Real Estate in the News

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Royal Richmond in Richmond Hill
World Class Realty Point Brokerage exclusive offering of 12 townhomes in this new Richmond Hill development on Saturday April 9, 2016

Canada Mortgage and Housing Corp Releases Condominium Owners Survey
The annual report, focused on the Vancouver and Toronto Census Metropolitan Areas (CMAs), includes survey insights on what motivates condo purchases, how long owners hold onto their units, and the mortgage-financing profile of condominium owners whose primary dwelling is a freehold or condominium unit but who also own at least one secondary condominium unit. These households are referred to in the report as COS investors.

Why Toronto’s Real Estate Market is so Fiercely Competitive Right Now
While stories of homes receiving multiple offers is not uncommon for Toronto, the first three months of 2016 have been exceptionally competitive when compared to previous years. What’s driving the intense competition for houses in Toronto?

Toronto home sales break record
Strong March home sales figures help push Q1 transactions to record high. There were 10,326 sales in March and 22,575 sales in the first quarter, according to the Toronto Real Estate Board. Also read “GTA Realtors® Release Monthly Resale Housing Figures

Vancouver, Toronto home prices could ‘end badly,’ BMO says
“Odds are that if this kind of price growth (especially Vancouver) continues, it will end badly – but that still looks to be some time down the road,” senior economist Robert Kavic said in a research note.

Ontario planning to implement legislation to regulate home inspectors this year
Consumers rely on home inspectors to help them vet what is often the largest purchase and investment of their lives. If an inspector fails to spot an issue, that can leave the homeowner on the hook for thousands of dollars’ worth of unexpected costs. Yet in most Canadian provinces and territories, including Ontario, anyone can call themselves a home inspector — regardless of whether or not they have completed any sort of professional training.
Also read “Buyer beware: Things to keep in mind when choosing a home inspector“.

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