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Market Watch - October 2018

Rental Wild Wild West - Ontario Edition

Wednesday Oct 03rd, 2018

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Rental Wild Wild West - Ontario Edition

Toronto's Rental Prices have been progressively going up from 2016 to present.     This is due to a surge in Toronto's Population of New Comers; namely, New immigrants. As a result, Toronto's Rental Demand is high and will keep rising given and affordable and the inventory or rent-control units are fewer than the 1980s and 1990s. As well, Ontarians do have higher household debt levels and also face stricter financing guidelines for purchasing real... [read more]

3rd Eye Real Estate Services by Agentjumie

Wednesday Sep 12th, 2018

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There are 2 types of intelligence : 1. The one you acquire for a price. 2. The other gained from consistent exposure to unknowns. The 3rd eye services by Agentjumie is available for those who have a love/hate relationship with Risk . The 3rd eye services by Agentjumie is available who would rather do something than do nothing The 3rd eye services by Agentjumie is for those who understand learning and earning may be mutually exclusive or not, but they are mutually... [read more]

Seller does not warrant retrofit status of Basement

Monday Jul 16th, 2018

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Finished Basements

***Building Codes in Ontario have been updated since the publication of this article. Subscribe to Code News so you receive timely notifications.   ***Municipal bylaws for legal basements and/or registration requirements vary by municipality    ***ESA specific requirements for Electrical work, certification, as well as professional standards /labels and ESA stamp on your Breaker Unit.   Begin reading Article here    When real estate agents... [read more]

Basement not Included !

Wednesday May 30th, 2018

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Basement Not Included

Basement not Included !   Have you come across one of these descriptions on a property? - Basement (None) - Basement ( Not included ) - Basement ( For landlord's use only)  - Utilities ( 70%/30%) or  (80%/20%) - Main and Upper Level for lease only  Any and all of the above property descriptions has surfaced and will continue to surface across several municipalities in Ontario due to these 3 reasons : 1. Shortage of Affordable Rental... [read more]

Real Estate Assignments - Banks, Alternative Lenders and Private Lenders

Thursday May 17th, 2018

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Assignments are fast becoming the new normal. It is a new normal in a market teeming with speculative investors, groups of investors, and even first time home buyers who arrive at a resale prior to closie decision intentionally or unintentionally. Intentions aside, there is opportunity for a prospective buyer to buy a great property, at a great price in a great location provided they have an experienced assignment mortgage professional with relationship and access to the... [read more]

Buyers and Sellers : Ask these questions to Avoid Mortgage Nightmares

Friday May 04th, 2018

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Ask Questions from An "Experienced "Mortgage Professional to Avoid Mortgage Nightmares   Intro Questions There is an emphasis on the term "Experienced" because each professional mortgage agent or broker is often times a generalist who through various files, case studies, mentor relationships, lender relationships, teachability , research, personal development and professional development will eventually become... [read more]

Choose a city - NewComers /Adventurers/Fresh Start

Tuesday Apr 10th, 2018

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  #NewImmigrants & Existing Residents/Citizens The quality of information you are able to gather from a variety of sources + your ability to sift through and stay true with what connects with your values and vision for the new life or new vision you are building in Canada is A KEY to many doors. Here is a database/tool provided FREE that covers every category common to all humans : Housing Education Employment  Immigration Stories -... [read more]

Working with a Buyer Agent - 10 Great Questions to Ask

Thursday Mar 29th, 2018

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                                   You have been introduced to a Real Estate Buyer Agent ; Fantastic ! Next step is the discovery stage , of understanding the dynamics of this new working relationship you desire to establish. As with all new working relationships such as employee/employer ; teacher/student ; mentor/mentee ; coach/learner you must ask as early as possible these questions so you can... [read more]

Closing Costs Differ - New Construction and Resale Homes

Monday Mar 26th, 2018

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Yay!  you have taken the 1st step to Home Ownership in Canada  Step 1 - You have SIGNED an Agreement of Purchase for your desired Home  or Condo and you have reserved or selected Lot and Elevation accompained by an experienced new construction real estate professional . Step 2 - You have SENT a copy of the Agreement of Purchase and Sale to your Real Estate Lawyer for review of all clauses, terms and conditions further negotiation if required of all... [read more]

Gearing up for Home Renovation Season 2018 ! -

Friday Mar 02nd, 2018

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Home Renovation Season begins in March as many would like to make old things become new and fresh, as such the desire to complete projects before summer arrives and the kids are home on holidays. Today's home renovation market and industry has grown significantly in terms of material options and the opportunity for fast turnaround on projects. This has provided more affordable options to home owners, enabled contractors to take on complete more projects with identical... [read more]

Mortgage Renewals

Friday Mar 02nd, 2018

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Most lenders utilize some form of "automatic mortgage renewal " marketing mail blast to achieve 2 things  1. Provide a convenient hassle free renewal process to you and soliciting your loyalty without conveying any benefits or rewarding you for the loyalty 2. Jolt your brain into action to begin shopping around for competitive renewal terms so you have a bargaining tool or at the very least another option other than that presented in the auto generated marketing mail... [read more]

Effective April 2018 - Standardized Ontario Lease Agreement

Friday Mar 02nd, 2018

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The form is required for most new private market residential tenancies entered into on or after April 30, 2018, including tenancies in single and semi-detached houses, apartment buildings, rented condominiums and secondary units (such as basement apartments). It does not apply to most social and supportive housing, retirement and nursing homes, mobile home parks and land lease communities, or commercial properties. The government is planning to develop separate standard leases to address... [read more]

Home Staging Tips You Need to Know

Wednesday Sep 06th, 2017

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It's all about first impressions. Home staging simply helps your home look more attractive while highlighting some of its best features. If your home is on the market, your goal is to makes potential buyers feel like they could live there, and the finest way to do this is to neutralize the surroundings.     Below are some helpful styling tips to help put your home in prime showing shape! Clear out your closets and clutter ( use bins, select a specific set of hangers... [read more]

Financing Your Real Estate Purchase

Wednesday Aug 09th, 2017

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Welcome!  You have saved, you have dreamed and you are now ready to make one of the most expensive purchases you'd ever make in your adult life. Disclaimer: This comment above does not apply if you already own a private jet and/or owner of a private island, would you agree? Mortgage Pre-qualification  Majority of soon to be owners often start their investigation at their local banks, referrals from family, friends and associates, online forms, and in... [read more]

What does Indexation and Income have in common ?

Thursday Jun 22nd, 2017

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Is the income you earn indexed to inflation? If so how do you feel about a 1.014 and 1.016 respective increase in Federal & Provincial Taxation in addition to increases such as:   The cost of Real Estate Ownership    The cost of Food   The regular increases to TTC, GO transit, Local transit   The price of Gas at the pumps   The cost of childcare, school fees, and health needs uncovered by OHIP Indexation factors have gone UP... [read more]

Land Transfer Tax 2017 - Up to $4000

Thursday Feb 23rd, 2017

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Effective January 1, 2017, the tax rates for land transfer tax will depend on the date of the agreement of purchase and sale. If an agreement of purchase and sale is entered into after November 14, 2016, and registration or the disposition occurs on or after January 1, 2017, the tax rates on the value of the consideration are as follows: amounts up to and including $55,000: 0.5%   amounts exceeding $55,000, up to and including $250,000: 1.0%   amounts exceeding... [read more]

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This page and its contents are compliments of Jumie Omole, Sales Representative licensed in Ontario, Canada. ** Not intended to solicit buyers or sellers under Representation