One Good Earth Blog

Montreal Mortgage Lending Questions And Answers Montreal mortgage lending questions and answers features a post by Michael Bolanakis, a mortgage specialist with Scotiabank. Many of my clients are searching for information about the mortgage process here in Montreal. Michael wrote this post below, to share some of his knowledge and information on this process.  Q&A: The Mortgage Process Many first time home buyers have not really thought about what the mortgage process entails.  You may have lots of questions about the products, rates and fees but there is also more to it.  Here are answers to some common questions:   How is a loan application...

Montreal Home Buyers Program Montreal mayor Valerie Plante just introduced a new Montreal home buyers Program with refunds up to $15000.00. The mayor is trying to encourage more people to stay on the island by providing some financial support. The downtown Montreal core has not had much to offer for families, especially when it comes to affordability. The new program has strict and defined criteria: A single buyer purchasing a new development for a maximum price of $225,000 will receive $5,000 from the city. A family buying a new development for a maximum price of $400,000 will receive $10,000. A family purchasing...

Inspect to Sell Inspect to sell and why it's important! When it comes to selling your property the last person you'd probably take advice from is a home inspector. But in light of what I'm about to tell you maybe I should be the first one you come to. Have you ever sold something that you knew nothing about. Or at least very little? Chances are the answer is no. When you sell a car, you know when the last time you did an oil change was, how old the tires are, and when the breaks were last checked. That old iPhone that's been...

Info via Centris Montreal Real Estate Performance March 2018 Montreal real estate performance March 2018 according to Centris, showed the 37th consecutive increase in sales and the best month of March in eight years.  Sales on the Island of Montréal were up +7 per cent from March 2016.  While sales of single-family homes remained unchanged, condominiums stole the spotlight with a strong sales increase of 19 per cent. Mathieu Cousineau, President of the GMREB Board of Directors said "The condominium resale market is booming in the Montréal area." Prices of single-family homes across the Montréal CMA were up 5% from March of last year.  More than half...

Montreal Real Estate Market Update as of April 2018 Montreal Real Estate Market Update as of April 2018 begins with RBC's recent housing report. The headline of the report says it all. "The payback continues: home sales fell again in February following regulatory change on Jan 1". According to this report and the latest statistics, it appears as if the new mortgage tightening rules have been extremely effective. February sales across some of the major provinces in Canada show a significant decline in sales. The only exception is Montreal, which posted a 7.7% increase. Read the full report or download it here.   [gview...

Canada's New Mortgage Rules Canada's new mortgage rules and what they mean for you! With the advent of Canada's hot housing markets, the Canadian and provincial governments introduced new stop gap measures to cool down the market. Provincially, both Vancouver and Ontario implemented the 15% foreign buyers tax. At the Federal level, as of January 1st 2018, the Office of the Superintendent of Financial Institutions (Canada’s banking regulator) introduced three new rules on mortgage lending. First of the three new rules, is the new "stress test". All prospective home buyers, even those with a down payment of over 20%  will now have to...

Wellness Communities Are A Multibillion-Dollar Real Estate Trend Our homes are the latest frontier for wellness Wellness communities are  not only a multibillion-dollar real estate trend, but they're here to stay. A recent 2018 research report from the Global Wellness Institute entitled Build well to live well: Wellness Lifestyle Real Estate & Communities, is the first research report to size and analyze the global and regional wellness lifestyle real estate and communities market. "The 150+ page report finds that real estate and communities that intentionally put people's health at the center of design, creation and redevelopment are the next frontier in residential real...

The Latest Montreal Real Estate Sales February 2018 The latest Montreal real estate sales February 2018 shows a 5 per cent increase compared to February of last year and the best month of February since 2012. Five of the six main areas of the Montréal CMA registered an increase in sales.  The Island of Montréal posted significant increases of +5 per cent. Condominiums sales increased by 14 per cent in February, single family home sales +1% and plexes +3%. The median single-family home prices across the Montréal CMA was $310,000 in February, up 6 per cent compared to February 2017. The price of condominiums grew by 5%...

Montreal Investment Property Comparison Montreal investment property comparison, determining which is the best type of property for you. Buying investment property is very personalized as each investor has their unique needs, budget and comfort level with renovations and maintenance. We'll have a look at the four different types of investment property, revenue properties (duplexes triplex etc), condos, townhouses and single family homes. Multifamily is a specialized asset class that will be covered in it's own blog post. Let's look at the Pros & Cons of each type of property: Single Family Homes Pros Highest potential for appreciation, Private form of ownership with freedom to do what...

Montreal Compared To Toronto & Vancouver Markets Montreal compared to Toronto & Vancouver markets, is a quick snapshot of the the three cities in terms of their overall real estate performance. All three cities, Montreal, Toronto and Vancouver are strikingly different. Montréal is very European in feeling, with old architecture and rich history. The province's predominant language is French with a small Anglo minority.  Montreal is world renown for it's awesome food culture! Montréal's real estate market, due to political instability, endured periods of stagnation, keeping price points much lower than the Toronto & Vancouver markets. Over the past few years,...

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