Archive for October, 2011

Condo Ownership: What To Expect

Condo Ownership: What To Expect

In the city of Toronto there are realtors who focus specifically on condos, and there are realtors who focus specifically on houses. There’s a third group as well – the realtors who focus on both condos and houses.  I’m one of those guys.  Condos and houses each offer their own unique set of challenges, opportunities, and rewards.  I can’t imagine giving up one for the other.

When it comes to buying/selling a condo versus buying/selling a house, there are a number of key differences to keep in mind.  Part of my job is to educate my clients as to what these differences are and to make sure they understand how condo living differs from freehold ownership.

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Toronto Real Estate Market Report: October 2011 Mid-Month Statistics

Toronto Real Estate Market Report: October 2011 Mid-Month Statistics Photo

Following is TREB’s market report for mid-October 2011:  Greater Toronto REALTORS® reported 3,477 transactions through the TorontoMLS® system during the first 14 days of October 2011. This total represented a 20 per cent increase over 2,890 sales reported during the first two weeks of October 2010. Year-over-year growth in new listings for the same period was slightly stronger than that recorded for sales – up 21 per cent to 6,249.

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The Importance Of Having A Mortgage Pre-Approval

The Importance Of Having A Mortgage Pre-Approval Photo

When I meet with a new buyer client, one of the very first questions I ask is, “Have you been pre-approved for a mortgage?”  More often than not, they’ve haven’t.  Sure, they’ve done a bit of research on their own; plugged some numbers into an online mortgage calculator, crunched a few more numbers to see what they’re comfortable spending each month…  Don’t get me wrong – this preliminary leg work is great in that it gives you a ballpark idea of what you’re in the market for.  It’s not the same as having an actual pre-approval though.

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Toronto Real Estate Market Report: September 2011 Statistics

Following is TREB’s market report for September 2011:  Greater Toronto REALTORS® reported 7,658 transactions through the TorontoMLS® system in September – a 25 per cent increase over September 2010. Sales during the first three quarters of 2011 amounted to 70,588, representing a 2.6 per cent increase compared to the first nine months of 2010.

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