Power of Sale Listing in Toronto and GTA

Power of Sale Listing in Toronto and GTA
Distress sales resulting from bank foreclosure or power of sale provisions, often represent a great way to get a fantastic deal on a home. It’s not easy for the average home buyer to find these deals, because you have to keep scouring the papers and they are not identifiable on the online listing services.
If you’re the type of person who recognizes what a great potential some of these properties could represent, you will be interested to know about our free Power of Sale members monthly Newsletter.
Call your Sutton Realty Systems agent at 416-762-4200 or 905-896-3333 today and let us know your price range and area.
You can also visit us on-line:

Sutton Office Training – Basics of Offers & The Misunderstood 801 Form

Sutton Agents! We have TWO training dates this week!

Make sure that you RSVP below!!

Topics: Basics of Offers & The Misunderstood 801 Form

* Thursday June 6th, 1:30pm at the Bloor West office
* Friday June 7th, 1:30pm at the Dundas office

Click here to register:
https://www.surveymonkey.com/r/F2W9V57

Agenda:
  • 801 Form: When and How to Use the 801 Form to Comply With RECO
  • Schedule B
  • Registering: When and How to Register Your Offer
  • Is an Office Admin Required to tell you how many offers are Registered?  
  • Typical Clauses
  • Watch Out for Extras – Dont Pay for Another Furnace or Hot Water Tank
Video Reminder:
Don’t forget if you need help with Digital Signatures we have a great video webinar on YouTube:
https://www.youtube.com/watch?v=ac0QOw0ShiE

SOLD! 100% Of Asking Price In ONE Day! Way To Go Bojan!

SOLD! 100% of Asking in ONE Day!

Bojan Pavlovic is a Recognized Industry Professional All Throughout The GTA.

To Get Top Dollar For Your Home, Call Bojan For The Ultimate Combo of The Best Staging, Photography and Marketing, and Negotiating Skills!
416-762-4200

What Is The “First Time Home Buyers Incentive”?

What is the First Time Home Buyers Incentive? And will it truly help Canadians who are ready to commit to buying a home?

It’s a system in place by the Canada Mortgage & Housing Corporation, however mortgage brokers in Toronto & Vancouver will tell you that this cause will only benefit first-time buyers with properties that are outside of Canada’s most expensive cities.

Here are the FTHBI facts the CMHC has shared so far:

  • It is expected that approximately 100,000 first-time home buyers would be able to benefit from the Incentive over the course of the program’s three years.
  • FTHBI is limited to households with a maximum combined income of $120,000. In addition, the program caps out at four times the applicant’s annual income, which means it can only help homeowners looking to buy properties where the mortgage value including the CMHC loan doesn’t exceed $480,000.
  • The maximum equity CMHC will take in a first home purchase is 10% of a newly built home and 5% of an existing home. It will also require borrowers to meet minimum insured mortgage down payment requirements.

Families will have lower monthly mortgage payments due to no ongoing payments however, they will still need to pass the B-20 stress test to prove they can handle the interest rates. Each buyer will also need to be pre-approved, qualify for a mortgage and prove they can carry that mortgage as well as keep up with their living expenses.

The CMHC says they are confident the program will work in all markets, despite the income and borrowing limits. Pointing out average market prices ($770,000 in Toronto) are well beyond the cap, but there is still 23% of transactions in Toronto for homes that were under $500k.

The Home Buyers Plan, which allows first-time home buyers to withdraw funds from an RRSP to purchase or build a home without having to immediately pay tax on the withdrawal. In 2019, the government increased to $35,000 from $25,000 per spouse or partner. Amounts withdrawn must be repaid to the RRSP over a 15-year period.

Over the next several months, first-time home buyers can top up their savings and start talking to their brokers and agents to prepare for the coming investment opportunity.

Are You A First-Time Home Buyer? Do You Have Questions And/Or Concerns?

No Better Brokerage To Call Than Sutton Realty! 

We Have Agents Standing By You Every Step Of The Way To Make Your Home-Buying Experience A Stress-Free Success!

Call Us Today:

Sutton Group Realty Systems Inc., Brokerage

416-896-3333 / 905-896-3333

 

Sutton Spring Connect – April 18th

This Thursday Is Sutton Spring Connect!!

3 Great Speakers Discussing: New Technology, Zillow, Millenial Leads, Branding, SEO, and Instagram.

Includes: Coffee and Baked Goods, Hot Catered Lunch, Cocktails and Hors d’oeuvres!

Call Reception Today To Register While Seats Are Still Available!
Sutton Group Realty

416-896-3333

#SuttonConnect #RealEstate #Realtors #Training #InformationSession#SuttonRealty #SpringConnect #SuttonSpringConnect

Spring Tips For Buyers & Sellers In Real Estate!

The busy season in real estate is upon us… Spring!

What are a few key tips in either buying or selling your home this season?

For starters, open houses and for sale signs are always a great option. It’s a good time for sellers to typically charge more due to the amount of interest from buyers during this busy time of year.

This February was one of the slowest in terms of sales in Canada. According to a national survey, 50% of Canadians say they think spring is the best time to sell a home. Less than have say it’s the best time to be a buyer in the market. 11% said they want to buy a hope this spring, and only 8% said they plan to sell. It’s always important to consider curb appeal!

Remember, first impressions are everything in this business. So make sure you de-clutter, clean, and apply a nice fresh coat of paint if you plan on selling your home this spring!

Buyers just may have the upper hand this spring, so the best thing you can do as a potential buyer is to ask a lot of questions early on. It’s important to know what to expect during this process. Not to mention, find a realtor who knows your market! We can’t stress enough how important it is to have a communicative relationship with your realtor, so they can guide you through your search and ensure you are connected to the right experts along the way – whether that be mortgage brokers, lawyers or home inspectors.

Call us today to speak with one of our fabulous agents! We will be happy to connect you with the perfect fit for your buying or selling needs.

Sutton Group Realty Systems Inc., Brokerage

416-896-3333 or 905-896-3333

www.SuttonRealty.com

Our Very Own Tatjana Savic Is Keeping Toronto’s Serbian Live Theatre Tradition Alive!

Toronto. ON – Live theatre is thriving in Toronto’s Serbian community and Tatjana Savic, a REALTOR® with Sutton Group – Realty Systems Inc.*, was pleased to support the tradition by sponsoring a performance of “What happened to me?” The play—which was promoted by Tieventi Inc. as the “Best Comedy Play Ever”—launched in Windsor on March 28 with stops in Waterloo, Ottawa and Toronto. The play features Andjelka Prpic, a well-known Serbian comedian and star of the television program Andjelka and Andrija, which is based on the Quebec franchise “Un Gars, Une Fille.” She plays a dozen characters in the one-woman show.

“The first of two performances in Toronto sold out quickly,” says Tatjana. “I attended and it was rewarding to see the audience response; they gave Andjelka a standing ovation. She played at least twelve different roles. Some were live, so she would transform on the stage, and some were pre-taped.”

The play itself has relevance to today’s news headlines. The main character is a young woman trying to succeed in her career, but it is clear that she needs to spend a night with a director’s son to achieve her goal. Skillful writing and acting managed to deliver the serious subject matter as a powerful comedy.

“In the end, she refused his invitation and he accepted it surprisingly well,” says Tatjana. “She furthered her career without compromising herself.”

Tatjana moved to Canada from Serbia 24 years ago. She enjoys staying connected to her cultural roots by frequenting theatre productions that feature Serbian actors, directors and writers. Sponsoring a performance was personally satisfying and she will consider doing so again.

“There are so many opportunities to sponsor cultural events here. It doesn’t have to be from the Serbian community. I’m open to anything that is magical and brings something to our city, entertains and educates people.”

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  

 

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