Archive for February, 2015

Say Goodbye To Your Condo!

Say Goodbye To Your Condo!

 

The Toronto Star recently broke the news that Urbancorp has cancelled its Kingsclub Condominium complex on King Street West (read the article here).

In place of the condos, three towers of rental apartments are to be built instead.

What does this mean for anyone who bought a pre-construction unit in this development? Basically, they’re screwed.

Yes, they’ll get their deposits back. But all they’ll have to show in return is a measly bit of interest .

Needless to say, these buyers are nonplussed.

When I first heard the news, I immediately thought of the South Park episode referenced in the photo at the top of this blog post. (If you haven’t seen it, here’s a short clip that sums up the episode nicely).

Aaaand… it’s gone!

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January 2015 Market Stats: Infographic & Report

Infographic_JAN_Stats_FEB5_2015_final

 

Following is TREB’s market report for January 2015:

Toronto Real Estate Board President Paul Etherington announced a strong start to 2015, with robust year-over-year sales and average price growth in January.

Greater Toronto Area REALTORS® reported 4,355 home sales through the TorontoMLS system during the first month of the year.

This result represented a 6.1 per cent increase over January 2014.

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