MY TORONTO

Have you ever been shopping on a website where you were looking at something that was on sale?   You were interested in it but there wasn't a sense of urgency and maybe, you had a lot going on and didn't get back to it for a few days.   When you did go back to the website, the price on the item had returned to its regular price. How did you feel?   Did you go ahead and purchase it for the current price?   How did that make you feel knowing that if you had acted more decisively, you would have saved money and had the product by now? In 2021, homes across the United State went up 19.1% on average.   There were some markets where the prices soared 30 to 40%.   Fortunately, last year the mortgage rates did remain relatively stable but that isn't the situation this year, in 2022. At the end of 2021, economists from Fannie Mae and Freddie Mac, felt like prices would go up around 7% for 2022.   The Mortgage Bankers Association and the Home Pri...

  BREAKING NEWS : Ontario cracks down on foreign real estate speculation with the toughest tax in Canada which is also being raised from 15% to 20% effective 30th March 2022. For more info click https://tinyurl.com/4txcd3te and https://tinyurl.com/5n77mf9x

SHAWN There are only two kinds of people in the world, The Irish and those who wish they were.   Shawn Venasse Sales Representative Sotheby's International Realty Canada 1867 Yonge Street, Suite 100, Toronto ON M4S 1Y5 c 647.250.9937 | t 416.960.9995 | f 416.960.3222 svenasse@sothebysrealty.ca ...

SHAWN Spring Forward on March 13th This weekend, adjust your clocks forward by one hour. Most people find it convenient to change their clocks before they go to bed on Saturday night.   Shawn Venasse Sales Representative ...

GRANITE PLACE 63 ST CLAIR AVENUE WEST SUITE #306 $1,350,000  

  Demand for Ownership Housing Remains Strong Throughout the G.T.A . February home sales were down compared to the record in 2021 but represented the second-best result for the month of February in history. New listings dropped by a marginally lesser annual rate than sales, pointing to a modest move to a slightly more balanced market. However, competition between buyers remained tight enough to support double-digit price growth year-over-year. Greater Toronto Area (GTA) REALTORS® reported 9,097 sales through the Toronto Regional Real Estate Board’s (TRREB) MLS® System in February 2022, representing a 16.8% decrease in the number of sales compared to February 2021. The supply of listings for low-rise home types (detached, semi-detached and townhouses) was also down year-over-year, but not by as much as sales. In the condominium apartment segment, particularly in Toronto, new listings were up compared to February 2021. For more information, refer to the full report HERE . All content...

SHAWN Roses are Red Violets are Blue Looking for a home? I'll find one for you! Shawn Venasse Sales Representative Sotheby's International Realty Canada 1867 Yonge Street, Suite 100, Toronto ON M4S 1Y5 c 6...

Real estate has been described as the basis of all wealth.   Without considering income or investment property, buying a home to live in is an incredibly powerful way to build wealth or financial net worth. A home is an asset measured by the size of the equity.   Equity is simply the difference between the value of the home and the amount owed.   There are two powerful dynamics at work to increase the equity which include appreciation and amortization. Appreciation occurs when the fair market of the home increases.   The shortage of available inventory coupled with high demand has contributed to an 18% increase in value in the past year on average for homeowners in the U.S. Most mortgage loans are amortized with monthly payments that include the interest that is owed for the previous month and an increasing amount that is paid toward the principal loan amount so that if all the payments are made, the loan would be repaid by the end of the term. A 30-year mort...

Two commonly known ways to lower your mortgage payments are to make a larger down payment especially if it eliminates private mortgage insurance and improve your credit score before applying for a mortgage. Another way to lower your payment would be to buy down the interest rate for the life of the mortgage with discount points.   A discount point is one percent of the mortgage borrowed.   Lenders collect this fee up-front to increase the yield on the note in exchange for a lower interest rate. A permanent buy down on a fixed-rate mortgage is available to borrowers who are willing to pay discount points at the time of closing. Let's look at two options on a $315,000 mortgage for 30 years at 4% interest with no points compared to a 3.75% interest rate with one-point.   The principal and interest payment on the 4% loan would be $1,503.86 compared to $1,458.81 on the 3.75% loan.   The $45.04 savings is available because the buyer is willing to pay $3,150 in poin...