GTA REAL ESTATE MARKET WATCH 05/19

By: The Jean-Jacques Team

GTA REAL ESTATE MARKET WATCH 05/19

Tags: Average Home Price, Home Sales, GTA Real Estate, GTA Real Estate Market

May 2019 – Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS reported a substantial year-over-year increase in home sales in April 2019. The number of residential transactions jumped by 16.8 per cent to 9,042 compared to 7,744 in April 2018. On a preliminary seasonally adjusted basis, sales were up 11.3 per cent compared to March 2019. New listing...Read More

A Refresher On Down Payments

By: The Jean-Jacques Team

A Refresher On Down Payments

Tags: Down Payment, Home Purchase Price, Credit History

Spring often activates the urge to not only get up and go, but sometimes pack up and leave! Before you make a move to move, it's important to refresh yourself on some home-buying basics. One of them is recognizing how the minimum down payment on a home is calculated.   To buy a house in Canada, your minimum down payment depends on the home's purchase price: If the home costs $500,00...Read More

All Together Now!

By: The Jean-Jacques Team

All Together Now!

Tags: Mortgage Expert, Real Estate Professional, Mortgage Pre-Qualification

Purchasing a home is an overwhelming process, one that you simply can't navigate alone. At the very least, the two people you'll want to have close by your side are your mortgage expert and your real estate sales professional.   YOUR MORTGAGE EXPERT:   You can't start looking for a property before knowing what you can afford, and then giving your real estate representative a ...Read More

Renovation Preparation

By: The Jean-Jacques Team

Renovation Preparation

Tags: Contractors, Home Insurance, Home Location

Whether you're planning to renovate your home for your own use, or to bring it up to the standards necessary for a successful sale, you'll want to ensure that these important points are considered and confirmed. Is your renovation more of a "want" or a "need"? Are you planning on staying in your home long enough to recoup your investment? Do the neighbourhood value...Read More

Terminology Tip: Mortgage Calculator

By: The Jean-Jacques Team

Terminology Tip: Mortgage Calculator

Tags: Mortgage Calculator, Annual Interest Rate, Loan

An automated tool that enables users to determine how much money they can afford to borrow — and thus, how much they can afford to spend on a home — at a particular interest rate by calculating what their monthly mortgage payment would be on a given loan. Variables input into a mortgage calculator include the amount borrowed, the term of the loan, and the annual interest rate at which ...Read More

GTA REAL ESTATE MARKET WATCH 04/19

By: The Jean-Jacques Team

GTA REAL ESTATE MARKET WATCH 04/19

Tags: Average Home Price, Home Sales, GTA Real Estate, GTA Real Estate Market

April 2019 – Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS reported 7,187 residential sales through TREB’s MLS System in March 2019. This result was inline with 7,188 sales reported in March 2018. For the first quarter of 2019, sales were down by one per cent compared to Q1 2018. While March and Q1 sales remained relatively flat compared...Read More

Can You Afford to Move?

By: The Jean-Jacques Team

Can You Afford to Move?

Tags: Stress Test, Down Payment, Variable, Fixed Mortgage

The most recent mortgage qualification changes, specifically the mortgage "stress test" implemented at the beginning of last year, continue to impact the type of home Canadians are eligible to purchase. Has it affected your moving plans? Stress tests used to apply only to those who had a down payment of less than 20 percent; however, the updated rules now extend to anyone applying for a...Read More

Why Stage Your Home?

By: The Jean-Jacques Team

Why Stage Your Home?

Tags: Staging, Professional Home Stager, Decluttering

Interested in something that will attract more potential buyers, help your home sell faster and produce a higher selling price? Of course, you are! So, take a minute to learn about the benefits of staging.   Staging a home involves completely decluttering, depersonalizing and then recreating the appearance of your living space to make it easier for potential buyers to picture themselves livin...Read More

Ready, Set, Close!

By: The Jean-Jacques Team

Ready, Set, Close!

Tags: Paperwork, Purchase, House Inspection, Insurance Agent

Every home sale is a unique transaction. However, there are some things every homeowner can do to help support the smooth closing of a sale. The most immediate issue is to address the conditions of the purchase agreement that require action by you, the seller. These contingencies must be fulfilled by specific dates; not meeting them means having to arrange for an extension or even losing the sale...Read More

Terminology Tip: Debt-to-Income Ratio (DTI)

By: The Jean-Jacques Team

Terminology Tip: Debt-to-Income Ratio (DTI)

Tags: Debt-to-Income Ratio, Calculation, Borrower, Monthly Liabilities

The debt-to-income ratio, or DTI, is a calculation that determines how much a borrower can afford to pay every month toward their monthly debts.   The lender divides the amount of the borrower's monthly liabilities (including their new mortgage payment) by his or her pre-tax monthly income to determine whether the borrower would be able to repay their loan. The more debt the borrower has,...Read More