Tag Archives: TREB (Toronto Real Estate Board)

GTA's most expensive (and least expensive) home

GTA’s most expensive (and least expensive) home

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GTA’s most expensive (and least expensive) home

A search of the Multiple Listing Service at realtor.ca found the most expensive and least expensive homes in the GTA.

HIGH

68 THE BRIDLE PATH: $35 million
MLS number: C3910864

Quintessential gated French chateau-style home and preeminent country estate located on the highly sought-after Bridle Path. The home features nine above-grade bedrooms, 14 bathrooms, a games room and library.

The home offers spectacular grandeur on a four-acre ravine lot enhanced by manicured gardens, a stately fountain and a magnificent arboriculture paradise of privacy. Stone mansion exudes elegance, majesty and authenticity. The home features a 50-foot indoor swimming pool and an exquisite 18th-century period French onyx and marble fireplace mantles. Extras include custom granite, cobblestone driveway, formal granite and stone entrance, aged Italian marble floors, crown moulding, French doors, Downsview kitchen, elevator, Dectron pool system, tennis court, gazebo, potting cabin and golf cart.

Re/Max Realtron Barry Cohen Homes Inc.
Brokerage
183 Willowdale Avenue, Unit 6, Toronto, 416-222-8600
Patricia Sun, salesperson, 416-930-6920
Toll Free: 416-930-6920
barrycohenhomes.com



LOW

4673 JANE STREET, UNIT 1006: $58,000
MLS number: W3878963

A one-bedroom, one-bathroom condo with underground parking and locker and ceramic floors throughout. The bath has a mirrored sliding door and there is a sliding glass door to an enclosed balcony with a fabulous view. Large storage spaces and large hallway closet. Close to all amenities with a plaza across the street with supermarket, drug store, gas station, bank, restaurant, laundromat, doctor and dental offices, churches, schools and TTC at door. Walk to York University, Canada’s Wonderland is five minutes away, Black Creek Pioneer Village is walking distance. Extras: Fridge, stove, blinds (window coverings). Pets allowed, playground at back of building and 24-hour security. Maintenance fees are $566.43 a month.

Homelife Woodbine Realty Inc.
Brokerage
680 Rexdale Boulevard, Unit 202, 416-741-4443
Danny Tulshi, salesperson, 416-741-4443
homelifewoodbine.ca


Data provided by Toronto Real Estate Board. All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations are made of any kind.

As of October 22, 2017



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Real Insight: Realtors Provide Expert Advice And Guidance

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Real Insight: Realtors Provide Expert Advice And Guidance

New TREB president looking forward to an exciting future for real estate in the GTA

I assumed my role as president of the Toronto Real Estate Board on July 1 and I am excited for the year ahead. I am also honoured to be working with, and representing such an esteemed group of professional TREB member realtors. We’re listening to our members who in turn serve the best interests of their clients.

TREB’s board of directors are an elected group of volunteers who represent over 48,000 Greater Toronto Area realtors. As an organization, we are collectively representing a strong voice for the profession and industry to the public and decision makers.

The board’s top priority for 2017/18 will be to continue to provide members with the tools and services they need to best serve their clients. TREB members have access to more than 100 tools and services, which involves providing members with leading technology, cutting-edge industry knowledge and quality professional development opportunities.

Simply put, the goal is to ensure that TREB members continue to be the expert resource, with access to the tools and services that give them the skills necessary to guide clients through one of the largest financial decisions they will ever make. This is key to providing clients with the confidence they need, whether you’re a buyer, seller, or renter.

If you have questions about the GTA housing market, talk to a Toronto Real Estate Board Professional member realtors.

TREB members possess the knowledge and skills that enable them to help buyers, sellers, and renters alike navigate the GTA marketplace with confidence.

Tim Syrianos is president of the Toronto Real Estate Board, a professional association that represents 48,000 professional realtor members in the Greater Toronto Area. You can contact him at TREBpres@trebnet.com. For updates on the real estate market, visit TREBhome.com. If commercial property is what interests you, contact a TREB realtor by visiting TREBcommercial.com.

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Real Insight : The Benefits of Home Ownership

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Real Insight : The Benefits of Home Ownership

People are looking at more creative ways to get into the market. Consumers are teaming up to buy a home with family and/ or friends, families are looking to alternative housing options that are offered beyond the traditional detached property — perhaps a townhouse or even a condo is more suitable to their lifestyle — and some are even looking to areas/ neighbourhoods outside of the more well-known “hot pockets.”

There are also several programs that can help assist with a down payment, and a realtor may advise as to your options. One notable mention goes to Habitat for Humanity GTA. Habitat helps low-income families achieve their dream of home ownership through decent affordable housing, and most recently TREB contributed $150,000 to a new home build for a local family at Habitat’s 140 Pinery Trail build site.

GROWING YOUR WEALTH

Home ownership will likely be one of the largest investments in your life. Home ownership can offer you a straightforward way to build your wealth and save for retirement. And, unlike other investments, you can live in your home as it provides a nest egg for your future. Plus, if your home is your principal residence, price gains are exempt from capital gains tax.

BE A PART OF A COMMUNITY

Finally, your home provides you with the backdrop for all of life’s most important events. Owning your home means contributing to and becoming part of a vibrant community – this is the part of your investment that you just can’t put a price on.

Owning a home in a neighbourhood you can call “home” buys you a sense of security and peace of mind that is truly priceless.

So, whether you’re considering buying your first property, or you’re looking to downsize to a more manageable space, remember that home ownership is a great investment that you can also live in.

Larry Cerqua is president of the Toronto Real Estate Board, a professional association that represents 45,000 professional realtor members in the Greater Toronto Area. You can contact him at TREBpres@trebnet.com. For updates on the real estate market, visit TREBHome.com. If commercial property is what interests you, contact a TREB realtor by visiting TREBCommercial.com.

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Real Insight – Modernizing The Home Inspection Industry Could Help To Further Protect Consumers In Ontario

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Real Insight – Modernizing The Home Inspection Industry Could Help To Further Protect Consumers In Ontario

Ontario has recently introduced legislation under the Putting Consumers First Act that proposes to regulate inspection service companies.

Currently, home inspectors are the only real estate-related professionals in Ontario that are not regulated.

If the bill is passed, home inspectors would require a license and an administrative authority to oversee home inspectors would also be created. The administrative authority would establish a code of ethics, and a standard for home inspection reports and contracts. They would also be responsible for handling complaints, as well as the enforcement processes through discipline and appeal committees.

The Toronto Real Estate Board, along with various industry partners, including the Ontario Real Estate Association, has long advocated for the licensing of home inspectors and the standardization of the industry.

I believe it is critical for the home inspection industry to be regulated in Ontario, if not to raise the bar and increase the credibility of the home inspector profession, but to provide added protection for consumers.

Realtors are not home inspectors and most real estate professionals will advise their clients to conduct a home inspection. In fact, the home inspection is useful to both buyers and sellers and can help increase consumer confidence in the real estate transaction. From a seller’s point of view, conducting a home inspection in advance has the added advantage of enhancing their home’s selling potential and can help close the real estate transaction faster. From a buyer’s point of view, knowing their new home has been given the seal of approval by a credible home inspection professional may add to the confidence of their purchase decision.

This legislation, if passed, would augment the value of a home inspection as part of the real estate transaction as home inspectors will be increasingly able to offer, according to a standardized process, a knowledgeable, accountable and credible assessment of your home.

If you have questions about home inspections, talk to a Toronto Real Estate Board Professional Member Realtor. For updates on the real estate market, visit TREBhome.com. If commercial property is what interests you, contact a TREB Commercial Professional Member Realtor by visiting TrebCommercial.com.

LARRY CERQUA is president of the Toronto Real Estate Board, a professional association that represents 45,000 professional realtor members in the Greater Toronto Area. You can contact him at TREBpres@trebnet.com.

For updates on the real estate market, visit TREBhome.com. If commercial property is what interests you, contact a TREB Commercial Professional Member Realtor by visiting TrebCommercial.com.

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Real Insight – Downsizing May Upsize Your Bank Account

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Real Insight – Downsizing May Upsize Your Bank Account

But weigh the pros and cons before making the big move

Downsizing is on the minds of many these days. Maybe it’s the changing demographics as baby boomers become empty nesters and look for a smaller home; or maybe it’s the market as supply continues to dwindle for detached and semidetached home types. Whatever it is, downsizing is a delicate balancing act and it’s important to consider the tradeoffs before you choose to relocate.

Perhaps the most obvious benefit of downsizing is the financial one. In today’s GTA housing market, there may be a good chance that you’ll be able to sell your home at a premium, freeing up cash for retirement, travel, etc. Downsizing may even afford you the luxury of buying your next home mortgage-free, giving you financial breathing room through your golden years.

Aside from the financial payout downsizing may afford, there are also potential positive lifestyle changes in store. Perhaps you’ll relocate to a condo in a convenient, walkable area. With groceries, restaurants and theatres at your doorstep, condo living in the heart of a city can be quite attractive. Plus, living in a condo can afford you a simpler life, with security in the building and less home maintenance being some of the attractive pros. Or, maybe you’ve always dreamed of a simpler life far outside the city and can’t wait to indulge in a vacation lifestyle year-round.

Downsizing is good for the GTA housing market as a whole as well. Selling your home could help offset the supply/demand imbalance we’re currently seeing in the marketplace.

Of course, financial gain and a more convenient and relaxing lifestyle seem like great reasons to downsize, but many people rush into the decision motivated by these factors without considering the trade-offs. I believe it’s critical to understand what it is you may be giving up before you take the plunge.

Downsizing can be a real culture shock. After so many years living in a big home that’s in a familiar area and close to all your friends, family and favourite shops and services, changing your location can be a bit unnerving. While it could be the right decision for you, it’s important to understand how it may impact your life when making such a decision.

For instance, when you downsize you may have to face a decision to part with some of your valuables, collections and treasures. If you’re considering moving outside of your current neighbourhood, how much distance will you and your family/friends have to travel when getting together, and will you have the space to house and entertain them when they come to visit?

So, before you take the next step in your downsizing adventure, think about what it means to adapt to a new lifestyle. Weigh the positive and negatives and be open and realistic about your expectations. A professional TREB member realtor has helped many with this type of decision and may offer you the insight and advice you need to help you make that decision.

For updates on the real estate market, visit TREBHome.com. If commercial property is what interests you, contact a TREB commercial realtor by visiting TREBCommercial.com.

Larry Cerqua is president of the Toronto Real Estate Board, a professional association that represents 45,000 professional realtor members in the Greater Toronto Area. You can contact him at TREBpres@trebnet.com. For updates on the real estate market, visit TREBHome.com. If commercial property is what interests you, contact a TREB realtor by visiting TREBCommercial.com.

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Toronto house prices not fuelled by foreign funds: TREB

Toronto house prices not fuelled by foreign funds: TREB

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Toronto house prices not fuelled by foreign funds: TREB

Toronto Star

Don’t blame overseas investors for the high price of housing in the Toronto area, says the city’s real estate board.

The Toronto Real Estate Board (TREB) released new research Tuesday showing only 4.9 per cent of the 113,133 residential real estate transactions in the Toronto region last year involved foreign buyers.

More than half of those buyers were purchasing homes for themselves or family members, according to an October Ipsos poll of more than 3,500 TREB members, who acted on behalf of those buyers.

https://www.thestar.com/business/2017/01/31/toronto-house-prices-not-fuelled-by-foreign-funds-treb.html


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TREB releases market year in review and outlook report

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TREB releases market year in review and outlook report

(CNW) — The Toronto Real Estate Board (TREB) released its annual Market Year in Review and Outlook Report January 31 at its Economic Summit.

The report provides a look forward into the 2017 housing market and tackles top-of-mind issues, including consumer intentions, foreign buying activity in the Greater Toronto Area, impact of transportation infrastructure on housing affordability, and the lack of housing supply.

TREB is forecasting another strong year for home sales through its MLS System in 2017, with more than 100,000 sales forecast for the third consecutive year. Between 104,500 and 115,500 home sales are expected this year, with a point forecast of 110,000 — down slightly from 113,133 sales reported by GTA realtors in 2016.

Ipsos, on behalf of TREB, undertook a homebuyers survey in November 2016. The survey focused on consumer buying intentions in 2017. Compared to a similar survey conducted at the end of 2015, the number of likely buyers was down slightly. However, GTA households still seemed upbeat about ownership housing. This included first-time buyers, whose share of overall buying intentions increased to 53 per cent from 49 per cent a year earlier.

“While changes to federal mortgage lending guidelines and higher borrowing costs may impact some would-be homebuyers, the big impediment will be the lack of inventory,” said Jason Mercer, TREB’s director of market analysis. “Active listings at the end of December were at their lowest point since before 2000. It is unlikely that the shortage of listings will improve to any great degree over the course of the next year. This will put a ceiling on sales growth.”

As a result of very strong demand for ownership housing up against an extremely constrained supply of listings in 2017, double-digit annual rates of price growth are expected to remain in place for the majority of home types across the GTA. The growth rate for the average selling price will be between 10 and 16 per cent with an average price range between $800,000 and $850,000. TREB’s point forecast for the average selling price is $825,000.

Lowrise home types, including detached and semi-detached houses and townhouses, will experience the strongest annual rates of price growth, but the condominium apartment market segment will remain tight as well.

The Ipsos homebuyers survey confirmed that likely homebuyers are expecting to see strong home price increases in 2017. However, Ipsos also found that the average homebuyer is planning on making a substantial down payment – 27.6 per cent for all recent homebuyers combined and 23.9 per cent for first-time buyers. The sources of homebuyers’ down payments were also quite diverse, including savings within and outside an RRSP, gifts from friends/family and equity built up in their current dwelling.

Despite relatively large down payment percentages, home price growth has obviously been a concern from an affordability perspective. The policy reaction to date has been focused on the demand side of the price growth equation. Changes to federal mortgage lending guidelines and ruminations about a foreign buyer tax for the GTA dominated the headlines in the second half of 2016.

A foreign buyer tax in the GTA would be misguided. In order to obtain actual empirical data on foreign buying activity in the GTA, as opposed to conjecture, TREB commissioned Ipsos in November 2016 to survey its members, who acted on behalf of homebuyers during the preceding 12 months, as to foreign buying activity in the region. Key findings were as follows:

  • Only an estimated 4.9 per cent of GTA transactions, in which TREB members acted on behalf of a buyer, involved a foreign purchaser.
  • The great majority of foreign buyers purchased a home as a primary residence (40 per cent), to rent out to tenants in an extremely tight GTA rental market (25 per cent), or for another family member to live in (15 per cent).
  • Less than 2 per cent of realtors had been involved in a transaction for a foreign buyer that they knew was impacted by the foreign buyer tax in British Columbia.

An additional land transfer tax on foreign buyers could have unintended consequences, including:

  • Tighter market conditions and stronger price growth in neighboring communities/regions without a tax;
  • Less rental supply, because the number of investors looking to purchase and rent out a property could decline;
  • A potential negative impact on immigration. It is important to remember that population growth in the GTA, on net, is driven by immigration.

“Housing affordability, and affordable homeownership in particular, is a growing concern. Home prices will increase well above the rate of inflation and income growth in 2017, as the supply of listings remains very constrained.” said TREB CEO John DiMichele. “While governments have been focusing their policy solutions on allaying demand, what is needed are policies that focus on the lack of available homes for sale and for rent. The public, private and not-for-profit sectors need to come together to focus on innovative solutions to the housing supply issue.”

In addition to analyzing market fundamentals influencing demand, supply, price growth, and, ultimately, affordability, TREB had the Canadian Centre for Economic Analysis (CANCEA) undertake a study on how improved transit infrastructure, and particularly the Metrolinx Regional Express Rail plan (RER), can impact housing affordability. The study found that the impact of RER on affordability is largely positive in the regions making up the GTA and surrounding GGH, especially when residents take advantage of the new transportation infrastructure and switch their mode of commuting. Improved transit infrastructure can also add price premiums of up to 12 per cent to a home’s value. The findings of CANCEA’s study are summarized in the report.

The report can be found at http://trebhome.com/market_news/release_market_updates/news2017/pdf/2017-MarketYearInReview.pdf

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Real Insight : What To Expect When You’re A New Homeowner

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Real Insight : What To Expect When You’re A New Homeowner

Becoming a homeowner can sometimes feel overwhelming and the process may cause you to overlook some key chores. These recommendations come from the experiences that I’ve encountered with my clients over the years, and I hope they help you in the moving process. Good luck!

CHECK IN WITH THE SELLER

Before the moving process begins, you may have questions about your new home and the sellers are most likely the best people to fill you in on some of the questions I’ve posed below. They’ll also be able to leave behind important information and documents, including manuals and service records for appliances and utilities.

UPDATE YOUR INFORMATION

One of the first things you might want to do is to go to notify everyone of your change of address. That way you will avoid missing any bills or important pieces of mail.

Book an installation appointment with your cable, phone and internet providers to avoid any interruptions in your service. Once you inherit the keys, don’t forget to ask that they be labelled; it will help with not having to guess which key is for what. You also may want to change the locks for added peace of mind.

GET TO KNOW YOUR HOME

Learn where to locate the shut-off valve, hoses, window screens, etc. Inherited an alarm system? Learn the code and how to arm and disarm it. Find out how to maintain a pool or hot tub, and don’t forget to check when garbage day is. After all, you’re going to have a lot of stuff you’ll need to get rid of. If you have pets, check the fence lines at your new home to make sure they’re secure.

CAPITALIZE ON AN EMPTY SPACE

After the sellers move out, you have an empty space to capitalize on. You may want to take advantage and give the place a thorough cleaning, or measure all rooms to ensure that your furniture can fit (don’t forget to measure the doorways). This might also be the perfect time to undergo any renovation projects you had in mind. From applying a fresh coat of paint, to installing hardwood, or undergoing a full kitchen makeover, you may not find a better time to accomplish these tasks.

I hope these tips help you in your transition to your new home. If you have further questions about the moving process, talk to your Toronto Real Estate Board member realtor.

Larry Cerqua is president of the Toronto Real Estate Board, a professional association that represents 45,000 professional realtor members in the Greater Toronto Area. You can contact him at TREBpres@trebnet.com. For updates on the real estate market, visit TREBHome.com. If commercial property is what interests you, contact a TREB realtor by visiting TREBCommercial.com.

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TREB applauds protection of first-time homebuyers

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TREB applauds protection of first-time homebuyers

(Marketwired) — The Toronto Real Estate Board is encouraged that the City of Toronto’s budget committee has decided not to currently move forward with proposed Land Transfer Tax increases on first-time home buyers. However, TREB remains concerned about a proposal to increase the Land Transfer Tax by $750 for all other buyers and is also calling for other changes that will help first-time buyers.

“The city’s budget committee has done the right thing by taking proposals to hike the land transfer tax on first-time buyers off the table,” said Larry Cerqua, TREB president. “TREB has been voicing its concern on these proposals since they were first announced late last year, and we are glad to see that city hall is listening. We believe that Mayor (John) Tory understands the importance of keeping Toronto affordable for everyone, especially first-time buyers, and we applaud his leadership in this regard.”

The budget committee was considering a staff recommendation to increase the city’s Land Transfer Tax by $475 on all first-time buyers, and by as much as $4,475 for some first-time buyers. Staff also recommended increasing the Land Transfer Tax by $750 on all other homebuyers. The budget committee decided not to move forward with any increases for first-time buyers by increasing the rebate to $4,475 from $3,725 to offset the $750, which other buyers will face.

TREB has been speaking out against the proposed increases and recently launched a campaign to highlight this proposal to the public, encouraging them to visit AnotherObstacle.ca to let Councillors know how they feel about these proposals.

“We are glad that the budget committee has addressed some of the concerns that homebuyers have with these proposals, but city council needs to go further,” said Von Palmer, TREB’s chief communications and government affairs officer. “A proposal to hike the Land Transfer Tax by $750, or 7 per cent, for all repeat buyers is still on the table. City hall’s take from this tax has increased by 200 per cent since 2008, from $3,725 to over $11,000 on an average priced property. Hasn’t city hall already taken enough from homebuyers?”

While TREB is encouraged that the budget committee is not moving forward with the proposed increase for first-time buyers, TREB believes that city council should be going further by providing new relief for first-time buyers. Currently, first-time buyers are allowed a rebate of the Land Transfer Tax that is payable on a purchase price of up to $400,000, which was the average price when this tax was implemented in 2008. The average price in 2016 was over $700,000, which means that first-time buyers have lost substantial ground on the rebate.

The provincial government recently recognized this concern by doubling the provincial Land Transfer Tax rebate.

TREB is calling for city council to make similar adjustments to the city’s Land Transfer Tax rebate to account for increases in housing prices.

“When the Land Transfer Tax was implemented, city council put in place a rebate that essentially meant first-time buyers purchasing an average-priced home paid zero city Land Transfer Tax,” said Palmer. “Today, that purchaser would pay over $6,000 in Land Transfer Tax. City council should follow the provincial government’s lead and give first-time buyers the relief that they deserve.”

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Real Insight : New Homeowner? Things To Consider

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Real Insight : New Homeowner? Things To Consider

Becoming a home owner can sometimes feel overwhelming, and the process may cause you to overlook some key chores.

These recommendations come from firsthand experience that I’ve encountered with my clients over the years, and I hope they help you in the moving process. Good luck!

Check in with the seller

Before the moving process begins, you may have questions about your new home and the Sellers are most likely the best people to fill you in on some of the questions I’ve posed below, and they’ll also be able to leave behind important information and documents, including manuals and servicing records for appliances and utilities.

Update your information

One of the first things you might want to do is update your information. Change your address to avoid missing any bills or important pieces of mail. Book an installation appointment with your cable, phone and Internet providers to avoid any interruptions in your service. Once you inherit the keys, don’t forget to ask for the keys to be labeled, it will help with not having to guess which key is for what, or you may want to change the locks just for ease and added peace of mind.

Get to know your home

Learn where to locate the shut off valve, hoses, window screens etc. Inherited an alarm system? Learn the code and how to arm and disarm it. Find out how to maintain a pool or hot tub, and don’t forget to check when garbage day is. After all, you’re going to have a lot of stuff you’ll need to get rid of. If you have pets, check the fence lines at your new home to make sure they’re secure.

Capitalize on an empty space

After the Sellers move out, you have an empty space to capitalize on. You may want to take advantage and give the place a thorough cleaning, or measure all rooms to ensure that your furniture can fit (don’t forget to measure the doorways!). This might also be the perfect time to undergo any renovation projects you had in mind. From applying a fresh coat of paint, to installing hardwood, or undergoing a full kitchen makeover, you may not find a better time to accomplish these tasks.

I hope these tips help you in your transition to your new home. If you have further questions about the moving process, talk to your Toronto Real Estate Board Member Realtor.

LARRY CERQUA is president of the Toronto Real Estate Board, a professional association that represents 45,000 professional realtor members in the Greater Toronto Area. You can contact him at TREBpres@trebnet.com.

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