Friday, January 15, 2021 / by Mario Daniel Sconza
2020 Recap on GTA Housing Market
Despite an unprecedented year due to COVID-19, Greater Toronto Area REALTORS® reported over 95,000 home sales in 2020 – the third-best result on record. The average selling price reached a new record of almost $930,000.
The Greater Toronto Area housing market followed an unfamiliar path in 2020. Following the steep COVID-induced drop-off in demand during the spring, home sales roared back to record levels throughout the summer and fall.
A strong economic rebound in many sectors of the economy, ultra-low borrowing costs, and the enhanced use of technology for virtual open houses and showings fuelled and sustained the housing market recovery.
Highlights of 2020 Housing Market ...
Friday, January 1, 2021 / by Mario Daniel Sconza
"An artistic listener listens for what's not being said and listens for what is not expected to be heard..."
Mario Daniel Sconza X Sue Cumming: A shadow day with Mario Daniel Sconza & Partners
Wednesday, December 23, 2020 / by Mario Daniel Sconza
Where Are We Now?
Based on historical occurrences the below is likely to happen
Tuesday, December 22, 2020 / by Mario Daniel Sconza
How To Save Thousands With One Phone Call
If making a phone call could save you $1,000, would you dial the number now?
Assuming the price you pay for something is non-negotiable is an expensive mistake.
Three Negotiation Tips To Save Your Money
1. Speak to customer retention. For example, when you call your phone provider, you rarely make it past customer service. To get better deals, you need to speak to customer retention.
2. Have a plan and be a lawyer. Imagine you are going to trial. It's you against your bill provider. Do you have a strong case to win over the jury?
3. Study the competitors. Learn what the special offers are for competitors of your provider. Use this knowledge to negotiate. "I spoke with Telus last week. They have a plan for 5GB of data and unlimited calling ...
Tuesday, December 1, 2020 / by Mario Daniel Sconza
Strategies With CMHC New Multi-Family Rules
This article is written November 9th, 2020.
The new Multi-Family CMHC rules on May 28th, 2020 with minimal subsequent changes are summarized here below.
You can only take out equity for the following reasons:
1. To discharge the outstanding balance of existing approved lender mortgage financing (or pay out of short term approved lender financing in the case of a recent acquisition) in relation to the subject Property (as applicable).
2. To secure permanent financing on the subject Property (take-out financing to pay off short-term construction)
3. To undertake capital repairs/improvements to the subject Property
4. To purchase other existing residential rental properties (2 or more units)
5. To undertake capital repairs/improvements to other existing residential rental properties (2 more units)
6. To construct new residential rental properti ...