Loading...

Monthly Stats Show Change In Number Of Sales vs Listings

Saturday May 06th, 2017

Share

I just posted the April 2017 monthly statistics for various towns in Durham and York Regions.    If you bought firm and you're needing to sell, sell now, sell fast. The prices are still strong but the ratio of Listings to Sales has done a dramatic shift in April.    In the following towns, the number of active listings has roughly doubled from March but the number of monthly sales has remained the same, more or less. More supply. Less... [read more]

What's this about Toronto Vacancy Tax?

Thursday Mar 30th, 2017

Share
'

I'm all for finding ways to cool the market, but this added 1% annual tax is quite significant. On a million dollar home sitting empty, which is just a townhouse in some areas, that's an added $10,000 tax per year. Wonder what they'll spend it on...Read the full cbc story here...   [read more]

About Vacancy Tax again..

Thursday Mar 30th, 2017

Share
'

Garth Turner's Blog sheds some light on the dark crevices of Vancouver's (and possibly Toronto's in the near future) Empty House Tax. Say's Garth, "Toronto already started a witch hunt. Officials have been instructed to study electricity and water usage data to ascertain the number of lightly used properties in the city..."    WOW!! Garth's blog here.   [read more]

Ontario Budget expected to bring measures to soften R.E. Market

Wednesday Mar 29th, 2017

Share
'

From Rob Ferguson & Toronto Star: "Disappointed that last week’s federal fiscal blueprint didn’t take immediate steps to cool the GTA’s overheated market, Sousa said Monday that Ontario will go it alone in the fight against crazy bidding wars, fast-rising prices and rents." More on that story here... [read more]

Supreme court ruling in BC will shake up R.E. industry

Tuesday Mar 28th, 2017

Share
'

The Canadian Immigration status of Sellers, is an often overlooked point during a purchase. Non-residents are charged a capital gains tax at the time of sale. If Buyers, or their Real Estate Agents or Solicitors do not make adequate enquires as to the status of the Sellers, the Buyers can be on the hook for the shortfall. Read more on this here.  [read more]

Anthony Robbins was in T.O. talking Real Estate

Friday Mar 24th, 2017

Share
'

 Anthony Robbins was in Toronto the other day for a Real Estate Wealth Expo.  I love Tony Robbins, he's great. He's an incredible motivational speaker. This time though, I'm not too sure about his message. Toronto Life interviewed thirteen people that had just left Real Estate Wealth Expo seminar. Of the thirteen, ten said things like "even more sky-high", "non-stop", "Government can't let it (big burst) happen",... [read more]

More reasons to cash out your Real Estate now

Thursday Mar 23rd, 2017

Share
'

From Better Dwelling article (Mar 11 2017):  Bank of International Settlements(BIS), an international financial watchdog, released its fall quarterly report this week. In it, they expressed concern about Canada’s debt-to-GDP gap, which is used to measure the stability of the local banking system. The organization has flagged Canada for a financial crisis as early as next year. Yikes.  Call me if you're ready for your Real Estate exit strategy. 905-852-6143.  [read more]

Canada Budget 2017 - A Toronto Real Estate Board Perspective

Thursday Mar 23rd, 2017

Share
'

The Toronto Real Estate Board has broken down the Federal Budget in how it relates to housing and the real estate industry: Breaking Down the Federal Budget 2017 March 23, 2017 -- On March 22, the Government of Canada released their 2017 budget, which included several provisions related to housing and the real estate industry.  Pulling from summaries provided by the Ontario Real Estate Association (OREA) and the Canadian Real Estate Association (CREA), below is a summary of... [read more]

York & Durham Region's high rate of speculative buying. What the stats really are saying.

Thursday Mar 23rd, 2017

Share
'

It's 27 pages long, full of graphs and charts, and most definitely worth reading. Realosophy Realty has put together this comprehensive & detailed report which points to a high level of investor demand in the GTA, specifically in York and Durham Region when compared to just four years ago. Moving forward, author John Pasalis encourages people to think more like investors and less like speculators. And yes, there is a difference. Make knowledgeable choices and decisions.... [read more]

Ontario Finance Minister urging Ottawa to address speculative market

Monday Mar 20th, 2017

Share
'

From Globe and Mail, ALEXANDRA POSADZKI Ontario Finance Minister Charles Sousa is urging Ottawa to address speculative investing in the country’s housing markets by changing how such profits are taxed. Currently, a capital gains tax is charged on 50 per cent of the profits on the sale of a home unless the property qualifies for a principal residence exemption.  Read complete story here.                       ... [read more]

Why some houses don't sell even in this market..

Sunday Mar 19th, 2017

Share
'

There are always the 'perennial' houses that come on the market every year and don't sell. Often they are overlooked by agents and passers by because they have been discounted in our minds early on for some reason, thus ignored. You never get a second chance to make a first impression. Read the Globe and Mail article here..   [read more]

Vancouver sales dropping in 2017

Sunday Mar 12th, 2017

Share

    From BBN: Home sales in Metro Vancouver last month dropped by almost 40 per cent from the year before with the sale of detached houses falling hardest. The Real Estate Board of Greater Vancouver says the townhome and condominium markets are more active than sales for detached homes. Just over 1,500 residential properties sold in January, down 39.5 per cent from about 2,500 sales that were recorded in January 2016.  Read the detailed report... [read more]

Finance Minister on the Toronto Housing Market

Saturday Mar 11th, 2017

Share

Allison Jones, Canadian Press, writes "Ontario’s finance minister said Friday that while he is considering a tax on foreign home buyers for Toronto and beyond, it’s not the biggest factor when looking at ways to cool the housing market." See detailed report here. [read more]

Great article on what's driving the Real Estate boom!

Thursday Feb 23rd, 2017

Share

....."what’s driving the boom? The housing industry — builders and brokers — claim lack of supply is the main culprit. Others, Porter included, see demand as the problem. Lately, evidence is mounting that speculation is behind the jump."  see the full article by Theophilus Argitis here.  The only thing I'd like to add is the Real Estate agents are not happy with this boom. Clients are left in limbo being too afraid to sell before buying. Agents are... [read more]

China gets strict on Foreign Exchange Transactions Abroad - Bloomberg Markets

Sunday Jan 29th, 2017

Share

  "At risk of capital flight, China marked the new year with extra requirements for citizens converting yuan into foreign currencies. The State Administration of Foreign Exchange, the currency regulator, said in a statement Dec. 31 that it wanted to close loopholes exploited for purposes such as money laundering and illegally channeling money into overseas property." Bloomberg Markets     See detailed report here.          [read more]

RBC Canadian Housing Market Forecast 2017

Saturday Jan 28th, 2017

Share

Due to RBC copyright I can't post the stats and tables here, but you can link to the RBC page here.  Click on the "Home Resale and Price Forecast (January 2017)" link to see the pdf with projections forecast into 2017 & 2018.   Click on the "Canadian housing healthcheck - January 2017" link to view more detailed graphs on affordability, inventory, vacancy rates, bond yields, unemployment, immigration, and new... [read more]

CMHC red flags housing market for second consecutive quarter.

Saturday Jan 28th, 2017

Share

OTTAWA, January 26, 2017 — Canada Mortgage and Housing Corporation (CMHC) is reporting strong overall evidence of problematic housing market conditions nationally for the second consecutive quarter due to overvaluation and price acceleration in Canada’s housing markets. This assessment largely accounts for market conditions in Vancouver and Toronto where strong price growth has been spreading to neighbouring centres such as Hamilton and Victoria. Read further details... [read more]

Retirement in a shared private house - Port Perry

Wednesday Jan 25th, 2017

Share

  "Bardswich and Casson heard about co-ownership, a common concept in the U.K., and felt it could be a fit in Ontario. While there are shared ownerships in Canada, they usually involve family members, but it’s unusual to find four unrelated people who own a home. Their idea piqued the interest of local contractor John Lucyk, who purchased the home in downtown Port Perry within walking distance of stores, pharmacies, banks and restaurants..."  Read details here in... [read more]

New Chinese Money Rules (Jan 4 2017)

Wednesday Jan 25th, 2017

Share

"Strict new government scrutiny on Chinese people who want to convert their money into other currencies threatens to slow the rush of foreign property buying that has stoked sky-high home prices in Canada and around the world...." See detailed Globe and Mail report here. [read more]

CMHC Insurance Increase

Thursday Jan 19th, 2017

Share

CMHC to Increase Mortgage Insurance Premiums OTTAWA, January 17, 2017 — CMHC is increasing its homeowner mortgage loan insurance premiums effective March 17, 2017. For more detailed information please refer to the CMHC website here.   [read more]

Evicted tenant lives rent free for 18 months

Thursday Jan 19th, 2017

Share

In Evicted tenant lives rent free for 18 months in what very well might be a record for living rent free, a recent case (Nwabue v Rojas, 2016 ONSC 7754 [CanLII]) illustrates how a tenant was able to freeload for over 18 months despite agreeing to an order requiring him to vacate the unit.  See Matt Maurer's complete article here. [read more]

Toronto's History of Real Estate Busts

Thursday Jan 19th, 2017

Share

"So 2016 turned out to be yet another record-breaking year for Canada’s housing markets, particularly for Toronto, where sales rose to an all-time high and the average house price jumped by $122,000 in a single year, to around $730,000. That’s about as unsustainable as a housing market can get. Yet at this point, the experts who've long predicted a crash -- and who should now be shouting louder than ever -- have gone quiet."  See Daniel Tencer's full story... [read more]

Load More