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What is Mortgage Payment Deferral?

The Coronavirus crisis has left many homeowners in Canada without a job or with reduced hours and wondering how to pay their mortgage. Homeowners facing financial stress may be eligible for a mortgage payment deferral up to 6 months to help ease the financial burden. The COVID-19 Mortgage Payment Deferral program will be ongoing. You […]

Market Watch – COVID-19 Weighing on The Housing Market

The Canadian real estate market is adjusting to tightened restrictions on doing business as properties continue to swap hands in the midst of the COVID-19 pandemic. Much of March’s activity began in the first two weeks of the month before the State of Emergency order was put into place. In fact, we had a head […]

What you need to know about Home Inspections

So you’ve fallen in love with a new home and have decided to make an offer. But before you do, speak to your real estate agent about getting a home inspection. Having a professional home inspector go through the property and assess its current condition will give you a better sense of whether you want […]

The Bank of Canada Brings Out The Big Guns

Following the surprise emergency 50 basis point (bp) rate cut by the Fed, the Bank of Canada followed suit yesterday and signalled it is poised to do more if necessary. The BoC lowered its target for the overnight rate by 50 bps to 1.25%, suggesting that “the COVID-19 virus is a material negative shock to […]

BREAKING NEWS: Morneau Eases Stress Test on Insured Mortgages

Minister Morneau Announces New Benchmark Rate for Qualifying For Insured Mortgages The new qualifying rate will be the mortgage contract rate or a newly created benchmark very close to it plus 200 basis points, in either case. The News Release from the Department of Finance Canada states, “the Government of Canada has introduced measures to […]

Condominium Occupancy Fees

Condominium Occupancy Fees

Whenever you purchase a new condo, there is a period of time between when you take occupancy of your unit and when you take ownership of your unit. This is known as the ‘occupancy period’ or ‘interim occupancy’. During this period you will be requested by the developer to pay occupancy fees or ‘phantom rent’ […]

Claim Your First Time Home Buyers Tax Credit

Did you buy your first home in 2019? If so, the Federal Government has a program that just might put $750.00 back in your pocket, or half of that, if only one of the two people on title is a first-time home buyer. To confirm whether or not you meet the criteria be sure to […]

Is Your Roof at Risk?

The following will help you identify the potential for roof failure.   CURLING The upward curling of shingle tabs makes them highly susceptible to wind and ice damage. This is a problem on older roofs where moisture build-up in the attic affects the underside of the shingle.   BROKEN SHINGLES   Damage can be caused […]

Pricing Your Home Competitively

Pricing Your Home Competitively Pricing your home correctly is one of the most important aspects of selling your home, and it can also be one of the most difficult. If you price your home too high above its market value, you risk discouraging serious, qualified buyers. If you price your property below market value, then […]

FIRST-TIME HOME BUYERS’ TAX CREDIT

As of January 27, 2009, first-time home buyers may be eligible for an income tax credit for their closing costs.  However, “first-time home buyer” can be misleading.  Please consider the following: WHO:  An individual is considered a First-Time Home Buyer if neither the buyer, or his/her spouse or common law partner owned and lived in […]