By: Thomas Cook

Should The Toronto Land Transfer Tax Be An Election Issue?

According to Toronto Real Estate Lawyer Bob Aaron's latest Toronto Star column, it definitely should be.  The Toronto Real Estate Board has been putting a significant amount of effort into their campaign to phase out the Land Transfer Tax, which can add thousands to the cost of buying a home in the city and according to recent poll results, could have home buyers looking outside of the city to buy their homes. In his Toronto Star Column, Mr. Aaron suggests gradually increasing property taxes instead to make up nay budget shortfall, as Toronto's municipal taxes are much lower than that of surrounding areas. This would bring Toronto more in line with those areas withou...Read More

By: Thomas Cook

Does Your Home Insurance Policy In Toronto Really Cover You?

In the video, we learn that many homeowners whose homes were damaged in the severe flooding Toronto experienced over last summer weren't covered. In another part of the video, a woman who purchased mortgage life insurance was denied coverage after her husband died because of an error they made when filling out the form. The video is in three segments, informing viewers about loopholes and issues that can arise with car insurance, travel insurance and home or mortgage insurance. The video features Toronto Real Estate Lawyer Bob Aaron and is definitely worth viewing if you have a few spare minutes today! You can watch the video here. ...Read More

By: Thomas Cook

New Homeowners Discover Not Having Representation When They Buy May Cause Problems

Here's what may happen (in a slightly exaggerated way) if you buy a home without using the services of a buyer representative - which costs you nothing by the way. http://youtu.be/tRkNbNZ_DHQ ...Read More

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