Toronto Real Estate Blog - Condos, Lofts & Homes

GTA REALTORS® RELEASE MONTHLY RESALE HOUSING FIGURES

2013-06-05T17:37:49Z

Greater Toronto Area (GTA) REALTORS® reported 10,182 sales through the TorontoMLS system in May 2013, representing a dip of 3.4 per cent compared to May 2012. Sales of single-detached homes in the GTA were up by almost one per cent compared to the same period last year, including a three per cent year-over-year increase in the City of Toronto.

“The sales picture in the GTA has improved markedly over the past two months. While the number of transactions in April and May remained below last year’s levels, the rate of decline has been much smaller. A growing number of households who put their decision to purchase on hold as a result of stricter lending guidelines are starting to become active again in the ownership market,” said Toronto Real Estate Board President Ann Hannah.

Stocks always trump real estate

2013-06-04T17:24:24Z

North American stock markets continue to reach new highs every day but don’t tell anybody in organized real estate about it.

It’s not something the industry wants to hear.

Basement units must comply with code

2013-06-04T17:16:27Z

When real estate agents prepare offers for a house with a basement apartment, they typically insert a clause stating that “seller does not warrant retrofit status.”

This results in the purchaser taking the risk of getting caught by city inspectors and having to vacate the unit and forfeit rental income.

Agents and sellers seem to think they are sheltered from liability if they do not “warrant” the basement’s so-called retrofit status.

GTA REALTORS® RELEASE MID-MONTH RESALE HOUSING FIGURES

2013-05-16T16:07:00Z

Greater Toronto Area REALTORS® reported 4,476 transactions through the TorontoMLS system during the first 14 days of May. This result represented a decline of 9.7 per cent compared to the same period in 2012. Sales declines were larger for the City of Toronto, at 11.4 per cent, versus the surrounding regions where sales were down by 8.6 per cent year-over-year.

“Despite fewer sales this year compared to last, competition between buyers in most segments of the market remained strong enough to promote annual rates of price growth above the rate of inflation. A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home,” said Toronto Real Estate Board President Ann Hannah.

Budget for condo fees to climb after one year

2013-05-14T17:59:31Z

Q We just purchased a new condo eight months ago and I hear our condo fees may increase significantly once the developer’s budget ends this year. Why would we need any significant increase when everything is so new and doesn’t need significant repairs or anything? I can understand a small increase but not a significant one. Your comments please!

Condo Quandary

2013-05-06T16:42:00Z

Top six factors to consider when deciding whether to move from sprawl to small

Many buyers looking for a lifestyle change wonder what it would be like to live in a condo. The move they are considering could be lateral financially and/or space-wise or it could be related to the need for a space change. For others, it will simply be a change from renting to ownership.

But how do you decide if condo ownership is right for you? If you’re in doubt, I suggest a classic categorizing of pros and cons. Here are some.

GTA REALTORS® RELEASE MONTHLY RESALE HOUSING FIGURES

2013-05-03T14:41:00Z

Greater Toronto Area REALTORS® reported 9,811 sales through the TorontoMLS system in April 2013, representing a dip of two per cent in comparison to 10,021 transactions in April 2012. Both new listings during the month and active listings at the end of April were up on a year-over-year basis.

“Despite the headwinds we have experienced in the housing market this year, April sales came in quite strong in comparison to last year. As we move through the spring and into the second half of 2013, the demand for home ownership should continue to firm-up relative to last year,” said Toronto Real Estate Board President Ann Hannah.

Earth Day Canada: Resources Guides & Tips

2013-04-26T18:36:26Z

Apartments and condos:
http://www.earthday.ca/pub/resources/assets/pdfs/guides/guide_apts_and_condos.pdf

For the cottage:
http://www.earthday.ca/pub/resources/assets/pdfs/guides/guide_cottagetips.pdf

An environmentally friendly renovation

2013-04-26T18:28:25Z

There's no question that the need for more energy efficient, earth-friendly design is becoming an increasing imperative, and in some cases, governments are actually legislating a certain level of environmental sustainability through new "green" bylaws. But does incorporating the environment into building or renovation plans mean compromising design, forgoing comfort and luxury, or living with expensive, sometimes temperamental technologies? Absolutely not: as a number of recent projects by the Toronto architectural firm of Moss-Sund demonstrate, green principles can be the springboard for beautiful and highly livable design.

Condo Market Remains Well Supplied in Q1

2013-04-23T16:38:54Z

Greater Toronto Area REALTORS® reported 4,133 condominium apartment sales through the TorontoMLS system during the first quarter of 2013. This result was down by approximately 17 per cent in comparison to the first quarter of 2012.

New listings of condominium apartments were also down on a year-over-basis in the first quarter, but by a lesser annual rate of five per cent.