Toronto Real Estate Market – Outlook for 2013

Prices_Mid_Dec_2012

During the first half of 2012 we had a very hot (maybe even superheated) market, with crazy bidding wars everywhere. Then in July the government introduced new mortgage rules, most notably limiting amortization to 25 years for insured (less than 20% down) mortgages. This led to a marked slowdown with fewer sales than in the… Read More

No-Pet Clauses in Leases Not Legal

No Pet Clauses in Leases

Under the law, you can’t prevent a tenant from bringing a pet into your property, unless it is a condominium and the building declaration says no pets. So even if a landlord and tenant sign a lease that says no pets, the tenant can bring 2 dogs and 4 cats the next day and there… Read More

When Can A Buyer Walk Away From A Deal?

Breach of Contract

Putting your home up for sale can be a tough decision, but once made and the ball is rolling, you may not be able to change your mind. Last week’s column about a $3.3 million home sale that went wrong for the seller prompted several related questions from readers. via moneyville.ca   The system for… Read More

Clean Train Coalition Appeals Court Decision Re: Airport Rail Link Plan

Airport Rail Link

The Clean Train Coalition is seeking leave to appeal a recent decision of the Ontario Divisional Court to deny access to justice for claims based on the right to a healthy environment. The Coalition was not entitled to argue its case challenging the Metrolinx plan to run diesel trains on the air rail link from… Read More

Swansea Plaza Condo Development Plan Approved

34-50 Southport Street Artist's Conception

The development application for the condo development on the site of the old Swansea Plaza at 34-50 Southport Street has been approved by Etobicoke York Community Council. After more than 10 years since the abandonment of the plaza, and after two earlier tries by another developer, it looks like construction will actually take place sometime… Read More

Canada’s Condos Are Getting Smaller

Condo Buildings

British Columbia developer Tien Sher is planning to offer the country’s smallest condominium units, at just 290 square feet. The Surrey development will be in a four-storey building with 56 “micro” suites, the developer says. “We wanted to build suites that renters could afford to purchase today,” says Charan Sethi, president of Tien Sher. “With… Read More

Alderwood Family Home

380A Horner Avenue

Exceptionally large Alderwood family home with almost 3000 sq ft of living space on three levels. Stunning totally open main floor living space including a gorgeous kitchen with granite counters, stainless steel appliances and large centre island. Walk-out from the great room to a wood deck and a large fully fenced private yard. The upper… Read More

Matrimonial Home Or Not? … Can Be An Expensive Question

Matrimonial Home Division of Property

A matrimonial home is recognized as a very special asset by the law in Ontario. That means that if the home is sold, it will usually be divided equally between the married couple, regardless who paid for it. Even if only the husband or the wife is on title to the property, it will take… Read More