It seems the impossible has happened… the once flaming Toronto Condo market, has cooled down. Both the resale and rental market have been heavily impacted, with many investors feeling the pain. A complete elimination of Airbnb, high vacancy rates, rapidly declining rental rates and high days on market (DOM) have been leading many investors to sell their once sought ofter properties, thus adding to the supply. So, let’s take a look at what is happening.   The... [read more]

What’s Happening Now and A Look Ahead   In the midst of a global pandemic, the GTA housing market continues to astound and defy its critics. In the last several months, we’ve seen an incredible comeback; from a spring that could almost be described as frozen, to a red hot summer with incredible growth and activity.    Across the GTA in all home types, prices increased an average of 20% from Aug 2019 to Aug 2020. And total residential transactions (sales)... [read more]

With months of pent-up buyer demand combined with the gradual reopening of the GTA in June, the stage was set for a very active Real Estate market, and the numbers did not disappoint.    According to the Toronto Real Estate Board (TREB), the average selling price across all home types rose to $930,869, up 11.9% compared to June 2019. Since the COVID lock down began, we have seen a considerable reduction in the number of sales in both April and May, however, actual June... [read more]

  Every industry has adapted to the unprecedented times that we are facing, and Real Estate is no different. While the volume of transactions has fallen dramatically in the past two months, the balance between new listings and sales has remained level. As a result, the April average price in the GTA did not see a drop, year-over-year. And, while we are not seeing the super-hot conditions of February, this more balanced market can be a welcome change for both buyers and... [read more]

After 6 weeks of intense social distancing, isn’t it crazy how this strange new reality has started to feel “normal”?  While it’s easy to fill your time watching endless COVID-19 news stories and feeling panicked by the uncertainty we are facing, a change of mindset can help us view this free, uninterrupted time, as gift.    How about attacking some of those projects that you’ve never had time for? This is the perfect time to work on the goal... [read more]

For those of you who follow me on Social Media, you may have seen my video post on deferring mortgages. Much to my surprise, that post was hugely popular with tons of shares, comments and views! I figure one of two things were happening, either people have a lot of extra time on their hands, or they really are wondering about deferring their mortgages.   What’s the deal?   The big six banks (TD, RBC, CIBC, Scotia, Bank of Montreal and National) have decided to offer... [read more]

Yes, but “right-sizing” could be just the right medicine!   The Crisis of Social Isolation Your family home, once a bustling hub of activity, may have become a much quieter a place in your older years. Research shows that older Canadians are growing increasingly lonely and isolated, enough so that some are calling it a public health crisis. Mariam Larson, a gerontologist and coordinator with Allies in Aging says, "It's worse than smoking. It's worse... [read more]

Renovating your home to update its look, or better fit your family’s needs, is a great investment in your life, especially if you plan to stay in your home for the next several years. However, it’s also important to have a sense  of the kind of return your renovations will give you, should you decide to sell. A few things to consider…   Understand Your Neighbourhood!   There are certain renovations that are simply a must. For example, in my... [read more]

Your older years deserve a Right-Sizing of your living space that fits with your new reality. This is not the end of your ‘prime’ years but the next step in a simpler more fulfilling time in life. Move past the negativity that the term "downsizing" can bring. Right-sizing into your ideal home should be nothing but exciting and positive!   We are so fortunate to be living in a time when life expectancy is the longest it has ever been, and more importantly, many... [read more]

  I’m not sure if I can count how often I get asked, “What’s happening with the housing market???” If you live in the GTA, it seems to be everyone’s favourite topic of conversation! And, why not; it’s been a roller-coaster ride over the the past several years. From the frenzy of 2016-early 2017 bidding wars and sky-high prices, to the abrupt downturn and stagnation of the market in mid 2017 through 2018, the housing market has been continuously in... [read more]

                         Whether you are a first-time home buyer or a mature adult looking to downsize, condos can be a great way to get or stay in the home ownership game. You may, however, be feeling concerned about condo fees; how do they work and how will they impact your monthly budget. Read on for the six important things to know about condo fees…   1. How are Condo fees charged? Condo fees... [read more]

               Whether you are just starting retirement, or winding down your work to a slower pace, it’s time to have that first conversation with your loved ones about downsizing. Hitting your early 60s is a transitional time, and it marks the perfect point at which to examine how your home is working for your current life and the life that you plan for your future.    To get you started, think about the following... [read more]

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As you’ve probably been hearing, the GTA housing market has been sluggish for the past several months. Houses are getting listed and often sitting on the market for weeks, sometimes needing a price reduction. This is a scenario that we haven’t seen in the GTA for years. Up until nine months ago, GTA home buyers were being faced with rapidly increasing prices and massive competition for homes.          So, why am I telling my clients that now is a great... [read more]

For anyone who follows the news, you know that 2017 was a whirlwind year for Real Estate in the GTA. Winter and early spring saw a red hot housing market. Houses were literally flying off the market with multiple offers and astronomically high sold prices. Then, BOOM, in the end of April, the government implemented the Foreign Buyers Tax and the residential market virtually froze. After a very quiet summer and early fall, we ended the year with plenty of inventory on the market and a small... [read more]

In the unfortunate circumstance that a homeowner is past-due on their monthly mortgage payments, they pave the way for a “foreclosure” on their property. In today’s market, banks and other lenders do not turn to foreclosure to take away the homes of homeowners who are in arrears. Instead, they perform a "Power of Sale" which is wholly different from a Foreclosure. What is a Foreclosure? Foreclosures are laborious, grueling, and costly to both the... [read more]