Desmond Brown

Real Estate Agents Deemed Essential Service - We Don't Agree

27 March 2020
Desmond Brown

The provincial government has deemed real estate agents an essential service. However many of us, including the entire Desmond Brown Team, DO NOT consider real estate agents to be an essential service. We’re not first responders, medical professionals, food suppliers, or those who preserve the safety of our communities. We sell houses...

Mortgage Payment Deferrals Amidst COVID-19

24 March 2020
Desmond Brown

Our economy has been hit hard by this pandemic, leading to thousands being laid off. As a result, many of our lending institutions have offered up to six months of mortgage deferral payments to Canadians who may be facing financial hardship during these troubling times...

Smoke and mirrors in latest federal budget

10 April 2019
Desmond Brown

The anticipation leading up to the last month's federal budget announcement had me and many others on the edge of our seats. There were the leaks to the media that the federal government was going to bring in earth shattering initiatives to make home ownership more affordable for first time buyers. What would these measures be? [CLICK THE TITLE ABOVE TO KEEP READING]

TENANTS: Know Your Rights 🏙⚖️

15 January 2019
Desmond Brown

With the rental vacancy so low in Toronto, it's very difficult for people to find rental housing. Rent controls and provincial legislation have often put landlords at a disadvantage. However, regardless of the disadvantages, I'm seeing many landlords and their agents breaching the Residential Tenancies Act. Here are some demands I've seen by landlords which are NOT allowed...

How much did that house sell for? 🏡🤔

07 September 2018
Desmond Brown

If you're wondering what your neighbour's house sold for, all you have to do is this...

Downturn in the Market. Cause for Concern? 📉🤔

07 June 2018
Desmond Brown

Recent headlines have screamed prices down 12% compared to a year ago. Is this the beginning of a huge collapse in Toronto's real estate market? Has the bubble finally burst? Well, after working in the media for 11 years, I know how newsrooms work...

A traditional spring market?

10 April 2018
Desmond Brown

The headlines are saying sales in the Toronto real estate market are down by up to 35% compared to this time last year. That number looks huge, but...

INTEREST RATE INCREASE 😱📈 Should we be concerned?

05 February 2018
Desmond Brown

Two weeks ago Bank of Canada raised its prime lending rate 0.25% points. As a result, we're now seeing posted bank rates for five-year mortgages at 4.64%. Experts are predicting the Bank of Canada will raise the prime rate a few more times over the next twelve months. With the average price of a home in Toronto at $730,000, the media reported that this was the beginning of the end for home ownership in this city and that people are now in danger of losing their homes. Not true...

New Stress Test for Mortgages: WHAT DOES IT MEAN?

06 November 2017
Desmond Brown

Some of my colleagues and mortgage brokers have been freaking out since last month's announcement about the new stress test requirement for all buyers. In my opinion, this is a good thing...

The Changing GTA Real Estate Market

02 June 2017
Desmond Brown

I was presenting an offer last week on one of my listings. The offer came in from an agent representing the buyer and it contained a clause I haven't seen in the Toronto real estate market for many years - a condition on the sale of the buyer's property...