As home prices continue to sky-rocket, one common practice we are seeing all across Canada is the blind bidding. When multiple buyers bid on a property, they have no idea what their competitors are offering. Many bidders aim high in hopes of beating out everyone else, driving up prices as excessive bids set new precedents for a neighbourhood…

The weather was perfect this weekend for celebrating the first days of Spring! After a year at home we’re more excited than usual for some good Spring Cleaning & de-cluttering. Here are a few local Toronto charities currently accepting donations:

Habitat for Humanity

Salvation Army Thrift Store

Yonge Street Mission

Once Upon a Child

Canadian Diabetes Society

Jessie’s Centre

reBOOT Canada

Books4Families

Red Door Family Shelter

Learn who’s accepting what & how to arrange donations…

Toronto has been ranked among the five most expensive cities for real estate in the entire world. A new report which looks at average income versus housing prices, found that housing affordability worldwide continued to deteriorate throughout the pandemic. Toronto scored 9.9, compared to the worst offender, Hong Kong, which scored 20.7, Vancouver was ranked second at 13.0, followed by Sydney 11.8, Auckland at 10.0 and San Francisco at 9.6. Other stats have shown you now need to have an annual income of at least $178,499 to afford to enter the Toronto market, with the average price for a detached home in the city now more than $1.5 million…

The spoils of pandemic wealth have added billions to Canadian households and to their total wealth unexpectedly during this past year. In every province, net worth is on the rise. About two-thirds of the average wealth gain came from rising home values, with the rest owing to a surge of savings. It’s a situation that bears little resemblance to past recessions. Disposable income is up sharply, home prices have never been higher and stock markets erased their losses months ago…

What can we say, the GTA housing market is on fire! Home sales rose 52.5% across the board. With February stats out this week, the 905 regions are seeing a surge and the average selling price rose to $1,045,488, the first time it has exceeded the million-dollar mark. Detached houses in the 905 communities surrounding Toronto experienced a particular surge. They sold for nearly 30% more this February compared with the same month last year. The Toronto Real Estate Board is warning that the already hot pandemic market is poised to become more competitive as the year goes on…

Buyers are spending more money on home purchases in several major Canadian cities, even as the COVID-19 pandemic causes layoffs and income reductions across the country. The Canada Mortgage and Housing Corp. said Thursday that home sales have shifted toward more expensive housing types in Vancouver, Toronto, Ottawa, and Montreal in recent months. Expensive homes are outselling modestly priced houses and condos. High unemployment among lower income workers, coupled with fewer immigrants, has diminished demand for more moderately priced homes. The higher income households are continuing to manage and cope with the pandemic, have kept their jobs and their salaries are increasing, so demand at the higher end of the market probably reflects this…

More than two-thirds of Toronto condo investors are planning to sell their properties rather than pay the new vacant home tax, according to a new Toronto Regional Real Estate Board (TRREB) report. Toronto City Council voted to create an implementation plan for a vacant homes tax in the city which would take effect sometime in 2022. The tax would encourage owners to sell or rent out their vacant properties, which would increase housing supply, the City of Toronto said in a news release. Those who do not would need to pay the tax, and proceeds would go toward building new housing supply…

This week the Toronto Regional Real Estate Board (TRREB) released its annual Market Year in Review & Outlook Report for 2021, projecting optimism for a booming Greater Toronto Area (GTA) real estate market in 2021. The report forecasts near-record sales numbers of 100,000 units, with average selling prices expected to break records and exceed the $1 million mark…