Spring is in the Air!! I can sense it, touch the grass, feel the raindrops on my face. And according to Mother Nature, we only have 6 more weeks of winter. The Real Estate market is also experiencing the warmth.
Check out our numbers from the Real Estate Board posted for last week.
$653,812 Average Price $816,876 Average Price $690,570 Average Price
CHANGE TO MINIMUM DOWN PAYMENT RULES
Starting on February 15, CMHC will require a 10 per cent down payment on the portion of any mortgage it insures over $500,000. The five per cent rule remains the same for the portion up to $500,000.
Once the new rules are implemented, someone looking to buy a $700,000 home would need to have a minimum down payment of $45,000, which is what you get when you add five per cent of $500,000 and 10 per cent of the remaining $200,000.
If the time has come for You to "Find Your Dream Home", then I would love to help. New properties are listed every day. By filling out the form, I can have new Listings emailed to You as soon as they become available.
The Equity in your home is like any other investment - it needs to be monitored. Homeowners should have their Equity evaluated once a year.
Now might be the perfect time...
Toronto Real Estate Board President Mark McLean announced that TREB Commercial Network Members reported a combined 240,606 square feet of industrial, commercial/retail and office space leased through TREB’s MLS® System in January 2016, for properties where pricing was disclosed on a per square foot net basis
Toronto Real Estate Board President Mark McLean announced Greater Toronto Area REALTORS® reported 4,672 residential transactions through TREB’s MLS® System in January 2016. This result represented an 8.2 per cent increase compared to January 2015.
To make the best remodel or move decision, it is important to understand all the reasons that you have to remodel and all the reasons that you have to move. This article reviews common reasons to move. As you read each of these reasons, consider how much it applies to you