Springtime mortgage wars 2016..

It’s become an annual springtime tradition in Canada, one that’s arrived a little early this year: The mortgage rate war.  Ontario’s Meridian Credit Union kicked things off Tuesday with the announcement of a one-year fixed-rate mortgage at 1.69%.  Read more…

Sellers beware

The Ontario Superior Court has once again underscored how completing a seller property information statement (SPIS) can be a risky move for vendors.  This general rule of buyer beware applies to defects that a purchaser could have discovered by means of a routine inspection (known as a “patent defect”) and also “latent defects” (those not discoverable […]

Condo prices could skyrocket…

Toronto condo prices could skyrocket 40 percent, predicts major developer A major real estate developer is brushing off fears of a bubble in Toronto’s red-hot condo market. “My prediction, and I’ve been pretty accurate to date, is we are going to have a 30-to-40% increase in values of the condo market in downtown Toronto over the […]

Mortgage fraud thrives in Canada

Earlier this year, Home Capital Group Inc., the country’s largest alternative mortgage lender, revealed it had cut ties with 45 mortgage brokers after an anonymous letter to the company’s board of directors sparked an investigation into forged documents, such as fake employment letters and income statements. Collectively, the brokers who were fired generated nearly $1-billion […]

What common law couples should know

A lot of people assume that common law relationships are the same as marriage after a certain number of years.  This is both correct and incorrect.  It’s correct in the fact that certain rights are acquired in a common law relationship, but the matrimonial home is still just that – the matrimonial home. You need […]

The Bank of Mom and Dad

The Bank of Mom and Dad is helping buoy up the Toronto housing market…. ‘Gift letters’ have become a common form of currency as young buyers struggle to save down payments.  Helping out the kids with a home purchase is not new. But the amounts being signed over have reached staggering heights in the GTA, […]

Vancouver’s high rental prices

Vancouver renters share the pain of high housing prices Vancouver isn’t just one of Canada’s most expensive housing markets for buyers, but also renters. According to new data released by the Canada Mortgage and Housing Corporation (CMHC), the highest average monthly rent was $1,345 for a two-bedroom, primary purpose-built apartment in Vancouver. Calgary had the […]

Leaving the cottage to family?

Plan ahead to deal with taxes if you want to pass your cottage to your children Sitting by the lake and watching the grandchildren cannonball off the dock might be the dream of many cottage-owning baby boomers. But handing down the cottage to those grandkids so that they might one day do the same can […]

and the market remains strong…

TORONTO, May 19, 2015 – Toronto Real Estate Board announced a 9.6% year-over-year increase in home sales reported by Greater Toronto Area REALTORS® during the first 14 days of May. There were 5,655 sales reported in the first two weeks of May 2015 compared to 5,160 sales during the same period in May 2014. “It is […]

Hottest luxury market in the world: Toronto!

Toronto ranked world’s ‘hottest’ luxury home market Toronto was ranked as the world’s “hottest” luxury market in 2014, according to a report from Christie’s International Real Estate. Toronto saw a 37% increase in luxury home sales in 2014.  It was the only location among the world’s top 10 markets to see a faster pace of luxury […]

Housing is NOT facing a bubble… Poloz

Stephen Poloz questioned about sudden rate cut, assessment of economy OTTAWA— The governor of the Bank of Canada says he didn’t mean to surprise markets in recent months with his interest-rate cut, worrying real estate projection and the grim adjective he chose to describe the country’s economic performance. During testimony Tuesday before a parliamentary committee, […]

House prices surge 10% in March

Toronto house prices surge 10% in March; no relief in sight Detached homes in the City of Toronto see a stunning 15.9% jump in price. A total of 8,940 properties switched hands across the GTA in March, with peak trading months just around the corner. House prices shot up 10% in March over a year ago […]