October 15, 2024
From 2023 on into 2024 history is repeating itself. 2022 as we’ve seen was a year unique unto itself. After coming off the frenzied real estate market of covid with its multiple offers and enormous price hikes, 2022 was a year of corrections. The market declined steadily from a February peak of $863,057 right down to a December low of $656,337. A drop of $206,720. Quite a drop.
October 15, 2024
In our previous article, we reviewed the obligations of home builders and the role of Tarion in protecting homeowners from losses of their deposit money and issues of delays. We will now consider the types of protections for individuals who discover issues with their home before and after closing their real estate transaction.
September 16, 2024
Purchasing a new build home is an exciting opportunity that comes with unique responsibilities for home buyers. This is particularly true when it comes to understanding the warranties and protections for your home. In this two-part article, we will review how the Ontario New Home Warranties Plan Act (the “Warranties Act”) provides warranty coverage for you and your new home.
September 16, 2024
This month marks the 2 ½ year mark since the robust real estate market of the covid era came to a halt, and what I’m going to call a real estate recession began. First with a steady erosion of prices over the balance of 2022 and a pretty rocky road since. This month also marks the third consecutive month where we have seen a 1/4 point cut in interest rates compliments of the Bank of Canada. So where does that leave us at this point?
September 16, 2024
In the last two or three issues of these Money Machine articles, we’ve taken a look at the growing problem between landlords and tenants especially when evictions, either ‘fault’ or ‘no-fault’ come into play. We’ve seen why economically tenants feel they are in the driver seat and why the Landlord and Tenant Board in many ways contributes to the problem. And while we outlined what needs to be done to remedy the problem, until changes are made, landlords need to be doubly sure that they don’t make a mistake that could have been avoided during the tenant selection process.
September 16, 2024
August 29th was a wonderful day! A mix of sun and cloud with no rain in sight. Temperatures in the mid 70’s for those of you, who like me, still think in Fahrenheit. Warm enough to be outside in shirtsleeves even on into the evening. You just never know when you get into the last week of August. Can be unseasonably warm and sunny, but it can also, on occasion, have a real chill in the air. Especially into the evening. We lucked out!
September 16, 2024
Looking to buy your first home? Thinking about making a move? Whatever your goals, when it comes to getting a mortgage, there are a few things you can do in advance to make the mortgage process easier!
August 15, 2024
Welcome to our latest newsletter! Today, we will consider the sale of land being split into one (1) or more pieces. We will review some key features of Ontario’s Planning Act and consider the distinction of when land can be sold through a legal severance and the circumstances in which a legal severance is not needed. Understanding these differences is crucial for anyone involved in real estate transaction where multiple lots are in play, whether you are a homeowner, developer, or investor. Let’s explore these concepts in detail.
As we watch the sales figures come in month by month and year by year, there are a couple of trends we need to keep in mind. The first is cyclical. What is happening seasonally? And the other is economic. What is happening overall due to market pressures brought about by interest rate fluctuations and inflationary changes?