By: Thomas Cook

FLAT… FLAT… FLAT

FLAT… FLAT… FLAT

Sales were FLAT for March compared to last year with 7,187 houses and condominiums changing hands in all the districts.  This was tied for the lowest number of sales since 2009 for the month with March 2018.   Condo townhouse and high-rise suites took a typical 35% share of the market with 2,516 units being sold.   The March average sale price for all GTA homes came in at $788,335– almost identical (+0.5%) with one year ago.   The active listing inventory is one of the strongest indicators of how slow or fast the market has been moving.  The inventory average for the month of March compared to historical numbers were basically FLAT compared to last year at this...Read More

By: Thomas Cook

Top 10 Myths That Trip Up First-Time Home Buyers

Top 10 Myths That Trip Up First-Time Home Buyers

If you’re thinking about buying a home, you’ve probably received your share of advice from family and friends. Add to that the constant stream of TV shows, news segments, and social media posts that over-simplify the home buying process for easy entertainment.   With so much information to sift through, it can be tough to distinguish fact from fiction. That’s why we’re revealing the truth behind some of the most common home buyer myths and misconceptions.   Buying a home is a big decision, but it doesn’t have to be a scary one. If you arm yourself with knowledge and a qualified team of support professionals, you’ll be well equipped to make the ri...Read More

By: Thomas Cook

Protecting Your Pre-Approval

Protecting Your Pre-Approval

People mistakenly believe once they’ve been pre-approved or approved by a lender it’s all done. But what they don’t realize a lender may pull their credit 30 days prior to close. They also don’t realize lenders can request updated documents in that time. And, if some of the original information that got you the mortgage approval in the first place changes, and for the worse, you could lose your financing. Here’s a short list of actions that could put your approval on pause: Having additional credit reports pulled by another broker or lender The lender will often pull your credit again right before financing. If the lender sees that other brokers or lenders ha...Read More

By: Thomas Cook

How To Avoid A Tenant Catastrophe When You Sell

How To Avoid A Tenant Catastrophe When You Sell

  I recently was assisting a client with the sale of her condo suite in downtown Toronto and came up against a roadblock. But of a bit of background first… the tenant had been in place for almost nine years and through most of that time, there was an amicable relationship.  However a couple of years ago, things changed… in my mind, both the landlord and the tenant both held some fault in that relationship failure… and the spirit of mutual cooperation disappeared. My client decided to sell the suite but we immediately started to encounter problems with access.  First, the tenant changed the keys but ultimately we got that solved. Then, the tenants decid...Read More

By: Thomas Cook

How Does Title Insurance Protect You?

How Does Title Insurance Protect You?

The word “title” is a legal term that means you have legal ownership of property. You obtain title to property when the owner signs the deed (transfer document) over to you. Title is then registered in the government’s land registration system.   Title insurance is an insurance policy that protects residential or commercial property owners and their lenders against losses related to the property’s title or ownership.   Normally, when you purchase a home, your lawyer would investigate title to see if there are any liens against the property.  Your lawyer’s opinion however, is only going to be as good as his/her research.  So, if your lawyer ma...Read More

By: Thomas Cook

Today's Market Realities - Selling In A Seller's Market

Today's Market Realities - Selling In A Seller's Market

  What makes a home sell?   Our entire book could be devoted to answering this question.  Hopefully the ‘getting your home ready for the market’ tips and articles you’ve read before this help to answer some of that question.   But to be as concise as possible, a successful sale requires that you concentrate on five considerations: your price, terms, home condition, location, and market exposure.   Since you can’t control all of them, you may have to overcompensate in one or more areas to offset a competitive disadvantage in another.   When is the best time to list a home for sale?   Best time… as soon as you decide to sell it...Read More

By: Thomas Cook

What’s Your Condo Suite Or House Actually Worth?

What’s Your Condo Suite Or House Actually Worth?

  Discover What Buyers Will Pay in Today’s Market   It’s easy to look up how much money you have in your savings account or the real-time value of your stock investments. But determining the dollar value of a condo or house is trickier.   As a seller, knowing your home’s worth helps you price it correctly when you put it up for sale. If you price it too high, it may sit on the market. But price it too low and you may be losing out on a good chunk of money (nobody wants that!).   For buyers, it’s important to know a home’s worth before you make an offer. You want your offer to be competitive, but you don’t want to overpay for the proper...Read More

By: Thomas Cook

February Had The 2nd Lowest Number of Sales Since 2001

February Had The 2nd Lowest Number of Sales Since 2001

Sales were down 2.4% for February compared to last year with 5,025 houses and condominiums changing hands in all the districts.  This was the lowest number of sales for the month since 2009 and the 2nd lowest since 2001, 18 years ago. Condo townhouse and high-rise suites took a significant 37.3% share of the market with 1,876 units being sold. The February average sale price for all GTA homes came in at $780,397– this was a very modest 1.6% increase from one year ago. The active listing inventory is one of the strongest indicators of how slow or fast the market has been moving.  The inventory average for the month of February compared to historical numbers increased by 3.3...Read More

By: Thomas Cook

5 Reasons to Sell Before the Selling Season Picks Up

5 Reasons to Sell Before the Selling Season Picks Up

  A common thought in real estate is never list your home in the winter offseason. Perpetuated by industry experts, agents and repeat sellers alike, this saying encourages many would-be sellers to wait until the spring peak to list their homes. However, studies show that homes listed in the winter offseason not only sell faster than those in the spring, but sellers also net more above their asking price at this time. Don’t wait until spring to sell. If you’ve been thinking of selling your home, here are five compelling reasons to list now.   1. Take advantage of low inventory. Since most sellers are waiting until spring to list, local inventory falls during...Read More

By: Thomas Cook

Create A Down Payment Even If You Have Zero Saved Right Now

Create A Down Payment Even If You Have Zero Saved Right Now

  We Have Some Creative Ways Which Might Help!    Phil and Laura called our Hotline about an article that was in one of our recent newsletters. The article that sparked their interest was entitled “Contrary To Popular Belief… You CAN Buy A Home With Almost ‘Zero’ Dollars Down”.   They wanted to know how this would work as the house they were renting was being sold and they were looking at the cost of moving and having to pay at least $2,200 per month to rent something else!   A brief conversation on the phone got them excited about the possibilities of buying instead of paying rent. At the Buyer Consultation which followed a few days l...Read More