Spencer Group Inc., Realty Brokerage

Contact Us

Spencer Group Inc., Realty Brokerage's blog

Ontario’s Bill 184 poses risks to honest landlords, sellers and purchasers

At the risk of being chased with pitchforks, I’ll say it: Bill 184 is not an unapologetic piece of pro-landlord legislation. I say this as someone who worked and volunteered at Parkdale Community Legal Services in the landlord and tenant division. I defended tenants exclusively in and out of the Landlord and Tenant Board and, without hesitation, I assert – the ethics of the landlord and tenant are more important than any legislation.

Attention! Nearly 100 units hit the market in one Yorkville condo

And the reasons are? Building’s large number of listings possibly demonstrates the Airbnb problem.
Months into the COVID-19 pandemic that has wreaked havoc on the short-term rental industry, one Yorkville building provides a snapshot into the city’s current downtown rental market.

New condo sales drop by 85%!

The pandemic restrictions, especially in the short-rental market, hurt the real estate market quite badly.
In terms of new condo apartment sales during the second quarter — when the province was largely shut down as it grappled with the COVID-19 pandemic — a total of 1,385 units were sold in the GTA.
There was the lowest level of sales activity since the first quarter in 2009 during the recession when 885 units sold.

I live in a condo. The pool is closed. Do I still have to pay my fees?

You live in the cond complex. You pay . Do you know your rights?
Over four months have passed since COVID-19 forced people to shut down their routines in an effort to fight its spread. That has meant residential amenities such as gyms and common areas in condo buildings are not used. But condo corporations continue to collect the monthly fees associated with these facilities.
Do you still have to pay up? Is the law on your side for a refund?

New Rentals in Downtown Airbnb-Friendly Condos Grew immensely

Here is a snapshot of the recent rental market in GTA and Southern Ontario:
The economy might be gradually getting back on track, but travel and tourism are still at exceedingly low levels in Toronto and, as a result, the real estate market is starting to feel the effects.

25% of Ontario Renters Now More Likely to Buy Home Due to Pandemic: OREA

And this is unexpected turn of events.
The COVID-19 pandemic suggested the early collapse of the values of real estate.
The new safety measure may, actually, improve market activities.

COVID-19 has home buyers seeking greener pastures in the countryside

New buying habits are being developed during this pandemic.
Newly released Nanos research for the Ontario Real Estate Association (OREA) suggests home buyers are more attracted to the space and lower-density populations outside the city since the beginning of pandemic.
Among those considering a home purchase in the next two years, 61 percent of online survey respondents agreed or somewhat agreed that COVID-19 has increased their interest in suburban or rural housing.
Only 34 per cent said they were more drawn to downtown living since the public health crisis hit.

The price of your home in Toronto or GTA keeps going up and up, defying COVID crisis

These statistics defy logic. 
While all the businesses suffer the detached residential homes in Big TO just keep growing up.
Detached home values in the Greater Toronto Area have not only held their own but have seen significant gains through the first half of the year as the region’s housing shortage persists, according to a report from Re/MAX.
The average price of a house rose in 95 percent of the 65 neighbourhoods on the Toronto Region Real Estate Board’s (TRREB) Multiple Listings Service map.

Bank of Canada governor's promise of low rates could spur housing speculators

After a long, treacherous spring - lots of action in the GTA market.
We really don't know our business future, but Bank of Canada Governor Tiff Macklem reassures that interest rates will remain low for at least two years.
Such a situation could unleash a wave of speculative demand in the country’s hottest housing markets, realtors and mortgage brokers warned.
More: click on this link: 

Syndicate content

Have Questions?

By submitting this form, you are providing express consent to receive commercial electronic messages from www.spencergroup.ca. You may unsubscribe at any time.