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2016
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The Real Estate Cycle in the GTA (2007 to July 2016)One of the best ways to see what is happening in the real estate market is to look at a chart. It’s visible and now you can easily spot the trends and see the cycles repeating themselves.This chart was put together by a friend and colleague Rick...
08/10/2016
Terms The Bank Preferred Rates 1 Year 2.84% 2.29% 2 Years 2.79% 2.24% 3 Years 3.39% 2.49% 4 Years 4.09% 2.39% 5 Years 4.79% 2.49% 7 Years 5.85% 3.39% 10 Years 6.09% 3.69% VIRM 2.70% 2.20% The prime rate is 2.70%
08/10/2016
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July 2016 Holds Steady Pace for GTA Real EstateYou might be interested in what’s going on in the real estate market. Actually, prices are going down. Don’t tell anybody. No one wants to hear that.So, let’s have a look at TREB’s recently released report.:“Strong July Price Growth TORONTO, ONTARIO,...
08/09/2016
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Valid Listing Contract or Not? Question: Seller signs listing with signature date of August the 5th with commencement date of August 10th for MLS.Seller now decides that he doesn't want to list it. Is this still a valid contract? Answer:The Listing Agreement is valid.It’s just that one of its t...
08/08/2016
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 2.99% 2.29% 2 YEARS 2.84% 2.14% 3 YEARS 3.39% 2.24% 4 YEARS 3.89% 2.39% 5 YEARS 4.64% 2.49% 7 YEARS 5.30% 2.99% 10 YEARS 6.10% 3.59% Rates are subject to change without notice. OAC E&OE Prime Rate 2.70% 5 yr variable 2.30%
08/08/2016
Remedies of Leftover Junk on Closing (Ontario)Question:We are now closing for our buyer client on a home sold "as is" in early March. In the agreement we did not include any clause to the effect that the home would be free of personal items etc.In the first buyer visit, buyers were concerned that...
08/07/2016
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 2.99% 2.29% 2 YEARS 2.84% 2.14% 3 YEARS 3.39% 2.24% 4 YEARS 3.89% 2.39% 5 YEARS 4.64% 2.49% 7 YEARS 5.30% 2.99% 10 YEARS 6.10% 3.59% Rates are subject to change without notice. OAC E&OE Prime Rate 2.70% 5 yr variable 2.30%
08/07/2016
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Meaning of “Obiter Dicta” (Ontario Law) The latin expression "obiter dicta" means "by the way". It is a collateral remark made by a Judge in the reasons for judgment. It is a "side remark" or "comment". It is not part of the actual decision. It is a "passing statement" or "observation". The essen...
08/07/2016
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The Meaning of "Ratio Decidendi"When it comes to the interpretation of any case, understanding the components of the decision will be necessary. We will have a look at two cases dealing with the law of disclosure and the use of the Seller Property Information Statement.However, we have to look at...
08/07/2016
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Meaning of “Stare Decisis” (Ontario Law) When we look at two recent cases on the law of disclosure, we need to examine the meanings of stare decisis, ratio decidendi and obiter dicta. Otherwise it will be difficult to appreciate the fine distinction in the two cases and their applicability in la...
08/07/2016
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