September 2007 Market Watch

September put in another excellent performance, with 6,866 single family units changing hands through the TorontoMLS system, Toronto Real Estate Board (TREB) President Maureen O’Neill announced today. “This figure was up four per cent from last year (6,622 sales), and off only six per cent from the record 7,326 sales recorded during September of 2005.” Year-to-date sales, at 73,827, were…

Boom or Bubble?

With the insane record-setting activity in the real estate market over the summer, there is a lot of buzz about whether the market bubble is going to burst or if this is an ongoing boom. If you’ve been a part of any a conversation on this topic, discussion has probably come up about the U.S. market. Creditors are losing their…

August 2007 Market Watch

I’m getting tired! August became the fifth record-breaking month in a row with 8,059 sales. It was 15% more active than last year and 7% higher than the all time record. The average price is up 7% over August 2006 at $361,890. TREB President Donald Bentley stated, “While the last decade has seen five record breaking years, and a good…

Playing the Game

In today’s heated market, there are still a lot of sought-after neighbourhoods where homes command multiple offers and the sold price well exceeds the asking price. One lucky home buyer is successful but many others are left in the wake still without a home, scratching their heads wondering, “What happened”? We’ll walk you through the strategy of multiple offers, the…

July 2007 Market Watch

July is the fourth month in a row that sales have broken monthly records! “We are running 14 percent ahead of the seven month total for 2005 which became our best year ever.” says TREB President Donald Bentley. “The local resale market is as healthy as it has ever been.” Average prices declined two percent to $366,012 but the decline…

Too Many Hands In Your Pocket!

It seems lately that all sorts of people are trying to put their hands in your pocket….the goverment, the bank, the government again. There’s been a great deal of contreversy about the proposed 100% increase to land transfer taxes, possible increases to property taxes and additional fees for everything else that you do in life. On top of that, the…

June 2007 Market Watch

A few of the home buyers are finally taking a bit of a vacation from shopping. But even though the number of home sales slowed down by 6% compared to record-breaking May, June’s sales were still up almost 20% over the same month last year. The average price of a home went down slightly by less than one percent to…

How to Survive Real Estate

While buying or selling a home may be one of the most exciting things you can do, it is also one of the most stressful. Anyone who says otherwise either doesn’t know, or is lying! Having just recently bought a new house and having sold my own home, I can tell you first hand from my experience…increasingly gray hair, a…

May 2007 Market Watch

Busy, busy , busy….May blows away the record books! We all thought April was something to talk about, having set the record for the most sales in the Toronto Real Estate Board’s history. But May kicked April out by a whopping 18% increase for a total of 11,146 sales, now the best month ever in history. So what does this…

The Truth About Real Estate

This blog is inspired by a great article published by the Toronto Star late last year… We’ve all heard them at various cocktail parties or the minute you tell someone you’re thinking of buying…”Buy the worst house on the best block!” Here’s a look at which real estate truisms are worth paying attention to and which are as fluffy as…