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NEWS DECEMBER 2014
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  TORONTO, December 4 , 2014. In October , home sales reported by Greater Toronto Area REALTORS® were up by 2.6 % compared to the same period last year. The average selling price for November 2014 transactions was up by 6.6% .


Average price by major home type in November 2014.
  416 905
Detached $935,1 $672,8
Semi-Detached $667,2 $449,4
Townhouse $503,3 $410,9
Condo $394,2 $310,2
     

Toronto is on track to see a record number of house sales this year as demand — and prices — continue to climb beyond almost anyone’s expectations, even for condos.

     
  Canadian homeowners spending $15,000 on average for home renovations
Every day a homeowner asks the question, "should we renovate and sell or sell this home as it is?" And every day a homeowner gets the renovation bug and spends thousands of dollars on their aging home only to find that they really made no profit on the work after selling.

So what do you do if selling the home is intentional and a profit essential? You need to do a serious market survey and compare your home with what is in your street and area and what they had that you don’t. If you are the best home in your street, then you have already hit the top of your market and it will be hard to predict what you will get.

In closing, your best bet is to have a serious chat with agents or the right people for advice on what is an acceptable limit for your renovation work given the area you live in. Remember, everyone out there wants to purchase a bargain. And they all hold the same opinion about freshly renovated homes; that have already been purchased and redone by someone else in order to make the profit they may be looking to make also.
     
  Want to buy a cottage?


Start by answering this fundamental questions:

1. Are you searching for a quiet escape from the city's bustle?
2. Is investment potential the reason?
3. What kind of building do you want? Do you yearn for a rustic cabin with outdoor plumbing and no electricity, or a place with all the modern conveniences?
4. How much land should surround the cottage? Is waterfront with a sandy beach essential?
5. Is the Renting a cottage an option?

Need my honest opinion about buying a cottage - just call or email...
 
  Traps to avoid when buying condos


1. Getting caught in the developer hype.
2. Believing you can sell it before it registers (on assignment).
3. Buying without motive / not having a plan.
4. Capital appreciation vs. income approach.
5. Over upgrading
Planning to invest in GTA's condo - call me for more details...