MY TORONTO

775 KING STREET WEST - SUITE #1005 Asking $650,000 This one bedroom condo with den features approx. 670 sq.ft. of delightful interior space including high ceilings, floor-to-ceiling windows, open concept galley-style kitchen with stainless steel appliances, double mirrored closets in bedroom and a walkout to a large balcony with unobstructed views west and south to the lake. This condo also features excellent amenities such as: 24-hour Security/Concierge, exercise room, media room, outdoor lounge & BBQ area, party/meeting room, guest Suite and bike storage. This stunning unit includes one car underground parking spot & a locker and is perfectly situated on the King Street 504 Streetcar line with easy access to buses and subways leading to all points throughout the City. 775 KING STREET WEST  is situated in the heart of one of Toronto’s trendiest, up & coming neighbourhoods and is close to The Fashion District, Liberty Village, Ossington & West Queen West, Rogers Cen...

  Once you have found the right home and applied for a mortgage, there are some key things to keep in mind before you close. You are undoubtedly excited about the opportunity to decorate your new place, but before you make any large purchases, move your money around, or make any major life changes, consult your lender – someone who is qualified to tell you how your financial decisions may impact your home loan. Below is a list of things you should not do after applying for a mortgage. They are all important to know – or simply just good reminders – for the process. 1. Do not Deposit Cash into Your Bank Accounts Before Speaking with Your Bank or Lender.  Lenders need to source your money, and cash is not easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. 2. Do not Make Any Large Purchases Like a New Car or Furniture for Your New Home .  New debt comes with new monthl...

Debt-to-Income ratio is a tool that lenders use to qualify buyers for a mortgage and is an important factor in determining loan approval.   It provides an indication of the amount of debt that a potential borrower is obligated to in relation to how much income they have. Total monthly debts are determined by adding the normal and recurring monthly debt payments such as monthly housing costs, car payments, minimum credit card payments, personal loan payments, student loans, child support, alimony, and other things. By dividing the monthly income into the monthly debt, you arrive at a percentage of the monthly income.   Lenders actually look at two different ratios commonly called the front-end and the back-end. The front-end ratio is the proposed total house payment including principal, interest, taxes, insurance, mortgage insurance if required, and homeowner association fees.   Lenders generally don't want these expenses to be more than 28% of the monthly gross inco...

  When the weather outside is frightful, a fire can be so delightful. That is what the song says, anyway. But loads of homeowners tend to agree with the sentiment, so surely, they cannot all be wrong. Adding a fireplace to your home can seem like a big undertaking, but there are several options for homeowners looking to add a little snap, crackle, and pop to their living spaces. Fireplaces: Beyond the Chimney Long, long ago, there was only one way to have a fire indoors: you had to have a brick chimney to contain the flames and keep everybody safe. However, that was back then; today there are lots of options for adding fireplaces to your home without having to also add a new chimney or repair an old one that is no longer in use. This is great news, especially if you really want a fireplace for ambiance, rather than to be used as a primary heating or cooking source. While wood-burning, masonry fireplaces have a sort of rustic, nostalgic appeal, today’s modern ventless options ...

 

THE QUEENS ANNUAL CHRISTMAS SPEECH - 25TH DECEMBER 2020

Ideally, each party will pay their own closing costs associated with the purchase and the sale of a home, but they can be negotiable based on lender requirements and market conditions. The fees are usually paid at the settlement and will be itemized on the closing statement.   Buyers should be aware of them before contracting for a home.   If a mortgage is involved, the lender will want to verify that the borrower has ample funds available at closing to pay for them. Buyer's closing costs can range between two to five percent of the sales price.   The real estate agents should be able to give you an estimate of what a buyer can expect.   The most accurate estimate will come from the lender at the time the loan application is made. They may or may not include other fees that will be charged to buyers by the title or escrow company. Buyers are required to be provided a standard Closing Disclosure form at least three business days before the loan closing date. ...

What a COVID-19 Vaccine Could Mean for Canadian Real Estate Markets Nearly a year after the first reported case of COVID-19, pharmaceutical giants announced a vaccine was on the way. Pfizer and Moderna both say their research is promising and Canada has inked deals with both to secure millions of doses. In total, Canada has procured more than 358 million does from seven companies,  according to CBC . While some countries have announced plans to begin vaccinating their residents as early as December 2020, some Canadians will have to wait a bit longer. However, the news is still a bright light at the end of the long pandemic tunnel. A safe, effective and accessible vaccine would mean the end of lockdown policies and other safety restrictions. We spoke to our team of economists to see how they think this news could impact the economy and housing markets across Canada. How will the economy, in general, be impacted by a vaccine? A vaccine will allow individuals to go out and interact wi...