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Archive for the 'Consumer Best Interests' Category

James Metcalfe’s February Real Estate Update

February has almost come to a close and was once again a very successful month. The average price of a resale home increased by 4.3% to an average price of $482,648. The industry saw price growth in many market segments including single-detached homes, semi-detached homes, town homes and condo apartments. This month in our newsletter we focus on personal finance and look at tax issues when selling a condo. This month in personal finance we look at the pros and cons of reverse mortgages: how they work, the advantages and disadvantages and traditional mortgages vs. reverse mortgages. When you are selling a condo (and it is not your primary residence) it is important to realize that half the profit is taxable. Read more about taxes and condo sales in this month’s Condo Corner. Returning this month as always are the ever popular pearls of wisdom. Here is a sneak peak to get you in the spirit. “The secret to staying young is to live honestly, eat slowly and lie about your age.”- Lucille Ball

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Family Time in the City

Tomorrow is Family Day! Ontario residents first started observing the family day holiday in 2008 and there are always a large number of fun, family friendly events that take place around the province and the city of Toronto during the family day holiday. In celebration of family and to help our readers enjoy the holiday Our Home Toronto has put together a list of some Family Day events happening around Toronto. These are just a few of our favourites:

1) Skating: The public skating rinks will be open including the rink at the Harbourfront which is hosting the HarbourKids Skating Festival. The festival will feature skating performances, dancing, theatre and concerts.

2) Casa Loma: Not only is Casa Loma a Toronto landmark but it also hosting a teddy bear extravaganza on Monday complete with a reading of Goldilocks and the Three Bears, tea, hot chocolate and cake. Tickets are $23 for adults and $17.50 for children.

3) Tiff Bell Light Box: The Lightbox will host a whole day of free activities from 10:00am. Arrive early so you and your family don’t miss the magic shows button making.

4) The AGO: The Art Gallery of Ontario is hosting a dance party this upcoming Family Day! For $39 for a family pass (2 adults and up to 5 children) you can also  see family films, do a scavenger hunt and even try family yoga!

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James Metcalfe’s Real Estate Update January 2013

Welcome to 2013! Another year has come to a close and January seems to be speeding by. 2012 saw the average home price increase strongly and with 85,731 homes sold in the GTA in 2012 the average homeowner made $32,000 in equity. 2012 saw an increase of 7% in the average price of a home in the GTA increasing the cost to an average of $497,298. Along with a look back at house prices in 2012, this month our newsletter takes a look at whether or not you are legally responsible to disclose the fact that you have noisy neighbors. Most lawyers say no but caution you to be truthful if you are asked direct questions about noise. Your home is your safe haven and this month in our ‘House Smart segment we look at how to test for Radon gas as well as some winter safety precautions. And, back for 2013 the ever popular Pearls of Wisdom. Here is a sneak peek: “It’s such a pity that youth is wasted on the young.” – George Bernard Shaw

James Metcalfe’s Real Estate Update January 2013 from James Metcalfe

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James Metcalfe’s November Real Estate Update in Our Home Toronto

It is hard to believe that we are already halfway through November. This month in our Real Estate Update in Our Home Toronto we find that the average price of a resale home in October in the GTA was $503,479, a +6% increase from October 2011. Townhomes saw an increase of +3% and condos remained flat at +/- 0%. The average price remains well above the rate of inflation but volume of homes sold is decreasing. This month we also discuss an important court decision regarding the question of whether or not condo corporations need to inspect the unit before issuing a status certificate (for the unit)? In this month’s look at “Personal Finance” we look at three important tips to take into consideration when evaluating adjustable rate mortgages. And as always, we have our ever popular “Pearls of Wisdom- here is a quick preview “The difference between stupidity and genius is that genius has its limits”-Albert Einstein .

James Metcalfe’s November Real Estate Update from James Metcalfe

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James Metcalfe’s Real Estate Update October 2012…In Our Home Toronto

Here is our October 2012 Real Estate Update in Our Home Toronto. September saw strong price growth versus 2011. The average price of a resale home in the GTA in September was $503,662 a +9% increase from 2011. We also saw strong growth in single detached homes (+8%), semi-detached homes (+12%), townhomes (+6%) and apartment condos (+6%). This month we also provide some ideas for decorating for the fall season including tips on rugs, lights, plants and backdrops. This month in Legally Speaking we discuss the legalities of the home inspection clause with a case from the Ontario Court of Appeal. We also provide you some tips on how to strengthen home inspection clauses from the seller’s point of view. Finally this month we provide you with some heat saving tips and the ever popular Pearls of Wisdom….here is a preview “Behind every great man is a woman rolling her eyes”- Jim Carrey

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James Metcalfe’s Real Estate Update September 2012…In Our Home Toronto

Here is our September Real Estate Update for Our Home Toronto. The average price of a resale home in the GTA in August was $479,095 a +6% increase versus the August 2011 average of $450,323. Meanwhile, the apartment condo market saw a -2% decline on a year to year basis. This month also features an article on the importance of a good home inspection…learn the six most important items to look out for during a home inspection. Also, this month…know your rights as a condo owner and the responsibilities of the condo corporation…an interesting case out of Langley BC. Once again we also return with Pearls of Wisdom…here’s a quick preview ” I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.”- Winston Churchill.

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