MY TORONTO by SHAWN VENASSE - Sales Representative

  NO CRASH IN SIGHT FOR TORONTO's REAL ESTATE MARKET - AT LEAST NOT YET... Fears of a crash or collapse to the Toronto real estate market seems increasingly unlikely. Checkout this report on BNN Bloomberg feature Jason Mercer, the Toronto Regional Real Estate Board's Chief Analyst.  In addition to the facts Mr. Mercer quotes about increasing prices due to plunging numbers of new listings, we are also seeing the rental market returning to pre-Covid-19 levels as well as the general condo market.  See below for additional details.   RESOURCES : LACKIE: Don't fear a real-estate crash, but supply must improve - Toronto Sun (6 Sep 21) Greater Toronto Real Estate Market Report - Re/Max (18 Aug 21) Toronto home prices hit $1.1M with supply at decade low - bnn bloomberg (3 sep 21) Canada housing coming off the boil, but still on the burner - yahoo finance (20 aug 21)

A Seller's equity in their home is the difference between what the home is worth and what they owe.   At any point in time, it is an estimation because value is a very subjective term.   If the seller thinks the home is worth more than an actual buyer will pay for it, the estimated equity is too high.   If a buyer is willing to pay more than the seller believes the home is worth, the estimated equity is too low. A true determination of equity becomes more objective when the home is sold, and the value is solidified by the sales price.   This value is determined by negotiations between a seller and buyer and eliminate speculation and conjecture because money and title are being exchanged. The equity being defined above is more accurately referred to as Gross Equity.   After the ordinary and necessary expenses connected with the sale of a property are deducted from the sales price, along with any mortgage balance and/or liens, the proceeds are referred to as N...