There has been a lot of Buyer's Remorse reported in the media, but I don't think it's anything new. During market upswings, Sellers often have remorse that they "sold too soon!" and during downswings, Buyers often feel they "bought too soon!" It's impossible to predict the future, so all you can do is make the right decision based on the information you have at the time. A word of caution! I've been...
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Do you have to leave after your lease ends? Do you know all of your legal options? Join Lawrence Mak as I talk about what a 12-month lease means and the different options that tenants and landlords have at the end of the period.
This is another story in the media about Buyers losing money when dealing with preconstruction buildings. As the article states (not proven in court yet), Boss Luxury Towns was a 72-townhouse project in Richmond Hill. The builder was operating without a license and so the project was cancelled. Unfortunately, only $100k of the deposits are "protected" and so some Buyers may potentially...
In April 2022, the average home sold for $1,254,436. This is down -3.5% from last month, but up +15.0% from last year! There were 8,008 sales in April which is 41.2% lower than in 2021. So what does this mean for you? If you’re buying… This is an excellent opportunity to get what you want without as much competition. Possibly at a discount! And for the Buyers who don't want as...
The average home sold for $1,254,436 across the GTA, which is an increase of +15.0% since last year.
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In March 2022, the average home sold for $1,299,894. This is down -2.6% from last month, but up +18.4% from last year! There were about 11,000 sales in March which is a lot lower than in 2021, when there were 15,628 homes sold. Detached homes are down from last month. Condos are slightly up but not significantly. The few Sellers that were aware of the trend likely cashed in as soon as they...