Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)
RECENT BLOG POSTS
 Commercial bond yields   CMB         GoC         Floating rateinsured cost of funds 5 Year - 1.39%Canada housing 06/15/22 [-]       5 Year - 0.97%CAN 0.50 03/01/22 [-]       0.99%                       [-]                        10 Year - 1.94%Canada housing 06/15/27 [-0.02]       10 Year - 1.4...
05/26/2017
 Assignments and Extensions of the Closing Date (Ontario)Question:I represent the Assignee in a transaction for a condo under construction.The original Agreement of Purchase and Sale with the Builder provides for a closing date of June 30th.The Assignment specifically states that “profits” are to...
05/26/2017
Power of Attorney and Notarization (Ontario)Question:My clients are residents of Canada who are on a work assignment out of the country. Due to work, it is very difficult for them to return to Ontario to have the Power of Attorney notarized in Ontario or to return to Ontario to execute the closin...
05/26/2017
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 2.99% 2.34% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.35% Fixed 4 Year 3.89% 2.49% Fixed 5 Year 4.64% 2.54% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.00% Prime Rate 2.70% Benchmark Rate 4.64% Cost per ...
05/24/2017
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 2.99% 2.34% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.29% Fixed 4 Year 3.89% 2.44% Fixed 5 Year 4.64% 2.39% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable 2.00% Prime 2.70% Benchmark 4.64% Rates may vary provin...
05/23/2017
Buyer’s Anticipated DefaultQuestion:Listing sells with a bully offer for a reasonable "month ago" market price (much higher than now), firm and 5% deposit.The Buyers now don't think they can sell for what they "need" in order to fund the purchase. Their Agent suggests Sellers relist now to try an...
05/22/2017
 Incorporation for Real Estate Agents in Ontario Agents generally want to incorporate for tax purposes. Recent legislation will enable the ability to utilize corporations.When I refer to “agents” I really mean individual practitioners in the business, as that term is commonly understood.There are...
05/22/2017
Toronto and GTA Markets Tip Over in May 2017 (7 of 8 Indicators Down) Due to the volatility in the real estate market you will be interested in the Toronto Real Estate Board’s most recent statistics. MAY 2017 TREB MID-MONTH STATISTICSMay 17, 2017 – Greater Toronto Area REALTORS® reported 5,021 tr...
05/20/2017
Defaulting Buyer and the Seller’s OptionsQuestion:I am very suspicious that the Buyer won’t close. I am the Listing Agent and the Buyer’s Agent inquired about the possibility of a Mutual Release.Answer:This is a wonderful opportunity for the Seller. The Buyer is stuck. Make them close or let them...
05/20/2017
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 3.04% 2.34% 2 YEARS 2.84% 2.14% 3 YEARS 3.44% 2.34% 4 YEARS 3.89% 2.44% 5 YEARS 4.64% 2.54% 7 YEARS 5.30% 3.19% 10 YEARS 6.10% 3.69% Rates are subject to change without notice. OAC E&OE  Prime Rate 2.70% 5 yr variable 2.00%
05/19/2017
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Brian Madigan

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