Toronto House And Condo Markets Continue To Diverge

Prices for detached homes continued their steeply rising trend in September. Since the COVID-induced bottom in the spring, house prices have increased in each of the past 5 months and are now up 20% from April and up 13% since last September. While the rate of increase is leveling off somewhat, there are no indications… Read More

Toronto Prices Surge Higher

Detached home prices averaged just over $1.15 million in July, and are closing in on the all-time high of just over $1.2 million reached during the 2017 bubble.  For the first time in many years, we have not seen the typical summer slowdown, as buyers continue to take advantage of once-in-a-lifetime low mortgage interest rates…. Read More

Coronavirus Threatens Survival of Toronto Small Businesses

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

Federal Election – Housing Platforms

Here’s a quick summary of what each of the federal parties are promising/proposing for housing in Canada: Conservative Party Make the mortgage qualification stress test less stringent, and eliminate it completely for renewals to keep banks from gouging borrowers on renewal with uncompetitive high rates. Allow first time buyers to obtain 30 year amortizations to… Read More

Many Canadians Are Financially Stressed – BDO

BDO Canada is part of a large global network of firms that provide debt solutions for people in financial difficulty. They publish a study called the ‘BDO Canada Affordability Index‘. Here are some of the key conclusions from the latest study: More and more Canadians are taking on debt in all forms: 57% carry a… Read More

Radon Gas Is The Second Leading Cause of Lung Cancer

House with radiation hazard

Ongoing research into the presence and effects of radon gas has produced some disturbing results – the gas is in almost twice as many Canadian homes as previously estimated. Health Canada estimates that radon exposure causes the deaths of about 3,200 Canadians every year. That makes it the second leading cause of lung cancer, representing… Read More

Home Sellers: The Curse Of The First Offer

Sometimes when everything goes right we have trouble accepting that fact. Perhaps nowhere is this phenomenon more clearly illustrated than in the case where a seller receives a good offer right away. The annals of real estate are well stocked with stories of sellers who refused to take a good, but not perfect, first offer,… Read More

Interest Rates Unlikely To Rise In 2019

The latest data from Statistics Canada shows that GDP has actually fallen in four of the past six months, suggesting that, after the longest (if one of the weakest) recoveries ever, we are heading toward a recession within the next year or so. Click to view monthly GDP chart This is why the Bank of… Read More

Trends Cost Sellers Money

Every new and widely-adopted trend changes what’s considered “standard.” When this happens in real estate — inside or out — a seller’s non-trend or off-trend house or condominium unit may become “substandard” in buyers’ eyes. Sellers who expect top dollar for their property must ensure it makes an on-trend impression with homebuyers, especially millennials. In… Read More

The Critical First Two Weeks of Marketing Your Home For Sale

Real estate agents share their listings with other real estate agents in the multiple listing service (MLS) under certain rules of cooperation and compensation. One of the rules of cooperation is that each agent make a new listings available to other MLS members within 48 hours of signing the listing agreement with the seller. This… Read More