By: Thomas Cook

Toronto Semi-Detached House Average Hits $658,000

March 2014 Toronto Real Estate Market Report Sales were right at average for March with 8,081 houses and condominiums changing hands in all the districts. Condo townhouses and high-rise suites had a 30.8% share of the market with 2,487 units being sold. The March average sale price for all GTA homes came in at $557,684– up 7.3% 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 7% decline in inventory for the month of March compared to historical numbers and lower by 10...Read More

By: Thomas Cook

Monthly Rent For A Two-Bedroom Condo Hits Average $2,155 In Toronto

The Toronto Real Estate Board has released its condo rental market statistics for the first quarter of 2014, finding that the average rent for a two-bedroom unit during this time increased by 1.9 per cent over the same time last year to $2,155. The average rent for a one-bedroom unit was down by 1.6 per cent, to an average of $1573. The president of the Toronto Real Estate Board, Dianne Usher, had the following to say: “Renters took advantage of an increased supply of investor-owned units listed for rent in the first quarter. These units, with modern finishes, chose amenities and locations in popular neighbourhoods attracted a growing number of renter households, including youn...Read More

By: Thomas Cook

Considering Buying A Toronto Home With Friends Or Family?

Taking a less traditional approach to buying a home is something that a lot of buyers might consider, especially if the plan is to use the property as an investment property.  TD Canada Trust recently released a helpful article on the considerations buyers should make when they’re planning to purchase a home as a group with family or friends. “Whether buying a home on your own or together in partnership with family members or friends, many of the guiding principles remain the same,” said the Associate Vice President of Retail Products at TD, Michelle Snow. “Start by setting a realistic budget, talking to a mortgage specialist for advice and taking the...Read More

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