By: Thomas Cook

Toronto Average Home Sale Price Increases Almost 6% In Mid-March

The Toronto Real Estate Board says in it's latest TorontoMLS statistics release that the average selling price of a home in toronto has increased by six per cent during the first two weeks of March compared to the same time last year. According to Jason Mercer, the senior manager of Market Analysis for the Toronto Real Estate Board, "Semi-detached houses represent a more affordable ownership option for some households. Because of this, some semi-detached listings have attracted many interested buyers. This competition has served to exert strong upward pressure on the average selling price." Home sales during the first half of March 2014 were basically the same as du...Read More

By: Thomas Cook

Give Your Toronto Home A Spring Check-Up

The busy spring market is here! Keeping your home properly maintained is an integral part of maintaining its value, and this is especially important if you intend to sell this year. Here are some tips on the best ways to give your home a bit of a check-up, which will prevent more costly issues from arising later on. Check your roof. If you're not comfortable doing it yourself, you can get a roof inspection done. Missing shingles or even a roof in minor disrepair can lead to moisture intrusion and very expensive and necessary repairs later on. Gain some peace of mind for the time being! Oh, and while you're up there - clean your cutters. All of last year's leaves can p...Read More

By: Thomas Cook

Canadian Real Estate Association Updates Home Sales Forecast

The Canadian Real Estate Association has announced that it's updated its national home sales activity forecast for 2014 and extended it into 2015. While home sales across the country started out a little lower in 2014, the Canadian Real Estate Association expects that home sales into the spring and summer will be higher thanks to Canadian economic growth. "I expect fixed mortgage rates will edge marginally higher in the second half of 2014 as evidence confirms an anticipated pick-up in economic growth," said the Canadian Real Estate Association's Chief Economist, Gregory Klump, in a press release. "Marginally higher mortgage rates are likely to counterbalan...Read More

By: Thomas Cook

Toronto Single-Family House Average Hits $955,000

February 2014 Toronto Real Estate Market Report Sales were 7% below average for February with 5,731 houses and condominiums changing hands in all the districts. Condo townhouses and high-rise suites had a 33% share of the market with 1,888 units being sold. The February average sale price for all GTA homes came in at $553,193– up 8.3% from 2013.  I’ll show you a graph of the average sale prices over the past several years in just a moment. The active listing inventory is one of the strongest indicators of how smooth or outrageous the market is going to be.  We had a 5.3% decline in inventory for the month of February compared to historical numbers and...Read More

By: Thomas Cook

Keep Your Toronto Home Safe - What Thieves Won't Tell You

Going away? We have some tips on making sure that your home is safe so you can have a bit more peace of mind when you go on vacation, or even leave for work. While most contractors are reputable, having work done on your house allows more unscrupulous people a great opportunity to scope out your home and leave certain windows unlocked to come back to later. If you have strangers in your home for any reason (such as a contractor asking to use the bathroom while they're there), double-check that the windows are locked afterwards. When you go away, it's a good idea to make sure your home doesn't seem empty. Set your lights on timers so your home isn't dark at night (...Read More

By: Thomas Cook

Protecting Yourself From Mortgage Fraud In Toronto

Once in a while, "mortgage fraud" garners some huge headlines. Every industry has potential for fraud, but there are several different types of mortgage fraud, most of which involve misrepresentation. Types of mortgage fraud: Using a straw buyer. In this instance, someone will ask a person who has good credit to apply for a mortgage on their behalf, while the crook will promise to make all of the payments. However, they don't, and the person who allowed themselves to have their name used is left on the hook. Misrepresenting yourself on purpose in order to obtain a mortgage can also be considered mortgage fraud. This includes misinformation about your job, salary,...Read More

By: Thomas Cook

Top 4 Tips For Downsizing Your Toronto Real Estate

Many homeowners choose to downsize their real estate - move to a smaller home or a condo in Toronto from their larger family home - for a variety of reasons. Having a smaller space can come with significant advantages - like little to no maintenance, for example - but moving your life into a smaller space can take a bit of work. Make a list of things that you can get rid of.  If you've had your home for a while you've likely accumulated lots of "stuff". Storage space in your new home or condo may be must smaller or less available, so it's time to determine what you can leave behind. It doesn't have to be wasteful, you can recycle it, donate it or sell i...Read More

By: Thomas Cook

They Ought To Be Ashamed!

Economists like David Madani from Capital Economics and other media gurus like Garth Turner have been counselling people to avoid buying real estate for several years now because 'the sky is falling'. Madani has been calling for a 25% downward correction for 2-4 years now and the the glass is always half empty for Turner. So what's the big deal? Their way-off predictions and scare mongering has dissuaded a certain percentage of first-time buyers from making the jump into home ownership or delaying their purchase for 12-24 months. This has caused that group to miss out on significant wealth building from cross-Canada real estate ownership. Here's the reality......Read More

By: Thomas Cook

Quarter Of Canadians Say Their Home Will Be Their Primary Source Of Retirement Income

According to a recent survey by Ipsos, 24% of Canadian homeowners say that they expect their home will be their primary source of retirement income. Home prices continue to rise in big Canadian cities like Toronto, and some Canadian homeowners are seeing this as an opportunity to have more income once they stop working. A few more Canadians expect to be fully retired at the age of 66 (28%) while at least 29% expect to continue working part-time. Two-thirds of those who say they'll be working past the retirement age of 66 say they will because they have to, while 35% say they will because they want to. The poll also suggests that the average Canadian expects 10% of their retir...Read More

By: Thomas Cook

Selling Your Toronto Home: Advice For Home Staging

The CBC just published a great article about staging your home before you sell it. Staging your home is one of the most important things anyone can do before selling their home in Toronto. It provides any prospective buyers with a vital first impression and helps them visualize themselves living in the home you're selling. What are some of the most important parts of the home staging process according to the article? Decluttering: Decluttering is essential. A cluttered home is not a home that any buyer can visualize themselves in. A home that is free of clutter is spacious, airy and clean-looking, almost ready for a new buyer to move straight in. Remove, sell or donate what y...Read More