Real estate prices have been in the headlines lately. Buying mania has reached our Innisfil neck of the woods over the last couple of years but I doubt foreign buyers are involved. Looking back over some figures, my property tax increased 73% in the last 16 years (an average of 3.7% per year); “market value” assessment increased by 133% (about 6.3% a year); but the current speculative market value of my property has increased about 500% (or more?) based on real estate agents’ estimates and recent home sales in the area. That’s about 10%/year compounded rate of appreciation.
We get approached about listing our home possibly once a week by mail or in person. I’m told that some real estate agents Continue reading