What Happens When a Transaction Is Extended

By Lorne Shuman: It is not unusual for a buyer to request an extension of the closing date. This column will examine the reasons for extensions and what usually happens when a transaction is extended. A buyer may request an extension of the closing date because it has not yet sold its existing home or…

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Current Residential Mortgage Rates as of January 28, 2015

Term Fixed Closed Rate 6 months 3.95% 1 Year 2.89% 2 Year 2.34% 3 Year 2.69% 4 Year 2.77% 5 Year 2.79% 7 Year 3.49% 10 Year 3.99% Prime = 2.85% Variable Closed (5 yr) = Prime minus 0.70% = 2.15% Variable Open = Prime plus 0.80% = 3.65% Secured Credit Lines = Prime  …

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More Attempts to Dethrone Stainless Steel’s Popularity

Stainless steel’s popularity has outshined its competition for years in kitchen appliances, but has that shiny, smudge-prone finish finally worn out its welcome? Appliance manufacturers have long been trying to find a potential successor to stainless steel, but none have yet to find one to top its popularity. But two companies are giving it another…

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6 Ways To Bathroom Luxury

The bathroom doesn’t have to be basic. Thanks to a wide array of new products on the market – and plenty of ways to customize – even the most outdated bathrooms can become an oasis of tranquility and a lavish retreat away from the stresses of everyday life. Here are six ideas for transforming your…

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5 Things To Know When Buying From A Bank

By Mark Weisleder I have started receiving inquiries from buyers who notice residential properties for sale and the seller is shown to be a bank. This usually indicates that the owner could not make their mortgage payments and the lender is selling the property to recover the mortgage amount owing. If you are considering making…

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Cut Your Home Insurance Costs

Floods, ice storms and violent thunderstorms have resulted in an avalanche of insurance claims in Ontario. The December ice storm in 2013, for example, resulted in $200 million in insured losses, according to the Insurance Bureau of Canada. The Toronto flooding earlier that year had already cost $940 million in losses, making 2013 a record…

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GTA Realtors® Report Mid January Resale Figures

TORONTO, January 16, 2015 – Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 1,409 sales through the TorontoMLS system during the first 14 days of January 2015. This result was up by 9.8 per cent compared to the same period in 2014. Sales were up on a year-over-year basis…

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GTA Realtors® Report Q4 Rental Market Figures

TORONTO, January 16, 2015 – Toronto Real Estate Board President Paul Etherington announced that fourth quarter 2014 condominium apartment rental transactions though the TorontoMLS system were up by 17 per cent to 5,036 compared to the fourth quarter of 2013. Over the same period, the number of condominium apartments listed on TorontoMLS was also up,…

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5 Tips For Winterizing Your Home

Try as you may to ignore it, winter weather in Ontario is putting your home’s energy system to the test. “Bitter cold temperatures may not be universally welcomed,” says Bob Betts, a spokesperson for the Ontario Natural Gas Alliance. “But homeowners should consider the seasonal change as a good opportunity to think of ways they…

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Current Residential Mortgage Rates as of January 14, 2015

Term Fixed Closed Rate 6 months    3.95% 1 Year 2.89% 2 Year 2.59% 3 Year 2.69% 4 Year 2.89% 5 Year 2.79% 7 Year 3.79% 10 Year 4.39% Prime = 3.00% Variable Closed (5 yr) = Prime minus 0.70% = 2.30% Variable Open = Prime plus 0.80% = 3.80% Secured Credit Lines = Prime plus…

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