Thursday, February 08, 2018 / by Todd Eves
FIRST-TIME HOMEBUYERS’ FIVE BIGGEST MISTAKES
Buying a home for the first-time is an exciting time. You’re making quite possibly the most significant financial transaction of your lifetime. You’re also making the exciting jump from renter to homeowner. While buying a home is something to celebrate, it’s important to do your homework. As a property virgin, this experience is entirely new to you. The last thing you’d want to do is make a mistake that will cost you dearly. Here are five of the biggest mistakes first-time homebuyers are prone to make and how to avoid them.
Mistake #1: Buying Too Much Home
Before house hunting, it’s a good idea to get pre-approved for a mortgage. When you’re pre-approved, you’ll know exactly how much you can afford to spend on a home.
Your mortgage broker is going to tell you the maximum amount you can spend, but keep in mind, that doesn’t mean that you sh ...
Thursday, February 01, 2018 / by Todd Eves
January 30, 2018 -- TREB is proud to announce the release of our third annual Market Year in Review & Outlook Report – viewable in a handy flip version or downloadable PDF.
This year's report, subtitled Steering the Way to Housing & Transportation Diversity in the Greater Golden Horseshoe, explores some of the most important issues affecting our industry today.
A must-read for Members looking to gain new insight on the GTA housing market, as well as the policies and economic issues that impact the wider GGH, this in-depth report is informed by hard-data and groundbreaking research from TREB and our partners and will engage you from cover to cover.
Some of the exciting content and topics you can read about in this year' s report include:
Market Year in Review: The Market in 2017
A look at how the market unfolded in 2017, featuring a review of TREB MLS® System statistics and TREB-commissioned Ipsos surveys of homeowners ...
Tuesday, January 30, 2018 / by Todd Eves
The lowest unemployment rate in more than 40 years, likely interest rate hikes on their way, and a mixed real estate sector creates both opportunities and risks for real estate. Here's the latest snapshot of southern Ontario real estate:
Unemployment hits 40 year low at 5.7%, not seen since 1976
The unemployment rate was expected to remain the same in December and some economists were expecting an increase of only 1,000 jobs when almost 80,000 were created. This will likely put intense pressure on the Bank of Canada to increase rates from 1% to 1.25%.
Average home price remains the same at the end of 2017 as 2016
The average sale price of a home in Toronto for the end of 2017 was $735,021.00, essentially the same range of where it was in Dec. of 2016 ($730,124.00).
Monthly sales in December of 2017 down from December 2016 numbers
Sales were down to 4,930 last month compared to a year earlier, where ...
Wednesday, January 24, 2018 / by Todd Eves
Canada remains one of the bright stars in the global real estate market despite a slowdown in 2018.A new report from Fitch gives Canada a stable/negative rating as low arrears clash with rising house prices which are at risk of declining. It’s forecast for 2018 is for prices to rise 5% (around half of 2017’s increase) and for mortgage arrears to remain at the 0.3% level of 2017.However, it warns that Vancouver and Toronto’s price rises make them increasingly vulnerable to a correction.The report highlights the relative affordability of household debt in recent years due to low-interest rates but notes that this led to tighter mortgage lending rules from OSFI and CMHC.Fitch is calling for a rise in interest rates of 50 basis points for each of 2018 and 2019 and for mortgage credit growth to be 3% per year.Despite the rising home prices and highly-leveraged households, Fitch says that the financial infrastructure in Canada is well protected due to mortgage insuranc ...
Friday, January 19, 2018 / by Todd Eves
We’ve been told not to judge a book by its cover, but first impressions usually impact our decision-making, whether we care to admit it or not.
Therefore, a well-staged home typically has a better chance of selling at a higher price than one that hasn’t been staged.
We reached out to our RE/MAX Influencers—a panel consisting of RE/MAX Sales Associates from throughout Canada—to discover why sellers shouldn’t have “stage fright” when it comes to selling their home.
Faster sale, higher price
Our Influencers agreed that effective staging will help sellers get the deal done quicker, for a higher price.
“I guarantee sellers that, while I don’t know the exact amount they will receive as a result of staging, I know they will get more than their money back and they will sell their home in a shorter period of time than they would without staging,” said one RE/MAX Influencer.
A buyer can tap into his/her imagination when a home ...