A Look at the Numbers: 1982: Average house price in Canada — $72,500 2015: Average house price in Canada — $439,100 1982: Average five-year fixed mortgage rate (March) — 19.4% 2015: Average five-year fixed mortgage rate (March) — 3.8% 1982: Outstanding residential mortgages — $30-billion 2015: Outstanding residential mortgages — $953-billion Sources: CREA, Statscan
If inflation were the only factor, how much would real estate in Toronto really cost? When we read headlines related to Toronto’s real estate market, they’re usually highlighting climbing housing costs in the city. One hundred years ago, it would be hard to believe that the average price of a detached home would …
The shortage of active listings reported through Toronto MLS ®, drives demand and average selling price of homes up With the average selling price of a home in Toronto currently sitting at $649,599—it’s safe to say that Toronto’s real estate market shows no signs of cooling down this summer. Last week, Toronto Real Estate Board …
Toronto Real Estate Board Market Watch — Record Sales for May 2015 Read More »
… The snow stops and the constructions starts.
Effective today, June 1, 2015, Canada Mortgage and Housing Corporation (CMHC) is increasing mortgage insurance premiums by 15 per cent for homebuyers making less than a 10 per cent down payment. Mortgage insurance is typically required by lenders if a homebuyer’s down payment is less than 20% of the total purchase price of the home. …
CMHC Mortgage Insurance Premiums Increase — How will the changes affect you? Read More »
Baby Boomers vs. Millennials — Gen Y has a slightly different approach to real estate.
What does it mean to be rich? Is it a fancy car parked in your driveway? Maybe a six or seven figure salary? For many Canadians, wealth is measured monetarily—the amount in your savings and chequing accounts, RRSPs, investments, and value of your assets. It seems as though people are on a constant chase for …
Toronto Property Management through the eyes of kids — It’s a tough job, but someone’s got to do it!
Selling your Home this Summer? We can finally say “goodbye” to sub-zero temperatures, “hello” to sunshine and what is seemingly shaping up to be a beautiful summer. Not only is this a great time to participate in a variety of outdoor activities that we’ve been aching to do all winter, this season is optimal for …
6 Reasons Why the Now is Best Time to Sell A House in Toronto Read More »
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