First Bank of Canada increase in Seven Years!

By: BRIAN C. MAYER

First Bank of Canada increase in Seven Years!

Tags: Mortgage Rates, Bank of Canada

The Bank of Canada announced today that it is increasing the overnight rate .25 per cent given bolstered confidence in the Bank’s outlook for economic growth. This increase was widely expected by most economists. The Bank noted that very strong first quarter growth will moderate for the rest of the year but will “remain above potential.” Given the improved outlook, the Bank deem...Read More

OUR REAL ESTATE MARKET: Expectations need to be managed.

By: BRIAN C. MAYER

OUR REAL ESTATE MARKET: Expectations need to be managed.

Tags: Toronto's Real Estate Market, Principle residence tax exemption, fair housing plan, TREB july stats, policy changes, the toronto real estate climate

Rain, rain and more rain! With record amounts of precipitation last month preceded by a very wet spring, don’t you feel it’s more appropriate to talk about the weather rather than real estate these days? But I’m a Realtor and talking ‘real estate’ is in my blood. Fortunately, the sun has been shining nicely for us the last few days and I’m pleased to announ...Read More

Realtors want those who break the rules tossed out!

By: TIM HUDAK AND ETTORE CARDARELLI & Brian C. Mayer

Realtors want those who break the rules tossed out!

Tags: Ontario Realtors, Ethical Realtors, Breaking Real Estate Rules, Real Estate Council of Ontario

Not very often do I re-post articles from newspapers or from online sources but I found this one particularly a good read. Having been in the industry for just over 19 years, I’ve always believed that a Realtor’s ethical obligations are based on moral integrity, competent service to clients and customers, and dedication to the interest and welfare of the public. Period!  I ...Read More

Another sign Canadian mortgage rates are about to climb

By: Josh Sherman: Buzz Buzz News Canada

Another sign Canadian mortgage rates are about to climb

Tags: Mortgage Rates, Bank Rates, Canadian Mortgage Rates

Yesterday, BMO officially called for a Bank of Canada overnight rate hike based on Canadian economic growth, and today it provided more fodder for the possibility of higher mortgage rates on the horizon. The Big Six bank provided a chart that presents yields on Canadian government five-year bonds and five-year mortgage rates. “Five-year fixed mortgage rates tend to follow market yields, an...Read More

LEAD; DON'T FOLLOW!

By: BRIAN C. MAYER

LEAD; DON'T FOLLOW!

Tags: Herd Mentality, Toronto Real Estate Market, Missing the boat, sellers, buyers, right time to sell

The herd mentality & real estate. Have you ever noticed whenever a shopper heads for the checkout counters it always seems to attract a crowd? I’ve observed this often in grocery stores or department stores and there doesn’t even have to be a big sale going on. The only explanation that I can come up with is that it is somehow rooted in the herd mentality. Watch when the checkout ...Read More

CONCERNED BUYERS: Are they starting to hold back?

By: BRIAN C. MAYER

CONCERNED BUYERS: Are they starting to hold back?

Tags: Sellers Market, anxious buyers, concerned buyers, toronto's housing market, spring market, balanced market

"Quieter” and “slower” are not words you would expect to hear in today’s Toronto housing market. But during our last couple of office meetings, many of our agents reported a slight change in the real estate market with more listings being posted and bidding wars had become less frequent. Part of that, some said, is chalked up to ...Read More

Toronto home prices headed for a tumble? Ratings service considers the possibility.

By: Garry Marr - Financial Post

Toronto home prices headed for a tumble? Ratings service considers the possibility.

Tags: Toronto real estate, foreign buyers tax, U.S. rating agency, toronto real estate board

Massive gains in house prices across the Greater Toronto Area could be coming to an end with a correction even in the cards, says a leading U.S. Ratings agency. Fitch Ratings believes the province’s 16-point plan to create affordability in the Greater Golden Horseshoe — an area home to nine million people and that wraps around the GTA in the southern end of the province — may de...Read More

OVERBUILDING vs SUPPLY CONSTRAINTS

By: BRIAN C. MAYER

OVERBUILDING vs SUPPLY CONSTRAINTS

Tags: Selling Your Home, Selling Your Condo, Toronto real Estate Market, Overbuilding, supply and demand, real estate speculation

I recently read a great article in which one group of data scientists was arguing ‘speculation’ wasn’t the issue in Toronto’s hot housing market, overbuilding was. Hmmm...maybe scientists should stick to science? Maybe bake some cookies while they're at it? Will building more housing bring down prices? Let’s face it, Toronto is a growing city and even ...Read More

LANEWAY HOMES: A solution for addressing housing shortage in Toronto?

By: BRIAN C. MAYER

LANEWAY HOMES: A solution for addressing housing shortage in Toronto?

Tags: Laneway Homes, Laneway House, housing shortage, Toronto Laneway houses

ith consistent increases in the cost of housing in the city of Toronto, are laneway houses the way of the future? I certainly think so! There’s a lot of buzz and new interest right now with laneway housing and this could be a good start with addressing Toronto's real-estate problems. Laneway suites are smaller dwellings built on the rear side of residential lots, detached from any...Read More

HOUSE FLIPPING TAX: Another option to cool the market?

By: BRIAN C. MAYER

HOUSE FLIPPING TAX: Another option to cool the market?

Tags: House Flipping Tax, Foreign Investors, hot market, flip this house, capital gains tax, speculative investing

For years now, the practice of buying a property with the purpose of renovating, updating or sprucing it up and selling at a profit just a few months down the road has without a doubt been profitable for many investors. It has also been celebrated by at least a half dozen popular reality TV shows like Love it or List it or Flip this House. Foreign Buyer Tax or House Flipping Tax?&n...Read More