October Market Watch Information from TREB

October 2012 - Market Watch States -  Average Price Up in October, Despite Fewer Sales

November 5, 2012 -- Greater Toronto Area REALTORS® reported 6,896 transactions through the TorontoMLS system in October 2012 – a decrease of 7.1 per cent compared to October 2011. There were two more business days in October 2012 versus October 2011. On a per business day basis, transactions were down by 15.6 per cent.*

“Sales have decreased in the second half of this year compared to 2011, especially since the onset of stricter mortgage lending guidelines at the beginning of July. The prospect of higher monthly mortgage payments due to the reduced maximum amortization period has prompted some households to delay their home purchase,” said Toronto Real Estate Board (TREB) President Ann Hannah.

The average selling price for October transactions was $503,479 – up 6.2 per cent compared to October 2011. The MLS® Home Price Index composite benchmark price, which allows for an apples-to-apples comparison in terms of home attributes, was up by 5.1 per cent.

“We continue to see price increases well above the rate of inflation. Active listings have remained low from a historic perspective, so substantial competition between buyers still exists, especially for low-rise homes,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“It should be noted, however, that the annual rate of price increase has been edging lower over the past few months as the market has gradually become better supplied,” continued Mercer.

*NOTE: The majority of transactions are entered into the TorontoMLS system on business days. There was a mismatch of two business days in September and October of 2012 compared to the same months last year. This is why sales on a per business day basis were noted in releases dealing with these months. The business day anomaly between the two months has now balanced out.

Land Transfer Tax in Ontario

Land Transfer Tax in Ontario

Purchasers in Ontario add Land Transfer Taxes to their list of closing costs. Land transfer taxes are levied on properties that are changing hands, are the responsibility of the purchaser.

Many provinces have multi-tiered taxation systems that can prove complicated. If you purchase a property for $260,000 in Ontario, for example, 0.5 per cent is charged on the first $55,000, 1 per cent is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5 per cent. Your total tax bill? $2,375.00

Ontario's Land Transfer Tax:

•Up to $55,000 X 0.5 % of total property value

•From $55,000 to $250,000 X 1 % of total property value, less $275

•From $250,000 to $400,000 X 1.5 % of total property value, less $1525

•From $400,000 up X 2 % of total property value, less $ 3525

Additional New Toronto's Land Transfer Tax:

Toronto home buyers will pay additional new tax rates (on purchase agreements signed after Dec 31, 2007 and close after Feb 1, 2008)


•0.5% on first $55,000,

•1% on next $345,000, and

•2% on portion over $400,000

Exemption: First time buyer do not pay the new tax on the first $400,000 of a property purchase. Discuss new Toronto's new land transfer tax

Land Transfer Tax Rebate

Land transfer Tax rebate is a permanent program allowing a rebate of provincial land transfer tax otherwise payable up to $2000 for all agreement of purchase and sale entered into after March 31, 1999 (being the land transfer tax on a $227,500 home, using above calculation). As of Dec 14, 2007, resale home buyers are eligible for Ontario's New Land Transfer Tax Rebate

Eligibility of the buyer:

•must be at least 18 years old

•must be first time home buyer and occupy the home as a principle residence no later than 9 months after the date of the conveyance

•must never have owned, or had any ownership interest in, an eligible home anywhere in the world while he/she was a purchaser's spouse or same sex partner

Eligibility of the property

•must be newly constructed home

•builder must be registered by TARION warranty corporation

Restrictions on amount claimed:

•between non-spouses: refund is reduced for the proportionate interest of the co-owner who is not eligible

•between spouses: If one spouse is first time home buyer and the other owned a home before, but not since becoming a spouse of the first time home buyer, then the spouse who is the first time home buyer would claim the whole rebate

Other conditions

Rebate received on day of registration at land registry office

•18 month deadline (from the date that the conveyance is registered) if applying for refund directly from Land Transfer Tax office

•Qualifying tax payer or their solicitors may claim an immediate refund at the time of registration.

For more information on land transfer tax rebate speak to your real estate lawyer or visit government's revenue website.

Ontario tax guidelines on amount of land transfer tax buyers pay for a newly constructed home.

Purchasers of new homes often agree to a base price and then advise the builder of any extras and upgrades they would like to add. As per the tax bulletin of March 2006 the value of these extras and upgrades are to be included in determining the amount to be declared in the land transfer tax statements, called the "value of the consideration".

The bulletin says this includes items that are part of the permanent structure, such as architectural changes, extra doors and entrances, whirlpool baths, finished basements, roughed in washrooms and fireplaces. It also includes upgrades to flooring, cupboards, doors, windows and counters, as well as exterior upgrades like lot premiums, tree plantings, driveway paving, sodding and grading.

The guidelines also appear to introduce a form of double taxation. The bulletin states that the value of the consideration is to include the value of any liability assumed and miscellaneous costs incurred by the builder as part of the arrangement relating to the conveyance that are passed to the new homebuyer. These include lot levies, development charges, school levies, architect fees, and the Ontario New Home Warranty Plan Fee.

First Time Buyers Get Tax Relief !! Did You Know That?



Tax Credits for First Time Home Buyers

 Well first time buyers, here it is !!!  There is some great news for those of you thinking about purchasing a home ! If you have any questions, please email me and I will do my best to answer them  but here is the key points  !     Thinking of renovating, now is the time as well. Read on.


As well, first-time buyers would be able to make greater use of the federal Home Buyers' Plan, which allows tax-free withdrawals from registered retirement savings plans for the purpose of buying a first home. The new withdrawal limit would be $25,000, up from $20,000.

So what are you waiting for ! Mortgage rates are at an all time low, homes are plentiful and the choice is all yours !!! Let me help you get into your first home !

Contact Michelle Makos, RE/MAX First Realty Ltd. today and get started. 416-300-3004 or email me at michelle.makos@rogers.com

Homebuyers' Plan

• The federal budget proposes to increase the withdrawal limit for first-time homebuyers using the Homebuyers Plan from $20,000 to $25,000 (per individual).

• Under this program, first-time homebuyers are allowed to withdraw funds from their RRSP, tax-free, to put towards the down payment on a home. Amounts withdrawn under the HBP must be repaid over a 15-year period, starting the second year following the year of the withdrawal.

• Since 1992, an estimated 2 million Canadians have used the Home Buyers' Plan to purchase approximately 900,000 homes, making this program a huge success. Unfortunately, as time has passed, the usefulness of this program eroded because withdrawal limits were not adjusted. For this reason, REALTORS® lobbied the federal government to increase the Home Buyers' Plan withdrawal limit to $25,000.

First-Time Home Buyers' Tax Credit

• To assist first-time home buyers with the costs related to the purchase of a home such as legal fees, land transfer taxes, etc.

Home Renovation Tax Credit

• The Budget proposes a 15 per cent credit to be claimed on the portion of eligible home renovation expenditures exceeding $1,000, but not more than $10,000, meaning that the maximum tax credit that can be received is $1,350.

• Will apply to eligible home renovation expenditures for work performed, or goods acquired, after January 27, 2009 and before February 1, 2010, pursuant to agreements entered into after January 27, 2009.

• Credit can be claimed on eligible expenditures incurred on one or more of an individual's eligible dwellings, including houses, cottages, and condominium units owned for personal use.


The Budget proposes a 15 per cent credit that would be applied to a $5,000 amount, and would provide up to $750 in tax relief to reduce costs associated with first home purchases.

Rookies in the housing market benefit from a couple of budget measures, the first being a First-Time Home Buyers' Tax Credit designed to help defray such costs as legal fees and land-transfer taxes. For homes bought after Jan. 27, a 15-per-cent tax credit would apply on expenditures of up to $5,000, which would mean maximum tax savings of $750.

For more information on how to get into your first home and use your tax benefits, give me a call !!  I would be happy to assist you and point in the direction of the professionals that can make your home buying dreams come true !!

SELLING YOUR HOME FAST

9 SECRETS TO SELLING YOUR HOME

FAST IN A SLOWER MARKET



Selling your Home Fast

 Selling a house in a balanced real estate market can be a little more challenging. In times like these, it's not enough to simply list your home and wait; you actually have to sell your home. No one really wants to sell anything when the market is slow, however, it's not impossible to sell your house without a game plan and great marketing and a positive attitude.

1. Know your market

One of the most important things you can do to get your house sold is to learn your market, the value of your property and your competition. Most sellers operate in the dark, simply offering the property for the price they want, without regard to what other homes have sold for and are currently selling for. Undervaluing or overpricing your home can cost you tens of thousands of dollars.

2. Price your home right

With homes sales slowing, there's little doubt that selling for a good price in today's market is going to be tricky.  So if you try to ask as much for your property as your neighbour got a year ago, you are probably not asking enough but it all depends on finishes and extras.  Price your home conservatively by looking at similar houses currently on the market. Also look at the homes that aren't selling. Chances are those owners priced their homes too high.

If you really want to stimulate a sale, you should under price your property by just a little. Trimming the price by a few thousand dollars can generate more foot traffic and create a buzz.

3. Make your home presentable

Keep your house looking good at all times, repair things that are broken, and replace things that are rundown. Add a fresh coat of paint (neutral colors preferred), freshen up landscaping, trim trees, clean up clutter and remove personal items, so that prospective buyers can picture themselves in the home rather than seeing you there.

To guarantee a quick sale, consider using a professional home staging service but it is not always necessary. Your property must make a strong, positive impression. Staging a home is the cheapest way to make a house look different from your competition so it becomes the most memorable one that the buyer saw.

4. Market your home aggressively

In addition to using the multiple listing service, advertise in local papers and be sure to include beautiful photos. Each photo should showcase something interesting and unique about the property.  Use the power of the internet.  I personally blast my listings all over the internet and various tools to rank it higher in the search engines.  Real Estate Channel, TV, You Tube videos, professional photography and more. 

Place numerous signs and flags in front of your home so that your house is easily seen. Consider placing a well designed flyer in front of the house. Make sure the flyer has great photos of the property from all angles, inside and out, as well as a link to a web site where people can take a "virtual tour."

5. Be flexible with showings

It only takes one Buyer to get your home sold. Don't make your Realtor feel as though their request for a showing is an inconvenience.

6. Play up your home's best features

If you have fireplaces, make sure that you have fires burning so that there is a beautiful warm glow and the sound of crackling. If you have a gourmet cook's kitchen, have some great-smelling treats baking in the oven. Turn on soothing music. Set all lights and lamps if the home looks dark or feels heavy. Lighting is crucial. Do the same as if you were having a formal dinner party- the house will certainly sparkle.

7. Offer buyers incentives

A low price may be incentive enough for some buyers, but others might be holding out for something more. This is where creativity can really take over. Perhaps you can throw in a new set of kitchen appliances, or a 3-day paid vacation in Mexico. There are a ton of incentives that speak to the heart of the buyer; be creative and see which one speaks to yours.

8. Offer flexible terms

Often, the best way to sell a home more quickly in a buyers market is to adjust the terms of the sale instead of the price. While it may sometimes be necessary to adjust the asking price downward, or to negotiate a lower price with the buyer, sometimes offering help with with the closing date, will go a lot further.

9. The first offer rule

If you get an offer within the first few weeks, the tendency is for sellers to try and hold out for a better offer. This is generally a mistake. The biggest fish usually bite first, so keep in mind that your first offer will often be your best.

Lastly, keep a positive attitude!

Call Michelle Makos for a free home evaluation at 416-300-3004

You will love my energy !

Power Of Sale - What You Need To Know !

The idea of getting a great deal on a power of sale house can be attractive to the right buyer, but there are many things that an informed buyer must be aware of if considering this type of purchase.



Power of Sale Homes


Choose the right agent As a buyer, you always want your own representation to ensure that your interests are protected during negotiation, and especially if you are buying a bank sale or power of sale property. The listing agent will be representing the interests of the seller (the lending institution selling the property) and many of the clauses and conditions that protect you in a “normal” transaction don’t apply in a power of sale transaction. This is why it’s extremely important to have your own agent who will be able to explain how the changes to the standard forms will affect you.

Be prepared  - Often when a deal comes up, you will have to move fast and might not have time to get a lawyer, mortgage pre-approval and insurance quote in place before you write up your offer. If these issues have already been dealt with and arranged prior to submitting an offer, you will be able to proceed confidently.

Is it really a deal? There are many factors that result in a house being sold below market value and they’re not always straight forward. Here are some issues for bargain hunters to consider:

Condition – If a house has been occupied by people with no interest in it’s condition, it can be left in horrible disrepair. The terms “fixer upper” or “needs tlc” are often used to market these types of properties. For the right buyer, this can be an opportunity to fix it up themselves and save some money along the way. What should be kept in mind, is that repair and renovation bills can add up quickly and what may seem like a “decorating challenge” episode can easily turn into “the money pit”! Be realistic and objective. If a house is being sold below market value because of poor condition, take a look in the neighbourhood and see what similar homes in good condition are selling for. Why? Because after you’ve put time, money and effort into repairing your new house – will it still end up being a good deal?

Here’s an example:

House A is being sold Power of Sale for $200,000 – your real estate agent has prepared a report of local comparable sales and you know that House B on the same street sold last month for $220,000 and it was in fantastic condition. House A needs a new roof, appliances, landscaping, new flooring, paint & décor throughout and the kitchen and bathrooms need to be renovated. You estimate that this work will cost you about $25,000.00 At the end of the day you will have pad $225,000 for a house that you could have bought and moved right into right away for $5,000.00 less!

It’s easy to look at a low purchase price and think “Wow, what a deal!” but you must make sure that after all of the additional costs have been factored in, it’s still a good deal.

Grow Houses – Marijuana grow houses being sold Power of Sale after a police bust are becoming a greater concern in our marketplace and they can affect a potential buyer in more ways that one. Perhaps the greatest concern is health. Grow houses are kept hot and moist like a greenhouse would be and this is the perfect breeding ground for mould, both visible (on walls and floors) and non-visible (behind walls and in ceilings). Not only is mould unsightly and smelly, it is also a severe health hazard and in some cases, deadly. Once a house has been infested with mould, it can be extremely difficult and costly to eliminate and in some cases, impossible. No deal is worth the health of you and your family!

In addition to mould, the electrical supply, wiring and plumbing in grow homes has often been tampered with and can result in extensive repairs for the new owners.

Another consequence of purchasing a former grow home is disclosure. Real estate agents are required by law to disclose in a listing any knowledge they have of a house having ever been used as a grow home. This means that if you buy a former grow house and want to sell it 5 years down the road, you will be required to disclose this fact to all potential buyers, thus affecting the salability of your home and the soundness of your investment. Having facilitated grow house transactions myself, I can tell you that one thing neighbours never forget is which house was busted for what and when! In the case of a grow home, in addition to buying a good deal, you may also be buying a stigma that will stay with your house for a very long time.

No utilities – Normally, when you walk into a house for sale, you can turn on the lights and hear the furnace working – not always the case with a Power of Sale. Consider the fact that you may be in a situation where you are placing an offer on a property before knowing if the heating & air conditioning works, the toilets flush and the wiring is functional!

Additional clauses – Almost all listings being sold under Power of Sale will have accompanying documents or “schedules” that will be attached to an offer. Written into these schedules are often clauses that release the seller (the lending institution) from any warranties or representations regarding the property. What does this mean? It essentially means that after you move into the house, if the roof caves in, the basement leaks, and the appliances stop working you cannot hold the seller responsible. Some common additional clauses are as follows:

· In the event that the Buyer requires vacant possession of the property and such vacant possession cannot be provided by the Completion Date, the Seller may, in it’s sole discretion, extent the Completion Date for any period(s) of time…

· The Purchaser shall purchase the property as it exists at the present time, on an “as is, where is” basis, without representation, warranty or condition with respect to the fitness, condition, zoning or lawful use of the Property. The Vendor, or anyone on it’s behalf, makes no representations or warranty with respect to any defects in workmanship, state of repair, location of structures, walls, remaining walls or fences (free standing or otherwise). The Vendor shall have no responsibility whatsoever to remedy any defect, infraction, encroachments by buildings or fences on the Property or adjoining properties or streets, comply with any outstanding Municipal, Provincial or Federal or other work orders, or complete any unfinished work. The Purchaser acknowledges that he has relied entirely upon his own inspection and investigation with respect to quantity, quality and value of the property…

· The Vendor shall not be required to furnish or produce any abstract, deed, declaration, or survey or other document or evidence of title except those in its possession…

· The Purchaser shall pay the Vendor on closing, the balance of the purchase price, subject to adjustment for the current years municipal taxes and the Vendor shall not be responsible for the payment of, and there shall be not adjustment for, development fees, lot levies, sewer charges or current water rates…

· Notwithstanding any other clauses in this Agreement, the Vendor has no knowledge and makes no representation whatsoever as to whether the Property has been insulated with urea formaldehyde foam insulation or any other type of asbestos insulation or whether the property contains any other substances, liquid gases or materials which may be hazardous or toxic…

It can be a little scary to know all of the hazards and potential pitfalls of buying a home via Power of Sale, but this is all part of becoming a savvy and educated Buyer – while it’s exciting to focus on the advantages, it’s just as important to be aware of the disadvantages. Despite all of this, the potential for finding a great deal is still certainly possible and with the right agent working with you, you can feel confident about jumping on that deal when it pops up!

If you are still interested, please feel free to sign up:

As a preferred client of Michelle Makos' Power of Sale mailing list you will be advised of:

•Properties that are identified as being sold under power of sale , conditions.

•Properties that are being sold by banks or trust companies. While these properties may not be sold under power of sale conditions my clients that were interested in power of sale listings were also interested in seeing these listings sold under bank sales or foreclosure.

•Properties that are being sold by an estate. Estate sales are not the sale as power of sale, however clients that were interested in the power of sale were also interested in the estate sales.

Marijuana Grow Homes - Red Flags

Marijuana Grow Houses - Red Flags



Inside a Marijuana Grow Home Operation



Marijuana Grow Homes are a growing concern. Having worked for the Ministry of Attorney General in my previous career, I can tell you these homes look fine primarily from the outside but have distinct things to look for on the inside. Some Power of Sale homes were previous grow houses and the costs involved to bring them back to "liveable" homes is quite expensive, not to mention the stigma associated with them and the problem to get them insured by an Insurance Company is extremely hard. So if you are thinking on purchasing one of these homes, think hard and long and know what you are getting yourself into. Here are some tips on identify a Former Grow House and what to look for.

Identifying a Former Grow House:

•Mould in corners where the walls and ceilings meet

•Painted concrete floors in the basement, with circular marks of where pots once were

•Evidence of tampering with the electric meter or the ground around it

•Indications of windows and doors having been sealed

•Unusual or modified wiring on the exterior of the house

•Brownish stains around the soffit that bleed down along the siding

•Concrete masonry patches, or alterations on the inside of the garage

•Patterns of screwholes on the walls

•Alteration of fire places

•Denting on front doors (from police ramming the door)

Identifying Potential Grow House Operators (Purchasers):

•Third party purchasers

•Questionable income sources

•No contract negotiation

•Offers to pay in large amounts of cash; multiple cash transactions

•Multiple down payments on behalf of one individual

•Secretiveness and no reasonable explanations

Identifying Potential Grow House Operators (Renters):

•Did the renter check out every room?

•Did the renter provide proper identification?

•Have references been provided and do they check out?

•Did the renter spend a lot of time viewing the breaker boxes, wiring and plumbing?

Contacts for More Information:

Contact your local police department for more information or specific concerns. In Pickering and Ajax, please call the Durham Regional Police Service or visit their website at www.drps.ca

(Source: Compiled with information from the Canadian Real Estate Association and chrismathers inc. crime and risk consulting)

Mayors Gala - Pickering

Last year I had the great pleasure of attending the Mayor's Gala with our very own Pickering Councillor, Peter Rodrigues.  We had an absolute blast !!  If you have the opportunity to go this year, don't miss it !  The website is www.mayorsgala.com and it definitely a Pickering Event you do not want to miss !!!

I will post a few pictures from the Gala 2011. 

Peter Rodrigues and Michelle Makos

Mayors Gala 2011, Pickering Ontario

Michelle Makos and Pat Clark

Don't miss this great Pickering event.   Get your tickets fast because it is always a great time !

Peter Rodrigues is a great asset to the City of Pickering.  He works hard for the taxpayers in Pickering and is always there to answer your questions.  Thanks Peter for everything you do to make Pickering, Ontario a better place to live !

A Town Called Ajax

Ajax - Bomb Girls

The Town of Ajax is a great family community and full of history.  I currently am on the the Committee for the Ajax Bomb Girls, Director of Social Media.   Ajax is the home to the DIL Munitions Plant which was located in the 1940's.   Global TV started a series called Bomb Girls after the real life stories from the plant.

On September 28th, Ajax Bomb Girls hosted a fundraising event to raise money for a monument dedicated to the women that worked at the munitions plant.  It was a fantastic evening.  We had the Mayor of Ajax and the Chair of the Committee was Ajax's own Regional Councillor, Colleen Jordan.  The event was a real hit.   Information about more fundraisers will be posted on our www.facebook.com/ajaxbombgirls page or at the Town of Ajax website.



DIL Plant, Town of Ajax



The original war time homes which are still there along Harwood Avenue bring much history to the Town.  Many of these homes have a story to tell.   It is an honour to work with such a great group of men and women who appreciate the history of the Town.

Ajax has grown now and has Costco, Home Depot, great schools and shops as well a beautiful lakeside park off Lake Driveway in South Ajax to walk or play.

When you are thinking of moving to Ajax, give me a call, I would be happy to help you with the history, the best pubs and restaurants as well as some wonderful shops that are one of a kind.

Ajax is home to Deercreek Golf and Country Club, where we hosted our Shell-A-Bration for the Ajax Bomb Girls and where many people have weddings and find great golfing.  There are excutive homes there that back onto the golf course and so much more.

North Ajax along Taunton Road is home to many new builders and plazas.  If you are looking for an affordable place to call home, consider Ajax.   It really is a little town that grew.

For more information on moving to Ajax or selling your Ajax home, please give me a call and I would be happy to meet with you and give you some insight on the neighbourhoods and the pricing. 

If you would like to search current homes available in Ajax, simply go to www.Homes4Sale-Durham/Ajax_Homes.html for a wide variety of mls listings in the Ajax neighbourhoods.

Are you thinking of selling your home?



Free Home Evaluations - Pickering, Ajax, Whitby

 Many people think about selling their home but few know exactly where to start.  My suggestion is to contact a local full time Realtor who can provide you with a free no obligation Home Evaluation.  They can show you what they will do to market your home, your neighbourhood sales and comparables as well as guide you through the process.

Selling your home is a major decision.  Don't leave it to someone whom you don't feel comfortable with.  This is the biggest investment of your life.  Find an agent that will best represent you and your family's needs.  That will be accessible and respond quickly to your questions and provide you with the information you need.  

I pride myself on my work ethic and commitment.  I don't believe in making the first contact and leaving the rest to a team.  I am the person will take you through the process from start to finish.  I will show you what you need to sell your home fast for the most money.  I am good at what I do and I do it with pride. 

If you are considering selling your home now or in the future, please don't hesitate to contact me.  I would love to sit down with you and show you what I can do to make your home selling process a rewarding and exciting experience.  Positive energy with positive results.

Looking forward to hearing from you soon for your free evaluation.  No home is too small and no job is too big !  Love what I do and do it well.  
Cheers !

Getting Your Foot in the Door (First Time Buyers)

Getting Your Foot in the Door.

Like many would-be homeowners, you may be wondering how you can possibly afford to buy your first home. Even if you think you can't afford a home, these saving tips and financing strategies can take you there sooner than you think and turn you from a renter into an owner.

Develop a culture of saving

The first priority for you should be to develop a culture of saving. This not only helps you in budgeting and planning for the future, but also to satisfy banks and other lending institutions that you have a clear commitment to save.

Start an automatic saving plan

Saving for a down payment can be a financial challenge but it's a step forward to owning your dream home. Make saving automatic by setting up an automatic savings plan at your bank to regularly move a specific amount of money directly from your chequing account to a savings account. You'll be surprised at how much you can save and how quickly the "pay yourself first" approach adds up.


Borrow from yourself

The federal government's Home Buyer's Plan (HBP) lets you borrow from your Registered Retirement Savings Plan (RRSP) to help purchase your first home. You and your partner can each withdraw up to $20,000, provided it's not locked-in and the money has been in the RRSP for at least 90 days. You have to repay the loan in installments over the next 15 years to avoid a tax hit.

Take a holiday from tax

If you open a new Tax-Free Savings Account (TFSA), you won't pay any tax on earnings, which will help you compound your savings. You can contribute up to $5,000 a year to a TFSA, and save for anything you like, tax-free.


Review your mortgage options

Once you make the decision to purchase a property, the next choice is the type of loan to suit your budget. The two most common types of loans are the variable interest rate loan and the fixed interest rate loan.

You can now choose to pay back your mortgage over 25 or 30 years, instead of the traditional 20-year amortization period. This means you will pay more interest over the long term, but you can reduce monthly payments to get into your starter home. You can always change this later, once your income rises and you can pay your mortgage down faster.


Get into a starter house

Try to be as flexible as possible when choosing your first home. Unless you are status conscious, your first home doesn't necessarily have to be your dream home. You could settle for a starter home, which you can afford with a small down payment and easy mortgage installments. There are plenty of lower-priced houses out there in need of repair, with some "Do-It-Yourself" projects where you can add more value to the house. Just be careful not to buy a place where the cost of repairs will eat up any profits you might make when you sell.


In just a few years you will build enough equity in your starter home to make it easier for you to sell and move into to your dream home.


Buying your first home is an exciting process. After all, your home could be the largest asset you'll ever own. Being able to finance most of its cost will take a load off your back in the future.

Looking for a Pickering Townhouse?

The Wharf at the Bottom of Liverpool

As many of you know - Townhouses continue to gain in popularity across the GTA  and the same is true for the Pickering area.   Pickering townhouses offer first-time buyers an affordable entry point into the real estate market.   However, not all Pickering townhouses are entry-level units. There are more and more luxury townhouses available which is appealing to a larger audience, particularly empty nesters.  If you don't want to maintain the outside, there are maintenance companies that can do that.  Freehold or Condo Townhomes are really appealing to many different walks of life.

Are you searching for the townhouse of your dreams in Pickering, Ontario? The Canada-wide Multiple Listings Service® (mls.ca) can take days before the newest townhouses for sale, properties, and other real estate listings in Pickering appear...why not use www.Homes4Sale-Durham.com to see them first?!

Using my Preferred Buyer MLS® Email Notification Program, you can search a huge inventory of MLS® property listings and view information about homes that are currently available not only in the Pickering area, but in any region of Durham and most of all it is free to sign up for and these new listings are emailed to you as they match your search criteria.

Based on your criteria, I can quickly locate townhouses complete with pictures and descriptions. You'll be notified as new townhouses come on the market daily by email, allowing you to see the hottest new Pickering real estate listings first, before they're sold or appear on MLS!

It takes a skilled real estate professional to help both buyers and sellers to make the right decision. Michelle Makos is a RE/MAX real estate professional with years of experience and knowledge to help you in the find you next townhouse.

If you have any questions about any of the Pickering townhouses you find here please feel free to contact Michelle Makos. She will be happy to give you more information or to book a viewing. If you do not find what you are looking for please visit the Find Your Dream Home section. By filling-out the form, Pickering townhouses that match your criteria will be sent to your promptly.

I promise you to make your Pickering townhouse purchase a wonderful experience.  I look forward to it.