A minimum cash down payment from your own resources is required because mortgage lenders won't advance the entire purchase price of a property. Your minimum down payment would normally be 10%, however, a recent government program has lowered the minimum to 5% for qualified first time buyers. Another temporary program allows first time buyers to use funds from their RRSP for their down payment. It's to your advantage to aim for a down payment of 25% or more, so you'll qualify for a conventional mortgage and avoid paying the mortgage insurance premium. The larger your down payment, the ...
Your Down Payment
December 7, 2011
Executive Townhouses Etobicoke
February 24, 2011
Both the empty nesters downsizing their homes and first time buyers are actively looking at both freehold and condominium townhouses that are at and near major transit hubs like the Islington and Kipling Subway Stations. Get Sold prices for the last 6 - 8 month period. Ask about current unit availablility. Map where these complex's are located. Closest to the Islington Subway station is the freehold townhouse grouping at Six Points Road and Islington Ave. There is a maintenence fee for the servicing of common elements. Furrow Lane has approximately 90 units in total. that are simply divided into two ...
Market Watch Summary + Video from Toronto Real Estate Board
January 18, 2011
GTA REALTORS® Report Monthly Resale Housing Market Figures TORONTO, January 6, 2011 -- Greater Toronto REALTORS® reported 4,395 existing home sales for the month of December, bringing the 2010 total to 86,170 – down by one per cent compared to 2009. “Market conditions were anything but uniform in 2010. We went from super-charged sales activity during the first four months of the year, to a marked drop-off in transactions in the summer and then in the fall saw sales climb back to levels that are sustainable over the longer term,” said TREB PresidentBill Johnston. “New Federal Government-mandated mortgage lending ...
What kind of year will 2011 be for the real estate market?
January 14, 2011
What kind of year will 2011 be for the real estate market? Message from Igor Futrega . . . Happy New Year and Best Wishes in 2011!!! What kind of year will 2011 be for the real estate market? In all likelihood, it will be another excellent year particularly if interest rates remain low, incomes continue to rise with the economic recovery and population growth continues to track the same pattern of recant years gone by. As we enter 2011, the market happily appears to be returning to amore balance situation following the imbalances that we witnessed in late ...
Our W06 Real Estate Market Watch
January 6, 2011
The W06 grid reference for the Toronto real estate board takes in a number of family residences namely Alderwood, Mimico, New Toronto, Longbranch, and more recently the entire condominium new construction phenomena along Lake Shore and Marine Parade Dr. The Lake Shore at Superior Ave., is not exempt from a revitalization with the announcement of the Mimico by the Lake named Eleven Superior by Davies Smith . From the Toronto Real Estate board statistics we have learned that in the W06 grid there were186 active listing ( Homes and condos for sale) of which 56 were new ...
What Happens in W06 stays in W06
December 13, 2010
The W06 grid reference for the Toronto real estate board takes in a number of family residences namely Alderwood, Mimico, New Toronto, Longbranch, and more recently the entire condominium new construction phenomena along Lake Shore and Marine Parade Dr. The Lake Shore at Superior Ave., is not exempt from a revitalization with the announcement of the Mimico by the Lake named Eleven Superior by Davies Smith. From the Toronto Real Estate board statistics we have learned that in the W06 grid there were 269 active listing ( Homes and condos for sale) of which 120 were new listings added in ...
Geothermal: Sharing the Costs of Housing Infrastructure
December 4, 2010
In Winnipeg, a major subdivision has incorporated a unique feature into all its homes – geothermal heating. While geothermal systems have become quite commonplace in residences, the Manitoba experiment involves shared geothermal infrastructure, with one field and a handful of heat exchange systems servicing hundreds of homes. The idea of shared infrastructure for homes is not new. Indeed, in the early 1900s, huge numbers of homes across Canada were constructed with shared living rooms (parlours), shared kitchens, and sometimes, shared bathrooms. Apartments are nothing more than homes with shared infrastructure, albeit a series of boxes stacked so as to ...
A quick guide to buying your first home in Canada
November 22, 2010
Deciding to purchase your first home may seem like a daunting task, but it doesn't have to be. Knowing what resources to gather before starting your search is key. So before you buy, make sure you know the basics. The right home for you Deciding on what type of property is right for you is the first of many steps. You'll also need to answer the following questions before any decisions are made: how many people will reside there? Do you want to live in a city centre or in the suburbs? Are transportation, local amenities and nearby entertainment priorities ...
October 21, 2010
I am pretty sure that during your life, you have seen a couple of seemingly flawless houses with the ‘for sale’ sign. That would be completely fine, if the sign was not there for too long. Have you ever thought about why these homes, even though absolutely beautiful, do not sell? If you think it is because of their location, you may be partially right. Sometimes the house may be just astonishing, but if it is too far from any facilities or the surrounding environment is not very pleasant, the quality of the property itself may be irrelevant. But as ...
Living in Toronto
October 15, 2010
Close up of Our Mortgage Market Sometimes, We need to check our facts and perspective from time to time. I always thought that people would finance with the shortest and lowest interest rate possible. 68 per cent of mortgage holders have fixed rate mortgages, while 27 per cent have variable and adjustable rate mortgages. Fixed rate mortgages are the most popular among people between the ages 18 and 34, while those in the 55+ age group are more likely to prefer variable rate mortgages. Rather a surprising statistic given that most of the first time buyers are consumed with obtaining ...