Buying a home? Here are some things you need to know
The spring house hunt is now well underway, and with rates at historic lows, homebuyers are actively looking at properties in markets across the GTA. For most Canadians, buying a home is the single largest financial transaction they will ever encounter and it’s critical that prospective homebuyers prepare themselves before ...
Posted by John Siarkas
on May 29, 2011
How Credit Score Affects Your Mortgage Rate
Your credit score is a judgment about your financial health, at a specific point in time. It indicates the risk you represent for lenders, compared with other consumers.
Your credit file is created when you first borrow money or apply for credit. On a regular basis, companies that lend money or issue credit cards to you — including banks, finance ...
Posted by John Siarkas
on May 13, 2011
It's always a tough decision. Do i buy first or do I sell first? Some people try to catch the market at the right time to sell high and then wait to buy lower. Others are more comfortable with buying first; this way they know they have found what they like. How do you know what works best for you?
In the past, the common thought process was to sell first to ...
Posted by Dan Wasserman
on May 7, 2011
Staging Your Home For a Faster Sale
When selling your home, it is important to take advantage of every trick in the book to get your home sold as quickly as possible and for top dollar. One of these methods is called "Home Staging".
Home Staging is a proven system for preparing properties for sale. It helps to make your house seem bigger, brighter, cleaner and an ideal dwelling ...
Posted by John Siarkas
on April 18, 2011
Most major banks in Canada have announced that their 5 and 10 year mortgage rates are going up. This was done in anticipation of the central bank raising it's prime rate.
The result of higher rates may be a slowdown in the real estate market.
The market has been hot in the winter months and activity normally increases during the spring. The rise in interest rates may cause ...
Posted by Rafael Zeltser
on April 6, 2011
What to choose?
Do you go with a variable mortgage or a fixed-rate mortgage? Do you go 3 year, 5 year, 10 year or go 1 year.
These are some of the most difficult questions when deciding how much money to borrow and at what rate to borrow. Most posted rates are not the lowest a bank or a mortgage lender will go, make sure to try to negotiate a lower rate. Shop around, ask many ...
Posted by Dan Wasserman
on April 4, 2011
The Sheraton Parkway Toronto North buzzed with excitement tonight. Hundreds of Markham's finest players filled the Grand York Ballroom to celebrate the 30th annual year end banquet for this proud organization. Here two of the Minor Atom 'A' s share a happy moment before the golf season begins.
Posted by Eva Walker
on April 4, 2011
If you want to buy a condo in an existing building, it is wise to do the following:
1. Find out who is on the board of directors of the condominium corporation and speak to them about the pros and cons of the building.
2. Speak to other owners to get their impressions of living there.
3. Speak with the owners of the units adjacent to, above and below the unit you are interested in buying. ...
Posted by John Siarkas
on April 2, 2011
WHAT’S HAPPENING? March 2011
By Gitta Levi, Broker, Century 21 Heritage Group Ltd.
Still confused about what’s happening in today’s Real Estate Market? Some properties and some areas of the GTA (Greater Toronto Area) are getting multiple offers, selling for over the asking price. In general, the homes are in neighbourhoods that have traditionally sold that way; ie., the Beaches, ...
Posted by Gitta Levi
on March 23, 2011
New mortgage rules set by the Canadian government will come into effect on March 18, 2011. The new rules are as follows:
The maximum amortization period for a government-insured mortgage was lowered from 35 to 30 years.
The maximum borrowing limit on mortgage refinancing was reduced from 90% to 85%. (i.e. during the refinancing, homeowners cannot borrow more than 85% of the value ...
Posted by Rafael Zeltser
on February 23, 2011