By: Thomas Cook

Closing Costs For The Condo Seller

Closing Costs For The Condo Seller

There’s a lot to think about when you’re moving, so many of us forget to investigate the various costs associated with closing a deal.   Following is a summary, which was prepared with the assistance of a legal expert, that will give you a guideline for some of the costs you may incur when you are selling your condominium.   Generally, the closing costs associated with a sale are substantially less than those involved in a purchase.   Here’s The List...   Real Estate Commissions plus HST   Real estate commissions for agents working in the Toronto area are typically in the range of 4% to 5.5% of the sale price of the property, plus HST.   Legal ...Read More

By: Thomas Cook

Toronto house and condo sales numbers both hit records

Toronto house and condo sales numbers both hit records

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our MARCH 2021 Toronto real estate market report.   The March Toronto real estate market has AGAIN hit a number of records including the highest ever average sale price and the highest ever number of sales during the month.   So… let’s review some of the Toronto Real Estate Board statistics and see what’s happened.   Huge numbers came in once again for March with a record 15,652 sales of houses and condos across the GTA.  The next closest to this was way back in 2017 when we had 11,959 sales.  Low interest rates and high demand are continuing to boost our local mar...Read More

By: Thomas Cook

How to Amp Up The Resale Value of Your Home

How to Amp Up The Resale Value of Your Home

Whether you're putting your home on the market this year or in the next five years, it is a smart decision to start building your home's resale value now. Here are some ways to create a comfortable home while making it easier to put more money into your bank account on closing day.   Small Maintenance and Repairs   If you think that home maintenance on the weekends wastes your time and energy, think again. The small chores you do around your home prevent it from losing value. Neglecting small maintenance and repairs causes 10% of your home's value to walk out your door and slip through your windows. Most appraisers claim that homes showing little to no preventative main...Read More

By: Thomas Cook

Important Tips When Buying A Tenanted Condo

Important Tips When Buying A Tenanted Condo

With the condominium rental market so strong in Toronto, there’s a high probability that the condo you look at and fall in love with will be tenanted.   There are some advantages for you to look at tenanted suites IF you have a bit of imagination.    Why is this important?  Well, one reason is that a good proportion of tenanted suites will not show as well as an owner-occupied condo unit.  This will put off a number of prospective buyers who cannot see ‘through the dust’ as it were and give you a better chance to negotiate a good price.   If you like the layout and location of the condo unit, usually all that’s needed to make it show real...Read More

By: Thomas Cook

Toronto Home Prices Hit Highest EVER $$

Toronto Home Prices Hit Highest EVER $$

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our FEBRUARY 2021 Toronto real estate market report.   The February Toronto real estate market has hit a number of records including the highest ever average sale price and the highest ever number of sales during the month.   So… let’s review some of the Toronto Real Estate Board statistics and see what’s happened.   Huge numbers came in once again for February with a record 10,970 sales of houses and condos across the GTA.  The next closest to this was way back in 2017 when we had 7,950 sales).  Low interest rates and high demand are continuing to boost our local ...Read More

By: Thomas Cook

Is the Real Estate Market Going to Crash?

Is the Real Estate Market Going to Crash?

While many areas of the economy have contracted, the housing market has stayed remarkably strong. But can the good news last?   When COVID-related shutdowns began in March, real estate brokers and clients scrambled to respond to the shift. Record-low interest rates caused some lenders to call a halt to new underwriting, and homeowners debated whether or not to put their houses on the market. However, those first days of uncertainty ushered in a period of unprecedented growth in the Canadian residential real estate market, which currently accounts for a record-setting 9% of the country’s overall economic output.   Now, as the spring market approaches, you may be wondering whet...Read More

By: Thomas Cook

2nd Highest Average Sale Price – Condo Sales Making A Comeback

2nd Highest Average Sale Price – Condo Sales Making A Comeback

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our JANUARY 2021 Toronto real estate market report.   The 2021 Toronto real estate market has started off gangbusters with gains in some unexpected areas.   So… let’s review some of the Toronto Real Estate Board statistics and see what’s happened.   Big numbers came in once again for January as we’re now starting off the year with record sales of 6,928 sales of houses and condos across the GTA.  The next closest to this was way back in 2017 when we had 5,155 sales).  Low interest rates and high demand are continuing to boost our local market.   Sales wer...Read More

By: Thomas Cook

5 Inspiring Home Design and Remodelling Trends for 2021

5 Inspiring Home Design and Remodelling Trends for 2021

We’ve all spent a lot more time at home over the past year. And for many of us, our homes have become our office, our classroom, our gym—and most importantly, our safe haven during times of uncertainty. So it’s no surprise to see that design trends for 2021 revolve around soothing colour palettes, cozy character, and quiet retreats.   Even if you don’t have immediate plans to buy or sell your home, we advise our clients to be mindful of modern design preferences when planning a remodel or even redecorating. Over-personalized or unpopular renovations could lower your property’s value. And selecting out-of-style fixtures and finishes could cause your home to ...Read More

By: Thomas Cook

Will Applying For Mortgage Negatively Affect Your Credit Score?

Will Applying For Mortgage Negatively Affect Your Credit Score?

  When you apply for a mortgage, you must have your credit checked. It is the only way a mortgage company can really determine whether you can qualify for financing and what your rates and fees will look like.   If you are applying for multiple forms of credit at the same time, such as a credit card, a mortgage and an auto loan, such actions will negatively impact your credit score.   Each of these applications will generate a hard inquiry on your credit report, which could send a signal to lenders that you are having difficulty managing credit.   But you can avoid extra damage to your credit score if you apply for one form of credit at a time, and limit the time between...Read More

By: Thomas Cook

Imagine It's August 2021 - The Coming Tsunami

Imagine It's August 2021 - The Coming Tsunami

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our DECEMBER 2020 Toronto real estate market report.   The Toronto real estate market of 2020 has been a study in contradictions.  In the midst of a serious pandemic, all but three months (April thru June) showed double-digit increased sales from 2019.   So… let’s review some of the Toronto Real Estate Board statistics and see what’s happened.   Big numbers came in once again for December as we’re now ending the year with record sales of 7,180 sales of houses and condos across the GTA.  The next closest to this was way back in 2009 when we had 5,541 sales).&nb...Read More