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James Metcalfe`s Toronto Real Estate Market Update August 2013

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Total unit volume through the Toronto MLS® system in July was 8,544 – which represented a whopping 16% increase versus July 2012.This was the best July sales result since 2009 and was the third best July result on record. The strong sales performance can be attributed to the re-emergence of first-time buyers into the market. The average price of a GTA resale home in July was $513,246 – a healthy 8% increase versus the July 2012 average price of $475,523.

“Legally Speaking“ Reviews the SPIS (Seller Property Information Statements) as it pertains to risks.

“Personal Finances“  Reviews Mortgage Interest Tax Deductibility.

My take for August is we are in a Balanced … yet leaning to a Sellers Market in Toronto Centre.

…and a teaser from the ever popular “Pearls of Wisdom“ …  “Golf is a game in which you yell ‘fore’, shoot six, and write down five.”

James Metcalfe’s June Real Estate Update

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June has come and gone but the month’s real estate update proves that May was a great month for the resale value of  homes in the GTA. In May we saw a 5% increase in the price of a resale home versus May 2012. In fact, price growth occurred in all major market segments! And all this growth seems on track to meet the Toronto Real Estate Boards price growth forecast of 3.5% as a whole.

In this month’s update we feature 10 home improvement projects that add value to your home including:

  • Painting
  • Kitchen remodeling
  • Finishing unfinished space
  • Home office remodeling

Also, in our “Legally Speaking” segment we discuss the finer points of walking away from a house deal. This can be complicated so make sure to read carefully. We cover important points such as a buyer’s remorse period and who gets the deposit when buyers change their mind.

Featured this month are some of the highlights from the CAAMP (Canadian Association of Accredited Mortgage Professionals) survey as well as the ever popular “Pearls of Wisdom”

 

James Metcalfe’s April Real Estate Update

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Spring has finally arrived (sort of) and with it some growth in the average price of a resale home in the GTA. In March, we saw the price of homes increase by 4% versus March 2012 which means the average price of a home increased from $500, 875 to $519, 879. We also saw price growth across all market segments including single- detached homes, semi-detached homes, townhomes and condo apartments. Although we saw price growth there was a 17% decrease in sales versus March 2o12.

This month in our update we look at a case of a couple with two dogs and the importance of examining the building’s certificate of status prior to placing an offer on a unit. Make sure to ask your real estate agent about the certificate of status prior to placing a bid on a resale condo. They should know of any restrictions when it comes to pets and so should you!

We also take a look at some of your electrical questions including examining the electrical capacity of your home and what to do if some of your electrical out lets are not grounded. What are the risks and consequences?

Lastly, and as always we have the popular Pearls of Wisdom. Here is a preview: “Here’s something to think about: how come you never see a headline like ‘Psychic Wins Lottery'” – Jay Leno.

James Metcalfe’s Real Estate Update April 2012 … in Our Home Toronto

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Here is our April Real Estate Update for Our Home Toronto: You’ll note average March prices are up 10% vs 2011 & volumes are up 8% vs 2011, an interesting article on Property Tax and Estate Planning, Getting your home ready For Sale … De-cluttering made easy, and the ever popular Pearls of Wisdom … Enjoy and do let us know if you would like to receive this update by email.

For loads of Listings and free information on buying or selling  Visit OurHomeToronto

James Metcalfe Real Estate Newsletter April 2012

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James Metcalfe’s Real Estate Update March 2012 … in #OurHomeToronto

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Here is our March Real Estate Update for Our Home Toronto: You will note Average February prices broke $500K, an interesting article Condo Tenant obligations, Electric Hydro Meters and Smart Meters, and the ever popular Pearls of Wisdom … Enjoy and do let us know if you would like to receive this update by email.

For loads of Listings and free information on buying or selling  Visit OurHomeToronto

James Metcalfe’s Real Estate Market Update March 2012

View more documents from James Metcalfe.