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A Conversation about Renting vs. Owning
I had a chat with a friend over the weekend who shared with me how owning a property was for him, not an option. Not because he could not afford one, but because he felt that owning Real Estate would impact his life in not so positive ways. One thought was that by owning a…
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How Can I Make $4,500 from a $1,000 Investment?
When I started my career in the 1980s, one of the central themes for Buyers was to work toward paying the mortgage off. I remember mortgage document “burning parties” where a group of friends would get together and celebrate a mortgage being paid off and getting calls from a homeowner who shared that they had…
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Mortgage renewal? Your Decisions Could be Worth Thousands.
I attended a housewarming party this past weekend that was super fun. The Buyers of a condo did a complete renovation and invited the professionals they hired to help them along with some of their friends. We were invited as their realtors, along with the person who helped design the kitchen, the general contractor and…
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Busting through Real Estate Myths
I thought I would take some time and offer some truths on common misconceptions in the world surrounding Real Estate. I have heard many things Buyers and Sellers have shared with me over the past 40 years that might fit more into “wives’ tales” or just plain silliness. Let’s look at a few of the ideas that…
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What is a parking spot worth?
I took a look at what developers are charging for parking spots on newly built condos locally. Tribute has several towers on Simcoe and the lowest priced unit with a parking space is listed for $714,000. This unit is 828 sq feet. Another unit with no parking and at 482 sq ft is priced at…
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Understanding Real Estate by Reading Trends
One thing I love to do is to make predictions. In December 2023 I made some predictions about where the values in Oshawa, Whitby and Clarington would be in May 2024. Let’s review my thoughts and see how accurate I was.The 4th quarter of 2023 was challenging time for Sellers, with values declining and sluggish sales. For…
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Durham Real Estate – Timing is Everything
Last week was March break and typical for this week many of the Buyers who would normally be looking, were entertaining their children. A recent survey found that 59% of recent Buyers were married couples and with this, March break normally sees a slight slowdown in Buyer activity. This year was no different. Comparing the…
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How Bank Pre-approvals Help Buyers
I had an experience over the past week that caused me to shake my head a little, like a Rob Ford bobblehead. Actually, this experience has been repeated too many times to count over the past year. Personally, I could frame it as “how to kill a home sale before you get to the starting…
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Another Federal Real Estate Incentive Disappears
It came, it went and honestly very few people had any idea what it was. I am talking about the “First Time Home Buyers Incentive” program. This complex program seemed doomed from the beginning, with the gain in equity shared by the Federal Government. The maximum a first time Buyer could spend to qualify for…
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Real Estate Investors Love Durham Region
With investors returning to Real Estate many have chosen Durham Region as the best place to invest in. There are many reasons for Durham being their first choice and I felt it would be best to share why so many investors look east of Toronto when considering purchasing a rental. Let’s begin with rents. When…
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