The picture was taken during a home inspection with my clients at the North York detached house that they bought. Our offer won among the 7 offers that the sellers got during offer presentation night. All along I thought the bidding wars are over! 😆 Just a realization that good homes priced well are still getting bids especially single family homes with good size lots and close to transit. There are less and less single family homes being built and most of the new builds are condos.

Do you want to know how I and a few other realtors I know protect clients from over-bidding? We have access to real-time Automated Valuation Models (AVM) tool that can give us a range of the estimated value/price and the real-time value/price of the house. This tool comes in handy because during mortgage approval, banks will also use a similar program to this to appraise the house. Knowing the estimated value of the house lowers or diminishes my client's risk of not getting approved for a mortgage or the bank asking for more downpayment because they overpaid for the house.

By the way, would you like to know the value of your house? Send me an email or book here to get your free and no-obligation consultation.

https://calendly.com/fredcamingal/new-meeting

REAL ESTATE TALK:

Feds New Program Will Allow Homeowners To Refinance Up To 1.8 Million CAD to add rental units. 🇨🇦

The Federal Government of Canada has introduced a new mortgage refinancing program aimed at helping homeowners create secondary suites, such as basement apartments or garden suites, to ease the housing shortage. This initiative allows Canadians to refinance up to 90% of their home's value, with a maximum limit of $2 million. Homeowners can use these funds to build or improve rental units, making it easier for them to generate extra income while increasing the availability of affordable rental housing in their communities.

By tapping into the equity in their homes, Canadians now have an opportunity to contribute to addressing the housing crunch, all while improving their properties. The government hopes this program will encourage more homeowners to create rental spaces, ultimately providing more housing options for renters and helping alleviate the growing demand for affordable living spaces across the country.

FEATURED PROPERTY:

Click Here To Find More info about this property!

LOWEST MORTGAGE RATES:

VARIABLE: 5 YR HIGH RATIO P‐1.15%

5 YR CONVENTIONAL P‐0.70%

FIXED 1 YR: 5.74%

FIXED 2 YRS: 5.44%

FIXED 3 YRS: 4.29%

FIXED 4 YRS: 4.49%

FIXED 5 YRS: 4.14% (High Ratio)

FIXED 5 YRS: 4.39% (Conventional)

Call me at 416-670-8598 if you're looking for a debt consolidation loan to pay off your high interest credit card debt! Call us if your bank says no, we will do our best to help you.

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