Ontario Homebuyers Fed Up With Bidding Wars

Buyers Fed Up With Bidding Wars

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

And Now… For the REAL Spring Market

Toronto Area Prices Mid March 2012

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

Fabulous Bloor West Reno/2nd Storey Addition

This stunning recent renovation/2nd storey addition with private drive is located in a family-friendly neighbourhood near Bloor West Village and The Junction. The dramatic totally open main floor plan has hardwood flooring, a gas fireplace with stone surround, stylish powder room and a walk-out to a large deck & fenced yard. The Chef’s kitchen has… Read More

Stunning Two Bedroom Suite Overlooking Christie Pits Park

11 Christie St., #302

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 Urged to Change Mortgage Rules Again

Mortgage House of Cards

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

New High Park Area Condo Projects Moving Ahead… Slowly

1844 Bloor St West

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

Mortgage fees: Understand What You Are Paying For

Mortgage Fees

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

Serial Moving – The Costs Are Very Large

Serial Moving - The Costs are Very High

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

Can a Seller Back Out of the Sale of His House?

A BritishColumbia real estate agent was fined $258,000 when he unilaterally cancelled a contract to sell a home and resold it to a second buyer for a higher amount. Hwang Soo Lee of Surrey, B.C., ended up having to compensate his first buyer for behaviour described by a judge as “high-handed and outrageous.” The lesson… Read More

Toronto Real Estate Board Forecasts Strong 2012

In this video, the Toronto Real Estate Board’s Senior Manager of Market Analysis, Jason Mercer, forecasts that the Toronto area real estate market will continue to be strong throughout 2012. He predicts that average prices will rise by 4.5% and that the inventory of homes for sale will increase somewhat (though still remaining low) as… Read More