What to Expect This Year in Toronto’s Spring Market

Last year was a rocket ship with respect to Toronto’s real estate market. A spring of record-breaking prices, followed by a quieter summer and fall; all while the condo market remained hot. The source of demand can be attributed to foreign owners, a strong local...
2017 Highlights

2017 Highlights

Sold Highest Over Asking – 80 Hogarth Avenue, Riverdale – Listed at $1,895,000 Most Expensive- 177 Teddington Park Avenue – Listed at $7,750,000 90 Roxborough Street East – Listed at $6,995,000 314 Palmerston Blvd, Little Italy – Listed at $ 5,995,000 Fixer Uppers –...
OSFI CONFIRMING CHANGES OF RESIDENTIAL MORTGAGE RULES

OSFI CONFIRMING CHANGES OF RESIDENTIAL MORTGAGE RULES

Recently, OSFI confirmed that their draft proposals for residential mortgage underwriting practices through revisions to Guideline B-20 are to become reality in January 1, 2018. The changes are threefold and impact the mortgage market by; Setting a higher qualifying...
A NEW TAX FOR THE GREATER GOLDEN HORSESHOE REGION

A NEW TAX FOR THE GREATER GOLDEN HORSESHOE REGION

Aimed at restoring semblance of affordability in certain area of the province, the Ontario government has introduced a tax on purchase of residential properties by foreign buyers as part of 16 measures introduced under Ontario’s Fair Housing Plan. Essentially,...
WHAT DOES IT MEAN AND HOW DOES IT AFFECT YOU?

WHAT DOES IT MEAN AND HOW DOES IT AFFECT YOU?

Many are concerned after a major shift in mortgage rules was announced by the federal government in October, driving up interest rates for consumers. The federal government says it’s responding to concerns that substantial increases in housing prices particularly in...

WHAT IS A POWER OF SALE?

In a Power of Sale (POS), the financial institution that holds the mortgage has taken over the sale of the property, as the current owner has failed to meet his repayment obligations. Powers of Sale are exceedingly rare in Toronto. There is a misconception by buyers...

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