King township has experienced close to a 50 per cent price drop in a three-month period

King township has experienced close to a 50 per cent price drop in a three-month period

Those selling their homes in the township of King, Ontario will not be getting what their neighbors received just earlier this year. Not even close. And realtors are asking sellers to be flexible in pricing their homes, and to stop comparing themselves to neighbors who sold at much higher prices, otherwise, their homes won’t sell. … Read more

Buyer cuts $49,000 off price of East York three-bedroom

Buyer cuts ,000 off price of East York three-bedroom

Keller Williams Portfolio Realty 26 Hopedale Ave., Toronto Asking price: $1,149,000 (May, 2022) Selling price: $1.1-million (June, 2022) Previous selling price: $768,000 (September, 2015) Tax: $4,061 (2021) Days on the market: Seven Listing agents: Irene Kaushansky and Philip Brown, Keller Williams Portfolio Realty Buyer’s agent: Samantha Marasco, Keller Williams Portfolio Realty The action Previous owners … Read more

Small townhouse outside Calgary an affordable find at $217,500

Small townhouse outside Calgary an affordable find at 7,500

2781 Chinook Winds Dr., SW., No. 7106, Airdrie, Alta. Asking price: $229,900 (May, 2022) Selling price: $217,500 (June, 2022) Tax: $1,312 (2021) Days on the market: Seven Listing agent: Bryon Howard, eXp Realty The action Inside, there is an open living and dining area, and a kitchen with a center island.eXp Realty This two-bedroom townhouse … Read more

This $2.25 million luxury home used to be a garage.

This .25 million luxury home used to be a garage.

This lot in East York used to be a dilapidated garage. Now, it’s being turned into a luxury home that can house a family. Sitting at 951b Greenwood Ave., the derelict, single-door garage caused a stir when it hit the market for $600,000 in 2019 and eventually sold for $700,000 in 2021. Now, the lot … Read more

Have Canadian home prices hit a bottom? Here are some clues

Have Canadian home prices hit a bottom?  Here are some clues

Enter “Canadian home prices” into a Google search and you’ll find endless headlines about real estate imploding. That, and 13-year highs in mortgage rates, have driven countless homebuyers to the sidelines. And many are now licking their chops, hoping to buy closer to the bottom. To do that takes market timing. Most experts discourage timing … Read more

Developers to delay building 10,000 condos in GTA as sales plunge

Developers to delay building 10,000 condos in GTA as sales plunge

Developers are expected to delay building 10,000 new condominium units as preconstruction sales plunge amid interest rate hikes. At the beginning of the year around 35,000 new condo units were anticipated to launch in the GTA. Close to 16,000 units were put on the market at the start of the year, but with fewer than … Read more

China’s economy could be dragged down by loss of confidence in property sector

China’s economy could be dragged down by loss of confidence in property sector

The loss of confidence in China’s property sector could feed into a contagion that would further drag down the Chinese economy, analysts warned. The comments come after beleaguered developer China Evergrande Group failed to deliver a promised $300 billion restructuring plan over the weekend. In filings with the Hong Kong stock exchange, Evergrande instead said … Read more

Calgary condo a hard sell with offers nearly a month apart

Calgary condo a hard sell with offers nearly a month apart

135 13 Ave., SW., No. 510, Calgary Asking price: $284,900 (May, 2022) Selling price: $275,000 (June, 2022) Tax: $1,844 (2021) Days on the market: 41 Listing agent: Bryon Howard, eXp Realty The 682-square-foot unit features a sliding door to the balcony. The action In a 14-year-old high-rise a few streets south of the Calgary Tower, … Read more

What’s next for Toronto’s housing market?

What’s next for Toronto’s housing market?

If there’s one hint that Justin Beaudoin is selling his home — a two-storey townhouse on the edge of Barrie, Ont., replete with fresh laminate floors and refurbished kitchen cabinets — it’s that the main floor is remarkably tidy. The couch cushions are plump and the surfaces lack crumbs. When a prospective buyer rings the … Read more

Sale of island fixer-upper closes as market comes to a standstill

Sale of island fixer-upper closes as market comes to a standstill

1264 Scarborough Rd., Bowen Island, BC Asking price: $649,000 (Feb. 14) Selling price: $585,000 (Feb. 25) Previous selling price: $275,000 (2005) Days on market: 11 Tax: $2,685.39 Buyer’s agent: Mary Lynn Machado, Macdonald Realty The Action The house, which was tenanted, has three bedrooms, one bathroom and a fireplace, but it’s so dated that there … Read more