By: Thomas Cook

Avoid Anxiety When Applying For A FULL Mortgage Pre-Approval

Avoid Anxiety When Applying For A FULL Mortgage Pre-Approval

A pre-approval VS a full mortgage pre-approval… they sound the same but they’re very different.   Every realtor has had a client who thinks they have been pre-approved only to find out they cannot qualify for the homes they have been looking at.  Often this does not become clear until the buyer has wasted way too much of their time looking at properties they have no chance of qualifying for.   And often clients get a pre-approval certificate from a bank that has a long list of conditions attached.    What many banks do when qualifying a buyer for a mortgage is to just ask a few basic questions such as, “What is your annual income?”, and, &ld...Read More

By: Thomas Cook

Successful Ways To Avoid Dreadful Scarcity Thinking

Successful Ways To Avoid Dreadful Scarcity Thinking

This is a BIG one… getting rid of the accumulation of years of stuff!  Sometimes it is piles of books, newspapers and other paraphernalia that have built stacks and other times it is extra furniture or kids toys that have grown in numbers. Either way, the goal is to slim down, dispose of LOTS of stuff and put items into storage that you will want in your new home.   By creating more ‘space’ you’ll be making your condo suite seem larger than it might be and larger sells.  You will also have eliminated a lot of your personal things making it more attractive to the buyer. Many folks find it easier to begin with clearing out their condo locker, an area ...Read More

By: Thomas Cook

Toronto's Average Sale Price Is 'Bouncing Along The Bottom'

Toronto's Average Sale Price Is 'Bouncing Along The Bottom'

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our November 2022 Toronto real estate market report.   The November average sale price continued the trend we’ve seen for the last five months.   Let’s review some of the Toronto Real Estate Board statistics and see what’s happened.   The last time November sales numbers came in this low (4,544 sales of houses and condos across the GTA), towards the end of the fall market was all the way back in 2008, 14 years ago, when we got hit with that big recession and US bank meltdown.  This was 49.5% below November sales in 2021.   Condo townhouse and high-rise suite sales mi...Read More

By: Thomas Cook

Toronto's Sales Numbers Lowest In 22 Years

Toronto's Sales Numbers Lowest In 22 Years

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our October 2022 Toronto real estate market report.   The most dramatic statistic for October is the big drop in downtown condo sales.   Let’s review some of the Toronto Real Estate Board statistics and see what’s happened.   The last time October sales numbers came in this low (4,961 sales of houses and condos across the GTA), in the middle of the fall market was all the way back in 2000, 22 years ago.  This was 49% below October sales in 2021.   Condo townhouse and high-rise suite sales mirrored that of the overall market and were lower by almost 57-60%.  Overall, 1...Read More

By: Thomas Cook

Toronto's Average Sale Price Up Fractionally Over Summer Months

Toronto's Average Sale Price Up Fractionally Over Summer Months

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our September 2022 Toronto real estate market report.   For the first time this year, the average sale price year-over-year slipped into negative territory.   Let’s review some of the Toronto Real Estate Board statistics and see what’s happened.   The last time September sales numbers came in this low (5,038 sales of houses and condos across the GTA), at the start of the fall market was all the way back in 2001, 21 years ago.  This was 44% below September sales in 2021.   Condo townhouse and high-rise suite sales mirrored that of the overall market and were lower by almost...Read More

By: Thomas Cook

Toronto's Market Stabilized In August With Fewer Listings

Toronto's Market Stabilized In August With Fewer Listings

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our August 2022 Toronto real estate market report.   Fewer listings in August caused the market to sustain some momentum resulting in a flat average sale price month over month.   Let’s review some of the Toronto Real Estate Board statistics and see what’s happened.   The last time August sales numbers came in this low (5,627 sales of houses and condos across the GTA), at the end of a summer market was all the way back in 2002, 20 years ago.  This was 34% below August sales in 2021.   Condo townhouse and high-rise suite sales mirrored that of the overall market and were lo...Read More

By: Thomas Cook

This summer is a write-off but what’s the outlook for the fall?

This summer is a write-off but what’s the outlook for the fall?

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our July 2022 Toronto real estate market report.   July gave us some sales numbers that were the lowest in over two decades. How long will this last and when will a recovery (of sorts) start?   Let’s review some of the Toronto Real Estate Board statistics and see what’s happened.   The last time July sales numbers came in this low (4,912 sales of houses and condos across the GTA), at the end of a typical busy spring market was all the way back in 2000, 22 years ago.  This was 47% below July sales in 2021.   Condo townhouse and high-rise suite sales mirrored that of the ove...Read More

By: Thomas Cook

Do Condo Owners Need Insurance?

Do Condo Owners Need Insurance?

There are two kinds of insurance when it comes to a condominium.   The first is insurance for the entire condominium building including the suites and the common elements.  It includes coverage for interior suite features, such as granite counters, kitchen cabinets, hardwood floors etc IF they were installed originally by the builder.  The building insurance covers the replacement or repair of any of these elements due to fire, flood or any other kinds of damage.   But what that insurance doesn’t cover are the condo owner’s property inside the suite in case of fire, smoke or water damage, nor liability if someone in your unit is injured and sues you. It also d...Read More

By: Thomas Cook

Dramatic Market Shift – Are We At The Bottom Now?

Dramatic Market Shift – Are We At The Bottom Now?

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our June 2022 Toronto real estate market report.   We’ve seen a dramatic shift in our Toronto market over the last few months as sales have dropped and listing inventory has risen.  Have we hit bottom yet?   Let’s review some of the Toronto Real Estate Board statistics and see what’s happened.   The last time June sales numbers came in this low (6,474 sales of houses and condos across the GTA), at the end of a typical busy spring market was all the way back in 2000, 22 years ago.  This was 41% below June sales in 2021.   Condo townhouse and high-rise suite sales...Read More

By: Thomas Cook

Bright Ideas For Making Successful Lighting Choices

Bright Ideas For Making Successful Lighting Choices

Unfortunately many condo builders simply install the cheapest ceiling fixtures possible when they construct and sell suites so it’s up to the owner to make some lighting changes that will enhance the buyer’s experience. Remember, if the buyer can’t see it, they’re not going to like it. The first step is to enhance any natural light that’s available.  Heavy window coverings should be pulled back all the way, shutters should be opened and vertical/horizontal blinds set for maximum light. In most cases you should do this day and night if there’s a view out your windows.  In an ideal world, you’d have blinds that adjust from the bottom up AN...Read More