Steven Maislin's blog
Today’s real estate market is becoming increasingly competitive. With various legal and regulatory aspects of forms and transactions, it is imperative to gain an understanding and knowledge especially when it comes to the standards and obligations of your Broker. Contact me as an OREA member I now have access to multiple tutorials.
Deals are going bad as buyers and lenders take a tougher look at home values.
The sharp reversal in Toronto's home prices has thrown Canada's biggest property market into chaos, with scores of buyers suddenly short of money and desperate to get out of deals that looked good just a few months ago.
TREB recently posted that the Canadian Real Estate Association (CREA) issued a submission on proposed mortgage regulations. Canada's bank regulator, the Office of the Superintendent of Financial Institutions (OSFI), is considering changes to Guideline B-20 Residential Mortgage Insurance Underwriting Practices and Procedures. TREB has submitted a letter to OSFI in support of CREA's position, raising concerns over proposed changes to housing finance rules that could have an imbalanced effect on the Canadian housing market and put affordability at risk.
The City of Toronto is continuing to consult with the public on the potential implementation of a tax on vacant residential units.
Click here to view background information provided by City Staff at a recent consultation session.
The Toronto Real Estate Board (TREB) is encouraged with the evidence-based approach that all levels of government are taking in assessing the housing market and we look forward to working with City Council as they move forward with consultations on a potential Toronto Vacancy Tax.
Prepping your home for sale can feel completely overwhelming. It's like magnifying the stress of tidying up and making your house "guest ready," tenfold. Because you've got to make it look good, really, really good, for guests you don't even know. They're not your family or your friends. They are prospective buyers, and they are coming to examine your most intimate quarters and decide if they can see themselves living there, too.
Another good month for the Toronto real estate board, as TREB members sold 5,921 homes in July. The average sales price now stands at $857 823, up 17% over year-end 2016 of $729,827. There are 18,751 active listings on the market and with an anticipated sale of 5,500 homes in August, There are 4 listings, (homes listed for sale) for the average buyer to choose from. These are averages, with some areas having only two listings available per sale, others having 6 homes for sale.
For many of us, summer holds a lifelong appeal. Maybe it is the memories of the end of school or maybe it's the warm weather – whatever the reason, summer tends to bring up positive feelings. However, not everything is better in summer. If you are going to sell your home in summer, you should know that this time of year can sometimes be surprisingly challenging for home sellers.
The Toronto real estate market is just CRAZY! Huge demand for real estate ownership has made April 2015, with 11,303 homes sold, the highest sales record for April sales, (up 17% over April 2014), in the history of the Toronto Real Estate Board.
And the hot Toronto real estate market continues! The Toronto Real Estate Board reported the sale of 6,338 homes in February, a substantial 11.3 % year-over-year increase compared to February 2014.