After the introduction of the foreign buyer's tax last spring, which included a 15% tax on foreign buyers in the Greater Golden Horseshoe, expanded rent controls and legislation allowing Toronto and other cities to tax vacant homes, the downturn of the Toronto Real Estate Market was initiated. However, this downturn is expected to be brief, according to the federal house agency. Property prices in Toronto fell from an average of $919,589 in April to $739,915 last month. This fall is said to come to a halt with prices picking up in the near future, thanks to supply constraints and a ...
Updates on the Toronto Housing Market
August 11, 2017
Keeping Deals Alive in Our Current Real Estate Market
July 25, 2017
Nowadays, buyers are having a tougher time closing their Real Estate Deals. This is due to the buyer not being able to sell their existing home for what they exected or reasons like the lender re-appraising the property they bought lower than what they paid, resulting in a lower mortgage being approved. Either way, the deal cannot close without further negotiations. Here are some things to keep in mind if you are a buyer or seller trying to maintain a deal: Keep The Deal Alive Whenever Possible: According to Mark Weisleder, partner, author, and speaker at Real Estate Lawyers.ca, keeping ...
Advantages of Owning a Condo!
July 19, 2017
When it comes to home ownership, a condo is an option that many Canadians gravitate towards. There are multiple advantages to owning a condo. Condo's can be low-rise buildings, townhouses, freestanding houses, duplexes, triplexes or "mixed use" buildings, such as condos above offices or store fronts. What makes condos different from freehold houses is that you own your unit but you also share ownership of the level, building and common areas. You share costs with fellow members of your condo association and the board of directors or a property management company makes the big decisions. Here are some advantages of ...
Bank of Canada Interest Rate Increase Announcement
July 12, 2017
The Bank of Canada hiked its interest rate to 0.75% from 0.5%. This is the first increase in 7 years, amid expectations of stronger economic growth last year. Such a move is bound to increase the costs of mortgages, home equity lines of credit and other loans linked to the big bank prime rates The bank of Canada cut interest rates by a quarter of a percentage point twice in 2015 to help the economy deal with a plunge in oil prices. The governor of the Bank of Canada said that any future changes to the central bank's key interest ...
Advantages of Living in a Townhouse
June 29, 2017
Townhome living maybe the impeccable choice for those who are interested in the texture of a single-family home, without all the maintenance responsibilities. Generally, townhomes are built on a small plot of land within a neighbourhood development, consisting of multiple floors, garage, parking spaces, and a shared wall with another home. In most instances, the townhome community is regulated by a homeowners association that sets the rules for the community and is responsible for maintaining some or all of the exterior and shared property. Each owner in the community is a member of the homeowners association and pays a monthly ...
Tips To Becoming a Real Estate Entrepreneur
June 16, 2017
It's always exciting to become a Real Estate Entrepreneur! Almost all markets are both highly active and profitable. Here are some tips on how to start your entrepreneurial venture: 1. STUDY THE BROAD MARKET Try to figure out if your interest and skill set is most suited in commercial or residential Real Estate. Typically, new entrepreneurs begin with residential because it's less complex than commercial. Also, most people have some experience in residential Real Estate from buying/ dealing with their own home. 2. PASSIVE OR ACTIVE INVESTING A Passive investor might hold a private loan not secured by Real Estate. Other ...
Signs a Home Buyer Isn't Serious
June 9, 2017
If statements like " This place is just perfect for us" and "I have to have it" were binding, selling houses would be a piece of cake. Considering that it is hard for home sellers to not get their hopes up when a buyer's admiring their home- only to be dissapointed when the buyer dissapears without a peep, here are some signs that a buyer is not serious about buying your house: The Buyer is Flying Solo If a buyer does not have a real estate agent yet, they probably aren't serious about shopping for a home. A buyer's agent ...
Mistakes first Time Home Buyers Fall Victim too Continued!
June 5, 2017
Calling all First Time Home Buyers out there! If you're considering buying your first home, you probably want to do a bit of research. Perhaps you'll talk to friends and collegues about potential areas to live in and prices regarding the process. However, that is not enough. You need a much more strategic plan to get that dream house you always wanted. Continuing from our previous "Mistakes First Time Home Buyers Fall Victim too" Blog, below are more common mistakes first home buyers commit and tips on how to avoid making these errors: 5. You Do Not Ask For Comparables: A good way to ...
A Chance to Enjoy an Incomparable Costa Rican Lifestyle!
June 1, 2017
Welcome to PACIFICO in Playas Del Coco, Guanacate, Costa Rica! This gated, guarded, and exquisitely planned Resort Community is as exotic as the natural beauty that surrounds it! A short 20-minute drive from the airport, PACIFICO Owners and guests can enjoy many resort style amenities including a private Beach Club with Restaurant & Bar; Health Club & Spa- with tennis courts and conveniences that include The Auto Mercado Center and the Village Shops! This Luxury resort community is built to the highest U.S. Standards offering it's owners and guests the opportunity to experience the incomparable Costa Rican Lifestyle! If ...
Mistakes First Time Home Buyers Fall Victim Too
May 30, 2017
Calling all First Time Home Buyers out there! If you're considering buying your first home, you probably want to do a bit of research. Perhaps you'll talk to friends and collegues about potential areas to live in and prices regarding the process. However, that is not enough. You need a much more strategic plan to get that dream house you always wanted. Below are some common mistakes first home buyers commit and tips on how to avoid making these errors: 1. You Fall In Love With Home Staging In its simplest form, home staging is when the seller declutters and rearranges ...