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NEWS MAY 2015
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  TORONTO, May 5 , 2015. Home sales reported by Greater Toronto Area REALTORS® were up by 17 % compared to the same period last year. The average selling price for transactions was up by 10% .


Average price by major home type.
  416 905
Detached $1,056,114 $729,961
Semi-Detached $727,875 $489,796
Townhouse $551,231 $448,236
Condo $407,612 $318,471
     
"“Demand for ownership housing was very high relative to the number of homes available for sale in April.
This situation is not expected to change markedly as we move through the remainder of 2015. Until we experience a sustained period in which listings grow at a faster pace than sales, annual rates of home price growth will remain strong”
     
  CMHC reveals overvaluation risk
CMHC is pointing to two Canadian cities where properties are significantly overvalued.
In its most recent market update, the Canada Mortgage and Housing Corp. says overvaluation concerns are growing in Regina and Winnipeg because prices have outstripped family incomes and supply is dangerously high because of a condo boom.
Compounding things is the growth in unsold construction starts, now at a record high. The CMHC contended, however, that builders have already been scaling back on production.
“Modest overvaluation based on national indicators reflects a variety of price conditions across the country with some centres showing more signs of overvaluation than others,” said Bob Dugan, CMHC’s chief economist. Likewise, housing market risk factors such as overheating, acceleration in house prices and overbuilding also vary by local areas and overal house conditions.
     
  Sex sells – even when it comes to real estate.

The video, produced and directed by California listing agent , shows a beautiful and unique home. However, the video opens with a nude couple in bed and suggestive lingerie strewn around the room. That couple reappears throughout the four-and-a-half-minute video, in various states of undress.

Agent, meanwhile, tells Inman News in the States that he’s received a lot of interest in the property, including from prospective buyers who admit it’s over their price range and female buyers asking if the male actor “comes with the house.”

https://www.youtube.com/watch?v=txtNLj9zbMw
 
 

Should investors be on the hook for their tenants’ bad behaviour?

Investors should be bracing for more Canadian municipalities following in the footsteps of a small university town in Nova Scotia, which is suggesting that landlords face fines if their tenants routinely ignore noise and liquor laws.

The proposed nuisance bylaw, backed by the mayor of Wolfville, N.S. (home to Acadia University) and some of the town’s councillors, has been put to the town council.

Do you know that multiple complaints do result in a letter being sent to the landlord. The city might try, if there were multiple noise violations, to get the landlord to pay. For examle In Hamilton, if there are noise complaints by a neighbor, [the police] will issue a warning and if they have to come back they will fine around $280. Who is going to pay

it owner or tenant? NOT sure then ask me!