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Are there too many condos in Toronto? Real estate wiz Brian Persaud takes on this contentious issue


The following is a guest post by Brian Persaud, a Toronto based real estate agent, investor, analyst, TV show host, producer and author of the forthcoming book "Investing in Condominiums". He is a provider of Toronto condominium information and a good friend to the folks of BuzzBuzzHome. Read more

A day at the Beach in November? You better believe it! Beach Club Lofts holding exclusive preview event this weekend [PICS]


Those temperatures won't be going back up any time soon, so a day at the beach might seem like a "strange" concept at the moment.But it's not too hard to imagine spending a day at the Beach Club Lofts, the boutique residence by Zen Homes that's only Read more

We're feeling like nobility just looking at these new renderings from The Royal Collection


When you're searching for homes in a place like King City, we're guessing you might be looking for something with a hint of royalty. Well, this project by Zancor Homes registers pretty high on the royalty scale, so high in fact, that they simply named it The Royal Read more

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MARKET

After a record setting 2011, GTA new home market set to shift into high gear

Posted on January 27, 2012 | buzzhomeblog Posted in MARKET | 1 Comment

At a media conference last week, RealNet revealed some incredible and meticulously compiled stats and then, in conjunction with BILD, held a super informative Q and A session.

You may remember our live tweetathon and blog story covering the conference (it was pretty great).

Well, RealNet’s George M. Carras is not a shy guy when it comes to the media, and this week he’s back in the limelight again.

Today he’s in The Star’s YourHome section writing about some of the highlights from the RealNet data revealed last week and providing some insight into the numbers. Read more

Teranet: Canadian home prices fall in November for first time in almost a year

Posted on January 25, 2012 | buzzhomeblog Posted in MARKET | Leave a comment

It’s been awhile since we’ve mentioned Teranet and “home prices dropping” in the same sentence.

According to Teranet-National Bank house price index data released today, Canadian home prices fell in November 2011, the first time the index declined since a brief correction during the three months ending November 2010.

The data notes a modest drop of 0.2 per cent after two months of flat prices.

The national composite index tracks registered prices of homes sold at least twice. The data indicates that prices fell in eight of the 11 metropolitan markets tracked. Read more

Let’s hear it for Calgary! Condo sells for a record breaking $8.3 million

Posted on January 25, 2012 | buzzhomeblog Posted in ALBERTA, DEVELOPMENTS, MARKET, WATER COOLER | 1 Comment

Calgary officially entered the big leagues today as word quickly spread that a luxury condo suite sold for a record $8.3 million.

Construction has yet to begin on The River, the 15 storey development that will house the 5,260 square foot, multi-million dollar suite. The super classy project is located, as its name would suggest, along the Elbow River which flows through the southern part of the city.

According to an article published in the Financial Post, “more than $30 million in real estate has been spoken for in the project, which includes 38 residences — 27 units in the tower and 11 town houses.” Read more

Straight from the Experts: All you ever wanted to know about new home purchase costs in BC

Posted on January 24, 2012 | buzzhomeblog Posted in BC, DEVELOPMENTS, MARKET | 2 Comments

Anderson Walk in North Vancouver, just one of many amazing BC developments.

The following article is a guest post by Brennan Valenzuela, a writer for Ratehub.ca, a website that allows people to compare Canadian mortgage rates. It also features a comprehensive education centre to help address common first-time home buyer questions. Ratehub is a great source for all the latest Canadian mortgage news.

“Market conditions are improving province-wide as a result of a combination of downward movement in the number of homes for sale and an upward trend in consumer demand.” - Cameron Muir, BCREA Chief Economist

The condo market in BC was buzzing last year, particularly in Vancouver where the average price of an MLS-listed high rise condo unit sat just above half a million dollars according to this Vancouver Condo Report. Multi-unit developments will continue to remain popular in 2012. Using a Vancouver condo listing search on BuzzBuzzHome, you’ll find 140 units either under construction or currently in pre-construction in the Vancouver area. Read more

More Homes for More People initiative hopes to jumpstart discussion and improve Vancouver’s housing picture

Posted on January 24, 2012 | buzzhomeblog Posted in BC, DEVELOPMENTS, MARKET | Leave a comment

There are a ton of great new developments and opportunities in Vancouver and the vast metropolitan area that surrounds it, but it’s no secret that the city has been struggling with affordability, density and a range of other issues that many growing cities face.

Yesterday we posted a story about Vancouver’s ranking as the second least affordable housing market in the world. While most folks are aware of the issues, a constructive, inclusive discussion is an essential first step to actually addressing them in an effective way.

That’s where More Homes for More People comes in. More Homes for More People is an initiative by the Urban Development Institute, an industry body representing over 550 of BC’s developers. Read more

CIBC: Toronto boasts highest economic growth among Canadian cities

Posted on January 24, 2012 | buzzhomeblog Posted in MARKET | Leave a comment

Toronto has been ranked numero uno in CIBC’s Canadian Metropolitan Economic Activity Index partially due to its booming real estate sector.

The Index, which released its third quarter 2011 report last week, measures various economic growth factors and ranks 25 Canadian metropolitan areas based on several macroeconomic variables.

Toronto topped the list, scoring a 23 in the third quarter of 2011. Edmonton followed with a score of 20 while the top five was rounded off by Kitchener, Halifax, and Vancouver. Read more

Report: Vancouver has the second least-affordable housing market in the English-speaking world

Posted on January 23, 2012 | buzzhomeblog Posted in MARKET | 1 Comment

A report released today by Demographia, a housing affordability surveyor, indicates that Vancouver has one of the world’s least affordable housing markets.

Three hundred and twenty-five English speaking metropolitan areas are examined in the worldwide survey. Cities are ranked based on their median home price relative to median pretax household income — dubbed the “Median Multiple” in the report.

A Median Multiple of 3 and under is considered affordable while 5.1 and over is “severely unaffordable”. According to the report, Vancouver’s median home price of $678,000 is 10.6 times its median household income of $63,800. Read more

RealNet reveals 2011 GTA market stats in conference with BILD. High rise sales reach record high!

Posted on January 20, 2012 | buzzhomeblog Posted in DEVELOPMENTS, MARKET, ONTARIO | 1 Comment

It was an exciting morning for housing market stats nerds across the Greater Toronto Area as RealNet Canada, a go-to source for real estate info in Canada released their strategic review of the GTA’s 2011 new home markets.

The conference saw George M. Carras, the President of RealNet, join Joe Vaccaro, the acting President of BILD and Paul Golini, the BILD’s Board Chairman, for the big reveal this morning.

Perhaps the most significant stat was divulged immediately: the GTA saw 45,926 new home sales in 2011, the second highest yearly total in the region’s history. Read more

Calgary Real Estate Board: New forecast says MLS sales and prices to rise in 2012

Posted on January 18, 2012 | buzzhomeblog Posted in ALBERTA, DEVELOPMENTS, MARKET | Leave a comment

Who does more forecasting — TV weathermen or local real estate boards?

We’re inclined to say weather folks, seeing as they do it on the daily, but we’ve been seeing a lot of forecasting coming from places like the Toronto Real Estate Board and the Real Estate Board of Greater Vancouver lately. Why even today we saw a new forecast coming from the Calgary Real Estate Board!

While sometimes you don’t want to hear what the weatherpeople have to say (they have a tendency to rain on your parade), we’re really liking what the Calgary Real Estate Board is forecasting. Read more

Buzzonomics: Flaherty ready to pounce on housing market — if necessary

Posted on January 18, 2012 | buzzhomeblog Posted in MARKET | Leave a comment

By Kiyoko Fujimura

If you’re an avid reader of the BuzzBuzzHome Blog, you might notice that we’ve been posting a lot of Buzzonomics columns lately. It’s no coincidence — there has been tons of stuff going on in the housing market over the past few weeks. Here’s the latest:

Yesterday the Bank of Canada announced that it would leave its target for the overnight rate at 1 per cent, despite worries that households are amassing too much debt.

Mark Carney has his hands tied. His job is to ensure that inflation stays within the target range of 1 – 3 per cent. Carney is not responsible for staving off asset bubbles (including the potential looming housing bubble). Read more

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