High Park was "donated" to the City of Toronto in 1873 by John Howard with a few conditions:
1) the city could only use the land as a park with no development allowed 👍👍
2) alcohol could never be sold in the park 😞
3) he could live in his home for free until his death 😊
4) his servants could reside in the home for as long as they wish: servants lived there until 1919 😊
5) city would pay him $1,000/yr for 15 years: adjusted for inflation $15,000 in 1873 worth $300,000 today. 🤔
The City of Toronto actually got a deal in a negotiation?!? 🤔😳 Wow!!! .
Howard should have hired a realtor 😉
We did NOT see this regulatory environment coming last year when I spoke on @ctvnews but it seems that changes will continue to come. But somehow, the banks keep lending money, properties keep selling, and markets continue to increase (yes I know the numbers are "down" in the Toronto real estate board but are they really?)
If you're avoiding a conversation because you're afraid to hear you can't afford...that's not a sound plan. •
If you're interested in entering the housing market but didn't like what you've already been told, let's see how we can work with what you have. •
Regardless of your place in life or your understanding (or lack thereof) of the market, let's chat. I don't want to be looking back a year from now and thinking "I should have warned them on the news..."
Don't let fear guide you when deciding to finance a mortgage with a fixed or variable rate mortgage. With spreads between fixed and variable rates getting larger, and uncertainty in the Canadian economy pushing the Bank of Canada to the sidelines (for now), selecting a variable rate mortgage may help you pay off your mortgage faster than a fixed, if you have the right strategy.
Strategy? Care to know more? DM me for more details.
What's the market look like for February 2018 compared to last year and 2016? Watch the full video of my February 2018 #Realestate Market Update for the Greater #toronto area. Full video link in bio.
⬇️ Full video link in bio
🔷How can we help? For more information on our services please contact us for a FREE Customer Home Buyer Search or a Free home evaluation on how much your home is worth today, Contact Quang Nguyen at 416-939-8554.🔷
Great news if you have a variable rate mortgage. "If not for Donald Trump, the Bank of Canada probably would be raising interest rates. But Trump exists, and the U.S. president’s assault on the norms of global trade is so severe that the central bank has little choice but to leave borrowing costs unchanged..." Most economist are now projecting the soonest the Bank of Canada will raise rates again will be in July 2018.
Link 🔗 to article in bio 👆
Ok...it looks like a movie poster. But rates didn't move this morning. That's a good sign for anyone with a variable mortgage or who HAS NOT been pre-approved yet. Rates may still fluctuate at the bank level (this was a federal move) but we're not going to see huge increases until at least the next rate announcement in April. Thinking of making some changes? This just bought you some time.
Follow my business account! #Repost @riccio.mortgages with @get_repost
Are you looking to get into the real estate market and are unsure of what you can afford?
Let me help you by providing you a mortgage pre-approval✅ Call me now ☎️ 416.856.2379
Self-employed? The new rule changes have probably made it harder for you to qualify for a mortgage. Luckily there are options available specifically for self-employed and variable-type incomes. Let's have a chat.
Do Not Let Rates & Fees Become The Main Focus. Here's an example we would like to share:
SUBJECT 1: CREDIT BUREAU.
✔1.Sears card opened 2006, limit $500, balance $428, minimum payment $13.00 ✔2.TD line of Credit, limit $10,000, balance 10k, Minimum payment $300 ✔3.TD Visa opened in 2004, limit $10,000, balance $10,000, minimum payment $300 ✔4.Canadian Tire MC opened 2004, limit $10,000, balance $10,000, minimum payment $300 ✔5.BMO MC card opened in 2006, limit $5000, balance $5000, minimum payment $150. ⚠️How much money has been spent on minimum monthly payments since the cards were opened?
1. Sears Card $936.
2. TD LOC $36,000.
3. TD Visa $20,160.
4. Canadian Tire MC $28,880.
5. BMO MC $10,800. ⚠️ That is a grand total of $96,776!
To most people, that is principal that they could have paid towards their mortgages, money for their child's education, a new boat, a down payment on a cottage...... That is a huge amount of money.
You don't want to be in this revolving trap, Refinancing for one year and consolidating all debts into one payment is the best option for clients in a similar situation as above.
We can offer free advice and save you tons of money 📞1-800-283-0256
A great way to maximize your down payment is to take advantage of the Home Buyers’ Plan (HBP). This program allows you to withdraw up to $25,000 in a calendar year from your RRSPs to purchase or build a qualifying home. March 1, 2018 is the deadline for RRSP contribution for the 2017 tax year. Want to know more about your mortgage options? Let’s connect firstname.lastname@example.org
I specialize in this type of assistance so that you can get the bank and other debts off your back, make your payments up to date, and look forward to getting the most out of your sale!
I can offer several options for you, depending on your situation. Every person's situation is different!
The results are in...It’s a new year...the Bank of Canada raised it’s key lending rate by a quarter point to 1.25….Unemployment rate falls to the lowest rate in over 40 years...Believe it or not...Employment in Ontario increased by 176,000 from December 2016 to December 2017. That is a 2.5% growth increase in jobs for 2017. The economy is actually doing pretty good. So what does that mean if you’re looking to buy or sell a house right now.
Watch the video below ⬇️
⬇️ Full video link in bio
🔷How can we help? For more information on our services please contact us for a FREE Customer Home Buyer Search or a Free home evaluation on how much your home is worth today,
Contact Quang Nguyen at 416-939-8554.🔷
My Canada Flag out in show of support for our Olympians!🏅 It's sad to see more international flags during the World Cup/Euro Cup than Canadian flags during the Olympics. Time to show our Canadian pride. 🇨🇦🇨🇦🇨🇦 #Canada#Canadianpride#olympics#gocanadago
Goos morning friends👋🏼 I recently came across the question from a client and thought it would be useful to share the answer with everyone👇🏼👇🏼 ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ Question: “what’s the difference between the variable and adjustable rate? I thought it’s the same thing”. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ Answer: the concept of both is quite similar, both variable and adjustable rates are tied to the bank’s prime rate, however there is one important difference that you should be aware of! Below are the definitions for both, so please be aware, ask and confirm with your mortgage agent that you are getting the product that you need👍🏼😉 ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ VARIABLE rate: when the prime rate fluctuates, your monthly payment remains constant. Ex: if prime rate rises, more of the payment goes towards the interest; and if it goes down, more of the payment is devoted to the principal balance! Your monthly payment always remains the same!💰 ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ With ADJUSTABLE rate, your monthly payment will increase/ decrease in accordance with the changes in the prime rate! The higher the rate, the higher the interest portion of the payment as well as the monthly payment💳 ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀⠀ #mortgage#mortgageagent#mortgagebroker#mortgageincanada#canadianrealestate#realestate#canada#toronto#investing#firsttimehomebuyer#investmentproperty#variablerate#fixedrate#adjustablerate#toronto#realtor#gta#ontario#torontomortgage#homeowner