MY TORONTO

Toronto Real Estate Prices: 2018 & Beyond Now that summer has said goodbye, a new season of the real estate year has begun. Fall tends to be the second busiest time of the year for buying and selling properties. Families that were busy enjoying the good weather at home or abroad now have the time to look at available listings and it is early enough in the school year to change if they have school-aged children. What does this mean for Toronto real estate prices? House Prices for the End of the Year A  September analysis  of Toronto real estate prices shows that overall things are doing well. Some shining statistics to boast about are a reported increase in the average selling price of all housing types in the area: up 2.9% to $796,786 – a respectable year-over-year gain. Resale home transactions are also up 1.9% compared to the previous year. If you are a condo owner looking to sell, you will be happy to know that in the Toronto region condo prices in...

SHAWN Have a spook-tacular Halloween!     ...

Canada Mortgage and Housing Corporaon (CMHC) released today its annual Mortgage Consumer Survey (MCS). The largest survey of its kind, the MCS has been conducted since 1999 and provides insight into the behaviours, atudes and expectaons of Canadians when they acquire, renew or refinance a mortgage. In April 2018, CMHC completed an online survey of 4,000 recent mortgage consumers, all prime household decision makers who had undertaken a mortgage transacon in the past 12 months. Sixty-eight percent had renewed their mortgage, 15% had refinanced their mortgage, and 16% had purchased a home with mortgage financing (9% first-me buyers and 7% repeat buyers). Total results were weighted to reflect the actual proporon of households in each region.

BUYING A CONDO FOR INVESTMENT Are you thinking about buying a condo for investment? With 60,000 condo units currently under construction in the Greater Toronto Area and another 20,000 due to be constructed between now and 2021 – it appears these days that condos are a dangling carrot. But before you take a bite into a big opportunity, there are some important things to know about buying a condo for investment. Here are some important things to consider and/or prepare for before diving in. Do NOT Trust The Floor Plan! A common misconception many people make when condo hunting is assuming the square footage of a condo only includes the living space and not the balcony or the washroom. This is true of condos for resale, but not for new and pre-sale condos! When it comes to new and pre-sale condos, balconies and/or terraces are almost always included in the total square footage of the suite. It can be a very tricky business, and the rooms may not end up looking like wha...

POPPING THE TORONTO HOUSING BUBBLE MYTH It seems to be in everyone’s conversations: the Toronto housing bubble. Many speak of it in hushed tones and worried glances, yet when pressed about it they cannot explain why. One reason for this is because they may not have taken the time to read the research. I am here to quell any concerns and pop the Toronto housing bubble myth. Is the Toronto Housing Bubble Real?  Many people will read a headline such as “property transactions are at their lowest level since the 2009 recession”. This is, indeed, a true statement but it is not an accurate barometer for the health of the housing market. We need to look at relative comparisons and more specific indicators. For example, there were positive signs in the Toronto housing market this summer when it came to average selling prices of homes, as well as the number of homes for sale.  If we zoom in on sales in July 2018 , we can see that sales were up by more than 18% when com...

FOUR GREAT VIDEOS FROM CARSON DUNLOP HOME INSPECTION - "FUN HOUSEHOLD TRICKS": ONE : TWO : THREE : FOUR :

5 NEGOTIATING TACTICS THAT KILL A SALE Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers ( and real estate professionals ) should avoid: 1. Lowball offers : Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer. 2. Incremental negotiations : Don’t continue to go back to the seller with small increases in your offer ( $1,000 or less ). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities. 3. “Take it or leave it” : Try not to draw a line in the sand with your initial offer. The seller can get de...

TREB's MARKET WATCH REPORT for SEPTEMBER 2018 from Shawn Venasse