By: Dan Balm

Renting in Toronto?

Tags: Balm Real Estate, Toronto

When I talk about multiple offers, I am usually referring to the SALE of a property. Lately, that same term has been describing the state of RENTING an apartment. With the onset of the new mortgage rules, the delay in building new units and the population increases in the core – finding and renting a unit has never been so challenging. Last month, I was able to successfully negotiate a leas...Read More

By: Dan Balm

Those mortgage changes won’t affect me. I rent!

Tags: Balm Real Estate, Dan Balm, Toronto

Big news from the government Big Dogs this week.   If you are thinking about buying or selling, you may want to check out these changes: Canadians will be able to borrow against their home equity to a maximum of 80%, down from the current 85% the maximum amortization period for a government-insured mortgage will drop to 25 years from 30 years Mortgage payments will be limited to 39% of gross...Read More

By: Dan Balm

The Starting Point For Every Renter

Tags: Dan Balm Real Estate, Dan Balm, Toronto

Every now and again, I will help someone put together a lease for a property in Toronto. Sometimes they rent while saving up for a downpayment, other times it is a first time home buyer who decides that they will wait until prices fall and rent until then.  Naturally, they ask me what documents they need and what rights they have. So here is the abbreviated version of our conversations. Doc...Read More

By: Dan Balm

Subjective Value vs Market Value: What is the home worth to YOU?

Tags: Dan Balm Real Estate, Dan Balm, Toronto

When I am out with a new client, I usually ask a pile of open ended questions (“why is that important to you?” or “thats interesting – tell me more about that” or “how does that improve your home?”).  The more I get to know about what makes a client tick, the more accurate my search becomes and ultimately the closer I get to finding what the client ne...Read More

By: Dan Balm

Top 10 Questions People Ask Me

Tags: Dan Balm, balmrealestate, Toronto

Is there a bubble? – no simple answer here, but economists at the big five and the Bank of Canada are softening their opinion on this question and instead talking about the health of the market   When is the bubble going to burst? – if there was a bubble, it appears certain segments of the market are balancing ie West end condos, and providing greater opportunity for buyers &...Read More

By: Dan Balm

I’m going to buy a home! Is there anything I shouldn’t do?

Tags: BUYING, DAN BALM, REAL ESTATE, TORONTO

    Awesome!  You’re about to embark on one of the true milestones in life: home ownership!  Make it an enjoyable experience and don’t do the following! 1. Buy directly from the listing (seller’s) realtor. “Maybe I could get a discount on the price because there isn’t another realtor in the deal!” Nada – the listing realtors job (by ...Read More

By: Dan Balm

Election for a Home Inspection

Tags: BUYING, DAN BALM, REAL ESTATE, TORONTO

I’ve been having a lot of conversations lately about multiple offers in Toronto home buying; and I find myself describing strategies to ensure my buyers get the house safely and effectively.  I also find myself laughing at articles written about Toronto real estate.  But that is neither here nor there. One of these strategies I suggest every time is to get a home inspection prior ...Read More

By: Dan Balm

What’s a “Status Certificate”?

Tags: BUYING, DAN BALM, REAL ESTATE, TORONTO

When you are buying a condo, you are effectively buying shared ownership into a business. Before you sign on the dotted line, its probably a good thing that you ensure that you understand the business and how it is run.  And when I say “probably a good thing” I mean if you were my client I would sit you down and explain exactly why its important to know this info.   “...Read More

By: Dan Balm

Bully Offers – Leveling the playing field in Toronto Real Estate?

Tags: BUYING, DAN BALM, REAL ESTATE, TORONTO

When a property in Toronto is put up for sale on MLS, typically the seller will choose one of two ways to accept offers.  In the first: the real estate is listed, buyers view it and make an offer at any time. In the second, the real estate is listed at a price BELOW market value and offers are accepted at a certain date; typically a week later.  In option number two, the sellers know t...Read More

By: Dan Balm

Multiple Offer – What do I do?

Tags: BUYING, DAN BALM, MULTIPLE OFFERS, REAL ESTATE, TORONTO

    Last night I was talking to a friend helping her clients with an “offer holdback” in East York (refer to my blog last week about the types of multiple offers). It was her clients’ first offer and they were understandably shell-shocked with the process.  This is what our conversation looked like:   We are in a seller’s market and its a r...Read More