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

By: Thomas Cook

New Year, New Home? Set Homeownership Goals Whether You’re Buying, Selling, or Staying Put

New Year, New Home? Set Homeownership Goals Whether You’re Buying, Selling, or Staying Put

The start of a new year always compels people to take a fresh look at their goals, from health and career to relationships and finance. But with historically low mortgage rates, increased home sales and price growth, and a tight housing inventory, the time is right to also make some homeownership resolutions for 2021. Read on to discover key action steps to take to achieve your homeownership goals this year, whether you’re a home buyer, home seller, or a homeowner not yet planning on moving. Resolution #1: Qualify for a better mortgage with a higher credit score. Your credit report highlights your current debt and bill-paying history and is used to calculate your credit score, affec...Read More

By: Thomas Cook

Planning A Stress-Free Move

Planning A Stress-Free Move

PLANNING A STRESS-FREE MOVE   Let’s face it: Moving is NEVER fun! But you can make it a lot less stressful and as hassle- free as possible! For starters, use this guide for general information and the handy checklist to get yourself well organized.   How To Choose A Moving Company...    First, whether your move is local or long distance, choose a properly licensed and bonded company!  Although each moving company’s rules may vary, generally a local move is considered to be within an 80 km radius of the company’s base.   Get referrals from friends or family and call the Canadian Association of Movers for the background of the company you are con...Read More

By: Thomas Cook

It’s A Tale Of Two Markets…

It’s A Tale Of Two Markets…

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our NOVEMBER 2020 Toronto real estate market report.   We’ve had some exceptional highs and some surprising lows in November.   So… let’s review some of the Toronto Real Estate Board statistics and see what’s happened.   Big numbers came in once again for November as we’re now ending the fall market with record sales of 8,766 sales of houses and condos across the GTA.  Low interest rates and high demand are continuing to boost our local market.   Sales were up 24% from November 2019.   Condo townhouse and high-rise suite sales were up by 12% with a ...Read More

By: Thomas Cook

10 Ways to Give Back to Our Local Community This Holiday Season

10 Ways to Give Back to Our Local Community This Holiday Season

This year has demonstrated, perhaps more than ever, the importance of our family, friends, neighbours, and community. It truly “takes a village” to keep a community functioning effectively, whether that’s by keeping our waterways clean, feeding the hungry, teaching our kids, or supporting small businesses.   With the holidays right around the corner, December offers the perfect opportunity to give back to the place we call home. You might want to focus your efforts near home, expand to our larger community, or even help support the people closest to you. Whether you’re passionate about a particular cause or just want to get more involved in general, let these 10 ...Read More

By: Thomas Cook

The Consumer’s Guide to Hiring an Amazing Real Estate Agent

The Consumer’s Guide to Hiring an Amazing Real Estate Agent

When you’re buying or selling a home, it’s crucial to work with a qualified real estate agent. Not just a professional, but an amazing agent and a market expert. So how do you ensure you’re hiring an amazing real estate agent?   There are currently more than 55,000 real estate professionals registered with the Toronto Regional Real Estate Board.  With so many options to choose from, how does a prospective house or condo buyer or seller choose the right agent or broker?  According to TRREB, trust and reputation are the top deciding factors consumers use when hiring an agent.   But how do you measure trust and reputation... and what criteria can be used to...Read More

By: Thomas Cook

Record October sales and highest average sale prices… but downtown condo inventories up by 250%

Record October sales and highest average sale prices… but downtown condo inventories up by 250%

Big numbers came in once again for October as we’re now into the fall market with record sales of 10,563 sales of houses and condos across the GTA.  Low interest rates and high demand are continuing to boost our local market.   Condo townhouse and high-rise suite sales were up by 8.6% with a 29.5% share of the market and 3,113 units being sold.  Although not a record, October 2020 sales were only exceeded by those in 2016 (by just over 300 suites).   The October average sale price for all GTA homes came in at $968,318… a big 13.7% increase compared to one year ago.   The active listing inventory is one of the strongest indicators of how slow or fast the ...Read More

By: Thomas Cook

The New Normal: A Strong Housing Market Expected to Continue into 2021

The New Normal: A Strong Housing Market Expected to Continue into 2021

Circumstances like a once-in-a-hundred-years pandemic and historic inventory shortages might have made you assume that the housing market would lose steam, but there is plenty of evidence to the contrary. As Canadian Real Estate Association (CREA) senior economist, Shaun Cathcart noted, “records [are continually] being broken” in the residential property market.   Indeed, rather than a slowdown, we are continuing to experience a surprisingly robust real estate market across the country. And experts estimate that these conditions are likely to last into the new year. TD Bank Group Economist Rishi Sondhi predicts that high home prices will persist for the rest of 2020.   ...Read More

By: Thomas Cook

The Home Equity Playbook

The Home Equity Playbook

  What is Home Equity? Home equity seems to be a very simple calculation — the total amount of mortgages owed subtracted from the current market value of a home. Here is a simple example:   Current Home Market Value                $825,000 Existing Mortgage                               $600,000 Homeowner Equity                             $225,000   ...Read More

By: Thomas Cook

How To Get An Awesome New Credit Rating

How To Get An Awesome New Credit Rating

If you are thinking about buying a home and obtaining a mortgage, one of the first things to consider is your personal credit rating. Building a good credit history is important. If you have no reported credit history, it may take time to establish your first account.   This problem affects young people just beginning careers as well as older people who have never used credit. It also affects divorced or widowed spouses who shared credit accounts and were reported only in the other spouse’s name.   You may also have poor credit or a recent bankruptcy and need to restore your credit profile. Do not apply for a loan, or even think of obtaining a mortgage until you have firmly e...Read More