Thursday, October 30, 2014

Fall Economic Outlook from CMHC

CMHC just published their economic outlook for the Toronto Real Estate market and the detail is worth reading.

Highlights include; 
12% reduction in the detached homes for sale in Toronto [continued multiple offers]    
Higher numbers of families  moving from Condominium units to the 905's
Flat interest Rates until the later part of 2015
Unemployment Rates continue to decrease to 8%
Vacancy Rates continue low at  1.8% 

 This means that nothing much is going to change. Source article

Sorry to all the doom Predictors about the Sky Caving in ....
The Toronto Condo market is strong. Inventory is modestly higher, yet new arrivals to the City need a place to live and get settled.

Are you looking at housing that suits you better?

Call me direct at 647 218 2414  or email 

Monday, October 27, 2014

Developers PASS along charges from City

You hurried. You trusted the Builders agent. You signed a Standard Agreement ...   Right?

Often in those agreements are legal speak that says you are responsible for all the development charges.  YOUR LAWYER contacts the builders lawyer an CAPPS the closing fees and all development charges in a clause that says they may not exceed XXX dollars. 

“It’s not a question of fairness, it’s more a question of did they review the offer (and) did they get a lawyer to review the offer, were they aware what was in the offer or did they just blindly sign and hope for the best?”
Aaron said that if this was the case, the buyers would have next to no way to avoid paying the fees.

We keep repeating the lessons learned from this.  Its work that a seasoned Real Estate agent finds instantly, that a lawyer will find when they read the contract details.  The lesson us to call a seasoned and experienced REALTOR.