Coldwell Banker Real Estate Team Awards 2017 @ Eagles Nest
Coldwell Banker Real Estate Team Awards – Feb 21, 2018 @ Eagles Nest
This is a very auspicious moment for our Coldwell Banker Team, as we all gathered today to celebrate the success of our 2017 completion Year. Thank you for the recognition and especially my clients, thank you so much for the support and trust.
Market Year In Review TREB Report 2018 – Brampton Real Estate
This report is full of evidence based research and data that can help to serve as the basis for implementing innovative and practical solutions to many of the transportation
and housing problems we see today.
Rental Market Report TREB Q4 2017
Strong Average Rent Growth Continued in Q4 2017
TORONTO, ONTARIO, January 22, 2018 – Toronto Real Estate Board President Tim Syrianos
announced that average rents for one-bedroom and two-bedroom condominium apartment rents
were up very strongly on a year-over-year basis in the fourth quarter of 2017, based on
transactions reported by Greater Toronto REALTORS® through TREB’s MLS® System.
GTA REALTORS® Release December/Annual Stats
TORONTO, ONTARIO, January 4, 2018 – Toronto Real Estate Board President Tim Syrianos
announced that Greater Toronto Area REALTORS® reported 92,394 sales through TREB’s MLS®
System in 2017. This total was down 18.3 per cent compared to the record set in 2016.
Record sales in Q1 were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan (FHP) was announced. The pace of sales picked up in Q4, as the impact of the FHP started to wane, and some buyers arguably brought forward their home purchase in response to the new OSFI stress test guidelines effective January 1, 2018.
Brampton Real Estate
Seller’s Market Conditions Continue in Q4 2017
Condo Report 2017 Q4
TORONTO, ONTARIO, January 22, 2018 – Toronto Real Estate Board President
Tim Syrianos announced that Greater Toronto Area REALTORS® reported 5,773
condominium apartment sales through TREB’s MLS® System in the fourth quarter of
2017. This result was down by 15.4 per cent compared to the last three months of
Luxury Homes Market Report Jan 2018
Welcome to the Luxury Homes Market Report December 2017. Your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report provides an in-depth look at the top residential markets across the United States and Canada.
Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.
HOME OWNERSHIP GOALS
ARE LIFESTYLE CHOICES STANDING BETWEEN YOU AND YOUR HOME OWNERSHIP GOALS?
A shift in the way you approach spending and saving prior to buying your home means that you can continue to enjoy your favourite activities even after you signed the dotted line
With so much talk around Greater Toronto Area red-hot real estate market, it can be difficult for first-time buyers to avoid the ‘I’ll never be able to afford a home’ mindset. I believe homeownership is achievable, and have resources to help you on your journey.
Saving for a home buyer doesn’t have to automatically mean giving up everything you love, rather it should begin with identifying intentional spending and reviewing what is actually adding value to your life. It can be hard, particularly for millennials to give up certain comforts like vacations, nights out with friends, that preferred brand of premium coffee or a weekly manicure, but rather than cutting them out entirely, sort your ‘must-haves’ from your ‘can-live-with-outs’ and plan a reasonable budget around those expenses.
UNPACK SPENDING HABITS
Make a spreadsheet of your typical spending habits over the last 3 months to give yourself an accurate picture of where your money is going.
In a similar way you would approach a lifestyle change to reach your health and fitness goals, saving for a home buyer requires a lifestyle shift that doesn’t leave room for frivolous spending. It’s best practice to start this lifestyle shift early on.
Many new homeowners think that as long as they can get approved for a mortgage and get their foot in the door, they’ll deal with finances later. This is a birthplace for house poor phenomenon and should be avoided. A shift in the way you approach spending and saving prior to buying your home means that you can continue to enjoy your favourite activities even after you signed the dotted line. A realistic picture of how large of a monthly mortgage payment you can take on.
SORT YOUR EXPENSES
Sort expenses into two categories, Necessary and Other.
Necessary expenses are items such as shelter, transportation, living expenses and any debts that you are paying off. The rest goes into Other folder. Before you begin sorting through your non-essential expenses, look through your Necessary costs and see if you can reduce. A few simple shifts can make a huge impact on your monthly Necessary costs.
The finally begin shifting through those Other expenses. A few common categories that you would probably find are over spending in are eating out, entertainment, memberships, shopping, entertainment, travelling, bank charges or ATM fees. If this is the first time you are examining your finances, I recommend to do a deep dive into it. Divide your expenses by eating out into buying coffee, breakfast, lunch, dinner and alcohol. This will help you see where you’re spending the most. Some of these expenses may be ones that will make or break your home buying dreams.
An impulse purchase of a TV on sale, a new outfit, and an impromptu dinner night can dismantle the plan you so carefully laid out for yourself. Mindless or Unplanned spending is kryptonite to all but the best planned budgets. With your new budget in mind, learn to say no to things you can’t afford. Those plans with friends can be made for the following month and work it into your budget. Refrain from walking into retail stores when you have maxed out your shopping budget and calculate the totals in your head or on the phone before you get to the cash register to avoid those unpleasant surprises.
SET YOUR BUDGET
You can see the big picture of where your spending areas are. Now begin developing your ideal spending in each category and now you decide what you have to eliminate. While doing this it is important to avoid the mindset of sacrificing or depriving yourself. You may not be able to do or have everything you had before. It is because of a shift in your values and a path towards a larger goal. With that being said, there are many things you can continue to do with proper planning and saving. Some items on your list, like a fitness class is non-negotiable. Then you make cuts in other areas to cover that cost. It is also important to note those areas where a change in your habits is needed. Maybe bring a lunch from home or limit your dinners out to twice a month. Perhaps you were spending a lot on Uber or take too many small trips or vacations in that year you previously thought weren’t affecting your budget. This time may help you realize to increase your income and put you in a better position to meet your homeownership goals.
This will take some time, a few weeks or even months to make necessary updates to be at your ideal monthly spending & saving plan. This is the best adjustment period when you don’t have a mortgage looming over your head. Once you achieve and have arrived at your ideal spending & savings balance, you will have a better understanding of what it looks like a realistic monthly mortgage.
LOVE YOUR MONEY
Being financially wise doesn’t mean giving up your lattes or the things you love. It means spending your money in alignment with what you value most. Staying financially wise is to have a weekly date with your money. Sit down, put on some music, make a tea or pour a glass of wine and review your finances with gratitude and appreciation, not judgment and shame. Make note of where you went wrong this week, and set goals and reminders for the week ahead. Don’t skip your money date. Not only does it ensure you know what’s going on with your hard-earned cash but it also fosters a positive association with your finances, rather than the crippling fear you may have experienced before.
ADDITIONAL TIPS TO GET YOU TO YOUR GOAL:
- Every time you swipe your card set up an automatic transfer of $5 into your savings account. This will make you be more mindful of your spending, knowing it will costs you $5 a pop. At the end of the year you will have a nice chunk of change to added to your down payment.
- It is an extra hurdle if you’re still paying off debt while saving for a home, that requires a bit more attention. Consolidate your debts to the lowest interest rate possible and a payment schedule into your budget. Try to pay the higher interest debt first if you cannot consolidate. Monitor your payments and do not fall into a habit of dumping lump sums into your debt whenever you can.
- Meet with your financial advisor at the bank to talk about the fees that you may be paying. Discuss with them how to reduce these costs and to maximize your money. You can switch your accounts that best suit your spending habits and take advantage of any cash back credit cards, rebate rewards, higher interests savings or higher withdrawal limits without charges,
- There are budget tracking softwares online like Mint that will take the guesswork out of your spending in individual categories. Online banking accounts can be linked to your preferred application and setting budgets for your month in different areas. Then it will be tracked for you with each purchase you make, reminding you when you’re reaching your budget limit.
Gain the most in today’s real estate market - Jesse Johar Coldwell Banker Real Estate
Coldwell Banker Ultimate Service Guarantee
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