Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)

ARCHIVED BLOG POSTS

2015 

Can You Revive an Old Agreement? Ontario Real Estate SourceBy Brian Madigan LL.B.The answer is “no”, but a lot of people don’t believe it.Let’s assume that Bob puts in an Offer to buy Bill’s property. The offer is accepted and contains some conditions, including financing and home inspection.The ...
07/23/2015
Terms The Bank Preferred Rates 1 Year 3.14% 2.79% 2 Years 3.14% 2.34% 3 Years 3.80% 2.49% 4 Years 4.54% 2.59% 5 Years 4.84% 2.69% 7 Years 5.30% 3.39% 10 Years 6.10% 3.89% VIRM 2.85% 2.05% The prime rate is 2.85%
07/22/2015
TERM POSTED Preferred RATES* 6 month 3.14% 3.1% 1 year 2.89% 2.29% 2 year 2.84% 2.19% 3 year 3.39% 2.25% 4 year 3.89% 2.54% 5 year 4.64% 2.49% 7 year 5.3% 3.44% 10 year 6.75% 3.84% Variable 1.95% Prime 2.7% BenchMark 4.64% Cost per $1,000 $4.47 * Cost per $1000 based on 5yr fixed term rate compo...
07/19/2015
Question 3 Assume the Listing agent receives a text from Buyer’s rep C, advising that Buyer C, just signed an Offer and Form 801 will be sent over.   Is this Offer received in the context of the legislation? Question 3 ANSWER: This Offer was signed and therefore was “made” in the context of the ...
07/19/2015
Question 2Assume the Listing agent receives a phone call from Buyer’s rep B, advising that Buyer B, just signed an Offer and Form 801 will be sent over. Is this Offer received in the context of the legislation?Question 2 ANSWER:Even though this Offer was signed and therefore was “made” in the con...
07/19/2015
Question 1Assume the Listing agent receives a phone call from Buyer’s rep A, advising that Buyer A, just signed an Offer. Is this Offer received in the context of the legislation?Question 1 ANSWER:Even though this Offer was signed and therefore was “made” in the context of the legislation, the co...
07/19/2015
 The Average price of a detached single family home  in Toronto dropped about $100,000 from mid-March to mid-July. Why?You should also be aware that we are not comparing apples to apples here. All common shares of the Royal Bank of Canada are absolutely identical in all respects to every other co...
07/19/2015
You are aware of the fact that TREB compares the current statistics to a year ago, rather than last month. Inherently, that presents a problem from the perspective of analysis. It clouds the rise and fall of prices throughout the year. If you follow the trends month to month, then you will be ob...
07/19/2015
 This is the report from the Toronto Real Estate Board, just released this week:  Mid-Month Statistics July 16, 2015   Toronto Real Estate Board President Mark McLean announced that 4,332 sales were reported through TREB’s MLS® system by Greater Toronto Area REALTORS® during the first 14 days of ...
07/19/2015
    TERM POSTED Preferred RATES* 6 month 3.14% 3.1% 1 year 2.89% 2.29% 2 year 2.84% 2.19% 3 year 3.39% 2.25% 4 year 3.89% 2.54% 5 year 4.64% 2.49% 7 year 5.3% 3.44% 10 year 6.75% 3.84% Variable 2.1% Prime 2.85% BenchMark 4.64% Cost per $1,000 $4.47 * Cost per $1000 based on 5yr fixed term rate co...
07/19/2015
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BrianMadigan

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