• Larose Team
  • 18 August 2017

Every time there is an announcement about an incoming new townhouse development, people in the area may complain but very rarely would a development get turned down outright. Although there might be minor changes and revisions in order to quell people’s discontent, something eventually gets built on the land in question, and life goes on.


Dunsire Developments, the company behind a set of luxurious townhouses (see above picture) has decided to pull the plug on their development projects in Lakeview on 1041 and 1407 Lakeshore Road East. According to Ward 1 Councillor Jim Tovey, the development company sent out an email this past week citing various reasons as to why they decided to cancel the project.

Insauga reached out to two representatives from Dunsire for a comment asking them to confirm this, but they have not responded as of this writing. While Councillor Tovey was not able to forward us the email he received because of the regulations of the Privacy Act, he did call insauga to provide some comments.

It appears Dunsire lost their financing, and whoever owns the property is going to have to resell the land. That is actually quite interesting to hear, because if you check the home warranty protection website Tarion, there were no claims filed and no financial issues were being listed.


While Tovey said the existing residents in the area didn’t have much to worry about, since they’re already quite comfortably settled in, he said the people who were planning to move in literally have had their dreams of home ownership shattered. Here you had people who put in their down payments with interest for the next three years, and now they have to start the process all over again, although Dunsire did tell Tovey that everyone would be refunded their full deposits.

Tovey also opined that it was a bit of a gamble in this real estate market because provincial legislation allows developers to sell units before they get approved. Mississauga doesn’t issue developers the building permits until they get the municipal permits approved, and while that is somewhat a long process, one has to legally get that done right.

What happens if they don’t get those permits and time runs out? You get Dunsire, and now the people who paid into dreams of a new home will have to start this convoluted process all over again. It’s unfortunate, but this is just an example of the risks of entering into the rat race that is the current real estate market, and these are the challenges that a burgeoning municipality that is becoming a big urban city will face.


Source: Insauga


  • Larose Team
  • 18 August 2017

Our home of the week is a spectacular 4 bedroom lakeside executive home moments to Port Credit Village.

This immaculate private retreat, situated on a professionally landscaped lot, boasts stunning views of Lake Ontario, marble and hardwood flooring, crown moulding, skylights, wood-burning fireplaces, and an abundance of windows letting in lots of natural light. Enjoy an eat-in kitchen overlooking the water, a spacious master bedroom with a 5 piece ensuite, and a finished lower level with a theatre area and recreational space. This exceptional home boasts multiple walkouts to the scenic backyard patio, the perfect place to feel the breeze from the water and spend sunlit afternoons.

Visit our open house tour this weekend, August 19 & 20, 1-4pm
For the complete details of the listing click here

  • Larose Team
  • 14 August 2017

In 2011, myself and Marlene put together a group of several of the top real estate professionals in the GTA to meet regularly and share ideas on how to better service our clients. These are 13 of the top realtors in our industry representing all real estate brokerages covering the GTA from Burlington to Oshawa all the way north to Barrie.

This group fosters leadership in client service, develops new tools and business practices, and champions innovation and awareness in our competitive field of real estate sales.

In the 6 years we as a group have been together and moving forward we continue to share our experiences. What are the best practices in the current and ever changing real estate market that we need in our business, keeping the ONE thing in mind – our clients. From the systems we are using to guarantee the high level of service, unique value that separates our brand from the rest – market/advertising ideas and practices that expose our properties to the world with the promise of a solid return for our clients. Associating with like minded high people that think outside the box....my clients will always benefit. 

Looking back, being around the best in the industry on a consistent basis has challenged us at the Larose Real Estate team to be better everyday. Better at marketing our properties, servicing our clients and constantly find new ways to achieve the best results for you.

We have decided as a group, to share our insights with you applying our combined 250+ years of experience in the field. Here is a preview of many videos to come- we look forward to sharing more with you in the near future!

Have questions for the group? Email us at info@laroseteam.com

  • Larose Team
  • 28 July 2017

Mississauga, ON - The June Mississauga housing market stats are following the slow-down trend in the GTA as the number of unit sales decreased by 62% from 2016. On the positive side, the average sales price in June increased by 5% year over year for all property types in Mississauga. “The number of new listings continues to climb as home owners are listing their properties because they feel price growth may have peaked” says Kevin Larose of the Larose Real Estate Team. “What we are seeing now is a more balanced market with better supply for buyers which is moderating the price increases’ says Kevin. We are keeping an eye on interest rate changes and sales -to-new-listings ratios which are shifting as more listings come on the market. Also noteworthy- The Bank of Canada recently raised interest rates by 25 basis points on fixed mortgage rates. This was the first rate increase in 7 years.

The year-over-year dip in home sales we have experienced in the GTA over the past two months seems to be the result of would-be buyers putting their decision to purchase temporarily on hold while they monitor the impact of the Fair Housing Plan. ‘We are starting to see buyers get back into the market, because if you are not a foreign buyer, you aren’t affected by these changes-but by what you are reading.” We have many buyers looking to
purchase before the start of the school season. There is still a high demand for good homes in good areas.”

Toronto consistently ranks as one of the top cities in the world to live, so it’s no surprise there is such a demand for real estate here. There are more people moving to the city every year, and this number will continue to increase. Unless there are more rule changes made in the future- or interest rates increase rapidly, the Toronto housing market is just taking a brief pause before prices and activity continue to climb.
Have questions or comments? Email us at info@laroseteam.com

  • Larose Team
  • 17 July 2017

The Bank of Canada has increased its benchmark interest rate for the first time since 2010, a sign that the economy is improving enough to allow borrowing costs to rise from historic lows reached in the aftermath of the global financial crisis.

The overnight lending rate was raised to 0.75 per cent from 0.5 per cent, where it had been locked for two years as the country adjusted to the challenge that low oil prices posed for an already sluggish economy. Many economists expect the central bank to hike again this year.

When the Bank of Canada changes its benchmark rate, the move ripples through to other interest rates, including those of mortgages. With that in mind, here is a guide to how the rate hike will affect homeowners and prospective buyers.

Homeowners with fixed-rate mortgages

There is no immediate impact on payments for existing mortgages. Only when the mortgage comes up for renewal would higher rates affect payments.

The interest rate on fixed-rate mortgages is influenced by the interest rates on bonds issued by the federal government, not the Bank of Canada’s overnight rate.

But if the central bank is confident enough about the economy to start pushing the overnight rate higher, expect interest rates in the bond market to rise as well. This explains how an increase in the overnight rate can indirectly affect fixed-rate mortgages.

Homeowners with variable-rate mortgages

The interest cost on variable-rate mortgages is pegged to your lender’s prime rate, minus whatever discount you negotiated. The prime rate is in turn guided by the Bank of Canada’s benchmark overnight rate. Payments on most variable-rate mortgages will be adjusted higher in a matter of days or weeks to reflect an increase in the overnight and prime rates. (Canada’s Big Five banks raised their prime rates to 2.95 per cent, effective Thursday, following the central bank’s move.)

With some variable-rate mortgages, payments remain the same for the duration of the term. But there are adjustments going on in the background. As rates rise, more of your payment goes toward paying interest and less goes toward the principal. This will increase the amount of time it takes to pay off your mortgage unless you increase payments on renewal.

Borrowers tend to use the term “variable-rate mortgage” to describe all mortgages where rates can fluctuate during the term of the loan. However, lenders use the term “adjustable-rate mortgage” to describe mortgages where payments are reset according to changes in the lender’s prime rate. Variable-rate mortgages technically apply to those where the mix of principal and interest changes, but not the amount of the payment.

One final note: Toronto-Dominion Bank is an example of a lender that has a “mortgage prime rate,” a unique in-house rate used for pricing variable-rate mortgages. TD’s mortgage prime has been higher than its conventional prime rate. After the central bank’s hike, TD raised its mortgage prime rate by 0.25 of a percentage point to 3.1 per cent.

Prospective buyers

It could become tougher to qualify for home ownership.

Federal rules unveiled last fall require home buyers with a down payment of less than 20 per cent to “stress test” their ability to carry mortgage payments at whichever is greater: the negotiated rate in their mortgage contract or the Bank of Canada’s conventional five-year fixed posted rate.

The central bank’s rate is based on posted five-year fixed mortgage rates at Canada’s largest banks, and was most recently set at 4.64 per cent. That’s roughly two percentage points higher than many discount rates on the market.

When the Bank of Canada’s posted rate starts climbing, some home buyers will be “stress tested” at a higher rate. Joining the homeowner’s club will have a higher barrier of entry.

Even before the rate hike, the mortgage market was changing. In early July, Royal Bank of Canada raised rates by 0.2 of a percentage point for some of its fixed-rate mortgages as bond yields moved higher. Other major banks followed with their own rate increases.

The outlook

Financial markets at mid-year expected the Bank of Canada to increase the overnight rate by a total 0.5 of a percentage point in 2017, which suggests one more increase of 0.25 of a point before year’s end. This would hypothetically take the prime rate at major lenders to 3.2 per cent from 2.7 per cent before the latest rate hike. Increases in the cost of fixed-rate mortgages will depend on how high rates for federal government bonds climb.

How can the Larose Team help?

Let us connect you with our preferred lending partners to review any financial questions or concerns. Based on your real estate needs, we can discuss how this increase may affect you as a homeowner looking to buy or sell. Contact us today 905.278.7355


SOURCE: The Globe and Mail -  http://ow.ly/xJZ530dHk9Y

  • Larose Team
  • 04 July 2017

The Canada Day Parade in Port Credit had a huge turn out! We were thrilled to be a part of it and to celebrate Canada's 150th with the Mississauga community. The energy among the crowd was nothing short of amazing - a collective patriotic pride, proud to call Canada our home! Here are some of the highlights from the day.

  • Larose Team
  • 29 June 2017

Canada's 150th Birthday is just days away, and this year the Larose Team is taking part in the celebration by walking in the parade! The Team will be handing out mini flags along the route to those empty handed! We're thrilled to be a part of the big day and to be celebrating with the community. Beginning promptly at 11am this Saturday, the parade will begin at Stavebank and down Lakeshore to Seneca Ave (See map route below). The festivities continue all weekend in Port Credit at various locations, including the always amazing fireworks in Memorial Park. 

We look forward to the day and sharing with you some images & videos of the highlights!


For a full list of all the Canada Day festivities, visit: http://paintthetownred.ca/

  • Larose Team
  • 16 June 2017

Our home of the week is a spectacular 6000+ Sq Ft estate home on a one acre in prime West Mineola!

This private contemporary custom-built home features hardwood flooring, two-storey vaulted ceilings, 6 bedrooms, 7 baths, a finished lower level with a gym, in-law nanny suite, games room, and sauna. Enjoy summer night in the private backyard with award-winning inground pool, hot tub and custom deck overlooking the property. For a private showing contact Kevin today! 

Be sure to check out our amazing aerial video of the property above!

  • Larose Team
  • 09 June 2017

TORONTO, June 5, 2017 -- Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 10,196 sales through TREB’s MLS® System in May 2017 – down by 20.3 per cent compared to 12,790 sales reported in May 2016.  Sales of detached homes were down by 26.3 per cent.  Sales of condominium apartments were down by 6.4 per cent.

The supply of listings was up strongly over the same period.  Active listings – the number of properties available for sale – at the end of May were up by 42.9 per cent compared to the record low a year earlier.  The number increased considerably for low-rise home types including detached and semi-detached houses and townhouses.  Active listings for condominium apartments were down compared to May 2016.

“Home buyers definitely benefitted from a better supplied market in May, both in comparison to the same time last year and to the first four months of 2017.  However, even with the robust increase in active listings, inventory levels remain low.  At the end of May, we had less than two months of inventory.  This is why we continued to see very strong annual rates of price growth, albeit lower than the peak growth rates earlier this year,” said Mr. Cerqua.

Selling prices continued to increase strongly in May compared to the same month in 2016.  The MLS® HPI Composite Benchmark price was up by 29 per cent year-over-year.  The average selling price for all home types combined for the TREB Market Area as a whole was up by 14.9 per cent to $863,910.  Year-over-year price increases were greater for condominium apartments compared to low-rise home types.  This likely reflects the fact that the low-rise market segments benefitted most from the increase in listings.

“The actual, or normalized, effect of the Ontario Fair Housing Plan remains to be seen.  In the past, some housing policy changes have initially led to an overreaction on the part of homeowners and buyers, which later balanced out.  On the listings front, the increase in active listings suggests that homeowners, after a protracted delay, are starting to react to the strong price growth we’ve experienced over the past year by listing their home for sale to take advantage of these equity gains,” said Jason Mercer, TREB’s Director of Market Analysis.

Source: http://trebhome.com/

  • Larose Team
  • 02 June 2017

Our home of the week is one our newest listings, 1171 Sienna Street in Lorne Park's Watercolours community. This immaculate, well-designed home on a 57 x 129 ft. landscaped lot, showcases an abundance of windows, elegant finishes, and all the luxuries of a new build. Enjoy recent updates including newer hardwood flooring, an open concept living space, a gourmet eat-in kitchen with a breakfast area, a spacious master bedroom with a 5 piece ensuite and a grand backyard with multiple outdoor entertaining areas including lounges, a pavilion, and a hot tub. This is an idyllic retreat for friends and loved ones.

Enjoy all of Lorne Park’s amenities nearby, including schools, trails, and the lakeshore just moments away. 

Book your private showing today, contact Kevin at 905.278.7355