Tuesday, May 31, 2011
Only $329,900 must sell quickly before it goes power of sale
Friday, May 27, 2011
Rent To Own - What should you Do?
Many people are always asking me about Rent to own, both from the side of the investor and from the side of the renter or future house owner.
As an investor there is lots of money to be made, the returns are incredible. It is a way to make really good money and at the same time avoid some of the tenant laws. The law is still a bit unclear whether the people living in the house are considered tenants.
As a renter, is seems like a quick way to get to the house that you would like, when you think you don’t qualify for the financing or if you don’t have all of the down payment. Sometimes it is just a matter of finding the right realtor or mortgage broker. If you are thinking of becoming a renter in a rent to own situation, there are a few points to keep in mind:
- I caution people that you have to do your research on the person or company that you are renting or purchasing from. You want to make sure that they will be able to hold on to the house while you build equity. If they end up losing the house are you considered only a tenant.
- You have to make sure that you will be able to repair your credit, obtain the downpayment or have employment to qualify for the mortgage in the time frame agreed to. Or you will lose the money that you have built up or given.
- You have to calculate the cost of getting into a rent to own versus just waiting a bit longer to see if you will qualify under normal conditions.
- You need to be sure that this is the house that you would like to purchase in a couple of years.
- You need to make sure that the house will be worth more when you take over it. What will happen if it is worth less, will the bank give you a mortgage?
These are just some things to consider, when looking into getting a rent to own property.
If you are thinking of purchasing properties are investments for rent to own, or if you think this might be the only way to get your own home, call us Today at 416-225-2290, we will guide you to make the right decision for you and your family.
As an investor there is lots of money to be made, the returns are incredible. It is a way to make really good money and at the same time avoid some of the tenant laws. The law is still a bit unclear whether the people living in the house are considered tenants.
As a renter, is seems like a quick way to get to the house that you would like, when you think you don’t qualify for the financing or if you don’t have all of the down payment. Sometimes it is just a matter of finding the right realtor or mortgage broker. If you are thinking of becoming a renter in a rent to own situation, there are a few points to keep in mind:
- I caution people that you have to do your research on the person or company that you are renting or purchasing from. You want to make sure that they will be able to hold on to the house while you build equity. If they end up losing the house are you considered only a tenant.
- You have to make sure that you will be able to repair your credit, obtain the downpayment or have employment to qualify for the mortgage in the time frame agreed to. Or you will lose the money that you have built up or given.
- You have to calculate the cost of getting into a rent to own versus just waiting a bit longer to see if you will qualify under normal conditions.
- You need to be sure that this is the house that you would like to purchase in a couple of years.
- You need to make sure that the house will be worth more when you take over it. What will happen if it is worth less, will the bank give you a mortgage?
These are just some things to consider, when looking into getting a rent to own property.
If you are thinking of purchasing properties are investments for rent to own, or if you think this might be the only way to get your own home, call us Today at 416-225-2290, we will guide you to make the right decision for you and your family.
Own a Business in the Town of Brooklin Ontario, North Whtiby
Toronto, Ajax, Pickering, Markham, Whitby, Oshawa, Missisauga, Brampton, Vaughan, Real Estate Board Market update for May 2011
The April market continued to be very strong because of the low interest rates, making it a great time to purchase or sell. We saw multiple offers on many homes. Lots of different areas saw a nice increase in prices. Also it is a great time to refinance, to pay off those credit cards or just to get a lower monthly payment.
Hear is what the Toronto Real Estate Board is stating about the market:
Tight Market Results in Strong Price Growth in April
May 4, 2011 -- Greater Toronto REALTORS® reported 9,041 existing home sales through the TorontoMLS® system in April 2011. This result was down 17 per cent compared April 2010 when sales spiked to a new record of 10,898. While off last year's record result, April 2011 sales were in line with the average April sales level reported over the previous five years.
"Existing home sales have been strong from a historic perspective through the first four months of 2011. Expect the pace of sales to remain robust through the spring, as the economy expands and home buyers continue to benefit from affordable home ownership opportunities," said Toronto Real Estate Board (TREB) President Bill Johnston.
Market conditions tightened markedly over the last year. April 2011 sales accounted for 62 per cent of new listings during the month – up substantially from 53 per cent in April 2010. Tighter conditions resulted in the average April selling price growing by nine per cent annually to $477,407.
"The number of listings has been below expectations so far this year. Increased competition between home buyers has led to an accelerating annual rate of price growth," said Jason Mercer, TREB's Senior Manager of Market Analysis. "The strong price growth experienced in April should result in more listings and more balanced market conditions."
Median Price
In April, the median price was $402,000, from the $373,000 recorded during April of 2010.
Hear is what the Toronto Real Estate Board is stating about the market:
Tight Market Results in Strong Price Growth in April
May 4, 2011 -- Greater Toronto REALTORS® reported 9,041 existing home sales through the TorontoMLS® system in April 2011. This result was down 17 per cent compared April 2010 when sales spiked to a new record of 10,898. While off last year's record result, April 2011 sales were in line with the average April sales level reported over the previous five years.
"Existing home sales have been strong from a historic perspective through the first four months of 2011. Expect the pace of sales to remain robust through the spring, as the economy expands and home buyers continue to benefit from affordable home ownership opportunities," said Toronto Real Estate Board (TREB) President Bill Johnston.
Market conditions tightened markedly over the last year. April 2011 sales accounted for 62 per cent of new listings during the month – up substantially from 53 per cent in April 2010. Tighter conditions resulted in the average April selling price growing by nine per cent annually to $477,407.
"The number of listings has been below expectations so far this year. Increased competition between home buyers has led to an accelerating annual rate of price growth," said Jason Mercer, TREB's Senior Manager of Market Analysis. "The strong price growth experienced in April should result in more listings and more balanced market conditions."
Median Price
In April, the median price was $402,000, from the $373,000 recorded during April of 2010.
Tuesday, May 17, 2011
4 bedrooms with a great inground pool for only $319,900
For more details visit: http://www.theamigo.ca/
Wednesday, May 4, 2011
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