Tyler Tim Realtor

With sales prices declining for the month of June, lots of people may be wondering if the decline is going to increase or not. “ The average price of a re-sale home was down in the first part of June to $808,847 — about $57,000 less than May’s average, according to mid-month figures from the  Toronto Real Estate Board  (TREB)”.   The area that saw the biggest decline were the 905-area and with detached homes. June is typically slow on sales and this was decline was expected by many of us. However, with the market being the way it is right now, one thing that is certain is that sellers are serious about selling their homes, and are not just listing to get involved in the heated frenzy that existed in the previous months. “What we’re going to see is people who are serious and want to sell their house, they’re going to stay on the market and they’re still going to make more money than they would have last year.” This gives the advantage to buyers who are now de...

When looking at vacancy and rental rates against wage and employment growth, the best places to invest in Ontario are noted as the following. Milton is experiencing huge growth in terms of population and the economy. Its near major highways making it attractive to commuters and has affordable housing. With continuous improvements on transportation services, Milton will continue to be an attractive place for investors. Next up on the list is Guelph. Guelph is seeing growth in all sectors and continues to be a place that offers affordable housing. "With Guelph's record unemployment rate and recent growth, our vacancy rate is one of the lowest in the country, making this city an attractive place to invest”. Brampton should be obvious in terms of growth regarding housing prices. Not only is it experiencing growth in terms of housing prices, but it is seeing growth in all sectors including employment and population. Furthermore, the building of the campus (between ...

Buying your first home can be exciting, and it should be, as long as you take the necessary precautions and protect yourself against a possible bad investment. If you’re thinking about buying a home for the first time, take the following into consideration. Make sure you get the right real estate agent working for you! You want to make sure your real estate agent is truly working for you. Some things to look out for are if they are experienced, and if you are generally comfortable with them. After all, this is one of the biggest financial decisions you will ever make in your life so make sure you know your agent is working for you. Secondly, while renting might not be your long-term goal, it might be wise to hold off buying a home until you know you’re financially ready. There is no such thing as a rainy day when owning a home. Instead, you get several of them, so make sure you have an emergency fund set aside for those days. Try to clean up your DTI (debt-to-income ratio) ...

Ever wondered what’s worth spending your money and what’s not when you want to increase the value of your home? Well keep reading for some tips on how to properly update your home so you can see that bottom line getting bigger. One of the biggest tips I can give you is to keep the home as neutral as possible when renovating so that potential buyers can actually imagine themselves living there. Try to appeal to as many people as possible, and avoid customizations that would you think won’t appeal to the masses. After all, “you’re selling a lifestyle when you’re selling a home so you definitely want to think about the demographic, but you want to be broad about that demographic as well.” One way to do this is to look for obvious appeals. For instance, a recent survey done in the U.S. found that “68 percent believe having a fireplace in a home increases its value”. Although that doesn’t necessarily mean you have to go out and buy a new fireplace, especially considering the costs of ins...

Although it may seem a little too familiar, the crash of Home Capital Inc. does not indicate that Canada is headed into the same path we saw our U.S. neighbours take in 2008 and 2009. Although there are some similarities that can be drawn, for instance the level of debt we are seeing and home prices skyrocketing, at the same time, “when you understand what really led to the severity of the financial stress in the U.S., it was related to a number of factors that are not present in Canada”. “ Home Capital could never be Canada’s  Leman Moment” simply because the circumstances are entirely different. During a time where American lenders would hand out loans to anybody that could read or walk, and the financial engineering that took place in Wall Street, it was no wonder the U.S. took such a big hit. Meanwhile in Canada, the requirements are less lax, and Canadians have to go through a more rigorous process to prove they can afford a home. Another important differentiatio...