Markham Homes for Sale : Markham Condos Real Estate : Investment Pre-Construction Condos

Week 7 - Toronto Real Estate Market News Update

Wed, 22 Feb 2012 19:55:00 -0800

Toronto Real Estate Market Update VIDEO
WATCH VIDEO - CLICK HERE

1. Toronto Real Estate Market Stats from Feb 1st, to Feb 14, 2012
a. Average Price, Days on the Market, New Listings, Number of Sales

2. We're in a SELLER's Market
a. Multiple Offer Scenarios are quite common

3. National Home Show Tickets - get tickets before March 1st.

4. Mortgage Update

5. Tridel's TEN YORK PRE-Construction SALE
a. 75 Storey b. Occupancy 2017

6. Tip to SELL - Price with an objective to get the most number of buyers walking through your house! Overpriced listings help sell competing listings and will often sell for less.

Buy, Sell, Invest with Team Jagpal. Your source for Toronto Real Estate.

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KEYWEST Condos - Skyline Suites at Toronto Waterfront - 1 DAY VIP SPECIAL

Wed, 22 Feb 2012 11:40:00 -0800

Triple "A" Real Estate at the Waterfront

The glittering panoramic views of the lake and the city are nothing short of breathtaking. Just steps from Lake Shore Blvd and the Martin Goodman Trail. It’s a lakeside community with extensive facilities, transportation links and its own entertainment infrastructure.

Our VIP Clients get:

10% DOWN year 1* and 2% CASH BACK

*10% down year 1: $5,000 with offer, balance of 5% in 30 days, 5% in 90 days, 2.5% in 370 days, 2.5% in 450 days, 5% on occupancy, 2% cash back.

REGISTER NOW at jasjagpal@gmail.com with your contact information.

THIS IS A 1 Day SPECIAL EVENT COMING SOON!

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Stunning Marilyn Munroe Absoluteworld condo- 3 Bedroom Condo For Sale!

Tue, 14 Feb 2012 04:18:00 -0800

See the full gallery on Posterous

There are not to many 3BR units to brag about owning, especially in the one of kind Absolute world condo in Mississauga downtown.

With curving balconies, state of the art amenties and stainless steel appliances this is a unit only a few will be able to get a hold of and quite frankly afford.

If you got the cash and want to live in a landmark condo, give Jas Jagpal a call and buy this never lived in unit today. Interest buyers contact me for more details.

Contact Jas Jagpal, To Buy, Sell, Invest, Assign or resell your Condo.

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Week 5: Toronto Real Estate Market Update - Jan 2012 Statistics

Tue, 14 Feb 2012 03:13:00 -0800

Click for VIDEO: Toronto Real Estate Market Update

Jas Jagpal discussses in this video:

1. Toronto Sales Numbers in January 2012 vs 2011
2. New Listings in Toronto
3. Average Price in Toronto in 2012
4. Average Days on the Market in Toronto
5. CMHC reacing its $600 Billion Dollar Limit
6. Why banks are getting low ratio mortgages insured by CMHC?
7. How these Mortgage changes will affect First-Time Buyers

Contact Jas Jagpal, To Buy, Sell, Invest, Assign or resell your house or condo.

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Week 6- Toronto Real Estate Weekly Market Update 2012

Mon, 13 Feb 2012 03:50:00 -0800

Toronto Markham Real Estate Market Update

WATCH VIDEO Week 6 Toronto Real Estate Market Update: CLICK HERE

In this Week 6 - Toronto Weekly Real Estate Market Update Jas discusses:

1. Mortgage changes by TD and RBC

2. Jas's take on what we're expecting in the Toronto Mortgage Market and how it is going to affect consumers

3. 2011 The New Condo Sales breaking previous Greater Toronto record of 2007!

4. New Condo assignments on sale at Ventus and The Absolute Condos

5. Why you should choose to hire a VIP Broker to represent you when buying a pre-construction condo and not going to the Sales Center Yourself

6. New Townhomes in Markham For Sale - MountJoy

7. As always if you have questions contact Jas and he's always looking to help Buyers, Investors and Sellers Sell their homes and condos in the GTA.

Contact Jas Jagpal, To Buy, Sell, Invest, Assign or resell your Condo.

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New Markham TownHomes For Sale! Mount Joy FREEHOLDS

Sat, 11 Feb 2012 12:37:00 -0800

See the full gallery on Posterous

Only 17 Townhomes left at "The Towns of Mount Joy" at pre-construction prices.

Park/ Wood Lots

"The Revelry" model 1860 Sq Ft and the 1888 Sq Ft "The Wonder" model.

Closings approximately Jan - June 2013.

Bonus

• Stainless Steel Kitchen Appliances
• Washer , Dryer
• Roger's VIP Package: 1 Year Free High Speed Internet & Digital TV
• Hardwood Floors in Great Room
• Oak Stairs
• Automatic Garage Door Opener

Minutes from Mount Joy Go Station at Markham Rd and Bur Oak.

Priced from $439,900 to $459,900

Call Jas Jagpal, BROKER - 647.272.6629 to make your appointment and buy your unit.

To Buy, Sell, Invest, Assign or resell your Condo.. give Team Jagpal a call.

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How Will CMHC Announcement Affect Buyers & Sellers?

Sat, 04 Feb 2012 13:54:00 -0800

Toronto Real Estate CMHC NEWS

WATCH VIDEO

You should be concerned or not? Most Buyers have no reason to be after CMHC announcement.

CMHC will begin (if they already haven't) to tighten it's loan insurance approvals for perspective home buyers.

They are already nearing $550 Billion dollars of loans insured and who knows how fast they will reach their $600 Billion limit set by the Government and insured by Tax payers.

How will it affect you? Well, first time buyers, self-employed and those with less than 20% should be especially concerned if they were thinking of buying a home in the near future.

Banks should be taking some of the blame for even insuring loans where Buyers put down more than 20%. This is an "accounting move" and banks "positioning" themselves to save their ass if anything happens in the market because the "tax payers" are liable to pay for it.

So if you were thinking of buying... you might have to come up with more soon 10% instead of 5% or be able to pay higher monthly premiums if amortization rules change to 25 years.

So make sure you pull your "credit scores", talk to your lender to see what you are approved for, have reasonable savings and you might want to consider buying now at these record low- interest rates.

These rules will impact SELLERS too and will tend to cool the market down and put downward pressure on pricing. So Sell Today with my 30-60 Day Sold Guarantee!

Jas Jagpal, Broker
RE/MAX Dynasty Realty Inc

To Buy, Sell, Assign, Invest give Team Jagpal a call.

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Is the Toronto Condo Market Really in a Bubble?

Wed, 01 Feb 2012 14:00:00 -0800

As the publishers of magazines and newspapers sell their "advertising" on the doom and gloom news of the world which readers "feed" on with a frenzy! The question above lingers in many would be buyers who are influenced by the media and the advice of family and friends.

Living in the trenches, hearing, talking and breathing real estate in the Toronto market every day- I do not buy the same "sensational" news of mass media. I'm sure prices will fall in some areas of Canada. But we all know Real Estate is very localized and dependant on local market influences.

You see, the Condo Market adheres to the same Supply & Demand concept that all markets do. People ask me Are We Building To Many Condos?

You would think so by viewing all the cranes hovering in the skyline throughout Toronto. The facts show differently and the builders wouldn't be announcing newer and bigger projects if they felt supply was to much as it would only hurt future projects.

The facts are that we get about 100,000 annual new migrants to the GTA area. To house them I'd suspect we need around 25,000 - 40,000 + new homes.

We also have parents buying condos for their children who work downtown or to study. Some of them also have long term plans to downsize into one. Myself included.

Finally condos are the most affordable choice for first-time buyers. Sure they are getting smaller but that is appealing to the new business class, young professionals and to those who travel often. They are out and about all the time... plus it's a big plus for them to lock the door and not have to worry about your home.

We also have to remember that condos bought in 2012 won't be ready until 2015, 2016 or later. The supply isn't immediate. Plus builders need to sell a certain percentage 75% or so to get "construction financing" and usually it takes 5-7 years for the entire process.

So will 2012 be a bust or another great year like 2011? I know for fact it will be an absolutely fantastic year for Buyers & Investors. If you don't buy... believe me there are another five people ready to do just that. Especially condos that are on the public transportation line and with today's record low interest rates.

Jas Jagpal, Broker
RE/MAX Dynasty Realty Inc

To Buy, Sell, Invest, Assign or resell your Condo.. give Team Jagpal a call.

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Toronto Real Estate Market Update - Week 4, 2012

Tue, 31 Jan 2012 07:36:00 -0800

WATCH VIDEO: CLICK HERE

Quite simply we are having a fantastic start to 2012 Toronto Real Estate Market.

Yes The Toronto Real Estate Market is hot and we are not in a bubble as some have been predicting. Even the major banks have come out saying that today!

As a Seller: It is a fantastic time to sell. Don't wait until the spring market when you will be in more competition. Especially the average looking homes.

As a Buyer: you are not as fortunate in regards to selection. There are still deals to be had though but the market is really tight especially with homes under $600K price range.

The best part is that you can get 5 year mortgage for less than 3% and 10 years at 4%. You can lock in for 10 years with piece of mind!

Team Jagpal: Sellers, we want to earn your listings and will give you $1000 if we don't sell your home within 60 days! No questions asked. That is how confident I am with Team Jagpal's marketing plan. Call us and get us working for you!

Jas Jagpal, Broker
Remax Dynasty Realty Inc. Brokerage.

FREE SELLER CONSULTATION & CMA - Click Here
RE/MAX Dynasty Realty Inc. 8 Shadlock St. Markham O: 905-471-0002
Houses: www.TeamJagpal.com Condos: TorontoCondoRealEstate.ca
© 2012 Jas Jagpal, BROKER, BSc. York University

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How to do Effective Open Houses in Toronto Real Estate Market?

Sun, 29 Jan 2012 08:31:00 -0800

WATCH VIDEO

How Effective are Open Houses to help Sellers sell their home in the Toronto Real Estate Market?

This is debated amongst Realtors. Some say open houses are a waste of time and they hate doing them while others say they are very effective in exposing the home to potential buyers. Both sides are correct. Open houses are only effective if you hire a Realtor that has a effective MARKETING strategy. Otherwise, as a Seller, you might as well not inconvenience yourself and waste the Realtor's time. If you want your Realtor to do Open Houses, make sure they have an effective Marketing strategy for your house! Find out before you hire them.

If you are a Realtor reading this. Remember our job is not "sales" but to be highly effective "Marketers"! Don't take a LISTING if you don't think "you" can market it to SELL. You are wasting your precious time and money.

Watch the Video to see how you can do an effective Open House in Toronto!

Get excited to help your clients out. I know I am! Remember our job is to get the most number of "qualified eyes" to come see the property. And yes, the honest truth is that most open houses don't sell the home, however, because some do, it is our job to make sure when we do them, we follow an action plan and have the mindset that gets us ready to SELL the home!

We attract into our life, what we give. So greet those who come with big smile and let them know you are thankful they came... and I promise you- not only will you feel better and upbeat, but you will attract a Buyer and get your Listing SOLD!

Jas Jagpal, Broker
Remax Dynasty Realty Inc. Brokerage.

FREE SELLER CONSULTATION & CMA - Click Here

RE/MAX Dynasty Realty Inc. 8 Shadlock St. Markham O: 905-471-0002
Houses: www.TeamJagpal.com Condos: TorontoCondoRealEstate.ca
© 2012 Jas Jagpal, BROKER, BSc. York University

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How was 2012 REMAX Toronto Kickstart Event? Well Honestly...!

Wed, 25 Jan 2012 15:43:00 -0800

VIDEO - Click HERE

I spent a couple days at REMAX KICKSTART event at The Convention Centre downtown with thousands of REMAX salespeople and brokers. The event's purpose is to provide REMAX agents with market facts, educational courses and motivation to start the year on a high note! After all, being a REAL ESTATE Salesperson is rated Top 10 most stressful "careers!"

From me, you know, you always get the TRUTH!

Day 1: Monday was a bomb! Giant waste of time. "La Grande" disappointment! Monday were the educational courses.

Social Media, I took was a bust and so was the Mortgage Course having talked to agents during lunch. There should have been a qualifier for these courses that they are for absolute beginners, new agents not for the 90% who aren't.

I think REMAX failed to understand Realtors needs. i.e. concrete steps to help them "market and grow" their business. If there were even 5 action steps I could have taken from the Social Media course it would have been worth 2.5 hours of torture. Thankfully he cut it short 30 minutes.

DAY 2 - Well this is where the EVENT SHINED! Excellent speakers starting with 10 year old child prodigy Ethan Bortnick! Inspirational and talented!

- I had to leave for a deal in the middle of the TD "President-Dude's" excellent market update and came back in the afternoon for the Dr Hank Weisinger who did a fantastic job in helping us understand "emotions" setting up the crazy, lunatic, fired-up,(all in a loving way) Gary Vaynerchuk who hit a smashing line drive, dead centre, home run!

Gary's message?

You gotta be REAL. Be Transparent. Provide Personal Service. Connect in a conversation on Facebook & Twitter and other Social Media and don't hold back to show the "Authentic Self"!

After all, "giving starts the receiving process". I love this: If you are real.. speak the truth... you never have to REMEMBER ANYTHING!

HOW CAN REMAX IMPROVE THIS YEARLY EVENT?

Now I'm going to be REAL and I'm sure some people won't like it.

1. Credit courses should focus on Marketing. After all we are in the business of "marketing" people's homes even though we are called "salesperson".

2. Vet the course material before it is delivered. I'm sure another 20 or so brokers/ salespeople would more than gladly sit in a class to hear the pre-presentation! I volunteer!

3. NO MORE BOXED LUNCHES! I'm sure it is not just an INDIAN THING! But Food is Planned before the party! Because it doesn't matter how great the "party is"... it is remembered by how great the food was!

You know I heard our president, espouse REMAX's brand "QUALITY" and I agree. Highlighting Agent Quality, Training Quality, and not least the Quality of the Venue. Yes the VIPs of real estate.

Well if we are VIP agents, then we should be treated with VIP service. Box lunches, that tastes worse than airplane food, is not food for VIP guests.

I watched about hundred agents from over a thousand sit in the cafeteria eating and there faces said it all. We're eating because we're hungry. I didn't see a smile of: "Thank you REMAX for a fantastic lunch"!

I hope Remax will spare $10 to provide a warm meal or make it non-lunch event. Give us an hour and a half so we can stimulate the local economy besides the parking garage.

I never like ending on a negative note and REMAX didn't disappoint on Day 2. I love to learn that is why I was there and thank god Gary hit a home run otherwise I'd felt as if I was REMAX KICKED! :)

My Vote is in:

Day 1: Remax 1 of 10 - wasted money, time and energy!
Day 2: REMAX: 7 of 10 would have been 9 if Food was good!

What did you think??????

To everyone's success in 2012.

"our thoughts without concrete actions are dreams unfulfilled- jas jagpal"

Jas Jagpal, Broker

FREE SELLER CONSULTATION & CMA - Click Here
RE/MAX Dynasty Realty Inc.  8 Shadlock St. Markham O: 905-471-0002
Houses: www.TeamJagpal.com  Condos: TorontoCondoRealEstate.ca
© 2012 Jas Jagpal, BROKER, BSc. York University

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Week 3- Toronto Real Estate Weekly Market Update 2012

Sun, 22 Jan 2012 17:11:00 -0800

Toronto Real Estate Weekly Market Update

Jan 22, 2012

In this video Jas Jagpal discusses.

1. The booming Toronto Real Estate Market. Jas looks at the average price, new sales and listings in the Toronto Real Estate Market from Jan 1st to Jan 14th.

2. The Mortgage Update.

3. New listing at the CENTRO Condo at 190 Borough Drive, Scarborough with pictures

4. The Move: "The Secret - Law of Attraction". See previous video on my Youtube.com/JasJagpal channel or on this blog for my take on "The Secret". I was surprised to see that most people I've talked to haven't heard about it or watched it. "Knowledge is King. To Change your life, you must change your thoughts" To you success!

If you have any questions, buying, selling or investing just give me a call.

Jas Jagpal, Broker C: 647.272.6629

FREE SELLER CONSULTATION & CMA - Click Here
RE/MAX Dynasty Realty Inc.  8 Shadlock St. Markham O: 905-471-0002
Houses: www.TeamJagpal.com  Condos: TorontoCondoRealEstate.ca
© 2012 Jas Jagpal, BROKER, BSc. York University

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The Secret: Law of Attraction

Sat, 21 Jan 2012 18:49:02 -0800

I know this is a Real Estate Blog but I needed to share this with my readers. After all life is bigger than real estate. We all need to be able to enjoy a better life. Hopefully this will help someone out there.

I'm curious, have your heard of THE SECRET?

I was surprised that my client and the two receptionists I asked at the office hadn’t heard about “The SECRET”.

I had assumed that most people knew after all it was on Oprah, the major networks a few years back.

That got me thinking probably many more haven’t heard of it either, even though I was assuming most knew.

Well if you haven’t… you ought to watch it. HERE is MY INTERPRETATION of MY SECRET!

Let me know what you think. Peace. Jas Jagpal

Watch it at:

Jas Jagpal, Broker C: 647.272.6629

FREE SELLER CONSULTATION & CMA - Click Here
RE/MAX Dynasty Realty Inc.  8 Shadlock St. Markham O: 905-471-0002
Houses: www.TeamJagpal.com  Condos: TorontoCondoRealEstate.ca
© 2012 Jas Jagpal, BROKER, BSc. York University

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Invest near Waterloo University - Student Housing!

Wed, 18 Jan 2012 17:07:00 -0800

See the full gallery on Posterous

NEW VIP PRE-CONSTRUCTION DEVELOPMENT
SAGE CONDO

- Excellent Opportunity to Invest in Student Housing in Waterloo.

- Brand New Condo with 3 and 5 BR units.

- ROI around 15%. with 20% down

- Fully Managed on your behalf.

- FURNISH UNIT packages avaiable for just $5K (Part of VIP Special)

- Near University of Waterloo, Wilfrid Laurier University, Conestoga College

- RENTAL GUARANTEE 3BR: $2200 / month 5BR: $3500 / month

- Builder Manages the units and will provide 1 Yr Free Management. (VIP Incentive)

- Leases are all signed by Guarantors

- Twice monthly inspections

- Full amenities

For more details just give me a call or email if you are seriously looking to invest. This project won't last long as their are only 6 units per floor. 11 floors in total. About 66 units. Especially the 3BR units. This is a hands off investment for those who have money and will let a successful management company take care of everything.

Book you VIP Unit today with Team Jagpal.

FREE SELLER CONSULTATION & CMA - Click Here
RE/MAX Dynasty Realty Inc.  8 Shadlock St. Markham O: 905-471-0002
Houses: www.TeamJagpal.com  Condos: TorontoCondoRealEstate.ca
© 2012 Jas Jagpal, BROKER, BSc. York University

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2012 Toronto Real Estate Market Mid-January Update

Wed, 18 Jan 2012 11:01:00 -0800

Toronto Real Estate Market Update: Jan, 18, 2012

Jas Jagpal discusses the latest real estate market news

- Jan 1-14, 2012 Sales Numbers compared to 2011

- Average price

- New listings

- BMO 5 year, 2.99% or TD 4 year, 2.99% Mortgage which is better?

- How does the amortization period affect your mortgage?

If you have any questions, buying, selling or investing just give me a call.

FREE SELLER CONSULTATION & CMA - Click Here
RE/MAX Dynasty Realty Inc.  8 Shadlock St. Markham O: 905-471-0002
Houses: www.TeamJagpal.com  Condos: TorontoCondoRealEstate.ca
© 2012 Jas Jagpal, BROKER, BSc. York University

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NEW Centro Condo with a VIEW at Scarborough Town Centre! JUST LISTED

Tue, 17 Jan 2012 14:49:00 -0800

See the full gallery on Posterous

Absolutely Stunning NEW CONDO at Scarborough Town Centre won't last Long. Most Popular Layout in building. No Other Listing Like It on the MLS!

- Never Lived In!
- South Tower
- Most Popular 1BR +D Model. (Den can be used as a 2nd Bedroom)
- High Floor - 32nd Floor
- Breath taking Lake View.
- Total 688Sf with Spacious Balcony.

Fantastic Amenities. Indoor Swimming Pool, Gym, Exercise/Recreation Room, Sauna, Guest Suites, 24 Hr Concierge,

Walk To Scarborough Town Centre, RT Subway/Go Bus Stations, Hwy 401, Natural Woodlot, Shopping And All Amenities

If you have any questions, buying, selling or investing just give me a call.

http://www.TorontoCondoRealEstate.ca
http://www.TeamJagpal.com

Pictures may not show exact color of the finishes in the unit.

FREE SELLER CONSULTATION & CMA - Click Here
RE/MAX Dynasty Realty Inc.  8 Shadlock St. Markham O: 905-471-0002
Houses: www.TeamJagpal.com  Condos: TorontoCondoRealEstate.ca
© 2012 Jas Jagpal, BROKER, BSc. York University

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Week 2 - Toronto Real Estate Market Update 2012

Mon, 16 Jan 2012 17:48:00 -0800

Jas Jagpal's Toronto Real Estate Weekly Market Update 2012

Jas discusses the following topics:

1. The Mortgage News by BMO. BMO reduces their 5 year fixed mortgage rates by 0.5%. Why did this occur? TD and RBC follow with cuts to their 4 year rate.

2. Should you stay with your variable rate or maybe fix in a 3, 4, 5, year mortgage rate?

3. What is the market outlook for 2012? Are prices going up or down?

4. Why it is a great opportunity for Buyers and Sellers to buy and sell now.

5. Is the market going to dive in 2012? Jas doesn't think so if the first two weeks have been indicative to what we can expect. Jas has noticed a lot of action in the market. Lower rates are only going to further boost the buying market.

6. Scarborough Town Centre- Centro Condo Update - should you lease or sell your unit? What are they worth? Are the prices going to go up? When is the best time to sell.

7. New Condo Buying Tip! - Clause you need in your Agreement of Purchase and Sale to save your thousands on taxes. Also for new homes.

So you have buying, selling or investing questions? Call and book your no-obligation, in-office consultation and get all your questions answered.

FREE SELLER CONSULTATION & CMA - Click Here
RE/MAX Dynasty Realty Inc. 8 Shadlock St. Markham, On L3S 3K9 O: 905-471-0002
Houses: www.TeamJagpal.com Pre-Construction Condos: www.TorontoCondoRealEstate.ca
© 2012 Jas Jagpal, BROKER, BSc. York University

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What is the Magic Number of Views?

Fri, 13 Jan 2012 17:58:00 -0800

What is the Magic Number of Homes You Need To View before making an Offer?

There is a misconception that Buyers in Toronto, or general real estate market should see five, en, fifteen properties before they put an offer on a home. In my experience with Buyers, often times we put an offer within viewing five or fewer properties.

How is this done?

When we sit down and discuss your needs. You open up and let me know exactly what you want. I'm able to then research those properties that meet your criteria. So I find what you need, "not what I think you want". We book the appointments and then we put in an offer.

So if I've done my job properly and you've been truthful to me and let me know your needs, then we don't need to see more than 5 properties to find the right home for you.

The most important thing is that we need to communicate with each other. You don't need to waste your precious time viewing 10, 15, 20 properties that could be better spent with your family.

So be honest, upfront, and let me do the job that you've hired me to do.

Jas Jagpal, Broker

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Is it better to Rent or Buy in today's Toronto Real Estate Market?

Tue, 10 Jan 2012 07:44:00 -0800

Should I Rent or Buy in Toronto's market?

Transcription: Jan 9th, 2012

Today I want to talk to you about the question that I get asked often by people. Jas should I keep renting or should I buy? It's a question that a lot of renters do have and there is no one magic solution. Each person is different and we have to work the numbers for them plus there are different reasons why people buy.

The #1 reason being Pride of Home Ownership. Even though people know they will be paying more upfront.

So I've worked out the numbers for a Condo which is worth $250K and something a first time buyer or someone renting would be able to buy and manage.

After working out these calculations in todays low interest rate market. At 3% over 25 year ammortization, monthly payments and 5 year term. You would be paying in interest $621 and principal $561 to give you a total monthly payment of $1182. This is your mortgage payment and when you buy a condo you also will be paying property tax and maintenance fees.

For this example the maintenance fees are $275 and the property tax is $175 for a total payment of $450 a month. You add this to your mortgage payment of $1182 and you get a total monthly payment of $1630.

So an average person will say wow that is alot of money and it definately is since they can be renting an average condo for $1300 so why should they be paying $1630?

Well, we haven't deducted the principal portion of your mortgage which was $560 and when you deduct taht from your $1630 - $561 = you will pay paying around $1079 Net per month.

Basically what has happened is that you are forced into savings buy having a mortgage. So when you Buy a Condo you actually end of paying less since a good portition of your mortgage payment is going towards the principal portion. Almost 50% at these low 3% interest rates right now.

So Buying is something to consider BUT for only those who have good income, 5-10% in savings and a 3 month emergency fund. So Buying isn't for every renter out there since you have to absorb the higher upfront monthly costs, even though a large portion is going down to pay down your principal and you end up paying less net.

So this is my honest advice to you and if you have any questions, feel free to contact me anytime.

Jas Jagpal, Broker

P.S. Did you know if interest rate is raised to 4% you will be paying $200 a month more on the INTEREST portion? and if it is 5% that is a whopping $400 a month. That is why it's ideal to buy and fix in these low interest rates if you can for a good 5 years!

FREE SELLER CONSULTATION & CMA - Click Here
RE/MAX Dynasty Realty Inc. 8 Shadlock St. Markham, On L3S 3K9 O: 905-471-0002
Houses: www.TeamJagpal.com Pre-Construction Condos: TorontoCondoRealEstate.ca
© 2012 Jas Jagpal, BROKER, BSc. York University

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Week 1 - Toronto Real Estate Weekly Market Update 2012

Sat, 07 Jan 2012 10:55:13 -0800

2012 - Jas Jagpal Toronto Real Estate Weekly Update. This update will feature GTA trends and statistics, news of the day, condo & mortgage updates and will answer any questions buyers and sellers e-mail to me. Below is a text-summary of the video.

Hi Everyone, it's Jas Jagpal from RE/MAX. This year I want to do something different. I want to try to give you weekly market updates so this is week 1 and just in from TREB last year's numbers from December and wow did we have an amazing year.

In December 2011 compared to December 2010 there was 4718 new sales compared to 4286 in December 2010. The average price also increased to $451,436K in December compared to $433,523 in December 2010.

In addition we had a lot more listings compared to 2010. An increase of nearly 14%. What is this going to do? Hopefully help stabilize the market with the increased number of homes which will provide greater competition.

I also want to talk to you about the affordability factor. It has gone up a bit around 32% and is at the threshold where banks lend. If interest rates do go up higher by a percent or so it will make it difficult for those at the border of affordability to get their loans approved.

Everyone looking at the charts this year, compared to 2010, the average price has increased.

The statistics tell us that starting in May we had more sales in 2011 then that of last year. We also noticed prices have increased this year. This may mean that people are cashing out on the higher prices since there was also an increase in listings starting in July 2011 compared to July 2010.

The prime mortgage rate is still at 3%. Banks aren't giving discounted variable rates. Their encouraging fixed rate mortgages which are hovering around 3.25%. Some brokers can get your variable rates around prime - 0.15%. Some people might want to consider fixing their mortgage if they want the peace of mind knowing what their payment will be for the next 5 years. Fixed rates are at historical lows.

On the condo front, there are excellent opportunities, especially at Centro Condos and Solaris Condos. Centro is offering 1BR + D units around $250. Solaris you can get a smaller 2BR, 2WR unit for around $270. So if you are interested give me a call and let the local expert help you.

So for 2012, the market is very strong. A lot of new activities, people calling and buying. This is a good time to buy. There are more listings, better bargains... don't wait for the spring rush. Remember anytime the interest rates goes up 1% it will affect your purchasing power by 10%. So if something is worth 200K... it will be like buying it for $210K.

That is your weekly market update. Let me know what you thought. Please send me an email and if there are anything else you want to know, let me know so that I can answer them for next week.

Thank you very much and God Bless.
Jas Jagpal

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