Reduce, Postpone or Avoid Real Estate Death Taxes

Tuesday Jun 28th, 2016

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REDUCE, POSTPONE OR AVOID REAL ESTATE DEATH TAXES Those soaring values of GTA-area homes has made it an increasingly expensive proposition to die while owning real estate. Huge probate taxes, officially known as estate administration fees and a result of astronomical prices in the overheated market, must be paid by the deceased person's estate. The average $1-million Toronto home, with a mortgage of, say, $450,000, would attract a probate tax of $9,250. Without a mortgage, the... [read more]

Toronto is Now Canada's Hottest Real Estate Market

Sunday Sep 18th, 2016

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TORONTO IS NOW CANADA'S HOTTEST REAL ESTATE MARKET Toronto and Vancouver are two of Canada's biggest cities, and also the countries two hottest real estate markets. But according to an economist at TD Bank, the Toronto market is now out-scorching the Vancouver market. As TD Bank's Diana Petramala says in the Globe and Mail the average price of a home in Toronto is up 18% since last year and we hit record sales in August. "Toronto's appreciation in average home... [read more]

Bidding Wars Erupt in Toronto's Rental Market

Sunday Sep 18th, 2016

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BIDDING WARS ERUPT IN HOT TORONTO RENTAL MARKET Looking for that perfect rental property to move into? Get ready for war. What was once unthinkable is now a reality in the City of Toronto, with bidding wars for residential rentals happening in all corners of the city. As a landlord, David Batori has seen it first hand. "We did a recent renovation on a basement apartment and we were asking $1,200 (per month) and it rented for $1,480." Batori had four people bidding on... [read more]

Household Debt Climbs to Record Levels, Driven Partly by Hot Real Estate Markets

Sunday Sep 18th, 2016

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HOUSEHOLD DEBT CLIMBS TO RECORD LEVELS, DRIVEN PARTLY BY HOT REAL ESTATE MARKETS The amount Canadians owe compared with how much they earn hit a new record in the second quarter, driven in part by the country's hot housing markets. TD Bank senior economist Leslie Preston said low interest rates have made borrowing more attractive, especially for homebuyers, and predicted the debt ratio could continue to trend a little higher in the next few quarters.  "We think... [read more]

Toronto's Housing Prices Are So Hot, Even The Cost of House Boats Has Doubled

Sunday Sep 18th, 2016

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TORONTO'S HOUSING PRICES ARE SO HOT, EVEN THE COST OF HOUSE BOATS HAS DOUBLED Soaring housing prices in Toronto have forced some home buyers to look for more affordable alternatives to the conventional detached home, but prices for one type of dwelling may be on the same boat. House boat prices in the Greater Toronto Area have doubled in the last six years, putting the average cost of a floating home in the range of the average condo.  According to the Toronto Real... [read more]

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