If you are considering refinancing, there are a number of things that will impact your decision. Mortgage payments are one of most people's largest monthly expenses, and refinancing can make these more manageable. Refinancing can also be beneficial if you are financially stable but worry about the future. The following information will help you determine if now is a good time for you to refinance your Toronto real estate.

Lower Monthly Payments

Improved Credit Score

Stable Fixed Rates

Equity for Immediate Expenses

Increase Equity in Toronto Real Estate

Welcome too my rant! Tune in for my occasional take on what’s going on in the world of real estate and beyond. We seem to be living in a surreal world of make believe.

In real estate we stage homes to sell. Sellers believe staging helps sell their homes and buyers get a better vibe about a staged home. This is true to a point. We encourage our buyers to see beyond the neutral greys and Home Sense appeal that they are buying into because that is not what they are actually purchasing. They are purchasing a neighbourhood, number of bedrooms or bathrooms, school district, a garage and most importantly these days, a home office. That Home Sense decor will not be there when buyers move in! And, a wall can be painted!

Our sellers are advised to do 3 things 1) declutter 2) declutter 3) declutter. A home free of clutter gives potential buyers their first impression of the living space that is a very important feature of any home. Once decluttered, we can stage areas we feel need an added touch, be it a piece of art, a floor lamp or a pop of colour with some flowers in order to showcase it’s finest features.

We deal with it all and we’ve heard it all. We could write a book! We recently showed a home to clients who commented, “it hasn’t been painted”. It had been recently painted (I could smell the fresh paint through my mask). It just hadn’t been painted Benjamin Moore silver satin grey!

I long for the buyers who appreciate something different, something with charm and character. Admittedly, I love the modern clean lines of newer homes but, at times I do feel like screaming, “put down that decor magazine, think about what YOU like and be brave enough to buy it”!

We don't usually post property crush leases but, this one deserves attention!

The design features pop! We love the ladder in the kitchen and the subtle ensuite door-in-the-wall.

And, admittedly, we are huge fans of loft properties.

Call us if interested in leasing this unit in the iconic Tip Top Lofts.

637 Lakeshore Blvd. 1018 - Toronto

Rental: $12,000 / month

Listed by: Andrew John Harrild, Salesperson, Property.Ca Inc., Brokerage

Overview of Greater Toronto Area housing market activity during March 2021.

Luxury and location at it's finest....be one of the first to own an indoor sky pool.

Mississauga is a fantastic place to live or invest in real estate. It's the 6th largest city in Canada, only a 30-minute drive to downtown Toronto or just over an hour to Niagara Falls. It's a great place for those looking for work, to live and retire. With a charming lakeside, many parks and fabulous restaurants, you can find your paradise minutes from your front porch. If you are looking to buy or sell property in the area, here are our tips for the Mississauga real estate market for 2021.

Good News for Sellers 

The Toronto Regional Real Estate Board (TRREB), which gathers data on the market on a monthly basis, shows the average price of a house had risen by $100,000 from January to February 2021. This also represents a 14.9% increase from February 2020. A word of caution: we don't know when the rising will stop, so selling sooner rather than later will ensure you too can capitalize on this trend.

Good News for Buyers 

The number of new listings increased from 859 in January to 1,337 in February. There are many opportunities for you to find your dream house, however, properties are going fast. This past month, properties were receiving multiple offers and selling in a very short time period. You must act quickly to get your home!

Luxury Properties in Demand 

The impact of the ongoing pandemic has caused people to be keener than ever to follow their dreams. Often this means changing their lifestyle by moving out of city centres for more space and proximity to green spaces. “Stay at home” orders prompted buyers to find homes with pools or pool-size yards with “staycations” in mind. And, with the increased necessity of remote working, larger properties also offered options for increased office space. These ‘move-up' buyers sought luxury properties, like those in gorgeous Mineola.

Key Locations 

The City Centre, Churchill Meadows, and Hurontario are three popular locations as they are within close proximity to amenities, public transit remains relatively affordable. Those looking for excellent schools may be drawn to Lorne Park, known for some of the most desirable schools in Mississauga. For those seeking a trendier lifestyle, Port Credit is often the location of choice.

It's a Great Time for Investors 

The word ‘investors' can conjure up a mental image quite unlike the reality. Many real estate investors are simply normal homeowners. Investors can write off expenses against the income from rent, and with the tenant paying the mortgage, there is the expectation of benefitting from anticipated future house price values. This, in conjunction with low interest rates for the foreseeable future, makes it a great time to invest in real estate.

Real estate in Mississauga had a great 2020, and this looks set to continue for 2021. Whether you are moving up, across, retiring, or investing, 2021 will be an excellent time to do so. Call Nancy at 416-985-1486 or Dave at 416-894-4079 at GTA Selling today. 

Overview of Greater Toronto Area housing market activity during February 2021.

Overview of Greater Toronto Area housing market activity during January 2021.

Love it for the unique story behind it….

The Versailles inspired mansion was featured in the Emmy award winning Canadian show Schitt’s Creek. Fan’s of the show take note! The Belle Maison, located in the the prestigious St. Andrews-Winfield Toronto area, boasts 12 bedrooms, 16 washrooms, Sistine Chapel inspired frescoes, ornately carved limestone, indoor and outdoor pools, a gym, theatre, grand marble staircase and 4 car garage.

Becoming a homeowner is a major milestone in life, and if you're buying a house in Toronto, there are a few key elements you should keep in mind during the process. From the financial preparation to walking through your new front door, here are our top tips to consider during your house hunting journey.

1. Evaluate Your Finances

Some home buyers have spent years saving up for a down payment, but that doesn't have to be the case in every scenario. The best way to evaluate your price range is to pre-qualify for a mortgage at your bank. With this information, you can then start researching the different neighbourhoods of Toronto to see which is in your price range.

This is a great point to go ahead and bring in a realtor to help you evaluate your price setting and keep your house goals realistic.

2. Consider the District

Each individual or family is going to need different things when it comes to their neighbourhood and community. Do you have small children that will be going to school for the next several years? That is a major factor to take into consideration when choosing a neighbourhood for your house hunt.

But if your children are older, you might be willing to drive them to school for a year or two across town so you can be in a neighbourhood better suited for the empty-nester you will soon be. Or maybe you don't plan on having children at all, which means other determining factors will come into play. It's important to reflect and research all the ends and outs of each neighbourhood so you can make the best decision for your lifestyle.

3. Decide What You Can't Live Without

Now that you know your price range and your top choices of neighbourhoods, you should consider the things that your new house NEEDS to have. How many bedrooms does your family require? Do you need a large backyard for your pet? Make a list of must-haves, but also a list of things you'd like to have, but that you are flexible on. This list is important to keep with you on your house hunt!

4. Start the Hunt

If you haven't contacted a realtor yet during the process, this is the point where having an expert on your team will make the process exciting instead of daunting. And that's important because the actual house hunting is the best part! You'll attend showings and see inside the current homes on the market. Keep your must-haves list in mind, and be prepared to make an offer quickly, as houses in Toronto can go fast.

Because the housing market in the Greater Toronto Area is competitive, be sure to choose more than one house to make an offer on, just in case you don't get your first pick.

5. Closing the Deal

Once your offer is accepted, you're nearly there! You'll then book a home inspection of the house and an appraisal before finalizing your mortgage approval. All that's left is to sign the papers and hire a moving company.

Buying a house is exciting, and having an expert on your side makes all the difference. Call Nancy at 416-985-1486 or Dave at 416-894-4079 at GTASelling.com to start your journey as a homeowner off on the right foot.

Overview of Greater Toronto Area housing market activity during December 2020.

High demand and low inventory have created an unlikely housing situation in Canada: booming house prices. This scenario is expected to carry-over into 2021 as lifestyle changes bring some people into cities and encourage others to search for more space. And Canada's most populous city is not immune to these changes, with Toronto house prices reflecting shifting priorities.

Are Toronto House Prices Increasing or Decreasing in 2021?

The answer is increasing, as housing supplies continue to drop and demand rises. This is owed to immigrant homebuyers who are expected to enter Toronto for educational purposes. First-time homebuyers are also likely to move into the city in hopes of finding affordable condominiums, which still reflect a buyer's market thanks to diminished demand. The rest of the market, including single-family homes, continues to favour sellers.

Toronto housing prices are expected to climb by an average of 6% in 2021. Forecasts for condo prices, however, suggest a stall at an increase of less than 1 percent. This upward mobility is expected to spread across Canada, with home prices projected to rise by 5.5% to an average of $746,100. Condominium prices are similarly expected to climb a modest 2.25% to $522,700.

Desirable Areas

Although Toronto will likely see a spike in home prices, it falls a little short compared to numbers forecasted for other areas. The key is in location; many Canadians are seeking larger, more spacious homes they can also work from. The COVID-19 pandemic has given way to fewer people commuting to offices. As this trend persists, people find they have the flexibility to work from anywhere and thus want to explore their options.

Retiring baby boomers likewise want out of congested cities and to settle into quiet but convenient towns. Those areas expected to witness above-average home prices include:

• Vancouver 
• Halifax
• Ottawa

Moving Out of the City

Suburban neighbourhoods in Vancouver are also expected to be top performers with their access to outdoor space. An August 2020 survey echoes this sentiment, finding that 32% of Canadians want to relocate from urban centres into small towns or the suburbs.

Recreational Housing

Forecasters also anticipate an 8 percent jump in the average price of recreational properties. Eighty-six perecent of recreational regions now report insufficient home inventories as buyers look to work remotely from farmlands, seaside cottages, and ski chalets.

As little as two years ago, shoppers sought these properties to relax on the weekends. Now, however, attitudes have shifted, and buyers seek recreational homes not as holiday getaways, but as their primary residences. The following illustrates how prices have risen, on average, in the last year:

• Single-family recreational homes are up 11.5%
• Recreational condos are up 9.7%
• Waterfront properties are up 13.5%

Home market activity will likely be driven by a combination of move-over and move-up buyers as prices across Canada, including in Toronto, continue to rise. For more information on buying or selling your home, contact Nancy Pierce at 416-985-1486 or Dave Duncan at 416-894-4079.