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Real Estate features Foreign Buyer Ban : What is Prohibited and Penalties? What is Prohibited The law bars the purchase directly or indirectly of residential buildings with 3 units or less, as well as single family, a semi-detached or a condo unit. The prohibition also applies to vacant land without a “habitable dwelling” zoned for residential or mixed use. Indirect purchases include purchases made through partnerships, trusts […]
Real Estate features Foreign Buyer Ban Will It Affect You? Foreign Buyer Ban ON as of  January 1, 2023 The Federal Government’s Prohibition on the Purchase of Residential Property by Non-Canadians Act will be in effect as of January 1, 2023. Who Does it Prohibit? Foreign Individuals: The Act prohibits non-Canadians from buying for two years. So if an individual is not a Canadian citizen, […]
Real Estate features Months of Inventory – The Gist During the February peak the market indicated a ballpark listing supply of less than a month. In September listing inventory increased substantially: Overall just under 4 months supply, with a low of 2.7 months in St. Catharines to about 6.3 months in Fort Erie, all others being in between. Selling within one week is virtually […]
Real Estate features Listing Price vs. Sale Price As most people know by now, real estate sale prices have taken a tumble. Over the last 6 to 7 months, the prospect of buyers competing for the same property has substantially decreased and is now down to a trickle if at all. As well, during the recent market period when competing was the norm, […]
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