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John Smith (not his real name) and his wife had not listed their condo when they starting looking for a single-family home. They knew house prices were on the rise and the trend was likely to continue.
They had their hearts set on a particular Toronto neighbourhood. When they found a place they loved, “We threw caution to the wind and bought that house,” he says.
Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 3,297 sales through the TorontoMLS system during the first 14 days of September 2014. This result represented an 8.3 per cent increase compared to the same period in 2013. Year-to-date sales through September 14, at 68,731, were up by 6.6 per cent compared to the same period in 2013.
Given the fact that tens of thousands of homes change hands throughout the Greater Toronto Area each year, it’s easy to forget that buying a home is a complex process to which the phrase “the devil’s in the details” aptly applies.