Derek Cormack Real Estate
2281 Kingston Rd M1N 1T8 Toronto, ON, Canada

We have seen a huge influx in our own Clients moving out of the city or looking for second property to escape to. https://www.canadianrealestatemagazine.ca//covid19-turns-c

Wondering what the future of Toronto real estate is? Well here’s an peak at the demand. The GTA tops all Canadian and US cities for population growth. https://www.thestar.com//gta-population-growth-topped-cana

A lot of people ask me what’s happening in the real estate world these days. One of this biggest changes of course, is the number of viewings of properties for sale with the stay-at-home directive because of Covid-19. This video is a quick clip of the current activity that BrokerBay, a company that manages property viewing appointment bookings and other things for some of the GTA’s largest and busiest real estate brokerages. If you have an interest in seeing the current cha...nge in the market activity and have about 5 minutes, check it out. https://vimeo.com/408193988/f294e25974

In an effort to stop the community spread of COVID-19, the Ontario government has temporarily banned Short-Term Rentals (such as Airbnb) during the pandemic. Hotels, motels and student residences are not impacted and are allowed to remain open. This was part of the updated list of essential businesses that came into effect on April 4. According to the provincial ruling, short-term rentals are only permitted for individuals who are in need of housing during the emergency peri...od. Although the language is generic and somewhat confusing as to what qualifies as individuals in need of housing, it seems that hosts of short-term rentals would not be prevented from renting their properties to long-term tenants to generate revenue, but the province is signalling that it is serious about shutting down party rentals and non-essential travel. To view the updated list of essential businesses, including the reference to short-term rentals, please check https://files.ontario.ca/solgen-oic-closure-nonessential-bu See more

The Ontario government has announced that the 2020 Assessment Update has been postponed. They have indicated that property assessments for the 2021 property tax year will continue to be based on the fully phased-in January 1, 2016 current values. This means your property assessment for the 2021 property tax year will be the same as the 2020 tax year, unless there have been changes to your property. https://www.mpac.ca/HowAssessmentWorks/2020AssessmentUpdate