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Todor Todorov's blog
28 May 2024
Turbulent Market
The two-bedroom, two-bathroom apartment, located at 190 Borough Drive in Scarborough, comes with over 1,000 square feet of living space, an open-concept modern kitchen with granite countertops, and stainless steel appliances.
According to the listing, the building itself also comes with its fair share of amenities, including 24-hour security, a gym, pool, sauna, BBQ area, party room, and visitor’s parking.
After roughly one week on the market in February 2022, the apartment sold for $868,000, at a time when the city’s real estate market saw an uptick in demand and skyrocketing...
16 Jan 2024
2023 was the worst year for real estate in 23 years!
According to the Toronto Regional Real Estate Board, 2023 was the worst year for home sales in the Greater Toronto Area since 2000.
Just under 66,000 homes were reported sold last year in the GTA, compared to previous years which saw a higher number of sales. In comparison, annual home sales in 2021 were almost 121,712, a record number according to the TRREB. Last year, numbers are showing similarities to home sales back in 2000, as just over 58,000 homes were sold.
Notably, real estate agent Kushwant Singh says, “the Bank of Canada has increased interest rates three times in the...
13 Jun 2022
The ticking time bomb of Canadian mortgages
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If you bought a home during the pandemic, you weren’t alone; 1.4 million Canadians did the same. With mortgage rates at record lows, you may feel pretty lucky to be watching all of the increasing housing drama from the comfort of your already-moved-into living room. But before you drizzle any more butter on your popcorn, remember there could be some drama in store for you, too — just as soon as it’s time to refinance. 29 Apr 2022 Increased Rates Are Slowing The Market
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