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...Read More

By: Thomas Cook

Top 5 Home Design Trends For A New Decade

Top 5 Home Design Trends For A New Decade

Whether you’re planning a simple refresh or a full-scale renovation, it’s important to stay up-to-date on the latest trends in home design. Sellers who make tasteful updates can generate increased buyer interest and, in some cases, a premium selling price. And buyers should consider which features of a home will need updating immediately (or in the near future) so they can factor renovation costs into their overall budget.   Even if you have no immediate plans to buy or sell, we advise our clients to be thoughtful about the colours, materials, and finishes they select when planning a remodel, or even redecorating. Choosing over-personalized or unpopular options could hurt a ...Read More

By: Thomas Cook

Highest Ever Average Sale Price

Highest Ever Average Sale Price

In February sales were up 45.5% compared to last year with 7,256 houses and condominiums changing hands in all the districts.   Condo townhouse and high-rise suite sales were up by 27.5% with a 33% share of the market and 2,392 units being sold.   The February average sale price for all GTA homes came in at $910,290, up 16.7% from one year ago.   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 February compared to historical numbers was lower by a huge 33.6% compared to last year at this time.   This inventory imbalance is causing price increase in many, but not al...Read More

By: Thomas Cook

The Home Buyer's Guide to Getting Mortgage Ready

The Home Buyer's Guide to Getting Mortgage Ready

Don’t wait until you’re ready to move to start preparing financially to buy a home.   If you’re like the vast majority of home buyers, you will choose to finance your purchase with a mortgage loan. By preparing in advance, you can avoid the common delays and roadblocks many buyers face when applying for a mortgage.   The Office of the Superintendent of Financial Institutions (OSFI) issued new mortgage guidelines, which went into effect at the beginning of the year and raised the standards for mortgage applicants. The requirements may seem overwhelming, especially if you’re a first-time buyer. But we’ve outlined three simple steps to get you started on ...Read More

By: Thomas Cook

What Condo Features Should You Consider When Buying?

What Condo Features Should You Consider When Buying?

(Layout, light, view, balcony, parking/locker, any upgrades necessary, % of tenants vs owners, bldg security, bldg amenities)   Buying a condo suite in a low- or high-rise building has some similarities and some differences to buying a house.  You’re not concerned directly with some of the physical attributes of the building such as the age of the roof and furnace or is there water leaking though the foundation into the basement.   Typically a buyer is more concerned with the interior of the suite and the building’s amenities and security.  You do want to know about the physical state of the building from an analysis of the Reserve Fund Study which comes with ...Read More

By: Thomas Cook

January Delivered Near-Record Y-O-Y Appreciation 

January Delivered Near-Record Y-O-Y Appreciation 

In January sales were up 15.3% compared to last year with 4,581 houses and condominiums changing hands in all the districts.   Condo townhouse and high-rise suite sales were up by 13.8% with a 38.3% share of the market and 1,753 units being sold.   The January average sale price for all GTA homes came in at $839,363, up 12.3% from one year ago.   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 January compared to historical numbers was lower by a huge 35% compared to last year at this time.   This inventory imbalance is causing price increase in many, but not all, ...Read More

By: Thomas Cook

Take Advantage of Your Home Equity: A Homeowner’s Guide

Take Advantage of Your Home Equity: A Homeowner’s Guide

  Homeownership offers many advantages over renting, including a stable living environment, predictable monthly payments, and the freedom to make modifications. Neighbourhoods with high rates of homeownership have less crime and more civic engagement. Additionally, studies show that homeowners are happier and healthier than renters, and their children do better in school.   But one of the biggest perks of homeownership is the opportunity to build wealth over time. Researchers at the Urban Institute found that homeownership is financially beneficial for most families, and a recent study showed that the median net worth of homeowners can be up to 80 times greater than that of r...Read More

By: Thomas Cook

We Might See These Typical Clauses In Any Condo Offer

We Might See These Typical Clauses In Any Condo Offer

  Although almost any clause can be added to an Agreement of Purchase And Sale, there are several standard clauses we typically encounter that you should know about.   It’s best to discuss these with your Realtor ahead of time so there’s no misunderstanding or confusion about them when it’s time to review an offer (or offers) on the table.   Seller warranty that all appliances, etc are / and will be in good working order on closing... The Seller represents and warrants that the chattels and fixtures as included in this Agreement of Purchase and Sale will be in good working order and free from all liens and encumbrances on completion. The Parties agree that th...Read More

By: Thomas Cook

Avoid These Six Common Rent Collection & Eviction Mistakes

Avoid These Six Common Rent Collection & Eviction Mistakes

There’s not a landlord who’s been in business for long who hasn’t had a tenant fail to pay on time — or at all. When it happens, the speed and consistency of the landlord’s response will statistically dictate their success.   There are really only two types of actions a landlord can pursue: chasing the tenant for payment or eviction. Errors and mistakes abound, so let’s talk about some of them.   1. Irregular Enforcement of Rules   One of the great powers that we have as landlords is deciding when to let something slide and when to really come down hard on a tenant. The response to a failure to pay, as well as the enforcement of late fees an...Read More

By: Thomas Cook

The YEAR of the comeback.

The YEAR of the comeback.

In December sales were up 16.3% compared to last year with 4,399 houses and condominiums changing hands in all the districts.   Condo townhouse and high-rise suite sales were up by 6.8% with a 36.1% share of the market and 1,590 units being sold.   The December average sale price for all GTA homes came in at $837,788, up 11.8% from one year ago.   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 December compared to historical numbers was lower by a huge 35% compared to last year at this time.   This inventory imbalance is causing price increase in many, but not all...Read More