GTA REAL ESTATE MARKET WATCH 11/18

By: The Jean-Jacques Team

GTA REAL ESTATE MARKET WATCH 11/18

Tags: 2018 Real Estate, Average Home Price, Home Sales, GTA Real Estate, GTA Real Estate Market

November 2018 – Toronto Real Estate Board President Garry Bhaura announced year-over-year increases in home sales and average sale prices reported through TREB’s MLS System in October 2018. Greater Toronto Area REALTORS reported 7,492 sales through TREB’s MLS System in October 2018 – a six per cent increase compared to October 2017. On a preliminary seasonally adjusted bas...Read More

Site Unseen

By: The Jean-Jacques Team

Site Unseen

Tags: Out-of-country, Technology, Home Inspection

Could you imagine buying your next house, before even physically stepping foot into it? For any number of reasons, you may find yourself in that position.   In the process of being transferred from one end of the country to the other, and have time and logistical considerations that make it impossible to visit properties in person? Looking to buy an investment property in another province? On...Read More

Stop Before You Shop

By: The Jean-Jacques Team

Stop Before You Shop

Tags: Mortgage, Pre-approval, credit score, debt-to-income ratio

The holiday music has already replaced the background muzak in many stores, which usually means the pressure of gift buying is quickly rolling in. Before you shop until you drop, take a step back to remember your larger goals, and how mindless spending (and over-spending) can put a big dent in your finances, and set back your long-term plans. If you're planning to buy a new home in the new ye...Read More

Is

By: The Jean-Jacques Team

Is "As Is" Good Enough?

Tags: Tag: “As Is”, Home Inspection, Defect, Repairs, Renovations, Caveat emptor

Sellers are sometimes encouraged to have a professional home inspection conducted before they list their house, so they can take care of any repairs before taking the chance that defects show up later that delay or even cancel a buyer's offer. Some sellers, however, will forego the inspection process and list a property "as is". Why would a seller list their property "as is"...Read More

Terminology Tip: Comparable Property Sales

By: The Jean-Jacques Team

Terminology Tip: Comparable Property Sales

Tags: Comparable Property Sales, Comparables, Comps

Also referred to as "Comparables" or "Comps," Comparable Property Sales help to determine the value of a property by comparing sales of homes that have similar characteristics (size, condition) and are situated in a similar area to the property being sold. By analyzing the recent selling prices of comparables, a homeowner, real estate sales representative and/or an appraiser ca...Read More

GTA Real Estate Market Watch 10/18

By: The Jean-Jacques Team

GTA Real Estate Market Watch 10/18

Tags: 2018 Real Estate, Average Home Price, Home Sales, GTA Real Estate, GTA Real Estate Market

OCTOBER 2018 – Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS reported 6,455 sales through TREB's MLS System in September 2018 – up 1.9 per cent compared to September 2017. The average selling price for September 2018 sales was up by 2.9 per cent over the same period to $796,786. The MLS HPI composite benchmark price was up by two...Read More

Time to Retire Your Home?

By: The Jean-Jacques Team

Time to Retire Your Home?

Tags: Senior Homeowners, Canada Pension Plan, Old Age Security, retirement

A recent Ipsos poll has found that as homeowners age, their attachment to their home grows, resulting in nine out of ten Canadian homeowners age 65 and older voicing their preference for staying in their current home throughout their retirement. Would that make sense for you? All wishes and intentions aside, the reality is that almost 15 percent of Canadian seniors have a mortgage, so between hou...Read More

Your Future Home

By: The Jean-Jacques Team

Your Future Home

Tags: Advanced Technology, GPS System, Smart Appliances

Technology is being developed faster than most of us can keep up with these days, and there are so many interesting ways to incorporate it into our homes, whether for our own use or to boost the interest in our house or condo when the time comes to put it on the market. Here are just some ways to update and connect your kitchen with technology. For a truly connected kitchen, look for new kitchen ...Read More

Good Deal or No Deal?

By: The Jean-Jacques Team

Good Deal or No Deal?

Tags: Condominium, Real Estate Representative, Home Inspection

At some point, you may stumble across a vacant condominium that's available for immediate occupancy. How can you tell if it's a "good deal," or something you should back away from?   Your real estate representative is your best source of information on the top home values in your area. Here are some discussion points you can go over. How long has the unit been vacant, and ...Read More

Terminology Tip: Fair Market Value

By: The Jean-Jacques Team

Terminology Tip: Fair Market Value

Tags: Tags: Fair Market Value, Selling Price, Highest Price, Lowest Price

This is the selling price to which a buyer and seller can agree, depending on market conditions. Fair market value is the highest price that a buyer would pay for a property, and the lowest a seller would accept, assuming both parties are reasonably knowledgeable about the property and are under no pressure to buy and sell. Sale prices of similar properties in the same area are valuable in determ...Read More