As many folks know, the real estate market in the GTA has cooled lately. One reason is that the Bank of Canada has been hinting at an increase in prime rates so consumers were waiting to see how this would impact their mortgage payments and ability to buy. Today it was announced that the Bank of Canada has raised its key interest rate to 0.75%. This is a 0.25% increase. So what does this mean? Honestly not much if your financial institution only increased your mortgage rate by the... [read more]

A few weeks ago my car died, God rest her soul. She had over 254,000 kms on it and I spent untold hours in that vehicle driving between Windsor, London and Oshawa with Cinder (my Cocker Spaniel).    There was no question, I needed another vehicle.  So I started the analysis of what type of vehicle I was going to purchase and it occurred to me how similar the car buying process is to securing a new home: should I buy new or used? own or lease? what features do I... [read more]

Last year we had an awesome veggie garden, thanks in large part to my husband building some fantastic raised beds. We had a number of people ask where we got our plants and my stepdaughter took great pride and in telling them we grew many from seed. We were surprised at how many folks said, "Oh I could never do that."  Yes you can!   Start will a good organic potting soil and a container of your choice. We use a combination of containers from the plastic domes to egg... [read more]

February continued to be a strong month for Durham home sales with 833 units totaling $553,949,410. The average DOM1 in Durham was 10 compared to the 13 with the rest of the GTA. The average price was $665,005 with the median price2 at $630,000. Detached homes represented 70% of the total number of sales totaling $430,882,960. The average DOM was 11 with an average price of $734,043 and median price of $703,000. The average selling price was 110% of the listing price. So what does all... [read more]

Yesterday was Family Day. It was also my grandmother's "birthday". You see, Grandma was born February 13th but always told people that her birthday was the 20th because, according to her, you celebrated your birthday on the day you were christened. Would have seemed plausable if it wasn't for the fact that no one else in her family, nor did any other families we know, celebrate that way. But that was Grandma. She made her own rules and her own sayings. My favourite was "I... [read more]

Tomorrow is Valentine’s day. A day where we show those we love how much they mean to us. But when was the last time you showed your home some love?   Your home needs attention just like people do. Here are some quick ideas to bring back the love without spending a lot of cash.   There is no quicker way or less expensive way to change the feel of a room than with paint. Add a pop of colour on an accent wall, change out the ceiling colour, or paint the furniture. Just... [read more]

I always find birthdays a time of reflection. How has life changed in the past year or the past 20 years? How will life be different in the future?   If you would have told me the journey my life has taken I wouldn’t have believed it and I couldn’t be more grateful. So with life’s unexpected adventures how can you pick a house that will grow and evolve with you and your family?   No one has a crystal ball and can see into the future. As my father would... [read more]

It’s hard to believe it has only been a few weeks since the Wallace family grew by 2. Socks and Buddy were instantly welcomed into the brood by everyone, including Cinder, our 11 year old Cocker Spaniel. We were so happy that everyone was getting along and the kids fell instantly in love. Very quickly we realized that we made the right decision in adopting these little ones from the Humane Society and welcomed them into our family.   What also became apparent was that our home,... [read more]

So this morning we woke up to the news that Donald Trump has been elected president of the United States.  So what does this mean to us in Canada and real estate prices?   Well today it means Bailey's in my hot chocolate is acceptable at breakfast, but long term I think its simply too early to tell. What is not too early is that regardless of who the US chooses to lead them our real estate market is different from theirs.   First and foremost, it is important that... [read more]

New rules from CMHC came out today with regards to how individuals will be qualified for insured mortgages.  So you are probably asking what does that mean and how does it apply to me?   This rule applies to those obtaining a first mortgage where your down-payment is less than 20%. This is called a high ratio mortgage and it requires insurance from organizations such as CMHC or Genworth.   When qualifying for a mortgage, your financial institution would... [read more]