One of the main questions people involved in real estate transactions have is "What are Closing Costs?" And they are quite surprised to see how much of an impact it can have  And they are quite surprised to see how much of an impact these costs can have at the time of closing. Closing costs are the list of charges that buyers need to pay to complete a real estate transaction. Closing costs are additional costs over and above the price of a home, you should budget at... [read more]

With the current impact of the COVID virus there is understandable concern across the country f how the real estate market will be impacted. Different cities have experienced unique fluctuations with this being such a diverse industry. Toronto, Montreal, Ottawa, London, Edmonton and Vancouver were all covered in our REC Brunch yesterday. Here is a recap of how the pandemic has impacted each market.  We still remain in a seller’s market in Toronto with at least 2 months of... [read more]

The Coronavirus crisis has left many homeowners in Canada without a job or with reduced hours and wondering  how to pay their mortgage. Homeowners facing financial stress may be eligible for a mortgage payment  deferral up to 6 months to help ease the financial burden. The COVID-19 Mortgage Payment Deferral program will be ongoing. You can apply at any time during this  outbreak. What is mortgage payment deferral? Mortgage payment deferrals can help you during times of... [read more]

So many property owners are concerned about the current status of mortgage rates and rules during  COVID-19. It appears that so much is influx during this time, but this is not really the case. The Toronto  real estate industry is not really impacted financially by the pandemic.    All banks have reduced their interest rates tremendously since the beginning of isolation. People all  across the Greater Toronto Area were looking to refinance their mortgages, to the... [read more]

First impressions are lasting impressions and you only get one chance to make a lasting impression. That first impression makes an impact on a number of levels, especially at an emotional level. It’s not just the way your house looks to potential buyers, it's also how it feels and smells to them,  how their friends and family will react, and most importantly how they imagine it would be to live  there. Simple improvements throughout your house, can grab the... [read more]

Last week we held our first REC Brunch, where Real Estate Centre co-owners Jas Takhar and  Simeon Papailias discuss the current state of the market. Many are concerned over COVID-19 and how  this will influence their investments. Here's a recap of what was discussed in our event. Now is a very important time to be proactive. Stay up to date on the news to diminish any concerns  you may have. Getting educated is the key to feeling secure. Values in real estate did not... [read more]

As of Friday, the provincial government has decreed that construction will be halted for all of Ontario. What was considered an essential service is no longer deemed so in order to prevent the spread of COVID-19. This has left many investors concerned at the state of upcoming residential projects and the future of the real estate market. Residential projects that are about to begin or are far in development will be put on hold until  the concerns of the pandemic have subsided.... [read more]

COVID-19 continues to have a negative influence on the livelihood of workers of essentially every industry. People all over the planet are growing more concerned about how they’re going to pay off their rents. Property owners are becoming concerned as well, due to the policies possibly impacting their financial wellbeing. As of writing this article, 44% of Toronto residents are either without work or suffering from diminished hours. Many businesses are also suffering a depleted income... [read more]