John Pasalis in Home Buying Tips When buyers decide to make an offer to purchase a home their real estate agent typically includes two conditions in the agreement of purchase and sale.    The condition on financing typically gives the buyer several days to arrange satisfactory financing for their purchase.  The condition on an inspection gives the purchaser an opportunity to hire a home inspector to ensure there are no major problems with the house.  If the purchaser is unable to arrange fin... Read Full Story

Bob Aaron in Legal Late last month, Toronto became the first city in North America to adopt a bylaw requiring the construction of green roofs on new developments. It comes into force Jan. 31, 2010. A green roof is a system where a vegetated area becomes part of the building's roof. It includes plant life, a growing medium, a filter layer, a drainage layer, a root resistance layer and a waterproof membrane. Under the new rules, a green roof will be required on all new buildings with more th... Read Full Story

Media Roundup Real Estate News Is Canada's housing market tanking or taking off? (National Post) Don’t believe the housing hype (Macleans) Pace of decline slows (National Post) ‘Irresistible' rates drive Canada's recovery (Globe and Mail) Denial of MLS data key to landmark suit (Toronto Star) Realtor violated listings agency rules, board says (Toronto Star) Economic News OECD says 'worst scenario' averted (Globe and Mail) They could be weeds (National Post) Converging Storms (National... Read Full Story

Bob Aaron in Legal The issue of toxic Chinese drywall may well become the biggest environmental crisis to hit North American homeowners and builders in decades. The defective Chinese drywall emits toxic hydrogen sulphide, sulphur dioxide and other gases. It is believed that humidity in the air causes the sulphur in the drywall to off-gas, or migrate into the indoor air. This creates a noxious odour, and can result in serious health conditions and illnesses, such as breathing problems, eye i... Read Full Story

Media Roundup Real Estate News Canadian home resale prices rise to record in May (Reuters) Real estate recovering, economists say (Globe and Mail) Housing prices recovering: CREA (Globe and Mail) Worst of real estate slump in Canada is over (Property Wire) Condo resales are on a roll (Globe and Mail) Pre-Approvals: A Dying Breed? (Canadian Mortgage Trends) CMHC’s 2009 Mortgage Consumer Survey (Canadian Mortgage Trends) A huge gamble on Markham Asian mall (Toronto Star) Economic News H... Read Full Story

John Pasalis in Toronto Real Estate News From the Toronto Real Estate Board's Press Release: Greater Toronto REALTORS® reported 5,185 transactions in the first half of June – an increase of 19 per cent compared to the same period last... Read Full Story

John Pasalis in Toronto Real Estate News In August 2008 we ran a poll on our blog asking readers if Toronto would be spared a major real estate correction. The Bears won the poll with 73% answering “Smart home owners... Read Full Story

John Pasalis in Toronto Real Estate News From the Canadian Real Estate Association's Press Release: ---------------------------------------------------------------------- National resale housing market activity returned to pre-recession levels in May 2009. The rebound in activity is being led by an increase in transactions... Read Full Story

Bob Aaron in Legal Sonia James learned the hard way that it's not always a good idea to sue your lawyer and blame your misfortunes on him or her. In late 2002, James signed an agreement to buy a house... Read Full Story

Media Roundup Real Estate News Too late to refinance your mortgage? (Globe and Mail) Luxury home sales hit record high in Toronto in May (CTV) Suit puts real estate fees in spotlight (Toronto Star) The dominant multiple listing service (National... Read Full Story