The recent downturn in Toronto’s real estate market, brought on after Ontario introduced measures this Spring, including a foreign Buyers’ tax, is expected to be brief, the federal housing agency said Wednesday.
Property prices in the city which fell from an average of $919,589 in April to $793,915 last month, according to date from the Toronto Real Estate Board, should pick up again due to supply constraints & a good economy, Canada Mortgage & Housing Corp. said.
The provincial government’s measures, retroactive to April 21, include a 15% tax on foreign Buyers in the Greater Golden Horseshoe region, expanded rent controls & legislation allowing Toronto & other cities to tax vacant homes.
“If job creation continues in Toronto, & the economy continues to fuel the housing demand, we can expect some of the pressures on house prices in Toronto to resume,” said Bob Dugan, CMHC’s chief economist.
Today, the RE/MAX network topped 100,000 in worldwide agent count. It's an incredible moment in our 42-year history. And in reality, it's much more than that.
The fact that thousands of top producers keep joining our organization is fantastic news for every Affiliate. New members add their productivity, customer base, reputations & individual talents to the network. That brings more listings, for Sale/Sold signs, advertising, brand power, phone calls, internet traffic, referrals & more satisfied clients. The cycle continues on, as even greater results attract even more Associates.That's our foundation & history, as meaningful now as it ever was.
So at a milestone like this, I hope everyone in RE/MAX takes a minute to celebrate what we've created together: the greatest real estate network in the world. Congratulations! More.....
Let Me Help You With Your Real Estate Needs
When itís your home, your deal, your money, you want experience thatís validated. With two decades of market knowledge, Susan Macarz counsels local and international Buyers and Sellers. Whether the transaction involves a first home, luxury home, or country estate property, condominium, or pied a terre, Susan delivers sharp marketing and smart negotiating. Susanís warm personality and intuitive reading of the market trends has earned her the position of trusted real estate advisor to many. And her dedication, integrity, discretion and professionalism has past clients recommending Susan as their Real Estate Broker of choice to friends, family and associates.
Susan Macarz, Broker, with Re/Max Ultimate Realty Inc., Brokerage, is continuing to provide new & innovative ways to market your property both locally & internationally! RE/MAX is considered to be the Premier Real Estate Company in the World. From a single office that opened in 1973 in Denver, Colo., RE/MAX has grown into a Global Real Estate Network of franchisee-owned & operated offices with 100,000 Sales Representatives & Brokers worldwide. More....
HOW REAL ESTATE MARKET CONDITIONS AFFECT YOUR OFFER PRICE
LOCATION, LOCATION.... MARKETING!
A hot market is a "sellerís market". During a sellerís market, properties can sell within a few days of being listed and there are often multiple offers. Sometimes homes even sell above the asking price. Though most buyers want to get a "deal" on a home, reducing your offer by even a few thousand dollars could mean that someone else will get the home you desire.
You may have lived in your home for many years. The location factors that you considered when making your purchase decision may not apply to todayís buyers. The task is to identify the current positive aspects of your homeís location and market them aggressively. When it comes to positive locations, peopleís different attitudes and preferences will determine if a location is a ďgoodĒ one.