MFR Real Estate Update – November 2016

Hot Toronto Market Continues Into The Fall Season

The Toronto Real Estate Board (TREB) reported 9,902 sales in September with a large increase of 21.5% in resale transactions. The average selling price was up to $755,755 up 20.4% year over year compared to September 2015.  All four major type of properties witnessed strong annual volume and price gains as follows: (as per the Toronto Real Estate Board)

  1. Detached homes +22.1% Volume Gain +23.6% Price Gain
  2. Semi-detached homes +10.6% Volume Gain +18.8% Price Gain
  3. Townhomes +19.7% Volume Gain +21.8% Price Gain
  4. Condos +26.7% Volume Gain +9.3% Price Gain

If you are thinking of buying, selling or investing please contact me for a free consultation and receive a $25 Tim’s Card courtesy of Modern Family Realtor.

Modern Family Realtor Charity Gives Back Campaign

“We are privileged and honoured to be able to support our local community through our charity gives back campaign this Fall.” Paul Chan Founder of Modern Family Realtor.

Modern Family Realtor hits a milestone $13 million in sales! To celebrate we are donating thousands of dollars on behalf of all our followers as part of our Modern Family Charity Gives Back Campaign. Click the link below and we will donate $20 on your behalf to your favourite charity! Please share with friends and family so we can donate more to these great causes!!  #MFRealtor #GivesBackCampaign

Our Personal Journey with the 519 Community Centre in Toronto

The 519 is a special organization in our hearts that brought our family together.  They helped us out 15 years ago when I met Ewan and they assisted me in sponsoring him to become Canadian.  Then 11 years later through the Dada’s and Papa’s class the 519 provided us with the resources for us to bring our beautiful daughter Jasmine into our lives.

New Land Transfer Tax Rebate and Update on Mortgage Rates

We have some good news and bad news for first time home buyers.  On the positive note the provincial government has increased the land transfer tax rebate to first time home buyers to $4,000.  This will be implemented on January 1, 2017 and will help significantly for your closing costs.
On the negative side with bond yields going up after Donald Trump was elected President, mortgage rates are now on the rise.  Major banks like RBC and TD have already raised interest rates on their fixed term rates. Please contact one of our mortgage advisors to lock in rates before they go up higher!

As your real estate sales representative and former accountant I can assist you with any of your financial and real estate questions including creating a budget, RRSP Home Buyer’s Plan, Listing presentation, CMA, Buyer/Listing presentation and Income Taxes. Please contact me at 416-705-2444 to book a free consultation or visit our website for more information and listings at

From Your Modern Family Realtor Team – Paul, Ewan and Jasmine

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