Fran Lee, Broker
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Ridgegate Community
Central Park on Yonge
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.

- 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 December 2021 Stats

January 6, 2022

A record 121,712 sales were reported through TRREB’s MLS System in 2021 – up 7.7 per cent from the previous 2016 high of 113,040 and up 28 per cent compared to 2020. Record demand last year was up against a constrained supply of listings, with new listings up by 6.2 per cent – a lesser annual rate than sales. The result was extremely tight market conditions and an all-time high average selling price of $1,095,475 – an increase of 17.8 per cent compared to the previous 2020 record of $929,636.

“Despite continuing waves of COVID-19, demand for ownership housing sustained a record pace in 2021. Growth in many sectors of the economy supported job creation, especially in positions supporting above-average earnings. Added to this was the fact that borrowing costs remained extremely low. These factors supported not only a continuation in demand for groundoriented homes, but also a resurgence in the condo segment as well,” said TRREB President Kevin Crigger.

One sales trend that stood out in 2021 compared to 2020 was the resurgence in demand for homes within the City of Toronto. Overall sales in the “416” area code were up by a substantially greater annual rate (+36.8 per cent) compared to sales growth for the surrounding Greater Toronto Area (GTA) suburbs combined (+23.6 per cent). The marked recovery in the condominium apartment segment was a key driver of this trend.

“Tight market conditions prevailed throughout the GTA and broader Greater Golden Horseshoe in 2021, with a lack of inventory noted across all home types. The result was intense competition between buyers, pushing selling prices up by double digits year-over-year. Looking forward, the only sustainable way to moderate price growth will be to bring on more supply. History has shown that demand-side policies, such as additional taxation on principal residences, foreign buyers, and small-scale investors, have not been sustainable long-term solutions to housing affordability or supply constraints,” said TRREB Chief Market Analyst Jason Mercer.

In December, GTA REALTORS reported 6,031 sales – a strong result historically, but still down by more than 1,000 transactions (-15.7 per cent) compared to the record of 7,154 set in December 2020. Over the same period, new listings were down by 11.9 per cent to 5,174. The MLS Home Price Index Composite benchmark was up by 31.1 per cent yearover-year in December. The average selling price was up by 24.2 per cent annually to $1,157,849.


- Toronto Regional Real Estate Board

Real Estate Information

How to fix the affordable housing crisis

January 14, 2022

The affordable housing crisis is incredibly complex and crosses all boundaries and lines of government, political parties, high- to low-income groups, societal demographic groups from millennials to seniors, health-related groups and many other definitions of need.

Despite the uninformed opinions of tenants, their advocates, some media and public housing agencies, government does not have the money to make a dent. Even the federal government’s 10-year $40-billion housing plan could generate only perhaps 18,900 units/year across Canada.

Most government solutions such as speculation taxes, banning “renoviction,” a $1-million home tax, foreign ownership taxes and so on all add cost to housing, making it more unaffordable despite political optics.

There are thousands of stories about what’s causing unaffordable housing. Rather than regurgitate symptoms and causes, the following are actionable items to create immediate and near-immediate results to alleviate housing availability and affordability. Space here doesn’t permit explanations, so contact me if you wish a fleshed-out version of these items.

  • CMHC insures public agencies (not landlords) to enter into multi-year “head lease” agreements with landlords to guarantee rent, operating costs and damage coverage if the agency can’t meet the obligation
  • Use Correctional Services to establish inmate training program for housing construction skills and trades. Use a selective labour force to construct affordable social housing while incarcerated (with conditions/limitations) or on parole
  • Lenders won’t finance affordable housing. CMHC should lower its super-conservative (exaggerated) expense allocations to make net operating income reflective of  the real-world market and substantially improve the application process
  • Provide incentives to unlock the tens of billions in residential property equity
  • Duplicate the condo-construction model for public housing. Require a reserve for inevitable upgrades, and the same as required by the Cemetery Act for grounds maintenance
  • Promote a rental housing tenancy agreement similar to the triple net commercial lease for residential rentals. Tenants pay for services they consume but tenants legislatively control these costs to benefit from savings
  • The construction industry retiring labour force is much higher than incoming talent. Create incentives for people to enter construction trades
  • CRA treats owner-managed rental properties as active income, not 50 per cent passive income tax
  • Amortize capital expenses over three years, not an average 15 years
  • Reduce or remove the Capital Cost Allowance repayment (“Recoverable”)
  • In Ontario, require MPAC to base residential investment property on actual NOI (especially income affected by rent control) and abandon inflated “should be” income values. Apply a “true” local market cap rate for a specific building type within narrow geographic boundaries
  • Equalize property taxes for all rental properties. Many municipalities levy two to 2.5 times more tax on rental properties than single-family homes. Tenants pay property taxes, not landlords
  • Government should not construct any general purpose rental housing. Instead, finance construction of community infrastructure. Builders will invest without incentives. Adopt measures similar to European post Second World War reconstruction, especially France, U.K. and Germany
  • Adding a second suites is the most effective and least expensive infill new-build affordable housing option. Remove the many disincentives especially in the brutal Residential Tenancies Act
  • Implement the U.S. low-income housing tax credit. Housing providers reserve low-rent units to earn corporate income tax credit
  • Offer tax incentive to co-living tenants and homeowners. Provide personal tax deduction to tenants who embrace a co-living lifestyle
  • Establish a rent control de-scaling formula. Guideline restrictions loosen as housing availability stabilizes demand with supply. Create incentive first for the market. Nothing lost if goal(s) not met
  • Investigate “war profiteering” by the Canadian insurance industry, since 2020 was one of the industry’s most profitable years, in the middle of a global pandemic. Extortionist profits add significantly to rental and purchased home unaffordability
  • Use federal housing program money to increase tenant rent supplements and allow the market to find its equilibrium. Market rent supports maintenance and growth of municipal infrastructure
  • Expand Housing Investment Corp. to deliver long-term, low-cost and insured financing to housing non-profit organizations and co-operatives through a bond issue for cautious investors
  • Compel municipalities to use all available funding sources before receiving federal or provincial monies, especially contributions-in-lieu for parklands. The GTA surplus is more than $5 billion
  • Create financial incentive(s) for seniors to sell their larger-than-needed homes and to age in place in smaller, less bustling communities
  • Much inflation and unaffordability is caused by goods and services shortages due to a massive entry port backlog. Escalate the issue to national “crisis” status
  • Study the 1960s rental housing construction boom. Eighty-two per cent of all rental housing in Ontario was built before 1979 – mostly in the 1960s. Research why
  • Remove/reduce provincial/federal sales tax on rental property operations expenses
  • Remove municipal embracing of NIMBY-ism
  • Reassess priorities of housing and intensification vs green space and parking
  • Electricity is a major housing contributor to unaffordability. Create corporate tax write-off (not “rebate program”) for landlords (not homeowners) to install solar power generation. Sell electricity back to the grid with the profit to recover installation investment. Government fund R&D of long-term, environmentally friendly solar power battery storage solutions
  • Provide builders with tax credits (not incentives) to construct alternative housing styles – multi-generational homes, energy-efficiency efficient space design
  • Compel municipalities to allow quick-and-easy approvals for alternative affordable home types like tiny homes, container homes, laneway homes, coach houses

Government adds substantial costs to housing affordability. Reducing taxes is not the answer but neither is adding more tax costs to property. We collectively need to vote for politicians with the political will and courage to make unpopular decisions to redistribute existing tax revenues to where they will have the most social benefit, rather than where it will gain the most votes.



Mortgage Rates Update

January 31, 2022 


1 Year  2.79% 2.19%
2 Years 2.94% 1.99%
3 Years 3.49% 2.59%
4 Years 3.74% 2.69%
5 Years 4.59% 2.79%
7 Years 5.35% 2.84%
10 Years 5.60% 3.14%
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.

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