REAL ESTATE WITHOUT THE NOISE

Closing costs in Ontario run between 1.5% and 4% of the purchase price, and every dollar is due in cash on closing day.

On a $750,000 home, that is roughly $11,000 to $30,000 on top of your down payment.

In this episode of Real Estate Without The Noise, Evelyn Lopes, Ruth Ballantyne and Sandy Casella sit down with licensed mortgage broker Monica Falco of M2 Mortgage Team and Capital Home Lending.

You will hear how the statement of adjustments works, why lawyer quotes can look so different, and why the tax on mortgage default insurance counts as a closing cost.

They also cover new build closing costs, extra inspections on country properties in Caledon and the NW GTA, and the 1.5% lender requirement.

Key takeaways:

Closing costs are real, they are due in cash, and they cannot be added to your mortgage.

Find your numbers before you fall in love with a house.

Build your team early: a realtor, a mortgage broker and a lawyer.

Listen on Spotify, Apple Podcasts or YouTube.

Know your number before you make an offer, and send this episode to someone who is house hunting right now.

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0:00 The most dangerous number in your home purchase

1:00 Meet Monica Falco, mortgage broker

2:00 Why buyers forget closing costs

3:30 The costs that catch buyers off guard

5:20 New condos and the 10 day cooling off period

6:00 The tax on mortgage default insurance

7:10 When to talk about closing costs with buyers

8:45 You cannot finance closing costs

9:30 The statement of adjustments, explained

12:15 Country homes and extra inspections

13:15 How to calculate closing costs before you offer

14:30 The 1.5% lender requirement

15:50 Why your team matters

17:30 Has a deal ever fallen apart over closing costs

18:40 Pre-construction and new build costs

19:45 The grading deposit you can get back

21:00 How buyers adjust when the number is a shock

22:00 Banks versus brokers

24:00 Three things to remember

25:00 Thank you and where to find the show

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CONNECT WITH REAL ESTATE WITHOUT THE NOISE 

Evelyn Lopes, RE/MAX Realty Services Inc. | Caledon, Orangeville, Erin, Guelph, NW GTA | [email protected] | 905-965-5902

Ruth Ballantyne, RE/MAX Realty Services Inc. | Brampton and surrounding areas | [email protected] | 416-779-8732 

Sandy Casella, eXp Realty | Etobicoke, Hamilton, Burlington, Oakville, GTA West | [email protected] | 416-467-8627 

Our guest:
Monica Falco, Founder, M2 Mortgage Team | Principal Broker, Capital Home Lending #12347 | 647-204-8621 | [email protected] | www.m2mortgageteam.ca | Instagram: m2.mortgageteam 

Show email: [email protected] 

Listen and watch: YouTube: youtube.com/@realestatewithoutthenoise
 

Disclaimer

The content shared on Real Estate Without the Noise is intended for informational and educational purposes only.

The views and opinions expressed by Ruth Ballantyne, Sandy Casella, and Evelyn Lopes are their own and do not represent the positions of RE/MAX Realty Services Inc., eXp Realty, or any affiliated brokerage or organization.

Nothing discussed on this podcast constitutes legal, financial, mortgage, or investment advice. Real estate markets vary by location and change over time. Listeners are encouraged to conduct their own research and consult with a qualified professional before making any real estate or financial decisions.

Market data, statistics, and information referenced in episodes are believed to be accurate at the time of recording but may not reflect current market conditions.

Past performance of the real estate market is not a guarantee of future results.

Real Estate Without the Noise is produced independently. Any reference to third party products, services, or organizations does not constitute an endorsement.

Always work with a licensed real estate professional in your area who understands your local market and your personal circumstances.

The Real Estate Cycle: How to Spot the Recovery Before Everyone Else, with David So

Understanding the real estate cycle can help you buy, sell or refinance with more confidence and less fear.

Mortgage broker David So has watched the GTA housing market rise and fall since 1989.

He joins Evelyn, Ruth and Sandy to walk through the four phases of the cycle and the signals that show where the market is heading.

Prices in the GTA are down about 20% from the peak.

That peak came after back-to-back jumps of 18%, 28% and 31%.

David believes we're now moving into the recovery phase, where supply tightens, new building slows and smart buyers start looking for value.

The hosts agree, and they're seeing multiple offers come back on homes that are priced right.

In this episode

• The four phases of the real estate cycle and the signs of each one
• Why the market doesn't flip from recession to recovery overnight
• How leverage works when your home value compounds on 100% of the price
• David's why, how, when, where and what approach to buying a home
• Mortgage qualifying today, CMHC insurance and alternative lenders
• How parents are gifting down payments, and the tax benefits for kids

Listen on Spotify, Apple Podcasts and YouTube.

If this episode helped you, follow the show and share it with someone thinking about their next move.

Connect with Your Hosts

Evelyn Lopes | RE/MAX Realty Services Inc. | Caledon, Orangeville, Erin, Guelph and NW GTA

[email protected] | 905-965-5902

Ruth Ballantyne | RE/MAX Realty Services Inc. | Brampton and surrounding areas

[email protected] | 416-779-8732

Sandy Casella | eXp Realty | Etobicoke, Hamilton, Burlington, Oakville and GTA West

[email protected] | 416-467-8627

Show contact: [email protected]

About Our Guest: David So

Since 1989, David So and Canadian National Mortgage Corporation, operating as The Mortgage Centre, have helped thousands of families across Ontario's Golden Horseshoe and GTA buy, refinance, and move forward with clarity.

Contact David So

David So

Your Mortgage Broker ... for life

"Your best interests. Our tailored solution. Lasting Trust."

Canadian National Mortgage Corporation, o/a The Mortgage Centre

Licensed as Broker since 1989

Financial Services Regulatory Authority of Ontario, FSRA license #10223

301-1550 South Gateway Road, Mississauga, ON L4W 5G6

Phone/Text: (416) 410-6663, ext. 31 | (416) 410-MONEY

Email: [email protected] | [email protected]

Web: davidso.ca

Book an appointment online: https://form.jotform.com/260956510219255

FREE Mobile Mortgage Calculator: https://www.mccapp.ca/app/mccdavid-so?lang=en

EP.11.16

Disclaimer

The content shared on Real Estate Without the Noise is intended for informational and educational purposes only.

The views and opinions expressed by Ruth Ballantyne, Sandy Casella, and Evelyn Lopes are their own and do not represent the positions of RE/MAX Realty Services Inc., eXp Realty, or any affiliated brokerage or organization.

Nothing discussed on this podcast constitutes legal, financial, mortgage, or investment advice. Real estate markets vary by location and change over time. Listeners are encouraged to conduct their own research and consult with a qualified professional before making any real estate or financial decisions.

Market data, statistics, and information referenced in episodes are believed to be accurate at the time of recording but may not reflect current market conditions.

Past performance of the real estate market is not a guarantee of future results.

Real Estate Without the Noise is produced independently. Any reference to third party products, services, or organizations does not constitute an endorsement.

Always work with a licensed real estate professional in your area who understands your local market and your personal circumstances.

Most sellers focus on the day the house hits the market. The real work happens before that, in the weeks nobody sees. In this episode of Real Estate Without The Noise, Evelyn Lopes, Ruth Ballantyne, and Sandy Casella walk through what actually moves buyers before a house is ever listed. They cover the five senses test buyers run without realizing it, why smell is the one thing sellers can never judge in their own home, and how curb appeal buys or costs you a buyer before the front door even opens. They also get honest about renovations. Paint is the best return you will ever get. A brand new kitchen, almost never. And they tackle the biggest pricing myth in the business: that you should always leave room to negotiate. The truth is the opposite.

Connect with the hosts:

●        Evelyn Lopes, RE/MAX Realty Services Inc. — [email protected] — 905-965-5902

●        Ruth Ballantyne, RE/MAX Realty Services Inc. — [email protected] — 416-779-8732

●        Sandy Casella, eXp Realty — [email protected] — 416-467-8627

Show contact: [email protected]

●        0:00 Cold open: what's costing sellers the sale before it even starts

●        1:20 The five senses test buyers run without realizing it

●        6:45 The smell problem no seller can judge for themselves

●        12:10 Curb appeal and the first ninety seconds

●        18:30 Renovating for return versus renovating for ego

●        24:15 Flooring, ceilings, and the mistakes that break a house's flow

●        28:00 Access and showings: the flexibility that actually sells houses

●        31:40 Why overpricing costs you the first two weeks, and why that matters most

●        35:10 Before we go: one insight, one warning, one mindset shift from each host

Disclaimer

The content shared on Real Estate Without the Noise is intended for informational and educational purposes only.

The views and opinions expressed by Ruth Ballantyne, Sandy Casella, and Evelyn Lopes are their own and do not represent the positions of RE/MAX Realty Services Inc., eXp Realty, or any affiliated brokerage or organization.

Nothing discussed on this podcast constitutes legal, financial, mortgage, or investment advice. Real estate markets vary by location and change over time. Listeners are encouraged to conduct their own research and consult with a qualified professional before making any real estate or financial decisions.

Market data, statistics, and information referenced in episodes are believed to be accurate at the time of recording but may not reflect current market conditions.

Past performance of the real estate market is not a guarantee of future results.

Real Estate Without the Noise is produced independently. Any reference to third party products, services, or organizations does not constitute an endorsement.

Always work with a licensed real estate professional in your area who understands your local market and your personal circumstances.

Three realtors. Over a hundred years of combined experience. And not one client who's ever called back regretting a purchase. In this episode, Evelyn Lopes, Ruth Ballantyne, and Sandy Casella sit down to talk about why buying and selling a home is emotional, not logical, and why that's actually a good thing. They dig into why people move, using a simple technique of asking why again and again until the real reason shows up. They talk about the difference between buyer excitement and seller grief, why win-win negotiating protects you long after closing day, and why more online listings haven't made house hunting any easier. There's a personal story about renovating a home after a divorce, a client who took six months to sell her late mother's house, and the moment a door opens and you just know. If you've ever wondered why a house you didn't plan on buying ended up being the one, or why waiting for the "right time" rarely works out, this conversation is for you.

Disclaimer

The content shared on Real Estate Without the Noise is intended for informational and educational purposes only.

The views and opinions expressed by Ruth Ballantyne, Sandy Casella, and Evelyn Lopes are their own and do not represent the positions of RE/MAX Realty Services Inc., eXp Realty, or any affiliated brokerage or organization.

Nothing discussed on this podcast constitutes legal, financial, mortgage, or investment advice. Real estate markets vary by location and change over time. Listeners are encouraged to conduct their own research and consult with a qualified professional before making any real estate or financial decisions.

Market data, statistics, and information referenced in episodes are believed to be accurate at the time of recording but may not reflect current market conditions.

Past performance of the real estate market is not a guarantee of future results.

Real Estate Without the Noise is produced independently. Any reference to third party products, services, or organizations does not constitute an endorsement.

Always work with a licensed real estate professional in your area who understands your local market and your personal circumstances.

Power of sale is showing up more often across the GTA, and there's a lot of misinformation floating around about what it actually means. In this episode, Evelyn, Ruth, and Sandy sit down with mortgage broker Michelle Brienza from Mortgage Alliance to clear things up. First, the difference between power of sale and foreclosure, because these two words get used interchangeably and they're not the same thing. In Ontario, the bank sells the home, but the original owner keeps any money left over once the mortgage is paid off. Next, prevention. What buyers can do from day one to avoid ever landing here, and why the timing of a phone call to your lender can completely change the outcome once life throws a curveball. Finally, the buyer's side. What a power of sale really offers, the appliances that can disappear before closing, the redemption rights that can kill a deal at the last minute, and the HST clause that catches almost everyone off guard. If you're a homeowner worried about your mortgage, or a buyer eyeing a power of sale listing, this episode is for you.

CONNECT WITH OUR GUEST:

Disclaimer

The content shared on Real Estate Without the Noise is intended for informational and educational purposes only.

The views and opinions expressed by Ruth Ballantyne, Sandy Casella, and Evelyn Lopes are their own and do not represent the positions of RE/MAX Realty Services Inc., eXp Realty, or any affiliated brokerage or organization.

Nothing discussed on this podcast constitutes legal, financial, mortgage, or investment advice. Real estate markets vary by location and change over time. Listeners are encouraged to conduct their own research and consult with a qualified professional before making any real estate or financial decisions.

Market data, statistics, and information referenced in episodes are believed to be accurate at the time of recording but may not reflect current market conditions.

Past performance of the real estate market is not a guarantee of future results.

Real Estate Without the Noise is produced independently. Any reference to third party products, services, or organizations does not constitute an endorsement.

Always work with a licensed real estate professional in your area who understands your local market and your personal circumstances.

There are now two rebates stacking on new builds in Ontario, worth up to $130,000 combined, and one of them isn't just for first-time buyers anymore. In this episode of Real Estate Without The Noise, Evelyn Lopes, Ruth Ballantyne, and Sandy Casella break down the federal GST rebate and Ontario's new temporary HST rebate: who qualifies, how the math actually works, and why one of these rebates has a deadline that's closer than most buyers realize.  They walk through a real example, a $900,000 new build, and show what changes once both rebates are applied. They also get into the part nobody talks about: some builders price the savings right into the sticker price, so the deal on paper isn't always the deal in your pocket.  If you've been sitting on the fence about buying new, or you're helping a client, a parent, or a friend figure out if now is actually the time, this conversation gives you the real numbers and the real questions to ask before you sign anything.  New builds only. Two rebates. And a window on the bigger one that closes March 31, 2027.

Disclaimer

The content shared on Real Estate Without the Noise is intended for informational and educational purposes only.

The views and opinions expressed by Ruth Ballantyne, Sandy Casella, and Evelyn Lopes are their own and do not represent the positions of RE/MAX Realty Services Inc., eXp Realty, or any affiliated brokerage or organization.

Nothing discussed on this podcast constitutes legal, financial, mortgage, or investment advice. Real estate markets vary by location and change over time. Listeners are encouraged to conduct their own research and consult with a qualified professional before making any real estate or financial decisions.

Market data, statistics, and information referenced in episodes are believed to be accurate at the time of recording but may not reflect current market conditions.

Past performance of the real estate market is not a guarantee of future results.

Real Estate Without the Noise is produced independently. Any reference to third party products, services, or organizations does not constitute an endorsement.

Always work with a licensed real estate professional in your area who understands your local market and your personal circumstances.

There's a rebate right now that could bring a million-dollar new build down to roughly $870,000. In this episode, Evelyn, Ruth, and Sandy unpack the federal GST rebate and the proposed Ontario HST rebate on new construction homes, why this rebate isn't only for first-time buyers, and the one-year window it applies to.

They also cover the messier side of today's market: multiple offer strategy, underpriced listings, and why new build pricing and resale pricing rarely compare fairly.

If you're considering a new build this year, listen before you sign anything.

Have a question about this episode, or wondering what this rebate could mean for your own plans? Reach out directly, any of us would love to hear from you.

Evelyn Lopes | RE/MAX Realty Services Inc. | [email protected] | 905-965-5902

Ruth Ballantyne | RE/MAX Realty Services Inc. | [email protected] | 416-779-8732

Sandy Casella | eXp Realty | [email protected] | 416-467-8627

Have a general question or a topic you want us to cover? Reach out to the show directly at [email protected].

And if you'd rather watch than listen, check out this episode on YouTube: https://www.youtube.com/@RealEstateWithoutTheNoise

Disclaimer

The content shared on Real Estate Without the Noise is intended for informational and educational purposes only.

The views and opinions expressed by Ruth Ballantyne, Sandy Casella, and Evelyn Lopes are their own and do not represent the positions of RE/MAX Realty Services Inc., eXp Realty, or any affiliated brokerage or organization.

Nothing discussed on this podcast constitutes legal, financial, mortgage, or investment advice. Real estate markets vary by location and change over time. Listeners are encouraged to conduct their own research and consult with a qualified professional before making any real estate or financial decisions.

Market data, statistics, and information referenced in episodes are believed to be accurate at the time of recording but may not reflect current market conditions.

Past performance of the real estate market is not a guarantee of future results.

Real Estate Without the Noise is produced independently. Any reference to third party products, services, or organizations does not constitute an endorsement.

Always work with a licensed real estate professional in your area who understands your local market and your personal circumstances.

Everyone's been bracing for a mortgage cliff. Ruth, Evelyn, and Sandy dig into the actual numbers this week, and they tell a different story than the headlines do. CMHC data shows arrears sitting around 0.22 to 0.24 percent, which is historically low, not a wave of defaults waiting to break.

The hosts explain why the stress test, once dreaded, quietly protected homeowners renewing at today's rates. They also flag where real risk hides: second mortgages, private lenders, and HELOCs stretched to cover a car payment or a vacation, none of which show up in the big bank numbers.

From there, the conversation turns to what's actually happening on the ground. Showings are up. Buyers are circling condos again. Sellers and buyers have been stuck in a standoff, each waiting for the other to blink. The hosts break down why the current mix of low prices, low rates, and steady inventory already adds up to a healthy market, and why waiting for "better" might cost more than it saves.

Disclaimer

The content shared on Real Estate Without the Noise is intended for informational and educational purposes only.

The views and opinions expressed by Ruth Ballantyne, Sandy Casella, and Evelyn Lopes are their own and do not represent the positions of RE/MAX Realty Services Inc., eXp Realty, or any affiliated brokerage or organization.

Nothing discussed on this podcast constitutes legal, financial, mortgage, or investment advice. Real estate markets vary by location and change over time. Listeners are encouraged to conduct their own research and consult with a qualified professional before making any real estate or financial decisions.

Market data, statistics, and information referenced in episodes are believed to be accurate at the time of recording but may not reflect current market conditions.

Past performance of the real estate market is not a guarantee of future results.

Real Estate Without the Noise is produced independently. Any reference to third party products, services, or organizations does not constitute an endorsement.

Always work with a licensed real estate professional in your area who understands your local market and your personal circumstances.

The headlines are leading with sales down and prices down. But Evelyn, Ruth, and Sandy are leading with a different number entirely — and it changes everything about how you should be reading this market right now.

In this episode, three realtors with over 100 combined years of experience break down the February 2025 GTA real estate stats with no spin and no doom-and-gloom. They explain why the 17.7% drop in new listings is actually a stabilizing force, not a warning sign, and why the buyer-seller stalemate forming right now mirrors patterns they have seen protect prices in 2008 and 2017.

Topics covered in this episode include the real story behind the listings drop and what it signals about seller psychology, the buyer-seller stalemate and what breaks it, the mortgage renewal wave and whether most homeowners are actually at risk, why the condo market held steadier than almost everyone expected, the difference between the two types of first-time buyer in this market and which one comes out ahead, and why downsizers and first-time buyers are not competing for the same properties.

The hosts also get into the conversation nobody is having — who blinks first in a stalemate? — and why the people who come out ahead in this market will not be the ones who timed it perfectly. They will be the ones who had a plan and were ready to move when the moment arrived.

Timestamps

0:00 — Cold Open: The number nobody is leading with 1:10 — Opening banter: What we saw in our own business this week 4:00 — Breaking down the February stats 8:30 — The 17.7% listings drop and what it really means 13:00 — Buyers and sellers: the stalemate explained 17:30 — Mortgage renewals and the wild card ahead 22:00 — The condo market: why it held steadier than expected 26:30 — First-time buyers: two types, two outcomes 31:00 — What people need to know right now 34:00 — Rapid fire: what people don't realize... 37:00 — Before we go... 39:30 — Closing

Connect with the hosts

Evelyn Lopes | RE/MAX Realty Services Inc. | Caledon, Orangeville, Erin, Guelph, NW GTA [email protected] | 905-965-5902

Ruth Ballantyne | RE/MAX Realty Services Inc. | Brampton and surrounding areas [email protected] | 416-779-8732

Sandy Casella | eXp Realty | Etobicoke, Hamilton, Burlington, Oakville, GTA West [email protected] | 416-467-8627

Show email: [email protected]

Find us here

YouTube: https://www.youtube.com/channel/UCbu3QZvweP8-rPfr-6pB_Fg 

If this episode helped you think more clearly about the market, please subscribe and leave us a review. It helps more people find the show. And if you want to talk about your own next step — reach out to any one of us directly. We are always happy to have that conversation.

Disclaimer

The content shared on Real Estate Without the Noise is intended for informational and educational purposes only.

The views and opinions expressed by Ruth Ballantyne, Sandy Casella, and Evelyn Lopes are their own and do not represent the positions of RE/MAX Realty Services Inc., eXp Realty, or any affiliated brokerage or organization.

Nothing discussed on this podcast constitutes legal, financial, mortgage, or investment advice. Real estate markets vary by location and change over time. Listeners are encouraged to conduct their own research and consult with a qualified professional before making any real estate or financial decisions.

Market data, statistics, and information referenced in episodes are believed to be accurate at the time of recording but may not reflect current market conditions.

Past performance of the real estate market is not a guarantee of future results.

Real Estate Without the Noise is produced independently. Any reference to third party products, services, or organizations does not constitute an endorsement.

Always work with a licensed real estate professional in your area who understands your local market and your personal circumstances.

The GTA real estate market has been full of surprises. And three realtors with over 100 years of combined experience have seen most of it before.

In this episode, Evelyn, Ruth, and Sandy unpack what really happened in 2025 and what they are watching heading into 2026. They draw a striking parallel between today's market and the 1989 downturn, and they explain why falling interest rates did not unlock buyer confidence the way everyone expected.

They get into the condo market split, why purpose-built rentals are going to change the landscape more than most people realize, and what the coming supply void could mean for buyers in two or three years.

This is not a doom episode. It is a clear-eyed look at where we are, what the fundamentals say, and how to think about your own timing without getting paralyzed by headlines.

If you are sitting on the fence right now, this conversation is for you.

Evelyn Lopes: 905-965-5902|  Ruth Ballantyne: 416-779-8732  |  Sandy Casella: 416-467-8627

Disclaimer

The content shared on Real Estate Without the Noise is intended for informational and educational purposes only.

The views and opinions expressed by Ruth Ballantyne, Sandy Casella, and Evelyn Lopes are their own and do not represent the positions of RE/MAX Realty Services Inc., eXp Realty, or any affiliated brokerage or organization.

Nothing discussed on this podcast constitutes legal, financial, mortgage, or investment advice. Real estate markets vary by location and change over time. Listeners are encouraged to conduct their own research and consult with a qualified professional before making any real estate or financial decisions.

Market data, statistics, and information referenced in episodes are believed to be accurate at the time of recording but may not reflect current market conditions.

Past performance of the real estate market is not a guarantee of future results.

Real Estate Without the Noise is produced independently. Any reference to third party products, services, or organizations does not constitute an endorsement.

Always work with a licensed real estate professional in your area who understands your local market and your personal circumstances.