GTA Real Estate Market Watch 05/22

By: The Jean-Jacques Real Estate Team

GTA Real Estate Market Watch 05/22

Tags: Real estate in the GTA, Buying a home, First time buyer, Inflation

MAY 2022 – The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs, with the number of transactions down on a monthly and annual basis. As has been the case with previous rate tightening cycles, some home buyers have moved to the sidelines to determine how they will reposition themselves in the marketplace given the higher rate environment and related...Read More

Determining The Future Of A Neighbourhood

By: The Jean-Jacques Real Estate Team

Determining The Future Of A Neighbourhood

Tags: Home Market Value, The Future Of Neighbourhoods, Tips For Home Buyers

Imagine you have a crystal ball that enables you to see what a neighbourhood will be like in five years. Wouldn’t that be handy? You’d be able to get a glimpse of the area’s future before deciding to move there. Unfortunately, that crystal ball hasn’t been invented yet. But, you can still predict the future of a neighbourhood with a fairly high degree of accuracy. One way ...Read More

Places Buyers Look When Viewing your Home

By: The Jean-Jacques Real Estate Team

Places Buyers Look When Viewing your Home

Tags: Buyer’s perspective, Tips for sellers

You might be surprised to know which spaces in a home most buyers look at when viewing a property. If you’re preparing your home for sale, make sure to consider the following places that are likely to be checked out:   Inside closets. Buyers want to get a sense of the size and capacity of all your closets. Make sure they’re clean and well organized. Avoid the &...Read More

Terminology Tip: "Mortgage Stress Test" vs "GDS & TDS ratios" 

By: The Jean-Jacques Real Estate Team

Terminology Tip: "Mortgage Stress Test" vs "GDS & TDS ratios" 

Tags: GROSS DEBT SERVICE, TOTAL DEBT SERVICE, MORTGAGE STRESS TEST

The Gross Debt Service (GDS) ratio and Total Debt Service (TDS) ratio are the two basic measurements that Mortgage Lenders use to determine if a borrower can afford to carry mortgage payments on a house. The GDS ratio compares the borrower's gross income to the expenses of carrying mortgage payments (principal and interest), including costs such as heat, prop...Read More

GTA Real Estate Market Watch 04/22

By: The Jean-Jacques Real Estate Team

GTA Real Estate Market Watch 04/22

Tags: Real estate in the GTA, Buying a home, First time buyer, Mid-density housing

APRIL 2022 – There were almost 11,000 Greater Toronto Area (GTA) home sales reported in March 2022, capping off the third-best March and second-best first quarter on record. Tight market conditions continued to support a double-digit annual pace of price growth, with an average selling price of $1.3 million. The average selling price dipped slightly month-over-month, bucking the regular seas...Read More

How your Home’s Market Value is Calculated

By: The Jean-Jacques Real Estate Team

How your Home’s Market Value is Calculated

Tags: Home market value, Getting ready to sell, Tips for home sellers

Imagine you’re shopping for a used iPhone 11 that’s in good condition. You visit a resale website and discover that most are selling for approximately $350. Would you be willing to pay $400? Probably not. The market value is obviously well-established. There would be no reason to pay more   Pricing your home for sale is similar. Your home has a market value and, if you were to lis...Read More

DIY Kitchen Staging Ideas that will Wow Buyers

By: The Jean-Jacques Real Estate Team

DIY Kitchen Staging Ideas that will Wow Buyers

Tags: Home staging, Buyer’s perspective, Tips for sellers

The kitchen is one of the spaces that buyers tend to remember. They may forget the size of the third bedroom or whether there’s a closet in the front foyer, but the impression buyers form of your kitchen will linger on. That’s why, when you’re selling your home, staging the kitchen to look its best is so important. Here are some tips:   Remove cookware, small appliances ...Read More

Terminology Tip: "Assignment"

By: The Jean-Jacques Real Estate Team

Terminology Tip: "Assignment"

Tags: ASSIGNOR, ASSIGNEE, PRE-BUILT HOMES, PRE-BUILT CONDOS

An assignment is a sales transaction where the original buyer of a property (the "assignor") allows another buyer (the "assignee") to take over the buyer's rights and obligations of the Agreement of Purchase and Sale, before the original buyer closes on the property (that is, where they take possession of the property). The assignee is the one who ultimately completes the d...Read More

GTA Real Estate Market Watch 03/22

By: The Jean-Jacques Team

GTA Real Estate Market Watch 03/22

Tags: Real estate in the GTA, Buying a home, First time buyer, Mid-density housing

MARCH 2022 – February home sales were down compared to the all-time record in 2021, but represented the second-best result for the month of February in history. New listings dropped, but by a marginally lesser annual rate than sales, pointing to a modest move to a slightly more balanced market. Competition between buyers, however, remained tight enough to support double-digit price growth ye...Read More

Finding an Honest Home Improvement Contractor

By: The Jean-Jacques Team

Finding an Honest Home Improvement Contractor

Tags: Home Improvements, Finding A Good Contractor, Tips for home sellers

You can’t call yourself a dentist unless you have specific hard-earned credentials. Just about anyone, however, can hang a shingle and call themselves a home improvement contractor. That’s why choosing a reputable one is so difficult. Here are some tips: Find out if they are truly in business full-time. A part-time or occasional contractor may not have the experience necessary to d...Read More