Non-Resident Speculation Tax

Written by Lorne Shuman Last week, the Ontario Provincial Government introduced several measures designed to make housing more affordable and to cool the housing market in the Toronto area. This column will examine one of the most significant changes – the 15% Non-Resident Speculation Tax (NRST). The NRST is a 15 percent tax on the…

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GTA Realtors® Release Q1 Condo Market Report

TORONTO, ONTARIO, April 25, 2017 – Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported a double-digit annual increase in condominium apartment sales in the first quarter of 2017. A total of 7,251 condominium apartments changed hands through TREB’s MLS® System during the first three months of 2017 – up…

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GTA Realtors® Release Q1 Rental Market Report

TORONTO, ONTARIO, April 25, 2017 – Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 6,680 condominium apartment lease transactions through TREB’s MLS® System during the first quarter of 2017. This result was up by 3.5 per cent compared to the first quarter of 2016. The number of condominium apartments…

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Yes, You Actually Have to Clean Your Gutters!

The purpose of a gutter is to carry water away from a building to a good drainage area. If gutters are not cleaned, material will build up in the gutter channel and water will overflow onto the building and foundation. When this happens, a number of nasty side effects could occur. Overflows: Rain gutters and…

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TREB Releases Mid-April Sales Statistics

April 19, 2017 – Greater Toronto Area REALTORS® reported 6,098 transactions through TREB’s MLS® System during the first 14 days of April 2017. This result was up by 10.8 per cent in comparison to the same time period in March 2016. Sales were up for all major home types on a year-over-year basis – both…

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Avoiding a Bad Haircut This Spring

Pruning is much more than the simple act of sawing off limbs and should be a regular part of all tree and shrub maintenance programs. Pruning at the right time and in the right way is critical, since it is possible to kill a healthy tree through neglect or over-pruning. Essentially, pruning should enhance the…

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What About My Mortgage Pre-Approval?

Although going through the pre-approval process is important, the actual term ‘pre-approval’ is often misunderstood. An important point to be clear on is that while you may be pre-approved for a certain mortgage amount, there are several variables that can derail a final approval once you write an offer on a property. As such it…

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There’s Water in My Basement!

Finding water in your basement can be more than just a nuisance – musty smell, soggy carpets, affected hardwood – it can be a clear indication of larger problems with your home. First, how did it get there? Leaking pipes, poor drainage caused by clogged or broken gutters, or a rising water table in your…

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GTA Realtors® Release March Housing Market Stats

TORONTO, ONTARIO, April 5, 2017– Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 12,077 residential sales through TREB’s MLS® System in March 2017. This result represented a 17.7 per cent increase compared to the 10,260 sales reported in March 2016. For the TREB market area as a whole, annual…

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Residential Mortgage Rates as of April 4, 2017

Term Fixed Closed Rate 6 months 3.95% 1 Year 2.29% 2 Year 2.09% 3 Year 2.34% 4 Year 2.49% 5 Year 2.39% 7 Year 2.98% 10 Year 3.89% Prime = 2.70% Variable Closed (5 yr) = Prime minus 0.70% = 2.00% Variable Open = Prime plus 0.80% = 3.50% Secured Credit Lines = Prime plus…

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