Looking for things to do with your family and friends this long weekend? Say no more! We got a list for you to choose from: 1. Victoria Day Fireworks: Victoria Day celebrations would not be complete without a display of fireworks! Luckily there's a few options for you! You can catch fireworks TODAY at Canada's Wonderland! Spend the afternoon and evening checking out the 200+ rides and attractions! After that, you can stick around for the fireworks show which boasts over 6000 explosions! Did you know that it takes 2-3 days of prep of set up for the show?? The ...
No Plans for The Victoria Day Long Weekend? We got you covered!
May 20, 2018
Its National Real Estate Day!
May 17, 2018
The Toronto Real Estate Board has declared May 17th to be National Real Estate Day! The purpose of the day is to provide a forum for all Canadians to discuss why they love their homes and how home ownership has positvely impacted their lives. Canada has a high rate of home ownership, at nearly 70%, showing that Canadians have embraced the idea of owning a home as a good thing. In a general sense, it is perceived as a smart financial move or an investment that you can live in! Typically speaking, home prices in Canada rise at or above ...
New Qualifying mortgage Rate vs The Banks
May 15, 2018
You might have heard the news of the central bank's five year benchmark qualifying rate increasing to 5.34% last week. This qualifying rate will be used in stress tests for both insured and uninsured mortgage. And an increase only means that the bar for borrowers to qualify is even higher.... It's no doubt that the national home sales volume sank to the lowest level in more than 5 years in the month of April, falling by 13.9% from the same month last year. The national average sale price decreased by 11.3% year over year. Home sales have slowed due to ...
The Federal Government announces new housing investment fund
May 8, 2018
The Canadian government has announced a new investment fund as part of the National Housing Strategy. The National Housing Co-Investment Fund (NHCF) will see the government work with partners to build up to 600,000 new affordable housing units and repair over 240,000 affordable and community units over the next 10 years! These will also be funding for thousands of homes for the most vulnerable people in Canada! The focus is on strengthening the middle class, fuelling the economy, and giving thousands of people affordable housing options. The minister responsible for CMHC, Jean-Yves Duclos, said that the National Housing Strategy is ...
Updates on Landlords, Tenants and Leases
May 1, 2018
The Ontario government has issued the new Ontario standard lease form that is now mandatory to use for all new residential leases in Ontario starting after April 30th, 2018! Here are some answers to commonly asked questions (courtesy of Mark Weisleder of Real Estate Lawyers.ca): 1. HAVE THE FORMS BEEN CHANGED FROM THE ORIGINAL OFFER TO LEASE? The OREA form 400 offer to lease has been changed in order to have the landlord provide the Ontario standard form lease, incorporating the terms of the offer to lease for the tenants signature. 2. WHAT HAPPENS IF THE LANDLORD DOES NOT PROVIDE ...
Thinking of Downsizing?
April 27, 2018
People downsize ALL THE TIME! If you are one of those people, then you have come to the right place! Downsizing can be a great opportunity provided that the current sale offers incentive. Keep reading to learn how you can improve your odds: WHAT ARE YOUR DOWNSIZING GOALS? Sellers should work on setting a few goals based on the reality of their current market. For instance, selling in a hot market can return a lot more money than expected. However, it should be noted that a higher cost might need to be paid for a smaller home within the same market ...
Top amenities to look for in your future neighborhood
April 24, 2018
When it comes to your next home purchase, location will play a vital role in your decision! Although people's wants and needs are different, the majority often want their homes to be close to certain areas and amenities. Here are some of the amenities wanted that are common to most potential buyers: 1. Restaurants, Shops and Services: Often home buyers are willing to pay extra in order to live close to different services, restaurants and shops. A typical buyer is looking for a place where they can purchase a few items needed before or after a long day at work ...
Closing Costs! A 101 for Home Buyers
April 17, 2018
Closing cost payments are one of the last processes that occur during the home buying process. For a potential home buyer, it is very important to understand what these pesky fees are and how much they cost. Home buyers who go into the home buying process with knowledge of the process are often more prepared to buy a home. CLOSING COSTS? WHAT'S THAT? In simple terms, closing costs are the administrative fees associated with certain steps of the home buying process. Closing costs can vary depending on whether the house is new or not, how much it costs, location of ...
Selling In a Competitive Buyers Market
April 13, 2018
A lot of people might ask what a buyers market is....Simply put, a buyers market means that there are more homes for sale that there are buyers interested. HOW CAN SELLERS IMPROVE THEIR HOMES FOR BUYERS? When sellers are aware that the market they are entrering puts buyers at an advantage, they should do whatever they can to help their homes seem more appealing! People who have upgraded their homes recently might just need a coat of paint, a few minor repairs and some expert staging to draw buyers in. Homes that do not meet a buyers minimum standards could require ...
Real Estate Housing Market March Update!
April 6, 2018
The Toronto Real Estate Board report has stated that only 7,228 homes changed status last month, compared to the 11,954 in the previous year! This follows two consecutive months of decline since the start of 2018. Not to mention, the decline of 17.6% from the 10-year average. The number of homes listed for sale also tightened to 12.4%, with 14,866 homes placed on the market. However, despite less choice, buyers are enjoying softer home prices which have dropped 14.3% from last years high, to an average of $784,558 BOARD EXPECTS SLOWER ACTIVITY: Slower sales and price activity was on course ...