REALTORS BEWARE:   A man, Mordecai Berlad, aka Moti Berlad, has been charged with luring, confining, and sexually assaulting women, including a realtor. He has now been convicted.  His name(s):   MORDECAI BERLAD and also is known as MOTI BERLAD and MOTI BERLAND and MOTI BERALD   There were 13 accusations in total. He has […]

Market Update end of March 2024

March 2024 home sales reported were lower than March 2023 due to Good Friday falling in March this year versus April last year. Despite a better-supplied market compared to last year, there was enough competition between buyers to see a moderate increase in the average March home price compared to last year’s level. GTA realtors […]

Using ‘cash for house’ company was a costly mistake

CBC October 23 2023 Erica Johnson, Kimberly Ivany · CBC News Ontario woman says using ‘cash for houses’ company was costly mistake Unlicensed real estate entrepreneurs have no professional responsibilities — unlike Realtors Laurie Thompson admits she needed to sell her townhouse in Smithville, Ont., fast. The pandemic had done a number on her finances — the bar […]

Demand boosted by temporary residents…

A surge of temporary residents is boosting demand for homes in supply-starved market Matt Lundy, Economics Reporter Globe & Mail February 17 2023 A record-setting influx of temporary residents is putting additional strain on the Canadian housing market, just as the construction industry is pulling back on new builds. By the end of 2022 there […]

Private lenders rein in real estate borrowers..

As financial pressures intensify, real estate industry professionals are keeping a wary eye on debt-burdened homeowners – particularly those who rely on cash from private lenders. The credit that flowed so easily from private and alternative lenders when the Canadian real estate market was climbing is scarce, expensive and sometimes unobtainable when property values fall. […]

Homeowners not filing insolvency

The Bank of Canada has raised its central bank rate six times so far this year reaching 3.75% in October 2022, up from a low of 0.25% at the beginning of the year. The resulting highercost of borrowing has led to a significant decline in mortgage originations and housing pricesand plenty of discussion about a […]

Bank of Canada – inflation & rate hikes

Bank of Canada prepares for a long fight against inflation Canada is on the cusp of a series of rapid interest-rate hikes, with the central bank poised to start raising the cost of borrowing as early as next week, beginning a sustained push to bring high inflation back under control. After nearly two years of […]

Open bidding is not the answer

Most experts think the solution to Canada’s runaway house pricing is to have open bidding. It’s not! Michael Moffatt of the Smart Prosperity Institute:WOULD A BAN ON BLIND BIDDING SLOW THE GROWTH IN CANADIAN REAL ESTATE PRICES? Key Points From This Report During the election campaign, the Liberal Party ran on a promise to include […]

Perils of living in super high rise condo buildings

The perils of living in super high rise condo buildings The nearly 1,400-foot tower at 432 Park Avenue, briefly the tallest residential building in the world, was the pinnacle of New York’s luxury condo boom half a decade ago, fueled largely by foreign buyers seeking discretion and big returns. Six years later, residents of the […]

New Corporations and Real Estate Deposits

Matthew Wilson, LLB, CS From time to time a purchaser will want to purchase real estate before the corporation that will own the real estate is incorporated. The agreement of purchase and sale might be entered into by an individual “in trust for a corporation to be incorporated without any personal liability”. Does this change what […]

Canada’s condo insurance crisis

A flood in Fort McMurray this past spring costing $100 million in damages. A June hailstorm in Calgary, now ranking as the fourth largest claim in Canadian history at $1.2 billion. These are just two examples of recent catastrophic losses impacting insuranceacross the country and contributing to a hard market, where premiums are increasing andcapacity […]

CRA cracking down on PRE abuse

CRA cracking down on abuse of principal residence exemptions, but their assessments aren’t written in stone Jamie Golombek: If it’s determined that you’re regularly buying and selling homes, you can be denied the PRE There are very few things that are tax-free: investment income in your TFSA, lottery and casino winnings, purchasing six or more […]

Asbestos – does it matter?

What is Asbestos? Where is it? Asbestos was often used in the construction of residential properties, particularly in the 1950s to 1970s. Asbestos was primarily used as an insulator because it is heat resistant and has a high tensile strength. It was contained in products such as pipe and duct insulation on heating systems, sealers […]