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Real Estate News from Popular Ontario Counties

By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Toronto Market Slips in the Month of July 2016Let’s have a look at the average price of a single family property in the GTA. This includes both Toronto (the 416) and the suburbs (the 905), across all types of housing, being detached, semi-detached, townhouses and condominium apartments.Most of th...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
GTA Market Shows Movement to the Suburbs in July 2016The Toronto Real Estate Board released its mid-month report for July 2016.Here it is:“JULY 2016 TREB MID-MONTH STATISTICSGreater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-o...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial bond yields   CMB         GoC         Floating rateinsured cost of funds 5 Year - 1.15%*Canada housing 12/15/21 [-0.03]       5 Year - 0.68%CAN 0.75 03/01/21 [-0.02]       0.94%                      [-]                                              10 Year - 1.70%Canada housing 09/15/2...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
No Witness on the APS – What Can You Do? (Ontario) Question: The Lender is pressing for someone to witness the Buyer’s signatures on the Agreement of Purchase and Sale. What can I do? Answer:You really can’t push some of the Lenders.If they are “old school”, they will simply become annoyed if you...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Fixed term best preferred rates & posted rates as of July 20, 2016 6 mos                                 3.10%         3.14%1yr                                     2.29%          2.89%2yr                                     2.14%          2.84%3yr                                     2.24%        ...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Toronto Market Up 22.64% in First Six Months (2016) For those who are following the market, here is a list of the average prices for single family homes in the GTA (Greater Toronto Area) in 2015 and for the first four months of 2016, as reported by the Toronto Real Estate Board. 2015January      ...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
What is the Purpose of a Witness?Just last year the rules were changed when it came to real estate contracts. Electronic signatures were allowed. Parties could “sign” digitally from their own computers and these deals were “legal”.The problem is that the witness is often missing. There’s no one e...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 2.89% 2.29% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.20% Fixed 4 Year 3.89% 2.44% Fixed 5 Year 4.64% 2.39% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.20% Prime Rate 2.70% Benchmark Rate 4.64% Cost per ...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Spousal Consent in Ontario – The “Real Life” AnswerQuestion:Spousal consent - Would a non-title spouse sign the spousal consent at the time of signback, or only at acceptance? If the buyers end up signing the confirmation of acceptance, does the non-title spouse still sign?Answer: In real life, t...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Spousal Consent in Ontario – The Textbook AnswerQuestion:Spousal consent - Would a non-title spouse sign the spousal consent at the time of signback, or only at acceptance? If the buyers end up signing the confirmation of acceptance, does the non-title spouse still sign?Answer:Assuming that the p...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Toronto Market Up 16.8% in a Year (June 2016) For those who are following the market, here is a list of the average prices for single family homes in the GTA (Greater Toronto Area) in 2015 and for the first six months of 2016, as reported by the Toronto Real Estate Board. 2015January             ...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Agent Fails to Discover Parking Pads Legality and Terms of Mutual DrivewayThis is an interesting situation. Fred Flintstone took a listing of a property but failed to check the records, failed to check the prior listings, failed to look at the title documents, failed to look at the survey and fai...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial bond yields   CMB         GoC         Floating rateinsured cost of funds 5 Year - 1.12%*Canada housing 12/15/21 [+0.04]       5 Year - 0.64%CAN 0.75 03/01/21 [+0.05]       0.94%                      [-]                                              10 Year - 1.66%Canada housing 09/15/2...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 2
Terms Posted Rates Preferred Rates VRM 2.50 % 2.05 % 1 year closed 3.29 % 2.09 % 2 year closed 3.09 % 2.04 % 3 year closed 3.39 % 2.24 % 4 year closed 3.89 % 2.39 % 5 year closed 4.49 % 2.39 % Prime 2.70 % 2.70 %  
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 2.99% 2.29% 2 YEARS 2.84% 2.14% 3 YEARS 3.39% 2.24% 4 YEARS 3.89% 2.39% 5 YEARS 4.64% 2.49% 7 YEARS 5.30% 2.99% 10 YEARS 6.10% 3.59% Rates are subject to change without notice. OAC E&OE  Prime Rate 2.70% 5 yr variable 2.30%
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 2.89% 2.29% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.20% Fixed 4 Year 3.89% 2.44% Fixed 5 Year 4.64% 2.39% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.20% Prime Rate 2.70% Benchmark Rate 4.64% Cost per ...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Commercial bond yields   CMB         GoC         Floating rateinsured cost of funds 5 Year - 1.04%*Canada housing 12/15/21 [-0.02]       5 Year - 0.54%CAN 0.75 03/01/21 [-0.03]       0.94%                      [-]                        10 Year - 1.59%Canada housing 09/15/26 [-]       10 Year - ...
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Terms The Bank Preferred Rates 1 Year 2.84% 2.79% 2 Years 2.79% 2.34% 3 Years 3.39% 2.49% 4 Years 4.09% 2.59% 5 Years 4.79% 2.69% 7 Years 5.85% 3.39% 10 Years 6.09% 3.89% VIRM 2.70% 2.15% The prime rate is 2.70%
By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Comments 0
Toronto Market Cools Off in June 2016We have had a red hot market for quite some time so it’s good to see that things are finally starting to cool off. Sales are down and prices are down.These are the monthly numbers just released 6 July 2016 by the Toronto Real Estate Board:Monthly SalesMay     ...
By Kathy Clulow, Trusted For Experience - Respected For Results
(RE/MAX All-Stars Realty Inc. Brokerage)
Comments 0
Uxbridge Market Update Median Sold Price This Month $733,000 Average Sale Price This Month $850,910 Median Sold Price Last Month $740,000 Average Sale Price Last Month $751,308This past month there were 69 new listings and 48 residential sales reported by the Toronto Real Estate Board for Uxbridg...

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