I'm often asked about which type of investment property will return the largest profit. Is it pre-construction, condos or single-family homes? I always answer the same way: "Firstly, have you thought about maximising your primary residence before you buy an investment property?" In Canada, when you sell your home, you don't pay any taxes on the profit you make - at least for...
Rental Market
I've been asked twice this week if now is a good time to sell. To answer this question, let me tell you about the 4 seasons of real estate that occurs every year. Typically speaking, the highest price you will get is in the "Spring Market", followed by the "Fall Market". The worst time to sell is in the "Summer" or "Winter" Markets. If you read the July Real Estate Report, you'll...
In July, the average home in Toronto sold for $1,062,256 which is an increase of +12.6% compared with last year. The average sales-price is down for the past two months, and I anticipate things to heat up again in September. Anecdotally, I'm seeing some weakness in the housing market. Don't get me wrong, there are still multiple offers and "over-asking" prices. But I'm seeing a lot more...
Last month, I wrote about how the rental market goes crazy EVERY YEAR during the Summertime. (Read the blog "Why you need to rent a place soon!" You may be thinking, sure, it only happened for the past 10 years, but will it happen again this year? We won't know for sure until the stats come out in September. All I can say is in the past week:• I've had 80 sets of tenants contact me•...
We recently sold this amazing 4-bedroom home in Mississauga for +$200k over asking with 7 offers and more than 50+ showings. Many sellers and their agents feel they just need to "put it on the MLS and it will sell itself". It might sell, but you are probably leaving money on the table. There's so many different things that you have to do to maximize the value. A Good Product A Lot...
I'm pleased to announce our newest listing at 4201 Hartfield Grove in Mississauga. This is a gorgeous 4 bedroom, 6 washroom house with 2 full bedrooms in the basement and a separate entrance. For photos, virtual tours, floor plans and pricing, go to:www.4201HartField.com Although staging and photography took about a week, the preparation by the owners took much longer. When...
In this video, you'll learn the 4 secrets to selling your home for the most money: Secret #1: More buyers will get more money Secret #2: More emotions will get you more money Secret #3: More experience will get more money Secret #4: Pricing your home right, will get you more money I was fortunate enough to win this free video production at a Small and Mightly Networking event. Their...
As you may have heard, there is a new "Stress Test" that will be taking place on June 1, 2021. I had the opportunity to ask Chris Molder, a mortgage broker from Tridac Mortgage, about the changes and how it affects home buyers. Watch the Interview The stress test increased from 4.79% to 5.25% and now affects both insured and uninsured mortgages. So if you need a mortgage of $1,000,000, your...
The average price is up +32.8% compared with last year, when COVID started. But if you look at the numbers from March, they are actually dropping. I am seeing a softening in Mississauga and Brampton. For about half of the houses we were looking at, they actually accepted a "conditional" offer! In a super-Seller's market, this is unheard of, so it suggests that either fewer listings are...
With the crazy house-prices in Toronto, many homeowners are choosing to renovate their current home instead of upgrading to a new one. Recently, we talked with one of our clients who was planning to remodelling their house. Our designer recommended that you should always lay out a group of 6 to 9 tiles to see if that's the "look" you are going for?" Sure, the pattern or veins on one tile might...