The exterior of a house becomes very important as the weather gets better, when it comes to selling.

Ellen's Got Real Estate Tips

Scarborough Selling Fast

Amanada Crescent in Scarborough. Just sold for over almost 7% over asking, the market is very hot because there is a shortage of homes on the Toronto real estate market. This is a great time to sell because the rates are still very low. This is a great time to sell out move into Durham Region where homes are still much cheaper.

Power of Sales & Foreclosure, when it happens to you!

I get many calls from people looking for great deals on power of sales and foreclosures. As you know in life when one looses the other gains. Well this article addresses the other side of the story. As many of you know I am called for positive occasions and also for negative occasions. There are many changes in life that sometimes will not allow us to continue to pay all our financial commitments.


No matter what the situation you should take control and face the bank and financial institution. The most important thing is to take action quickly before it is too late. If you take quick actions, the bank is sometimes willing to renegotiate the terms of the mortgage, CHMC or Genworth sometimes have programs to assist, and I have even seen the banks allow you to skip a couple of payments.

Many times you have equity in the property; this can disappear quickly when you stop paying. The best thing to do is to put the house on the market and take out your equity. Even if you break even, you are still better off because the house did not go power of sale, meaning that you did not end up with of a record of non payment. Unlike a bankruptcy, I have seen where the bank that went power of sale and CHMC, have not easily forgiven the person that did not pay. This means that years down the road it would be very difficult to purchase another home with less than 20% down or to get financing through that bank or finance institution.

If things seem to be that you cannot easily sell, I have also seen some financial institutions allow a short sale, meaning that they have reduced some of the penalties and interest, in order to allow for the house to sell.

There are many steps and strategies that you can do minimize your losses and that of the bank. The main thing is to be aware of the process, and keep an eye on how much time you have left. Just as a reminder, if they mention that they are sending it to their legal department, this means that you will now be charged legal fees and that there is normally no more negotiating, just pay the full arrears.

No matter what the situation might be, give me a call and I can assist you.

Real Estate Market Update for Toronto and Surrounding areas

The prices continue to grow and likely for the rest of the year.  In most areas it seems to be a seller's market, with a slim supply of properties.   The interest rates continue to be at an all time low.   All forecast now indicate that interest rates will continue with no upward movement at least till the fall, due to the current world issues.  The 35 year amortized mortgages have now been eliminated by most banks, it did cause a bit of a market jump, but now it seems that it is back to a regular pace. Most people will find that the 30 year mortgage does very little difference from the 35 year mortgage. It is great time to purchase or sell your properties, many opportunities exist. Call me for more details.

What is happening in Toronto Real Estate Market?

Well I did not think that it would happen but I am now starting to see the price drop right across the city and the GTA. $10,000 to $20,000 is not uncommon. I am also seeing the builders giving great incentives and power of sales coming out a great prices. It might not be the best time to sell, if we compare it to last spring, but it might be a great time to sell comparing it to this upcoming summer or fall. One thing for sure, it is a great time to buy, amazing rates, great prices and the banks are still helping with the down payment.