Here’s a strange anomaly for you: Even though more homes were for sale this April compared to one year ago, home prices were up by as much as 24.5 per cent that month compared to a year earlier.

If you’re still in the market for a house you may have noticed that significantly more homes – 33.6 per cent to be exact — were for sale last month compared to April of 2016. But the greater supply did little to stem the upward flow of the city’s house prices, according to figures released by the Toronto Real Estate Board (TREB).

Based on TREB data, the average cost of a home in Toronto climbed to nearly $921,000 last month, up almost $200,000 from last April’s average house price of $739,762.

April also saw sales nudge down by 3.2 per cent compared to a year ago, a sign, say some, that the Toronto real estate market is finally cooling off.

Any which way you look at it, more listings will inevitably signal a positive note for the Toronto real estate market, says a TREB economist.

“It was encouraging to see a very strong year-over-year increase in new listings,” said Jason Mercer, director of market analysis. “If new listings growth continues to outpace sales growth moving forward, we will start to see more balanced market conditions.”

Still, the board is not expecting any downturns in home prices. In fact, Mercer says the spring and summer months will see the growth of house prices well above the rate of inflation.

A greater housing supply could be a reaction to the market’s big year-over-year price jumps and the province’s newly implemented Fair Housing Plan, though it’s too early to tell.

Another indicator that the market is cooling showed in sales of detached homes, which slipped slightly from March to $1,205,262 from $1,214,422. Semi-detached homes also dipped a bit last month, while condo prices increased by 4.3 per cent.

In today’s scorching hot real estate market it’s easy as a buyer to become discouraged as each house you love gets lost under a pile of bids that come in at ridiculously high sums over the asking price.

Take comfort knowing that there are situations, though rare, where it’s not always about the top dollar for the seller. An American couple made international headlines in March when they opted to sell their Oakville home for $150,000 less than the highest bidder thanks to a heartfelt letter they received from the buyers.

The Sohs, a family of six with four children between 9 and 14, told the sellers that the family had returned changed from a six-week missionary trip to Africa, where they visited slums and taught in village schools. Returning to their 3,600-square-foot home, the Sohs realized the space was too large. They decided they would sell their current home and find something cheaper so the family could use the money saved for good works.

Here is some of what they wrote:

‘Our desire is to downsize and live simply so others may simply live,’ they wrote. ‘The gift of your home would allow us the freedom to do more mission trips and it would free up more of our finances to take care of the poor and needy and build His Kingdom. This would also allow us to further build in our children what has been planted in their hearts, to love those in need more than the things of this world.’

They are trading in 3,600 square feet for a home of 1,983 square feet.

The home, in original condition on a pool-sized, pie-shaped lot, was listed for $789,000. The Sohs paid $200,000 over asking. They were one of 14 offers on the property.

The Crofts, who now live outside of Denver, said they wanted to sell their home to a family who would treasure the community they lived in for 15 years. They had a dollar figure in mind that would make for an easy move and purchase of a home in Colorado. They don’t see taking less money as a loss. “When that number was met, we thought, ‘What’s enough? What’s the point?’” Michelle Croft told the Toronto Star.

Adding a personal touch to an offer is nothing new in Toronto real estate. And while it seems like a lot of extra work, it may just be worth the effort. Work at winning over the seller but please be authentic because most people can smell phoney baloney claims, lies and insincerity.

Be creative and original. Tell the sellers what you love about their home and how you plan to enjoy it. Introduce them to your family. Include a photograph, as the Sohs did.  If writing is not your thing, consider introducing your family and your story to them via video. Who knows? Your story may just give you the added edge.

There is nothing like springtime to get motivated about working in the garden. The birds are singing, the air is fresh and mild, the sun is shining. Signs of rebirth are all around you.

And nowhere do you see our unbridled passion for the outdoors more than in our garden, flower bed and landscaping displays. But some of us tend to go overboard, spending piles only to learn over time that certain plants don’t grow in certain areas or the flowers on that Weigela are the wrong colour. At the other end of the spectrum, there are folks who think that lone boring hedge sitting next to the front steps is a big contribution to the world of horticulture.

There’s a happy medium somewhere between the two extremes. So let’s take a look at those common mistakes made by home gardeners and see if we can work to avoid them this year:

Don’t Be A Quick-Change Artist

Try to live in your house for a full year before making any big changes to the lawn and gardens. It takes a complete year to realize what your plants, shrubs and trees look like in bloom and whether you want to keep move or discard them.

Not Planning Ahead

Earmark 10 to 20 per cent of your budget for construction of a new addition for landscaping. Sadly, construction can eat up your total budget with gardens and landscaping looking like a sad afterthought. If you can’t afford another expense right now, plan garden beds and landscaping in phases.

While you’re at it, draw up a blueprint of your garden plan. Include patios, out buildings and pools in addition to trees, bushes and flowers that are best suited for your soil and climate. Get advice from your local garden centre or hire a landscape designer to help with your plan.

Ignoring Soil Health

Adding supplements to your soil will save you time and money in the long run.  Add in peat moss which helps with water drainage in clay soil and helps sandy soil retain water. In new gardens add two or three inches of organic matter such as compost or manure to the top 12 inches of soil. Be sure to add mulch to your flower beds and gardens. Mulch keeps your soil cool and retains water.

Overwatering

If you’re an enthusiastic gardener you may be guilty of this oversight. Plant roots will drown if sitting in water as, like humans, they need air to survive. If your plant is wilting, though getting plenty of water, that may be the culprit. Leaves will turn brown or yellow and feel soft to the touch with too much water.

Too Little Watering

You are better to water less often but thoroughly. Shallow watering is a common mistake made especially by those who use a handheld garden hose. In this scenario, the top of the plant and the dust and dirt on the leaves gets washed off but little water goes to the roots. This will cause shallow roots which results in plants toppling over and wilting because their roots haven’t grown deeply into the ground which anchors them and lets them draw water from deep in the soil.

Incorrect Pruning

According to Mark Cullen, almost anything can be pruned in the fall without worry of harming the plant. But that rule gets a little dicey when it comes to flowering shrubs. Prune fall flowering shrubs such as Rose of Sharon in the fall. Early flowering shrubs like forsythia should be cut back in late spring or early summer after they have bloomed. Prune perennials in spring but keep sturdier flowers as a food source for birds and visual interest through the winter. Roses are typically trimmed in spring.

Planting sun lovers in shade or vice versa

Those info tags in plants at the garden centre are there for a purpose. Please read them. Though the information is sparse they tell you whether the plant thrives in sun, shade or a combination of the two.

Imagine a world in which space was abundant and economical. There are parts of the world where that exists and there are parts of Toronto where that can also exist but for some reason we mainly fail to notice it.

Living in laneways is something of a foreign concept in North America. Underused and underappreciated, city laneways are being touted as the next best thing when it comes to residences and commercial locations especially in those neighbourhoods in which real estate has grown prohibitively expensive.

City councillors promoting the concept say laneway housing could provide secondary suites or the equivalent of basement apartments with the difference being they would be situated in garages on laneways, according to the Toronto Star. They would naturally be serviced with hydro, gas and plumbing from the primary home. And just like living in a basement suite, calls for emergency services or pizza delivery would be made to the primary dwelling’s street address.

According to Now magazine, the city has approximately 2,400 laneways stretching about 300 kilometres through downtown corridors between city streets.

But building a laneway house in Toronto is not easy and approvals are handed out on a case-by-case basis. The good news is that the complicated process is likely going to change soon thanks to Ontario Housing Minister Chris Ballard. Efforts to make laneways more of a reality in Toronto have been stepped up thanks to a memo Ballard sent last year to every Ontario municipality demanding the implementation of secondary suites.

Advocacy group Lanescape is joining forces with sustainable city-building non-profit Evergreen and Councillors Ana Bailão and Mary-Margaret McMahon to amend city bylaws and loosen restrictions on the development of laneway houses, says Now.

According to Lanescape, here are some advantages to laneway housing:

1. An increase in the quality of affordable rental housing
2. Intensifies neighbourhoods in a way that preserves character, form and scale of built environment
3. Uses existing infrastructure
4. Affords increased animation and activity in laneways, enhancing pride of place

Since 2009, Vancouver has been home to over 500 laneway homes. Ottawa has recently launched a laneway housing policy and Regina is close to doing so also.

If restrictions are eased in Toronto, the city could see the addition of thousands of low-rise rental units mainly in desirable downtown neighbourhoods.

Tough on dirt and soft on Mother Nature is how you’ll want to tackle indoor and outdoor spring cleaning this year if being kinder to the environment is on your bucket list.

Besides dumping VOCs and phosphates back into the water system which creates health and environmental hazards, another good reason to use green products is that they are easy on your wallet. Green cleaners such as vinegar, baking soda and borax are inexpensive when compared to store-bought brand-name cleaning products.

Using green products is also simpler.  There are eight products that will clean just about anything. In addition to the three already mentioned stock up on hydrogen peroxide, lemon juice, olive oil, castile soap, and washing soda.

House Exterior – For some exteriors all you need is water and a pressure washer. Be careful though. Scale back the pressure when using on masonry and vinyl because full-blast water can get in behind the vinyl and loosen mortar from stone and bricks. Another sure-fire method calls for a bucket and mild soap. Rinse with your water hose.

Driveways – Watch the type of cleaning products used since chemicals can end up in the local water supply. Use organic, biodegradable soaps. Using a street-sweeper style broom and hosing down dirt and dust regularly should do the trick. For oil stains try super absorbent materials such as cat litter, sand or sawdust. Simply cover the stain and let sit for a few days then sweep away.

Windows – Eliminate the use of paper towels by using a clean, lint-free soft cloth or sponge. Try cleaning your windows with baby shampoo or vinegar and water. Window screens can be cleaned in a shower or tub or outdoors. Spray gently and use a soft bristle brush to reach small spaces. For stubborn dirt, use mild soap and water.

Patios & Decks – If your metal lawn furniture is looking dirty, try a mixture of warm water, hydrogen peroxide, a squirt of natural dish soap and a scoop or borax. Spray, let stand for 15 minutes then scrub and rinse. Mold occurs regularly if you’re not super diligent about covering your furniture. Mix one teaspoon of tea tree oil for each cup of water. Test it on the back of a cushion and if it’s okay spray on the moldy areas. The oil will kill the mold and there’s no need to wipe it off.

No Waste – Aiming for a no-waste clean is a smart move for those wanting to reduce their carbon footprint. So ditch the use of paper towels, Swiffer cloths and disposable mops. Try instead microfiber cloths and sponges, brooms and a reusable mop.

The 3 Rs – Did you forget what they are? Go through your house with a fine-tooth comb, especially those spots that accumulate junk: attics, basements, spare closets and drawers. Chuck it or better yet donate it. Of course, you can always reuse things. Think you’d like to turn those old teacups into a pretty planter? Go right ahead. The idea here is to save you from buying more stuff. Finally, the third R, recycle. This is your final option once you’ve exhausted the first two.

Spring cleaning can be done without harming your health and the planet. These are sustainable baby steps, to be sure, but imagine the collective pay off.

Sources: www.bobvila.com, www.treehugger.com, www.sparkpeople.com

Know Thy HELOC

What makes Home Equity Lines of Credit (HELOC) so attractive for so many is that these credit lines are so abundant, so cheap and so easy to get.

As house prices continue to rise, a HELOC can be a great option for cheap and easy money to fund home renovations, consolidate debt or pay for pricey post-secondary educations. But don’t approach these loans carelessly. There are still things to consider when borrowing against the equity in your home.

According to the Globe and Mail, for many Canadians, HELOCs have replaced credit cards as their number one source for borrowing. Outstanding balances on lines of credit hit $266-billion in March of 2015. According to Statistics Canada, they were just $35-billion in 2000 and $100-billion in 2005. Today, HELOCs comprise 59 per cent of Canadians’ non-mortgage personal debt.

Major banks generally offer home equity lines of up to 80 per cent of the equity in a home. And some lending thresholds automatically increase with each mortgage payment creating a growing credit source potential.

Credit counsellors caution that home equity lines of credit allow people to borrow sums far greater than ever before. And since most financial institutions require payment only on the interest of the credit lines, the principal can grow quickly over time.

They worry what will happen to debt-ridden Canadians should interest rates rise or if the economy goes south. Some say events far less catastrophic such as an illness or decline in the housing market could ruin highly indebted Canadians.

According to the CBC, homeowners could face big problems with interest rate hikes as the increases would apply to variable-rate lines of credit and mortgages. If interest rates jumped by two or three per cent, those who pay only interest on their lines of credit would see payments jump by a whopping 50 per cent.

More Pros of HELOCs:

• The money is cheap cheap.
• The money is flexible as you can borrow as much or as little of what you need up to your limit.
• ou can pay off any time in full without penalty
• – HELOCs offer the lowest possible payment and flexible payment plans, including an interest-only option.

Cons:

• It’s easy to borrow more than you initially intended.
• It’s much harder to switch a HELOC to another lender without paying legal fees.
• HELOC rates are not fixed. They can always be arbitrarily increased by the lender, even if the prime rate doesn’t change.
• Lenders can reduce your HELOC borrowing limit for any reason, even if you have a perfect repayment history. This may happen when you carry a large balance and continually rack up debt and/or make only small payments. It may happen more if home prices start falling or unemployment starts rising notably.
• Title insurance fees can be higher on a HELOC than on a regular mortgage.
• HELOCs are more difficult to transfer to a new property. It’s common to have to discharge or pay them off completely.
• There can be a negative impact on your credit score if you borrow a large percentage of your approved HELOC limit.

You may have read the story about that vacant home in the city’s west end that’s been empty for more than 25 years. Neglect and suffering centre on that tale of woe but that’s not the kind of unoccupied homes we’re talking about here.

Newly released 2016 Census numbers from Statistics Canada show that 99,236 homes in Toronto are not regularly occupied. Again, that’s nearly 100,000 dwellings in the city that are left empty for the most part. These numbers are identified by the owners of the residences.

According to Better Dwelling, this represents 4.5 per cent of all homes in the city, and a 10.5 per cent change over the past 5 years. The general population grew by 4.5 per cent during the same period, which means this trend appears to be accelerating.

A large part of the city comes in with dwelling vacancies under five per cent. However, a few concentrated areas skewed up the numbers such as the Concord area of Vaughan, which showed unoccupied dwellings at 35.27 per cent.

The downtown averaged higher than the rest of the city. South of Bloor Street, east of Roncesvalles Ave. and west of Yonge Street showed an average of 8.79 per cent unoccupied. King St. West, also known as the fashion district, showed 21.81 per cent or 3,316 units not regularly occupied, while the stretch going up Yonge Street also had a higher than normal concentration compared to the rest of the city.

While you might think foreign buyers are responsible for the vacancies, remember that the numbers comes from census takers, who are Canadian residents and not offshore investors. Some believe owners are using their properties for short-term rental uses such as the type you might list with Airbnb or a pied-a-terre. Still others believe they are owned by speculators who are waiting for the right time to sell.

According to the Census released in February, Canada is home to 1.3 million temporarily unoccupied residences. That’s enough to house 3.2 million people. The Toronto numbers have tripled since the 2001 census. They are followed by Montreal and Vancouver.

But it is smaller cities, towns and rural areas that lay claim to having the most empty homes percentage-wise with St. John’s, Saskatoon, Halifax and St. Catharines leading the pack.

In 2015, Paris implemented a tax that has since tripled to 60 per cent on vacant dwellings. And last year, Vancouver issued an empty home tax aimed at making properties available for lease in a city that has near-zero vacancy rentals.

Throughout history when a scapegoat can be conveniently blamed for something negative it’s human nature to point a finger. When that scapegoat is foreign, even better goes the thinking. Far-off culprits are much easier targets thanks to distance and unfamiliarity.

Could that thinking be behind the GTA’s high house prices?

It depends who you talk to. For some time, foreign investment in real estate has been blamed for the rising cost of housing in the Toronto real estate market. Fuelled in large part by the Vancouver market, offshore investors were slapped there last year with a 15 per cent tax. The result of which has been a big drop in foreign buying.

So the question is, is the same true of the GTA market? The Toronto Real Estate Board (TREB) recently released new research refuting that theory. The TREB information showed that fewer than five per cent of the 113,133 residential real estate transactions in 2016 involved foreign buyers. The data showed that more than half were buying homes for themselves or family members. According to a November Ipsos survey of TREB agents, about 25 per cent of the homes purchased by non-Canadians were rental investments.

Despite calls for a foreign buyer tax like the one in Vancouver, TREB believes such a move would be misguided. Should a 15 per cent foreign buyer tax be implemented in the GTA, TREB fears the move may hike real estate prices outside of the GTA, where the tax doesn’t exist. It also warns that such a tax could reduce the already limited supply of rental housing and discourage immigration to the GTA.

But not everyone buys the TREB findings. Some say the TREB figures are not a true picture of foreign ownership in the GTA because the numbers don’t account for new construction sales, which could up the figure from TREB’s estimate of 4.9 per cent by another five to 10 per cent.

The Vancouver tax seems to have worked. In January, sales were down about 40 per cent from the same time last year. But Ontario Premier Kathleen Wynne has said that the province will not follow British Columbia’s move to introduce a tax on foreign homebuyers.

Meanwhile, don’t look for price relief in the near future. TREB reported that the average home price in the GTA skyrocketed at the end of 2016. The average home price hit $730,472 in December, which is a 20 per cent increase compared to December 2015. Prices are estimated to rise again substantially in 2017 with hikes in the neighbourhood of 10 to 16 per cent.

1. Inventory, what inventory?

Your home will be the belle of the ball in the current market which is crying for stock. It’s pretty simple economics: when supply is low, with high demand, you are in the most enviable driver’s seat imaginable. Given the bevy of buyers on the market, competition for your house will be fierce. So worries about keeping your home ship-shape for weeks or months on end while strangers roam through need not concern you.

2. Mortgage rates

Too bad there wasn’t a crystal ball that could tell us what was coming. For years, forecasters have been crying about a rise in interest rates and rightly so. They really don’t have much room to go the other way so up seems a likely option. The question is when? When rates rise it will impact consumers’ buying power. Putting your house on the market while rates are low is a smart move as more buyers will be attracted to your property than if rates rise a point or two. More interest means more competition and more competition usually always means more money for you.

3. It’s urgent

You could say that about buyers in February and March. Who else wants to trudge through snow, ice and cold, bundling up and unbundling with each new viewing? Those are some determined purchasers. Maybe they’re the result of a job transfer or an inheritance. Who knows? Just know that they’re more motivated.

4. It’s speedier

In wintertime, many of those who support the housing industry are not nearly as busy as at other times of the year. We’re talking about banks and lending institutions, mortgage brokers, lawyers, home inspectors, contractors, realtors, surveyors, architects. Finding the professional for the task or service you need will be easier and quicker now as, quite simply, they’re not as swamped.

5. House prices go up, up and away

High demand and low inventory add up to one thing: higher housing prices. That’s good news if you’re selling. Since you likely plan to buy another home, though, it may be best to sell now so that you aren’t affected by rising house prices or mortgage rates. Waiting could cost you more.

The cold winter weather traps many of us inside our homes till the first sign of spring. And being inside all that time may lead you to wonder about the quality of your indoor air.

In Canada, radon gas is something of a concern. In 2014, the CBC obtained data that showed over 1,500 homes had radon levels above Health Canada’s safety guidelines following a testing of approximately 14,000 homes across the country.

Radon is the second-leading cause of lung cancer after smoking. It’s estimated that radon is responsible for 3,000 deaths in Canada each year.

Radon is a radioactive gas created in nature that seeps into poorly ventilated basements and crawl spaces. Radon is created by decaying uranium found in soil, rock and water. Because these three elements are found in the ground, they are more likely to leach into their first point of contact which would be cellars and crawl spaces.  Radon filters into a home through cracks in the foundation and gaps around pipes.

The scary thing about radon is that it’s invisible, odourless and tasteless. The only way to know for sure if you have it is to do a DIY test or call in a professional at your own expense.

According to the CBC, recommendations that the government help fund homeowners in need of testing and cleaning up their radon issue have not been addressed. Nor has a recommendation that homes undergo mandatory tests for radon levels as a condition of sale, as is the case in several American states.

Radon gas levels are measured in units known as the Becquerel (Bq). One Becquerel is described as one event of radiation emission per second and it is minute.

The old Canadian standard considered 800 Bq per cubic metre to be a safe standard. But ten years ago following a push to tighten guidelines the federal government changed its standard to 200 Bq per cubic metre, the same level considered safe by Russia and China. The U.S. pegs its safe level at 150.

For more information or to learn more about testing for radon visit Health Canada.