At the turn of the century, the average price of a home in Toronto was about $1,500.  No doubt someone was running around, uttering ominous warnings that the market had peaked.  Over the years those warning were repeated often. But the average price of a home keeps rising, making homeownership a sound investment and a tax-free nest-egg for the grey years.

In the 1980's young families were criticized for camping out in front of new home sites in order to be the first ones in the door.  At the time they were called "sheep" and "suckers" and were advised to invest in other areas.  The average sold price on the Toronto Real Estate Board in 1980 was $75,694, at the beginning of the last recession in 1990 the average price was $255,020 and the average price for the year of 2008 was $379,347.  Those young families lining up in the 80's look like pretty smart investors today.

Fact is, for the long term, owning a home remains the best investment on earth for you and your family. Yet...people still get caught up in the hype.  They want to wait to see what the budget will be or how the Bank of Canada handles interest rates. 

Such a wait-and-see attitude can still cost you thousands.  Now is still an excellent time to start you search for a new home.  The choice of homes and prices are phenomenal. 

Banks and trust companies are competing for your mortgage dollar, resulting in lower rates and greater flexibility.

Depending on who you speak to, we have been in a recession for some time now and many people are still "wait and see"?  We believe you should still take full advantage of today's market conditions? 

The best time to plant a tree was 40 years ago; The second best time is today.  Same with real estate and that holds true tomorrow, next year, or next century.

Patricia Simpson, Broker

Sherry Downey, Sales Representative