Real Estate

Real Estate – August 2021 Interview

Last week I had the pleasure of being interviewed by Chris Molder from Tridac Mortgage. I talked about the August 2021 numbers as well as:• Pent up demand in Toronto• Low supply in the market• Does Toronto have a housing crisis?• Federal party platforms on housing• The Toronto condo market To watch the video or read the full transcript, go here:Watch the Interview If you need any help...

Is Blind Bidding Fair?

Last week, a ban to blind bidding in real estate sales was proposed as an election promise by one of the parties. Blind bidding is when multiple buyers try to buy the same property.  Since they can't see what the other offer prices are, they are "bidding blindly" and prices can escalate. Whenever I sell a property with multiples offers, there is often a wide spread in the offer prices.  A...

What’s the Best Investment? (Part #2)

Last week, I recommended investing in your Principal Residence before thinking about other investments. Your lifestyle would improve and all of your appreciation would be tax-free! Read part #1: "What's the best investment?" But let's say you're already happy with your existing home. What should you invest in next? My recent clients were exactly in that situation. They wanted real estate...

What’s the best investment?

I'm often asked about which type of investment property will return the largest profit.  Is it pre-construction, condos or single-family homes?  I always answer the same way: "Firstly, have you thought about maximising your primary residence before you buy an investment property?"  In Canada, when you sell your home, you don't pay any taxes on the profit you make - at least for...

Is it Time to Sell?

I've been asked twice this week if now is a good time to sell.  To answer this question, let me tell you about the 4 seasons of real estate that occurs every year. Typically speaking, the highest price you will get is in the "Spring Market", followed by the "Fall Market".  The worst time to sell is in the "Summer" or "Winter" Markets. If you read the July Real Estate Report, you'll see...

July Real Estate Report

In July, the average home in Toronto sold for $1,062,256 which is an increase of +12.6% compared with last year. The average sales-price is down for the past two months, and I anticipate things to heat up again in September. Anecdotally, I'm seeing some weakness in the housing market.  Don't get me wrong, there are still multiple offers and "over-asking" prices. But I'm seeing a lot more...

Crazy Summer Market

Last month, I wrote about how the rental market goes crazy EVERY YEAR during the Summertime. (Read the blog "Why you need to rent a place soon!" You may be thinking, sure, it only happened for the past 10 years, but will it happen again this year? We won't know for sure until the stats come out in September. All I can say is in the past week:• I've had 80 sets of tenants contact me•...

Effective Multiple Offers

We recently sold this amazing 4-bedroom home in Mississauga for +$200k over asking with 7 offers and more than 50+ showings. Many sellers and their agents feel they just need to "put it on the MLS and it will sell itself".  It might sell, but you are probably leaving money on the table. There's so many different things that you have to do to maximize the value.  A Good Product A Lot of...

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