B.C. Realtors still not allowed to openly publish home sale prices

Photo: John Barbisan, president of the Fraser Valley Real Estate Board: home sellers have a right to privacy. [Source: Vancouver Courier - August 30, 2018] Toronto real estate agents ordered to release data to general public, while it remains restricted to real estate professionals in B.C. Last week, for the first time in Canada, the general public could see exactly what any home sold for through the Toronto Real Estate Board (TREB), but that information is not permitted to be published by [...]

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Ontario’s rent and housing reform: 16 big changes, explained in charts

[Source: The Globe and Mail, April 20, 2017] On Thursday, Ontario announced it would widen its rent-control rules and take pages from B.C.'s playbook to bring skyrocketing housing prices down. Here are the highlights. Rental housing What Ontario is doing: Expanding rent control to all private rental units Introduce legislation to strengthen the Residential Tenancies Act Making sure multiresidential apartment buildings are charged property taxes at similar rates to other residential properties A $125-million program over five years “to further encourage the construction of new rental [...]

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Saving money with a semi-detached house (aka: Duplex in BC)

[Source: Moneysense.ca, February 8th, 201] For buyers dead-set on moving into a single family house, there seems to be little room to budge. The price-tag for detached urban homes is out of reach for many, but that’s doesn’t mean a move to a condo apartment is the right step. For some buyers, no amount of amenities or nearby transit stops are enough to give up on a private backyard, more living space or the freedom to renovate. Lengthy commute times be [...]

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Bought your first home? Don’t hurry the renovations

Pat Giles and his wife bought a house a year and a half ago. They’re already thinking about renovating the kitchen. A brand new kitchen is a tempting prospect, but it is neither a short nor a cheap renovation. Mr. Giles, 36, is keenly aware of this. He’s associate vice-president of real-estate secured lending with Toronto-Dominion Bank, and regularly talks about renovation financing with colleagues across Canada. He’s following the same advice he and his colleagues give to clients. “For us, [...]

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Real Estate Market Has a Record October but Headwinds Coming From Higher Rates

[Source: Financial Post, November 15, 2016] TORONTO — Canadian existing home sales reached a record level in October, data published Tuesday shows, but the market faces an increasing threat from tighter mortgage rules, which have helped send interest rates higher. The Ottawa-based Canadian Real Estate Association, which represents about 100 boards across the country, said there were 42,473 sales last month across the country, a two per cent increase from a year earlier and the best-ever showing for the month. October’s sales [...]

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First-time Home Buyers Face Stressful Economics

Source: [The Star, November 15, 2016] RBC hikes rates a day after province offers tax refund to new buyers. First-time buyers in Toronto's hot property market must be wondering when they will catch a break.  A second major bank announced Tuesday it was raising its mortgage rates — a day after the province introduced a tax refund designed to help first timers step on to the property ladder. Although the two events are unrelated and mortgage rates remain extremely low overall, housing [...]

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