Condominium Ownership Explained     A condominium is a parcel of real estate. Generally, it is viewed as one single unit of a condominium corporation. In effect, it is one method of common ownership with others of a larger parcel of property.     It is not an apartment building or a row of townhouses, but rather a unitized ownership of real property. This is an im ...

These past few weeks it seems as though we have stepped into an episode of the Twilight Zone. So many things have changed. Many things continue to change. Realtors have been deemed an essential service...but it's not "business as usual". We are to be completing transactions or assisting those who must buy or sell within the next couple of months. Stagers are hard to find as they are not deemed ess ...

Steve Huebl ·Mortgage Broker News·April 16, 2020Latest in Mortgage News: Maximum Mortgage Deferral Could Cost You Up to $12,000   Nearly 600,000 Canadians have so far taken advantage of some form of mortgage deferral assistance due to the COVID-19 crisis, according to the Canadian Bankers Association (CBA). With the average mortgage payment amounting to $1,326, this has freed ...

For buyers: Dealing with competing offers In certain market conditions, consumers may find that more than one buyer is interested in a property. This is a competing offer situation and creates unique conditions in a real estate transaction. Both sellers and buyers need to consider how to respond when presented with a competing offer situation. Working closely with your real estate broker or sale ...

STEP 1 - GET PRE-APPROVED FOR FINANCING   It is very risky to sign a contract to sell your home before you know if you are qualified to buy another. If your financial circumstances have changed since your last purchase, you may not qualify for another loan, or the market may not provide a price that will allow you to determine you to buy the type of replacement home you want. The last thing ...

Not all renovations will increase the value of your home. Some renovations are lifestyle improvements that are for a home-owners personal pleasure.  Some improvements hold no value if they are unpopular decor decisions (peuce-coloured granite comes to mind). In fact, they may decrease value. Pouring a lot of money into a poor floor plan without correcting function is a common mistake.  ...

  The safe and sound choice in today’s mortgage market is to lock down a rate for five years and let borrowing costs do what they may. That’s how you should proceed if you’re a nervous first-time home buyer or just holding things together financially as you renew. Everyone else, consider the variable-rate option. While they leave you exposed to rising interest rates ahead, ...

INCOME TAX CONSIDERATIONS WHEN SELLING A HOME July 2017   Chances are that you’re well aware that the housing market in many parts of Canada has seen strong growth over the past couple of years. As well, regional housing booms in parts of Ontario and Vancouver have received a lot of media attention and the federal and provincial governments have made an effort to cool these markets ...

Qualifying for a mortgage is getting tougher, and if you have poor credit or are otherwise unable to meet a lender's requirements to get a mortgage, then getting someone to co-sign your mortgage could be the way to go.   If you can’t afford to buy a home or aren’t in a position to get the best mortgage rates and terms, then the conventional and conservative wisdom is to wait unt ...

As a prospective homebuyer, you’ve probably read vague mentions of closing costs here and there. Closing costs are one of the so-called hidden costs of buying a home. It’s not a set number, but a compilation of various administrative and legal fees that are due on the closing date, the agreed-upon date by the buyers and sellers when the lawyers exchange the money and documents required ...