Do you know the tenancy laws in Ontario? The tenancy laws in Ontario can get complicated for both Landlords and Tenants. So I was excited to interview Bita Di Lisi, founder of Stonegate Legal Services, who's firm is dedicated to helping Landlords through the tricky Ontario Residential Tenancy Act (RTA). It's a great interview covering the rental laws and what is permissible such as: • What...
Real Estate
The average home sold for $1,146,254 across the GTA, which is an increase of +5.2% since last year.
Can you just "get out" of a contract? When the real estate market is good, Sellers always ask if they can get out of the contract and find another Buyer. Similarly, now that the market has cooled a little bit, Buyers ask if they can somehow get out of the deal because the property isn't worth as much as it used to be! First off, a firm deal is a firm deal. It means that the Buyer promised a...
Pretty much everyone I talk with and the Media are saying the same thing - it's a Buyer's Market out there! But is this true? Due to many factors, such as the interest rates, the average price of homes have been falling. If you are looking to buy, properties are sitting longer on the market and there is much more selection out there. Since February, it's been dropping month after month. ...
The average home sold for $1,212,806 across the GTA, which is an increase of +9.4% since last year.
Still undecided about the election? I just wanted to touch on the government as it relates to real estate. Real estate is under the jurisdiction of the Province, and so which Party in power is important. Except for the rare circumstances when the Federal government gets involved (Foreign Buyers Tax, Principal Tax Exemption, HST or Capital Gains etc), the Province is responsible for everything...
There has been a lot of Buyer's Remorse reported in the media, but I don't think it's anything new. During market upswings, Sellers often have remorse that they "sold too soon!" and during downswings, Buyers often feel they "bought too soon!" It's impossible to predict the future, so all you can do is make the right decision based on the information you have at the time. A word of caution! I've been...
This is another story in the media about Buyers losing money when dealing with preconstruction buildings. As the article states (not proven in court yet), Boss Luxury Towns was a 72-townhouse project in Richmond Hill. The builder was operating without a license and so the project was cancelled. Unfortunately, only $100k of the deposits are "protected" and so some Buyers may potentially...
In April 2022, the average home sold for $1,254,436. This is down -3.5% from last month, but up +15.0% from last year! There were 8,008 sales in April which is 41.2% lower than in 2021. So what does this mean for you? If you’re buying… This is an excellent opportunity to get what you want without as much competition. Possibly at a discount! And for the Buyers who don't want as...
The average home sold for $1,254,436 across the GTA, which is an increase of +15.0% since last year.