toronto real estate: 5 Deadly Mistakes First Time Buyers of Toronto Condominium Listings Make
- 08/09/10 08:19 AM
The day comes when you get tired of paying rent to someone else and you decide it's time you owned your own place. Being a first time buyer you have decided that a Toronto Condominium Listing is the affordable route at this time. Before you run off excitedly looking at every Toronto Condo on the market keep in mind these 5 deadly mistakes people make in their quest for independence and home ownership. •1. Not Getting Pre-Approved for a Mortgage Perhaps you have had some credit problems in the not too distant past, credit card debt you have fallen behind … (0 comments)
toronto real estate: Is Toronto Condo Living Suitable for You?
- 08/07/10 07:50 AM
Before you rush out and buy one of those Toronto Condominium Listings you have admired for so long, you should know that not everyone is suited to condominium living. In order to take part in a condominium lifestyle you agree from the beginning to live by certain rules and regulations stipulated by the condo corporation. When you make an offer on a Toronto Condo your real estate agent will insert a conditional clause asking for a Status Certificate. The Status Certificate gives you not only a financial picture of the condo corporation but also the rules and regulations. Delivery of … (2 comments)
toronto real estate: Weaker Home Sales Predicted
- 08/02/10 08:26 AM
Weaker Home Sales Predicted The Canadian Real Estate Association has reduced its sales forecast again for this year. 459,600 units are estimated to change hands in 2010, a decline of 1.2 per cent. This is the second time the Canadian Real Estate Association has reduced estimates from an optimistic 13.3% increase over 2009 sales figures. Weaker sales activity in the Spring home buying season is the reason given for the adjustment to sales forecasts. Frenzied earlier activity by buyers in the first 5 months of the year in advance of new mortgage regulations and the introduction of Harmonized Sales Tax in … (0 comments)
Down Payment First time Toronto Condominium buyers are allowed to purchase a home with as little as 5% down payment. The mortgage has to be insured against default by either CMHC or Genworth Financial. They both have income and debt requirements you will need to satisfy. The cost of the insurance is added to the mortgage and paid for in your regular monthly payment. A conventional mortgage is also available, where no insurance is required with a 20% down payment. RRSP Home Buyers Plan Provided you have the funds in your RRSP … (0 comments)
Toronto condominium corporations representing about 75,000 owners and residents decided to opt out of the city run recycling program over the last 2 years. Why? "The waste rate program was unfair, punitive and un-transparent" a spokesman for the greater Toronto Apartments Association told a recent public works committee meeting.
A confusing and punishing rate system has resulted in roughly 375 of the 5000 multi-unit buildings deciding to leave the city system in favour of private removal providers. The public works committee voted to recommend that council approve a new flat … (2 comments)
toronto real estate: Forest Hill house For sale in Toronto
- 06/21/10 03:11 AM
Forest Hill house For sale in Toronto This white stucco home is located in the exclusive neighborhood of Forest Hill in Toronto Sunlight filled it has 6 bedrooms and 6 bathrooms, a lovely family room with fireplace and wet bar. Marble counters and floor have recently been upgrades to the eat-in kitchen along with stainless steel appliances. Excellent schools, shopping, parks and transportation are all close by. Situated on a quiet tree lined street yet only 15 minutes to the heart of the financial district. For a private confidential viewing please contact John Lavin John Lavin is a full time realtor … (0 comments)
toronto real estate: Toronto Condominium Listings - Market Report
- 06/09/10 02:39 PM
Toronto Condominium Listings - Market Report The month of May 2010 saw an increase in the number of active listings and a slight decrease in the number of sales in all of the central areas of Toronto (C01-C15). Is this the first sign of a market correction in the Toronto Condominium market?
To gain some insight into that question we need to look at what has been happening in the market over the last few months. A shortage of Toronto Condominium Listings resulted in bidding wars and price increases. A generally heightened awareness of the probable increases in interest rates … (0 comments)
toronto real estate: Harmonization or Tax Grab?
- 05/11/09 02:18 PM
The Dalton McGinty government has introduced legislation to implement the harmonization of the Federal Goods and Services Tax (GST) with the Provincial Sales Tax (PST) in 2010. So instead of seeing a 5% GST and an 8% PST on whatever you buy, you will see a combined tax of 13% HST. Sounds harmless...........right? Except some goods and services are now exempt from the 8% Provincial Sales Tax. At present, real estate commissions are not subject to the 8% PST. Neither are home inspections, home and condo appraisals or lawyers fees. All of these will become taxable at the Provincial level in … (0 comments)
toronto real estate: Toronto Real Estate Owners Asked To Shell Out Big Bucks By City
- 03/22/09 03:33 PM
Asked is not entirely accurate. Gouged is more apt. This week the City of Toronto council will introduce and approve it's new budget, one with a provision to hire 1300 more employees and hike property taxes 4%. One of the positions they intend to create is a "Blackberry Specialist" to look after the burgeoning number of city employees who have Blackberry's. The salary proposed for this Specialist is $84,000 per year. I would suspect a generous benefit package is also attached to this figure. There are approximately 2000 Blackberry devices amongst city councilors and employees. A Blackberry support specialist would handle … (5 comments)
toronto real estate: Toronto Real Estate Sales Killed By Land Transfer Tax
- 02/26/09 05:47 AM
Perhaps "killed" is an exaggeration but the patient has been severely wounded. In February 2008 the City of Toronto introduced a Land Transfer Tax payable on all Toronto Real Estate sales. This is in addition to the already punishing Provincial Land Transfer Tax. The result has been a crippling effect on Toronto house and condominium sales as well as lowering average prices. Recent Study A recent study entitled "Sand in the Gears - Evaluating the Effects of Toronto's Land Transfer Tax" says that the Toronto land transfer tax is responsible for a 16% drop in the number of single family homes … (1 comments)
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