85 Crown Cres – Featured in the Toronto Star!

Our Agent Marcela Brun Fausto was recently featured in the Toronto Star with her listing at 85 Crown Cres!

Features Open Concept Kitchen/Dinning Room. Renovated Maintenance Free Concrete Backyard, Microfit Solar Panels,Electric Car Charger ,Tankless Water Heater, Energy Efficient A/C. Gas Line For Bbq!

To schedule a showing to see beautiful property please call 416-896-3333.

 

Buying A Home Just Got Easier! New Mortgage Incentive Coming This Year

The Canadian government is taking steps to make homebuying easier for Millennials. According to the budget proposal of 2019, the government intends to put forth $1.25 billion over a three year span from the CMHC First-Time Home Buyer Incentive.

Borrowers would still have to figure out a down payment of at least 5% of the purchase price, but they would still receive an incentive of up to 10%, which would lower the mortgage.

The incentive covers 10% for newly built homes and 5% for existing homes. A few of the catches: Your annual income must be under $120,000 to participate, and you will have to eventually repay the incentive although officials have not decided how that will unfold just yet.

The federal stress test will still be required to ensure buyers will be able to repay the debts at even higher rates.

The government is also enhancing the Home Buyer’s Plan which allows first time buyers to take out up to $25k from their RRSP to finance a home, without paying tax on withdrawal, they are proposing to raise the cap to $35k, and the new limit would apply to withdrawals made after March 19th 2019.

The only problem is that more borrowing means that housing prices are likely to go up, and may encourage Canadians to take on more debt. Buyers must keep in mind that the government is not extending the program’s repayment timeline, so any money taken out of their RRSP must be put back with 15 years to avoid the withdrawal being added to their taxable income. Now Canadians will have to repay a max. of $35k instead of $25k over the same period.

Are you a first-time home buyer looking for the best guidance in the business? Call us today! We have agents standing by to help you with any questions of concerns you may have.

Sutton Group Realty Systems Inc., Brokerage

416-896-333 / 905-896-3333

www.SuttonRealty.com  

 

TC4 Pricing & Floorplans Available – Register Today!

TC4 Condos In Vaughan

0 Minutes To Subway

Prices From The $300’s!

Welcome To Transit City – a brand new multi residential development in the heart of Vaughan Metropolitan Centre!

It has never been easier to commute from home, whether you drive or take the TTC!

Register Today For Floor Plans, Pricing and priority access!

Sutton Group Realty Systems

416-896-3333

www.CondominiumToronto.com

Which Features Will Help To Sell Your Home Quickly?

With trends constantly changing these days, it’s hard to tell which new features and design improvements will actually benefit in the quick sale of your property.

Realtor.com has offered a few key features that have helped home owners sell their home the fastest and for the best price!

  1. Gourmet Kitchens/Chefs’ Kitchens
    Open kitchen designs have exploded onto the real estate market, becoming a centerpiece for each home. Luxury is important to buyers, especially when it comes to hosting friends and dinner parties. Dark palettes like black & navy have taken precedent over the more traditional white and neutral shades. Open shelving, double doors, lots of windows, quartz counters, stainless steel appliances – these are all adding to the popularity and success of home-selling!
  2. Specialty Rooms Whether it be a home office, theatre, gym or mudroom – buyers are asking “why go out when you can stay in?”. While not as popular as they were in the beginning, design experts are saying that homes which come equipped with any type of specialty room usually go for about twice as much as the national median!
  3. Outdoor FeaturesSolar panels have become a really hot commodity thanks to the demand from climate-conscious buyers and those who are looking to cut down their electricity bills. Built-in pools (whether shared or private) have always been consistently popular, but while they attract some buyers in warmer parts of the globe, some buyers may repel due to maintenance and liability issues. Bottom line for pools is to install it for your own enjoyment first, resale value second.
  4. Smart Home Features and Electronics Anything from interconnected appliances or internet-controlled thermostats to fully-wired homes. This can be an expensive addition, but the trend is booming thanks to Amazon Echo and Google Home. These electronic home features are so easy and convenient to use – there is almost no reason these additions will go out of style. With this technology, homeowners can now pick up a simple smart home security system for pricing as low as $150, vs. having a technician come in and install a system which could run a bill over $1000! People really like having an app on a phone to know if someone’s at home or not.
  5. Indoor FeaturesNo matter where you go – fireplaces are always welcome and will never go out of style, however there are definitely more modern approaches to the classic fire place, such as being built into the wall. Another key indoor feature is the walk-in closet; not as popular as they once were due to the de-cluttering movement.

Whether you are looking to sell your home at an amazing price or are looking to purchase a home which includes any of the above upgrades, please give us a call!

We have agents waiting by the phones to answer your questions and help you with all of your buying and selling needs – each step of the way!

Sutton Group Realty Systems Inc., Brokerage

416-896-3333 or 905-896-3333

www.SuttonRealty.com

Which Canadian Province Is Leading In Multi-Family Building Permits?

New statistics show an increase of 1.6% per month in relation to permit value for residential buildings in Canada, with Ontario as the clear leader for both single-family & multifamily permits since January. In Toronto, the value for multi-family dwellings rose from 26.5% to $871 million which was the second highest value on record!

Since December, multi-family permit approvals have increased by 3.5%, totalling to 21,192. Single family home approvals decreased by 2.3% from the previous month.

As for non-residential permits, the drop was pretty significant with a total of $3.0 billion down 15.8% from December, which resulted from lower construction intentions from commercial buildings. The total value for all permits issued in January for both residential & non-residential was $8.4 billion in January, down from 5.5% from December’s record high.

Whether you are looking to invest or to buy the perform home for you and your family, do not hesitate to call us! We have agents standing by to answer any of your questions.

Sutton Group Realty Systems Inc., Brokerage

416-896-3333 / 905-896-3333

www.SuttonRealty.com

 

 

 

Looking To Sell Your Property To Foreign Buyers? Here’s What You Need To Know

In 2018 there was an 83% drop in Chinese investment in the U.S, reasons vary from the Chinese government’s restrictions on outbound investments/more strict regulations on the U.S side, causing overseas real estate sales to slow drop drastically in China.

Despite the decrease in overseas investments, a few real estate analysts predict that luxury home sellers should consider targeting other groups of buyers from Latin America & Europe, while focusing on the long-term investment of their properties.

Among China, other top investors for residential real estate in the U.S include Canada, The U.K., India & Mexico – While Canada and the U.K seem to attract more European buyers… Sellers in those regions may want to keep their eyes on these groups of buyers.

Sellers must brace themselves for the possibility of their home being on the market for longer than what’s ideal, despite nationality, international investors seem to be making their decisions with greater deliberation. Location and the type of property should be kept in mind.

The most popular of sales for foreign buyers seem to be boutique apartments, penthouses, prestige homes in the most sought-after suburbs and heritage homes with big surrounding land, as well as newer developments with well-known architects names’ attached. Foreign buyers are also looking for quality from investors, sophisticated architecture, well funded and experienced developers who are behind the project. Property that will generate rental income is also a huge factor.

International investment shrank last year in Canada (namely Toronto & Vancouver), in result of new taxes for foreign buyers. Chinese buyers in particular are seeming to purchase in Montreal instead, due to the affordability and education opportunities. Particularly homes that are furnished or developments that come with luxe amenities like pools & garages which are rather rare in China.

There has also been an “explosion of immigration toward Canada”. Buyers are coming from Switzerland, France, Belgium & French Africa, so Montreal is obviously a great option, while Americans are heading back as well, due to the exchange rate.

Looking for more tips on how to make your home more appealing to foreign buyers? Do not hesitate to give us a call! We have the most knowledgeable staff, ready to guide you through the process of buying & selling!

Sutton Group Realty Systems Inc., Brokerage

416-896-3333 / 905-896-3333

www.SuttonRealty.com

Toronto Condo Market Statistics 2017-2018

The Toronto Real Estate Board has released condominium apartment sales statistics from the GTA. As it turns out, Realtors have reported 5,191 sales through TREB’s MLS system in the fourth quarter of 2018, a result which showed sales were down 9.9 per cent compared to 2017.

Condo listings entered into the MLS system were also down by 11.2 per cent from 8,186 in 2017 to 7,272 in 2018!

Pricing for condominium apartments have increased by 8.3 per cent from $516,086 in 2017 to $558,728 in 2018. Each year the growth in price gets slightly higher, accounting for 72 per cent of transactions, resulting in an average price of $598,664.

Condo apartment sales by price range in GTAhttp://www.condominiumtoronto.ca

Looking for the best prices in condos for sale and rent?

Give us a call today – We would love to help you find your perfect new home!

Sutton Group Realty Systems Inc., Brokerage

416-896-3333 / 905-896-3333

www.SuttonRealty.com

Severe Housing Downturn in Canada is Unlikely

 

Royal Bank has stated that a widespread real estate downturn is unlikely and that the probability is “still low but has increased somewhat in recent months”. Mortgage stress tests and rising rates are making it harder for buyers to get a foot in the door.

Toronto, Vancouver & Alberta are currently at risk due to the high interest rates put on the high-priced areas, and affordability is a major at a crisis level. “Regulatory changes made the market healthier – it is now balanced, well supported by economic and demographic fundamentals, and while condo building activity is elevated we see few signs of overbuilding,” says RBC.

Montreal remains one of Canada’s stronger markets at the present time, says RBC. Elevated levels of apartment construction in Montreal, Vancouver, and Toronto is a potential long-term concern, however unsold inventories are low.

 

For more on this article, visit: https://ca.sports.yahoo.com/news/severe-housing-downturn-canada-unlikely-rbc-190257940.html

 

Canada Considers Applying Mortgage Stress Test Rules To Private Lenders

Canada is considering subjecting private lenders to the same mortgage stress test rules faced by banks to prevent housing markets from being destabilized by the lenders’ rapid growth, three sources with direct knowledge of the matter said.

Private lenders currently account for approximately one-tenth of Canada’s $1.5 trillion mortgage market, and are still dwarfed by banks but their growth has accelerated since the new rules have been introduced. The B-20 rules that were introduced last January require banks to test the borrower’s ability to make repayments at 200 basist points above their contracted rate, and have resulted in more applications for loans being rejected.

As of now, private lenders are not subject to the B-20 rules because they are supervised by provincial regulations rather than the Office of the Superintendent of Financial Institutions, the federal regulator. Bringing them under federal supervision would require a change in the law.

Two options were discussed, either the federal government would have to ask provinces to apply the B-20 guidelines themselves, private lenders would then also need to provide stress tests the same as the banks’, or the less severe alternative – to recommend provinces ensure private lenders run tighter checks on the ability of their borrowers to repay loans but stop short of imposing the actual stress test. A final decision has yet to be made.

Mortgage investment companies (MICs), have been the main driver of private lenders’ growth, picking up borrowers spurned by the banks. Lending up to 90 per cent of a property’s value, they typically charge borrowers an annual rate above 10 percent, sometimes as high as 15-20 compared with the 3-5 percent offered by banks.

For more on this article visit: https://business.financialpost.com/real-estate/mortgages/exclusive-canada-mulls-measures-to-curb-private-lenders-growth

 

 

10 Canadian Housing Charts That Show How Out Of Whack The Market Is

After years of booming times, Canada’s housing markets are at a turning point. Interest rates are rising, and the new mortgage rules have taken some steam out of the market.

Below are 10 charts illustrating just how out of whack things have become.

Canadians have never had to shell out more of their income to own a home:

Condo construction is at an all-time high:

Young families are not wanting to live in said condos:

You need to be a one-percenter to own an “average” Vancouver home:

Vancouver homes are comically overpriced:

Vancouver’s new distinction: Worst housing market:

There aren’t enough new residents to prop up Vancouver’s market:

Toronto has as much as it can handle:

Mortgage growth is at historic lows:

Investment condos are now often losing money: