In the new book titled, “The Narrow Road”, by Felix Dennis, he wrote the following:

“Providing you are of reasonable intelligence and in good mental and physical health; and are not presently incarcerated in a prison… then nothing, absolutely nothing, can stop you from becoming rich…” 

Pretty cool, don’t you think? 

This means that where you are today has no bearing on where you can be tomorrow.

Your job doesn’t matter. Your income doesn’t matter. Your credit score doesn’t matter. None of these things matter. 

What does matter according to Felix Dennis is: 

How many times you are willing to fail, perhaps publicly and humiliatingly, before you succeed?

Most people fear failure and this fear stops them in their tracks. Failure is part of the process and is a learning tool. 

Dennis went on to write… 

”While there are qualities that may assist one to succeed more quickly in becoming rich from a standing start – discipline, confidence, self-belief, flexibility, being lucky, a thick hide, the ability to focus, the knack of learning to listen and learning form listening, an early inclination to delegate and to motivate those around you – nothing can compete with tenacity.

Tenacity will eventually trump all other qualities, whether inherited, acquired, or mimicked.” 

All that is required to be successful is tenacity. 

Tenacity is defined as doggedness or persistent determination. 

Are you tenacious?
Are you willing to fail multiple times in order to reach you goal? 

If you’ve answered YES honestly to both of these questions your odds of success are guaranteed.

The Most Important Quality Required for Success is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

Renting your Toronto home out can be a financially rewarding experience.

The Toronto Star recently published a story on a “tenant from hell”, who seemed like an ideal tenant at first – before leaving a string of bounced cheques and very upset landlords in her wake. Because laws in Ontario are more designed to protect the tenant, it’s difficult to get someone evicted when they stop paying rent, and even more difficult to effectively screen a potential tenant for privacy reasons.

Renting out your home for additional income is a very appealing option, but prospective landlords need to be extra cautious when screening potential tenants in order to protect themselves, and their money from costly legal battles.

DON’T let all of the horror stories scare you off, though. It can be a very financially rewarding experience, you just have to get it right the first time!

Click here to read a personal experience of our own when it came to screening tenants, as well as information on how to get a copy of our excellent rental application to avoid making mistakes.

Thinking Of Renting Out Your Home For Extra Income In Toronto? is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

The weather in the Greater Toronto Area is finally warming up, making spending a weekend at the cottage an extremely attractive option for many.

If you’re planning on buying or selling a cottage this year, there are several things to take into consideration, as cottage real estate can be different than regular homes in Toronto.

If you plan on buying a cottage soon, make sure you know what additional information you need.

Toronto Real Estate Lawyer Bob Aaron’s latest column offers a great overview of all that potential cottage buyers need to take into consideration, such as:

“The critical need for a land survey is often overlooked. A survey will disclose whether the cottage is built entirely on the owner’s land underneath it, whether there is a shore road allowance, and whether the water frontage has decreased due to erosion or increased as a result of land fill.”

“Making sure the deed describes the entire property the purchaser intends to buy is another big issue. Septic beds, wells and even all or part of the cottage itself may be located on a neighbour’s land due to historical sloppiness in marking property boundaries.”

The entire column can be found here.

It is definitely worth a read if you’re looking into buying or selling cottage real estate!

Cottage Season Is Fast Approaching – Thinking Of Buying A Cottage Near The GTA? is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

The daughter of a friend of mine is in her first year at college. She’s living in a dorm room, but she and her parents are already talking about her living arrangements for next year, when she will most likely move into an apartment.

Checking out potential tenants online can get you into trouble.

As with probably most college-aged kids, the young lady has a Facebook account. Recently, her mother told me, she began deleting some posts and pictures from her account and sharing less information. She had done the same thing a year ago, when she was applying to colleges – worried that schools are paying close attention to applicants’ social media presence – and now she’s concerned that content on her page might hurt her chances with respect to securing an apartment lease next year.
Interestingly, this wasn’t the first time I heard of this concern recently. There was an article I saw online about a woman with good income and credit and stellar record as a tenant who was turned down for an apartment. She was pretty sure the landlord had looked at her Facebook page, where people can see that she is a political activist and practices Buddhism.
Those things aren’t the same as my friend’s daughter’s concerns over pictures of college parties or foul language on her page, but the idea is the same. In a society in which it’s estimated that nearly 20 percent of companies research job applicants on social media sites, you can bet that landlords and property managers are checking out prospective tenants online, too.
If you’re a tenant, that might be bad. For example, you might not want to reveal via your social media pages that you have seven cats. You probably don’t want pictures up that show loud, wild parties going on. You shouldn’t list “How to Make Pipe Bombs in Your Kitchen,” among your favorite books.
The flip side of the situation, however, is that landlords cannot discriminate against prospective tenants. And social media sites that might reveal religious or political views, as well as things such as race are being looked at by landlords, but if they are basing decisions not to rent to tenants based on any of those criteria, they are breaking the law.
The problem is, you’d have a tough time proving it. You’d have to have proof that the landlord saw your social media page, as well as proof that what he or she found on the page was the reason you were discriminated against.
Of course, the best way to avoid the situation entirely is to be aware that landlords look online as part of their research, so don’t post things you wouldn’t want any potential landlords – or employers, loan officers, schools, etc. – to see.
And what about the landlords and social media? Well, although it seems really tempting to use social media sites as ways to investigate an applicant, it’s probably better that you don’t.
As you know, there are things you can and can’t ask on housing application. You can determine not to rent to someone based on their credit history, income, criminal past, etc., but, as it says above, you can’t turn someone down because of their race, religious beliefs, gender, disabilities, etc. Questions about those things are, of course, left off rental applications.
But the answers to those questions might very obviously show up on Facebook. And what might happen if you go to an applicant’s social media page and see their race, religion, political views or even sexual orientation? Those are not things you ask in an application, but in viewing the page, you just made that information available to yourself. As it says above, a turned-down tenant would have a difficult case to prove, but if you get the right lawyer you will at least have a major inconvenience on your hands for a while.
So as tempting as it is to use social media sites to research prospective tenants, it’s probably best if landlords steer clear of them. Whatever you want to know, ask on the application. The rest is better left not knowing.

Landlords and Tenants, Be Careful with Social Media is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

According to the Toronto Real Estate Board, 4,557 transactions occurred in the first two weeks of April through the Toronto MLS Listings, which is an increase of about seven per cent over the same time last year.

Toronto Real Estate Board Mid-Month Stats For April. Click for full size.

The president of the Toronto Real Estate Board, Richard Silver, said, “Competition between buyers remained strong in many parts of the Greater Toronto Area during the first half of April, with many listings attracting a lot of attention. Strong competition meant that, on average, sellers priced within market value range received offers that matched their asking prices within three weeks.”

New listings also increased, but only slightly compared to sales. The average sales price during the first half of April was $506,954, which is an increase of five per cent over the same time last year.

“Growth in listings has not kept up with growth in sales,” said Jason Mercer, the Toronto Real Estate Board’s senior manager of market analysis. “In the City of Toronto, new listings for low-rise home types during the first half of April were actually down compared to last year. This helps explain why some of the tightest market conditions in the GTA can be found within the 416 area code,” he said.

Click here for the full press release.

Toronto Real Estate Board Releases Mid-Month Resale Housing Stats is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

Home sales through the Toronto MLS Listings increased by eight per cent in March 2012 over March 2011, according to the latest market update from the Toronto Real Estate Board.

Toronto Real Estate Board prices and sales for March 2012. Click for full size.

Throughout the Greater Toronto Area, 9,690 real estate transactions took place compared to 8,986 last year in March.

“The GTA resale market has not suffered from a lack of willing buyers this year. Buyers have been spurred on by the positive affordability picture brought about by low mortgage rates,” said the president of the Toronto Real Estate Board, Richard Silver in a press release. “The challenge has been a lack of inventory. Many listings have attracted multiple interested buyers. Strong competition has led to annual rate of price growth well above the ling-term average.”

The biggest sellers in both the 416-area code and the 905-area code were detached homes, sales of which increased by 12 per cent and 16 per cent respectively, year-over-year.

“The number of new listings was up last month in comparison to March 2011,” said the senior manager of market analysis for the Toronto Real Estate Board, Jason Mercer. “However, based on the historic relationship between price and listings, the GTA resale market should be better supplied. If competition between buyers remains as strong as it is right now, we will most certainly see an average selling price above $500,000 for 2012 as a whole,” he said.

Stay tuned! Our full analysis of the March Toronto Real Estate Board sales will be coming in just a few days!

Toronto Home Sales Increase in March is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

The recent record-setting temperatures in Toronto have resulted in some of our gardens coming back to life, including those pesky little weeds that can grow up through small cracks in our walkways and driveways. The upcoming cold snap this weekend won’t do much to deter the weeds, which can make the exterior of your house look untidy.

Keep those pesky weeds away with white vinegar instead of herbicides.

Many homeowners aren’t comfortable using herbicides around their home, especially if they have small children, pets or are worried about how long the herbicide will remain in the soil when they want to keep their garden healthy.

What you can do, is use undiluted white vinegar to get rid of these unwanted weeds in hard-to-reach places like a stone walkway or gravel path. You can buy a pump sprayer (or even a small hand spray bottle) at any garden store or dollar store. Just keep in mind that unlike some commercial weed-killers, vinegar could harm friendly plants that you’d like to keep, so it’s best suited to areas where you don’t want anything growing.

Quick Curb Appeal Tip From Your Toronto Real Estate Team! is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

According to the latest Toronto MLS Listing statistics from the Toronto Real Estate Board for the first 14 days of March, the low supply and high demand trend for Toronto Real Estateis continuing.

Toronto MLS Listing stats for mid-March, 2012. Click for full size.

Home sales in Toronto increased by seven per cent compared to the same time last year, while the number of listings decreased by two per cent over the same time last year. Using the Toronto MLS Listings, 4,215 homes were sold and 6,970 new listings were posted.

“Home buyers continue to benefit from the affordable housing situation in the GTA,” said Richard Silver, the president of the Toronto Real Estate Board. “Immigration to Toronto and surrounding areas adds to the pool of home buyers every year. The economic and ethnic diversity found in the GTA consistently attracts newcomers and foreign investment.”

The average selling price increased by over nine per cent to $502,155, and most homes were on the market for about three weeks. Home sellers received 100 per cent of their asking price on average.

“Strong competition between home buyers in many parts of the GTA has resulted in sellers realizing their asking price in a short period of time,” said Jason Mercer, the Toronto Real Estate Board’s senior manager of market analysis. “The fact that homes are selling for 100 per cent of the asking price, on average, suggests that sellers are very much in tune with the current market situation and know the fair market value of their home,” he said.

High Demand And Low Supply Gets Toronto Real Estate Sellers 100% Of Asking Price is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

Have you ever watched HGTV? It’s the Home and Garden network, and although I don’t watch much television, I sometimes find myself tuned in.
One of the most popular shows the network carries is called “House Hunters.” It’s about people looking to buy a home, and they visit three homes that fit their criteria, then pick one of the homes.

Simplicity is underrated.

If you’ve watched it, you probably know that it kind of keeps you watching it because you want to see what home the buyers ultimately pick. They keep you in suspense.
Another version of the show has also been on HGTV for a while now. It’s called “House Hunters International,” and it’s the same concept except that the house hunters are hunting houses in sometimes exotic locales.
My guess is that the show appeals to viewers because, just like the original show, it gives the audience the chance to see homes in other places. But instead of watching an episode that gives you a glimpse into the kinds of homes available on the other side of the country, you get to see what they’re like on the other side of the world.
In the few episodes I’ve watched of each show, I have noticed something else.
Except for the exotic locales – historic cities, beautiful beaches, great views – most of the homes on the international show are quite modest. They have small bedrooms. They have small kitchens, mostly without granite countertops or marble backsplashes. Many of them come WITH the laundry appliances in them.
Bathrooms are tiny. There don’t seem to be many huge walk-in closets. Vaulted ceilings are rare, and so are garages.
And you know what? The buyers don’t seem to mind.
A couple will walk through a 900-square-foot home and say “This is nice-sized.” They’ll look at laminate countertops in the kitchen without immediately saying that they must be replaced. You don’t very often hear that things are “dated.”
On the regular version, you hear gripes about everything. The homes are often castles compared to the ones on the international show, but buyers complain and nit-pick and moan and groan.
There’s a lesson here, I think. The contrast of these two shows – and they sometimes air back-to-back – are a good example of the excess on this side of the pond. I’m not saying that it’s wrong to pursue your dream home, I think you should, but watching the shows makes you realize how much simpler life is in other parts of the world. It seems like we are preoccupied with so much “stuff,” and it doesn’t take as much “stuff” for people of other cultures to be satisfied.
In fact, most of the places in the international version of the show come fully finished. The seller leaves their furniture, appliances – their “stuff” – for the buyers and moves onto the next home, where that seller has left their stuff. No one seems overly attached to “stuff.”
And believe me; this isn’t because of some lack of sophistication or other countries being poorer, necessarily. In fact, the price per square foot for homes in other countries is often much higher. The people on the show have good incomes. They just don’t seem to have the need to acquire so much stuff to be happy.
Again, I’m not saying you shouldn’t want to live in a great house. We all do.  But it seems as though home ownership is part of the dream in other parts of the world, too, and it seems much simpler to achieve that dream. Remember, the more it takes to make you happy, the less happy you will be. Simplicity isn’t so bad!

There’s A Home Buying Lesson In Here Somewhere is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale

Real estate is a hot topic, and, being a Toronto real estateprofessional, there seems to be no shortage of people who want to ask me one primary question.

Add it up - is buying Toronto real estate right for you, right now?

Should I buy a house?
Maybe the expectation is a one-size-fits-all answer of “Yes,” and I suppose I could point out that with low interest rates, now is a great time for anybody to buy.
But the truth is, there is no one-size-fits-all answer.
Whether it’s a first-time homebuyer, a “move-up” buyer, an investor or a second-home buyer, everybody’s situation truly is different. In many cases, yes, it’s a great move to make, but there are so many factors that make each person’s situation unique, and that’s the case more so today than ever, probably.
What’s dangerous is to assume the opposite – that it’s either a great time to buy for everybody, or that it’s not a good idea for anybody to buy. I think that with all the attention on the housing industry, however, the tendency for people is to make general assumptions.
People hear that it’s become tougher to qualify for financing and assume they can’t. People hear that it takes a larger down payment these days and assume they don’t have it. They assume they can’t sell their current house for the price they want, or assume that they’re going to have a problem with a home inspection or appraisal.
But people’s incomes and credit scores are different. Their job security is different. Markets are different, and even neighborhoods within the same market are different.
Do deals fall through because there are problems with appraisals or with financing? Yes, but maybe not as often as you think. Is buying a distressed property – a short sale or a bank-owned home, for example – sometimes a long, nerve-wracking process? Sometimes, but there are pretty smooth sales, too. Is it a pain to be landlord once you decide to buy an investment property to increase your income? It certainly doesn’t have to be.
It’s cliché, and obvious, to say “every situation is different,” and it perhaps should go without saying. But the reality is that people are making assumptions, deciding this or that without so much as talking to a professional who knows the market.
You parents, your neighbor, your co-workers – unless they are in the Toronto real estate business and around it every day – are not the people to go to for advice, as well-meaning as they may be. The news reports and economic forecasters are not the people to listen to when analyzing YOUR situation. They paint the picture with a broad brush, and markets are now as narrow as they’ve ever been.
Don’t assume the people you are talking to know what’s going to happen. Don’t play the wait-and-see game based on information you’ve heard from people outside the game. Nobody can predict with perfect accuracy what’s going to happen, but there are people in the business, in your area, who do know what’s happening now.
The point is, don’t make assumptions. Your situation truly is different than other people’s. If you have questions about your individual case, a particular home or area you’re looking at – whether it’s buying or selling – don’t hesitate to contact a Toronto real estate professional you trust.
A reputable professional will know that every situation is different, and they’ll be able to analyze yours.

Should You Buy Toronto Real Estate Right Now? is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale