Dear Friend,
Another good month for sales in Toronto, as Toronto Real Estate Board members sold 6,8379 homes, 8.5% more than last August with the average price also being up 4.7% over the same month the previous year.
With only 21/2 months of homes in inventory in Toronto, by definition, it would appear to be a sellers’ market. It is in many areas, with well-priced homes selling quickly. In other areas, with inventory being at 5-7 months, it’s a buyers’ market.
Any disclosure of sold price information obtained from the MLS® system has to be consistent with the consent provided by the seller and buyer. You have to review the "Use and Distribution of Information" clause in the Listing and Buyer Agency Agreements and the related MLS® rules requiring that such consents be obtained for MLS® listings to determine whether the disclosure is permitted.
Reporting Inaccurate Sold Prices
September 12, 2018 -- TREB has received reports that some Members have been reporting inaccurate figures in the sold prices of their listings due to privacy concerns raised by their customers.
While TREB appreciates these privacy concerns, but inputting inaccurate sold prices into TREB's MLS® System is contrary to both TREB's MLS® Rules & Policies.
Simple answer - no.
A one-off event is no different than say a tree falling on your roof or a stove fire, etc.
Only when there is a strong chance of a recurrence does something have to be disclosed.
I will not get deep into blatant vs. latent defects, but blatant simply means, "easily found" while latent mean, "concealed." I have overly simplified.
Ontario might be suffering from a shortage of rain, but there was undoubtedly no drought of buyers when it came to home sales in Toronto.
July saw almost 7,000 transactions, up 18% over last July and prices rose 4.6% July 2018 over July 2017, and the average price now stands at $788,822.
At Realtron, our sales were up 19%, and we sold 941 homes from our inventory of 1543.
You are probably wondering where the discrepancy is. Some real estate agents believe the market is slow, while others, like myself, are saying the market is good. What’s going on?
For those who cry, “Toronto doesn’t respect its architectural heritage,” here’s a little story. A tale of moving heaven and earth – well, actually, brick, mortar, silicone moulds and some glass fibre-reinforced concrete – to create a heritage gateway at Yonge and Temperance Streets.
This tale also involves a ghost (albeit a friendly architectural one) and a developer who didn’t blink at some creative, costly solutions.
Rights of tenants and landlords still hazy as legalization looms
Tuesday, June 5, 2018
by Erin Ruddy
On October 1st, the new Cannabis Act will officially take effect, and no group of people is more concerned about the set of challenges legalization will likely bring than those managing (and living in) multi-residential communities.
Multigenerational households are becoming more common across the country.
As you are no doubt aware, legal marijuana is coming to Canada. The exact date that legislation will come into effect is still unknown, but is expected to be sometime later this summer, 2018. These significant changes raise the question of how the new legislation will affect condominiums and how the use of marijuana will be controlled.
Concerns
