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GTA home sales down 35% from February 2017

Tuesday Mar 06th, 2018

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Toronto Real Estate Board Reported the number of homes sold last month fell nearly 35% and the average selling price dropped 12% from the historically high levels set last year. The average selling price covering all types of residential sales was down 12.4% to $767,818 compared to last year and the number of transactions were also down to 5,175 compared to 7,955 sales in February 2017 down 34.9%. Toronto Real Estate Board showed the biggest drop was in detached homes in both the... [read more]

Market Stats For January 2018

Tuesday Feb 06th, 2018

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Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 4,019 residential transactions through TREB's MLS® System in January 2018. This result was down by 22 per cent compared to a record 5,155 sales reported in January 2017. The number of new listings entered into TREB's MLS® System amounted to 8,585  a 17.4% increase compared to 7,314 new listings entered in January 2017. However, it is important to note that the level of new listings... [read more]

Interest Rate Hike for 3rd Time Since Last Summer

Wednesday Jan 17th, 2018

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The Bank of Canada raised its key interest rates to 1.25%. The bank’s rate has an impact on rates that Canadians get from retail banks for things like mortgages, saving accounts and GICs. The bank of Canada now expects Canada’s economy to grow by 2.2% this year and 1.6% in 2019. Previously the bank’s expectations were 2.1% and 1.5% growth for next year 2019. What does this mean for a homeowner today with a $300,000 mortgage and 25-years Amortization. $300,000 25 yrs... [read more]

RBC, TD, CIBC RATE HIKES

Monday Jan 15th, 2018

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The Royal Bank of Canada raised its posted rate for a five-year, fixed-rate mortgage by 15 points to 5.14%, and TD also matched The Royal Bank’s new rate. CIBC’s five-year posted rate had been at 4.89% and when The Royal Bank and TD raised to 5.14%  CIBC hiked its five-year rate to 4.99% so that’s three of Canada’s biggest banks who have hiked the rate. Scotiabank is reviewing its rates and most likely will make changes. The Bank of Canada will announce the next... [read more]

Selling a home is very different from buying a home.

Wednesday Jan 10th, 2018

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  Buying a home generally involves feelings and emotions and selling a home is all about maximizing the potential profit. I would like to help you and your family by providing you a few tips on how to maximize the profits when selling your home. Price your home according to the current market conditions and for this, you should hire a reputable real estate agent who works in your neighborhood. Your agent will analyze a comparative market analysis also called CMA this will help you... [read more]

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