By: Thomas Cook

Average Toronto Condo Prices Increase In Second Quarter Of 2015

Average Toronto Condo Prices Increase In Second Quarter Of 2015

The Toronto Real Estate Board's Q2 2015 Condominium Market Statistics show that sales, prices and average rents have all increased in the City of Toronto. Toronto Condo sales alone increased by 17 per cent in the second quarter of 2015 compared to the same time last year, In addition, the average selling price for a condo in Toronto is now $416,728, which is an increase of 6.1 per cent over the same time period in 2014. Jason Mercer, the senior manager of market analysis for the Toronto Real Estate Board, said, “Condominium apartment prices have been appreciating at a moderate pace, on average, over the past year, especially when compared to low-rise home types like detached and s...Read More

By: Thomas Cook

Toronto Real Estate Lingo For The First-Time Home Buyer

Toronto Real Estate Lingo For The First-Time Home Buyer

The Toronto real estate market is a hot topic, and there's a ton of information in the news lately about what's going on. It can be hard to follow if you're not an experienced home buyer and if you're only just starting to think about making the leap and buying a home. Here's a list of some common Toronto real estate terms: Conditional Offer: When someone puts an offer in on a house, they can add any number of conditions. One example of a condition is that they have to sell their current house first, and another example is that their offer is conditional on the results of a home inspection. Buyer’s Market or Seller’s Market: In a buyer’s market, there...Read More

By: Thomas Cook

Don't Forget To Change Your Address When You Move For The HST Rebate

Don't Forget To Change Your Address When You Move For The HST Rebate

Five years ago, the Government of Ontario implemented the HST. The HST brought the tax on newly constructed homes from 5% to 13%, but they also created a rebate for buyers of these properties. However, the rules about types of homes are eligible and what types are not eligible are pretty strict. In Toronto Real Estate Lawyer Bob Aaron’s recent Toronto Star column, it’s vital that buyers make it clear that they intended to use the home as their residence before applying for the rebate. In the column, Mr. Aaron speaks of a recent court decision where a couple purchased a home near Toronto and lived in it for several months before breaking up and selling another few months later....Read More

By: Thomas Cook

Third record month in a row for sales in the GTA

Third record month in a row for sales in the GTA

Sales were up 18.3% for June compared to last year with 11,992 houses and condominiums changing hands in all the districts.  This was the third record-breaking month in a row with the most sales recorded by the Toronto Real Estate Board for any month ever!  Sales are actually up 39% above the last 15-year average. Condo townhouse and high-rise suites continued to take their 30% share of the market with 3,624 units being sold.  This was the second month in a row where we had the highest number of resale condos ever sold in a month. The June average sale price for all GTA homes came in at $639,184 – up 12.3% from 2014 – and down slightly from May. The active listi...Read More

By: Thomas Cook

Toronto Buyers And Sellers Can Now Sign Documents Electronically

Toronto Buyers And Sellers Can Now Sign Documents Electronically

Did you know that as of July 1st, home buyers and home sellers will be able to sign agreements of purchase and sale electronically? This change was just recently announced by the Government of Ontario and has been highly anticipated for a while. The president of the Ontario Real Estate Association, Patricia Verge, said that, “The agreement of purchase and sale is one of the most important documents in a real estate transaction. The ability to sign it electronically will make the process of buying or selling more efficient.”   The Ontario Real Estate Association also said, “Electronic signatures on agreements of purchase and sale will significantly reduce the time requ...Read More

By: Thomas Cook

Lakefront Home On Stoney Lake

Lakefront Home On Stoney Lake

Fabulous south-facing lake house / cottage on the best lake in the Kawarthas!   Enjoy over 900 feet of Stoney Lake shoreline and 5.26 acres of property with this 7-yr old custom built 3,000 sf + finished lower level lake house. The cottage is ideally situated—prevailing west or north winds often leave the water out front calm & perfect for all water sports—and the bay is off the main Trent Canal channel resulting in less boat traffic and better for kayaking and canoeing around all the nearby islands !   This is a stunning 4 + 1 bedroom all season lake house with gorgeous waterfront views. The main floor is open concept with living room, dining room, kitchen, library...Read More

By: Thomas Cook

A Chinese Firm Has Built A 57-Storey Condo In 3 Weeks

A Chinese Firm Has Built A 57-Storey Condo In 3 Weeks

A building firm in China has completed a 57-storey condo building complete with office space in only 18 working days. The firm used a technique that involved making pre-fabricated pieces and piecing them together one storey at a time. And to think, in other cities when buying a new condo we often have to wait years for it to be move-in ready! To accomplish this feat, the firm, Broad Sustainable Building, created over 2,700 modules in a factory for four months in advance. The modules were then assembled three storeys per day, like a jigsaw puzzle. See a timelapse video of the Chinese condo construction is available below! What do you think? ...Read More

By: Thomas Cook

Average Toronto Home Selling Price Hits $650,732

Average Toronto Home Selling Price Hits $650,732

The average selling price for a home in Toronto has increased to $650,732 during the first two weeks of June, a 12 per cent increase over the same time last year. “The familiar story of strong demand running up against a constrained supply of homes for sale continued to play out in the first half of June,” said the Director of Market Analysis for the Toronto Real Estate Board, Jason Mercer. “Modest growth in new listings was not enough to offset the pent-up demand that has built during the first half of 2015. As a result, strong competition between buyers continued to result in strong price growth.” The strong price growth was noted for both low-rise home types and ...Read More

By: Thomas Cook

Questions For A Toronto Real Estate Agent

Questions For A Toronto Real Estate Agent

Buying a home is a big deal, and choosing the right professional to help you through the process should include almost as much serious thought and consideration. After all, home transactions are huge financial decisions, and there are many intricacies involved. But there are many, many real estate agents to choose from, especially in this city! When meeting with agents to decide if you’re going to work with them, ask the following questions: What are the commissions or fees I need to pay? An agent should always be upfront with this, but remember that, as with most things, you get what you pay for. Do you have any references? Many real estate agents have testimonials on their website...Read More

By: Thomas Cook

Homebuyers Can Research Online, But Be Careful

Homebuyers Can Research Online, But Be Careful

There is so much information available to home buyers and sellers via the Internet these days. There's the regular news media along with helpful websites and countless "experts" who are ready to tell you what you need to do to sell your home, or how you need to prepare when buying a home. But with all of this information in front of you, it's easy to become more than a little lost. While the extra information can be helpful and it never hurts to know a little more about the buying and selling process, being a more informed buyer or seller doesn’t mean that a real estate agent won’t be a very valuable asset during your transaction. Pauline Aunger, the president...Read More