I hope you had a wonderful holiday season!
We are fortunate to live in the Greater Toronto Area (GTA). Many parts of the world saw economic hardship in 2010 while the Real Estate market in the GTA gained ground once again with prices increasing and approximately 86,000 properties exchanging hands. If you would like detailed information of what is happening in your area, just send us a note.
NEW RULES TO HIT CONDO BUYERS!
The attached below is a report from the National Post, dated Jan 14, 2011 with respect to reviewing qualification of borrowers using 100% of condominium maintenance fees.
Currently, lenders utilize 50% of condominium maintenance fees.