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Foreclosure, Power of Sale or Short Sale. What’s the Difference?
There is an old saying often heard in gyms: “You can’t out-exercise a bad diet.” When it comes to real estate, think of the mortgage as the diet and the exercise as your ability to make the payments. If one gets out of balance with the other, eventually something has to give. With homeowners continuing…
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Heat Pumps… With Strings Attached
As with many incentives offered by the federal and provincial governments, when you take a closer look, things are not always quite what they seem. They do, however, make great headlines. The latest example is the government rebates being offered to homeowners installing electric heat pumps. On the surface, the incentives sound impressive. But before…
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In This Market, Hope Is Not a Marketing Strategy
One of the first things I learned when I started my Real Estate career is that the one law that governs most of how the housing market works is the “Law of Supply and Demand.” It is a line that is so commonly used so let’s look into what it really means; Law of Supply…
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Who Gets the House? Marriage, Common Law and Ontario Real Estate
I’ve had two separate but related experiences lately that caused me to shake my head. Then again, this is Ontario, and after 40 years in real estate I should probably have learned that very little should surprise me. Before I go any further, let me make something perfectly clear: I am not a lawyer. I…
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Ontario’s Housing Crisis Is Changing: More Rentals, Fewer Homes to Own?
Ontario still has a housing crisis, but the nature of that crisis is changing. For years, the conversation focused on a shortage of homes, rising prices and the difficulty first-time buyers faced getting into the market. Today, another issue is emerging: Ontario may be building more housing, but an increasing share of that housing is…
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Two Headlines. Both True. Both Misleading.
We are at the end of another month, which means it’s time for me to do what I do every month: dig into the numbers and figure out what is really happening in the real estate market. I am a self-confessed “stats hound,” and I wear the title proudly. But today, I’m going to poke…
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Human Nature vs. Opportunity
I remember a conversation I had while driving around with a buyer very early in my real estate career. I was green and still learning the business, but even then I had a sense that real estate moved in natural cycles. Markets heated up, cooled down and eventually changed direction, usually influenced by the broader…
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When Is It Time to Move On?
Over the weekend, I listened to a radio discussion about people who repeatedly run for political office but never win. They were described as “perennial” or “serial” candidates. We have a local example of someone who has run for mayor, regional chair several times, and as a Progressive Conservative candidate in a provincial election, without…
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We Want It Now. Even When It Comes to Buying a House.
I was listening to a podcast recently about how instant gratification has quietly become the default setting for almost everything we buy. Hungry? Tap an app and dinner arrives at your door. Need a phone charger? Amazon has it on your porch tomorrow. Need a ride? Uber shows up before you’ve finished your coffee. We’ve…
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Needs vs. Wants: The Hidden Force Behind Every Real Estate Negotiation
In real estate, price is often determined by supply and demand. Negotiations, however, are often determined by something entirely different: needs and wants. Most of us understand the difference. We may want a new vehicle, a larger home, or a backyard swimming pool. Those are wants. A need is different. A need creates urgency and…
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