By: Thomas Cook

You'll Be Asked To Sign A Listing Agreement

You'll Be Asked To Sign A Listing Agreement

There are three main ways to sell any Toronto property… On your own without an agent List it exclusively with a Realtor but not expose it to the full market List it on the MLS (Multiple Listing Service) which makes your condo accessible to all 54,000+ agents in the Toronto Real Estate Board (TREB) People have their own specific personal reasons for choosing any one of these.  For example, we offer a ‘Silent Market’ for those owners who prefer to go the ‘Exclusive’ route for a while at least.    However, the vast majority of sellers choose the MLS route because it offers the best chance of getting the highest price so let’s talk more a...Read More

By: Thomas Cook

Sellers are appreciating the better market

Sellers are appreciating the better market

In July sales were up 24.3% compared to last year with 8,595 houses and condominiums changing hands in all the districts.   Condo townhouse and high-rise suites took a slightly higher 34.2% share of the market with 2,938 units being sold which is up 16.3% from 2018.   The July average sale price for all GTA homes came in at $806,755– up just 3.2% from one year ago.  This average is now up 8.2% from the average market high back in July 2017.   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 July compared to historical numbers was lower by 9.1% compared to last...Read More

By: Thomas Cook

5 Step Strategy for Downsizing Your Home

5 Step Strategy for Downsizing Your Home

In our “bigger is better” culture, there’s an expectation that each home should be larger and grander than the last. But life changes like divorce, kids leaving for college, or even the simple act of growing older can prompt us to find a smaller home that better suits our shifting needs and lifestyle. In fact, the advantages of downsizing are being increasingly recognized. A “tiny house movement” has gained passionate advocates who appreciate the benefits of living simply at any age and stage of life. Not only does a smaller home typically cost less, it also takes less time and effort to maintain. Whatever your reasons are for downsizing, the process can seem ...Read More

By: Thomas Cook

Attracting The Best Tenants

Attracting The Best Tenants

This Guide Will Help You To Know How To Fill Your Toronto Investment Condo Or Suite  In A House With High Quality Tenants And Avoid Problems With Non-Payment Of Rent, Property Damage and Tenants Skipping Before The End Of Their Lease   Getting the right tenant for your rental property is the single difference between a profitable income property and an expensive headache of bounced cheques, illegal activities and property damage.   This doesn’t mean that by choosing to become a landlord you are taking a huge risk. If you do your research into potential tenants properly, you’ll find that renting out your property can be a very rewarding experience.  As you...Read More

By: Thomas Cook

Choosing A Mortgage Broker Or Banker To Work With - Hint... It's Not Just About The Rate!!

Choosing A Mortgage Broker Or Banker To Work With - Hint... It's Not Just About The Rate!!

The role of a mortgage broker is to provide their client with the best possible mortgage for which they qualify. That doesn’t always translate into the lowest rate.   But GDS, TDS, LTV and all the other industry acronyms aside, what is the best mortgage for the borrower and what does the broker need to do to arrange it for them?   The first question a client (or real estate agent) will ask a broker is, “What is your rate?” Any broker who provides a number without asking some questions first is doing a disservice to their potential clients. But the rate is the rate is the rate. Or is it?   Financial institutions advertise a posted rate. Who pays the posted rat...Read More

By: Thomas Cook

Choosing The Right Professional Agent Is Not Easy

Choosing The Right Professional Agent Is Not Easy

The Toronto Real Estate Board now has well over 50,000 licensed Realtors registered to work in the GTA area.   Of those, 78% sell less than 6 homes per year and almost 50% don’t even sell 3 homes annually.  Many of those agents are working at a full-time job for their income and try to do their real estate business on the side, part-time.   There is however a solid core of professional, full-time Realtors who do the majority of the sales in the Toronto MLS.  And there’s an even smaller group of agents who work with a ‘By Referral Only’ philosophy.   Realtors who work with this philosophy guiding their business have a keen desire to satisf...Read More

By: Thomas Cook

So How Do Real Estate Agents Get Paid?

So How Do Real Estate Agents Get Paid?

Although most likely you’ll have a listing agent representing you and a buyer agent who brings in the successful offer, the payment of the total commissions falls to the seller.   Don’t think that the buyer is getting away with a big win however.  The seller pays minimal closing costs while the buyer will have to pay, among other expenses, both Province of Ontario land transfer tax and, if buying in the City of Toronto, they’ll also have to pay city land transfer taxes.   On a $500,000 purchase those taxes alone could range between $6,000 and $12,000 depending on whether they’re first-time buyers or not.   Realtor commissions of course are complete...Read More

By: Thomas Cook

Confidence Is Returning… Slowly

Confidence Is Returning… Slowly

In June sales were up 10.4% compared to last year with 8,860 houses and condominiums changing hands in all the districts.   Condo townhouse and high-rise suites took a lower 32% share of the market with 2,832 units being sold which is very slightly down from 2018.   The June average sale price for all GTA homes came in at $832,703 – up just 3% from one year ago.  This average is now up 5.1% from the average market high back in June 2017 for the first time this year.   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 June compared to historical numbers was lowe...Read More

By: Thomas Cook

Real Estate Relocation Guide: 7 Steps to a Seamless Move

Real Estate Relocation Guide: 7 Steps to a Seamless Move

Whatever your reasons are for relocating to a new area, the process can feel overwhelming. Whether you’re moving across across town or across the country, you’ll be changing more than your address. Besides a new home, you may also be searching for new jobs, schools, doctors, restaurants, stores, service providers and more.   Of course you’ll need to pack, make moving arrangements, and possibly sell your old home. With so much to do, you may be wondering: Where do I start?   In this guide, we outline seven steps to help you get prepared, get organized, and get settled in your new community. Our hope is to alleviate the hassle of relocating—so you can focus o...Read More

By: Thomas Cook

How To 'Cheat' On Your Mortgage

How To 'Cheat' On Your Mortgage

Typically, when a person talks to their banker about mortgages, most often the discussion revolves around having a standard monthly payment with an amortization of 25 years. For a $400,000 mortgage at a 2.5% interest rate, that would mean your mortgage would be paid off in full by the end of the 25th year!   However, it also means that you would have paid the bank back $548,000 over that 25-year period. $400,000 in principal loan repayment AND $148,000 in interest payments!   There are several, almost secret, options available which will reduce the total interest you pay and in one case substantially reduce the interest paid by over $40,000 in the above example.   First off, l...Read More