CMHC announced that it is raising their rates on mortgage insurance effective May 1, 2014, by an average of 15 per cent. Although this is not good news for homebuyers, it does not mean that the sky is falling either.
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Toronto Real Estate Board President Dianne Usher announced that February 2014 home sales reported by Greater Toronto Area REALTORS® were up by 2.1 per cent compared to the same period last year. Total February sales amounted to 5,731 compared to 5,613 last year.
Read MoreThe provincial land transfer tax can add an additional 1 to 2 per cent on the cost of a home purchase if you live outside of Toronto. If you buy in Toronto, the amount is almost double. The Toronto Real Estate Board has been lobbying for five years to remove this tax, claiming that it penalizes buyers in Toronto, who already face record high prices.
Read MoreGood morning everyone to the first day of March. 3 weeks to official start of spring but already about 1month overdue for me! What’s the BUZZ? Mortgage Rates going up? / Mortgage rates going down? Forecasts: You should always read past the headlines! It’s been over 10 years that many people have been expecting/forecasting a…
Read MoreMany times what starts off as an innocent disagreement can escalate into something major, if you are not careful. It can be an argument about noise, boundary issues, trees or fences. But if you are considering suing your neighbour about any issue, think about the following first…
Read MoreActual sales numbers (not just pricing) are on the increase. The market should experience its seasonal increase in listings over the next several weeks. Homes continue to be gobbled up by buyers at over asking prices as the norm. Even in situations for properties that were not marketed or expected to receive over asking results. Read the mid-month housing update below.
Read MoreWhen buying or selling a re-sale condominium, the most important document in the deal is the status certificate. It answers important questions that matter to most buyers…
Read MoreSince being back from vacation (2 weeks Sunday) I have been personally involved in 3 bidding wars. 2 for buyer clients, and one for my selling client. I have been also monitoring specific properties of interest for buyer clients and noting that selling prices have been setting new records (by quite a bit) for certain home types and neighbourhoods. There does not seem to be any slowing down on upward pressure on sale prices as quality inventory is virtually non-existent!
Read MoreUnless you ask a seller point blank, you are unlikely to find out whether their home was the scene of a murder, suicide, grow house operation, or whether they experienced water damage or flooding in the past.
Read MoreDuring last month’s ice storm, your neighbour’s tree fell and damaged your house. Who pays?
For most people, this should be covered under your homeowner insurance policy, whether the branches were from your own trees or your neighbour’s trees. However, most policies have $500 deductibles, so you need to decide whether it is worth reporting the claim. If you have all perils coverage, you may also claim for any damages caused to your car by the branches.
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