As many of you are aware, the Federal Budget was yesterday. The following is how it effects us in relation to the Real Estate market. Any feedback, questions or opinions can be made on my Blog. It will be a great forum to start conversations and to read what others have to say regarding some of these new policies. I will be Blogging under this entry title in the next few days with my personal opinion of what I feel some of the effects will be. Today I’m sending you just the basic outline of what was presented yesterday.

The Salisbury Team - providing you with up to the minute real estate information.

T.

INCREASED HOME BUYERS’ PLAN WITHDRAWAL LIMIT

To encourage home ownership and home construction, the budget proposes to increase the Home Buyers’ Plan (HBP) withdrawal limit to $25,000. Currently,the HBP allows you to borrow up to $20,000 tax-free from your RSP to purchase or build your first home. This increase in the HBP withdrawal limit will apply to the 2009 and subsequent calendar years for withdrawals made after January 27, 2009.

NEW HOME RENOVATION TAX CREDIT

The 2009 budget proposes to introduce a temporary Home Renovation Tax Credit (HRTC) to encourage Canadians to invest in home improvements. A non-refundable tax credit of 15% will apply to eligible expenditures over $1,000, and up to $10,000 resulting in a maximum credit of $1,350 ($9,000 x 15%). If you are not able to use the entire credit the unused portion may be claimed by your spouse,common law partner or minor child living at home, provided you do not exceed the single $1,350 maximum credit. This credit will only apply to the 2009 taxation year for eligible expenditures made after January 27, 2009 and before February 1, 2010 and supported by receipts. The credit will not apply to home improvement expenses that are based on an agreement entered into before January 28, 2009.

Costs for renovations or alterations of an enduring nature to a qualified principal residence will qualify for the HRTC. This means that if you have both a home and a recreational property that can qualify as a principal residence, you can claim the HRTC for renovation expenses on one, the other, or both. Such costs will include the cost of labour and professional services, building materials, fixtures,equipment rentals and permits. Alterations such as furniture, appliances, audiovisual electronics, routine repairs and maintenance and financing costs associated with a renovation would not qualify for the HRTC.

NEW FIRST-TIME HOME BUYERS’ TAX CREDIT

The budget proposes to introduce a new non-refundable tax credit for first-time home buyers who acquire a qualifying home after January 27, 2009 (a qualifying home is one that is currently eligible for the Home Buyers’ Plan). First-time home buyers will be able to claim a 15% non-refundable tax credit on an amount of $5,000, for a maximum credit of $750 in the year the home is purchased. If a home is purchased jointly, the total credit that may be claimed by all purchasers combined is $750. The credit will also be available for certain acquisitions of a home by or for the benefit of an individual who is eligible for the disability tax credit (DTC).

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UPDATE: This property is no longer being listed!

Please use our online complimentary St. Catharines Ontario real estate search to find similar available listings.

The price has been adjusted!!!  This St. Catharines home is now priced at $259,900.00!

Welcome to 331 Queenston Street located in the south end of St. Catharines, Ontario, Canada. This home is on the North side of Queenston Street, between Grantham Avenue and Hartzell Road.

331 Queenston Street had just been adjusted $5,000 to $274,900!

This very unique house has many possibilities. This circa home, built in the early 1900’s, features over 1,650 square feet and a total of 4 bedrooms upstairs, 3 bedrooms on the 2nd floor and the master bedroom in the loft for privacy. The main floor features a kitchen area, formal dining room and living room with wood burning fireplace. The other room off the Living Room & Dining Room can be used as an office, in-law suite or a main floor family room. This room has its own separate entrance from the street and 3-piece bathroom. All throughout this home you will see natural wood trim and hardwood flooring, especially on the main floor.

This home has a beautiful front porch which overlooks the front yard which features many trees and Queenston Street. There is also a back porch. This backyard is so big and private, your kids and dogs will love it. It has a single detached garage or barn area with loft and another building presently behind the garage that could be used for storage or miscellaneous. The beautiful inground pool is separately fenced from the rest of the backyard. There are other sitting areas and also a fire pit for those late summer nights.

Don’t miss out on this country property in the city and call Timothy today!!

Timothy Salisbury
Broker
The Salisbury Team
Royal LePage Niagara Real Estate Centre Inc., Brokerage
Toll Free - 1-800-467-8498
Office - 905-937-6000
View My Website at www.timothysalisbury.com

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UPDATE: This property is no longer being listed!

Please use our online complimentary St. Catharines Ontario real estate search to find similar available listings.

This St. Catharines home is priced at $154,900.00!

Eco friendly living at its best!! This bi-level semi has numerous updates, from its vinyl tilt windows, attic insulation, steel doors and high efficient furnace. It makes living easy with a new look in the kitchen that comes with white cabinetry, newer counter tops and all five appliances included. In this 2+1 bedroom home, it also has 2 bathrooms, a bright family room with gas fireplace, workshop and a laundry area. For your outdoor living space, a fully fenced private treed backyard complete with patio and year round fish pond!

For further information, please contact Timothy 1-800-467-8498 or email him.

For other pictures of this home, you can go here. For other homes, please go to the listings page of St. Catharines Real Estate or the blog listings section.

For St. Catharines attractions, you can visit:

Tour St. Catharines
St. Catharines on WorldWeb
St. Catharines Website

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Tags: 40-Vendura-Drive, St.-Catharines, Ontario, St.-Catharines-Listings, St.-Catharines-Homes, City-of-St.-Catharines, St.-Catharines-AttractionsSt.-Catharines-Real-Estate, Tour-St.-Catharines, Timothy-Salisbury

Here is the summary of the month of December and year to end stats for the year 2008 in relation to new home construction. 2009_01_09_0815_eoc.pdf

Should you have any questions, don’t hesitate to call or e-mail me.

T.

Timothy Salisbury
Broker
The Salisbury Team
Royal LePage Niagara Real Estate Centre Inc., Brokerage
Toll Free - 1-800-467-8498
Office - 905-937-6000
View My Website and my Blog at www.timothysalisbury.com
P.S. The best compliment we can ever receive, is when you tell others about us.

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Super Bowl XLIII will be the forty-third edition of the Super Bowl, an American football game that will feature the American Football Conference champion Pittsburgh Steelers (14-4) and the National Football Conference champion Arizona Cardinals (12-7) to decide the National Football League (NFL) champion for the 2008 season. Of historical note is that this game matches up two franchises that were merged into a single team (i.e., “Card-Pitt”) for the 1944 season, in response to the depleted rosters during World War II. Pittsburgh will be going for its sixth Super Bowl win, which would place it in sole possession of the record for most Super Bowl wins, while the Cardinals are seeking their first league title since 1947 and only the second undisputed league championship in their history.

The Cardinals will be the designated “home team”, as is the case for all NFC champions in odd numbered Super Bowls. The game is scheduled to be played on February 1, 2009, with kickoff at 6:20 PM Eastern Time, at Raymond James Stadium in Tampa, Florida. Super Bowl XLIII will be the second Super Bowl at this venue and the fourth overall in that city.

Now for some Super Bowl Trivia…

Q. What player has been to the Superbowl more often than anyone else?
A. Mike Lodish (four times with Buffalo, two with Denver).

Q. Which team has been to the Superbowl the most often?
A. Three way tie, Dallas Cowboys, Pittsburgh Steelers and San Francisco 49ers.

Q. Which football teams have the most Superbowl wins?
A. Dallas and the San Francisco 49s, five wins each.

Q. What player holds the record for most rushing yards in a single Super Bowl?
A. In Super Bowl XXII, rookie running back Timmy Smith rushed for a Super Bowl record 204 yards, leading the Redskins to victory and breaking the previous mark of 191 yards set by Marcus Allen of the Raiders in Super Bowl XVII. Smith also scored twice on runs of 58 and 4 yards.

Q. Who was the MVP of the first Super Bowl?
A. Bart Starr was MVP of the first two Super Bowls, regular season MVP in 1966, NFL Man of the Year, Professional Player of the Decade, and the first winner of the Byron White Award. Starr led the Green Bay Packers to 5 NFL titles and 2 Super Bowl wins. He later served as head coach of the Packers (1975-83).

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Quote of the Week
Whenever you find yourself on the side of the majority, it is time to pause and reflect.
Mark Twain 

Paul Croteau
Mortgage Specialist
BMO Bank of Montreal
31 King Street
St. Catharines, ON
ph: (905) 321-3230
fx: (905) 641-7854
Paul.Croteau@bmo.com

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The Niagara Grape & Wine Festival organization is pleased to announce the 2009 Niagara Icewine Festival. For ten days in January the Niagara region is transformed into a wintry wonderland, celebrating one of Canada’s most cherished products, Ontario Icewine. For over two decades, Ontario has been a world leader in the creation of Icewine. Niagara wineries continue to win the highest awards and accolades for this unique and decadent libation at international wine competitions. The Niagara Icewine Festival is a celebration of this flagship product that has made the world take notice of Ontario winemaking.

During January, the Festival provides a wonderful celebration of Icewine and an insider glimpse of the incredible local bounty of wine and culinary experiences the Niagara region has to offer. From Gala evenings, ornate ice bars, celebrity chefs, winemaker’s dinners, to roasting chestnuts, decadent dessert pairings and educational winery tours along Niagara’s famed wine route, the 14th edition of the Niagara Icewine Festival offers plenty for every taste.

To learn more about the Niagara Icewine Festival, you can visit here.

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Tags: Niagara-Icewine-Festival, Wine-Festival, Ontario, Niagara, Niagara-Festival