Its a good time to buy income/rental properties!

by | Jan 23, 2017 | Buyer Guide, Uncategorized | 0 comments

The Real Estate Market in London Ontario in 2017 is proving to be a sellers market already. The number of listings on the market now compared to this time last year is down. The Canadian Real Estate Association has released a report that explains the current market in more detail. Many buyers are finding it difficult to find a home due to high pricing, competitive markets and an over all shortage of listings. Instead of buying a home, many people are forced to stay where they are and further adding to the shortage of listing. When the demand for listings is so high, it forces the average home owner to look in other areas other than re-sale properties. Many choose to build new and this becomes a booming time for builders and developers. The income/rental market can also be very lucrative at a time like this. With first time homebuyers finding it increasingly harder to find their first property, they will look to find an upgraded rental as their next best option. Having a good money making income property thats well maintained and attractive to renters, may be one of the best investments to make in 2017. Rick Pinheiro – Broker of Record Pinheiro Realty Ltd. Here are some income properties currently listed in London, Ontario Income Properties Page1 &  Income Properties Page2  ...

Costs Involved in Buying a Home

by | Dec 6, 2016 | Buyer Guide | 0 comments

Costs Associated with Buying a home.   Appraisal Fee:  The appraisal fee is normally the responsibility of the borrower and is for the purpose of lender’s appraisal of the property to determine current market value.  The costs may range from $100-$250 plus HST. Your bank will advise you and or incorporate into mortgage.   Home Inspection Fee:  A home inspection is something any prudent home buyer will do when buying a property (with the exception of new homes).  Home Inspection is a benefit to the buyer and is therefore a cost that is assumed by them.  It can range from $350-$650 plus HST depending on the size and type of home.   H.S.T:  If your mortgage is CMHC insured there is 13% HST payable on closing on the CMHC fee.  While the CMHC fee may be added to the sum of the money borrowed the HST must be paid upon closing.   Survey Fee or Title Insurance:  Some lenders may require a recent survey of the property, If one is not available, the cost to have a new survey is normally between $700-$1,100 dollars.  In lieu of a survey, Title Insurance is now recommended and in some cases only requirement acceptable from some lenders. Most Lawyers have now packaged the Title Insurance into the other required disbursement charges.   Legal Costs:  A Lawyer will charge a fee for their professional services involved in drafting the title deed, preparing the mortgage, and conducting the various searches.  The disbursements on the other hand, ie; out-of-pocket expenses incurred, such as registrations, searches, supplies, plus H.S.T on these services. You should Cost approximately...

House Hunters: Better Leave Some Time For The Hunt

by | Dec 1, 2016 | Buyer Guide | 0 comments

Here’s an article that was written in Forbes regarding the time spent by buyers, looking for a home. I think this is also accurate for  the current Real Estate Market in London, Ontario   Rick Pinheiro – Broker Pinheiro Realty Brokerage rick@pinheirorealty.ca #londonontariohomesforsale, #londonontario, #firsttimehomebuyers, #londonrealestate, #londonontariohomesforrent, #londonontariolistings link to Forbes Article – http://www.forbes.com/sites/kateashford/2016/10/31/house-hunters/#6be301bc2476...