April 5, 2010: "What's happening in the Toronto Real Estate Market?"

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When people ask me what a Blog is all about and what they should write about in their Blogs, I say`Just answer the questions that your clients ask you`. It should be your FAQ`s or `Frequently Asked Questions`. 

Most of the questions asked of me deal with the Toronto Real Estate Market and how one can best profit from the seasonal changes that we see in the marketplace.

“What’s happening in the Toronto Real Estate Market?” is the most my often-asked question so here are some of my thoughts for April 5th, 2010: 

  1. The March breaks have ended and both Easter and Passover are coming to an end…time to diet and also time to watch lots of product finally to come in to the Toronto Real Estate Market.
  2. Interest rates may be in the rise and Buyers that are locked into committments for lower Mortgage rates will be encouraged to move forward with their purchases.
  3. Spring is here and FOR SALE signs will be popping out like Daffodils. It is a seasonal occurance!
  4. The Toronto Real Estate Market still is very strong. We are a service based economy in Toronto and not dealing with the recession that is really affecting the manufacturing centres.
  5. The HST  is coming and though it will affect new home construction over the $400,000 price range…. in the resale market, only the serives provided at the point of sale such as Moving, Commissions and Legals fees will be HSTable…

Bottom line is it should be a busy time before the summer months. Keep an eye on my web site at www.RichardSilver.com as I have some great opportunities coming up for Buyers. Feel free to contact me to sign up for 24/7  email alerts  and I will keep you informed of any new product that fits your parameters.

6 Responses

  1. Julie Kinnear

    This year is going to be a good one. We have witnessed shrinking inventory in the recent months, but it seems this phase is finally over. Some people were afraid we have a new bubble here, but that’s nonsense. With more than probable interest rate hike in June, we will expect more healthy pace. The latest CMHC report shows construction is back on track again, so all segments are heading the right direction.
    As I said, this is going to be good spring and even better summer!

    Julie

  2. karim kanji

    Richard,

    Many people in your industry are saying that the HST will “destroy” real estate.

    What are your thoughts on this?

    Karim

  3. Richard Silver

    Karim,

    The HST will be felt more in New Construction but hopefully the Builders will be able to pass through some of the deductions to the Buyers and include it in the price.

    Resale Homes are not affected but the services surrounding the Purchase will have an 8% increase.

    When the GST appeared it did have a cooling effect but within 6 months it was accepted. Let’s see what happens with the HST.

    I am just surprised that the Public has been almost silent. We’ll see if they still silent on July 2nd, 2010. They might be quite surprised!

    Thanks for your comments.

  4. toronto movers

    Not looking forward to the new HST tax beginning on June 1st.

  5. Julie Kinnear

    Agree with Richard. HST may have even slightly positive short term effect on the resale market – part of buyers will shift from new to resale homes.

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