By: Thomas Cook

Toronto Real Estate Lawyer: Who Owns That Tree On Your Property Boundary?

Toronto is full of beautiful tree lines. Many of these tree lines directly intersect your property and your neighbour's property, and it can be difficult to come to a decision about a sick tree if both neighbours don't agree. It’s a common question: Who owns a tree that’s on the boundary of a property between neighbours? According to the law as per the Forestry Act, a tree that’s directly on the boundary, meaning the trunk of the tree is growing on the boundary, is common property. If someone wants the tree removed, both neighbours must agree. The fact that the law does not define what is a trunk was brought up in the provincial Superior Court accor...Read More

By: Thomas Cook

Toronto Average Home Prices Increase 8% Mid-July 2014

According to the latest from the Toronto Real Estate Board, the average selling price for homes sold through the TorontoMLS listings in the first two weeks of July, 2014, were up by 8 per cent compared to July of last year, bringing the average selling price for a Toronto home to $549,174. “There are two key takeaways from the July mid-month results,” said Paul Etherington, Toronto Real Estate Board president. “First, given the strong continuation of strong sales growth, it is clear that buyers are still attracted to affordable home ownership options in the GTA. Second, if new listings growth begins to outpace sales growth, we could start to see an improvement in th...Read More

By: Thomas Cook

Highest Sales For June Since 2009 - Average Up 7.1% Year-Over-Year

Sales were 19% above average for June with 10,180 houses and condominiums changing hands in all the districts. Condo townhouse and high-rise suite share of the market increased slightly to just under 30% with 3,040 units being sold. The June average sale price for all GTA homes came in at almost $569,000– up 7.1% from 2013. The active listing inventory is one of the strongest indicators of how smooth or outrageous the market is going to be.  We had a 7.2% decline in inventory for the month of June compared to historical numbers and lower by 6.8% from last year at this time. The sales-to-listings OR percent-chance-of-selling ratio is how we determine what type of m...Read More

By: Thomas Cook

Average Home Price In Toronto Up 8.6% In June

According to the latest announcement from the Toronto Real Estate Board, the average selling price of a Toronto home sold through the Toronto MLS listings has increased by 8.6 per cent to an average of $582,100 in the first two weeks of June 2014 compared to the same time last year. “If the first two weeks of June are any indication, we may be seeing a turnaround in the supply of homes for sale in the Greater Toronto Area,” said Dianne Usher, the president of the Toronto Real Estate Board in a media release. “New listings were up on a year-over-year basis for most major home types in the City of Toronto and surrounding regions. However, sales growth outpaces growth ...Read More

By: Thomas Cook

Record Sales For May Toronto Home Sales With Average Sale Price Up By 7.9%

May 2014 Toronto Real Estate Market Report Sales were over 20% above average for May with 11,079 houses and condominiums changing hands in all the districts. Condo townhouses and high-rise suites had a reduced 27.5% share of the market with 3,046 units being sold. The May average sale price for all GTA homes came in just over $585,000– up 7.9% 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 an 10% decline in inventory for the month of May compared to historical numbers and lower ...Read More

By: Thomas Cook

Toronto Residents Want Mayoral Candidates That Support Toronto Land Transfer Tax Relief

A survey by the Toronto Real Estate Board conducted last month has shown that more than half of Toronto residents would prefer mayoral and councilor candidates that support some kind of Land Transfer Tax relief. Some highlights of the survey include: 67 per cent of Toronto residents who are planning to buy a home in the next 24 months will consider buying it outside of the city to avoid paying the tax. 58 per cent support a reduction in the Toronto Land Transfer Tax. 51 per cent are more likely to vote for a candidate (mayoral or councilor) that supports removing or reducing the Toronto Land Transfer Tax. According to Diane Usher, the preside...Read More

By: Thomas Cook

Downtown Toronto Condo Market Strengthens As Average Reaches $442,000

April 2014 Toronto Real Estate Market Report Sales were almost 12% above average for April with 9,706 houses and condominiums changing hands in all the districts. Condo townhouses and high-rise suites had a 28.6% share of the market with 2,778 units being sold. The April average sale price for all GTA homes came in at $577,898– up 9.8% from 2013. The active listing inventory is one of the strongest indicators of how smooth or outrageous the market is going to be. We had a 3% decline in inventory for the month of March compared to historical numbers and lower by 8% from last year at this time. The sales-to-listings OR percent-chance-of-selling ratio is how we determine w...Read More

By: Thomas Cook

Questions to Ask Your Toronto Real Estate Agent

Buying a home isn’t like getting a haircut. Asking your friends for a few recommendations only goes so far – buying a home is going to be the largest investment you ever make, and the person helping you with that purchase, your real estate agent, can’t be just anyone. Before you decide to work with a real estate agent in Toronto, make sure that you ask them the following questions so you’re on the same page with regards to your expectations: Are you experienced with this type of property? What price do you suggest I list my property at? How often will you be in touch? Do you have any references? Are you familiar with my neighbourhood? Are y...Read More

By: Thomas Cook

A Few Things To Consider Before You Buy A Home In Toronto

Buying a home can feel like an overwhelming experience, and there’s certainly a lot to think about. Because a home is one of the largest investments you’re likely to ever make, it’s important to properly think out your purchase. Before you buy a home, ask yourself: Have I been pre-approved for a mortgage? Getting pre-approved for a mortgage before you go home shopping is vital. It will let you know exactly what you can spend on a home and prevent you from being disappointed later. More importantly, it tells sellers and their agents that you’re serious when you put in an offer. Can I see myself in this neighbourhood? Make sure that you choose an...Read More

By: Thomas Cook

Which Renovations WIll Give You The Best Return On Your Investment When You Sell?

The best renovations are the ones that appeal to buyers while allowing you to increase the value of your home for sale to recoup your costs. So if you’re planning to renovate your home to increase its value before selling this year, which renovations are the ones you should be planning for? 1. Extra Suites There are many different possibilities for adding an income suite to your home, whether it’s an entire floor or the basement (just make sure you have the right permits and you’ve made your improvements the right way, first and foremost). This is one of the most expensive renovations, but the added value will be quite high. In addition if you choose not to sell...Read More