Monday, May 29, 2023 / by Matthew Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
It is common for couples when they are separating or getting divorced who own a home together for them to stop living together. It is common for the matrimonial home, the residence that a couple lives in before their separation to be the biggest asset that they own.
Given that many people will need a mortgage or financing from a bank or other financial institution to be able to afford to buy a home, chances are that if you are separating from your spouse or getting a divorce and wish to buy a new home, you will need a new mortgage.
In this article, we will talk about what your options are when dealing with your mortgage when you get divorced, your options for dealing with the matrimonial home when you are getting divorced and how to get out of a joint mortgage.
For a more detailed examination of the division of property after divorce and the end of . ...
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Monday, May 22, 2023 / by Matthew Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
Suppose you are following the housing market in central Ontario or anywhere in Canada. In that case, you may often hear people citing “Inventory is so low,” and they would not be wrong. Low inventory is not just an Ontario problem. It is an issue that affects the entire country, and the low inventory in the housing market is raising prices rapidly.
Why Low Housing Supply is Good for Sellers
It’s not often that a housing shortage benefits a consumer. When competition is so intense, as it is currently, there is no time to waste. To a home seller, the fact that there are not enough homes on the market also means that you can likely get a better deal than if there were many homes on the market. Below are the top three reasons why a low housing supply is good for those looking to sell their homes.
1) Higher Home Prices
With so many buyers in the marke! ...
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Monday, April 24, 2023 / by Matthew Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
The Greater Toronto Area (GTA) housing market has seen a surge in buyer competition, as March 2023 statistics show a tightening market. Consequently, the average sale price exceeded the average list price for the first time since May 2022.
Toronto Regional Real Estate Board (TRREB) President Paul Baron confirmed this growing competition in various GTA neighbourhoods. According to consumer polls, the demand for ownership housing will likely grow this year. Furthermore, first-time buyers are expected to lead the recovery as average rents approach the cost of property ownership.
Sales and Listings Overview
In March 2023, GTA REALTORS® reported 6,896 sales through TRREB’s MLS® System, a 36.5% decline compared to March 2022. However, sales grew on a month-over-month basis in both actual and seasonally adjusted figures. New listings also decreased year-over-y. ...
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Monday, April 17, 2023 / by Matthew Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
When listing a home, is professional staging necessary?
What’s really being asked here is: can a property be sold without it being professionally staged?
The short answer is, yes it can. There’s a buyer out there for every property if and when they deem the price they’re willing to pay equals the value they will get. What this means is that your listing can be sold without it being professionally staged, but it may take longer, and your client may not always be able to get the price they’re after.
It all boils down to perceived value – by both buyer and seller.
For example, in cooler markets, professional staging could help your listing get noticed first and snapped up, quicker. According to stagedhome.com, home staging can help to reduce a property’s listing time on the market by 30% to 50% and could deliver a price that is 6% to! ...
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Monday, April 10, 2023 / by Matthew Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
We’ve been wondering for a few months whether—and to what extent—2023 would be a recovery year for housing markets following a steep drop-off in 2022, albeit from a lofty start.
Our forecast, published back in January, predicted a modest recovery or the start of a recovery, but forecasts are by their very nature always conservative.
A great example of a recovery year is 2019, coming off the stress test in 2018. It started off slow but there were no listings. Sellers were waiting for spring. This year is looking increasingly similar.
February 2023 saw the same month-over-month drop in seasonally adjusted new listings that we saw in February 2019. This is not a market being flooded with listings. Quite the opposite.
From a demand vs. supply standpoint, we’re still in (or close to being in) a seller’s market at the national level. Future s! ...
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