Toronto Market Continues To Adjust

Inventory_June_2017

The increase in inventory levels that began in April, pursuant to the Ontario government’s announcement of it’s 16 point “Fair Housing Plan” aimed at taming Toronto’s runaway price bubble, has continued in June. We now have 2 1/2 months’ supply of homes for sale, as compared with about 1/2 month’s supply in March. This approximate… Read More

Multiple Representation in Selling and Buying Homes

Real Estate Agent with Clients

When a home is sold, there are typically two real estate agents involved: one representing the seller (the ‘listing agent’) and one representing the buyer (the ‘buyer agent’). Another common situation is where one real estate agent represents both the buyer and seller, for example, when a buyer without an agent comes to an open… Read More

Resistance To Change When Buying Or Selling A Home

Resistance to Change

Resistance to change is common for buyers and sellers. This may seem surprising since both buying and selling mean seeking out a move with many related changes, but resistance is common none the less. Buying and selling real estate involve many complex decisions packed full of real estate terminology, all of which are new territory for most… Read More

As If Bidding Wars Weren’t Bad Enough – Now We Have Escalation Clauses

The super-hot Toronto area market has been rife with bidding wars over the past 1-2 years, as buyers have greatly out-numbered sellers in competing for the dwindling supply of homes for sale. These competitive auctions can be a nightmare for buyers, as the bids are “blind”, meaning that competing bidders only know how many other… Read More

Is Your Basement Apartment Legal?

Is Your Basement Apartment Legal

There are thousands of basement apartments in Toronto, and the vast majority of them are NOT legal. There is a lot of confusion as to what it means for a basement apartment to be legal, and what is required to make it so. If you are thinking about buying a house with an illegal basement… Read More

Will The Ontario Fair Housing Plan Slow The Toronto Market?

On April 20, the Ontario government announced a 16 point package of measures designed to “help more people find affordable homes, increase supply, protect buyers and renters and bring stability to the real estate market”. Interestingly, if predictably, none of  these measures are designed to help or protect sellers or landlords. The key points are:… Read More

Buying a Home For Your Child

Three Generation Family

It used to be big deal if Dad bought you a car when you were old enough to drive – but now some parents are buying homes for their kids. It’s a great investment and saves them from paying rent, whether they are attending college or university or are striking out into the working world…. Read More

New Regulations Coming to Cool Hot Toronto Resale & Rental Markets?

New Regulations

The recent federal government budget contained no new measures to curb the real estate market, however, rumours are flying that such measures might soon be coming to Ontario. For example: A vacant property tax is being considered for the City of Toronto. The number of vacant units in Toronto has recently been estimated to be… Read More

What Problems Do Home Sellers Have To Disclose?

House Problems

When you’re in the process of buying a home, it can be very easy to get caught up in the esthetics of the structure — such as the marble countertops and hardwood floors. But elements such as foundations, wiring, plumbing, and heating and cooling systems are just as important, if not more so. So, if… Read More

Why You Should Be Investing in Rental Property

Owning a rental property has its benefits. The supplemental income can help offset your mortgage payments and with the growing trend for renting in and around Downtown Toronto, the demand is higher for rental suites. There are tax benefits too, you may be able to deduct from your tax expenses: mortgage interest property taxes insurance… Read More