Sign In
Save and Track Your Favourite Properties
Kevin W Lee
Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
- 416-992-3500
-
kevinw.lee@century21.ca
- 416-992-3500
- 905-471-2121
- 905-471-0832
- 165 Main Street North
Markham, ON L3P 1Y2
Welcome To Kevinwleeproperty.com
TOP 5% OF AGENTS ON THE TORONTO REAL ESTATE BOARD
TOP 6% OF CENTURY 21 AGENTS IN CANADA
2017 CENTURION PRODUCER AWARD WINNER
2017 PACESETTER GOLD AWARD WINNER
2017 AWARD OF EXCELLENCE FOR OUTSTANDING ACHIEVEMENT
Thank you to all my clients for making it such a success!
SOLD OVER ASKING!
219 REEVES WAY BLVD. STOUFFVILLE
SOLD!
11 FILBERT CT. STOUFFVILLE
Recent Solds And Active Properties
16 Stonesthrow Crescent
Uxbridge, ON L0C 1A0
Uxbridge, ON L0C 1A0
$1,468,000
5 Beds / 5 Baths
69 Havenview Rd
Scarborough, ON M1S 3A4
Scarborough, ON M1S 3A4
$999,998
8 Beds / 6 Baths
28 Lucida Court
Stouffville, ON L4A 1S1
Stouffville, ON L4A 1S1
$958,000
4 Beds / 3 Baths
64 Saffron St
Markham, ON L6E 1Y4
Markham, ON L6E 1Y4
$1,088,000
6 Beds / 5 Baths
219 Reeves Way Blvd.
Stouffville, ON L4A 0H7
Stouffville, ON L4A 0H7
$689,000
4 Beds / 4 Baths
19 Haroldcrest Lane
Stouffville, ON L4A 1T5
Stouffville, ON L4A 1T5
$998,000
5 Beds / 4 Baths
9 Stonesthrow Crescent
Uxbridge, ON L0C 1A0
Uxbridge, ON L0C 1A0
$1,438,000
4 Beds / 4 Baths
247 Almira Ave
Markham, ON L6B 0Z2
Markham, ON L6B 0Z2
$698,000
3 Beds / 2 Baths
43 Peppertree Lane
Stouffville, ON L4A 0M8
Stouffville, ON L4A 0M8
$878,000
3 Beds / 3 Baths
28 Rosebank Drive 307
Toronto, ON M1B 5Z1
Toronto, ON M1B 5Z1
$698,000
4 Beds / 3 Baths
186 Gar Lehman Avenue
Stouffville, ON L4A 1V6
Stouffville, ON L4A 1V6
$1,428,000
5 Beds / 5 Baths
40 Stonesthrow Crescent
Goodwood, ON L0C 1A0
Goodwood, ON L0C 1A0
$1,488,000
4 Beds / 4 Baths
22 Hawksbury Road
Markham, ON L6E 1W2
Markham, ON L6E 1W2
$1,588,000
4 Beds / 4 Baths
2 Creekland Ave
Stouffville, ON L4A 1T8
Stouffville, ON L4A 1T8
$999,888
5 Beds / 5 Baths
11 Filbert Ct
Stouffville, ON L4A 0R7
Stouffville, ON L4A 0R7
$1,180,000
5 Beds / 5 Baths
44 Stanley Greene Blvd.
Toronto, ON M3K 0A9
Toronto, ON M3K 0A9
$998,000
4 Beds / 4 Baths
28 Massie St
Scarborough, ON M1S 3Z6
Scarborough, ON M1S 3Z6
$788,000
4 Beds / 5 Baths
2 Stonesthrow Crescent
Goodwood, ON L0C 1A0
Goodwood, ON L0C 1A0
$1,338,000
4 Beds / 4 Baths
51 Lucida Court
Stouffville, ON L4A 1S1
Stouffville, ON L4A 1S1
$1,159,000
4 Beds / 3 Baths
New Mortgage Rule Changes
What You Need To Know
The Office of the Superintendent of Financial Institutions Canada (OSFI) published the final version of Guideline B-20 − Residential Mortgage Underwriting Practices and Procedures.
The revised Guideline, which comes into effect on January 1, 2018, applies to all federally regulated financial institutions.
- Mortgages are to be qualified at the greater of the BoC 5 yr Benchmark rate or the contract rate +2%
- Benchmark rate today 5.14%
- Previously, stress test requirements only applied to insured mortgages, variable mortgages and terms less than five years
- Applicable to Banks, Trust Companies, Monolines and all federally regulated lenders
Scenario
A family with an annual income of $100,000 with a 20% down payment at a 5 year fixed rate 3.09% amortized over 25 years can currently afford a home worth $725,000
Under the new rules, they need to qualify at 5.09%. Now they can only afford a home worth $600,000—a difference of $125,000
Market Stats March 2018
Communities
Cities
Toronto is the provincial capital of Ontario, and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. ...
Markham is a town in the Regional Municipality of York, located in the Greater Toronto Area of Southern Ontario, Canada. Markham is the largest town and ...
Richmond Hill is as diverse in its ethnicity as it is in its attractions. Experience international foods from one of hundreds of restaurants in the Town ...
Aurora is an affluent beautiful town in York Region, approximately 20 km north of Toronto. It is partially situated on the Oak Ridges Moraine, and ...
Whitchurch–Stouffville is a municipality in the Greater Toronto Area of Ontario, Canada, approximately 14 kilometres north of the City of Toronto. ...
BUY FIRST OR SELL FIRST?
BUY FIRST
- Hunting experience more enjoyable.
- You’ll have time to wait until the right home comes up for sale.
- Less stressful knowing that if your offer is unsuccessful, you can wait for the next opportunity to come up.
The downside
- Unable to sell your home fast enough, you will find yourself owning two homes at once.
- Could mean paying two mortgages at the same time, not to mention all the other costs of home ownership.
- Trouble securing a mortgage for the new home.
- As a buyer with an existing home to sell, you can protect yourself by making your offer conditional on the sale of your current home. That means if you’re unable to sell within a specified period of time, you’re able to back out of the transaction.
- Worth pointing out that this condition will likely make your offer less attractive to the seller, especially if you’re buying in an area with a hot market.
SELL FIRST
- Biggest benefit is that you will know how much money the sale brought in, which will help determine how much you can afford to pay for your next home.
The downside
- You'll find yourself in a race aganist the clock with your closing date looming and potentially no home to move into when you move out of your current home.
- You may end up rushing the buying process and settling for a home that isn't ideal for you or pay more than our planned because you fell pressured.
HAVE A CONTIGENCY PLAN
- Have a back-up plan in place in case you are left with two homes, or no home, for a period of time.
- If the sale of your home closes first, you might consider a short term rental or moving in with family or friends. This could be better than settling for a less-than-ideal home because you are rushed.
- If the purchase of your new home closes first, you might need something called “bridge financing” to cover the down payment and other closing costs until the sale of your current home closes.
- No matter which option you choose, it’s important to remember that a registered real estate professional is knowledgeable about market conditions and will offer advice and solutions to guide you through the process
- They will be able to discuss various scenarios to make sure you have realistic expectations about what may happen and help you come up with a plan that works for you and your growing family.