Toronto Market: Steady As She Goes

Prices All Property Types Jan 2018 Snagit

Following multiple disturbances overt the past year, including the ‘Fair Housing Plan’; tighter mortgage lending rules; and recent mortgage rate increases, the Toronto market has remained remarkably steady since last summer. Following the inflation and deflation of a price bubble through late 2016 and early 2017, prices have evened out and appear to be returning… Read More

Toronto Market Remains Steady

Prices_All Property Types Dec_2017

Well, that was quite a roller-coaster ride we’ve been on for the past 24 months! For many years, going back to the early 2000′s, Toronto area prices increased at a steady pace, averaging around 6% per year and always under 10% per year. Then, beginning in early 2016, prices began moving up much more quickly…. Read More

Buying Your First Condo

Condo Buildings

With more than 500,000 condominium units in Canada and one in four new homes built as condominiums, Canadian buyers need basic condominium buying skills to protect them in any market. Too often, condominium buyers fall prey to the “do nothing, just play” sales pitches inherent in lifestyle campaigns presented by condominium developers. Although “condo living”… Read More

How to Make Long-Term Real Estate Decisions

Seniors Willing to Take on Debt

No longer is there an automatic last move for boomers—that is, being moved into a HOME. No longer is there a “last stage” of adult life that dictates an end to independence and to living in a home you love.  Aging in place, or staying in your own home as you age, even if you… Read More

Buying Frenzy Ahead Of New Mortgage Rules

Prices_Freehold_Nov_2017

The divergent pattern between freehold and condominium properties that began in the spring has persisted since then and seems likely to continue into next year. Accordingly, I will continue to report price trends separately for these two categories, as they tell two completely different stories about the market. The freehold market (mainly detached homes) underwent… Read More

Toronto Market Remains Strong in October

Prices_Freehold_October_2017

The fall market continued to be very healthy in October, with sales of all property types up by 12% over September while prices remained steady. The relative strength of the condominium apartment sector relative to freehold properties continued last month: condo prices were slightly higher than in September and about 20% higher than last year,… Read More

Will New Mortgage Rules Disrupt the Market?

Last October, the federal government introduced mortgage rules that required anyone needing mortgage insurance (less than 20% down payment) to pass a ‘stress test’ to prove that they could afford the payments if mortgage rates were to increase. The Bank of Canada’s posted rate, approximately 2% higher than the rates actually available, was chosen as… Read More

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

Moving with Young Children

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

Worst Time Of The Year May Be The Best for Buyers

Home For Sale in Winter

Why is the worst time of the year, often the best time for real estate buyers? The holiday season and the following “worst weather” months are widely considered the worst time of the year for selling or buying real estate. In reality, these distraction-packed months – November to February – carry benefits for determined buyers…. Read More

Toronto Market Stabilizing

Prices_Freehold_Sept_2017

After an extreme roller coaster ride for the first 8 months of this year, Toronto area prices for freehold (non-condominium) properties seem to have stabilized. Prices shot up by more than 30% over 2016 in the spring, promptly gave back all of the increase over the summer months, and have exactly matched last year’s price… Read More