Toronto real estate market news & info
In late 2019, following a lengthy appeal by the Local Planning Appeal Tribunal, a new bylaw governing short-term (less than 28 consecutive days) rentals in Toronto came into effect. The most significant provision in the bylaw is that people can host short term rentals only in their principal residence – no more investment properties or… Read More
If you are buyer looking to purchase a house in Toronto, you know that the market has become extremely competitive over the last several months. Bidding wars and bully offers are rampant, the inventory of homes for sale is near an all-time low, and it’s common for buyers to lose out several times in competition… Read More
Mark your calendars for Monday September 7 (Labour Day)! Our ice cream truck will be making 5 stops in High Park, The Junction, Bloor West Village and Swansea! We will have free ice cream cones plus a draw for a chance to win an iPad! Here’s the truck stop schedule: 12:00… Read More
Buyers are sometimes confused about the differences among Mortgage Pre-Qualification, Mortgage Pre-Approval and final Mortgage Approval. These differences are important and need to be understood properly if you are buying a house or condo. Mortgage Pre-Qualification – This is the first step when you are getting started on your homebuying journey. It’s a very simple… Read More
If you’re tired of renting but can’t quite scrape together a down payment for a home of your own; or if you are retiring and would like to keep your living costs as low as possible; you may need to get creative. One option is to purchase a home with friends or relatives, entering into… Read More
A recent report from Capital Economics highlights falling rents in Canadian cities, especially Toronto and Vancouver, and points out that this could have a significant knock-on effect on Canadian house prices. The report identifies several reasons why rents are falling: The surge in unemployment due to COVID-19 lockdowns has hit low-wage earners the hardest,… Read More
Social distancing rules have pretty much eliminated the traditional birthday party celebration for kids — but if you live in the High Park, Bloor West, Junction, Swansea or Roncesvalles area, you can book a free visit from the Birthday Panda to bring some joy to your child’s special day! Click here to view a clip… Read More
Canadian real estate kicked off 2020 with a bang, but there are conflicting opinions as to how we’ll finish out the year. Canada’s federal housing agency has warned that average house prices could fall by up to 18 per cent over the next 12 months – a dismal prediction that’s being challenged by RE/MAX based on market… Read More
We have only limited data so far, but already it is clear that the number of MLS rental transactions in the GTA has plummeted by about 50% since the COVID-19 restrictions were imposed just over a month ago. There were approximately 2,500 MLS rental transactions per month in January, February and March, but only about 1,300… Read More
The Broadview-Danforth Business Improvement Association (on behalf of dozens of Toronto BIAs) recently surveyed 561 small business tenants and 137 landlords across the city as to how the Coronavirus lockdown has affected them. A majority of the respondents (61%) said that they would not survive over the next 3 months without rent relief, and 76%… Read More
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