Recent Blog Posts by CENTURY 21 Leading Edge Realty Inc.

Choosing an agent

Choosing the right agent is almost as important as choosing the right house. The right agent will have the  experience, strategies, personality and taste that will further your goals. Choosing one with a style that harmonizes with your own will make the house-hunting and/or selling process much more enjoyable and productive. Ask questions: Before hiring an agent, be sure to ask pertinent  ...

Condos attracting those near and far

The booming condominium market in the GTA has been fueling real estate sales for years, providing buyers with options for investing and living.   TD Canada Trust’s 4th Condo Poll revealed that the low maintenance of condos compared to homes is the biggest motivation for those buying condos, making up 36 per cent of their decision-making power, while affordability comes in second at 24 per ...

Consumer Debt

If Canada’s household debt were evenly divided up between all Canadians, a family with two children would collectively owe $176,461. A bit of scary information, isn’t it? This statistic was recently revealed in a study conducted by the  Certified General Accountants Association of Canada. Household debt, defined as the outstanding balance of household credit, including consumer credit ...

Historic Charm

There’s something about a home that tells stories of yesteryear through its creaks and carved mouldings, in its worn bricks and scuffed floors. It’s not just a building, but also a part of our social and architectural history. Lyn and Dick Mullen know all about historic charm. They welcome visitors into their 19th century home on a regular basis to experience the history and stories ...

Tips for First-Time Home Buyers

You’re tired of renting and paying for someone else’s mortgage every month. You’ve been saving for years and decided it’s time to purchase your own piece of real estate. Great! Investing in real estate can be a very profitable and fulfilling step. But now what? Becoming a homeowner can be a little daunting, especially when you’re as green as they come. And like Heather ...

Shooting Home Interiors

You’ve tried to show a home in its best light. You’ve taken photos of all of the rooms and features, but they just lack that wow factor. There are a few key factors to consider when shooting interiors that can mean the difference between a dark, dingy, lackluster home and a bright, inviting, sharp interior. Set up the shot The room or vignette has to look good before the camera can record ...

New Mortgage Rules

After Finance Minister Jim Flaherty announced new mortgage rules for 2011, many homeowners and prospective homeowners began to panic. There are three changes that will take effect on March 18th of this year: Maximum mortgage amortization periods will be reduced from 35 to 30 years. The maximum borrowing limits for refinancing a mortgage will be reduced from 90 per cent to 85 per cent of the value ...

Top 10 Home Staging Tips

Each of us wants to show our home in its best light. We want guests to be wowed by it and prospective buyers to choose it out of all the homes they tour. Luckily, a few simple steps can help move your abode to the top of the list.  According to  Moneysense Magazine, home staging can bring in six per cent above a home’s asking price. 1. Curb Appeal Statistics say potential buyers will ...

Applying For a Mortgage

It’s the largest financial investment many will make in a lifetime. Entering into a mortgage is a responsibility not to be taken lightly. Preparation is key. Learning how to apply before taking the necessary steps will take a load off your shoulders and provide confidence in your decisions. Step 1: Inform yourself Fixed rates, variable rates, deposit and repayment plans, amortization—It’s ...

Why are People Complaining About the Toronto Market

Why people are complaining about the Toronto and Greater Toronto market?    Homes in Markham, Vaughan, and Toronto are selling and in some cases we are generating multiple offers. The reason why some homes are sitting on the market is because they are either in poor condition, in a less then desirable location or most importantly for this market, not priced right.   I ...

HOW TO CHOOSE THE RIGHT LIGHTS FOR YOUR KITCHEN

The kitchen is an area in a home that is used A LOT. We all know that if the kitchen is conducive, the party will end up there all night! Lights can keep the mood up or down, they can make you feel invited or unwanted. In a kitchen, there are so many options even as to where to put the lights; let alone the type and style of light. In a kitchen there can be under cabinet lighting, top of the cabinet ...

Canada Not in Danger of US-Style Housing Bust

The CD Howe Institute recently released a study written by Professor Jim MacGee (University of Western Ontario), which poses the question of whether or not the Canadian housing market could experience a US-style bust,  including a steep drop-off in the average selling price.   MacGee argues that mortgage underwriting standards evolved much differently in the US and Canada leading up ...

Interest Rates

Predictions Ring True! Third Consecutive Interest Rate Hike. With the increase to 1 percent for the overnight rate, the Bank Rate is correspondingly 1.25 percent, and the deposit rate is .75 percent. Financial conditions in Canada have tightened modestly since April, with the changing monetary policy measures, but overall still remains highly stimulative from a global perspective.  This increase ...

How HST will Affect Homeowners

As you probably know, the Harmonized Sales Tax (HST) is coming into effect on July 1st of this year.   The Ontario Real Estate Association (OREA) strongly opposed the implementation of the combined 5% GST and 8% PST, but there is no reason to be scared out of buying a home in the near future. Understanding how the HST will affect you as a homebuyer will help you decide whether buying a ...

Post Earth Hour Energy Savings

This first Saturday of April you may have participated with millions of other Canadians in Earth Hour and sat in the dark from 8:30 to 9:30 to do your part in helping the Earth by saving energy. Each year more and more people worldwide participate in this enlightening event sponsored by the World Wildlife Federation. Earth Hour does a lot to raise awareness about climate change and aims to help each ...

Spring in to House Hunting

The real estate market is always buzzing in the spring time, but there is some extra buzz this spring and if you’re thinking of buying a home this season then you may want to get an early start. Here’s why: The  Harmonized Sales Tax (HST) comes into effect July, 1 2010  and the rate of many goods and services will be raised by eight percent. This includes the commissions, ...

Is it Time to Downsize Your Empty Nest?

Is this the fall that your home becomes an empty nest? Every September as students head off to college and university, parents are left behind. Once the youngest child leaves they are left in what has come to be known as the  empty nest. Some parents mourn and some celebrate their time alone and with each other. However you feel about it, moving to a smaller home may be a good option to consider. ...

Selling Your Home this Fall

It’s hard to believe that the summer is coming to an end for yet another year and autumn is already dropping hints of its arrival everywhere we look. The tips of leaves are starting to change colour and kids are  back at school. This time of year is typically a bit slower for house sales as families are closing up their cottages, storing the camping gear and settling in for a busy few months, ...

The Right Fit: Finding an Agent to Suit your Needs

Century 21 agents are at the top of the game when it comes to finding you a new home.  Many different agents work under the Century 21 name, however, are all unique, and bring a wide variety of personalities to the table. Here are some tips to help you choose the right agent to suit your needs. Make sure you can clearly communicate your needs and expectations with your agent. Open lines of communication ...

THE TIME TO BUY IS NOW!!

    1) Housing starts are expected to rise While the seasonally adjusted annual rate of housing starts decreased to 132,000 units in July from 137,000 units in June, Canada Mortgage and Housing Corp. says starts statistics – which mark the actual, shovel-in-the-ground beginning of construction – are expected to improve throughout 2009.The reason?“Over the next several ...

GTA REALTORS® report resale record in July

In July 2009, Greater Toronto REALTORS® reported a record 9,967 sales, up 28 per cent from July 2008. The average price for July transactions was $395,414 – up by six per cent compared to the same month last year. “Households confident in their positioning within the current economic environment have taken advantage of housing affordability in the GTA,” said ...

Value of a Comparative Market Analysis

There are many things to consider when you decide to sell your home, but the most important factor bar none is the listing price. Making sure you list your house at market value will play the biggest role in selling your house quickly and at a desirable price.  Asking your realtor to prepare a comparative market analysis (CMA) is a great way to figure out the right price tag for your home. There ...

Spring is Here

With the Canadian real estate market recently entering a thawing stage, and the onslaught of the beautiful weather, why not spend a few weekends sprucing up your home and property before listing? Not everyone can afford sometimes-expensive home staging services, but a few coats of paint, finally fixing those squeaky doors and wobbly railings, or hanging some fresh drapes could mean the difference ...

Benefits of Web 2.0 for Home Buyers

Making the decision to buy a home is exciting and empowering, but can be a little overwhelming when you’re just starting out. Of course you want to find the perfect home in a great neighbourhood, not too far from work and good schools for your kids.  Now, the hunt for this ideal home has been made less time consuming and more fun than ever before. The emergence of Web 2.0 applications on ...

Attracting Young Home Buyers

The current housing market has opened up an array of exciting opportunities for young and first time home buyers. House prices have dropped in several areas and interest rates are lower than ever. The government has also introduced the First-Time Home Buyers’ Tax Credit and raised the maximum RRSP withdrawal for first home purchases up $5,000 to $25,000. Young professionals in their twenties ...