Featured Investment of the Week


Asking just $1,390,000 

Fantastic opportunity to purchase this legal 9 room rooming house, plus you can also purchase the adjoining legal 8 room rooming house for another $1,390,000. This property has tremendous potential, and the basement has yet to be developed.

Please contact me today for more details or to schedule an appointment to view this amazing opportunity before it's SOLD.

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GTA REALTORS® Report Monthly Resale Housing Figures

TORONTO, October 5th, 2016 - Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 9,902 sales through TREB’s MLS® System in September 2016.

This result was up by 21.5 per cent compared to September 2015. For the region as a whole, strong annual rates of sales growth were experienced for all major home types. The pace of detached sales growth was slower in the City of Toronto and the number of semi-detached sales was down compared to last year. In both cases, the year-over-year dip in new listings was likely the issue.

“We continued to see strong demand for ownership housing up against a short supply of listings in the Greater Toronto Area in September. The sustained lack of inventory in many neighbourhoods across the GTA continued to underpin high rates of price growth for all home types,” said Mr. Cerqua.

Both the MLS® Home Price Index (HPI) Composite Benchmark and the average selling price for all home types combined were up strongly on a year-over-year basis in September. The MLS® HPI Composite Benchmark grew by 18 per cent compared to September 2015. The average selling price was up by 20.4 per cent to $755,755. It is important to remember that the MLS® HPI provides a price growth measure for a benchmark home, thereby allowing for an apples-to-apples comparison from one year to the next. The average selling price can be influenced by changes in both market conditions and the mix of homes sold.

“The Toronto Real Estate Board will be closely monitoring how the recent changes to Federal mortgage lending guidelines and capital gains tax exemption rules impact the housing market in the Greater Toronto Area. While these changes are pointed at the demand for ownership housing, it is important to note that much of the upward pressure on home prices in the GTA has been based on the declining inventory of homes available for sale,” said Jason Mercer, TREB’s Director of Market Analysis.

Source: Toronto Real Estate Board

Please feel free to contact me for a complete copy of the Market Watch Report.

GTA Commercial REALTORS® Report Commercial Market Figures

TORONTO, October 5th, 2016 Toronto Real Estate Board President Larry Cerqua announced that the total amount of leased space reported through TREB’s MLS® System in the third quarter of 2016 was up substantially on a year-over-year basis. There was a combined 6,592,818 square feet of industrial, commercial/retail and office space leased – up 34.8 per cent compared to the third quarter of 2015. It is important to note that the Q3 2015 results did represent a substantial dip compared to the same period in 2014.

More than three quarters of total space leased in Q3 2016 was in the industrial market segment. The average industrial lease rate on a per square foot net basis, for transactions with pricing disclosed, was up by 8.8 per cent to $5.80 compared to $5.33 in Q3 2015. The average commercial lease rate was down on a year-over-year basis, while the office lease rate was up compared to last year.

“The Canadian economy over the last year has been marked by regional differences. The Greater Toronto Area has benefited from a diverse economic base and, as a result, the regional economy has been relatively strong with the unemployment rate generally trending lower. This may be why we experienced an uptick in leasing activity. However, there remains some uncertainty in the economic outlook, especially as it relates to exports, and this could impact commercial leasing and sales activity moving forward,” said Mr. Cerqua.

The number of combined industrial, commercial/retail and office property transactions was down in Q3 2016 compared to a year earlier, with 216 properties changing hands versus 327 properties in Q3 2015.

While the number of sales were down year-over-year, average selling prices on a per square foot basis, for transactions where pricing was disclosed, proved resilient. Average selling prices were up for all three major market segments. The large increase in the office property average price was largely due to a shift in the size and location of properties sold this year compared to last, with some larger properties changing hands in Toronto’s central core.

Source: Toronto Real Estate Board

Please feel free to contact me for a complete copy of the Market Watch Report.

New down payment rules in effect as of February 15th, 2016

Canada's Finance Minister Bill Morneau has announced the new down payment requirements which will come into effect on February 15th, 2016.

The minimum down payment for new insured mortgages will increase from 5% to 10% for the portion of the house or condo price above $500,000. Currently if you are buying a home for $650,000, the minimum down payment required is $32,500, effective February 15th, you would need an additional $7,500 for a total down payment of $40,000. 

This measure will see home buyers going into a home with a little bit more equity.

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It's a Great Time to Buy!!!

This is truly a great time to buy, after all, interest rates are at an all time low. You are either going to be paying your Landlord's mortgage or you will be paying your own mortgage. Call me today for a no obligation meeting.

Great News for First Time Home Buyers

December 13, 2007


First-time buyers of resale homes to benefit from new tax measure

The Provincial government is giving all first-time homebuyers a break on land transfer tax by proposing to expand the Land Transfer Tax Refund Program to include purchases of resale homes, Finance Minister Dwight Duncan announced today.

"Expanding this Land Transfer Tax refund is an important part of our government's commitment to helping Ontarians buying their first home," Duncan said.

Effective midnight tonight, first-time buyers of resale homes, as well as newly constructed homes, would be eligible for a refund from the provincial government of up to $2,000 of the Land Transfer Tax paid.

For more information please click here: Land Transfer Tax Refund Program


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If you are thinking of SELLING or BUYING Residential or Commercial Real Estate in the Greater Toronto Area (Toronto, Mississauga, Brampton, Caledon, Georgetown, Milton, Oakville and surrounding areas), I would be please to work with you.

Please feel free to browse through my site and if you have any further questions regarding the Selling or Buying process or if you would like more information on my services, please give me a call or simply send me an email.

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