Toronto’s New Vacant Home Tax
As you may have heard, the City of Toronto is recommending that City Council move forward with the Vacant Home Tax, with a number of important exemptions. The tax is not yet in effect and specific tax details still require approval by City Council. Council is currently focused on approving the design details of […]
Read MoreAttention Florida Property Owners
I’ve been hearing from a lot of my Sotheby’s sources that Florida real estate is mental right now. People are fleeing the big cities and flocking to Florida to look for places to spend the lockdown. There is a dearth of inventory and prices are continuing to go up. I am friends with a Broker […]
Read MoreToronto Flocking to Cottage Country
With boarders still closed and camps cancelled, Torontonians are looking at a return to old school summers. Many are realising they need more green space than the crowded city parks offer. As we head into our fourth month of quarantine, we are all going a little stir crazy. One option that many are turning to […]
Read MoreMortgage Stress Test
Yesterday the Toronto Real Estate Board has asked the government to look at whether the mortgage stress test is still necessary. The stress test was brought out last year to protect buyers from rising interest rates but have impacted the ability for some to qualify for mortgages, especially first time home buyers. Last winter, Toronto […]
Read MoreLooking Forward to the Fall Market
There was a definite lack of inventory this summer as sellers held off, hoping to return to 2017 prices. Trying to time the market is always tricky. “Past experience has shown that markets begin to stabilize after about four to six months following the implementation of major changes to housing policy,” says Derek Burleton, TD’s […]
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