CRA Investigating “Shadow Flipping” of Toronto Cond …

November 6th, 2017

Due to the booming real estate market in Canada over the past year, the Canada Revenue Agency (“CRA”) is scrutinizing the practice of “shadow flipping” or “assignment sales”.  This is a sales technique which involves the purchase of pre-built condos from a developer and subsequent sale to other buyers at higher prices before possession of […]

New Mortgage Rules

November 6th, 2017

The Office of the Superintendent of Financial Institutions (OSFI), Canada’s top banking regulator, introduced new rules on mortgage lending this month, which will take effect January 1, 2018. The rules include a minimum qualifying rate, or what is called a “stress test” for uninsured mortgages. The test is a way to ensure that the loans […]

Toronto to review air-conditioning rules after Septembe …

October 6th, 2017

According to the Toronto Star, the City of Toronto will move to review the rules that require landlords to keep a minimum temperature in city apartments. The move comes after a scorching September heat wave that saw uncommonly high temperatures in the high 20s and low 30s. City staff now have until the spring to […]

Toronto Home Sales Continue to Tank This Fall

October 4th, 2017

Data shows that September continued to be a month of decline for the Toronto real estate market, with sales falling between 38 and 45 per cent compared to a year earlier. This marks the fifth month in a row of declining sales, which not too long ago had high home values and crazy sales numbers. […]

Top Intersections for Condos in Toronto

September 21st, 2017

Condos have been taking over the Toronto skyline, with more to come not only in the downtown core, but in popular hubs around the entire city. New builds provide a ton of options for prospective buyers because they seem to be popping up all over the city, but it seems that re-sale condos surrounding many […]

Toronto Housing Market Update: August

September 6th, 2017

Home sales slowed down through August so much that there was a 34.8 per cent drop in sales compared to last year. This marks the fourth month in a row where sales and home prices have dropped. July’s average price was sitting at $746,033 while August had an average price of $732,292. Since the introduction […]

Mid-rise Housing, The Next Best Thing for Toronto Real …

August 31st, 2017

With detached homes in Toronto reaching unattainable prices and an abundance of high rise condos taking over the city skyline, most of which are either purchased and sitting empty, or demanding rent that is extremely high, could midrise development within some of Toronto’s neighbourhoods be the answer to the home ownership struggle many Torontonians are […]

Barrie’s Real Estate Market Struggle

August 28th, 2017

Many home-buyers got caught in the spring real estate downturn. As a result, many homes have had delayed closings and people have even backed out of real estate deals, not caring that they will lose their deposit. Most of this stems from the buyers deciding to purchase a home in the heat of the market, […]

Six Figure Income Required To Buy in the GTA

August 22nd, 2017

If the past year of insanely high home prices hasn’t made you rethink home ownership, maybe this new report will. Two real estate companies conducted separate studies and have come up with the income requirements if you are looking to afford a home in Toronto. The results don’t seem to benefit Canada’s millennials. A majority […]

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