Fran Lee, Broker
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Your Trusted Advisor in Real Estate

Ontario, Canada



 

Nothing Great Is Ever Achieved Without Enthusiasm !


 
 

 

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Fran Lee

8901 Woodbine Avenue Unit 224
Markham, Ontario, L3R 9Y4
Canada

Your Trusted Advisor in Real Estate


Welcome to my web site, your source of Toronto real estate,


 

Dear Friends,

In today's competitive real estate market, timing is everything.  Many good homes are sold before they are ever advertised. 

If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation.

Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction.

In addition, if you have any general questions about buying or selling real estate in Ontario, please contact me as I'm more than willing to help.

I don't have a PhD degree in rocket science, but I am constantly upgrading my knowledge and expertise in real estate related disciplines and languages to serve you better:

- Licensed under the "Sales Representative" category by the Real Estate Council of Ontario http://www.reco.on.ca in 1999, and licensed under the "Broker" category since 2001 

- Recipient of RE/MAX www.remax.ca Hall of Fame Award in 2010

- Recipient of RE/MAX www.remax.ca 100% Club Awards (2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2015,2016).

- Feature Agent on "Profiles of Success" Toronto East Edition 2008.

- Joined RE/MAX Crossroads Realty Inc. in December 2008, switched to Realty Associates Inc., an affiliate of RE/MAX Crossroads Realty Inc. in October 2017.

- M ember of the Chartered Institute of Linguists designation with Diploma in Translation from English into Chinese awarded by the Chartered Institute of Linguists http://iol.org.uk

Please browse my website for listings, reports and important local real estate information.

Sincerely,

 

Fran Lee

Broker,

Realty Associates Inc.

MCIL

Cell.   416-917-6787

Office 416-293-1100

Email  franleemail@gmail.com 


Real Estate Information


Province to Introduce Paid COVID-19 Leave

29 April 2021

The provincial government is introducing legislation that, if passed, would require employers to provide employees with up to $200 of pay per day for up to three days if they are missing work because of COVID-19. This program will be retroactive to April 19, 2021, and effective until September 25, 2021.

The province will partner with the Workplace Safety and Insurance Board to deliver the program and reimburse employers up to $200 per day for each employee.

This paid leave is applicable to employees, not independent contractors.

The province has also offered to provide funding to the federal government to double the Canada Recovery Sickness Benefit (CRSB) payments to Ontario residents, adding an additional $500 per week to eligible individuals for a total of $1,000 per week.

Toronto Real Estate Board

 


Market Update


GTA REALTORS Release March 2021 Stats

6 April 2021: For the third straight month of 2021, record home sales continued in March across the Greater Toronto Area (GTA) with buyers taking advantage of favourable borrowing costs and continued improvement in many sectors of the economy.

GTA REALTORS reported 15,652 sales in March 2021 – close to double that of March 2020. While sales were strong, it is important to remember that for the second half of March we are comparing against the initial impact of COVID-19 in the second half of March 2020 when sales activity dropped off dramatically. With this in mind, it is important to consider annual sales growth for the pre-COVID period (March 1 to 14, 2020) and COVID period (March 15 to 31, 2020):

- There were 6,504 sales reported during the first 14 days of March 2021 - up 41 per cent compared to the pre- COVID period in March 2020.

- There were 9,148 sales reported between March 15th and March 31st 2021, an increase of 174 per cent compared to the COVID period of March 2020. This is a stark reminder of the initial impact COVID-19 had on the housing market and overall economy a year ago.

For March 2021 as a whole, new listings were up 57 per cent year-over-year to 22,709. While representing a strong year-over-year increase, the annual growth rate for new listings was well-below that of sales.

The MLS Home Price Index Composite Benchmark for March 2021 was up by 16.5 per cent compared to March 2020. The average selling price, at $1,097,565 was up by 21.6 per cent over the same period. Following the recent trend, low-rise home sales in regions surrounding the City of Toronto drove price growth.

 

- Toronto Real Estate Board

 


Mortgage Rates Update


3 May 2021 

 

TERM          POSTED BEST 
1 Year  2.79% 1.84%
2 Years 2.94% 1.54%
3 Years 3.49% 1.54%
4 Years 3.74% 1.84%
5 Years 4.59% 2.09%
7 Years 5.35% 2.84%
10 Years 5.60% 3.24%
Variable 2.45% 1.45%
Prime Rate   2.45%  
Benchmark    

*Rates are provided by Dominion Lending Centres and are subject to change without notice. 

 


Mortgage Calculators


 

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

The mortgage calculator below will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %
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