investors: Price Increases in Toronto
- 03/07/14 10:19 PM
Amazing prices increases in Toronto's real estate market with detached homes leading the CHARGE at almost 955K as an inner city sale! Average Home Prices are close behind at $553K. This is an increase of 15.7% over just last year and a reduction of 8% in teh number of homes sold. Homes are purchased with the heart for family and needs. They are paid for with our wallets. Have the prices moved beyond reach?
Affordability If we did not have CMHC backed financing, you would require a minimum of 20% down. Amortizations were available to 30 years and beyond. … (2 comments)
investors: Basement Apartment Fee for Investors in $1,000 in Mississauga
- 12/09/13 11:55 AM
Home owners who supplement their mortgage payments with a basement apartment will now need a license. The City of Mississauga has finally made a response to Bill 140 and the affordable Housing Act. As of January 2, 2014, legal second units must have a City of Mississauga licence per City By-law 204-13
The Mississauga City Council approved a plan to permit second units on July 3, 2013. The plan includes official plan policies, zoning regulations and licensing requirements. It will be in full force in January 2014.
‘Second units’ are self-contained apartments within existing homes. They have their own … (3 comments)
investors: What is the National Delinquency Rate on your mortgages?
- 09/24/13 08:39 AM
The already low rate of arrears on mortgages insured by the Canada Mortgage and Housing Corp (CMHC) declined further in the second quarter, an indicator which might temper concerns about a possible hard landing for the housing sector. The government agency said in its quarterly financial report that the arrears rate had declined to 0.32 percent as of the end of June, down from 0.35 percent both at the end of 2012 and at the end of March. Canada did not suffer the housing crisis that triggered the 2007-2009 recession in the United States, and its government has taken steps to … (1 comments)
investors: Landlords investing in Condos
- 09/09/12 02:45 AM
If you are concerned about the quality of your investment in Toronto real estate, Why not invest your money in Canada, in Toronto, We have an excellent opportunity and a buoyant market, with a growing metropolitan area being Toronto, Ontario, Canada. If you would like the comfort and return on investment from knowing your money is safe and secure. Call me at 647 218 2414, And we will find and income and investment opportunity for you. When you purchase a home they not only get bricks and mortar, you buy into a community and lifestyle. You create a nest egg for your future. Lets … (1 comments)
investors: Rental Property Documentation
- 09/02/12 09:50 PM
Did you make a real lease or just use the offer to lease from TREB? Offer to Lease Rental Application You have a condo and you want to rent it out.OF COURSE, you would want a tenant that will respect your property, look after the place, be courteous to the neighbors and generally obey all the terms of the lease. You want to avoid a tenant who will rip you off. Someone who will pay the rent on time.You posted your rental online and asked for; Confirmation of employment Copy of a Credit Bureau 1st and Last … (0 comments)
investors: Tenants from Hell?
- 07/24/12 08:56 PM
Has your Land Lord Tenant Experience been the very worst experience in your life? I've attended many a hearing at the LTT over the last 25 years and I can tell you..... My Faves? The tenant that left the [basement apartment] water running to dampen the noise from upstairs. Landlord entered to turn off the water and a dispute started. Result? Landlord was served with a restraining order to stay away from Tenant's Residence! (They lived upstairs) Rent Increases do not apply for units constructed after 1991. So Market Rent rates prevail. During the course of an upscale property eviction [non … (0 comments)
investors: Did you claim an HST rebate on your Condo Purchase?
- 04/28/12 08:22 AM
Yes, the real estate condo market is HOT! Yes, You can flip your unit for immediate profit! Yes, You can rent your unit! Yes, Revenue Canada; affectionately referred to as CRA is made aware of the transaction. HOW you ask? You pay Land Transfer Tax on your purchase; Tarion Warranties apply. Even in a Flip there are disclosures. You can sell your unit and claim the [HST] tax on closing or if you rent your unit and provide a copy of the lease; preferably you will pay the tax and request a rebate a year later. Personally, people try to slip … (1 comments)
investors: HST rebates on New condo Purchase for Investors
- 01/17/12 04:14 AM
David Pylyp: I'm with Shadi Nasseri; A Condominium Law Specialist in Down Town Toronto. Tell me about HST (Harmonized Sales Tax Rebates) Can I get a rebate on the purchase? Shadi Nasseri: When you purchase a new condo in Ontario you have to pay HST on the purchase price. There are however some exceptions to that rule. You can get a rebate of your HST payments, of a certain portion of your HST, if you qualify based on two factors, one, is if you live in the condo yourself, so there's a rebate that applies that you occupy the unit yourself, … (0 comments)
investors: As a Landlord.... Thou Shalt Not
- 04/23/09 04:17 AM
Larry the Landlord has owned this property for more than 20 years. In the last 10 years the same tenant (Tina the Tenant) has been the occupant. Since Tina the Tenant paid relatively well, Larry the Landlord hasn't kept pace with all the allowable rental increases available from the Landlord Tenant Tribunal.(LTB) Larry has been watching the real estate market in west Torontorather actively and finally felt the time was right to part with the challenge and obligation of looking after a rental property. He struck up a conversation with Tina about whether they might be interested in purchasing the property as they … (0 comments)
News, views, rants and commentary about Toronto west Real Estate issues and Local Community events from David Pylyp.
Experience is not expensive... It is Priceless!
Amazing prices increases in Toronto's real estate market with detached homes leading the CHARGE at almost 955K as an inner city sale! Average Home Prices are close behind at $553K. This is an increase of 15.7% over just last year and a reduction of 8% in teh number of homes sold. Homes are purchased with the heart for family and needs. They are paid for with our wallets. Have the prices moved beyond reach?
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