‘Tis the season for forecasts as Wiarton Willy and Punxsatawney Phil have already predicted an early spring. For the past 5 years, the Toronto Real Estate Board (TREB) provides their market outlook at the February economic summit!
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Tag: torontorealestateboard
Will You Be Paying Too Much In Property Taxes?
Every 4 years, the Municipal Property Assessment Corporation (MPAC) re-assesses all properties. Like the US presidential election cycle, MPAC will be re-assessing 2020. If MPAC over estimates the value of your property, you will be overpaying property taxes for the next 8 years. Property taxes are derived by multiplying the property tax rate by the…
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Lanes Aren’t Just For Cars
With snow already on the ground and subzero temperatures, it’s undeniable that the autumn has already switched to winter. One of the biggest real estate shifts this year was the introduction of laneway houses in Toronto which has an apt program name: Changing Lanes. Given the high cost of housing and low vacancy rates, collecting…
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From First To Worst
Happy Thanksgiving! Fall 2019 has been active as September year over year results saw an increase in sales volumes and prices across all types of housing in Toronto compared to last year. Given the tight housing supply, the days on market (DOM) decreased and multiple offers aka bidding wars are common. As with every war, there…
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Your Car Also Needs A Home
As summer comes to a close, September welcomes in the new school year which also means more traffic. Seems like us Torontonians are constantly battling traffic only to wrangle for parking once we reach our destinations. When purchasing a home, whether to include parking in the search is a trade off my clients often face. …
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How Expensive Is Expensive?
Everyone seems to agree that the Toronto housing market is expensive and getting more so each year. This month I will delve into recent history to find out if prices for different types of homes are at all time highs. Toronto’s June real estate market continues a 3-month trend where the number of solds increased…
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Finding the Condo Unicorn… Does It Exist?
This month, I will finish the maintenance fee analysis we started in April by taking a closer look at a condo’s reserve fund. The hope is that we can uncover the condo unicorn which features low monthly maintenance fees per square foot; low operating costs per unit; a history of low operating cost increases and…
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Maintenance Fees: The Breakdown
Last month, I reviewed 30 Toronto condos to adjust the maintenance fee per square foot/month in order to make an apples-to-apples comparison. The average came to be $0.64 per sf/mth. This month, we’ll take a closer look of the operating costs and complete the maintenance fee trilogy next month with a closer look at the reserve…
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One Size Fits None
Condos sales now make up more than half of Toronto’s resale transactions. I believe that there would be even more condos sold if not for monthly maintenance fees which are a detraction for owners of freehold properties who would otherwise happily downsize. One metric buyers use when comparing condos is the monthly maintenance fee per square…
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4 Perspectives on Buyer Behaviour
“Thank you March weather. I can’t wait to wake up every day and play the age-old game: pleasant Spring Day or full blown Arctic apocalypse.” Jimmy Fallon, The Tonight Show As I write this, the mercury measures 2C and I’m looking forward to Spring in just 9 days. Since January, two comprehensive reports were issued…
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