Monthly Archives: December 2015

Month: December 2015 Merry Christmas And A Happy New Year 2016

  To all our “Central Toronto Real Estate Blog” blog readers, we wish you a Merry Christmas And A Happy New Year 2016. Please continue reading our blog articles in 2016 and please share our blog articles with your friends, families and co-workers. Please share your comments and with us and please give us your feedback.     Please call or text us at 647-294-1177 or send us an email if you need more information about “housing market” in Central Toronto communities and Toronto communities. Again, with warm greetings and best wishes throughout year 2016.   Max Seal, Broker Team “Central Toronto

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Month: December 2015 Buying and Selling a Home During the Holidays

  Selling During the Holidays: Pros and Cons For the most part, real estate agents recommend against selling your home during the holidays, and for one very good reason – demand is low. People are often traveling or spending time with loved ones, and not thinking about moving. Selling during the holidays can also be a big inconvenience from a showing standpoint. As we know from staging experience, buyers prefer homes that are tidy and neutral. That means your usual holiday decorations will have to stay in their boxes, and you should avoid having visitors stay in your guest rooms.

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Month: December 2015 Buying a home – Buyer’s guide

  1. Start with your credit.  Credit reports are kept by the three major credit agencies, Experian, Equifax, and TransUnion. They show whether you are habitually late with payments and whether you have run into serious credit problems in the past. A credit score is a number calculated from a formula created by Fair Isaac based on the information in your credit report. You have three different credit scores, one for each of your credit reports. A low credit score may hurt your chances for getting the best interest rate, or getting financing at all. So get a copy of

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Month: December 2015 How a U.S. rate hike is good for Ontario

  It’s been a battle of another sort as the U.S. Federal Reserve seems set finally – after crying wolf for more than a year – to raise its key interest rate by a quarter of a point. It would be the first increase in almost a decade. Interest rates have been at or near zero since 2006. The Fed pushed them down to stave off a financial collapse. It did the trick, encouraging consumers to borrow and spend. It brought U.S. housing back from the brink, has pumped up stock prices and created $2.5 trillion out of thin air,

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Month: December 2015 Ontario farm converts from pigs to shrimp in hopes of jumbo profits

  In rural Ontario, 800 kilometres from the nearest ocean, you will find the unexpected — a  successful inland shrimp farm. With pork prices low, Paul and Tracy Cocchio were struggling to make a profit with their hog farm in Campbellford, Ont., so they started looking for alternative uses for their empty barns. While searching the internet they stumbled upon farmers in the U.S. who had switched to inland shrimp farming. They decided to give it a shot themselves. Shrimp is the most consumed seafood in North America and the majority of the shrimp eaten on the continent comes from Asia. But the industry

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Month: December 2015 Canadian Finance Minister tightens mortgage rules on homes over $500K

  The federal government is boosting the minimum down payment for higher-priced homes in Canada effective in the new year 2016. Homebuyers are currently required to put down a minimum of five per cent to qualify for Canada Mortgage and Housing Corporation insurance — protection that lenders insist on when providing a mortgage worth more than 80 per cent of the home’s value. Regulator moves to raise capital requirements for mortgage lenders Neil Macdonald: High cost of low-interest rate war on savers Are young homeowners doomed if housing prices drop? Starting in February, 2016, CMHC will require a 10 per cent down payment on the portion

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Month: December 2015 We need to save Canadian taxpayers from tax scams

    Canadians are receiving a deluge of calls from fake Canada Revenue Agency collectors, warning that police would show up to arrest then after an audit showed they had a whopping tax bill to pay. The scam, which has circulated since January 2014, involves not just fraud but harassment. “You feel very threatened and frightful. The callers don’t give you time to think,” says Jeffrey Thomson, a spokesman for the Canadian Anti-Fraud Centre. The non-profit centre, a clearinghouse for fraud intelligence, says the callers are extremely aggressive in a way that does not represent Canada or the way that

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Month: December 2015 Canadian dollar slumps, and Stephen Poloz talks negative rates

  Canada’s plunging currency was a hot topic this week, as the loonie set a new 11-year low seemingly every single day since Monday. The reasons why Canadian dollar loosing are complex, but they’re very closely tied to the slumping price of oil, which can’t seem to find a bottom. OPEC is pumping more, the IEA says there’s less demand for all that extra crude, and nobody seems to know where or when oil will hit its floor. That’s dragging the loonie down, pulling it below 73 cents on Friday to its lowest level since May of 2004, when Paul Martin was

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Month: December 2015 How negative interest rates could have a positive economic impact

Normally when you put money in a savings account with a bank, you earn money on that deposit. If you were to deposit $100 at a 0.5 per cent interest rate, for example, you would have $100.50 at the end of the year. A negative interest rate would work the other way — if you were to deposit $100 with a negative 0.5 per cent interest rate, you end up with $99.50 in your account in a year’s time. The concept of paying to have someone look after your savings may be strange, but that’s what many are pondering after

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Month: December 2015 CMHC finds foreign ownership of Toronto Condos low but growing

  Canada Mortgage and Housing Corporation has crunched the 2015 numbers on foreign ownership of condos in Canadian cities and again concluded that it is low but growing. In Vancouver, about 3.5 per cent of condominiums were owned by foreign buyers in 2015, up from 2.3 per cent a year earlier. The percentage jumped in the Burrard Peninsula, Vancouver Westside and Eastside to 5.4 per cent. In central Toronto, foreign ownership of condos was 5.8 per cent, versus 4.3 per cent a year earlier, while in greater Toronto it was 3.3 per cent, up from 2.4 per cent.   Condo

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