Land Transfer Tax makes RED HOT impact on Toronto Real Estate

The sales are up? The sales are down? Prices are falling? Who says? Are there more listings?

Lets look at the details;

There were 2,081 sales of detached homes in the Toronto GTA that encompasses the Toronto real Estate Board.   In case you missed the details, 3 times as many home buyers selected a home in the 905 rather than the 416.  This same ratio continues in all categories except condos. If there was ever a more glaring example of inequity it is the ADDITIONAL Land Transfer Tax. Previous conversations; CD HOWE reports on Land Transfer Tax Impact 

Lets examine the AVERAGE DOLLARS

I am not a statistician but average means AVERAGE. The average house sale in Toronto was up 2.7% for a sale price of $ 765,000 on 502 units.  [ Before everyone gets on a TITHER on t How can people afford a house program just check out this link...   http://www.canequity.com/ontario/toronto-mortgages.htm  Average is actually $270K ]   Sales in the 905 were TRIPLE for the same period and their prices increased 6.8%

So when people say: Is the market up or down?

We can say condo prices in Toronto are down almost 5% over last year but prices have adjusted only by One Percent. Detached homes are up 4.8%  SO really there was no change at all. The number of listings has been slow to feed the demand of Toronto Home Shoppers and we will continue to see Bidding Wars.  

Ready to get started?  Teaching your child to ride their bicycle inside the underground parking garage or in the hallway is not the same as being on the street in front of your own home.

Give me a call. I'll help you pick the street.

Is there an APP for that? Problem Solving

Is there an APP for that?   Instant Problem Analysis and Solution Implementation.

So many want an instant answer.   Just plug in the variables and out POPs your solution.

It would be perfect if it worked that way.

But the solutions and variables require skill and experience, understanding the dynamic, implementation,  they need your energy. After all,  It is your life.

• Will you procrastinate? 
• How will you handle negotiating with others?
• Does your personality let you move forward quickly?
• How strong are your problem solving skills?

Financial Analysis has exactly the same restraints.

• How is this investment risky for you, but not for someone else...
• Does this have Tax implications?
• How will your ability to borrow and available credit lines be impacted?
• What is the MOST important criteria in your selection?
• What is the Absolute MUST have?

The insights I provide are from two decades of working with families to solve their housing needs. Not every solution is for everyone.  Now, as we look towards retiring in place; we need more creative solutions and up to date information from Government Programs, Tax Credits and Home Care Assessments.  I'm here to propose solutions.

It would seem that retirement is not cheapER.

I welcome your thoughts and insights.

David Pylyp