By: Thomas Cook

How To Make Awesome Decisions When Selling And Buying Together

How To Make Awesome Decisions When Selling And Buying Together

HOW TO MAKE AWESOME DECISIONS WHEN SELLING AND BUYING TOGETHER   Sometimes we forget that most people aren't just a buyer or seller when it comes to real estate. The majority of those in the home buying or home selling process - with the exception of first-time buyers - are actually doing both at the same time, which can be a bit overwhelming. It is often a bit of a "chicken or the egg" question for homeowners: whether they should focus on selling their home first and then buying a home, or buy first and sell once they've secured a new one. The perceived dilemma is that if you sell first, you might not have anywhere to live while you look for your new home. If you bu...Read More

By: Thomas Cook

Becoming A Toronto Property Investor

Becoming A Toronto Property Investor

BECOMING A TORONTO PROPERTY INVESTOR   Buying a rental property is a great way to increase wealth and invest in the real estate market.   A little planning and using a real estate professional along with a mortgage professional will help make this process a smooth and successful one.   Every market is different but the basic goal is the same… how to have your money make you money.   With a rental property, lenders consider not only the borrower’s income, expenses and their credit rating but the rental potential of the property itself.   If you’re looking at purchasing a multi-unit building (up to 4 units), an analysis of the income and expenses pla...Read More

By: Thomas Cook

Have We Turned A Corner?

Have We Turned A Corner?

Sales were up 6% for October compared to last year with 7,492 houses and condominiums changing hands in all the districts.  This was the 2nd lowest number of sales for the month in the past 5 years. Condo townhouse and high-rise suites took a significant 35.4% share of the market with 2,653 units being sold. The October average sale price for all GTA homes came in at $807,340– this was a modest 3.5% increase from one year ago.  Considering that May/June/July 2017 was the turning point in last year’s crazy market, if instead you compare 2018 with October 2016 (with an average of $762,747), this year’s average was still up 5.8% in that 2-year p...Read More

By: Thomas Cook

Get A Credit Card For Your Mortgage

Get A Credit Card For Your Mortgage

At a time in our market cycle when multiple offers are common and sellers are in control of the offer process, it’s more important than ever to secure your financing commitment before you start going out to look at homes.   But there’s a misconception about what that secure commitment entails.   What many banks do when qualifying a buyer for a mortgage is to just ask a few questions such as, “What is your annual income?”, and, “What are your debts?”.  Then they will give you one of two things... a verbal quotation on how much you can borrow OR a written “Quick Qualifier”.   The problem with both of these is that they are con...Read More

By: Thomas Cook

Know You Want To Sell But Dread All Those Showings?

Know You Want To Sell But Dread All Those Showings?

SELL YOUR CONDO IN AS LITTLE AS 24 HRS - AND LAUGH TO YOURSELF AT HOW EASY IT WAS! If you're going to be selling your condo in the next 6 months, what you might not realize is that the new buyer for your condo is already starting to look for homes. Every month we have hundreds of calls and emails from people who are just now starting to look for homes and are contacting us for helpful information. We help these buyers by sending them updates on all the homes that come on the market (and homes that are not quite on the market yet). That’s how we may be able to help you sell your condo for top price in as little as 24 hours - without even putting it on the market....Read More

By: Thomas Cook

Worried About Getting A Mortgage Approval If You’re Self-Employed?

Worried About Getting A Mortgage Approval If You’re Self-Employed?

Being self-employed (Business-For-Self or BFS in industry terms) can make it challenging to be approved for any type of financing.   You are considered to be a BFS applicant if you own the majority of a company, are on contract or are running a business where you are a sole practitioner.   Because the BFS applicant’s declared (for tax purposes) income is sometimes a fraction of their real total income, it often becomes difficult to determine the client's true income.   Credit card companies and banks ask many more questions of a BFS applicant than if you are employed by a company on a fixed salary with a strong employment history.  Mortgage lenders are no differ...Read More

By: Thomas Cook

Are Toronto home prices really that unaffordable?

Are Toronto home prices really that unaffordable?

Sales were barely up for September compared to last year with 6,455 houses and condominiums changing hands in all the districts.  This was the 2nd lowest number of sales for the month since September 2012. Condo townhouse and high-rise suites took a significant 35.4% share of the market with 2,286 units being sold. The September average sale price for all GTA homes came in at $796,786– this was a modest 2.9% increase from one year ago.  Considering that May/June/July 2017 was the turning point in last year’s crazy market, if instead you compare 2018 with September 2016 (with an average of $756,168), this year’s average was still up 5.4% in that 2-year period.&nb...Read More

By: Thomas Cook

The art of leveraging

The art of leveraging

For some people, just owning one property and having a single mortgage is enough to handle. But for others, homeownership can be a gateway to owning multiple investment properties. You might be thinking: there’s no way I can turn the value of my modest home into a real estate empire. Ok, maybe not an empire, but you can take the equity of your home and, with the right investment, get a return far greater than a stock portfolio.   Most people are trained to stay out of debt and don’t want to consider using the equity in their home to buy an investment property. But they haven’t realized the art of leveraging.   If you’re using equity from your primary res...Read More

By: Thomas Cook

Should You Get A Condo Inspected

Should You Get A Condo Inspected

SHOULD YOU GET A CONDO INSPECTED?   Historically for house purchases, there have been two primary conditions that most offers have included.  They are conditions on   Financing Home inspection If you’re buying a condominium townhouse, you’d certainly want to have an inspection which would include the exterior features of the premises such as the roof and windows, and all the interior systems such as heating, cooling, central vac, plumbing and wiring.   A home inspection is more optional for a high-rise condominium suite because it doesn’t have all of those systems. In this situation the inspector is not concerned with the status of the underground pa...Read More

By: Thomas Cook

Magic Formula For Home Selling Success

Magic Formula For Home Selling Success

The PPPN Principles For Listing Your Home Every industry has its particular formulas for success and real estate is no exception. These formulas are, for the most part, not taught in any real estate school or seminar, although they are not a secret to the most successful Realtors in the business. If you asked them, most agents wouldn’t even be able to tell you what the successful formula is for getting a client’s listing sold for the best possible price. The formula that we’ve created is PPPN, which stands for Pricing, Presentation, Promotion and Negotiation. All four components are decisive for getting your home sold in any type of market!  It requires the owner a...Read More