Have Toronto prices hit bottom?

Toronto’s roller-coaster real estate market took a swoop lower in August, the fourth-straight month that the average sales price in Canada’s largest city declined from a dizzying record high set in April. The Toronto Real Estate Board said Wednesday the average price for all home types in the Greater Toronto Area last month was $732,292, […]

Using your principal residence as a rental..

Q: I bought a house in 2010 for $600,000 and lived in that house as my principal residence until 2013.  Then I bought and moved into another property. I rented out the first house and reported all income on my tax returns. In 2016, I sold the rental property for $900,000. When I file my […]

Toronto sellers frustrated with buyers’ demands

Some home sellers in Toronto are finding the buyers of their homes are trying to renegotiate the deals just days before closing. In this rapidly cooling real estate market, some buyers seem to be regretting how much they agreed to pay back in the hot spring sales season. In other cases, buyers aren’t able to […]

What slowdown? Toronto and Vancouver are still hot markets

With recent price declines in Canada’s hot real estate markets, there’s been talk of a slowdown. But, so far, it’s hardly something for prospective buyers to get excited about.  While prices did drop after the introduction of a foreign homebuyers’ tax in Vancouver last year, they’re once again surging to new highs.  In Toronto, both […]

Condo market shows resiliency..

2017 has been a turbulent year for the Greater Toronto Area (GTA) housing market, with the Ontario government’s Fair Housing Plan ushering in a frenzied wave of transactions, now being followed by a steep decline in sales. Despite the turmoil, new figures released by the Toronto Real Estate Board (TREB) show that while overall home sales declined […]

Brutally honest descriptions of GTA cities…

Sara Sanham  NARCity.com The GTA is full of unique and awesome cities, but let’s be real every city has their quirks and charms. I personally grew up in Burlington and have fully come to terms with the fact that it’s a golf enthusiasts playground filled with old people and black Escalades. I’ve asked people from […]

Tax changes and the small business world…

Tim Cestnick July 21, 2017 Ever since the 2017 federal budget in March, when the government announced that tax changes affecting private corporations would be coming, I’ve been feeling queasy. Well, the proposed tax changes were announced by Bill Morneau, the Finance Minister, on Tuesday. And ugly they are. Here’s a primer on the potential […]

Upside of the housing downturn…

Royal LePage CEO Phil Soper says that, like a lot of chief executives, he is prone to optimism. But that didn’t stop him from calling Toronto the least healthy housing market in the country when prices were galloping ahead in the double digits in the first quarter of the year, peaking at 33 per cent year over year […]

Mortgage fraud thriving in Canada..

In early 2013, Kelly Vandenham and her boyfriend were preparing to put an offer on a charming Craftsman-style house in West Kelowna, B.C. They had been pre-approved for a mortgage with Canadian Imperial Bank of Commerce, but the couple’s realtor suggested they could get a lower interest rate at Toronto-Dominion Bank, where their realtor’s boyfriend, […]

Condo prices still up over 2016

As expected, sales in June 2017 were down year-over-year, although prices were again moderately up, even with more new and active listings coming into the market. “Significantly, condo resale prices soared in pricing by 23.2% in the 416 and 21.4% in the 905, more than double the increase of detached homes, semis and town homes.”

Summer ’17 mortgage update

There has been a lot of media chatter lately, that the Canadian economy may be showing significant signs of improvement. But is it really sustainable when you hear about plummeting oil prices and weak retail sale? Regardless, let’s assume for a moment the Canadian economy goes on a tear (which I think is questionable) or […]

Toronto market cools, creates sticky situations

Globe & Mail June 10, 2017 With a new home and a baby on the way, this summer was meant to be joyful for Pickering teacher A.J. Smith. Instead, he’s found himself squeezed by the Greater Toronto Area’s housing-market slowdown, watching tens of thousands of dollars evaporate from the value of a house he needs […]

When a detached home isn’t really detached..

‘Detached’ home for sale is actually linked to property next door Bob Aaron Toronto Star June 7, 2017 After signing an agreement, a couple found out their house was connected underground to their neighbour. When is a detached house not detached? That was the question facing the “Smiths” late last month. The couple came to see […]

And the Toronto spring market is now over…

The Toronto spring real estate market came on hot and furious.  It was sooner than normal, it was hotter than normal, average selling prices zoomed skyward and now it’s over.  The summer market is upon us, with buyers able to breathe, make calm decisions and buy without impulse decisions.   Here’s the chart for 2007-2017 […]