Archive for April, 2012

Buyers: Should You Have A Pre-Offer Home Inspection Done?

Should You Have A Pre-Offer Home Inspection Done? Photo

A couple of months ago I wrote a blog post asking the question, “Sellers: Should you have a pre-listing home inspection done?” (read it here).

Despite all the benefits, the reality is that some sellers opt not to have one done. Fair enough. It just means that the responsibility is in the buyer’s hands.

Buyers essentially have two options. They can submit a conditional offer and then have a home inspection done after the offer is accepted. Or they can have a “pre-offer” home inspection done before submitting an offer.

In a market like Toronto’s, where offer hold-back dates are common and multiple buyers are coming to the table, pre-offer home inspections make a lot of sense. They allow potential buyers to satisfy themselves ahead of time and to submit an offer without a home inspection condition. A firm offer carries a lot of weight and is much more attractive than a conditional one.

Continue Reading »

When Does The Spring Real Estate Market Actually Begin? (Re-visited)

By on April 12, 2012 in Condos/Lofts, Events, Houses with 0 Comments

When Does The Spring Real Estate Market Actually Begin? (Re-visited) Photo

Two years ago I wrote a blog post asking the question, “When does the spring real estate market actually begin?

Among other things, I took a look at the downtown market stats (districts C01 & C08) and found that there was an almost 80% increase in new listings in the week after Easter, compared to the week before.

Although we only have three full days of stats for the same week in 2012, I thought it would be interesting to see how they stack up against those from 2010.

Interestingly, the contrast we saw in 2010 isn’t there now and this week’s numbers aren’t looking much different from last week’s…

Continue Reading »

Toronto Real Estate Market Report: March 2012 Statistics

Toronto Real Estate Market Report: March 2012 Statistics Photo

Following is TREB’s market report for March 2012:  Greater Toronto REALTORS® reported 9,690 sales through the TorontoMLS System in March 2012. This result was up by almost eight per cent in comparison to the 8,986 deals reported during the same period in 2011.

“The GTA resale market has not suffered from a lack of willing buyers this year. Buyers have been spurred on by the positive affordability picture brought about by low mortgage rates,” said Toronto Real Estate Board President Richard Silver. “The challenge has been a lack of inventory. Many listings have attracted multiple interested buyers. Strong competition has led to annual rates of price growth well above the long-term average.”

The average selling price in the GTA was $504,117 in March – up by 10.5 per cent in comparison to March 2011.

Continue Reading »

Top