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November 2009

Found 2 blog entries for November 2009.

Understanding The New Canadian Home Renovation Tax Credit

Earlier this year, the Canadian government announced a temporary Home Renovation Tax Credit (HRTC). This tax credit was introduced to stimulate spending to offset the economic slowdown. The renovation credit can be applied to almost any work done on personal houses, recreational properties and condominiums, both inside and outside the home. For renovations totalling at least $1,000 and up to a maximum of $10,000 for materials and work, homeowners will receive a 15% tax credit, up to $1,350 [($10,000 − $1,000) × 15%]. To be eligible for this credit, the renovations must be completed between January 27, 2009 and January 31, 2010. The value of this program is estimated to be 3 billion dollars.

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The Calgary real estate market continued its recovery from the economic downturn by registering another near record month in October. Metro Calgary MLS sales for October 2009 show combined residential sales *SF homes + condos* of 1,886 units, a more than 50% increase from the same time last year, and 2.7% higher than last month. At the same time the price of an average SF Calgary home continues to climb, coming in at $462,464, 3% higher than Oct 2008 and nearly 1% higher than last month.

    Oct-09    Sept-09   Oct-08

 Oct 09

      vs

  Oct 08

 Oct 09 

    vs

 Sept 09

 SF Sales  1,286  1,257 820  +56.7% +2.2% 
 Condo Sales  601  580 399   +50.6%  +3.6%
 Total Metro Sales  1,886  1,837 1,219  +54.7%  +2.7%
 Avg SF
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