Do you envision a home pleasantly positioned on an idyllic street, nestled under canopies of mature trees? And how about being able to come home every day to a house that offers both substance and knockout style?
The buyers are back out and the sellers are getting their asking prices, in some cases, more. Deal hunters may have been hoping to take advantage of a down market, but there is enough demand to keep prices up. It looks like there will be a prolonged spring market and possibly a busier summer. Low interest rates may be drawing people into the market.
The Covid19 induced trends in the job market could lead to housing preferences that move away from dense metropolitan areas and an outward migration of young families that could be considered the new “Hipsturbia”.
You might have noticed recently that Toronto’s laneways have become dotted with new construction projects with garages with an upper level living space. The City recently approved laneway housing as a means to add to Toronto’s housing stock. It can also add tremendous value and income potential to your home.
To illustrate how quickly the condo market changed as a result of COVID-19, resale activity was up 25% year-over-year during the first half of March 2020 and fell 21% year-over-year in the second half of the month, with even steeper annual declines of over 70% reported for April. However, the GTA market was exceptionally tight leading into the COVID-19 period, creating spillover demand that has enabled the limited number of units on the market to continue transacting. In fact, the average sale price-to-list-price ratio has remained near 100% through April, and the average days on market was unchanged at 18 days.
While the Junction benefits from the transitions brought about by gentrification, the newer condominium developments are interspersed with low-rise, character housing, like Victorian-era brick homes, row houses and merchant-class cottages that communicate its roots, along with a sense of its future. Formerly the heart of the CP railyards, the Junction is very much still an epicenter of activity. In fact, some of the hippest hangs in the city are in this neighbourhood.
If you love giving those time-worn furniture pieces a new life then maybe, just maybe you’ve heard of the little craze called ‘chalk paint’. St. Clair West welcomed Poppy Seed Creative, owned by Jelena and she’ll teach you how to breath new joy and life into that time-worn piece confined to you basement.
Whether or not you’re in a committed relationship, it is so very important to be in charge of their building your personal wealth. There are creative ways to get into the real estate market that doesn’t have to include a romantic partner. Think business partner instead.
The Toronto Real Estate Board just released the April 2020 Sales Report and as bleak as it may look with sales down 67%, home prices remained at April 2019 levels.
Riding the wave of gentrification is ideal for a homebuyer. Not only do you get to witness first-hand the next stage of evolution of a neighbourhood, the investment upside is substantial. Neighbourhoods in the midst of transformation have a unique texture and vibe; it’s the by-product of mingling grit from the past with the potential of the future in real time.
Where you live your life figures heavily into how you live your life. It’s important to have the features you dream of within the walls of your home, but equally important is to have amenities that boost and enhance your daily living right in your neighbourhood. And if you can combine convenience, style and choice all in one incredible location? That’s tying a bow around the opportunity!
The mid April market update was released from the Toronto Real Estate Board for the first 17 days of April and it provides the first comprehensive look at the state of our market during the government shutdowns. Sales were down 69% compared to the same...
Owning an investment property can be a wise investment that not only lets you grow your asset wealth over time, but also can provide you with positive cash flow today. However, property investment isn’t as easy as buying a property and waiting for the cash to start rolling in. It is important to choose your property wisely, and to employ a well-researched strategy. Remember, The deal is in the buy.
Generating rental income is an excellent way to improve cash flow and build up your wealth over time. It can also be a great way to keep your own mortgage costs down, all the while building up equity.
The overall March sales results were clearly driven by the first two weeks of the month. There were 4,643 sales reported in the pre-COVID-19 period, accounting for 58% of total transactions and representing a 49% increase compared to the first 14 days of March 2019. There were 3,369 sales reported during the post-COVID-period – down by 15.9 per cent compared to the same period in March 2019. For March as a whole, new listings were up by 3% year-over-year to 14,424.
As we’ve now entered a new phase of the Pandemic, it’s clear now that Covid-19 and its impact on our daily lives will be lasting. While many of the changes to our daily lives have been drastic, there are stll many shifts that will be much more subtle and longterm. Admist it all, we’re fortunate to have access to so many digital platforms that connect us and offer some continuity of what life was like before Covid-19 gripped our city.
If you’re planning to buy a home in the next little while, you will likely have to do it sight unseen. Just a few days after the Ontario Real Estate Association (OREA) urged its members to cancel all open houses, the group is now urging agents to stop all person-to-person business. That includes “open houses, and in-person showings, particularity of tenant-occupied homes,” OREA said in a statement Tuesday afternoon. “While clients who may decide t o host private showings during this time are making the decision for themselves, tenants often have no choice in the matter, putting the health of all those involved at risk.”.
The past two weeks have marked a massive paradigm shift in our lives. Our daily routines have been appended by the ever increasing cacophony of terrifying news reports, school closures, lockdowns and tense conversations amongst friends and family, all trying to decipher the new meanings of self-isolation, social distancing.
One the best attributes of Toronto is patchwork of distinct neighbourhoods, each with its own unique vibe and character. Koreatown is a favourite, running along the stretch of Bloor Street, between Bathurst and Christie.
Anyone in the market to buy a home in Toronto would be well-accustomed to the notion of a bidding war. The concept is almost ubiquitous with Toronto Real Estate.