September 2021 RSS Feed

Home sales slowed as prices continued to rise in the Toronto area last month.

According to the latest TRREB report, 8,596 homes were sold in August, a 19.9% drop from 10,738 at the same time last year and an 8% fall from 9,368 in July.

New listings in the region fell to 10,609, down 43% from 18,599 last August and 15% from 12,551 in July.

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However, Toronto home prices continued to climb, up 12.6% compared year-over-year to an average $1,070,911 for all home types.

“It is clear that the supply of homes is not keeping pace with demand, and this situation will become worse once immigration into Canada resumes,” said TRREB president Kevin Crigger.

The only exception to the slow sales last month was…

A home showing happens when you list your home for sale and potential buyers want to view it. As a seller, you might wonder what happens at a home showing.

To give you an idea of what you can expect, here are frequently asked questions and answers about home showings.

Who shows your home?

During a home showing, potential buyers are always accompanied by their real estate agent. Buyers are not allowed to show up at your house unannounced. All showings are booked and approved by your real estate agent before they see your home.

How will I be notified of a showing?

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Once a showing has been booked, you will receive a notification in the manner you prefer so you can keep…

There are many things to consider when you are looking for a new home. While the physical home may be the first thing that grabs your attention, you’ll want to make sure that the area around it is perfect for you as well.

Here are some liveability factors to look for when finding your next home:

Location

When you are searching for a home, be sure to take into consideration the location of the property. Factors such as how busy the street is, what the noise levels are like and the future of the neighbourhood are especially important. Try to keep your emotions in check and don't overlook the surrounding area when house hunting.

RELATED: How To Buy In A Seller’s Market

Lifestyle

What type of lifestyle do you picture…

A mortgage preapproval is an important part of the home buying process. If you are pre-approved, it means that you qualify for a mortgage loan based on the information you have provided. Here is a breakdown of how to get pre-approved for a mortgage.

What is the mortgage preapproval process?

The mortgage preapproval process may be divided in various steps. Different lenders have different definitions and criteria for each step they offer. It is important to shop around, so you can compare options offered by different lenders.

During this process, the lender will look at your finances to determine the maximum amount they may lend you and at what interest rate. They will ask for your personal information, various documents and will likely…