RE/MAX - Home Buyer's Seminar

I am going to be holding a series of Home Buyer seminars for people thinking about buying property in Toronto or in the GTA region.

This is a great opportunity to learn the key facts you need to know to get started in making a condo or house buying decision.

Perfect for first time buyers or anyone interested in better understanding the process of Real Estate.

Sign-up here or call for reservations at 416 579-2803.

Next two sessions will be on February 28th and on March 28th.

Great Mortgage Rates!

I have already mentioned that it's a great time to be a buyer in today's Toronto real estate market. Here is another reason why...

Mortgage rates are available at historic low levels. This means the cost of money to finance a house is next to nothing. This allows you to pay-down the principal more rapidly or afford more house than you would be permitted, if interest rates were higher.

I work with an Edward Ricciardi - a Mortgage Expert with Dominion Lending Centres. As a mortgage broker he can seek out the best rates and terms that meet the needs of each client, selected from dozens of different financial institutions.

How about these rates...

3 yr fixed........... 3.75%
4 yr fixed........... 4.09%
5 yr fixed........... 4.24% (OAC as of Feb 9, 2009)

You can contact him as follows:
Edward Ricciardi, MBA
Mortgage Expert, Dominion Lending Centres
T. 416-319-9127
www.edwardricciardi.ca

January 2009 Toronto Real Estate Market Statistics

The Toronto Real Estate Board reported sales for the month of January were 2,670 with the average price at $343,632.

This shows that the volume of homes being bought and sold is about half as many as were being traded a year ago at this time. The prices have declined by 4.9% from one month earlier and are now down by 13.7% from the market peak in May 2008.

Click on the chart for a larger version.

Front Pad Parking - Toronto

The city of Toronto has just sent a letter to real estate agents in the city, to remind them of city policy regarding front pad parking.

They wanted us to know that people buying a home with a front pad parking space need to re-apply to the city for a new license. The existing license belongs to the previous owner. It is not a right that is attached to the property. Thus we say it "does not run with the land".

Some useful resources:

Here is City's the letter...

current list of Toronto homes with authorized front pad parking spaces

City of Toronto Front Parking Pad Bylaw

Parking Pad Application Form


- Ralph