254 BROCK AVE for sale in Brockton Village, my home.

 

MY HOME…254 Brock Ave for sale in Brockton Village. Offered at $599,000 [Read more…]

Toronto Real Estate Infographic- February 2014

Toronto Real Estate Infographic- February 2014

 

Hmm. Well look at that…there are still bidding wars. Surprise! This is the latest news garnered from our stats department regarding the Toronto market. And another thing… I , for one, am interested in this new city ranking system for 140 neighourhoods in Toronto. See more below.

Click on the image to read further.

2014 bosley february infograph

2014 Average price of freehold homes sold by neighbourhood in toronto

 

Here we go, another year gone by and again, prices have risen partly due to historically low interest rates and partly due to the lack of product to fit the demand.  Here’s an overview of the average price of freehold homes sold by neighbourhood in Toronto for the year 2013 up to now. [Read more…]

Could co ownership be the new way of buying in today’s Toronto market?

 

It’s difficult to enter the market and buy a house on your own in Toronto when the average selling price is $523,000. Could co ownership be the new way of buying in today’s Toronto market?

Although it’s not unheard of in Vancouver or Montréal, co-ownership is not that common here.There was a house in Trinity Bellwoods [Read more…]

Community rallies in support of Kathleen Byers the Crossing Guard

 

Brockton Village’s crossing guard, and well loved neighbourhood fixture Kathleen Byers, has been banned from dancing on the job by the Toronto Police Services.  The reaction from the community was instant: “Why kill the joy out of someone who obviously loves her job? Oh come on, this is ridiculous!  “. This feeling reverberated throughout the neighbourhood and on social media. Right away people sprung into action.

[Read more…]

Fear of Buying a Home

 

 

Buying a home can be a scary proposition for most people, especially first-time buyers. No wonder! It’s likely it’s the most money you’re going to spend on anything in your life, there are a multitude of unfamiliar terms, legal documents, etc. It seems so permanent! [Read more…]

Market Update for the Toronto Market- May 17th

MARKET UPDATE FOR THE WEEK ENDING MAY 17TH

 

The Downtown Toronto Real Estate Market recorded another stellar week of sales in both freehold homes and condominiums. Sales “at or above list price” remains in the 60% range of total sales signalling a continuation of a strong Seller’s market. With the cold weather [Read more…]

497 Salem Ave Income Property! Analyze this!

497 Salem Ave, Toronto, ON.

It’s tough nowadays to afford a house in central Toronto but there are creative ways to home ownership if you think about it. This Salem house is on the market today and it  looks promising. This sweet house is ready to move in, modern, open , airy and bright…and guess what? It’s NOT holding back offers!   Consider these two options: [Read more…]

House values in Toronto have gone up, not down, since last year!

 

Did you know that, despite all the media coverage saying the market was going to dip down, crash or flatten this year, the average sold price for freehold homes compared to last year has gone up 2% on average for the GTA?

…and that’s a pretty spread out area with different market influences. If we’re talking about central Toronto, it was a whopping 5.4% increase!  (all the C, W, and E areas)

 

For the condo market, that’s another story. The average price has gone down 4.5% compared to last year.

 

My Advice

 

If you’ve been sitting on the fence waiting to buy a home, get in the market now before you get priced out of the market.

If you’re considering buying a condo, prices are lower now. If you were previously disheartened about getting into the market, this might be a good stepping point for you.

 

Why?

 

  • Mortgage rates are still at an all time low.
  • If you think that waiting and saving for a larger down payment is going to get you a better house, think again. You won’t be able to save at the same rate as the market goes up.
  • For the first time in mortgage history, for every dollar you make as a mortgage payment, almost 50% is going towards paying down the principal on your mortgage and therefore building equity: that is,  you’re putting money in your own pocket.
  • Add to that a yearly 2% increase in value of your property further building your equity.
  • Everyone needs a place to live; it’s not just a wise investment, it’s a home.

 

On a personal note, I bought my present home about 7 years ago and it has gone up in value close to 100%.  It’s the best investment I’ve ever made!

If you’re unsure about whether you can afford it, or if owning a home is something you’d like to do, call me at 416 805 8084 and I’d be glad to chat with you. I won’t bite.

Feel free to share this by clicking on the icon below.

 

AVERAGE HOME SALES FOR TORONTO WEST NEIGHBOURHOODS- JAN-FEB. 2013

 

As is typical for this time of  year, there is less stock. You’ll see below that a couple of neighbourhoods had nothing sold in this period. Average homes sale prices in Toronto tend to be a bit lower.  The trend seems to be that a very small minority of homes sell above asking price. If they do, it’s because [Read more…]