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

By: Thomas Cook

You Absolutely Positively Need To Know What These Mean

You Absolutely Positively Need To Know What These Mean

YOU ABSOLUTELY, POSITIVELY NEED TO KNOW WHAT THESE MEAN As you get into learning the best ways to buy a home in today’s busy market, you’ll need to familiarize yourself with the terms of the business so that you will be speaking the same “language” as the real estate and mortgage financing professionals in the field! Real Estate:  Most commonly includes the sale of real property such as houses, condominiums and commercial property but also includes the rental of real estate and the sale of businesses. Real Estate Broker or Salesperson:  An intermediary between the buyer and seller who is licensed by the Province of Ontario to...Read More

By: Thomas Cook

Who Represents You In A Real Estate Transaction?

Who Represents You In A Real Estate Transaction?

Understanding what type of relationship you have with your Realtor, and the brokerage he or she works for, will help you understand how the negotiation process works when you’re selling a home.   When an agent is working on your behalf, an agency relationship is created.   Typically, in Toronto we see three types of agency…   Listing Agency - A listing agent who works exclusively on the seller’s behalf and whose job is to help the seller negotiate to get the best possible price Buyer Agency - A buyer agent whose duty is to work on behalf of the buyer, and help them get the best price and offer terms Dual Agency - A dual agent (one single agent) who repr...Read More

By: Thomas Cook

Protect Yourself From Mortgage Rate Increases For A Full 3 Months!

Protect Yourself From Mortgage Rate Increases For A Full 3 Months!

  Avoid Paying More Interest In A Rising Market… Lock In Today’s Low 5-Year Mortgage Rate Regardless Of What Happens In The Next 90 Days!   If you wait to fix or lock in a mortgage rate until just before you buy, you may end up spending thousands more in interest over the life of your mortgage.   Most people are not used to thinking four months ahead but, if you are considering purchasing a home in the next 90 days, it might be the prudent thing to guarantee yourself the lowest possible rate.   Historically lenders have often only been willing to lock in, or guarantee, the 5-year mortgage rate for 60 days. The problem with that is, for buyers purchasing a li...Read More

By: Thomas Cook

Is Our Market At A Turning-Point?

Is Our Market At A Turning-Point?

In May we had big time sales compared to last year with 9,989 houses and condominiums changing hands in all the districts.  Although the second lowest number since 2013, these numbers are up 29% over 2018.   Condo townhouse and high-rise suites took a lower 32.9% share of the market with 3,285 units being sold.   The May average sale price for all GTA homes came in at $838,540 – up a very surprising 3.6% from one year ago.  This average is now down just 2.7% from the average market high back in May 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 ...Read More

By: Thomas Cook

Serious About Selling? 5 Steps to Make Your Home the Best on the Block

Serious About Selling? 5 Steps to Make Your Home  the Best on the Block

We all want to be good neighbours. But when it comes to selling your home, it’s not just about “keeping up with the Joneses.” It’s about outshining them at every opportunity!   If you’re looking to sell your home fast and for the most money possible, you’ll need a strategy to set it apart from all the other listings competing for buyers in your area. That’s why we’ve outlined a proven, five-step plan for serious sellers.   Use these five tactics to help your listing get noticed, win over buyers, and net a higher sales price than your neighbours!   STEP 1: Stage Your Home to Show Its Full Potential   The average seller w...Read More

By: Thomas Cook

What Happens Between Offer Acceptance And Closing?

What Happens Between Offer Acceptance And Closing?

Once your offer has been accepted by the seller there’s often a rush (and a timeline) to complete a series of tasks.  Let’s review what needs to be done.   Deliver Your Deposit Money To The Listing Broker’s Office Once your offer has been accepted, we need to deliver that bank draft deposit immediately to the listing agent’s office to secure your purchase.  If we don’t do that immediately it may put your offer in jeopardy.   Our team will arrange to pick up the bank draft from you the very next day if we don’t have it already.  In some instances we have arranged to have our buyer wire transfer the deposit funds directly into the li...Read More

By: Thomas Cook

Not Sure How To Price Your Home? Avoid Mistakes With These Tips

Not Sure How To Price Your Home? Avoid Mistakes With These Tips

  NOT SURE HOW TO PRICE YOUR HOME? AVOID MISTAKES WITH THESE TIPS   What is “fair market value” and how do I determine it for my condo?   Simply put, the fair market value of a home is the highest price an informed buyer will pay for it, assuming there is no unusual pressure to complete the purchase. It usually is not the asking price.   To get an estimate of fair market value, call your real estate agent and ask for a Comparative Market Analysis (CMA) of your home. Most agents will provide this service free of any charge or obligation.   The analysis will give you a realistic price for your home based on the most salient points of the local real estate...Read More