The Rules for Bidding Wars in Buying a Home

Rules for Bidding Wars

Multiple offers or bidding wars continue to happen all over the GTA. Buyers, sellers and real estate agents need to be aware of what to expect. To create the atmosphere for multiple offers, it may indicate on the MLS listing that interested offers are to be submitted in three days. The seller hopes this will… Read More

First Time Homebuyers – Most Men & Many Women Go Solo

First Time Homebuyers

The 2011 TD Canada Trust First Time Homebuyers Report found that 45% of Canadians will be buying their first home independently (rather than with a co-purchaser).  In fact, nearly six-in-ten men (57%) will buy on their own, along with 33% of women. While people buying independently don’t have to compromise with anyone about the features,… Read More

How Affordable is Housing in Canada?

How Affordable is Housing in Canada

One way to look at if Canadian housing is affordable is to compare it with other similar countries or economies and see how we fare. Demographia publishes an annual comparison of housing affordability for metropolitan markets in Australia, Canada, Ireland, New Zealand, the UK and the US.  Demographia measures affordability through a ratio of median… Read More

Do Homebuyers Need “Lemon Insurance”?

Lemon Insurance for Homebuyers

Used car buyers get more consumer protection than resale home buyers. When you buy a used car you can check whether there are liens registered against the vehicle, or whether the car has required major repairs following an accident. The vehicle then has to pass a safety check before the registration can be transferred. Resale… Read More

Toronto Market Looks Toward Summer

Prices June 14 2011

The resale housing figures for the first two weeks of June have been released by the Toronto Real Estate Board; the charts below summarize this information. (The sales figure was derived by extrapolation.) These data show that the Toronto area market remains very strong, with prices almost 10% higher than last June, and total sales… Read More

Windermere-By-The-Lake

15 WM 607 Balcony Pano

This gorgeous two bedroom/two bath suite is situated next to lakefront parkland and with panoramic views of High Park, Grenadier Pond, Toronto skyline and  Lake Ontario.  It’s close to Bloor West Village & Roncesvalles Village shopping, the downtown streetcar is at the door, and there is easy access to major highways & Pearson Airport. The… Read More

Does Title Insurance Eliminate Need for Survey?

Surveyor Equipment

Since title insurance was introduced in Canada in the early 1990s, it has been marketed as an inexpensive replacement for a property survey. But land surveyors and some lawyers say that consumers in a real estate transaction are putting themselves at risk by not getting an up-to-date survey, even if they have title insurance. Property… Read More

Rising House Prices Create More Canadian Millionaires

Dream Home

Rising housing values are helping to create more wealthy people in Canada. A study by the Deloitte Center for Financial Services says the number of millionaire households in Canada will grow from 1.745 million to 2.413 million by 2020, an increase of 38 per cent. As Michael Nairne of the National Post pointed out, the… Read More

Don’t Wait Too Long to Buy Your First Home

Don't Wait Too Long to Buy Your First Home

Looking back my biggest money mistake was waiting too long to buy a house. I also bought Nortel stock and lost money, but missing out on long-term housing price gains was far more costly. The irony is that at the time, in my 20s, I was an economist at the federal housing agency CMHC specializing… Read More

Your Oasis by the Lake

6 Chapel Pano for Blog

This warm & welcoming family home is situated on a quiet one-way street, just 1/2 block from Lake Promenade and lakefront trails & parkland. The home was totally rebuilt from the basement up in 2003, and over $200,000 in renovations & improvements have been added since 2004. The newly completed custom designed kitchen has sleek… Read More