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Staging your home for a faster sale

RE/MAX Team Paliwal suggests it is important to take advantage of every trick to get your home sold as fast as possible and for top dollar...Read more

Effective January 1, 2017 First Time Home Buyers in Ontario, Canada to get a rebate of up to $4000.00

The Province of Ontario in Canada has proposed to double the maximum refund ...Read more

Why Buy A Condo: Advice For Homebuyers

Buying your first home is a big milestone and something nearly everyone dreams about...Read more

GTA Condo Sales overtake Supply in 2016

Condominiums are becoming an increasingly important part of the GTA’s housing market.... Read more

Condo Market Tightened in Q4 2015

Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area... Read more

5 Reasons Toronto house prices won't crash in 2016

The naysayers insist the bubble has to burst sometime, but no signs indicate it'll happen this year... Read more

TREB & BILD Stress That Demand for Home Ownership Remains Strong

Supply dynamics are impacting GTA home prices and shaping market... Read more

GTA house prices up 10% in April, 2015 – Toronto Real Estate Board Reports.

The average selling price, which combines all housing sectors including condos, hit $635,932. Read more...

5 things to remember when hiring a contractor for home renovation

Here are 5 things to remember before you hire anyone to renovate your home in... Read more

6 tips to become a successful residential landlord

Being a successful residential landlord in Ontario is not easy. Here are 6 important tips to remember... Read more

Protect yourself against condo insurance deductible

There is a lot of confusion out there by buyers and real estate salespeople as to what insurance is required when buying a condominium. The mistake is thinking that the insurance policy for the building will always cover your situation... Read more

Do the math: Canadian real estate market will not crash

The doom and gloom stories have started again about the Canadian real estate market...Read more

Do I need a Building or city permit, approval before building a backyard deck ?

7 questions to ask when building a backyard deck. Now that summer has finally arrived, many home owners may think about building a backyard deck by themselves... Read more

How to check, verify and, investigate to find a good Tenant for your Rental Property in Greater Toronto.

Most residential tenants are long term tenants who pay their rent on time and properly look after a landlord's property. The trick is to do the proper research in advance so that you do not end up with the tenant from hell... Read more

10 tips for first time real estate investors

First time investors in real estate are often very confused with the process. Here are some helpful tips to guide your buying decision... Read more

6 Things to know about real estate deposits

In Ontario, the standard real estate contract gives the buyer two choices; you can pay the deposit immediately when you present your offer to the seller, or you can agree to pay it within twenty four hours after the seller accepts it... Read more

Canada home price rose 10.1% year-over-year in February 2014 from January 2014

Canadian existing-home sales rose 0.3% in February from January as real-estate activity rebounded in some Canadian cities that were hit by harsh winter weather, the country's real-estate trade group said in its monthly report Monday...
Read more

Mortgages to track lower bond yields.

Falling bonds yields could push mortgage rates lower in coming weeks as banks compete in the spring housing market, traditionally the strongest real estate period of the year... Read more

Toronto condo market showing great signs of comeback and higher sales in September 2013.

Toronto’s real estate market continues to confuse the people trying to predict what it will do next. The rebound in sales in the first half of September was even more eye-popping than the jump in August... Read more

What is a Credit Score & Is it true that my Credit Score goes down every time it’s checked for home buying?

There are many misunderstandings about credit scores out there. Some people believe that they don’t have a credit score and many people think their credit scores don’t really matter. These sorts of misunderstandings can hurt your chances at getting some jobs, at good interest rates, and even your chances of getting an apartment or a house... Read more

BUYING vs. RENTING in Greater Toronto : The Truth, which is usually not told !

Now let’s take an example of a property on Bay Street in Toronto: a junior one- bedroom with locker and no parking on is sold for $270,000 in July of 2012; or it can be rented for $1600... Read more

Why GTA (Toronto and Area) housing market will stay strong in 2013.

Many economists predicted a local real estate crash this year, with prices falling by up to 25 per cent. I didn’t see that prediction coming true and it didn’t. Nor will do I believe it will happen in 2013... Read more

Why selling or buying a house privately or as ‘For Sale By Owner’ is a bad idea.

Not all of you might like real estate agents. It’s easy for professions to get tarred with a wide brush of false perceptions. So you might be tempted to buy directly from other Canadians or Sale as private as For Sale By Owner (FSBO)... Don’t. Read more

7 Reasons to buy an Investment property in Great Toronto Area now

If talk about a housing correction or slowdown in Greater Toronto Area Real Estate are keeping you out of the property investment game in Toronto, Canada here are seven top reasons to overcome those fears. As real estate veterans points out , your time to buy an income-producing property may be now.... Read more

As the Prices of wheat, corn and barley keep increasing- Buy/Invest in Agricultural or Farm Land in Canada.

Just gimme that countryside! It's one place where “flipping” still works – in fact, where it increasingly works, according to a new report, charting bidding wars for Canadian farmland.…... Read more

Is HST applicable or payable by the assignor or seller who is assigning a contract to buy a newly constructed residential unit or a condominium unit in Ontario?

This is also known as assignment sale.
Inevitably, an offer to purchase an assignment property by a buyer's sales representative will state that, if applicable, HST is included in the purchase price (as we typically see in any offer to buy resale residential properties)... Read more

St. Lawrence Market Toronto has been named the world’s best food market by National Geographic.

The famous Toronto market beat out well-known food markets like the Union Square Greenmarket in New York and Cours Saleya in Nice. Take that world! St. Lawrence is numero uno…... Read more

Land Transfer Tax Refund for First-Time Homebuyers in Ontario

First-time homebuyers may be eligible for a refund of all or part of the tax... Read more

Why should you buy Title Insurance, when buying a house in Ontario, Canada

Title insurance is growing in popularity in Canada. But what is it exactly? Should you get it? Do you need it?... Read more

Forget the Stock Markets – Real Value is Canadian Housing

Billions spent in new construction, renovation, and infill over the past decade have contributed to a serious upswing in the calibre of Canada’s housing stock, propping up residential average price in the country’s major centres, according to a report released today by RE/MAX.

Since 2000, the value of a Canadian home has doubled, rising from $163,951 to $339,030 in 2010. Nowhere has the upswing been better captured than in both the value of residential building permits issued nationally between 2000 and 2010—at $340 billion—and the estimated $450 billion spent in renovation. The impact of these two forces alone has fuelled the Canadian residential real estate market – as well as the construction industry—for more than 10 years.


As a result, investment in Canada’s housing stock is at an all-time high in the 16 Canadian residential real estate markets examined in the RE/MAX Housing Evolution Report. Higher quality housing translated into extraordinary price appreciation across the country—with 62 per cent (10 markets) experiencing increases in excess of 100 per cent since 2000.

“While a number of external variables were also behind the exceptional gains, revitalization—amid an aging housing stock—and newer construction are largely underestimated factors supporting Canadian housing values,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “The trend is expected to continue for years to come as investment in residential real estate through renovation, infill, and redevelopment ramps up across the country. City planners, builders, developers, and homeowners have only just begun.”

The report found that the unprecedented sum funneled into housing has effectively changed the landscape of Canada’s major centres. New home construction has advanced suburban sprawl, giving rise to new sought-after pockets in virtually every centre across the board.

Infill continues to redefine neighbourhoods, particularly in areas where the value of existing structures have not kept pace with escalating land values. The trend was evident in all centres, but had the greatest impact in large metropolitan cities such as Toronto and Vancouver. Bungalows on large lots are prime targets, making way for custom builds that transform working-class subdivisions of yesteryear into up-and-coming upper-end pockets. Infill is also maximizing land potential, often replacing one, two or several tired structures with a block of townhomes or mixed-use residential, even high-rise apartments.

“Renovation has also had a tremendous impact on housing throughout the decade, so much so that it’s emerged as, arguably, Canada’s next national past time,” says Polzler. “Residential renovation spending has been gaining momentum year-over-year since the early part of the decade and now exceeds $60 billion annually.”

The trend has not been limited to single-family homes—although that activity has been nothing short of remarkable. Canada’s cities have also mounted ambitious renewal of their own, particularly in the heart of most major centres—the urban core. Strategic smart growth plans are altering cityscapes, challenging our concepts and perceptions—including our purchasing patterns—and creating partnerships that are working to escalate our markets to world-class status. Non-residential construction, including infrastructure spending has had a positive secondary impact, in turn boosting spending on the residential side.

“The past decade has also marked the rise of the condominium—moreover, its undeniable acceptance as an attractive option as opposed to a secondary compromise,” says Polzler. “Toronto, for example, has become the largest condominium market in North America. Yet, it isn’t just gaining traction in large centres like Toronto, Ottawa and Vancouver, but also in smaller cities such as Kelowna, London and Halifax—to name a few. Running the gamut from entry-level units to upscale, luxury suites, condominiums have gained widespread appeal with aging boomers, looking for lifestyle and low maintenance; young professionals, attracted to trendy locales; and first-time buyers, looking to get their foot in the door to homeownership.”

Condominiums have changed the urban landscape, driving residential neighbourhoods up, instead of out, and bringing to market a bevy of new options from mixed-use residential, live-work studios, lofts, townhomes, and condo bungalows. Townhomes, in particular, have experienced a serious rise in popularity, bridging the gap for empty-nesters and retirees not yet ready for apartment-style living.

With construction of rental product few and far between in many Canadian centres, it’s no surprise that investors have also been particularly active in the condominium market, especially in college/university towns or where vacancy rates remain tight.

Redevelopment holds the greatest potential for cities on the cusp of exciting rejuvenation. While former brownfields can present challenges, many have opened up and revitalized entire areas. The Barrel Yards Development in Kitchener-Waterloo, for example, is expected to change stagnant industrial land into a bustling residential, commercial and retail hub. Past successful transformations include Garrison Woods in Calgary, the Hamilton Beaches in Hamilton and Bishop’s Landing in Halifax, with countless projects planned nationwide in the years to come. Conversions also continue to breathe new life into existing structures with good bones, while supporting the move to higher-density and the introduction of affordable options.

“Greater sustainability overall, keeping the urban lifestyle attainable, livable and attractive at all price points, depends on redevelopment,” explains Polzler.

Lastly, population growth has been a key factor making housing evolution possible. Since 2000, Canada’s population has experienced double-digit growth of 11 per cent. By 2031, over 42 million people are expected to call Canada home.

“There’s no question that population growth will continue to support investment, propping revitalization and new construction in the years ahead, and by extension raising the bar and prices in real estate markets even further,” says Polzler.

RE/MAX is Canada’s leading real estate organization with over 18,500 sales associates situated throughout its more than 700 independently-owned and operated offices in Canada. The RE/MAX network, now in its 38th year, is a global real estate system operating in 80 countries, with over 6,200 independently-owned offices and over 89,000 member sales associates. RE/MAX realtors lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management. For more information, visit: www.remax.ca.

 



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