Toronto Condo Market Continues to Soar

Toronto area condominium apartment prices continued to move upward last month, with average prices 6% higher than February, 2018. Almost certainly we will see another all-time high for condominium prices before the spring is over. Under-pricing and bidding wars are rampant and buyers are eager (even desperate) to buy condos now before prices go even… Read More

I Want To Sell My Home – How Much Work Should I Do?

Getting Your Home Ready to Sell

You’ve started looking for a new house, and you’ve seen a couple that you like. Your present house has served you well, but the last major renovations were done almost 20 years ago. How much work should you do to get the house ready to put on the market as soon as you buy the… Read More

Torontonians Say The City Isn’t Doing Enough To Increase The Supply Of Housing

In a recent survey, Forum Research found that 69% of Toronto residents feel that the City should be doing more to increase the supply of rental housing across the city. As previously reported, there is a rental housing crisis in Toronto due to the influx of new residents, declining affordability (forcing would-be buyers to rent),… Read More

Reverse Mortgages Becoming More Popular

It’s a common story. A retired couple living in Toronto has a home that they purchased in 1985 and paid off years ago. Their home is worth about $1.5 million, but they have only a modest pension, they have been dipping into their meager savings to pay the monthly bills and maintain the house, and… Read More

Toronto Market Continues on Steady, Balanced Trend

Toronto area prices were slightly (1.6%) higher in January than last January, while the total number of homes sold was almost exactly the same. The inventory of homes for sale was the same as last year, as well as last month, and right on the 3 months’ supply level that is regarded as ‘balanced’, that… Read More

New Mortgage Qualification Rules – Unintended Consequences

When the federal government introduced ‘stress test’ rules in early 2018, the intention was to make sure that buyers would be able to afford their mortgage payments should interest rates increase by the time they need to renew. Basically, the new rules require that buyers prove that they could afford to buy their home if… Read More

Toronto Market Ends 2018 On A Quiet Note

Toronto area sales and prices were down in December, as they always are at year-end, closing out a positive and mostly uneventful year when the real estate market returned to quiet stability after the chaos of the 2016/2017 bubble inflation and collapse. For the year as a whole, average GTA prices were down 4% vs… Read More

Toronto Homes Among the Most Overvalued in the World

The Economist magazine has published a very cool interactive chart that allows you to see at a glance how home prices in major cities around the world compare to each other over the past 20 years, and how ‘overvalued’ they are in terms of the ratio of price to household income. As you can see… Read More

CREA Forecasts Higher Prices & Sales for Ontario in 2019

The Canadian Real Estate Association (CREA) is Canada’s national association of real estate agents, similar to the National Association of Realtors (NAR) in the United States. Among other services, CREA publishes data on MLS sales across the country and has recently published their province-by-province forecasts for home prices and sales volumes in 2019 (see charts… Read More

Why You Should Use an Expert to Navigate the Home Buying Process

In a growing atmosphere of the do-it-yourself mentality, some wonder if they should take on the homebuying process on their own. It’s certainly been done but, more often than not, homebuyers turn to the experts when it comes time to making what will often be their most expensive purchase. Here are just a few reasons why it’s a… Read More