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Ontario housing trends – Expected mixed results for Urban vs Rural buyers

Ontario housing trends - Expected mixed results for Urban vs Rural buyers

The Ontario Real Estate Association (OREA) has partnered with Ipsos Reid to develop the Ontario Home Ownership Index in an attempt to reveal the latest market sentiment on home ownership. Here’s a great infographic of the summarized results with detailed explanation to follow: A quarter of Ontarians (28%) planning to buy a home in the next two years say they plan to purchase a condo/apartment, with the majority (59%) saying they will buy a detached house, according to new research from the Ontario Real Estate Association (OREA). Released today, The Ontario Home Ownership Index, a semi-annual province-wide research study commissioned […]

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Would a Kleinburg community by any other name be as sweet?

Would a Kleinburg community by any other name be as sweet?

…not according some new homeowners. Recently a group of Kleinburg new homebuyers launched a petition over postal codes and designations with Canada Post.  You can read the original Vaughan Citizen story here. The crux of the story revolves around Canada Post’s original decision to assign a Woodbridge postal code (L4H) instead of a Kleinburg postal code (L0J).  The developments in question were Kleinburg Hills, Kleinburg Crown Estates and Impressions in the Village of Kleinburg. Here’s a map of these new home developments in Kleinburg: There were several reasons noted for the “fuming” concerns expressed and included impact on insurance […]

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Active Vaughan listings: A Tale of Two Cities

Active Vaughan listings: A Tale of Two Cities

There is a general sentiment in the Toronto Real Estate Board market that overall inventory of listings are quite low, which continues to stimulate and drive pressure on prices.  There is no shortage of media excerpts painting the entire city with a single brush.  But if you’ve been a reader of this blog, you will know that real estate is not a game of generalities and averages, as convenient a tool as that can be for some.  Real estate is local, it’s hyperlocal…a game of inches at times. Armed with the available data and a dash of natural skepticism, […]

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Rules for Ontario real estate fees have changed

 Rules for Ontario real estate fees have changed

Effective December 13, 2013, the Government of Ontario has changed the rules to give consumers and real estate brokerages more options and flexibility regarding real estate fees for services. What has changed Previously, real estate brokerages could charge consumers a flat fee or a percentage of the sale price, but not a combination of the two. The restriction has been removed, so brokerages now have the option to make fee arrangements that could include a blend of a flat fee and a percentage of the sale price. These changes, brought in by the Stronger Protection for Ontario Consumers Act, […]

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Ice Storms, candles and real estate

Ice Storms, candles and real estate

Happy New Year to all.  I hope you all enjoyed a safe and healthy holiday season. While I’d prefer not to re-hash and re-live the last two weeks of extreme weather that’s surrounded us in the GTA, I did want to share a real estate anecdote for which weather, timing and a dash of experience played a role. I’m a firm proponent of buying residential in the winter months.  Among the reasons are the following: Limited competition among buyers.  I’ve known very prospective home buyers who have looked forward to the stress and frustration associated with multiple offers and […]

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Princess Margaret Grand Prize Virtual Tour

Princess Margaret Grand Prize Virtual Tour

The Virtual Tour for the Grand Prize for the Princess Margaret Home Lottery is now available below. Valued at $3.7M, this custom built, Gluckstein designed and furnished Oakville home is “filled with 7,500 square feet of effortless luxury”: Please buy your tickets and help conquer cancer. Enjoy the tour and good luck! Navigation Views Navigation through the tour is accomplished by placing your mouse pointer over the image, holding your left mouse button, and moving the mouse right and left, or up and down, to change your view. You may rotate the view a full 360 degrees. Click on […]

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Vaughan Real Estate sales cross milestone

Vaughan Real Estate sales cross milestone

Greater Toronto Area REALTORS® reported 7,569 residential transactions through the TorontoMLS system in August 2013. This represented a 21 per cent increase compared to 6,249 sales in August 2012. In Vaughan, we saw a corresponding increase with 334 reported transactions in 2013 compared to 264 in 2012, accounting for a 27 per cent increase. “Sales were up strongly this past August for all major home types compared to last year. Many households have accounted for the added costs brought on by stricter mortgage lending guidelines and have reactivated their search for a home. These households have found that a […]

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Vaughan detached house sales (Q2-2013) – An Aerial Perspective

Vaughan detached house sales (Q2-2013) - An Aerial Perspective

Yesterday, I authored a post entitled Deeper Perspectives on Vaughan Real Estate information, in which I introduced one of our latest additions to the Market Data section of our website. You will now be able to have an instant snapshot of various Vaughan real estate indicators at a more granular level, by neighbourhood community and housing type. It’s another example of our efforts to provide more meaningful data for Vaughan home buyers and sellers in making informed  real estate investment decisions. In today’s post, I’m continuing with this theme. From my experience, one of the most often requested enquiries […]

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A deeper perspective on Vaughan Real Estate information

A deeper perspective on Vaughan Real Estate information

One of the most often asked questions a Realtor is likely to get is “How’s the market?”  From clients to prospects, friends to family, it’s certainly one that I get. On the surface, it’s a fair, simple question.  Unfortunately, it’s also one with an answer that’s much more complex. Frankly, I shudder whenever I overhear the shoot-from-the-hip responses you often hear at the cocktail party.  You know the ones… Q: “How’s the market?” A: “Marvelous. Fan-tastic”. “Definitely a great time to Buy.” Q: “But I’m looking to Sell?” A: “Even Better! Call me” (followed by a sequence of goose […]

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GTA Real Estate Market Watch – July 2013

GTA Real Estate Market Watch – July 2013

Greater Toronto Area REALTORS® reported 8,544 residential sales through the TorontoMLS system in July 2013. Total sales were up by 16 per cent compared to July 2012. Over the same period, new listings added to TorontoMLS and active listings at the end of the month were up, but by a substantially smaller rate of increase compared to sales. “Last month’s sales represented the best July result since 2009 and was the third best July result on record. Despite recent increases in average borrowing costs, home buyers are still finding affordable home ownership options in the GTA,” said Toronto Real […]

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