Decrypted: Misleading Real Estate Stats for May 2017

Sales are down. Inventory is up. Is the Toronto market finally correcting itself? More importantly, what does it mean for buyers and sellers? First, let’s take a look at the raw numbers. Total Sales in May: Average Sale Prices: What the numbers tell us: Total Sales are down –20.3% compared to May 2016 Average sale price is up […]

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New Mortgage Rules

Still Confused? New Mortgage Rules Explained

There were some important rule changes put in place for mortgage lenders on October 17, 2016. For many buyers, the end result of the new mortgage rules will be less buying power. For sellers, it could mean lower selling prices. Depending on what you read and who you talk to, there might be some confusion on what exactly […]

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How Land Transfer Tax Works in Toronto & Ontario

When you buy a home in Ontario (especially Toronto), you’re going to need to be ready to pay the lovely Land Transfer Tax.   Who Pays Land Transfer Tax? When you buy a house or condo in Ontario, the buyer always pays the land transfer tax – Sellers never pay.  On closing day, when the deed […]

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The Dangers of Buying through the Listing Agent

As buyers become more savvy, we’re seeing a new trend emerge:  Buyers who want to work directly with the listing agent.  The two most common reason that we’re hearing from buyers is that they believe they will:   (1) Get insider information from the listing agent. A misconception that they will tell them how much they need to pay […]

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Real Estate Industry Players Defined

Real Estate Industry Players In Ontario Explained

When I first took the required course material to become a Realtor, I found it difficult to articulate who the real estate industry players were and what exactly each group was responsible for.  Understanding the relationship between Brokerages, Realtors and the different boards is an important part of being a Realtor, yet many will struggle […]

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