of Euro-modern geometry and order to any room. Colors in the Construct palette include: Dried Thyme, Sullen Mist, Rocket Red, Founding Father, Guess Hue, Laguna Blue, Pumpkin Stem and Empire State.

For more information about how to choose the perfect color, please visit www.dutchboy.com, or call (800) 828-5669.

Courtesy of ARAcontent

Bank of Canada lowers overnight rate target by 1/2 percentage point to 1 per cent

OTTAWA – The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of a percentage point to 1 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 1 1/4 per cent.

The outlook for the global economy has deteriorated since the Bank's December interest rate announcement, with the intensifying financial crisis spilling over into real economic activity. Heightened uncertainty is undermining business and household confidence worldwide and further eroding domestic demand. Major advanced economies, including Canada's, are now in recession and emerging-market economies are increasingly affected. Energy prices have fallen as a result of substantially weaker global demand.

Stabilization of the global financial system is a precondition for economic recovery. To that end, governments and central banks are taking bold and concerted policy actions. There are signs that these extraordinary measures are starting to gain traction, although it will take some time for financial conditions to normalize. In addition, considerable monetary and fiscal policy stimulus is being provided worldwide.

Canadian exports are down sharply, and domestic demand is shrinking as a result of declines in real income, household wealth, and consumer and business confidence. Canada's economy is projected to contract through mid-2009, with real GDP dropping by 1.2 per cent this year on an annual average basis. As policy actions begin to take hold in Canada and globally, and with support from the past depreciation of the Canadian dollar, real GDP is expected to rebound, growing by 3.8 per cent in 2010.

A wider output gap through 2009 and modest decreases in housing prices should cause core CPI inflation to ease, bottoming at 1.1 per cent in the fourth quarter. Total CPI inflation is expected to dip below zero for two quarters in 2009, reflecting year-on-year drops in energy prices. With inflation expectations well-anchored, total and core inflation should return to the 2 per cent target in the first half of 2011 as the economy returns to potential.

Against this background, the Bank today lowered its policy rate by 50 basis points, bringing the cumulative monetary policy easing to 350 basis points since December 2007. Guided by Canada's inflation-targeting framework, the Bank will continue to monitor carefully economic and financial developments in judging to what extent further monetary stimulus will be required to achieve the 2 per cent target over the medium term. Low, stable, and predictable inflation is the best contribution monetary policy can make to long-term economic growth and financial stability.

Information note:

A full update of the Bank's outlook for the economy and inflation, including risks to the projection, will be published in the Monetary Policy Report Update on 22 January 2009. The next scheduled date for announcing the overnight rate target is 3 March 2009.

Valentine’s Day Luxury for Less


(ARA) – Valentine’s Day inspires some of the most expensive and luxurious gifts. But in an economic downturn, what do you do when you have champagne taste, but a beer budget?

Luxurious doesn’t necessarily mean expensive and with some creativity you can give lavish gifts on a limited budget. Some of the most popular Valentine’s Day gifts are jewelry, gourmet food and personal indulgences and all of them can fit into a small budget.

A Toast to Love:
Many couples pop the cork on a celebratory bottle of champagne, but a bottle of the real French spirit can run you a costly $40 to $120 or more. Instead, look for domestic sparkling whites or an Italian Prosecco, an inexpensive, crisp sparkling white wine.

Gourmet Chocolates:
A heart-shaped box filled with chocolate is almost cliche. When it comes to chocolate, it’s quality, not quantity, that counts. A small box of gourmet chocolates in trendy flavors like curry, cardamom, black pepper, red wine and goat cheese will make much more of an impact than a big box of boring generic chocolates with mystery filling. If you’d like to try something different, try a small tin of caramels with sea salt.

Jewelry:
Diamonds may be a girl’s best friend, but a piece of classic and stunning pearl jewelry for Valentine’s Day is an affordable, unexpected and appreciated surprise. Freshwater pearl earrings or bracelets give a high-end look for a budget price and you can celebrate the colors of the holiday with a gorgeous pink or lavender cultured freshwater pearl necklace. PearlParadise.com offers freshwater pearl earrings starting at just $19. Make a unique statement and show her she’s the only one in your life with the symbolic and exotic Tahitian pearl pendant from PearlParadise.com.

Dinner for Two:
A romantic dinner for two at a restaurant can easily break the bank. But a candlelit gourmet dinner for two at home comes in at much less and also scores points for thoughtfulness. You can break out the cook book and make recipes from scratch or log on to any number of Web sites and have a three or four course feast delivered to your door.

The Gift of Time:
Time is the ultimate luxury and giving the gift of your undivided attention for an entire weekend, running a relaxing bubble bath or giving a foot massage is the best and most heartfelt gift of all.

Whatever you’re shopping for this Valentine’s Day, don’t wait until the last minute. Shopping ahead can save big money. Look for sales at your favorite stores and surf around for great deals online. PearlParadise.com, for example, offers pearls up to 80 percent off retail price. Remember, putting some thought into your gift and thinking ahead truly shows you care.

Courtesy of ARAcontent

ANDREW WALLACE/TORONTO STAR

Mattamy Homes CEO Peter Gilgan in his Oakville office. (Jan. 12, 2009)

Mattamy Homes: Between Bricks and a hard place

Peter Gilgan shuffles a clump of paper on his large wooden desk. "These are all the bills," he jokes to a photographer.

As the largest house builder in Canada, Gilgan has taken proactive steps to avoid those looming bills as sales slow in the North American real estate market.

His company, Mattamy Homes, laid off 50 staff in November.

In a memo to employees, Gilgan called it "the most difficult and humbling" action he has had to take in his 30 years as a business leader.

"The housing market is certainly not going to be as buoyant as it was. There are different expectations today than expectations from a year or two ago," says the developer, sitting in his Oakville boardroom.

On a crisp January day, Gilgan, 58, is suffering from a cold, but he is genial when greeting guests for a rare interview. Despite the fact he's the CEO of the country's largest builder of detached homes, with more than 40 sales and construction sites up and running throughout North America and more than a billion dollars in annual sales, the chartered accountant has always preferred to remain behind the scenes.

But Mattamy's fortunes are in many ways symbolic of what is happening in Canada's softening real estate industry, especially because of its leadership position.

According to the latest figures from the Building Industry and Land Development Association, total new-home sales in the GTA for the first 11 months of 2008 were down by 35 per cent. For low-rise homes, which Mattamy builds, industry-wide sales were off by 39.1 per cent. New-home companies have slashed prices and given away free trips and cars to entice buyers. Taking a page from the beleaguered car industry, Mattamy introduced "employee pricing" at select American sites last year, extending the same discounts to the public as to their employees.

According to Gilgan's figures, his company is doing much better than the average builder, closing 4,031 homes in 2007 with $1.5 billion in revenue and "just under" 4,000 homes in 2008 with $1.4 billion in revenue. The company has some 1,000 full-time employees.

But all bets are off for this year.

Balance of story is here