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September 2018 Market

Friday Oct 05th, 2018

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Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 6,455 sales through TREB’s MLS® System in September 2018 – up 1.9 per cent compared to September 2017. The average selling price for September 2018 sales was up by 2.9 per cent over the same period to $796,786. The MLS® HPI composite benchmark price was up by two per cent year-over-year. New Listings were down by 3.1% compared to same month in 2017. It shows... [read more]

150 Goodwin cres, Milton

Saturday Sep 29th, 2018

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I have this beautiful home Approx 3500 Sq ft in the prestigious community of Saddle Ridge, Milton. It comes with 5 Bedrooms, 5 Washrooms, No Carpet in Home, upgraded tiles, 10 ft Ceiling Main, 9 ft Ceiling 2nd Floor on Premium 46 feet Lot. [read more]

New Mortgage Rules For Residential Real Estate

Friday Dec 01st, 2017

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The rules now require the minimum qualifying rate for uninsured mortgages to be the greater of the five-year benchmark rate published by the Bank of Canada (presently 4.89%) or 200 basis points above the mortgage holder’s contractual mortgage rate. The main effect will be felt by first-time buyers. “No matter how much money they put down as a down payment, they will have to pass the stress test.” The effect of the changes will be huge, resulting in a 20% decrease in... [read more]

Foreclosure v.s. Power of Sale

Tuesday Dec 27th, 2016

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In the unfortunate circumstance that a homeowner is past-due on their monthly mortgage payments, they pave the way for a “foreclosure” on their property. In today’s market, banks and other lenders do not turn to foreclosure to take away the homes of homeowners who are in arrears. Instead, they perform a "Power of Sale" which is wholly different from a Foreclosure. What is a Foreclosure? Foreclosures are laborious, grueling, and costly to both the... [read more]

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