• Larose Team
  • 20 October 2017

If a home is for sale in your neighbourhood, don’t be surprised to hear some buzzing overhead. ‘Drone Video and photography have been gaining popularity as the preferred presentation method to capture buyers attention online’ says Marlene Larose of the Larose Team. “Aerial photography continues to set us apart in how we present our listings to a world-wide audience.” 

Videos filmed by drones can help buyers get a better idea of what a property feels like before they book a showing and this appeals to the emotional aspects of the homebuying process. For example, a drone can record video while flying along a twisting, wooded driveway to give buyers a feel for what the approach to the house looks like and, as a closing shot, can take off from the home’s backyard and fly over the surrounding neighbourhood to give potential buyers a better feel of the area.

In real estate, you’re not just selling homes - you are selling a lifestyle. It takes a lot of skill to maneuver a $2,000 4.4-pound machine with four spinning propeller blades and in the end hiring a professional is important. ‘We have the best drone videographers as part of our team.”

Visit vimeo.com/laroseteam and view several of our recent drone videos to decide for yourself.

  • Larose Team
  • 26 September 2017

The Greater Toronto housing market has shifted into buyers territory for the first time in 8 years and interested buyers are now being lured back as prices stabilize. The number of sales climbed in August compared to July, making it the first month over month increase since March. TREB still believes significant pent up demand is still out in the market, which should lead to sales increases.

Good properties are still selling quickly and for top dollar, while weaker properties are taking longer to find a buyer- the sign of a healthy market. Experts expect prices to level this fall and the debate is about when they will start rising again. A lot will depend on how many properties will be listed this fall and whether a glut of inventory could leave prices just where they are or possibly lower. The first week after Labor Day usually brings a spike in listings but this hasn’t really happened this year as it did last year. Single family homes in good neighbourhoods are still at a shortage.

The key change in todays market is to set the asking prices closer to what the property can reasonably expect to receive. Agents have mostly given up on the practice of setting a dramatically low asking price in order to spark competition. The GTA market is now officially in a balanced market with a sales to new listing ratio of 55%.

“The Mississauga market is healthy right now” says Kevin Larose of the Larose Real Estate Team. “The supply of resale properties isn’t as tight as it was earlier in the year with 2.6 months of supply up from .08 back in March. Back then, buyers were propelled by the fear of missing out and then later became anxious about paying too much. So far, this fall is showing signs of a healthy recovery from the summer.”

New benchmarks have been established and the market conditions have settled. The latest interest rate increase may spur sales in the short term as potential buyers decide to lock into a mortgage rate as they believe further rate increases may be coming. It should help some buyers make a decision to buy now.

  • Larose Team
  • 20 September 2017

The association representing Ontario's real estate agents is calling on the province to modify its plans to ban agents from representing both buyers and sellers in property transactions. The province is reviewing the Real Estate and Business Brokers Act and unveiled a proposal in June to prohibit the practice known as "double-ending" where agents represent both parties in deals, saying there is an inherent conflict of interest when trying to represent both sides of a transaction.

Ontario's real estate industry regulator, the Real Estate Council of Ontario (RECO), supports a ban on double-ending with limited exceptions, saying there is too much potential for conflicts of interest and improper behaviour. Current rules allow agents to act for both the same buyer and seller in a transaction, but prohibit them from revealing confidential information to either party, including details about other bids. Limited exceptions might include allowing double ending in rural areas where there are are fewer realtors. 

A CBC Marketplace report last year used hidden cameras at open houses to show six agents not only offering to represent both buyers and sellers in deals, but also appearing to breach industry rules by promising to reveal confidential information about other offers to give buyers an advantage in a bidding war.

“ I strongly believe that a buyer and seller should have representation and that there should be a strict enforcement of their fiduciary duties" says Kevin Larose of the Larose Real Estate Team. A real estate broker is held to owe specific duties to his/her client which include Loyalty, Full Disclosure, Confidentiality, Obedience, Competence and Full Accounting. "The Broker/Realtor must do everything possible to gain an advantage for the seller” says Kevin. "I see this as a disadvantage for the buyer not to mention that it has its challenges as a realtor. In saying this, there should be a way for clients in certain circumstances to use the same realtor.” 

We expect changes to come into place by the end of the year.

  • Larose Team
  • 13 September 2017

In hurricane’s wake, Keller Williams turns Mega Camp into Mega Relief

As Hurricane Harvey grew increasingly ruthless, displaced Houstonians sought shelter at Keller Williams’ Austin Convention Center, where the real estate franchisor holds its annual four-day training event, Mega Camp, scheduled to start this week.

The company swiftly changed plans: Mega Camp became Mega Relief, a week long disaster relief campaign, as KW opened up the convention center to a number of charity groups.

“As we were talking to the Convention Center representatives about the possibility evacuees would be housed there, it became clear to us that doing what we could to help those affected by the storm was more important, and we made the decision to pivot to focus on the relief effort in our backyard,” said Darrell King, Keller Williams’ COO.

The Austin-based company with 170,000 associates has turned the revenue-generating international conference into a nonprofit disaster response campaign, with the intention of raising $20 million for hurricane recovery. Through Sept. 15, attendees will be cleaning flooded homes, volunteering with nonprofits, and working with the city of Austin and local businesses to gather supplies and raise money.

More than 3,300 Keller Williams’ associates and family members have arrived this week from all over the country and overseas to join forces with the Austin Disaster Relief Network, Central Texas Food Bank and the Salvation Army and work on relief projects in stricken areas of central Texas.

Agents are being bused to volunteer sites during the day and returning to Austin for events that raise awareness and funds in the evening.

“We had the hotel rooms, we had the buses, and we had the hardest-working, most compassionate real estate agents in the world,” Keller Williams CEO John Davis said. “We decided to do the right thing and leverage the energy and generosity of our associates to make a real difference in people’s lives.”

Today the company is helping high school booster clubs in Rockport, Ingleside and Aransas Pass, towns that were devastated by the storm. Tomorrow, two concerts will be held in big Austin music venues with local musicians to help raise funds for Port Arthur/Beaumont and general Harvey and Irma relief.

Attendees go to Mega Camp annually for agent and business leader-led panel sessions and mastermind discussions focused on the latest best practices in real estate.

“We are still focusing on that, having events each evening, learning as much as we can,” King said. “We have got coaches on the buses on the road to relief places. There is going to be a lot of camaraderie coming out of this event. We are not losing sight of the fact that we are a training organization; we are putting it into every space we can.”

Some of the agent training will cover how to handle a disaster in your region, he said.

“We are using the opportunity to train our regions in how to respond to these (disasters),” King added. “At a training event the other day, we told them about the systems and processes for them to be effective in these situations.”

The company said that its charitable 501(c)(3) organization, KW Cares, has already sent more than 3,000 volunteers into the Houston and Beaumont areas to rip out drywall and clean more than 200 homes.

Additionally, KW Cares has sent more than a dozen 18-wheelers filled with supplies to areas affected by Harvey along with a fleet of trucks loaded with essentials to various parts of Florida to support with the Irma recovery.

Please help support the cause by donating to support emergency grants, equipment and supplies to rebuild those affected by the storm. To donate go to kwrelief.org

SOURCE: https://www.inman.com

  • Larose Team
  • 29 August 2017

The overall housing results in Mississauga have been mixed - unit sales were down 40% while average prices continue their upward climb finishing at +13.6% year over year. Sales to list came in at 97% to last years multiple offer frenzy of +102%. Days on the market averaged 21- still an above average pace. Despite the cooling- the housing market still seems to be favouring sellers.

With reference to the new Ontario’s Fair Housing Plan, a recent study released from the Ontario government found that foreign buyers have represented a small proportion of overall home buying activity in the GTA. Clearly, the year-over-year decline we experienced in July seems to have more to do with psychology, with would-be home buyers on the sidelines waiting to see how market conditions evolve.

While the Fair Housing plan has contributed to a slow down in the GTA’S red hot housing market, most predict the cooling won’t last long. Despite a surge in listings in recent months, overall inventory still remains at reasonable levels. As there are still many buyers looking to purchase, the market is likely to continue to favour sellers as we move into the fall market. The recent .025% interest rate hike won’t likely deter buyers either as it is a positive economic signal from the Bank of Canada.

Condos Stats - The summer housing market in the GTA may be experiencing a slight cool down, as is normal for this type of season, the condo market is surging despite low inventory. This lack of supply is a key factor in price trends, while the real estate market statistics appear to be finally calming, the condominium demand is still prominent and is outpacing the supply, and the overall average price of condos continues to grow on a year-over-year basis.

There were 211 condominium sales through the month of July compared to 326 the previous year.The average sale price in July 2017 was $389,811 compared to $315,682 in June of last year. Many attribute the strength of the condo market due to their affordability, especially for first-time homebuyers. The average days on market were 20 days, compared to 23 on market in June 2017. The average sale price to list price was 99%, the same amount as last year.

Stats: Toronto Real Estate Board

  • Larose Team
  • 24 August 2017

In 2011, Marlene and I put together a group of several of the top real estate professionals in the GTA to meet regularly and share ideas on how to better service our clients. These are 13 of the top realtors in our industry representing all real estate brokerages covering the GTA from Burlington to Oshawa all the way north to Barrie.

This group fosters leadership in client service, develops new tools and business practices, and champions innovation and awareness in our competitive field of real estate sales.

In the 6 years we as a group have been together and moving forward we continue to share our experiences. What are the best practices in the current and ever changing real estate market that we need in our business, keeping the ONE thing in mind – our clients. From the systems we are using to guarantee the high level of service, unique value that separates our brand from the rest – market/advertising ideas and practices that expose our properties to the world with the promise of a solid return for our clients. Associating with like minded high people that think outside the box....my clients will always benefit. 

Looking back, being around the best in the industry on a consistent basis has challenged us at the Larose Real Estate team to be better everyday. Better at marketing our properties, servicing our clients and constantly find new ways to achieve the best results for you.

We have decided as a group, to share our insights with you applying our combined 250+ years of experience in the field. Here is a preview of many videos to come- we look forward to sharing more with you in the near future!

Have questions for the group? Email us at info@laroseteam.com

  • Larose Team
  • 18 August 2017

Every time there is an announcement about an incoming new townhouse development, people in the area may complain but very rarely would a development get turned down outright. Although there might be minor changes and revisions in order to quell people’s discontent, something eventually gets built on the land in question, and life goes on.


Dunsire Developments, the company behind a set of luxurious townhouses (see above picture) has decided to pull the plug on their development projects in Lakeview on 1041 and 1407 Lakeshore Road East. According to Ward 1 Councillor Jim Tovey, the development company sent out an email this past week citing various reasons as to why they decided to cancel the project.

Insauga reached out to two representatives from Dunsire for a comment asking them to confirm this, but they have not responded as of this writing. While Councillor Tovey was not able to forward us the email he received because of the regulations of the Privacy Act, he did call insauga to provide some comments.

It appears Dunsire lost their financing, and whoever owns the property is going to have to resell the land. That is actually quite interesting to hear, because if you check the home warranty protection website Tarion, there were no claims filed and no financial issues were being listed.


While Tovey said the existing residents in the area didn’t have much to worry about, since they’re already quite comfortably settled in, he said the people who were planning to move in literally have had their dreams of home ownership shattered. Here you had people who put in their down payments with interest for the next three years, and now they have to start the process all over again, although Dunsire did tell Tovey that everyone would be refunded their full deposits.

Tovey also opined that it was a bit of a gamble in this real estate market because provincial legislation allows developers to sell units before they get approved. Mississauga doesn’t issue developers the building permits until they get the municipal permits approved, and while that is somewhat a long process, one has to legally get that done right.

What happens if they don’t get those permits and time runs out? You get Dunsire, and now the people who paid into dreams of a new home will have to start this convoluted process all over again. It’s unfortunate, but this is just an example of the risks of entering into the rat race that is the current real estate market, and these are the challenges that a burgeoning municipality that is becoming a big urban city will face.


Source: Insauga


  • Larose Team
  • 18 August 2017

Our home of the week is a spectacular 4 bedroom lakeside executive home moments to Port Credit Village.

This immaculate private retreat, situated on a professionally landscaped lot, boasts stunning views of Lake Ontario, marble and hardwood flooring, crown moulding, skylights, wood-burning fireplaces, and an abundance of windows letting in lots of natural light. Enjoy an eat-in kitchen overlooking the water, a spacious master bedroom with a 5 piece ensuite, and a finished lower level with a theatre area and recreational space. This exceptional home boasts multiple walkouts to the scenic backyard patio, the perfect place to feel the breeze from the water and spend sunlit afternoons.

Visit our open house tour this weekend, August 19 & 20, 1-4pm
For the complete details of the listing click here

  • Larose Team
  • 28 July 2017

Mississauga, ON - The June Mississauga housing market stats are following the slow-down trend in the GTA as the number of unit sales decreased by 62% from 2016. On the positive side, the average sales price in June increased by 5% year over year for all property types in Mississauga. “The number of new listings continues to climb as home owners are listing their properties because they feel price growth may have peaked” says Kevin Larose of the Larose Real Estate Team. “What we are seeing now is a more balanced market with better supply for buyers which is moderating the price increases’ says Kevin. We are keeping an eye on interest rate changes and sales -to-new-listings ratios which are shifting as more listings come on the market. Also noteworthy- The Bank of Canada recently raised interest rates by 25 basis points on fixed mortgage rates. This was the first rate increase in 7 years.

The year-over-year dip in home sales we have experienced in the GTA over the past two months seems to be the result of would-be buyers putting their decision to purchase temporarily on hold while they monitor the impact of the Fair Housing Plan. ‘We are starting to see buyers get back into the market, because if you are not a foreign buyer, you aren’t affected by these changes-but by what you are reading.” We have many buyers looking to
purchase before the start of the school season. There is still a high demand for good homes in good areas.”

Toronto consistently ranks as one of the top cities in the world to live, so it’s no surprise there is such a demand for real estate here. There are more people moving to the city every year, and this number will continue to increase. Unless there are more rule changes made in the future- or interest rates increase rapidly, the Toronto housing market is just taking a brief pause before prices and activity continue to climb.
Have questions or comments? Email us at info@laroseteam.com

  • Larose Team
  • 17 July 2017

The Bank of Canada has increased its benchmark interest rate for the first time since 2010, a sign that the economy is improving enough to allow borrowing costs to rise from historic lows reached in the aftermath of the global financial crisis.

The overnight lending rate was raised to 0.75 per cent from 0.5 per cent, where it had been locked for two years as the country adjusted to the challenge that low oil prices posed for an already sluggish economy. Many economists expect the central bank to hike again this year.

When the Bank of Canada changes its benchmark rate, the move ripples through to other interest rates, including those of mortgages. With that in mind, here is a guide to how the rate hike will affect homeowners and prospective buyers.

Homeowners with fixed-rate mortgages

There is no immediate impact on payments for existing mortgages. Only when the mortgage comes up for renewal would higher rates affect payments.

The interest rate on fixed-rate mortgages is influenced by the interest rates on bonds issued by the federal government, not the Bank of Canada’s overnight rate.

But if the central bank is confident enough about the economy to start pushing the overnight rate higher, expect interest rates in the bond market to rise as well. This explains how an increase in the overnight rate can indirectly affect fixed-rate mortgages.

Homeowners with variable-rate mortgages

The interest cost on variable-rate mortgages is pegged to your lender’s prime rate, minus whatever discount you negotiated. The prime rate is in turn guided by the Bank of Canada’s benchmark overnight rate. Payments on most variable-rate mortgages will be adjusted higher in a matter of days or weeks to reflect an increase in the overnight and prime rates. (Canada’s Big Five banks raised their prime rates to 2.95 per cent, effective Thursday, following the central bank’s move.)

With some variable-rate mortgages, payments remain the same for the duration of the term. But there are adjustments going on in the background. As rates rise, more of your payment goes toward paying interest and less goes toward the principal. This will increase the amount of time it takes to pay off your mortgage unless you increase payments on renewal.

Borrowers tend to use the term “variable-rate mortgage” to describe all mortgages where rates can fluctuate during the term of the loan. However, lenders use the term “adjustable-rate mortgage” to describe mortgages where payments are reset according to changes in the lender’s prime rate. Variable-rate mortgages technically apply to those where the mix of principal and interest changes, but not the amount of the payment.

One final note: Toronto-Dominion Bank is an example of a lender that has a “mortgage prime rate,” a unique in-house rate used for pricing variable-rate mortgages. TD’s mortgage prime has been higher than its conventional prime rate. After the central bank’s hike, TD raised its mortgage prime rate by 0.25 of a percentage point to 3.1 per cent.

Prospective buyers

It could become tougher to qualify for home ownership.

Federal rules unveiled last fall require home buyers with a down payment of less than 20 per cent to “stress test” their ability to carry mortgage payments at whichever is greater: the negotiated rate in their mortgage contract or the Bank of Canada’s conventional five-year fixed posted rate.

The central bank’s rate is based on posted five-year fixed mortgage rates at Canada’s largest banks, and was most recently set at 4.64 per cent. That’s roughly two percentage points higher than many discount rates on the market.

When the Bank of Canada’s posted rate starts climbing, some home buyers will be “stress tested” at a higher rate. Joining the homeowner’s club will have a higher barrier of entry.

Even before the rate hike, the mortgage market was changing. In early July, Royal Bank of Canada raised rates by 0.2 of a percentage point for some of its fixed-rate mortgages as bond yields moved higher. Other major banks followed with their own rate increases.

The outlook

Financial markets at mid-year expected the Bank of Canada to increase the overnight rate by a total 0.5 of a percentage point in 2017, which suggests one more increase of 0.25 of a point before year’s end. This would hypothetically take the prime rate at major lenders to 3.2 per cent from 2.7 per cent before the latest rate hike. Increases in the cost of fixed-rate mortgages will depend on how high rates for federal government bonds climb.

How can the Larose Team help?

Let us connect you with our preferred lending partners to review any financial questions or concerns. Based on your real estate needs, we can discuss how this increase may affect you as a homeowner looking to buy or sell. Contact us today 905.278.7355


SOURCE: The Globe and Mail -  http://ow.ly/xJZ530dHk9Y