Carbon Monoxide Detectors are Now Mandatory in all Ontario Homes

As of October 15, 2014, carbon monoxide detectors are now mandatory in all Ontario homes. 

Carbon monoxide (CO) is a highly poisonous, odorless gas which is produced as a byproduct of combustion when common fuel-burning appliances and equipment that use natural gas, oil, wood, propane and kerosene don’t get enough air to burn up completely. According to the Technical Standards & Safety Authority, most Ontario households have between 4-6 carbon monoxide producing appliances such as a furnace, portable generator and gas fireplace.

Carbon monoxide poisoning can be deadly. Carbon monoxide can build up, especially in confined spaces, and can lead to toxic effects.

To protect Ontarians from carbon monoxide poisoning, the province now requires carbon monoxide detectors near all sleeping areas in residential homes; and in service rooms (such as boiler rooms and garbage rooms), and next to sleeping areas in multi-residential units. 
The Technical Standards & Safety Authority has provided these safety tips:

• Ensure at least one CSA approved carbon monoxide detector is outside bedrooms. However, it is advised to install one on every floor.

• Alarms need to be replaced every 7-10 years depending on the brand. Check the expiry date of the existing detector and replace any devices built before 2008.

• Have a licensed technician inspect your fuel burning appliances (e.g., furnace, range, fireplace, water heater) annually, to ensure they are in proper working order and vented correctly.

• Replace batteries in your detector annually, or opt for models with 10-year sealed lithium batteries that never need to be changed.

• For families with older parents or relatives, help them inspect their detectors.

• When a detector sounds, make sure everyone is out of the house and call 911. Exposure to carbon monoxide reduces a person’s ability to think clearly, so don’t delay clearing out.

For more information on carbon monoxide and safety tips, please visithttp://www.cosafety.ca/ and http://news.ontario.ca/mcscs/en/2014/10/keeping-ontarians-safe-from-carbon-monoxide.html

R.E. Market is and will continue Strong at all Levels & We might be looking at a new Residential Sales Record.

On October 3rd, Toronto Real Estate Board President Paul Etherington announced that there were 8,051 transactions reported through the TorontoMLS system in September 2014.  This result represented a 10.9 per cent increase compared to September 2013.  On a year-to-date basis through the first three quarters of the year, sales were up by 6.9 per cent annually to 73,465. 

"Despite a persistent shortage of listings in some market segments, we have experienced strong growth in sales though the first nine months of 2014. This is evidence that GTA households remain upbeat about purchasing a home. The majority of home buyers purchase a home using a mortgage. The share of the average household's income dedicated to their mortgage payment remains affordable, which is why buyer interest has remained solid," said Mr. Etherington. 

The average selling price for September 2014 transactions was $573,676 – up by 7.7 per cent compared to the same period in 2013.  Average year-over-year price growth was strongest in the City of Toronto, both for low-rise home types like detached and semi-detached houses and for condominium apartments.  The average selling price year-to-date was $563,813 – up 8.5 per cent compared to the first nine months of 2013. 

"If the current pace of sales growth remains in place, we could be flirting with a new record for residential sales reported by TREB Members this year. On the pricing front, the multitude of willing buyers in the marketplace coupled with the short supply of listings will continue to translate into very strong annual rates of price growth in the fourth quarter," said Jason Mercer, TREB's Director of Market Analysis.

http://www.torontorealestateboard.com/market_news/release_market_updates/news2014/nr_market_watch_0914.htm