New Mortgage Qualification Rules – Unintended Consequences

When the federal government introduced ‘stress test’ rules in early 2018, the intention was to make sure that buyers would be able to afford their mortgage payments should interest rates increase by the time they need to renew. Basically, the new rules require that buyers prove that they could afford to buy their home if… Read More

Financial Don’ts When Getting Ready To Buy A Home

If you’re in the process of buying a home, you’ve probably already met with a lender who advised you on what to do and what not to do during the escrow process. But if you’re just getting ready to buy or plan on doing so in the near future, following a few financial tips can… Read More

The Critical First Two Weeks of Marketing Your Home For Sale

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

Toronto Market Ends 2018 On A Quiet Note

Toronto area sales and prices were down in December, as they always are at year-end, closing out a positive and mostly uneventful year when the real estate market returned to quiet stability after the chaos of the 2016/2017 bubble inflation and collapse. For the year as a whole, average GTA prices were down 4% vs… Read More

Toronto Homes Among the Most Overvalued in the World

The Economist magazine has published a very cool interactive chart that allows you to see at a glance how home prices in major cities around the world compare to each other over the past 20 years, and how ‘overvalued’ they are in terms of the ratio of price to household income. As you can see… Read More

CREA Forecasts Higher Prices & Sales for Ontario in 2019

The Canadian Real Estate Association (CREA) is Canada’s national association of real estate agents, similar to the National Association of Realtors (NAR) in the United States. Among other services, CREA publishes data on MLS sales across the country and has recently published their province-by-province forecasts for home prices and sales volumes in 2019 (see charts… Read More