Happy autumn. Let’s hope the coming season treats us all well! Speaking of seasons, you may have noticed that the real estate market seems to have seasons. Traditionally, it’s slower in some months and busier in others. In fact, that might lead you to try to “time” the market and sell when it’s hot. But, be careful. Like the weather, the real estate market can be unpredictable. Yes, it may be active next spring – but, then... [read more]

The Home Buyers' Plan (HBP) is a program that allows you to withdraw funds from your Registered Retirement Savings Plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. The HBP allows you to pay back the withdrawn funds within a 15-year period. You can withdraw funds from more than one RRSP as long as you are the owner of each RRSP account. Your RRSP issuer will not withhold tax on withdrawn amounts is up to $35,000 of your RRSP savings... [read more]

  Many of our clients are happy that they have access to a downpayment for a new purchase but no one explained to them what the mortgage requirements are for downpayment verification. To protect against criminal activity and fraud, there are rules in place required by lenders that you should be aware of. Here are 7 things you must be aware of before your purchase regarding your downpayment: Most lenders require that you provide a 3-month history of your bank... [read more]

MORTGAGE REFINANCE It's no doubt that people are losing their jobs, taking care of loved ones and money is tight. Getting a new mortgage to replace the original is called refinancing. Refinancing is done to allow a borrower to obtain a better interest rate and use the extra money in their favor. Here are some reasons why you should consider a Mortgage Refinance: 1. Consolidating Debt When there are many things to pay for, our monthly bills tend to become overwhelming and hard... [read more]

The COVID-19 outbreak has created a new reality for all of us, at least temporarily. Chances are you’re dealing with many new challenges, both personally and professionally. We all are. Now, it’s up to each of us to do our part so we can get through this as quickly as possible. Remember, we’re all in this together. Stay positive and know that things will get better. In the meantime, you might have immediate concerns about the real estate... [read more]

Greater Toronto Area reported 8,012 home sales through TRREB’s MLS® System in March 2020 – up by 12.3 percent compared to 7,132 sales reported in March 2019. However, despite a strong increase in sales for March 2020 as a whole, there was a clear break in market activity between the pre-COVID-19 and post-COVID-19 periods. For the purposes of this release, the start of the post-COVID-19 period was the week beginning Sunday, March 15. • The overall March sales result was... [read more]

If you are renting a condo, you are paying the money (Rent) which will not be seen again. Once it is gone, it is gone. When you have house/condo of your own, You build equity. ... Each time you make a mortgage payment you build equity that goes into your pockets rather than the pockets of your landlord. And, unlike most things you buy, a home will almost certainly increase in value over the long run – which builds even more equity. Let me know if you are renting, I will... [read more]

How to Buy Property in Toronto, Canada. The process of a foreigner buying in Toronto as being “pretty straightforward.” “You don’t have to be a citizen here but you have to have your money here, and it is easily transferable in today’s global economy,”. Funds should be available in North America for when you are ready to make a purchase. (Note: Many Canadian banks have branches in the U.S.) Once you choose a home, you can expect to pay a 10% deposit.... [read more]

A home is usually the single largest investment that most people make in their lives. Achieving your dream can be made easier by taking advantage of various Government Programs for home buyers and property owners. Some of the programs are targeted to first-time buyers, while others apply more generally. Other programs benefit those in the industrial, commercial and multi-unit property market. Your REALTOR® can provide information on these programs and help you to determine your... [read more]

TORONTO, ONTARIO, June 4, 2018 – Greater Toronto Area REALTORS® reported 7,834 sales through TREB’s MLS® System in May 2018. This result was down by 22.2 per cent compared to May 2017. While the number of sales was down year-over-year, the annual rate of decline was less than reported in February, March and April, when sales were down by more than 30 per cent. [read more]