One Bloor Condo Uncertainty

Will One Bloor be built or not? Who cares, except for investors who believe this will be the definitive condo in Toronto. Now that 15-20 floors are to be lopped off, if it is ever built, the project is fast … Continue reading

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IMMIGRANTS DRIVE GTA AND CONDO SALES

A recent study by Scotiabank says that new immigrants will be an important driver of the housing industry, particularly in cities such as Toronto. The study was based on information from the MOST RECENT CENSUS in 2006 which is just … Continue reading

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TORONTO HAS RECORD SALES FOR JUNE

The Toronto Real Estate Board reported record sales for June, up 27% from June of 2008. Sales were also up 14% from May. And condos outpaced these numbers. But you already knew that would happen if you had been following … Continue reading

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WHEN WILL THIS CONDO MARKET SLOW DOWN?

June will be a record month for sales this year. Multiple Offers on just about every single listing under $400,000 is the norm! When will it slow down?Summer usually is a slower time for the overall market as people take … Continue reading

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NEW CONDO MARKET SHOWING LIFE

The First Quarter of the year was nothing less than a disaster for new condo sales in Toronto. But this past week, our Company is suddenly doing sales for our clients with developers again. And on one development, Realtors actually … Continue reading

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VICTORIA DAY AND ALL QUIET ON THE CONDO FRONT

We decided to open two offices today in anticipation that agents and their buyers would be booking appointments for condos and sending messages. How wrong we were. The market is hot, and the weather is perfect for viewing – sunny … Continue reading

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NOW STOCK MARKET ANALYSTS WANT TO PREDICT CONDO PRICES

Bill Carrigan, who writes ‘Getting Technical’ in the Toronto Star is getting into the act by charting average house prices and sales-on-balance. Sales-on-balance is tracked by adding the monthly volume if the average price goes up and subtracting the volume … Continue reading

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WHAT’S THE DIFFERENCE BETWEEN NEW AND RESALE CONDO SALES?

Newspapers are desperate for negative news headlines. They think they sell newspapers?? Last week the talk was about an oversupply of condos and a massive 74% decline in condo sales in the First Quarter of the year in the Toronto … Continue reading

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AFFORDABILITY IN TORONTO’S CONDO MARKET

The Conference Board of Canada has just published a report that shows that affordability for people buying condos in Toronto is the best since 1999! Affordability was measured as the percentage of household income spent on a mortgage for the … Continue reading

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ANOTHER BIG WEEKEND FOR CONDO SALES

My last Blog talked about the weather impacting sales. This weekend promises to be ideal. Not too hot. Not too cold. Perfect for looking at condos and having a Starbuck’s or is that Second Cup. While the market still shows … Continue reading

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HOW TO BEAT THE WEATHER IN BUYING A CONDO

Tuesday at the office and the appointments are steady but not out of this world. That’s because it rained most of the day and people – read both buyers and agents don’t want to venture out. Compare this to last … Continue reading

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BOTTOM OF THE MARKET REACHED IN FEBRUARY

Buyers are waiting for the bottom of the market so that they can start buying and can get the best deal! Well we started telling people that we would only know when the bottom was reached after the fact – … Continue reading

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U.S. Foreclosures Impact Toronto Market

It is amazing that half of all the mortgage foreclosures in the U.S. are concentrated in just 35 counties. These 35 counties are located in only 12 states. Yet the impact has been felt all across the U.S. because of … Continue reading

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THE U.S. MARKET HAS LESSONS FOR US

One of the reasons why the U.S. real estate market is so weak is because there is very little mortgage money available! Americans are having trouble buying. There are all sorts of stories about people who want to snap up … Continue reading

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LONG TERM CONDO MARKET IS POSITIVE

Just about every article I read on the real estate and condo markets in Toronto deals with the short term- what is going to happen in the next month or six months? The truth of the matter is that owning … Continue reading

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UNDERSTANDING THE NEW REAL ESTATE MARKET

Recent events in financial markets have spooked people about the stock market and of course the real estate market. While everyone blames the subprime mortgage market as the primary culprit in bringing down some banks, it is surprising that economists … Continue reading

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Who are Buying Toronto Condos in Today’s Market?

Newspapers have documented the slowing of the Toronto real estate market – off about 15% from last year. Toronto condos have also recorded lower sales in 2008 – about 11% lower. Negative press has made many ‘baby boomers’ more cautious. … Continue reading

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CONDOS ARE THEIR OWN MARKET

Condo sales and prices in the U.S. have generally bucked the overall real estate market. Of course there is Miami, Las Vegas, and Phoenix where overbuilding on spec has caused a real market weakness. But what about cities like New … Continue reading

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