Effective March 17, 2017, Canada Mortgage and Housing Corporation (CMHC) and Genworth Canada are increasing premiums for mortgage loan insurance. The higher premiums will impact homeowners with an insured mortgage with a loan to value greater than 65%. What you need to know – keeping in mind that loans under 80% loan to value…
I’ve had the pleasure of working with Tom on two separated occasions. First time as a first time home buyer and the second has a first time home seller. Needless to say I had zero to little experience in the real estate realm. It was important for me to find an agent in which I…
Thank you very much for coming over today and helping us with the fireplace. Thank you as well for the lovely bottle of wine which we are keeping to drink when we are finally settled and can enjoy it and thank you as well for the lovely comments on your card. It’s been a pleasure…
We appreciate the outstanding customer service that Tom Sapinski provided us in the sale of my mother’s home and the recent sale of our home and the purchase of… our new home. Tom is very knowledgeable and has his finger on the pulse of the housing market. He is genuinely interested in helping his clients.…
For those looking for a deal, distressed and foreclosed properties (called “power of sale” in Ontario) can offer a great opportunity. Lenders are looking to unload the property and will often offer a discount to do so quickly. But the process of buying a foreclosed home can differ a little from traditional home sales. Here are some things…
The Bank of Canada announced today that it is holding the benchmark interest rate unchanged at 0.5% with an optimistic outlook, noting that “federal and provincial measures are still expected to support growth in 2017” and predicting “a return to full capacity around mid-2018” as earlier projected in October. The Bank factored in Trump’s tax…
TORONTO — Ontario is doubling the rebate on the land transfer tax for first-time homebuyers to $4,000 in an effort to help them enter the housing market, but it is raising the same tax on homes that sell for over $2 million. Finance Minister Charles Sousa said first-time buyers won’t pay any land transfer tax…
The Federal Government has announced yet another important mortgage rule change in efforts to cool the housing market by implementing what they call a “stress test”. In other words qualifying for a mortgage just got a whole lot more difficult. Effective October 17th all insured mortgages are required to QUALIFY for their mortgage using the…
Members of the Ottawa Real Estate Board sold 1,491 residential properties in July through the Board’s Multiple Listing Service® System, compared with 1,430 in July 2015, an increase of 4.3 per cent. The five-year average for July sales is 1,413. “Sales continue to outpace 2015 numbers both in monthly and year-to-date comparisons,” says Shane Silva,…
This letter is intended to express our appreciation for the excellent service we have consistently been privileged to receive from Tom Sapinski in our search for a home in the greater Ottawa area. Tom was a pleasure to work with, whose patience and professional courtesy was constantly present during the countless homes we visited in…