As if there was any surprise, 2014 is shaping up to be another record breaking year for real estate sales in the GTA. Naturally, this is good news for those selling and downsizing, and bad news for those trying so desperately to break into the home ownership arena. Over the short term, tight supply and low interest rates will continue to play a pivotal role in price appreciation. For now however, the best entertainment continues to be the Sale Price Guessing Game as multiple offers continue to dominate the real estate landscape.....

Last week a friend remarked that his summer lasted exactly one day. He remembered that Wednesday well. It was hot and sunny. So, yeah, everyone complained about our lousy summer. In fact it was just one of the many hot topics going around the city. Naturally there was the chance of post season baseball, mayoral antics continued, and we were all bogged down in traffic. But by far, the hottest topic making the rounds was our real estate market. It appears that everyone had a story about multiple and pre-emptive offers.....

Location is important when looking for a house, of course, but consideration needs to be given not just to what neighbourhood you want to live in, but to where your new home will be in relation to work and other obligations. The costs of a commute are more than a tank of gas or a monthly transit pass — there’s auto insurance and car maintenance, subway delays and missed connections, and the stress of dealing with all of this on a daily basis. When making a purchasing decision, don’t forget to factor in the real costs of a commute....

They say that Toronto has only two seasons... Winter and Construction. We feel your pain if you are part of the daily commute. But hey it could be worse. You could be looking for a house. It seems that buyers this year just can’t catch a break. Summers are meant to calm the soul and recharge those home searching batteries and, quite frankly we thought things would slow down just a titch, but apparently we were wrong. There’s a first time for everything.....

If you've been to any big sporting event over the last ten years then you must have participated in "The Wave". The bigger the crowd, the more spectacular the visual effect. While the jumping up part is fun, there is also the other part....the anticipation...waiting for your turn to jump up again. Think of the Toronto real estate market like "The Wave". For the last three or four months it's been on its feet and now it's time to sit down. The excitement is still there however.  Now it's just waiting for the cycle to work its way around. In real estate parlance we call it "the Summer Market"......