New property listed in Cabbagetown-South St. James Town, Toronto C08

I have listed a new property at 103 77 Maitland PL in Toronto. See details here

Welcome to Celebrity Place!! Stylishly renovated "Garbo Suite" (851 Sq Ft as per builder plan) with an open concept modern kitchen, updated baths and an entertainer's dream living space with walk-out to a massive private terrace. The suite is flooded with with the warmth of natural light. This is a very well run and superbly cared for complex where convenience is key, being only steps to all the city has to offer. Transit, shopping, Yonge & Bloor, Varsity theatres, parks, great restaurants... who could ask for more!


New property listed in Niagara, Toronto C01

I have listed a new property at 711 90 Stadium RD in Toronto. See details here

Bright And Open Suite, Very Functional Layout. Beautifully Finished With Granite Counter Tops, Stainless Steel Appliances, Light Laminate Floors In Living Space And Warm Broadloom In The Bedroom, Juliette Balcony Looking Towards The City With View Of The Cn Tower. Excellent Location Down By The Water. Ideal For Walkers And Sports Enthusiasts. Very Easy Access To Lakeshore And The King West Area, Ttc Just Around The Corner.


New property listed in Niagara, Toronto C01

I have listed a new property at 805 18 Stafford ST in Toronto. See details here

Prime King West Village One Bedroom Private Corner Suite With Sun-Soaked South West Views From Every Room, Open Concept, Wrap Around Balcony, Huge Open Concept Cook's Kitchen, Large Principal Rooms, Wood Floors. Kitchen cabinets to be painted a neutral colour prior to occupancy. Includes Parking And Locker. Steps To Shops, Queen West, Parks, And Easy Access To Highways.


Behind the Headlines: The Truth about Toronto’s 9.5% Property Tax Surge, TRESA Turmoil, and the Countdown to Interest Rate Announcements

There’s a lot of talk about what’s happening with housing in Toronto and the real estate market in general, so here is my take on the property tax increase, TRESA, and interest rates.

It was recently announced that the city was proposing an increase to property taxes of 10.5%, or even as much as 16.5%, depending on how much help the Federal government was going to give the city. In the end, it’s understood the property tax increase will land around a 9.5% increased… still a big pill to swallow for some.

Although an almost double-digit increase sounds like a lot, it will work out to about $30 more per month for the average Toronto homeowner and likely something that most homeowners will be able to absorb. For those with variable rate mortgages currently feeling the pinch, a potential interest rate reduction later this year may save more than that.

Toronto homeowners pay some of the lowest property taxes in the region.

Here’s a good piece from the Star with come clear explanations of how property tax is calculated.

TRESA, aka the Trust in Real Estate Services Act will affect buyers and sellers. If you want to know everything about the changes, click here.

However, the one change that will affect buyers and sellers is that both sides now have the ability to have open bids. Before, in a multiple offer situation, the only person who knew the details of each offer was the seller.

I don’t have a problem with this in theory, because buyers have some protection. They can insert a clause in their offer that says if the seller discloses any details of their offer, they have the opportunity to revoke the offer within an hour of finding out that the details of their offer were being made public. I don’t know why any buyer wouldn’t want to have that clause, because even if a buyer wants their information kept secret, they can still see what’s in the other offers.

The problem is with all the options sellers have. Not only can the seller pick and choose which parts of the offers they receive to be transparent about (deposit, closing date, offer amount), they can also remove those options if they send bidders back to sweeten their offers.

One reason a seller might want to be open about the offers: the bidder with the highest offer may have a closing date that doesn’t work, which gives the seller an opportunity to give the next person in line, who’s closing date does work, the ability to match the other offer.

A disadvantage to being open could be that one bidder wants the property so badly they offer significantly more than anybody else. Without transparency, only the seller knows the difference between the top two bids. But with open bidding, a seller could receive less – the top bidder may offer only a few thousand more than the second highest.

The benefit for buyers would be the knowledge of how close their bid was and whether it makes sense for them to continue, or if they’re so far below the other offers they should drop out.

We’ll see how this plays out. The advantage of having the legislation come into effect now is, with the market being less competitive than it was, there are fewer situations with multiple offers, so it won’t be chaos across the city.

Finally, let’s talk about interest rates. Phil Soper, president of Royal LePage, doesn’t think it’ll be interest rate reductions that spur on the market, it’ll be consumer confidence that the price they pay for a home will increase. I hate to disagree but as I mentioned last month, I think even a small decrease in the overnight rate will make a difference in the volume of homes listed and sold this spring. The first announcement was on January 24 and the rate held. There will be further announcements on March 6 and April 10. My prediction is Toronto’s real estate market will rise again…. but it may be a few months before we see some serious movement.


February Festivities: Your Guide to Exciting Events and Happenings This Month

KUUMBA (Feb. 1-29)

Harbourfront Centre’s KUUMBA is Toronto’s largest and longest-running Black Futures Month festival, embracing the rich tapestry of culture, diversity and creativity through a month-long celebration of Black cultural programming.

Toronto’s Valentine Market (Feb. 3rd & 4th)

Enjoy 10,000 square feet of pure Valentine’s bliss. Perfect for couples, the area features 35 handpicked vendors, engaging activities, and automatic prize entries. Capture your memories at the many photo booths, making this market the ultimate Valentine’s Day experience.

Project X (Feb. 3rd)

Experience Project X, an immersive event showcasing diverse creative disciplines. Explore gallery pieces, enjoy performances, and browse the vendor market. Beyond creativity, it’s a networking opportunity for like-minded individuals in the creative sphere.

Sweet City Fest (Feb. 9-19)

Sweet City Fest is a festival celebrating all things SWEET. Expect shopping deals, themed vendor markets and workshops, live music nights, Valentine’s Day experiences, food and drink specials, and tons of family activities for the long weekend.

Craft Beer Fest (Feb. 10th)

Celebrate Winter at the Roundhouse Craft Beer Fest! Toronto’s biggest and baddest après-brew-ski party. Gather your pals, retro ski gear, long johns, and all the flannel you can get your mitts on.

The Winter Chocolate Show (Feb. 10th)

Enjoy a delightful day dedicated to all things chocolate! Join this chocolate-filled event featuring informative seminars, delectable bean-to-bar chocolates, innovative bars, bonbons, and passionate chocolate enthusiasts. It’s a day of tasting, talking, and indulging in the world of chocolate.

Lunar New Year Celebrations (Feb. 10th & 11th)

Welcome to the vibrant Lunar New Year celebrations in Toronto’s Chinatown for 2024! Discover the rich traditions and joyful spirit of the Lunar New Year and celebrate together in the heart of Toronto’s Chinatown.

Toronto I❤︎BEER & Taco Festival (Feb. 17th)

It’s the first ever Toronto I❤︎BEER & Taco Festival presented by Cowbell Brewing Co. and in collaboration with Fury Hot Sauce. Enjoy a fun filled day or night of beer, cider and spirits sampling, games, dancing and tacos!

Winter Stations (Feb. 19th)

Experience the enchanting Winter Stations public art exhibition at Woodbine Beach in Toronto! Each year, this unique event transforms the shoreline into a captivating outdoor gallery, showcasing imaginative art installations inspired by the winter season.