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| LSTAR NewsLocal REALTORS® help consumers understand new anti-money laundering regulationsThe new federal laws and regulations dealing with money laundering and anti-terrorist financing that went into effect on June 23, 2008 require REALTORS® and brokers to collect and verify more personal information from buyers and sellers. Real estate agents must now track the source of funds received during the course of a real estate transaction, such as the deposit.News Release Real estate agents now must verify ID of buyers and sellers and track depositsNew federal laws and regulations dealing with money laundering and anti-terrorist financing that went into effect on June 23rd 2008 will require real estate agents and brokers to collect and verify more personal information from buyers and sellers. Real estate agents must also now track the source of funds received during the course of a real estate transaction, such as the deposit.Public Inquiries to FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) http://www.fintrac-canafe.gc.ca FINTRAC, 24th floor, 234 Laurier Avenue West, Ottawa, ON K1P 1H7 CANADA guidelines-lignesdirectrices@fintrac-canafe.gc.ca 1-866-346-8722 News Release Second quarter home sales strong againLast month 905 homes exchanged hands in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), bringing the total number of homes sold in the second quarter of 2008 to 2,768, down 9.8% over the second quarter of 2007. Sales in the first half of 2008 numbered 4,647 units, down 9.7% over the first six months of 2007. “It’s important to keep these figures in perspective,” advises Bruce Sworik, LSTAR President. “Not only was last year a record-breaker for overall home sales in our area, but sales in the second quarter of 2007 were the highest our Association has ever seen – and we have been keeping records since 1978. Yes, sales have eased compared to 2007, but if you take a look at the historical data it’s clear that sales activity is simply returning to more ‘normal’ levels after several run-up years. We’re still above average in terms of second quarter and year-to-date sales, so 2008 definitely remains on course to being another successful year for local real estate!”News Release LSTAR's June 2008 Statistical Information:Statistical PackageSt. Thomas Statistics Statistical Report Association Membership Breakdown (Elgin) Breakdown (London) Breakdown (Middlesex) Market Report NOTE: Statistics are published during the first week of the following month. CREA's StatsEach month, The Canadian Real Estate Association compiles the statistics of existing homes and properties sold through the Multiple Listing Service®. This provides an overview of the existing housing market in Canada, and tracks market trends for prices and properties sold.(Crea's Stats) Archived Statistical Information:May 2008April 2008 March 2008 February 2008 January 2008 Statistical Information December 2007 Statistical Information November 2007 Statistical Information October 2007 Statistical Information September 2007 Statistical Information August 2007 Statistical Information July 2007 Statistical Information June 2007 Statistical Information May 2007 Statistical Information April 2007 Statistical Information March 2007 Statistical Information February 2007 Statistical Information January 2007 Statistical Information Local REALTORS® help consumers understand new anti-money laundering regulations . This information is provided by the London and St. Thomas Association of REALTORS®. The information herein is believed to be accurate and timely, but no warranty as such is expressed or implied. |
London and St. Thomas Association of REALTORS®, 342 Commissioners Rd.W., London, Ontario. N6J 1Y3 - Phone 519-641-1400 - Fax 519-641-4613
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