The November 2024 market snapshot for the Greater Toronto Area (GTA) paints a picture of a market in transition. With interest rates starting to decline, the dynamics of buying, selling, and investing in real estate are shifting. Lower borrowing costs could breathe new life into a market that has already shown resilience. Here’s my take on what these trends mean for you. A Market Poised for Growth The GTA saw 21,818 active listings and 5,875 homes sold in November, with homes... [read more]

The latest real estate stats are in! Here’s a quick look at the GTA market in October: From the October 2024 Greater Toronto Area market snapshot, a few notable trends stand out: Overall Market Stability: The average home price across the GTA is at $1,135,215, indicating a balanced market with relatively stable prices. Homes are staying on the market for about 27 days, suggesting consistent buyer interest but no significant rush. Variation by Property... [read more]

If you’re exploring the possibility of buying a new home, you’ve likely come across the term “mortgage stress test.” But what exactly does it mean, and why is it important? Let’s break it down to understand its significance. What is a Mortgage Stress Test? A mortgage stress test is designed to gauge your ability to afford a mortgage if interest rates go up or your financial circumstances shift. While it might feel like an extra hurdle, understanding why... [read more]

When you’re preparing your home for sale, and need to get some repairs done, your choice of contractors is crucial. You don’t want to hire someone who pushes off the start date, or gets delayed in finishing the project. That could hold up listing your property, resulting in missed opportunities to sell. Before selecting a contractor, ask for references. Make sure to contact the references and find out if the contractor started and finished the projects n time. If there is a... [read more]

It’s easy to get mesmerized by the marble countertops, beautiful bay windows and elegantly staged furniture on a home tour, but it’s important to stay focused. When you’re taking a first look at a house, pay attention to the less exciting details such as signs of water damage and creaky floors. Another tip; it’s perfectly ok to whip out your measuring tape, open and close cupboards, and test out the faucets. Here are seven things you should look for to ensure... [read more]