Toronto real estate market news & info
The Real Estate Council of Ontario is feeling the heat from Toronto’s hot housing market with a surge in calls from potential homebuyers upset they’ve lost out — or won — high-stakes bidding wars. About 30 per cent of the 15,000 inquiries the council has had in the last year are from house hunters overwhelmed… Read More
The Toronto area market has been unusually hot during the first 2 1/2 months of this year, due to a combination of low inventory of homes for sale combined with continued very low mortgage interest rates. In February, prices were 11% higher than at the same time in 2011, and so far in March, while… Read More
With 9 ft ceilings and over 940 sq ft of living space, this sun-filled suite has panoramic views of Christie Pits park from the balcony and from all windows. The open concept plan features a well appointed kitchen with granite counters and stainless steel appliances, as well as generous living and dining areas. There are… Read More
Ottawa is being urged to drop its warnings about consumer debt in favour of more concrete measures to stop more borrowers from getting in over their heads. With the Bank of Canada expected to keep interest rates on hold for several more months and household debt already at record highs, leading economist Craig Alexander says… Read More
1844 Bloor St West Anyone who drives along Bloor Street past High Park on a regular basis will have noticed the clump of abandoned and boarded up homes on the north side between Oakmount and Pacific. A plan to demolish these homes and build a condo building has been evolving over the past five years… Read More
A mortgage is usually the largest financial commitment a person will make. The interest is far more than any other debt, yet it is troubling that many of the details involved in mortgage applications are poorly explained — if at all — to those applying for the loan. More via moneyville.ca There are several… Read More
Is there a bigger wealth destroyer than selling and buying houses? The transaction costs will kill you every time. “You are depleting your wealth with every move,” says Vince Gaetano, a principal at Monster Mortgage. Just to be clear, we are not talking about people who fix homes themselves, live in them and then flip… Read More
A parking pad is a parking pad is a parking pad. So argued York West Councillor Giorgio Mammoliti when Parkdale-High Park Councillor Sarah Doucette moved motions to approve three area residents’ parking pad requests, but deny another’s. “I don’t understand how some houses get parking pads and others don’t. I don’t understand politicians who say… Read More
Ontario’s hot housing market continues to spark bidding wars and, in many cases, buyers are being advised by agents to make “clean” offers to get the house they want. By “clean”, the agent means an offer without any conditions in order to make it more acceptable to the seller. Big mistake. I constantly hear stories… Read More
Canada’s rate of homeownership is expected to increase and the future for condominiums looks bright according to an updated analysis of future Canadian housing demand. By 2036, there will be more one-person households in Canada than any other category, due to the aging of the baby boomer generation. But the country is counting on immigration… Read More
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