A verbal contract of any kind is theoretically binding in Canada, but can be extremely difficult to prove as a) existing and b) containing all the terms and conditions set out in the verbal agreement. However home purchases, or the transfer of any interest in a property may be required to be in writing depending [...]
A real estate broker can provide a letter of opinion of value or LOV, which is similar to an appraisal. The real estate broker uses their knowledge of the neighborhood, the property itself, market trends and other relevant factors to provide a professional opinion as to the property’s value. This can be used to present [...]
There were two articles in the Globe and Mail newspaper recently discussing the Baby Boom Generation. One was an article by Rob Carrick. Rob discusses the size of the Baby Boom Generation (born in the years 1946 and 1965), plus their affect on the housing market. The other article was written by Chris Atchison. Chris [...]
In: International Real Estate News|Mortgage News|Real Estate News|Toronto Real Estate
7 Oct 2011So the stock market has dropped by 10% this year. The interest rate on a GIC is 1-2%. But housing prices increased by 10% in September. The Toronto real estate board just reported that the amount of sold homes increased by 25% in September and the average price increased by 10%. Wow! This is great [...]
Has anyone heard of the consumer confidence surveys that are announced on new radio stations and written about in the business section of the newspaper? I used to think “who cares”. Is it a big deal if some consumer confidence survey says that people are more or less confident than they were 3 months ago? [...]
The toronto real estate market has always been strong but now, with the addition of two projects currently under construction, those being the tower condominiums called Studio and Studio 2, the activity in the high-rise condos toronto area has become decidedly more lively and the sales are strong! Studio and Studio 2 are towering examples [...]
One of the most sophisticated, diverse, eclectic, and vibrant cities in the world, Toronto is emerging as a leading center of commerce and finance, yet it remains one of the world’s most livable cities. Long before environmental concerns became Topic A in civic discourse, visionary Toronto city planners had launched urban redevelopment initiatives guided by [...]
You’ve heard it before. It’s all about the location. While that is true there are many other factors to consider when looking to buy a Toronto condo. Lifestyle is certainly an important consideration. If you want to be near the “bright lights” of the big city you may decide to shop around in the downtown [...]
In: Real Estate News
22 Aug 2011Brampton and Mississauga are located in Peel Region. Combined, they would be the 3rd largest city in Canada, behind Toronto and Vancouver. Both Mississauga and Brampton are unique in Canada and perhaps unique in North America. Mississauga, once a commuter city adjacent to Toronto, is now a large city unto itself. Mississauga now has a [...]
In: Real Estate News
18 Aug 201130 years ago North York Ontario was for the middle class Torontonians who wanted a small bungalow or split level detached home. Most of the homes in North York were originally built in the 50s as mass produces new homes for the parent of baby boomers. Parents with 3-5 children needed an affordable place to [...]
In: Real Estate News
16 Aug 2011Richmond Hill Ontario is a great community North of Toronto. Located North of highway 407, Richmond Hill is a very active real estate market for selling privately and selling with a real estate agent. Richmond Hill’s borders are Highway 7 to the South, Bathurst to the West, Highway 404 to the East and Bloomington Road [...]
In: Real Estate News
12 Aug 2011The Toronto Real Estate Board released their real estate statistics for July 2011. There were 7,922 homes sold in July. This was 23% more than July 2010. This shows that the real estate market in Toronto is continuing to be very healthy. Although, despite the large increase in July, since the beginning of 2011, total [...]
One of the most common Real Estate questions we receive at PropertySold.ca is “How can I sell my home myself and advertise on MLS.ca/Realtor.ca?”. This is a popular real estate question because home sellers want to be able to advertise their property on MLS.ca/Realtor.ca, but also save money. Many people these days want to do [...]
In: Real Estate News
22 Jul 2011A recent report in the Globe and Mail, by Real Estate Reporter, Steve Ladurantaye, claims that the Canadian Real Estate Association is preparing to allow access to their database containing sold prices and days on the market information. Does this means that Canadian will soon see “Zillow” type websites? Zillow is an American real estate [...]
The Bank of Canada decided not to raise interest rates on Tuesday. They kept their overnight rate at 1%. On Wednesday the BoC spoke more about the state of the Canadian economy. The newspapers and economist dissected the works of Mark Carney and determined that he removed the word “eventually” from his comments about when [...]
In: Real Estate News
19 Jul 2011There is a lot of discussion these days about home affordability, record high prices, asian buyers, sellers market, and multiple offers. Real estate, especially in Toronto, has always made headlines in the newspapers and on TV. But now as the average price for a detached home in Vancouver has eclipsed $1,000,000, and in Toronto $700,000, [...]
In: Real Estate News
12 Jul 2011The big day! If anyone has bought and sold a home on the same day, you probably do not remember specifically what happened, but you probably remember that it was stressful and a hassle. It involves real estate lawyers, banks releasing funds, registering mortgages, arranging insurance, picking up keys…and that’s just for the home. You [...]
It has been a little more than 3 months since PropertySold.ca launched our new website, including Real Estate Agent listings and a MLS Flat Fee Package. We are glad to report that June listings will hit a new record! In addition to the real estate agent listings and For Sale By Owner listings, approximately 100 [...]
Everyone wants to know “how much is my home worth?”. Everyone also thinks that they know “how much their home is worth”. But when it comes to selling a home, it is better to look from the buyer’s point of view and ask the question “how much would I pay to buy that home?”. Home [...]
Every year for the past 16 years, the average price for a home for sale in Toronto has increased. According to the Toronto Real Estate Board’s month report, the real estate market in Toronto has gone from an average price os $198,150 in 1996 to an average price of $431,463 in 2010, and an average [...]
Why Home Sellers Want To Save Money: Real Estate home sellers have usually invested a lot of time and money into their home. After most people purchase a home, they want to complete renovations in order to upgrade their home. This is especially true in urban centres like Toronto, Etobicoke, North York, and Scarborough, where [...]
In: Real Estate News
10 May 2011When the competition bureau helped change the MLS rules back in 2010, they helped create a new opportunity for home sellers to sell privately and be advertised on MLS. PropertySold.ca created a MLS partnership with Real Estate Brokerages across Canada that allowed For Sale By Owner home sellers to advertise their property on Local Board [...]
Real estate news in Canada including buy and sell information, local market updates, guides, tips for Canadians in the real estate market.