JULY RESALE HOUSING MARKET FIGURES - Toronto

Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 5,921 residential transactions through TREB’s MLS® System in July 2017. This result was down by 40.4 per cent on a year-over-year basis, led by the detached market segment – both in the City of Toronto and surrounding regions.

What you need to know before using an escalation clause

What you need to know before using an escalation clause - RECO Website

Escalation clauses, also known as ‘escalator clauses’, are designed to edge out competing offers by automatically raising the offer price by a pre-set amount when a higher bid comes into play. 

Kitec Plumbing Can Cause Problems

Kitec plumbing is a type of pipe that is
vulnerable to premature failure, and
REALTORS® should be aware of this
product, which may damage a home and result in
costly repairs.

Life is 'more rewarding' in the US!


It's time again for the annual "Stella Awards"!
For those unfamiliar with these awards, they are named after 81-year-old Stella Liebeck who spilled hot coffee on herself and successfully sued the McDonald's.
That's right; these are awards for the most outlandish lawsuits and verdicts in the U.S. You know, the kinds of cases that make you scratch your head. So keep your head scratcher handy.
Here are the Stellas for 2016:

Ontario's Fair Housing Plan April 20, 2017 9:00 A.M.




Ontario's Fair Housing Plan introduces a comprehensive package of measures to help more people find affordable homes, increase supply, protect buyers and renters and bring stability to the real estate market. The plan includes:
Actions to Address Demand for Housing:

REALTORS® on the move safety needs

Being a successful real estate professional means being constantly on the move - meeting with clients, looking at properties & running errands. For many REALTORS®, their car is their second home, & nowadays even a second office. Safety needs to be a priority for anyone on the move this much.

HOW TO FINANCE A HOME RENOVATION; FOR PERSONAL RESIDENCES OR FOR RESALE OR RENTAL

Renovations can mean a new kitchen, bathroom, upgrading furnace or electrical, to fully gutting the property and installing new drywall, pot lights, tiling, trim, painting, windows, doors, stairs, hardwood flooring, ceramic sinks, stainless steel appliances, roof, landscaping, finish basement, add an addition to the house, and much more.

Dear Friends, More of the same, with no end in sight!

March 2017

Dear Friend,

More of the same, with no end in sight!

That pretty much sums up the Toronto real estate market. Record level sales, record level prices as 8,014 residential homes sold in February through the Toronto Real Estate Board MLS system.

Devious tenants must be stopped from gaming system

House-gavel

Anyone interested in becoming a landlord in Ontario could learn some lessons from a recent court case which demonstrates how an unscrupulous tenant was able to live rent-free for 18 months.

Agent Disciplined ~ No Home Inspection Condition

Agent Disciplined ~ No Home Inspection Condition: The Liability of an Agent for Failure to Recommend a Home Inspection Condition in the Offer Recently, the Court of Queen’s Bench in Ne ...

IMPORTANT Changes to Toronto LTT APPROVED - Effective March 1, 2017

February 16, 2017 -- City of Toronto Council has approved changes to the Toronto Land Transfer Tax that mean additional Toronto Land Transfer Tax costs for some home buyers with a closing date on or after March 1, 2017, when it will be harmonized with the provincial LTT.

The following changes to the Toronto Land Transfer Tax were considered and approved by Toronto City Council on February 15, 2017. The changes are effective AS OF MARCH 1, 2017, for real estate transactions closing on or after this date: