Toma Sojonky
#200 - 100 Park Royal South V7T 1A2 West Vancouver, BC, Canada

THE REAL ESTATE THAT SEEMS EXPENSIVE NOW, SEEMED EXPENSIVE THEN. I’m no psychologist, but so many cognitive biases seem to crop up when it comes to buying, owning and selling real estate over timeespecially our own home. When a young friend of mine bought an apartment condo in Squamish five years ago for $309,000 some people thought he was crazy. Until someone crazier bought it off him two years later for $557,000. And instead of seeking therapy, he turned around and moved u...Continue reading

BC Home values = HIGH. Interest rates = LOW. Hmmm. Let's position you for emergencies and opportunities. https://go.oncehub.com/tsmortgage

Bizarre days on the stock market

A heads up! Things are incredibly busy in mortgage-land. I am AOK. My assistants Dianne and Vera are sorceresses, I’m grateful for them. The reason I’m writing islenders. Right now, they are inundated. ... An approval that used to take me 4 hours, can currently take 4 or more days. This is even if you’ve already been pre-approved. I have heard certain lenders are even busier. We have historically low rates, and pent-up demand from a Spring housing market that stood still. Many are scrambling to buy, renew, refinance. So on behalf of my industry peers, I’m asking BC homebuyers and Realtors to please bear with us as we surf this tidal wave out. Spread the word, and manage expectations all around. Write offers having a subject-to-financing period that is longer than normal; I won’t hesitate to write you an accompanying letter as to why. If you’re listing a property for sale, please be prepared for the possibility of your buyers asking for financing-subject extensions in order to keep themselves protected during these delays. Thank you for your understanding; keep in mind that if you are re-buying with a mortgage involved (including a port), you may soon be in the same situation. Believe me, lender employees are burning the midnight oil to get you approved. Applications are prioritized by types and dates. Many lenders are on August hiring sprees for mortgage processing staff. This has splashed over into other areas of the home-buying and financing process. Lawyers, notaries and appraisers are slammed. Reach out to these reps well in advance, to ensure they are able to help. Things will eventually subside. I’ll still be here cracking the whip and keeping you up to date on your approval in real time. Again please spread the word! In the meantime, stay safe, happy home-hunting, and enjoy the sun.

REALTORS and HOMEOWNERS: A new plan for APPRAISALS this morning, given the COVID-19 situation.

YOUR HELOC - inform yourself during unprecedented times

Relief offered by several Canadian mortgage lenders. If you are in distress, reach out to your lender to discuss your situation.

The $100,000 Experiment

2.19% for a 5-year fixed closed. - High ratio insured purchase - Insurable purchase less than 65% LTV... - Insured Switches/Transfers (mortgage must be currently insured to be eligible) - Limited time special.

If the idea of investing in a rental property spooks you because there may be a cashflow shortfall, consider this: how much of your income and savings have you been diverting every year into your RRSP?

What's involved in RENEWING or PORTING my existing mortgage?

Variable-rate mortgage and HELOC people - save the dates! These are the actual 2020 dates on which the Bank of Canada may change its key lending rate, which in turn would cause a change in your lender's Prime rate...and thus, YOUR rate/payment. Wednesday, January 22... Wednesday, March 4 Wednesday, April 15 Wednesday, June 3 Wednesday, July 15 Wednesday, September 9 Wednesday, October 28 Wednesday, December 9 See more

Not me I promise

First Time Homebuyer Incentive may be increased from $480,000 nationwide, to $789,000 in Vancouver and Toronto.

Homeowners: Here's a little TIPP for taking the sting out of your property taxes next summer.

A business peer shared a funny story. She took a mortgage application for a young couple new to Canada and when they finished, the husband asked, "when do we have to go for the evaluation?" "What evaluation?" The psychological test." ... I think they call it something for stress," added the wife. My colleague laughed, told them they already passed, and proceeded to explain.