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Parent trap

July 19, 2019

Parents who live in single-detached homes in Canada's largest cities are among the most likely to have adult children living at home with them, suggests a Statistics Canada study.

The data suggest that nearly 60 per cent of Canadians aged 20 to 24 live with their parents, compared with just 41 per cent two decades earlier.

In an age of early teenage independence and easy mobility, one would assume a reversed trend would prevail, that young adults would be eager to define their identity ...
 

THE IMPACT OF MARRIAGE AND DIVORCE ON MATTERS RELATING TO REAL ESTATE BROKERAGE

July 27, 2019

Certain every-day situations in the lives of married couples may have an impact on real estate brokerage. It is important to note that the situations described in this article do not apply to common-law partners. For common-law relationships, you must refer to the rules of civil law, particularly those relating to undivided ...

Parents shouldn't place kids' names on real estate

July 26, 2019

DEAR BENNY: Twenty years ago my mother placed my name on the deed to avoid issues when she passed on. Will the IRS treat this as inherited property or consider it investment property? Did I inherit her half of the property? --Theo DEAR THEO: Why, oh why, do parents do this? For example, let's say your mother and father bought their house ...

Ottawa population to hit 1.13 million by 2031

July 17, 2019

With urban sprawl and Greenbelt development once again hot topics, the city's planning and environment committee will be asked Tuesday to approve new population projections for Ottawa. A recent staff report has forecast the City of Ottawa will have 1,136,000 people, 496,000 households, and 703,000 jobs by 2031. The Greater Ottawa-Gatineau ...

Real estate activity to cool as prices soar: Scotiabank

July 12, 2019

Last year’s comeback for Canada’s housing market will carry through early 2010 but subdued activity is on the horizon as higher prices and interest rates make property less affordable, Scotia Economics says. In a new Scotiabank report entitled “Global Real Estate Trends” senior economist Adrienne Warren said she expects strong housing demand ...

CMA - PART OF THE SERVICE

July 1, 2019

Lifestyle changes can come at you in a hurry, sometimes necessitating a move. Determining your property's value is especially difficult if you are a long time home owner. You may have made improvements throughout the years that you've simply forgotten about. The right price can be a critical part of getting that 'sold' sign and moving on to the ...

Cottage succession: Avoiding the bites and burns

June 21, 2019

Inheriting a cottage is an enviable situation. However, there are potential pitfalls that go beyond black flies and sunburns. Unexpected costs can be significant, including probate fees, capital gains tax and land transfer tax. Elaine Blades, director for estate and trust products and services at Scotia Private Client Group, says there are ...

Property prices continue to climb in Q2, says Royal LePage

May 27, 2019

Home prices in Canada are showing no indications of falling this year, a survey by Royal LePage suggests. A report by the real estate company said the average prices for standard two-story houses and detached bungalows went up 2.7 per cent in the second quarter of this year, compared with a year ago. During April to June, houses were listed ...

Making the most out of your house

May 23, 2019

Q. With the softening of the real estate market we hear there is a lot of inventory out there that no one is purchasing due to uncertainty. As a real estate lawyer do you have any tips that might make my house more marketable? A. This is actually a question more for your trusty real estate agent but I can put in my two cents. I think the most ...

Why you still need a mortgage broker

May 17, 2019

Investors are increasingly prepared to go it alone in this slower market where even the big banks are quick to whip out low rates to compete. But there are remain key reasons for using mortgage brokers. WhichMortgage.ca outlines those considerations and explains why savvy investors continue to rely on brokers and the website’s comprehensive ...
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