Will New Mortgage Rules Disrupt the Market?

Last October, the federal government introduced mortgage rules that required anyone needing mortgage insurance (less than 20% down payment) to pass a ‘stress test’ to prove that they could afford the payments if mortgage rates were to increase. The Bank of Canada’s posted rate, approximately 2% higher than the rates actually available, was chosen as… Read More

Home Ownership: Marriage vs Common Law

Unhappy Couple

Do you assume the house or cottage you share with your life partner belongs to both of you, or are you positive you understand who holds legal ownership? Assumptions can be expensive when it comes to money and real estate. “The garden is as much mine as yours,” yelled one homeowner to his spouse when… Read More

What To Do Before You List Your Home For Sale

To Do List For Getting Your Home Ready to Sell

Today’s market presents some very unique opportunities for buyers. With affordability near record highs and interest rates near record lows, many homeowners are making the decision to move up or on. Here a few simple tips to take into consideration when listing your home for sale. 1. Curb Appeal: Buyers make snap judgments about each… Read More

Your Dream Home Wish List

Dream Home

There are millions of homes for sale. How do you know which is the right one for you?  The key to getting just the right fit is to develop a wish list. From the lifestyle you want to live to the style of home that best fits your needs, a wish list is a great… Read More

What You Should Know About Buying and Selling Real Estate If You’ve Been Out Of The Market For A Long Time

Photo for Downsizing Article

If you’ve owned your current home for many years, you may find that a lot has changed in the real estate world. Understanding what has changed can come in handy when you’re entering the market for the first time in a while. Here are a few of the key ways the real estate marketplace has… Read More

Multiple Representation in Selling and Buying Homes

Real Estate Agent with Clients

When a home is sold, there are typically two real estate agents involved: one representing the seller (the ‘listing agent’) and one representing the buyer (the ‘buyer agent’). Another common situation is where one real estate agent represents both the buyer and seller, for example, when a buyer without an agent comes to an open… Read More

The Critical First Two Weeks of Marketing Your Home For Sale

Brokers share their listings with other brokers in the multiple listing service (MLS) under certain rules of cooperation and compensation. One of the rules of cooperation is that each broker and agent make a new listings available to other MLS members within 24 or 48 hours of signing the listing agreement with the seller. This… Read More

As If Bidding Wars Weren’t Bad Enough – Now We Have Escalation Clauses

The super-hot Toronto area market has been rife with bidding wars over the past 1-2 years, as buyers have greatly out-numbered sellers in competing for the dwindling supply of homes for sale. These competitive auctions can be a nightmare for buyers, as the bids are “blind”, meaning that competing bidders only know how many other… Read More

Will The Ontario Fair Housing Plan Slow The Toronto Market?

On April 20, the Ontario government announced a 16 point package of measures designed to “help more people find affordable homes, increase supply, protect buyers and renters and bring stability to the real estate market”. Interestingly, if predictably, none of  these measures are designed to help or protect sellers or landlords. The key points are:… Read More

Moving On… Packing Up The Memories

Senior Couple Packing

You have decided to downsize.  You no longer want the responsibility, expense or maintenance of a family home; it is too big now that the kids are gone and you want to start relaxing.  You have found the perfect spot.  It is smaller, but you don’t need as much space.  You don’t need to maintain… Read More