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GTA's new home sales defy Mother Nature
Toronto Star
What are the main ingredients for a good real estate market? Simple: you need the right product, in the right location, at the right price. Just-released figures from RealNet for the first quarter of 2014 show that the GTA continues to be a very good housing market. In the first three months of 2014, while we experienced one of the harshest winters in memory, unfazed house-hunters went forth and purchased 8,928 new homes from GTA builders, representing an estimated total value of $4.8 billion.
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Mississauga mansion goes on auction block — again
Toronto Star
It's 18,000 square feet of French-inspired grandeur that just can't seem to sell. A Mississauga mansion at 2290 Saxony Ct. that supposedly sold last January for $6.2 million is back on the auction block. And this time it's sharing the stage with an upscale neighbour, a resort-like, 9,000 square-foot home on prime Doulton Dr. whose owner is looking for some quick action after eight months on the Multiple Listings Service without a bite.
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A real estate agent is not what you think
Toronto Star
What's the difference between an agent, salesperson and broker? Let's start with the most commonly misused term, "agent." While most people use this term to describe the individual real estate professional assisting them, it's not technically correct. Legally, "agent" is actually the term given to the brokerage (the company) that represents you as the buyer or seller.
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How badly would you be hurt in a housing market price correction?
The Globe and Mail
Houses are a financial asset that can rise and fall in price, just like stocks, bonds and gold. It's important to remind ourselves of this after a 25 per cent price gain between 2008 and 2013 on a national basis and a doubling of prices in Vancouver, Calgary and Toronto over the past 10 to 12 or so years. In fact, there are already signs of market softness in some parts of the country.
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Canadian housing market 'extremely discouraging' for first-time buyers
CBC News
Many experts believed that the real estate market was cooling. But as the spring buying season begins, it's clear that's not true. According to the Canadian Real Estate Association, the national average price for a home in March was $401,419, an increase of six per cent in year-over-year comparisons.
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Real estate bidding wars heating up in Toronto
CBC News
Toronto's real estate bidding wars are reaching a fever pitch. Some of Canada's largest banks are offering low mortgage lending rates, and many people looking to move from condos and rentals into family homes in the city are capitalizing on fixed agreements. "It's a sellers market out there ... and right now is the busy season. There are a lot of Toronto buyers out there looking for their first home, looking to take advantage of the rates," says James Laird, chief operating officer of True North Mortgage.
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Average price for a single-family home in Toronto passes $1 million
Huffington Post
Economists are coming out with warnings that Canada's real estate juggernaut is about to come to an end and others keep fretting about Canada's record-high household debt levels, but Toronto residents don't seem to be listening. Home sales in the country's largest metro area roared back to life in the first quarter of 2014, according to data from Realnet Canada, with total sales jumping 60 per cent from the same period a year earlier.
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The new way Toronto condo developers are saving space
The Globe and Mail
RealNet Canada released its latest stats for new condos in Toronto, and the numbers showed that the average size of a unit has shrunk to about 797 square feet, from closer to 900 square feet five years ago. "The size, if it gets much smaller, I can't imagine how," Bryan Tuckey, chief executive officer of the Building Industry and Land Development Association (BILD) told reporters on a conference call.
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Real Estate Update
Frank Humada, Director of Publishing, 289.695.5422
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March 26, 2014

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