With a recent spike in multiple offer presentations and bidding wars, how likely are your clients to get involved? A new Canadian survey conducted in March shows that one-in-four would readily take part in a bidding war, and half of this group would bid as much as 110 percent of the asking price. Furthermore, one-in-three [...]
All posts in category Real Estate News
Court Denies Realtor $11,000 Commission
Sanjay Babbar of Sutton Group – Summit Realty Inc. in Oakville was denied his claim to his $11,000 commission in a small claims court on March 27th, for failing to clearly explain the key terms of the Buyer Agency Agreement to his clients. Sanjay’s claim was that he had spent time explaining everything to Jean [...]
Posted by suttonadmiral on May 3, 2012
http://suttonadmiral.wordpress.com/2012/05/03/court-denies-realtor-11000-commission/
GTA Condo Sales in Q1 2012: Buyers’ Wait-and-See Attitude
[Originally published on Moneyville.ca on April 18, 2012: Click Here] Toronto condo price hits average of $360,892 By Susan Pigg | Wed Apr 18 2012 The record condo construction of 2011 is finally being felt across the GTA, with listings up 14 per cent in the first quarter of 2012. Last year’s record pace of condo [...]
Posted by suttonadmiral on May 1, 2012
http://suttonadmiral.wordpress.com/2012/05/01/gta-condo-sales-in-q1-2012-buyers-wait-and-see-attitude/
Average price hits the $500k mark
February 2012 Market TREB’s March 5th Market Watch revealed that the average price of a home has surpassed the $500,000 mark. According to TREB President Richard Silver, “Price growth will continue to be very strong until the market becomes better supplied.” Speaking of better supplied, new listings in February 2012 were up year-over-year by 11-percent [...]
Posted by suttonadmiral on March 24, 2012
http://suttonadmiral.wordpress.com/2012/03/24/average-price-hits-the-500k-mark/
Very Interesting Read…
[Originally published in The Wall Street Journal on August 3, 2011: Click Here] DIY Guru Gets Broker Help By Josh Barbanel A founder of a website dedicated to direct sales of homes by their owners has sold his two-bedroom apartment in Chelsea for $2.15 million—with the help of a real-estate broker and a standard 6% [...]
Posted by suttonadmiral on March 3, 2012
http://suttonadmiral.wordpress.com/2012/03/03/very-interesting-read/
Everything You Need to Know About the MLS HPI
On February 6th, TREB finally released more information about the widely anticipated MLS HPI (MLS Home Price Index). TREB, together with CREA and four other major boards across Canada developed this system together to measure home prices and home price growth in a more elaborate way than simple average. If you’ll recall, our first blog [...]
Posted by suttonadmiral on February 11, 2012
http://suttonadmiral.wordpress.com/2012/02/11/mls-hpi/
Contractual Obligations
Last month we discussed the statutory duties and obligation imposed by Ontario legislation on agents which in part govern the relationship and conduct between agents, their clients and prospective buyers and sellers. As you may recall, in addition to statutory duties, agents are subject to contractual and fiduciary duties. This month we will focus on [...]
Posted by suttonadmiral on February 4, 2012
http://suttonadmiral.wordpress.com/2012/02/04/contractual-obligations/
What to Expect in 2012
According to TREB, prices will continue to grow in 2012. TREB’s Market Watch publications now include an MOI (Months of Inventory) indicator, which shows how long it would take to sell all actively listed homes, on average, assuming an unchanged level of sales and no additional homes being listed. It is calculated by dividing the 12-month moving [...]
Posted by suttonadmiral on January 28, 2012
http://suttonadmiral.wordpress.com/2012/01/28/what-to-expect-in-2012/
November 2011 Market
According to the Toronto Real Estate Board’s Market Watch, the Fall market continued to display vitality throughout the month of November. GTA transactions were up 11-percent from November 2010, from 6,384 to 7,092. As well, new listings were up 14% year over year. The average price was $480,421, a 10-percent increase year over year. It [...]
Posted by suttonadmiral on December 17, 2011
http://suttonadmiral.wordpress.com/2011/12/17/november-2011-market/
