There have been many articles that have been coming out exploring the Debt to Income Ratio for Canadians and how it compares to that of the US and the other G-20 Nations. “Canadians’ debt-to-income ratio now ranks first among 20-advanced countries in the OECD”. Article

The fear is, are we in over our heads in debt?  If so, how does this negatively effect the condominium market? Should we hold off on that investment decision? Are they trying to tell us something? read (more…)

Today I was invited as part of a delegation to speak to CMHC in an industry round-table  discussion regarding the Investor.  Topics such as profile, purchases, intentions along with discussions on other types of buyers, assignment market and the risks and opportunities were on the agenda.  The three hour discussion was quite interesting looking from the prospective of the attendees  (Developers, Bankers, Lawyers, TV Show hosts, Top Producing Realtor’s, Internet Bloggers etc.)  I was somewhat surprised with the discussion as it pertained to these issues and the diverse answers and comments made.  It is obvious to me that we have a long road ahead of us in regards to understanding and educating ourselves and the consumer public when it comes to issues regarding assignments, HST costs in pre-construction, condo rebates and the percentage of foreign investors in our market place, all of which came with a variation of responses and recommendations.  A few things that I took from this discussion and as a summery to this entry, would be to say that there are various opinions to the future of pre-construction appreciation, rental increases and consumer debt and how it is associated with the viability to off set carrying costs.  In conclusion I continue to be satisfied with the out look and the future of the investor and pre-construction condominium industry.  It is my opinion that we are in for some volatile corrections in regards to interest rates and property valuations 5-10 years from now.  For those new to my blog the correction in rates and valuations are based on appreciation not depreciation.  I would hope that this brain storming will assist CMHC in making certain regulations to consider longer term amortizations, flexible terms and conditions and lower costs to insure mortgages along with adding an aspect of consideration to investors to their current mandate  which is housing Canadians.

Rates are going up 50 points tonight. 2.99 %. Ends at midnight. If interested I can do a rate hold for 120 days. Please forward info tonight.
Also the VRM is discount is decreasing. Get ready for a series of increases on Mortgage interest rates as our global economic and domestic situation settles. In 1991 I was a mortgage broker, at the time rates where between 13-14% and I was doing several 5 yr long term contracts with the threat of increasing rates. Let us not forget 1981 at 22%. Though we will not see these rates for quite some time, the future will be determined and separate the men from the boys. Consider long term rates 5-10 year plans and don’t get caught up in these short term adjustable rates that everyone is pushing on you. As a mortgage broker and mortgage manager from Canada Trust I will let you in on a little secret. All terms and rates come with different levels of remuneration for the manager setting it up. Many specialists will be more concerned with their own success over yours. Be careful to read between the lines, sometimes it pays to go with the opposite of what they recommend!

For the first two weeks  of March, Greater Toronto Realtors reported 4,215 transactions through the Toronto MLS system, representing a 7% increase compared to the same period in 2011. The number of new listings was down by 2% year-over-year to 6,970.

Buyers continue to enjoy the affordable housing opportunities in the GTA. Immigration to GTA continues to be the driving force of the new home buyers every year. The economic and ethnic diversity  continues to bring  new and foreign investment,” said Toronto Real Estate Board (TREB) President Richard Silver.

The average selling price for transactions between March 1 and 14 was $502,155 – up by more than nine per cent compared to the first 14 days of March 2011. On average, homes sold for 100 per cent of the asking price within three weeks.

“Strong competition between home buyers in many parts of the GTA has resulted in sellers realizing their asking price in a short period of time. The fact that homes are selling for 100 per cent of the asking price, on average, suggests that sellers are very much in tune with the current market situation and know the fair market value of their home,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

February Results (more…)

Coming soon, an intimate boutique condo steps from Yonge and Sheppard. Zen-inspired elegance in the heart of North York, Flo captivates with sleek architecture, modern design and cool amenities, close to the subway, great for shopping, dining and an abundance of parks within walking distance. Stay tuned for more details on this great project or call now  (416) 712-7908 and be sure to claim your new property before the line up begins.

You will be given an additional:
10% Down
From the Government of Canada
 
It does not get better than this for a First Time Home Buyer.  Interest rates will never be lower than they are now and this additional incentive will probably never be offered again.
 
If you are renting and you are a First Time Home Buyer call us to talk about this  project.  Your mortgage payment on your new home will probably be cheaper than your rent.  We expect demand to be large and Units to be limited.  Contact us to arrange a secured place at our upcoming seminar in April.  Sale in June will be sold out fast just like their first phase.
Click here for details on our seminar (more…)

Many people do not understand what an assignment is. www.assignit.ca does and they explain the whole process for all potential users. If you are thinking about assigning your unit, or buying an assignment than check out this web site assignit.ca.

Assignments must be great, prices are lower than current market values because the units are sold by individual investors happy with making a smaller profit for the sake of not paying closing costs and carrying costs.

I use assignit.ca for all of my assignment needs both for myself and for my clients.

Though assignments are somewhat new and difficult to understand, they offer a full list of FAQ’s  to help anwer your questions and full in-depth descriptions with advantages and disadvantages.

Good Luck and Assign that unit!

Sales of existing homes in Canada are projected to increase slightly this year, but dip in 2013, the Canadian Real Estate Association said on Monday. Globe and Mail Article
Sales are predicted to rise 0.3 per cent in 2012 to 458,800 nationally, up from 457,305 in 2011, said CREA. (more…)

So here we go again. An aggressive journalist seeks recognition by being one of the first to instill panic in the consumer public with respect to housing. With a role of the dice she will either go unrecognized for this article or win a spectacular journalism award for her predictions.  My suggestion to Tamsin, take a better look at our half full cup of water and see this remarkable country for what it is and what it will be. I realize this will not sell as many magazines and newspapers but rejoice as I do in being part of this wonderful country. I am Canadian, three words that we can always be proud of. (more…)

freed update click here