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Mike Coughlan
YOU ROCK! You sold my place in seven days for a great price. I am very happy with the result. I’ll definitely use your services again and highly recommend you to anyone who is buying or selling. Cheers!Milana Cizmar2015-10-23T10:57:12-04:00YOU ROCK! You sold my place in seven days for a great price. I am very happy with the result. I’ll definitely use your services again and highly recommend you to anyone who is buying or selling. Cheers!https://www.mcizmar.com/testimonials/emilia/Alex and Gavin
Milana, Thank you for all that you did helping us find our new home. We really value our opinion and expertise. You were always patient with us too! Thank you also for the beautiful gift basket. It is very much appreciated.Milana Cizmar2015-10-23T11:14:41-04:00Milana, Thank you for all that you did helping us find our new home. We really value our opinion and expertise. You were always patient with us too! Thank you also for the beautiful gift basket. It is very much appreciated.https://www.mcizmar.com/testimonials/emilia-2/0Milana Cizmar
Should you Renovate when you are preparing your home for sale?
When you are thinking of selling your home, the very first thing you want to know is where to invest your time and energy in preparing your home for sale. Should you spend any money on renovating anything and what fix ups will yield the greatest return on your investment?
In terms of renovating, I usually advise against it. Renovating your home is very personal as well as subjective, what one person likes another may not. You want to appeal to a large audience of buyers when you list your home on the market. The best way to do that is by taking care of the basics first. Always spend time in these 2 areas:
Toronto and Etobicoke Real Estate Market Update for May 2021
Are you wondering how the real estate market did in Toronto and Etobicoke last month?
The May real estate home sales are in and we continue to see price acceleration and renewed demand for Condos in Toronto and Etobicoke. Here’s the lowdown on new listings, sales and the numbers to watch.
May 2021 real estate sales continued the ongoing story of tight demand and strong price gains in the GTA market. Although the number of sales in May declined for the second month in a row since the March 2021 peak, activity was still above pre-pandemic levels as well as the 10 year monthly average for this period.
What you need to know about the new Stress Test Rate
Since 2018, all Canadian home buyers getting a high-ratio mortgage were subject to a mortgage stress test – the test applies now to ALL mortgages. Regardless of your actual mortgage rate, everyone has to qualify using a stipulated rate.
The current stress test rate is 5.25% effective as of June 1st, 2021
Here’s how it works
When you apply for a mortgage (including joint mortgages), you’ll be offered a contracted rate (your actual Mortgage rate). However, your bank needs to check you’ll be able to pay back your mortgage, even if your mortgage rate rises during your mortgage term.
To do this, they check your ability to make your payments based on The Bank of Canada qualifying rate, which is based on the mode average of posted 5-year fixed rates from Canada’s big banks. Currently, the Bank of Canada qualifying rate is 4.79%.
High Ratio Mortgage
A High Ratio mortgage occurs when the down payment is less than 20% and needs mortgage insurance as well as a maximum amortization of 25 years.
In this scenario: $100k in income using the proposed Bank of Canada rate 5.25% qualifies for a $475,000.00 mortgage.
Conventional Mortgage
Mortgages with a 20% down payment or more, can have up to a 30 year amortization.
In this scenario: $100k in income using the proposed Bank of Canada rate 5.25% qualifies for a $520,000.00 mortage.
Interested to learn more? Please get in touch with me if you would like to be connected to one of my mortgage brokers who can get you pre-approved to find out how much mortgage you qualify for at today’s rates.
If you are a first time buyer and would like to know how much it will cost you to buy your first home. Download a copy of my Free First Time Home Buying Costs Guide. It goes into more detail besides mortgage fees, learn about costs for Home Inspection, Provincial and Toronto Land Transfer Tax, Real Estate Lawyer Fees, Home Insurance and more. You can download your free guide here.
428 Martin Grove Road, For Sale in Etobicoke
Have you seen 428 Martin Grove Road yet? Know someone looking for a Great Opportunity to Live in a Fabulous 4 Bdrm 4 Level Sidesplit steps to West Deane Park?
Listed for $1,149,000!
Rare 4 Bedroom 4 Level Sidesplit in Excellent Etobicoke Location, Sunny and Spacious for your growing family, large bright living room, open concept dining and kitchen overlooks backyard, hardwood floors throughout, his and hers closets in master bedroom, lower level with extra kitchen, recroom and laundry, extra storage in crawl space, wonderful private and serene backyard with new concrete patio and gazebo. Park 4-6 cars easily in long double driveway. Highly Desirable Family Neighbourhood steps to West Deane Park and Trails, Martin Grove outdoor rink & tennis court, close to schools, shopping. Easy Access to 427 & 401.
New flagstone in front and concrete patio in bkyrd (2020), A/C (2012), Furnace (2011), Roof (2010).
Include: 2 Fridges, 2 Gas Stoves, B/in DW in Bsmt (As Is), Upright Freezer in Bsmt, Washer & Dryer, All Window Coverings, All Electrical Light Fixtures, Gas BBQ and Gazebo in Bkyrd.
Toronto and Etobicoke Real Estate Market Update for April 2021
Are you wondering how the real estate market did in Toronto and Etobicoke last month?
The April real estate home sales are in and we continue to see record sales numbers, price appreciation and a brisk market pace in Toronto and Etobicoke. Here’s the lowdown on new listings, sales and the numbers to watch.
Is it time to make that move before it’s too late?
The real estate market has just boomed in the first quarter of 2021 alone! You hear just how “HOT” the Toronto and Etobicoke real estate markets are, as buyer frenzy and bidding wars run rampant on pretty much every house for sale in the neighbourhoods!
So many people are making moves from their current housing situation, moving out of the city and into larger homes. So many buyers are looking to move out of their condos into a house with more space.
Toronto and Etobicoke Real Estate Market Update for March 2021
Are you wondering how the real estate market did in Toronto and Etobicoke last month?
The March real estate home sales are in and we continue to see record sales numbers, price appreciation and frenzied market pace in Toronto and Etobicoke.
Toronto and Etobicoke Real Estate Market Update for February 2021
Are you wondering how the real estate market did in Toronto and Etobicoke last month?
The numbers are in and despite the state of emergency, we continue to experience record home sales in Toronto and Etobicoke.
Why now is the best time to plan your home improvements!
It’s cold outside and we are all still under stay at home orders here in Etobicoke.
Why don’t you take advantage of this time at home to plan out those home improvements you’ve been meaning to get to? Now couldn’t be a better time! You can’t tackle the outside of your home just yet but, you can get ideas and finally write out a plan for those projects you’ve been meaning to get to. You know those projects – on your to do list?
Mimico and New Toronto Real Estate Monthly Report
You’ve no doubt heard how HOT the real estate market is in Toronto these days. But what is it like in the Mimico and New Toronto neighbourhoods?
It continues to be a hot market in these neighbourhoods too. There was a total of 152 homes sold last month in January 2021. Of those 109 were condominiums!
January 2021 Sold Prices
Take a look at the average sales price for each home type in Mimico and New Toronto below.
