The biggest story in the Toronto condo market over the past 6 months has been the disparity between supply and demand. Simply put, inventory (condos available for sale) is at an all time low, and demand is at an all time high. This has been a recipe for rapid price appreciation, frenzied buying, and sellers very much in control of negotiations.
Starting July 1, 2010 Ontarians can expect to pay a harmonized sales tax (HST) rate of 13% on a long list
goods and services that were previously exempt from the 8% Provincial Sales Tax (PST). While the impact of the tax will be felt by all Ontarians, the province’s 3 million homeowners and the thousands who buy and sell a home every year will be hit particularly hard by this latest tax grab. … Continue Reading
All owners should have and maintain a comprehensive condo insurance policy to cover damage to their personal possessions as well as to their upgrades and to cover any damage that they might incur to a suite below or adjacent to theirs as a result of an accident, negligence or, as stated in a condo’s declaration or insurance by-law. This insurance should include a sufficient amount for liabilities in the event of an injury in the suite, such as if someone falls as the result of a toy left on the floor. … Continue Reading
Canadians, buoyed by a budding housing market recovery, took on more debt in June as they tapped banks for a variety of loans tied to real estate, says a report released yesterday by TD Economics.
Total bank-issued credit to households grew by 1 per cent in June from May. On a year-over-year basis, household credit increased by 9.9 per cent. … Continue Reading
Many buyers have been sitting on the fence waiting for that great deal or steal if you will, to happen. Well as I have mentioned in previous articles the so called Real Estate Crash is over and we are back to a thriving and vibrant market. So called couch realtors who get their infofrom late night U.S. television commercials urging them to buy their investors courses which supposedly shows you how to buy depressed properties with no money down and turn around and sell them for huge profits. The old adage applies if it sounds too good to be true it usually is.
The biggest story in the Toronto condo market over the past 6 months has been the disparity between supply and demand. Simply put, inventory (condos available for sale) is at an all time low, and demand is at an all time high. This has been a recipe for rapid price appreciation, frenzied buying, and sellers [...]
Starting July 1, 2010 Ontarians can expect to pay a harmonized sales tax (HST) rate of 13% on a long list
goods and services that were previously exempt from the 8% Provincial Sales Tax (PST). While the impact of the tax will be felt by all Ontarians, the province’s 3 million homeowners and the thousands who [...]
All owners should have and maintain a comprehensive condo insurance policy to cover damage to their personal possessions as well as to their upgrades and to cover any damage that they might incur to a suite below or adjacent to theirs as a result of an accident, negligence or, as stated in a condo’s declaration [...]