Posts tagged with: buying

How Does Ontario’s Housing Reform Plan Affect Mississauga’s Real Estate Market?

July 4, 2017 - Updated: July 4, 2017Real Estate Market

 

Earlier this year the Ontario government made an announcement of their fair housing plan.  They were going to address sky rocking rental rates, curb foreign speculation in Ontario, and tackle the problem of “property scalpers”.  It’s been about couple months since the announcement, but how has Mississauga real estate been impacted?  Let’s look at each situation separately.

 

Affordable rent in Mississauga:  Year over year severing both landlords and tenants in Mississauga I can tell you from experience that the rates for rent are going up with little to no end in sight.  A two bedroom condo for example may only be $1,700 to $1,900 per month to rent just a couple years ago.  Today I can safely say the majority of new listings for rent are now over $2,000 per month for a 2 bed condo.

 

The new reform extends the rent controls on all buildings made before 1991 to all current properties and any built in the future.  This should limit massive price increases year over year for existing tenants.  However, if the existing tenant vacates the property, the landlord can still choose whatever price to ask for from the next tenant. In Mississauga condos rarely go un-rented even the trashiest of properties eventually get leased.  Simply put there is more demand than supply.  This leads to sometimes bidding wars for rent and while not common, some landlords turn away perfectly good tenants for better ones they hope will come along. 

 

Deterrents for foreign buyers and speculators. Made famous out west where foreign investors would treat the Vancouver real estate market like short term stocks, these reforms aim to stop any speculation here.  I’m not going to say it doesn’t happen at all, but I have yet to see it for myself.  The government will add a 15% tax on foreign buyers in the attempt to discourage them.  I am sceptical that the problem in Mississauga is the same as Vancouver, but there is no denying there is huge amount of Chinese money in certain areas of Ontario.

 

There are reports from out west that after the foreign buyer tax was installed sales dropped.  Then recently spiked again indicating maybe foreign buyers were just waiting to see what would happen then jumped right back into the market.  As most of my buyers are not foreign investors I haven’t seen this impact first hand.

 

In addition to the “speculation tax” the Provincial government will team with the Canada Revenue Agency to make sure tax is paid properly from the buying and selling of real estate.  This is huge as many local investors have been getting away without paying taxes on investment real estate mainly due to the lack of resources the CRA has.  Having recognized the obvious potential for revenue the Government has targeted real estate investors with audits to collect on taxes never paid.

 

To date there seems to be a slowdown in the Mississauga real estate market, where once there was bidding wars everywhere…now it does seem like negotiations have normailized. Detached homes are selling, but other homes are sitting on the market for over a month and seem to be on the market a very long time when compared to the first three months of the year.  These homes probably are not the target of foreign investors so I can only speculate there is a psychological block amongst Mississauga buyers at least for these more affordable homes.

 

The early result of the fair housing plan is that the Mississauga real estate market has felt its impact.  In terms of the stated goal of cutting back scalpers and controlling rent I don’t think the plan has fully hit its mark in the case of the latter.  As for the former I would say it’s probably over stepped the intended objective and put plenty of would be sellers in jeopardy of not selling in time for their goals or worse, not meeting their commitments if they purchased a bigger house first.  If there is some conclusion I can find it is this…Buyers, this is a great time to buy a house and Governments need to stay away from messing with the natural course of real estate markets for political points.

Tagged with: condos houses buying selling mississauga real estate market rent todd lee

What are the current prices for Mississauga houses or condos?

May 3, 2015 - Updated: May 3, 2015Buying Real Estate

Mississauga house or condo prices

 

When buying a Mississauga condo or house it is important for buyer’s expectations to be realistic.  Especially in a climate where inventory may be lower and demand is high.  According to the Toronto Real Estate Board, sales for Mississauga from January to March have had an average selling price to listing price of 99% and be on the market for an average of 25 days.  Buyers should expect to be in a best case situation to pay closer to asking price and in a worst case scenario be in a bidding war and pay over asking.

 

How to be prepared to buy a condo or house in such conditions?  Buyers need to be prepared as much as possible.  I recommend having a preapproved mortgage already set by the time buyers start their search.  Taking into consideration buyers will probably like a property other buyers will like. It’s smart then to look for houses 10 to20 thousand below their maximum preapproved amount in case they have to go over asking price.  With condos as there is more inventory I would say it’s safer to go to maximum, but don’t be surprised to get into a bidding war for the pretty ones.

 

Recently I showed a property to a first time home buyer.  This was a detached house which needed lots of TLC and money to make respectable.  At the time of showing I counted no less than 6 agents showing this property at about 6 pm on a Friday evening.  The average selling detached house price in this area is around 800 thousand dollars.  The asking price for this house was 450 thousand dollars.  My client wanted it at 350 thousand dollars because of all the work he would have to put into it but he didn’t like it enough to put in an offer.  The next day this detached house had fetched 24 offers to buy by time I checked at 6 pm.  It ended up selling for close to 100 thousand above asking.

 

Lately listing agents have started to ask all buyers to have certified cheques with a specific dollar amount to be included at the same time as the offer is made and accepted.  I know of situations where buyers with higher offers have lost in a bidding war to lower offers just because they were not prepared to give the deposit as per seller’s request.  Buyers must have deposit money liquid meaning the monies are not tied up in RRSP’s, GIC’s, stuck overseas etc…and be available immediately.  Take note of special instructions like having deposits ready upon acceptance.

 

Buyers who don’t put in the effort to find out if they qualify for a mortgage and shop within their means will find it very hard to be a winner in this game and only have frustration.  The Mississauga real estate market is fast paced and only the strongest, realistic and most prepared buyers come out on top.

 

By Todd Lee

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Tagged with: mississauga condos mississauga houses buying how much to pay prices

Should You Compete In A Bidding War?

May 10, 2014 - Updated: May 10, 2014Buying Real Estate

Decisions

Some of the most dread words for a home or condo shopper to hear are: “multiple offers”.  The first thing my buyers think is… “I am not going to compete in a bidding war because I don’t want to over pay”.  That logic is pretty standard as I don’t know anyone one who willingly wants to over pay for anything.

 

Obviously people still engage in this seemingly cavalier behavior and end up winning the bidding wars despite this.  Do they have regrets?  I’m sure some do.  I’ve heard from people who felt the agent involved gave them the wrong advice and made them offer way too much money and in retrospect they could have offered less to win.

 

On the other hand perhaps some people may have the opposite feeling, one of happiness because they were the victor.  In this scenario the asking price may have been priced low and therefore the well informed buyer makes a conscious decision to give an offer higher than asking price but in reality they are still paying market value.

 

A third scenario can also be true.  Sometimes there are extraneous circumstances which prevail and the buyer has no choice.  I had a client some time ago who needed to buy an apartment next door to their own so their family can be close by for medical /safety concerns.  So they waited and waited until the neighbor finally decided to sell.  These buyers would have to decide on how important it was to own the unit next door vs. if they would have to compete in a bidding war.

 

The condo or home shopper really has to consider several things when shopping these days.  Does there budget meet the asking price of what they want or is it more realistic to find something cheaper.  How do they know their budget?  Did they get a real pre-approved mortgage or did someone ask them 3 or 4 basic questions and gave them a rough idea?  Confidence plays a huge role in a buyer’s strategy in multiple offer scenarios.

 

Many of my clients lately have been shopping at the top end of their budget.  They find homes they like but guess what other parties like the same homes too.  The thing is these clients are stretching to make an offer and are relying on negotiating the price down to be able to buy.  With all these multiple offers out there they will almost surely not be able to compete should the bidding war happen.  Now they have to look at a condo or home maybe in a different area to get the price to match or sacrifice something else.

 

Should the buyer wait until something else comes onto the market?  Maybe it does maybe it doesn’t.  I recall one time a client of mine found THE perfect condo.  They waited to see if the owner would reduce the price and before they made an offer someone else did.  They didn’t want to engage in a bidding war and lost their chance.  It’s been 3 years and they still haven’t found anything like the one they lost.  And the kicker is prices have gone up so much since then it would have been better to have at least tried to win a bidding war.

 

The usual manner for which a multiple offer is conducted is as follows.  The seller agent will inform the agents representing the buyers there is indeed multiple offers for the property.  The buyer agents are usually invited to meet at the seller agent’s office to make finally offers to the seller(s).  This is done for transparency.  The buyer agents can feel confident they are not being played because they are able to see all the agents present to make offers.  But, no one knows what the other’s offer is so the buyer is asked to bring their best offer forward.

 

After the seller is presented the offers they will discuss with their representation the merits of each offer and reach a conclusion as to which is the best offer.  The best offer is not always the one with the most money offered.  Other variables are at play such as the deposit amount which too low could mean the buyer is not as serious, the closing date may or may not be good for the seller and the clauses for finance and inspection may be waived making the deal more “firm”.

 

If you are an informed buyer and can understand you budget, need and your timetable requirements are tight then go for it.  You probably won’t have regrets afterwards.  For those who know you don’t have the budget then don’t bother wasting people’s time and energy and move on to something more realistic.  For those buyers who can “wait” years just understand prices are only going up and if you factor in the price increase over years you might be wiser to buy now.  In the end you win some and you can lose some.  But if you want to be the last man or woman standing you have to at least try.

 

By Todd Lee.  Be social and share Google+

Tagged with: bidding war buying multiple offers mississauga real estate blog condo condos houses homes

Buying Real Estate Can Save You Some Tax Money

March 22, 2014 - Updated: April 22, 2014Buying Real Estate

 

So it’s been some time since I last wrote to this blog and for that my apologies.  Here’s to a happy belated new year everyone.  It’s March and many people are happily thinking of their taxes right about now.  Ok that could be an exaggeration, but I’m sure no one is appreciating the winter we are still going through here in Mississauga, Ontario.  On the brighter side for all you home owners or people who will be soon home owners, I know several ways for you to either save on taxes or get money back from the government.

Home Buyers' Plan (HBP)

The Government encourages people to save for buying homes. The Home Buyers Plan allows you to withdraw (as a loan) up to $25,000 from your registered retirement savings plan (RRSP) to help with the purchase or construction of a home. Certain conditions apply. You are required to submit a request by completing the T1036 tax form that is available. You must then repay the loan, without interest, over a period not to exceed 15 years. 

First-Time Home Buyers' (FTHB) Tax Credit

Buying a home for the first time can seem to be a very complicated and expensive process.  The Federal government wants to encourage people to own homes. The First Time Home Buyers Tax Credit was created to help with this financial burden.  For 2009 and subsequent years, the FTHB is a new non-refundable tax credit of $750  based on 15% of amounts up to $5,000, for first-time home buyers after January 27, 2009.

Ontario Energy and Property Tax Credit (Ontario Trillium Benefit)

This is a tax credit for low to medium income home residence or renters to help pay for energy costs and relief for sales and property tax.  For the year 2014 you can get up to $973 if you are a not senior citizen and up to $1108 if you are a senior.

Ontario Senior Homeowners' Property Tax Grant

This grant helps qualified persons to get up to $500 each year to help with the costs of property taxes.

Rental income deductions

Revenues earned are included on an accrual basis. Expenses incurred in earning rental income must be reasonable. These would include advertising, insurance costs, interest and fees related to borrowing, legal fees preparation of lease documents or collection of overdue rents, maintenance and repairs, management fees and fees to rental agents to manage the property, office expenses, property taxes, travel and utilities.

Business use of home expenses

If as part of your employment you are required by your employer to work from home and you qualify, you can deduct expenses you have paid that are business related so long as you employer does not reimburse you.

If as a part of your self-employment business you use work space in your home as your principal place of business or you use that space only to earn your business income you qualify to deduct a portion of expenses incurred.  These include utility costs, maintenance of your home, telephone, supplies, property taxes, mortgage interest and home insurance. 

GST/HST New Housing Rebate (Seek advice directly from CRA authorities)

Buying a newly constructed or substantially (90%) renovated house used as the primary place of residence, enables the purchaser to be rebated part of the GST or HST paid in most circumstances.

I always recommend when it comes to paying taxes you should consult the CRA and a qualified tax consultant as I do not intend to represent this article as giving financial or tax advice.  By all means contact a CPA, CMA or CGA or the person working at the local mall helping to file tax returns. Base your decision on how complex your needs are.  If you don’t have someone currently doing your taxes you may want to contact a very experienced tax professional.

By Todd Lee

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References:

Expenses you can deduct http://www.cra-arc.gc.ca/tx/bsnss/tpcs/rntl/bt/rprt/xpns/menu-eng.html

Work space in the home expenses http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns206-236/229/slry/wrkspc-eng.html

Business use of home expenses  http://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/rprtng/t2125/ln9945-eng.html

First Time Home Buyers Tax Credit  http://www.cra-arc.gc.ca/gncy/bdgt/2009/fqhbtc-eng.html#q1

Building, Purchasing and Selling new Houses Building, purchasing and selling new houses http://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/cnstrctn/bldngsllnghms-eng.html

Ontario Energy and Property Tax Credit  http://www.fin.gov.on.ca/en/credit/oeptc/index.html

Ontario Trillium Benefit  http://www.fin.gov.on.ca/en/credit/otb/index.html

Healthy Homes Renovation Tax Credit  https://www.ontario.ca/taxes-and-benefits/healthy-homes-renovation-tax-credit

GST/HST New Housing Rebate (Seek advice directly from CRA authorities)GST/HST New Housing Rebate http://www.servicecanada.gc.ca/eng/goc/gst_new_housing.shtml

Tagged with: tax buying ownership rebates home save money

What Are The Closing Costs For Buying a Mississauga Condo or House?

October 17, 2013 - Updated: April 22, 2014Buying Real Estate

     Buyers often don’t realize the cost of buying any residential property in Mississauga is more than the down payment and mortgage.  Closing costs can be very significant adding thousands of dollars to the purchase of a condo or house.  If these closing costs are not taken into consideration by the buyer it will be a shocking surprise when they learn about it.  Generally speaking closing costs are made up of various fees and taxes which are incurred because of the purchase of the property.  These costs are variable meaning every situation is different, and are usually explained by the lawyer at the time of closing.  Below is a list of closing costs:

 

Land Transfer Tax - In Mississauga the buyer of a condo or house has to pay the Ontario Land Transfer Tax with the exception of qualifying first time buyers who would receive up to $2000 credit.

0.5% - on the first $55,000

1.0% - on the portion between $55,000 to $250,000

1.5% - on the balance over $250,000

2.0% on anything over $400,000

For quick calculations of land transfer tax please go to my webpage for Land Transfer Tax Calculator.

 

CMHC Insurance Premium – If the down payment is less than 20% of the purchase price the lender will require this coverage.   Mortgage insurance helps to protect lenders against mortgage default and helps consumers purchase a home with a minimum of 5%.  The premium can be paid in a single lump sum or it can be added to the mortgage.   The premium payable is based on a percentage of the home’s purchase price that is financed by a mortgage.  PST must be paid at the time of closing.  To estimate the Mortgage Insurance cost I have a calculator you can use.

 

Legal Fees and Disbursements - The buyer will require a lawyer’s services to purchase a house or condo in Mississauga.  The lawyer will be responsible for payment of all related fees and disbursements.  As every situation is different I suggest shopping around to find the best price and services covered, but I usually see clients paying around $1600 which also include things like registration of charge “mortgage”, transfer of deed and Title search of the property.

 

Title Insurance Premium – This is a type of policy which is designed to protect the home owner from challenges to the ownership of their home or from problems related to the title of the property.  A conversation with the lawyer should happen to find out if Title Insurance would be useful.  This could be around $200 plus.

 

Property Tax / Utility Bill Adjustments – In the agreement for sale of a condo or house the purchase price of a resale home is always subject to the usual adjustments at closing.  This means the seller has already prepaid for taxes or utilities and any excess amount would be adjusted back to the seller.

By Todd Lee

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Tagged with: closing costs buying condos houses mississauga

Buying Mississauga Condos: It just makes Money sense.

June 30, 2012 - Updated: April 18, 2014Condo Investments

 

    My clients often ask me the question: is Toronto the best place to buy a condo for investment purposes?  It’s easy to see there are plenty high rises buildings in development as you drive along the Gardiner Expressway.  Why wouldn’t there also be lots of money to be made?  Otherwise, why are there so many buildings going up?  My quick answer is, yes. The Real Estate Market is hot especially for rentals or the investor might be able to cash in big by flipping.  However, there is a “but” to this answer.  With so many condos built and being built the market can get over saturated. The most recent information from TREB indicates just that, as year over year appreciation was lower for condos in comparison to other segments in the Real Estate Market.  This is not to say you won’t make money on condos, but maybe not as much.

    This is where buying condos in Mississauga comes in as a great opportunity for the condo shopper.  While not being Toronto, Mississauga is located very close to the centre of Canada’s financial center and all of its vibrant night life, restaurants, attractions, museums, university’s, shopping etc… are within driving or public transit range .  This is not to say Mississauga is a barren waste land either.  The fact is, Mississauga has a very diverse population, has a vibrant city centre, a lakeshore, sports stadium, a Performing Arts Centre, night life, restaurants, trails, parks, great schools and is also home to the busiest Airport in Canada and to 61 of the Fortune 500 Canadian companies. Mississauga in essence is a mini version of Toronto but is also debt free and does not seem to be hit routinely by strikes and protestors.

   Investing into Real Estate is just like any other business venture.  Costs of investment and the potential return have to be studied and analyzed.  Let us examine the statistics posted by The Toronto Real Estate Board for the quarter one of this year.

The average sell price to list price for condos is around 97%-98% in Mississauga and Toronto.  We will simplify the comparison by just using the average list price for condos.  In Toronto, the average list price for a condo for Q1 was $360,892.00 while the average in Mississauga was $254,584.00.  What this means is on average the condo buyer will spend about $106,000 less to buy in Mississauga which obviously represents a cheaper cost.

Figure1.  Summary of Condo transactions created by TREB.

    If we focus on just the Toronto downtown core we also see the most popular units sold are one bedroom and one bedroom + den.  This segment of Toronto does represent the average price of condos listed.  By comparison, in Mississauga City Centre the most popular units sold are; two bedrooms +den and a close second place, two bedrooms and 1 bedroom +den.  The average of these units dose represents the average list price of condos in Mississauga.  Clearly, being able to purchase a bigger sized unit in Mississauga represents a greater value!

Figure 2.  Summary of condos sold in Down Town Toronto.

Figure 3. Summary of condos sold in Mississauga City Centre.

    Now let’s examine the percentage of appreciation for condos.  TREB lists the first quarter 2011 average price in the city of Toronto as $348,779.00 and for Peel Region (Mississauga represents the vast majority of condo sales in this region.  TREB did not collect data far back enough to see Mississauga’s exact numbers) $231,010.00.  As well, the average price in Peel for quarter 1 2012 was $246,688.  Doing the math the appreciation results from quarter to quarter looks like this:

Figure 4.  Condo Market Summary created by TREB.

  • Toronto condos + 3.5% in value.
  • Peel region condos +6.7% in value.

    The conclusion should be made that by percentage, appreciation of condos in Peel and more specifically Mississauga and Brampton is higher than in Toronto by almost double.  This also indicates a possible trend that wise investors are leaving Toronto for greener pastures west of the city.  One probable reason is the land transfer tax situation in Toronto.  It’s been well documented in the media that buyers are seeking other opportunities to invest their money as the cost of Real Estate is getting to be high in part, because of this tax.

    As an example if the investor (not a first time homebuyer) were to buy the average priced condo in Toronto they could expect to pay $7200.00 in Land Transfer Tax.  OUCH!  By comparison if the same investor were to buy a condo in Mississauga for the same price the Land Transfer Tax would only be $3888.00 thus saving $3,312.00.  Take also into consideration the average condo in Mississauga is cheaper and bigger than in Toronto.  If we use the average condo price in Mississauga, the result is $2294.00 of tax payable, representing a savings of $4906.00 in Land Transfer Tax versus Toronto condos!

    Another aspect of investing into condos is the potential to make rental income.  The goal for any landlords is to make money.  Thus, it’s very important to charge a tenant a rent which covers all of their investment expenses or even exceed it.  In reality most are not successful in reaching this goal, but are rather satisfied to have their tenants help to pay down the mortgage while covering the cost of condo fees and utilities.  The appreciation in value of the condo over time plus the accumulation of equity without having to put up all the money themselves can still be lucrative in the long run.  The key to renting is simple.  The Landlord must have a reliable tenant and any vacancy will add to the expense of the investment property.

    Let us have a look at the vacancy rate for condos in Toronto vs. Peel as per CHMC, 2011 Fall Rental Market Survey.  We can see the rate in Toronto is very disproportionate at 1.3% in comparison to Peel which is at 0.3%.  The disparity can be explained by perhaps the type of tenant.  In Toronto one bedroom condos is king for sales.  If we assume many of these are being rented to business clients or students, it’s less likely they will stay long term causing the Landlord to fill vacancies with more regularity.  We know the two bedroom +den is king in Mississauga which can mean young couples or small families are renting, thus are more likely to stay longer meaning less vacancies.

Figure 5.  GTA Condo Vacancy Rate

    The last factor to consider is the cost of financing your investment.  The Federal government hinted that in the first quarter of 2012 that interest rates will probably increase this year. They also made it clear they think certain Real Estate Markets were too hot and perhaps growing without following the fundamentals.   Since the early part of the year when this was stated, some things around the world have changed.  The Euro market was in turmoil.  Now the European Union has made some changes to protect hard hit Euro economies making markets around the world more confident and perhaps negating the need to raise interest rates so soon.  However, the Feds still want to control the debt levels that Canadians are taking on.  The Feds response was to change the Mortgage rules to make it more expensive to borrow for Real Estate. They took away 30 yr. amortizations so the maximum is now 25 yrs.  To illustrate I will give an example of a monthly mortgage payment for $500,000.00 amortized by 25yrs and 30yrs.

  • 25yr mortgage = $2104.08/month, also requires an income or at least $78903.00/yr.
  • 30yr mortgage = $1902.07/month, also requires an income of at least $71328.00/yr.

    That $300 makes a huge difference in affordability as the buyer would have to make at least $7600 more a year.  Therefore, investing in Mississauga condos, the more affordable option puts you the investor at less leveraging risk.

    Another factor to consider when determining your potential to buy is how much down payment you can afford.  Assume you want to avoid the CHMC insurance fees for high risk mortgages.  You will need to have 20% of $360,892 for the average condo in Toronto which works out to $72,178.40.  In Mississauga the 20% down payment for the average condo would be $50,910.80.  In other words, you could save $21,267.60 by investing in Mississauga.

    Ultimately as a condo investor you have to ask yourself the questions…Do you prefer a rate of return of 3.5% or 6.7%?  If you are buying the condo to live in or rent would you rather have a 1 bedroom or 2 bedroom +den?  How often do you want to find Tenants?   How much can you afford to be leveraged without going into financial disaster if things don’t work out the way you had hoped?  How much down payment do you have?  After reading my blog I think you will be better prepared to answer that question yourself.

Thank you for reading my blog and as always if you are interested in my Real Estate services please don’t hesitate to contact me at:  info@toddlee.ca

*All statistics and charts are from the Toronto Real Estate Board.

By Todd Lee

Date posted - 30/06/2012

 

 

 

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It's a good market to be selling

May 4, 2012 - Updated: April 18, 2014Selling Real Estate

   

    TREB has released its latest Monthly Resale Market report May 3rd and reports transactions for April 2012 increased 18 percent in comparison to the same time last year. The report goes on to say listings of detached homes led the charge with a 22 percent increase. But, the growth in listing detached homes has not kept up with the demand for it. The condominium market is said to have seen only moderate growth as it is supplied. The report also discusses current and future interest rates being a positive factor for sales for the rest of the year.
      This observer sees a tightening of the market due to borrowing cost being affordable with high ratio mortgages having the same interest rates as conventional ones. The Bank of Canada governor Mark Carney recently signaled that interest rates will rise. With that clear indication its probable the demand for housing will increase in the short to medium term as buyers want the lowest rates possible.
      Buyers should expect to see multiple offer situations and increase asking prices. With inflation increasing faster than anticipated by the government, perhaps the rate hike will be small and gradual. For sellers the state of the market remains favorable so long as the vendor does not over price their property they should see a big payday quickly.

By Todd Lee

Tagged with: buying selling interest rates tight market

Introducing www.toddlee.ca

May 2, 2012 - Updated: April 18, 2014Real Estate

    Welcome!  Thank you for visiting www.toddlee.ca and reading my first blog.  For the first time around I wanted to introduce my revamped webpage which I’m really proud of.  The concept is to have the premium webpage for buyers and sellers in the GTA to find listings, read articles on the current real estate market and trends and provided useful tools to help them with their real estate needs.

    My Blog will be used to make announcements, educate about the real estate market in the GTA, provide commentaries and even interact with followers.   I will try to keep this frequent and with useful information for both the first time buyer and for the seasoned house hunter!

    Users of my MLS search can easily find a property they are looking for.  Once a desired property is found the user may look up details of the property, see what restaurants, schools, and transit are close by and also see its walkscore which tells them how close it is to walk to various places of interest.  Buyers can contact me directly from the listing they are viewing and I will be notified within seconds.

    In the near future sellers will be able to market their property like never before with my ToddLeeTV.  This service I provide to my clients is at the cutting edge of real estate marketing.  My sellers will be able to feature their listings to buyers potentially around the world in a TV commercial format.   Stay tuned!

    The neighbourhood section is where buyers can research useful information of where they want to live.  Included you will find a summary describing the city or town and I will feature  pictures that I’ve photo graphed, write ups about local restaurants, festivals, parks, public transit, schools etc.   I have started with Brampton and Mississauga, but will expand soon to Milton and Oakville and to the rest of the GTA in time.

    If you have questions about how much your mortgage will cost you per month or what are closing costs or land transfer tax.  I have already included many links and calculators to help you with these answers and more.

    And finally www.toddtee.ca  is a place to learn a little bit about me and the services that I provide to my buying and selling clients.

By Todd Lee

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