Experience has shown me that a clean, well-staged property makes a big impact on both the sold price and time on market. It's worth the effort and expense, especially as listing inventory rises and downtown condo Sellers have more competition than ever before.
Your MLS photos must be top notch, as prospective Buyers reviewing the latest listings will simply pass over yours if the photos seem unappealing. A clean and clutter-free space is absolutely essential.
In recognition of this I provide all of my clients the services of a professional cleaner and photographer, at my sole cost. It's one less worry for you, and is one vital step to ensuring plenty of interest in your property.
June 10, 2010
February 16, 2010
Tighter Lending Criteria Starting in April
The federal government has introduced new rules that will make mortgage qualifications more stringent for many homebuyers. As of April 19th 2010,
* Homebuyers must meet the qualification criteria for a 5-year fixed-rate mortgage, even if they are pursuing a shorter term or variable rate mortgage. Speak to your mortgage provider on precisely how this will influence your purchasing power.
* Require a minimum 20% down payment for any CMHC-insured non-owner occupied property "purchased for speculation"
* Lower the maximum permissable refinance ratio to 90% of home value, down from 95%
The primary goal of these measures is to help protect homeowners against an upswing in mortgage rates, expected to come as early as this Summer.
* Homebuyers must meet the qualification criteria for a 5-year fixed-rate mortgage, even if they are pursuing a shorter term or variable rate mortgage. Speak to your mortgage provider on precisely how this will influence your purchasing power.
* Require a minimum 20% down payment for any CMHC-insured non-owner occupied property "purchased for speculation"
* Lower the maximum permissable refinance ratio to 90% of home value, down from 95%
The primary goal of these measures is to help protect homeowners against an upswing in mortgage rates, expected to come as early as this Summer.
February 22, 2009
Why Your Choice of Brokerage Actually Matters
The results are in: Royal LePage had the highest average sale price ($405,611) and highest Sell to Ask ratio (97.79%) among major GTA Realtors in 2008.
Professional service and true dedication to our clients make all the difference.
Professional service and true dedication to our clients make all the difference.
January 27, 2009
Home Renovation Tax Credit Announced
Effective today through Jan. 31, 2010, homeowners can claim a tax credit for 15 per cent of renovation expenses between $1,000 and $10,000. The maximum tax credit (on $9,000 in renovations) is worth $1,350.
Projects that qualify for the 15% credit include renovating a kitchen, bathroom or basement, installing new carpet or hardwood floors, building an addition, deck, or fence, installing a new furnace, or painting the inside or outside of your property.
Visit www.yourhome.ca/homes/article/578132 for more details.
Projects that qualify for the 15% credit include renovating a kitchen, bathroom or basement, installing new carpet or hardwood floors, building an addition, deck, or fence, installing a new furnace, or painting the inside or outside of your property.
Visit www.yourhome.ca/homes/article/578132 for more details.
December 12, 2008
Timing is everything...
We're in a buyer's market, mortgage rates are at historic lows, and the rental vacancy rate in Toronto is down to only 2.1% All of this points to one thing: now is a great time to consider a condo investment. Let's examine each of these factors in a bit more detail.
Buyer's Market: you are much less likely to encounter a multiple-offer scenario, and there is room to negotiate that even a few months ago did not exist. High-demand units (close to public transit, retail, amenities) are in greater supply than we have seen for quite some time. These units are the easiest to rent and tend to attract the most dependable tenants.
Mortgage Rates: cash flow is key. With a lower mortgage payment, your rental income is covering a greater proportion of your monthly carrying costs. With a well-informed purchase, you may even find that your rental income covers 100% of your carrying costs including maintenance fees and property taxes. And don't forget, as your mortgage matures, a greater proportion of principal is being paid down each year.
Rental Vacancy Rates: many people are putting off buying in the short to medium term, and entering the rental market as a result. This has driven down the Toronto vacancy rate to 2.1%, from 3.2% last year.
Please contact me to discuss the most suitable condo investment options within your price range.
Buyer's Market: you are much less likely to encounter a multiple-offer scenario, and there is room to negotiate that even a few months ago did not exist. High-demand units (close to public transit, retail, amenities) are in greater supply than we have seen for quite some time. These units are the easiest to rent and tend to attract the most dependable tenants.
Mortgage Rates: cash flow is key. With a lower mortgage payment, your rental income is covering a greater proportion of your monthly carrying costs. With a well-informed purchase, you may even find that your rental income covers 100% of your carrying costs including maintenance fees and property taxes. And don't forget, as your mortgage matures, a greater proportion of principal is being paid down each year.
Rental Vacancy Rates: many people are putting off buying in the short to medium term, and entering the rental market as a result. This has driven down the Toronto vacancy rate to 2.1%, from 3.2% last year.
Please contact me to discuss the most suitable condo investment options within your price range.
November 17, 2008
Think Local
Many are concerned about the slowing economy and its effect on real estate. Making sense of the huge quantity of real estate information and analyses sent our way can be a real challenge.
Always keep in mind that the real estate market is local in nature. Consider a 3-bedroom bungalow in North Etobicoke versus a 1-bedroom condo Downtown: although both properties are located in Toronto, each will attract a different set of buyers coming from different economic circumstances. The supply and demand for both these properties are influenced by general economic conditions (such as mortgage rates), but they are also very much influenced by local conditions: is the neighbourhood population growing or shrinking? Are new properties being built? What are the local business conditions? These are just some of the factors that will impact the value and volume of real estate transactions in each neighbourhood.
For real insight into the market, it's a good idea to talk to a Realtor that focuses on your neighbourhood of interest.
Always keep in mind that the real estate market is local in nature. Consider a 3-bedroom bungalow in North Etobicoke versus a 1-bedroom condo Downtown: although both properties are located in Toronto, each will attract a different set of buyers coming from different economic circumstances. The supply and demand for both these properties are influenced by general economic conditions (such as mortgage rates), but they are also very much influenced by local conditions: is the neighbourhood population growing or shrinking? Are new properties being built? What are the local business conditions? These are just some of the factors that will impact the value and volume of real estate transactions in each neighbourhood.
For real insight into the market, it's a good idea to talk to a Realtor that focuses on your neighbourhood of interest.
September 10, 2008
The Entertainment District
The mix of restaurants, clubs, condos and offices roughly bounded by Spadina, Queen, University and Front is known as the Toronto Entertainment District.
The District is becoming more urbane with each passing day. Nightclubs are making way to Class A office space, and surface parking lots are being scooped up by developers and transformed into high rise condominiums. Daniels is developing a block-wide landmark project at the corner of John and King known as Festival Tower. The base of the tower will serve as the future home of the Toronto International Film Festival, bringing incredible exposure to the neighbourhood each September.
Nearly every remaining surface parking lot in the District is slated for a new high-rise, and over the coming years many thousands of new residents will call it home. With its central location close to the shopping of Queen St, the University subway line, Bay Street, and the lake, the Entertainment District is an excellent option for young professionals who don't mind having some excitement right at their doorstep. For up to the minute information on any of the new or existing condos in this neighbourhood, please contact Oliver at 416-522-6636.
The District is becoming more urbane with each passing day. Nightclubs are making way to Class A office space, and surface parking lots are being scooped up by developers and transformed into high rise condominiums. Daniels is developing a block-wide landmark project at the corner of John and King known as Festival Tower. The base of the tower will serve as the future home of the Toronto International Film Festival, bringing incredible exposure to the neighbourhood each September.
Nearly every remaining surface parking lot in the District is slated for a new high-rise, and over the coming years many thousands of new residents will call it home. With its central location close to the shopping of Queen St, the University subway line, Bay Street, and the lake, the Entertainment District is an excellent option for young professionals who don't mind having some excitement right at their doorstep. For up to the minute information on any of the new or existing condos in this neighbourhood, please contact Oliver at 416-522-6636.
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