By: Michael Tough Realty Group

Keeping Your Home Safe During An Open House

Tags: OPEN HOUSE, SAFETY TIPS

  You’re ready to sell your house. You contact your Realtor and start going through the checklist to prepare your house – scrubbing the floors, re-arranging furniture, straightening the picture frames and de-cluttering all those souvenirs you’ve accumulated through the years. It is an exciting time - an anxious time - and there are so many unknowns into which you are now s...Read More

By: Michael Tough Realty Group

A Realtor Buys a House

Tags: BUYING JOURNEY, NEW HOME

  "Honey, I think we should look at this home.” He turned in his chair, “I thought we decided we were moving next year,” he said as his wife sat down beside him with her iPad. “I know that’s what we said. But look at the pictures. The kitchen/living room/dining room combo is everything we have always talked about.” “Photos can be deceiving so...Read More

By: Michael Tough Realty Group

Sold Over Asking: Should I Really Be Impressed?

Tags: HOME PRICING, HOUSING MARKET, MARKETING

  With the recent headline of a 4-bedroom house in Vaughan selling for $400,000 over the asking price, it only seems fitting to address the issue of ‘Sold Over Asking’ claims as it is becoming more common place in our market. The exception has now become the norm!   Accurate Claim or Misleading List Price Looking at this specific house, there have been 4 sales of detach...Read More

By: Michael Tough Realty Group

Real Estate Deposits De-Mystified

Tags: DEPOSIT, MINIMUM, FIRST TIME BUYER

  In Common Law, there must be consideration for a contract to be binding. A real estate deposit essentially acts as that consideration when buying a home. It binds the buyer to the agreement and represents their ‘good faith’ that in 30, 60, 90 days on the Date of Completion they will close on the transaction. It gives the buyer some ‘skin in the game’ and the seller ...Read More

By: Michael Tough Realty Group

The 2017 Housing Market: Where Is It Headed?

Tags: HOUSING MARKET, PREDICTIONS, 2017

  Now, I am no economist and I certainly don’t allow for all those crazy things like GDP, CDN $, trade deficit, and immigration factors – what do I know about such lofty things? What I do know is real estate; specifically, localized real estate. In order to anticipate the future, we must first look at the past. So let’s look at York Region in the past five years across all...Read More

By: Michael Tough Realty Group

Mortgage Broker or Local Bank Branch – Who Should I Speak to for a Mortgage?

Tags: MORTGAGE, BROKER, SPECIALIST, BANK

You’ve saved enough for a down payment on a home and are ready to shop around for a mortgage. You want to be ready to make on offer when that perfect home comes on the market – congratulations! So who should you talk to about your Mortgage options? One of the first questions we ask new clients is whether they have Pre-Approval in place for a mortgage and there are two options you can ...Read More

By: Michael Tough Realty Group

The New Mortgage Rules and What They Mean To You

Tags: MORTGAGE RULES, GOVERNMENT OF CANADA, INSURANCE, BENCHMARK RATE

  It’s safe to say the entire Canadian Real Estate market and stakeholders were caught off guard by the Federal Government’s new Mortgage rules announced in early October. It’s now been over two months for the Real Estate community to digest and interpret those new rules, and certainly a cloud of confusion still lingers as we adjust to the new reality. It’s important...Read More

By: Michael Tough Realty Group

What Is A Bidding War & How To Successfully Navigate One

Tags: BIDDING WAR, HOW TO, MAKING AN OFFER

  What Is A Bidding War & How To Successfully Navigate One When you find a home you love, there’s a good chance someone else loves it just as much. That’s ok – this is a very common occurrence – and you’ll need to be prepared to put up a fight. A bidding war is where more than one buyer is looking to purchase a home at the same time and the competing buyers ...Read More