Photo Credit: Toronto Star
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Find out how much your home is worth in Realosophy-Globe and Mail's twice a year survey, tales from the Toronto real estate market and the charming scam artist that built Roncesvalles.
Elsewhere: Land transfer taxes could cool Canada's housing market, rebuilding the American dream and Britain's small homes.
Home value survey finds rich Toronto enclaves get richer still (The Globe and Mail)
Even if your property is a downtown condo or a semi with a sagging porch, you’ve likely snagged a buyer without too much angst. Bidding wars have been frantic and tales of houses selling at outrageous amounts above the asking price escalated all through the spring.
“Demand was insanely strong all year right up until the summer,” says John Pasalis, president of Realosophy Realty Inc. and the collector of the data.
High bidding in High Park and other tales of the Toronto real estate market (The Globe and Mail)
“I think we were all shocked,” he says of the reaction to the final price. Mr. Sarbadhikari contacted a few interested agents the next day to let them know the result. “Not a single one said, ‘Oh, I thought it would go for that.’”
Toronto’s real estate market is now leading in something else (Financial Post)
A study from Oxford Properties, a subsidiary of the Ontario Municipal Employees Retirement System and one of the largest landlords in Canada, finds the city is leading the pack in LEED certified buildings.
Condo developer hit with $29 million class-action suit (Toronto Star)Now a frustrated Toronto condo owner has launched a $29 million class-action suit over a relatively small, but potentially dangerous, issue — wildly fluctuating water temperatures in a Charles St. highrise project that are being blamed on the installation of improper water valves.
You may know a handsome old apartment building about halfway down Roncesvalles in Toronto’s west end. You may know the nice brick gates across from it that open onto the wide and expansive High Park Blvd. It’s not so likely however that you’d know that this old apartment was once two storeys shorter and was the headquarters of York Loan — a national financial scam. But it was, and here’s how it happened.