Archive for January 2016
Condo Market Tightened in Q4 2015
TORONTO, January 27, 2016 – Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 5,595 condominium apartment sales through TREB’s MLS® System during the fourth quarter of 2015. This result was up by 12.6 per cent compared to the same period in 2014. Over the same period of time, the…
Read MoreTREB Reports Q4 Rental Market Statistics for 2015
Toronto, January 27, 2016 ‐ Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 6,073 condominium apartment rentals through TREB’s MLS® System in the fourth quarter of 2015. This result represented a substantial 20.7 per cent increase compared to 5,032 rentals reported in Q4 2014. “While the ownership market is often top-of-mind when we think about condominium apartments in the GTA, it is important to remember that investor-held condos have become an increasingly important source of rental supply. Renters looking for mid to high-end units have tended to be pointed at condo rentals. Strong demand resulted in tighter market conditions in Q4,” said Mr. McLean.…
Read MoreSection 98 of the Condo Act – Its Importance for Buyers & Sellers
Section 98 of the Condominium Act, 1998 allows owners to make alterations to the exclusive use common element areas allocated to their unit as well as the other common element areas. Section 98 requires that for a unit owner to make any addition, alteration or improvement to the common elements, the improvement must be approved…
Read MoreResidential Mortgage Rates as of January 21, 2016
Term Fixed Closed Rate 6 months 3.95% 1 Year 2.29% 2 Year 2.24% 3 Year 2.34% 4 Year 2.49% 5 Year 2.49% 7 Year 3.44% 10 Year 3.84% Prime = 2.70% Variable Closed (5 yr) = Prime minus 0.50% = 2.20% Variable Open = Prime plus 0.80% = 3.50% Secured Credit Lines = Prime plus…
Read MoreTREB Reports Mid-January Sales Statistics
January 20, 2016 – Greater Toronto Area REALTORS® reported 1,583 sales through TREB’s MLS® System during the first 14 days of January 2016. This result represented a 15 per cent increase compared to 1,376 sales reported during the same time frame in 2015. Annual rates of sales growth were stronger in the areas surrounding the…
Read MoreRenovating To Age In Place
More than half of homeowners 60 and older say they intend to stay in their current homes indefinitely, according to a recent survey by Houzz. Fortunately for people who want to stay put, a range of home improvements can make it easier to remain in your home as you grow older. In fact, 60 percent…
Read MoreWindow Shopping To Save Energy
Today’s new high-performance windows can have a tremendous impact on your home in terms of energy conservation. National Resources Canada estimates windows and doors account for 25 per cent of all heat loss, so it makes sense to keep them in good repair. Existing windows can be made more efficient by retrofitting caulking and weatherstripping,…
Read MoreThinking of a Reno? Start with a Design Consultation
With an uncertain real estate market and soaring house prices in Toronto, many homeowners are opting to stay put and renovate rather than move. The housing stock is aging and people who have owned their homes for many years have equity value. This, and low interest rates, are making renovating an attractive alternative to moving.…
Read MoreJanuary HOMEwork
As you are cleaning up from the holidays, January is the perfect time to take a hard look at your home and prioritize repair or renovation projects. It’s a good idea to make a list of things that need to be done and start lining up quotes from contractors now before the trades get busier…
Read MoreNew Year’s Resolutions For Your Home
Most of us make a resolution or two as the new year rolls around; hit the gym more often, drop a few pounds, shake those bad habits. Homeowners, too, should make a few resolutions of their own that will pay off in lower expenses and higher real estate value: Maintain your home – It makes…
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