By: Andrea Blum Team

Do not add your children on your title. US EDITION

Tags: buyers, home, seller, real estare, toronto, Refinancing, Mortgage , Rent, Financials, Blog. prices, CMHC, US, home title

It is very common for parents to put their children’s names on their bank accounts, deeds, and other property so that the children can assist their parents with paying bills or managing their finances. But is that a good idea? The short answer is simple –No.   Here is why—when you place your child on your deed or account you are legally giving them partial ownership o...Read More

By: Andrea Blum Team

Understanding Mortgage Default Insurance (CMHC Insurance)

Tags: buyers, home, seller, real estare, toronto, Refinancing, Mortgage , Rent, Financials, Blog. prices, CMHC, mortgage deferal

Mortgage default insurance, (CMHC insurance), is mandatory in Canada for down payments between 5% (the minimum in Canada) and 19.99%. Mortgage default insurance protects lenders, in the event a borrower ever stopped making payments and defaulted on their mortgage loan. Although this insurance will end up costing the homebuyers between 2.80%  to 4.00% of their mortgage amount, it do...Read More

By: Andrea Blum Team

NEWS:

Tags: buyers, home, seller, real estare, toronto, Refinancing, Mortgage , Rent, Financials, Blog. prices, CMHC, mortgage deferral

Higher credit scores, lower debt ratios and no borrowed down payments for insured mortgage Canada's national housing agency is tightening its requirements for getting an insured mortgage starting next month. The move would make it harder for riskier borrowers, who offer downpayments of less than 20 per cent to access CMHC's default mortgage insurance.  CMHC is establishing a minimum ...Read More

By: Andrea Blum Team

Market timing

Tags: buyers, home, seller, real estare, toronto, Refinancing, Mortgage , Rent, Financials, Blog. prices, CMHC, mortgage deferral, market timing

Market timing is the strategy of making buying or selling decisions of financial assets (often stocks) by attempting to predict future market price movements. The prediction may be based on an outlook of market or economic conditions resulting from technical or fundamental analysis. Keep in mind Market timing is the opposite of buy-and-hold, a passive strategy in which investors buy and hold for ...Read More

By: Andrea Blum Team

Appreciation market

Tags: buyers, home, seller, real estare, toronto, Refinancing, Mortgage , Rent, Financials, Blog. prices, CMHC, mortgage deferral, condo

Minimal to zero positive cash flow on your investment property. That is the most predominant market in Toronto today. If you’re paying more then 16x Gross annual rent on your investment, then you’re banking on the appreciation market. In other words you're hoping that your property will increase in value over time and you will make your profit at the time of sale. If the prices of...Read More

By: Andrea Blum Team

You may want to consider a condo

Tags: buyers, home, seller, real estare, toronto, Refinancing, Mortgage , Rent, Financials, Blog. prices, CMHC, mortgage deferral, condo

You don't want to worry about maintenance, cutting the grass, shovelling the snow, the roof, the furnace, the windows. You may want to consider a condo. In Toronto, prices are starting from $700-$1500 per square foot. Maintenance goes from $.60-$.75 per square foot. Prices change depending on size, square footage, number of bedrooms or bathrooms, parking, locker, level, transit, closer or not...Read More

By: Andrea Blum Team

It's not always necessarily a good time or bad time to sell or buy real estate

Tags: buyers, home, seller, real estare, toronto, Refinancing, Mortgage , Rent, Financials, Blog. prices, CMHC, mortgage deferral

It's not always necessarily a good time or bad time to sell or buy real estate, it really depends on your specific situation. The key is understanding your situation and how the market affects you and your circumstances. It should be noted that prices differ from one area to another as well as depending on the product. The freehold market may be affected differently than condos and town houses...Read More

By: Andrea Blum Team

Deferring your mortgage

Tags: buyers, home, seller, real estare, toronto, Refinancing, Mortgage , Rent, Financials, Blog. prices, CMHC, mortgage deferal

Deferring your mortgage = Short-term relief for long-term pain. Mortgage deferral it's not mortgage forgiveness. The money you don't pay now you owe later with interest. That means your debt becomes heavier over time. CMHC have started rejecting refinancing application from homeowners who have deferred their mortgages. Your deferral may also show up in your credit score as missed or late ...Read More

By: Andrea Blum Team

House prices in Canada falling between 9% to 18% over the next 12 months?

Tags: buyers, home, seller, real estare, toronto, Refinancing, Mortgage , Rent, Financials, Blog. prices, CMHC

Evan Siddall, head of the CMHC (The Canadian Mortgage and Housing Corporation), said that  Canadian homeowners are facing “Debt Cliff” this coming September. Three quarters of a million Canadians have deferred their mortgage and up to 20% of all Canadians will defer their mortgage by the end of September. Household debt which is already at 100% will jump to 130% and household deb...Read More

By: Andrea Blum Team

Buying versus renting

Tags: buyers, home, seller, real estare, toronto, Refinancing, Mortgage , Rent, Financials, Blog

They’re both expenses and they are both coming with different opportunities depending on the market, your life style and your personality. From a market perspective, If the rents are high enough and potentially can pay the mortgage of 20 or 30 years, it makes sense to buy. If the rents are not high enough to cover a 20-30 years mortgage, then it makes sense to rent. However it ends up bein...Read More