Looking back on 2017, we had many surprises in the real estate market. By the end of the year, condo sales were dominating the marketplace.Let’s look at some stats for just a moment. In 2017, the average price of a condo was up 14.4% to $504,200. Compare that to the average price of a home, which actually dropped 2.5% to $990,089. That’s quite a difference!So why are condos so hot? There are ...

We’ve all heard a lot about the new “Stress Test” that took effect January 1st. But let’s just quickly recap here: the OSFI (Office of the Superintendent of Financial Institutions) now requires that all homebuyers requesting a new mortgage prove that they can actually afford the prime rate set by the Bank of Canada, regardless of whether the mortgage rate they were quoted is lower than prime. ...

Things can be over-blown by the media and government bodies. But if I can be totally honest, I think we all just need to take a deep breath. Relax, as it truly is all okay.I may not have a crystal ball, but I have been in this business long enough to see the ebbs and flows. One thing I CAN say is this… don’t panic. Ever. You never want to make a hasty decision on the largest investment of you ...

Toronto, Canada, September 29, 2017 – The MAC Group (www.MACSuites.ca), a family-owned and operated company that offers executive furnished rentals, luxury vacation rentals, and real estate brokerage services, is pleased to announce that President Doriana Zohil-Morton was the recipient of the Member of Parliament Canada 150 Award for Citizenship.Held at the Toronto Botanical Gardens on July 1 ...

It's not just about location, location, location. It's also timing, timing, timing. With the recent increase in the Bank of Canada’s interest rate (the first one in 7 years), banks have followed with an increase to their prime rates. How does this impact real estate? Well, mainly through mortgages. But this could help cool down the housing market, too. And with rumours flying about another po ...

This may be a realtor’s mantra, but it is so for a reason. Yet this is often the most overlooked part of the selection process for home-buyers. Here are some reasons to revisit that: Amenities. Shopping, entertainment, restaurants… and the amenities to make life easier and more enjoyable. Need we say more? School district. Parents will agree with this... a good school makes all the diff ...

In April 2017 the Ontario Provincial Government put into force a Foreign Buyer’s Tax of 15%. The immediate result was an abrupt halt in the marketplace. This cooling effect didn’t last long, however, and the heat was turned back up by late May. In fact, house prices rose by 3.6% in Toronto in May (despite decreased total number of sales). The measures also seem to have had little to no effect ...

History has shown that the wealthy have invested in multiple properties… often being part of the reason they became so wealthy. Why solely invest in the volatile stock market, when you can have cash-flow positive investment properties? Everyone needs a roof over their heads, so there will always be a need for real estate. Rent it out and make money! Real estate also creates generational weal ...

Moving can be stressful, but what you don’t need is the stress of what to do when your closing dates don’t align. Here’s the great news… we have a solution! MAC Real Estate Solutions is a part of The MAC Group. Sister company, MAC Furnished Residences, is an executive furnished suites company. With suites throughout the Greater Toronto Area and beyond (all across Canada, in fact), we can fin ...

This has been a hot topic lately. The perception is that foreign buyers make up the majority of buyers in the GTA, and that this is why prices are continuing to increase. This couldn’t be further from the truth. Foreign buyers only make up a small portion of buyers. High prices and bidding wars are a result of one thing... lack of inventory. There are simply not enough houses and condos on th ...