🛒 14th Dec 2023 - We Are Approaching A Buyers’ Markets With No Buyers! [Video]

💥 Thursday 14th December 2023 💥 Toronto GTA Power Of Sale FREE Listings! GTA Real Estate Eruption: Daily Heat! "Charting Your Course: Free Reports & the Freshest New Listings!" "GTA Real Estate Eruption: Daily Heat" is your daily dose of the most explosive and impactful updates in the Greater Toronto Area real estate market. Each day, we deliver a curated eruption of the hottest trends, market insights, and critical updates directly to your inbox. Whether you're a potential buyer, seller, investor, or a real estate enthusiast, our "Daily Heat" covers a wide range of topics, from fueling market dynamics to sparking investment opportunities and expert analysis. Stay ignited and make well-informed decisions with "GTA Real Estate Eruption: Daily Heat" as your trusted resource for navigating the dynamic GTA real estate landscape. What are the differences between buying a power-of-sale property and a traditional sale? Buying a power-of-sale property (also known as a bank sale or bank-owned property) differs from a traditional sale in several ways. Here are key differences: Seller: Traditional Sale: In a traditional sale, the property is sold by the homeowner. Power-of-Sale: In a power-of-sale, the sale is initiated by the lender (usually a bank) because the homeowner has defaulted on their mortgage payments. Negotiation Process: Traditional Sale: Negotiations typically take place directly with the homeowner or their real estate agent. Power-of-Sale: The negotiation process may involve the lender or their representative. The buyer deals with the financial institution that holds the mortgage. Condition of the Property: Traditional Sale: The property is usually occupied, and the owner is responsible for its maintenance. The condition may vary. Power-of-Sale: The property might be vacant or poorly maintained. Buyers may need to account for potential repairs or deferred maintenance. Contingencies and Conditions: Traditional Sale: Buyers can negotiate various contingencies and conditions, such as home inspections and financing. Power-of-Sale: The process may be more streamlined, and there might be fewer opportunities for contingencies. Buyers may need to accept the property in its current condition. Timeline: Traditional Sale: The timeline for closing is typically more flexible and negotiable. Power-of-Sale: There may be a more rigid timeline. The lender may want a quicker sale to recoup their investment. Financing: Traditional Sale: Buyers can use various financing options, and the sale is often contingent on the buyer securing a mortgage. Power-of-Sale: Buyers may need to demonstrate that they have pre-approved financing. Some power-of-sale properties are sold "as-is," and traditional mortgage financing might be challenging if extensive repairs are needed. Price: Traditional Sale: The price is usually negotiated between the buyer and seller. Power-of-Sale: The lender sets the price based on the outstanding mortgage amount and may not negotiate as much as in a traditional sale. Terms and Conditions: Traditional Sale: The terms and conditions of the sale are negotiated between the buyer and seller. Power-of-Sale: The terms and conditions may be dictated more by the lender. It's crucial for buyers to conduct thorough due diligence, including a home inspection, when considering a power-of-sale property. While these properties can sometimes offer opportunities for discounts, they also come with potential risks and complexities. Consulting with a real estate professional experienced in handling power-of-sale transactions can be beneficial. We are approaching a buyers’ markets with no buyers: CIBC’s Benjamin Tal Looking ahead to Canada's housing markets in 2024 and beyond, Benjamin Tal, deputy chief economist at CIBC says, housing market activity will continue to deteriorate and won’t rebound until early to mid-2025. bnnbloomberg.ca READ MORE ... Canada’s population growth outpaces available housing by 40 per cent: Q&A with Engel & Völkers - REM “Building up small towns, government incentives and shifting developer priorities could be key to addressing challenges and ensuring a balanced and sustainable housing ecosystem” realestatemagazine.ca READ MORE ... Renting in Canada – what's happening to rates? Increase comes despite slowdowns in Vancouver and Toronto mpamag.com READ MORE ... Bank of Canada Is Pushing A False Real Estate Narrative To Divert Blame: BMO - Better Dwelling Canadians briefly thought the country’s central bank was owning up to, and correcting its mistakes. That pipedream had a bucket of cold water poured on it Thursday, as Bank of Canada (BoC) deputy governor Gravelle’s speech referred to a “long standing housing supply issue.” Adopting a popular but false political narrative didn’t sit right with […] betterdwelling.com READ MORE ... Canadian Mortgage Rates Peaked, Won’t Go Back To 2019 Levels: BMO - Better Dwelling North American interest rate hikes are now largely out of the picture, and rate cuts are the new story. That was the take from BMO after the Bank of Canada (BoC) announced a hold on the 6th, with the US Federal Reserve expected to do the same on the 13th. Now the question on everyone’s […] betterdwelling.com READ MORE ... This $4M Toronto home was built by the same man who built a famous U of T building Nestled in the heart of Toronto's coveted Rosedale neighbourhood is a renovated heritage home that can totally charm the pants off you. 22 Maple Av... blogto.com READ MORE ... Average rent for Hamilton apartments and condos tops $2,000 a month One-bedroom units rented for an average of $1,846 a month in November. thespec.com READ MORE ... Burlington commits to allowing fourplexes and waiving fees on low-income housing to get more homes built in the city - inHalton | Local Online News The City of Burlington reiterated its commitment to getting more homes built in the city at a Dec. 12 council meeting by promising to move forward with its plans to allow fourplexes (homes with up to four units), waive parking minimums in two areas, waive fees on lower-income housing and developing a Community Improvement Plan […] inhalton.com READ MORE ... Rents Up 8% Annually in Canada Despite Slowdown in Vancouver and Toronto By Staff December 13th, 2023 BURLINGTON, ON   The National Rent Report charts and analyzes monthly, quarterly and annual rates and trends in the rental market on a national, provincial, and mu… burlingtongazette.ca READ MORE ... P.E.I. man sentenced to 6 months after rental, construction fraud | CBC News A Stratford, P.E.I., man has been sentenced to six months in jail for multiple cases of fraud that left several Islanders out more than $60,000. cbc.ca READ MORE ... Town announces virtual tool to help homeowners plan rental units ADUSearch now includes Collingwood as a searchable municipality, and can tell users whether their house qualifies for an accessory dwelling unit collingwoodtoday.ca READ MORE ... On the Brink: Halifax-area landlords say housing crisis is harming them too | Globalnews.ca Two landlords in the Halifax area are calling for government solutions to the housing crisis, saying they’re not equipped to absorb extra costs as the cost of living rises. globalnews.ca READ MORE ... Mortgage refinance demand jumps 19% after rates hit lowest level since July Applications for mortgages to buy homes were also higher compared with the previous week. msn.com READ MORE ... Mortgage interest payments up nearly 90% since start of BoC rate hikes: StatCan - Mortgage Rates & Mortgage Broker News in Canada Mortgage interest payments have now soared nearly 90% since the Bank of Canada started hiking interest rates in early 2022. canadianmortgagetrends.com READ MORE ... New rules will allow offers on home purchasing to be made public Daniel Steinfeld, co-founder of On The Block Realty, joins BNN Bloomberg to discuss the new open bidding rule in Ontario. bnnbloomberg.ca READ MORE ... Here's where experts predict housing prices in Ontario will drop the most in the New Year Yet another 2024 housing outlook for Ontario and Canada at large has been released, with more experts predicting that the nation's stubborn real es... blogto.com READ MORE ... Housing affordability at worst levels in 41 years, Bank of Canada index shows - National | Globalnews.ca The Bank of Canada's housing affordability index reached its worst levels in more than four decades last quarter as home prices rose alongside mortgage rates. globalnews.ca READ MORE ... Here's why cottagers may need to file a Underused Housing Tax return for 2022 While the Underused Housing Tax is aimed at non-Canadian residents, cottagers with joint ownership arrangements are getting caught in the crosshairs. cottagelife.com READ MORE ... Canadian Housing Affordability 2nd Worst In History, Recession To Follow: BMO - Better Dwelling Canadian real estate is rarely this out of reach, and it’s always followed by recession. That was the take from BMO, noting further erosion in the Bank of Canada (BoC) Housing Affordability Index (HAI) in Q3 2023. Higher rates are finally slowing down the pace at which it worsens, but it hasn’t been this bad […] betterdwelling.com READ MORE ... Mortgage refinance demand jumps 19% after rates hit lowest level since July Applications for mortgages to buy homes were also higher compared with the previous week. msn.com READ MORE ... Editor's Note "Welcome to my Newsletter Page! I am a professional Real Estate Agent in Toronto GTA with an Architectural background from India. With a unique combination of design and real estate knowledge, I am dedicated to helping clients find their dream home. My expertise in both fields allows me to understand the potential of a property and how to best showcase it to potential buyers. I am committed to providing excellent service and going above and beyond for my clients. Let me help you navigate the real estate market and find your perfect property in the Greater Toronto Area & Surroundings. Contact me today!" Click Here For Hot New Toronto Regional Real Estate Board [TRREB] MLS® Listings. 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