Tracy Gobin,Sales Rep

Please listen up people .........According with the new mortgage rules
it is going to be harder to qualify for a mortgage after January 1st,
even when you have 20% down-payment.

The new stress test make people to qualify for a higher rate
that the existing one bringing as a result that a family
with a combine income of $100,000 putting down a 20% down payment
on a 3.09% five-year fixed rate amortized over 25 year.
Under the current rules, that family could qualify
for a house worth $706,692,
but after the new rules take effect in 2018,
that family would only qualify for
a house worth $559,896 based on a 4.89% stress test.

Contact me for any questions

After years as a seller market GTA real estate has became more balanced.
Detached home prices peaked in April before
the Provincial Government implemented its 16 points housing plan,
which was designed to cool the market.
Average price for Detached Homes was down 19.6 per cent
from April to August.
There are also fewer sales than last year.

On the other hand more affordable houses below
$750,000 went up 12.1 percent from last year, mainly semidetached houses.

Email me now any questions!

Up date on Vaughan market who wants to know ???

I did a quick condo number search up until the 15th of September for Vaughan...very interesting, yet not surprising because homes are still costly and people can really only afford condos...anyway, April's average was at $532k, August was $507k and for the first 15 days of September, they're at $524k! Not far off from April. Year over year in August, they're up by 11%. I'll keep you posted.

Any body want to know what your home is worth in this market FREE EVALUATION !

People don't get discourage please keep in mind!!!!
As expected, prices for August have dropped slightly...Average GTA sales were $732,292. Down 20% from April's record high of $920k. However, year over year, up 3%.

Any Questions ask away YOUR FAMILY REALTOR here to HELP!
Email now [email protected]