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Ferocious Competition Among Home Buyers in 2020!

Monday Feb 10th, 2020

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The first round of 2020 data for Toronto’s real estate market is in and by all accounts, the year is shaping up to be one of ferocious competition among home buyers. The Toronto Regional Real Estate Board (TRREB) reports that the growing supply-and-demand gap that characterized the 2019 market was strongly evident in January, as soaring sales and plunging new supply light a fire under home price growth. A total of 4,582 transactions occurred across the GTA during the month, up 15.4%... [read more]

Rashida's Corner - March Market Update

Thursday Mar 14th, 2019

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  No real surprises in the market, approximately the same number of sales as last February, 5,025, with approximately the same number of listings, 13,284, which is less than 3 listings for every sale, making it an overall “sellers” market as buyers have few choices when purchasing a home. While this is an average number, the reality is that homes over $1,000,000 are experiencing a balanced or even a buyer’s market depending on location. A balanced market is... [read more]

Rashida's Corner

Sunday Feb 04th, 2018

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2017 was an interesting year for the Toronto real estate market.   It was a roller coaster ride of activity, the highs and lows brought about by government’s decisions to try to slow down home prices increases utilizing negative policy changes.   Record sales in the first quarter of the year were followed by a decline in demand in the spring and summer, as home buyers adopted a wait and see attitude towards purchasing as the Ontario Fair Housing Plan (FHP)... [read more]

Rashida's Corner - December Market Update

Sunday Dec 10th, 2017

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Well, though I hate to admit it, I was wrong!  I predicted 6,500 homes sold in November when in fact there were 7,374, making November 2017 one of the best Novembers in HISTORY!!  The reason for this is simple, the government announced changes to the mortgage qualifying rules commencing January 1 2018, and a lot of buyers jumped into the market to make sure that they qualified under the old criteria.  This resulted in stronger than usual sales and that trend will continue in... [read more]

OSFI Unveils New Stress-Test Rules

Wednesday Oct 25th, 2017

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Canada’s banking regulator today unveiled the final changes to its mortgage underwriting standards—Guideline B-20—that will further tighten lending standards and affect borrowers and lenders alike. The most wide-reaching change announced by the Office of the Superintendent of Financial Institutions (OSFI) is the establishment of a new minimum qualifying rate, or “stress test,” for borrowers making a down payment of more than 20% of the home’s... [read more]

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