A minimum cash down payment from your own resources is required because mortgage lenders won't advance the entire purchase price of a property. Your minimum down payment would normally be 10%, however, a recent government program has lowered the minimum to 5% for qualified first time buyers. Another temporary program allows first time buyers to use funds from their RRSP for their down payment. It's to your advantage to aim for a down payment of 25% or more, so you'll qualify for a conventional mortgage and avoid paying the mortgage insurance premium. The larger your down payment, the ...
Your Down Payment
December 7, 2011
What does â€œupgraded wiringâ€ really mean?
November 28, 2011
The subject of home inspections continues to matter to buyers and sellers. John says that he would never listen to a home inspector recommendation by a real estate agent because they only refer inspectors who will likely approve the house. My answer is that real estate agents will normally recommend three professionals. You should take the time to check references for any inspection company before deciding to hire them. Jim, a seller, complains that buyers use the home inspection condition to come back and try to renegotiate the price. Paul, another seller, asks whether they should do ...
Executive Townhouses Etobicoke
February 24, 2011
Both the empty nesters downsizing their homes and first time buyers are actively looking at both freehold and condominium townhouses that are at and near major transit hubs like the Islington and Kipling Subway Stations. Get Sold prices for the last 6 - 8 month period. Ask about current unit availablility. Map where these complex's are located. Closest to the Islington Subway station is the freehold townhouse grouping at Six Points Road and Islington Ave. There is a maintenence fee for the servicing of common elements. Furrow Lane has approximately 90 units in total. that are simply divided into two ...
I know, Etobicoke Real Estate
February 2, 2011
I know sometimes its confusing There are so many choices. I know, that you are hesitant to commit to one agent because so many people have told you so many things. I know, its difficult to filter, all the information online, some is old, some out of date, some sounds too good to be true, Just to make you call. I know that you want a house for your family for long term equity building. I know that you understand buying real estate is a good investment. I know that being new to Canada has challenges ...
Market Watch Summary + Video from Toronto Real Estate Board
January 18, 2011
GTA REALTORS® Report Monthly Resale Housing Market Figures TORONTO, January 6, 2011 -- Greater Toronto REALTORS® reported 4,395 existing home sales for the month of December, bringing the 2010 total to 86,170 – down by one per cent compared to 2009. “Market conditions were anything but uniform in 2010. We went from super-charged sales activity during the first four months of the year, to a marked drop-off in transactions in the summer and then in the fall saw sales climb back to levels that are sustainable over the longer term,” said TREB PresidentBill Johnston. “New Federal Government-mandated mortgage lending ...
What kind of year will 2011 be for the real estate market?
January 14, 2011
What kind of year will 2011 be for the real estate market? Message from Igor Futrega . . . Happy New Year and Best Wishes in 2011!!! What kind of year will 2011 be for the real estate market? In all likelihood, it will be another excellent year particularly if interest rates remain low, incomes continue to rise with the economic recovery and population growth continues to track the same pattern of recant years gone by. As we enter 2011, the market happily appears to be returning to amore balance situation following the imbalances that we witnessed in late ...
Our W06 Real Estate Market Watch
January 6, 2011
The W06 grid reference for the Toronto real estate board takes in a number of family residences namely Alderwood, Mimico, New Toronto, Longbranch, and more recently the entire condominium new construction phenomena along Lake Shore and Marine Parade Dr. The Lake Shore at Superior Ave., is not exempt from a revitalization with the announcement of the Mimico by the Lake named Eleven Superior by Davies Smith . From the Toronto Real Estate board statistics we have learned that in the W06 grid there were186 active listing ( Homes and condos for sale) of which 56 were new ...
What Happens in W06 stays in W06
December 13, 2010
The W06 grid reference for the Toronto real estate board takes in a number of family residences namely Alderwood, Mimico, New Toronto, Longbranch, and more recently the entire condominium new construction phenomena along Lake Shore and Marine Parade Dr. The Lake Shore at Superior Ave., is not exempt from a revitalization with the announcement of the Mimico by the Lake named Eleven Superior by Davies Smith. From the Toronto Real Estate board statistics we have learned that in the W06 grid there were 269 active listing ( Homes and condos for sale) of which 120 were new listings added in ...
Geothermal: Sharing the Costs of Housing Infrastructure
December 4, 2010
In Winnipeg, a major subdivision has incorporated a unique feature into all its homes – geothermal heating. While geothermal systems have become quite commonplace in residences, the Manitoba experiment involves shared geothermal infrastructure, with one field and a handful of heat exchange systems servicing hundreds of homes. The idea of shared infrastructure for homes is not new. Indeed, in the early 1900s, huge numbers of homes across Canada were constructed with shared living rooms (parlours), shared kitchens, and sometimes, shared bathrooms. Apartments are nothing more than homes with shared infrastructure, albeit a series of boxes stacked so as to ...
First Impression Staging: Think of Your Target Market
November 28, 2010
One of the most difficult concepts we face is the prospect of thinking from another’s perspective. Yet, that is precisely what we need to do when we are selling our home (or selling anything, for that matter!). While we may have spent years adding those personal touches that made the house we purchased years ago into the home we have today, those memories, preferences and unique features are personal. They likely are not shared by the vast majority of prospective home buyers who may view our new listing. In one house I viewed, the owner had built an innovative centre ...