I hope that you are enjoying the summer weather (between rain storms, that is)! Summer is traditionally a slower time in real estate, but there's still plenty of inventory hitting the market on a consistent basis. If you are shopping for a house, don't take...
Well, it sure has been an interesting few months in real estate. We have been bombarded by the media with stories of doom and gloom, but despite that buyers and sellers have been busily buying and selling houses and condos! Volume is definitely down, but...
There has been a great deal of discussion lately regarding the state of the real estate market in Toronto. The media is desperately trying to tie the Canadian real estate market to the situation in the US real estate market. Obviously, the US and Canadian...
March 27, 2008 Spring is here! Well, almost...
Most of you have probably heard about the 50 basis point drop in the Prime lending rate. Although they don't always do this, the major banks have passed that on to consumers by lowering their mortgage rates. Posted rates are now around 5.25% for a...
2007 Set Records Nation-Wide Records all Around What's in store for 2008? The big news in the last week or so is the turmoil in the financial markets. Everybody who bought a house instead of stocks in the last few years should give themselves a pat on the...
As you know, the new City of Toronto Land Transfer Tax comes in to effect on February 1st, 2008. Some details are becoming a bit more clear. According to the information below (provided by the Toronto Real Estate Board), first-time buyers spending less than $400,000...
Details of Approved Toronto Land Transfer Tax Toronto City Council has approved a municipal land transfer tax that will be levied on top of the provincial land transfer tax. The Toronto Real Estate Board worked very hard to oppose this tax and commends the efforts of...
Welcome to the latest issue of my Real Estate Market Update newsletter! The basic data comes from the Toronto Real Estate Board's "Market Watch" report (see link at left). The rest is my 'editorial commentary'* on the state of things. Enjoy the report, and feel...
April '07 was the busiest month in the history of the Toronto Real Estate Board, with 9,452 sales recorded. As active as the market is, and with quite a bit of attention being paid to 'bidding wars' and sale prices tens of thousands of dollars...