Fran Lee, Broker
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Your Trusted Advisor in Real Estate

Your Trusted Advisor in Real Estate

Ontario, Canada


Nothing Great Is Ever Achieved Without Enthusiasm !



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Welcome to my web site, your source of Toronto real estate


Dear Friends,

In today's competitive real estate market, timing is everything.  Many good homes are sold before they are ever advertised. 

If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation.

Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction.

In addition, if you have any general questions about buying or selling real estate in Ontario, please contact me as I'm more than willing to help.

I don't have a PhD degree in rocket science, but I am constantly upgrading my knowledge and expertise in real estate related disciplines and languages to serve you better:

- Licensed under the "Sales Representative" category by the Real Estate Council of Ontario in 1999, and licensed under the "Broker" category since 2001 

- Recipient of RE/MAX Hall of Fame Award in 2010

- Recipient of RE/MAX 100% Club Awards (2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2015, 2016).

- Feature Agent on "Profiles of Success" Toronto East Edition 2008.

- Joined RE/MAX Crossroads Realty Inc. in December 2008, switched to Realty Associates Inc., an affiliate of RE/MAX Crossroads Realty Inc. in October 2017.

- Accredited Buyer Representative designation awarded by the Real Estate Buyer's Agent Council of the National Association of Realtors

- M ember of the Chartered Institute of Linguists designation with Diploma in Translation from English into Chinese awarded by the Chartered Institute of Linguists

Please browse my website for listings, reports and important local real estate information.



Fran Lee


Realty Associates Inc.


Cell.   416-917-6787

Office 416-293-1100


Market Update

GTA REALTORS Release June 2021 Stats

July 5, 2021

June home sales were up compared to last year, but remained below the March 2021 peak and were lower than the number of transactions reported for May 2021, consistent with the regular seasonal trend. The average selling price in June increased by double digits compared to last year as well, but the annual rate of increase moderated compared to the previous three months.

Greater Toronto Area REALTORS reported 11,106 sales through TRREB’s MLS System in June 2021 – up by 28.5 per cent compared to June 2020. Looking at the GTA as a whole, year-over-year sales growth was strongest in the condominium apartment segment, both in the City of Toronto and some of the surrounding suburbs. On a monthover-month basis, both actual and seasonally adjusted sales continued to trend lower in June.

“We have seen market activity transition from a record pace to a robust pace over the last three months. While this could provide some relief for home buyers in the near term, a resumption of population growth based on immigration is only months away. While the primary focus of policymakers has been artificially curbing demand, the only longterm solution to affordability is increasing supply to accommodate perpetual housing needs in a growing region,” said TRREB President Kevin Crigger.

In all major market segments, year-over-year growth in sales well outpaced growth in new listings over the same period, pointing to the continuation of tight market conditions characterized by competition between buyers and strong price growth. On a month-over-month basis, both actual and seasonally adjusted average prices edged lower in June.

The June 2021 MLS Home Price Index composite benchmark was up by 19.9 per cent year over year. The average selling price for all home types combined was up by 17 per cent over the same time period to $1,089,536. While price growth continued to be driven by the low-rise segments of the market, it is important to note that the average condominium apartment price was up by more than eight per cent compared to June 2020, well outstripping inflation.

- Toronto Regional Real Estate Board

Real Estate Information

City Council Approves Framework for New Vacant Home Tax and Adopts Home Energy Rating Program

July 19, 2021

This week, City Council approved the framework for a new Vacant Home Tax (VHT) and a new Home Energy Rating and Disclosure (HER&D) program. These policies are not in effect yet. As per Toronto Regional Real Estate Board's recent news release, both the vacant tax and the home energy rating and disclosure programs are not necessarily bad ideas, as long as the implementation is done right.

For the vacant home tax, TRREB has worked closely with City staff over the past months and years, calling for evidence-based decision-making to ensure that the tax meets its policy objectives of improving rental or ownership housing supply, not be viewed by the City as a revenue generator tool. We also called for appropriate exemptions to be provided, so the tax will not apply to principal residences, snowbirds, homes under renovation, and other exemptions.

On the home energy rating and disclosure program, TRREB’s position and advocacy efforts have been supportive of increasing energy efficiency, but the program has to remain voluntary for homeowners.

Vacant Home Tax – proposed to come in effect on January 1, 2022

City Council approved the proposed recommended design features to implement a new vacant home tax in Toronto. It is important to note that this tax is not yet in effect. Council has asked City staff to undergo further public consultation and report back with a final tax design during Q4 2021, including any potential modifications following public input, so that Council can consider and enable the tax by-law to be implemented on January 1, 2022.

The framework provides a definition of what a “vacant home” is, the method for declaring a property status, the percentage of the tax (proposed at 1% of the appraised value of the home), and proposed key exemptions like principal residence, snowbirds, units undergoing major renovation, owner is in care or hospital, court order is in place, etc.

In principle, TRREB is supportive of the proposed vacant home tax, as long as the prime objective of the tax as a tool is to increase housing supply by reducing the prevalence of properties left vacant. However, we remain concerned that the City might be viewing this tax as a revenue generation tool, as evidenced by a motion introduced and carried by Council stipulating that the City reserves the right to consider any potential increase to the tax rate in the future.

TRREB will continue to participate in the consultation process and provide further input before the final staff report is presented to Council in the fall, and will continue to update Members on this file.

Home Energy Rating and Disclosure program (HER&D) – proposed to come in effect in 2025

As part of the bigger Net Zero Existing Building Strategy, Council has also approved in principle, a home energy rating and disclosure program, and is asking City staff to report back to Council in Q3 2021 with a plan for a voluntary program initially (to commence in latter half of 2022) and a subsequent plan to consider making the program mandatory in 2025. As such, HER&D program is not yet in effect. Under such a program, homeowners would have an energy audit conducted on their home, receive a home energy efficiency rating, and disclose it to potential home buyers.

TRREB supports programs encouraging home energy efficiency, but strongly believes any such program must remain voluntary and optional, and should never be mandated. Ideally, it should be incorporated as part of a standard voluntary home inspection.

The City is also encouraged to focus on incentive programs that provide financial assistance or rebates for retrofits to improve a home’s energy efficiency, as such programs have been extremely successful in the past. For such programs to be meaningful and make a difference in terms of climate change and reducing greenhouse gas emissions, they cannot be tackled in isolation at a local level, but should be considered at the provincial or federal levels.

TRREB will continue to provide input to the City on this file, and will update Members as soon as further information becomes available. We will also be working with OREA and CREA to coordinate actions on this issue.


- Toronto Regional Real Estate Board

Mortgage Rates Update

August 31, 2021 


1 Year  2.79% 1.79%
2 Years 2.94% 1.54%
3 Years 3.49% 1.54%
4 Years 3.74% 1.79%
5 Years 4.59% 2.04%
7 Years 5.35% 2.84%
10 Years 5.60% 3.24%
Variable 2.45% 1.35%
Prime Rate   2.45%  

*Rates are provided by Dominion Lending Centres and are subject to change without notice. 


Mortgage Calculators


Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

The mortgage calculator below will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Required Fields
Estimate Insurance to of Cost
Estimate Tax to of Cost
Optional Fields
Receive Detailed Analysis  Receive this Detailed Analysis

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Total Loan (Mortgage) Amount:
Principal & Interest:
Homeowners Insurance:
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Total Monthly Payment:
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Total Monthly Debt Payment:
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We are using the % ratio.
Cost of House:
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Loan Value:
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Monthly Property Tax:
Monthly Condo Fees:
Cost of House = [(Monthly income x Debt Ratio) –
monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %
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