LANDLORDS BEWARE

By: Desmond Brown

LANDLORDS BEWARE

Tags: Leasing, Landlords, City of Toronto, Relocation, Toronto Real Estate

Leasing units for landlord clients has become a big part of my business and for other realtors. While some landlords opt to do it themselves, others will ask us to help out by putting their income properties on our Multiple Listing Service (MLS) to find a new tenant. I recently had a home listed for lease in Scarborough. The other agent brought in an offer for a price that was acceptable to my l...Read More

DOWNTURN IN THE MARKET: Cause for Concern?

By: Desmond Brown

DOWNTURN IN THE MARKET: Cause for Concern?

Tags: Buyers, Sellers, City of Toronto, Toronto Real Estate, In the News

Recent headlines have screamed prices are down 12% compared to a year ago. Is this the beginning of a huge collapse in Toronto's real estate market? Has the bubble finally burst?  Well, after working in the media for 11 years, I know how newsrooms work. A lot of the reporters assigned to the real estate story after a news release from the Toronto Real Estate Board simply look at the decl...Read More

My clients got a great deal!

By: Desmond Brown

My clients got a great deal!

Tags: Buyers, City of Toronto, Toronto Real Estate

A lovely detached home that had been in the same family since the mid-1970s, came on the market a couple of weeks ago. It was listed for under $1 million and the agent held an offer date in hopes of getting multiple bids and a sale price well over asking. My clients viewed the home but decided that the odds of getting this house in a multiple offer situation were slim, so they passed on it.  ...Read More

A traditional spring market?

By: Desmond Brown

A traditional spring market?

Tags: Buyers, Sellers, First Time Home Buyers, Toronto Real Estate, In the News, City of Toronto

The headlines are saying sales in the Toronto real estate market are down by up to 35% compared to this time last year. That number looks huge, but we all have to remember the market a year ago was off the charts until the provincial government implemented cooling measures such as the tax on foreign buyers and new federal mortgage rules. This first few months of 2018 have still been steady as we&...Read More

We LOVE First Time Buyers!

By: Desmond Brown

We LOVE First Time Buyers!

Tags: First Time Buyers, Buyers, City of Toronto, Toronto Real Estate

Here's a story, written by my team member Jennifer Scaife, about a couple who recently entered the Toronto real estate market. Recently, Kassia and Cory were referred to me by a past client. Lively and energetic, they were eager to get going on their quest. We saw properties that challenged their tolerance for ‘fixer-upper’ and others whose state of ill-repair were jaw-dropping! W...Read More

INTEREST RATE INCREASE: Should we be concerned?

By: Desmond Brown

INTEREST RATE INCREASE: Should we be concerned?

Tags: Buyers, City of Toronto, Toronto Real Estate, Mortgages, In the News, First Time Home Buyers

Two weeks ago Bank of Canada raised its prime lending rate 0.25% points. As a result we're now seeing posted bank rates for five year mortgages at 4.64%. Experts are predicting the Bank of Canada will raise the prime rate a few more times over the next twelve months. With the average price of a home in Toronto at $730,000, the media reported that this was the beginning of the end for home own...Read More

By: Desmond Brown

Happy 2018

Tags: Buyers, Sellers, First Time Home Buyers, Green Real Estate, Relocate, Relocation Specialist, Seniors Real Estate, Toronto Real Estate

It's been nine years since I left journalism and returned to selling real estate. During these years, I've built a small team: Jennifer Scaife and Chanel Ugucionni as Sales Representatives, Heather Drudge as Marketing Director, and Daniela Kim as Client Care Coordinator - and now offer just about everything real estate related. In case you aren’t aware, here’s a little bit abo...Read More

By: Desmond Brown

Ban on Double-Ending Coming to Ontario

Tags: Buyers, Sellers, City of Toronto, Toronto Real Estate, Ontario Real Estate

A couple of years ago I listed a property in North York. It had been in the same family for more than 50 years and the house sat on a premium lot with a 40-foot frontage. The property was an ideal opportunity for a builder. We listed it for $1,199,000 on a Friday and set a date to review offers the next Tuesday. To my surprise, by the time Tuesday rolled around 15 agents had registered offers. On...Read More

By: Desmond Brown

New Stress Test for Mortgages: WHAT DOES IT MEAN?

Tags: Mortgages, Toronto Real Estate, Buyers, Sellers, City of Toronto, In the News

Some of my colleagues and mortgage brokers have been freaking out since last month's announcement about the new stress test requirement for all buyers.  In my opinion, this is a good thing.  This new change will definitely have an impact on what buyers can afford, but in the long run, they'll be better off and won't be mortgage poor.  If there's a hike in ...Read More

By: Desmond Brown

Bouncing Back?

Tags: Buyers, Sellers, City of Toronto, Toronto Real Estate

Yes, I know... statistics show that overall sales have dropped by 35% compared to this time last year. However, as an agent who is active in this market on a daily basis, this is some of what my team and I have experienced since the Fall market got underway after Labour Day: Lost in multiple offers for a home in Leslieville that sold for $300,000 over asking Lost in multiple offers for condo ...Read More