June 3, 2015 -- Toronto Real Estate Board President Paul Etherington announced 11,706 sales reported by Greater Toronto REALTORS® in May 2015. This result was up by 6.3 per cent in comparison to 11,013 sales reported in May 2014. For the TREB market area as a whole, sales were up for all major housing types. However, in the City of Toronto, where the supply of low-rise listings has been constrained, sales were down for detached homes.
“During my tenure as TREB President over the past year, it is clear to me that ownership housing remains top of mind as a quality long-term investment for GTA households. This is why, despite a shortage of listings in some market segments, we experienced a record number of sales reported through TREB’s MLS® System for the month of May,” said Mr. Etherington.
Record May transactions, coupled with a dip in the number of homes available for sale, resulted in strong price growth. The MLS® Home Price Index (HPI) Composite Benchmark was up by 8.9 per cent year over year in May. The MLS® HPI uses benchmark homes to estimate price growth. This allows for an “apples to apples” comparison of price growth that is not affected by changes in the mix of sales activity.
The average selling price for all home types combined in May 2015 was up by 11 per cent annually to $649,599. The higher annual rate of average price growth compared to the MLS® HPI Composite Benchmark points to the fact that the proportion of high-end home sales continued to be greater compared to 2014.
“Tight market conditions, especially for singles, semis and town homes in the GTA, have resulted in strong price growth regardless of the price metric being considered. With no relief so far on the listings front, expect similar rates of price growth as we move through the remainder of 2015. At this point, a number of months where listings growth outstrips sales growth would be required to satisfy pent-up demand,” said Jason Mercer, TREB’s Director of Market Analysis.
Downsize your home with the help of some expert advice.
Our children have moved out and we recently retired. Now we’re thinking about moving into a smaller home. Do you have any advice before we put our house up for sale?
Your question is timely: June is Seniors’ Month in Ontario, a time to celebrate the contributions of seniors but also a time to discuss the many life changes coming in the years ahead.
One such change is home ownership. Many people reach a point when owning a family home becomes more than they want — or can manage. And chances are, it has been a while since you’ve been in the housing market.
A lot has changed in the world of real estate over the last several years. Moreover, there seems to be an overwhelming amount of information available on the Internet about selling a home.
So, my first piece of advice to you is to plan ahead with some help and advice from experts before you jump into the market. The Real Estate Council of Ontario (RECO) is a good starting point.
RECO may not have been around when you last bought or sold a home. It is a consumer protection organization that was created by the provincial government in 1997 to enforce the rules and code of ethics for real estate professionals.
Every real estate professional and brokerage in Ontario — currently there are more than 70,000 — must be registered with RECO. You can use RECO’s search tool at the top of RECO’s website (reco.on.ca) to search for a salesperson and to verify they are registered and in good standing.
When you’ve made the decision to go ahead and sell your home, it’s a good idea to interview several candidates about their experience in your area and their approach to the selling process. Each one should be able to give you a sense of your home’s value in today’s market and provide advice about how to get the best return on your investment.
And it’s important that you ask questions. Have a candid discussion about your wants versus your needs. Make sure you understand how the sale process will work. If you don’t understand, keep asking questions until you get the answers you need.
Make sure you read and understand all of the paperwork. If anything is unclear, it’s fine to take extra time — and seek additional professional help — before you commit to an agreement. Real estate contracts, including seller representation contracts with a brokerage (often called Listing Agreements), are legally binding, so understanding all the clauses and what impact they will have is important.
An important consideration throughout the process is what downsizing actually means for you. If you’ve been in the home for a long time, even contemplating a sale can be a difficult and emotional experience. Give yourself plenty of time to come to terms with leaving your family home without the pressure of a moving date on the horizon.
There’s no question that selling the family home can be a difficult decision. That’s why it’s smart to start the discussion well in advance of the time decisions actually need to be made. Planning ahead and being informed will go a long way in making this tough task a little easier for you.
This Feels Like Home! Updated With Harwood Throughout Main Floor, Large Family Room With Wood Burning Fireplace That's Ideal For Entertaining Or Family Movie Night. Unspoiled Open Concept Basement (With Rough-In) Awaiting Your Completion. Renovated Baths. 3 Generous Bedrooms. Private, Fully Fenced Backyard. Ladies...The Master Closet Will Make You The Envy Of Your Friends! Walking Distance To Great Schools.
Spectacular Opportunity To Own This Spacious One Bedroom Condo! This Bright Unit Features A Tremendous Unobstructed Sw View, Large Kitchen With Great Counter Space Complete With Breakfast Bar, Ensuite Laundry And Open Balcony With Bbq Hook-Up. A Prime Location With Ease Of Access To Schools, Parks, Erin Mills Plaza, Shopping, Community Centre, Hwys And Transit.
Patio Stones: $15/Sq Ft
For a completely natural look, nothing beats natural stone for a patio. It costs more to install because it takes longer to lay down. Cons : Weeds growing through cracks
Stamped Concrete: $14/Sq Ft
It is concrete that is patterned and/or textured or embossed to resemble brick, slate, flagstone, stone, tile, wood, and various other patterns and textures. Cons: Cracking can occur and it is very slippery in the winter.
Composite Decks : $18/Sq Ft
Composite decking offers the beauty of wood without the drawbacks of potential corroding, splintering or termite damage. This low-maintenance decking option holds up to the temperature extremes of Canadian weather . Cons: Can get very hot in the Summer
Concrete: $9/Sq Ft
It's easy to put in and you can add exposed aggregate or even pieces of glass. The value of concrete is its price. "It’s the cheapest way to have a hard surface," And you can create any shape or size. Cons: Stains easily, cracking can become a problem.
Decks : $3000
Building a deck is a great and inexpensive way to improve the value of your home while providing a terrific location for family entertaining and fun.
Cons: Needs maintenance every 2 years
•2 tablespoons soft butter
•2 tablespoons soft blue cheese
•8 ounces fettuccine
•Zest from one lemon
•2 tablespoons chopped fresh rosemary
•Fresh ground pepper
1.Mash butter and blue cheese together with a fork
2.Cook pasta according to package directions in heavily salted water, saving a cup of pasta water before you drain.
3.Return drained pasta to pot and add cheese mixture, stirring until melted. Add just enough pasta water to make a light sauce.
4.Add rosemary and lemon zest and gently toss.
5.Serve on warmed plates with fresh ground pepper.
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