🏃‍♂️ 3rd June 2024 - Canadian Policymakers Want High Home Prices, & Investors Flee!

💥 Monday 3rd June 2024 💥 11 Home Inspection Pitfalls - FREE Report! Daily GTA Real Estate Buzz: Hot Updates! "Elevate Your Home Insights: Informed Reports & Exclusive Listings!" "Daily GTA Real Estate Buzz: Hot Updates" is your go-to newsletter for the latest and most exciting developments in the Greater Toronto Area's real estate market. Each day, we deliver a curated selection of breaking news, trending topics, and expert insights directly to your inbox. Stay ahead of the curve with updates on new listings, market shifts, and valuable tips for buyers, sellers, and investors. With "Daily GTA Real Estate Buzz: Hot Updates," you'll have the pulse of the market at your fingertips, ensuring you're always informed and ready to make the best real estate decisions. What Lesser-Known Factors Can Impact the Accuracy of a Home Inspection? Home inspections are critical in the home-buying process, but several lesser-known factors can impact their accuracy. Here are some factors to consider: 1. Weather Conditions: Rain and Snow: Heavy rain or snow can obscure external issues like roof damage or grading problems. Wet conditions can also hide leaks and moisture problems inside the home. Extremely Hot or Cold Temperatures: Extreme temperatures might prevent inspectors from accessing certain areas, like the attic, or may cause them to rush through outdoor inspections. 2. Accessibility Issues: Occupied Homes: If a home is occupied, furniture and personal belongings can obstruct access to key areas, preventing thorough inspection. Locked or Blocked Areas: Attics, basements, or crawl spaces that are locked or blocked off can prevent inspectors from evaluating the entire property. 3. Inspector’s Experience and Expertise: Varied Skill Levels: Not all inspectors have the same level of experience or expertise. A less experienced inspector might miss subtle but significant issues. Specialization: Some inspectors may specialize in certain types of properties or systems and may not be as thorough in areas outside their expertise. 4. Limited Time: Inspection Duration: The typical home inspection lasts 2-3 hours, which may not be sufficient for a thorough evaluation, especially for larger properties. Scheduling Constraints: If the inspection is rushed due to tight schedules, critical issues might be overlooked. 5. Technological Limitations: Basic Tools: Some inspectors might use basic tools and methods, which can miss issues that more advanced equipment (like thermal imaging cameras or moisture meters) could detect. Non-Invasive Methods: Inspections are usually non-invasive, meaning they do not involve tearing down walls or moving heavy furniture, which can leave some hidden problems undetected. 6. Age of the Property: Older Homes: Older properties might have outdated systems or hidden problems that newer inspectors are less familiar with or may miss due to their subtlety. Newer Homes: Even new constructions can have issues if they were not built to code or have defects from rushed construction. 7. Seasonal Timing: Spring and Fall: Inspections during these seasons might not reveal issues that are only apparent in extreme summer or winter conditions, such as HVAC performance. Pest Activity: Some pests are more active during certain seasons, so their presence might be missed if the inspection is not during their active period. 8. Client and Seller Interaction: Seller Presence: The seller’s presence during an inspection can sometimes inhibit thorough evaluation if the inspector feels rushed or if the seller tries to steer the inspection. Buyer’s Concerns: If buyers are overly concerned with aesthetics or minor issues, they might distract the inspector from focusing on more significant structural or systemic problems. 9. Scope of the Inspection: Standard vs. Specialized Inspections: A standard home inspection covers many areas, but it might not include specialized inspections (e.g., for mold, radon, or asbestos) that could reveal significant issues. Limitations by Contract: Some inspection contracts may limit the inspector’s liability or the scope of the inspection, potentially leaving out critical areas. Mitigating These Issues: Hire Experienced Inspectors: Choose an inspector with extensive experience and good reviews. Consider inspectors who use advanced tools and technology. Schedule Thoughtfully: Try to schedule the inspection during favorable weather conditions and ensure all areas of the property are accessible. Allow enough time for a thorough inspection without rushing. Specialized Inspections: Request additional specialized inspections if the home has known issues or if the standard inspection reveals potential concerns. Be Present: Attend the inspection and ask questions, but allow the inspector to perform their job without unnecessary distractions. Review the Report Carefully: Go through the inspection report in detail and seek clarification on any points you do not understand. Consider getting a second opinion if significant issues are found. By understanding and addressing these factors, homebuyers can ensure a more accurate and comprehensive home inspection, helping to make informed decisions about their potential purchase. This Week’s Top Stories: Canadian Policymakers Want High Home Prices, & Investors Flee - Better Dwelling Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Home Prices “Need” To Be High To Pay For Retirements: PM Canadian Prime Minister Justin Trudeau just said the quiet part out loud. In a recent interview, the country’s head of government stated that he wants affordability to improve, but prices […] betterdwelling.com Read Now ... Summer interest rate cut could prompt rebound in consumer spending: experts Travel spending is picking up and some retailers have seen 'a big lift' in sales of trendy items versus basics, which tends to be a sign that discretionary purchasing is bouncing back. ctvnews.ca Read Now ... Slowest Mortgage Growth In Two Decades Under Higher Interest Rates - muskoka411.com Canada's total residential mortgage debt stood at $2.16 trillion as of February 2024, up 3.4% from February 2023, representing the slowest growth in 23 years. muskoka411.com Read Now ... This tiny and colourful home near Cedarvale Park might be the neighbourhood’s cheapest option “It flows really well, kind of in a collective taste, with lots of different paint colours and stuff like that,” said Ian Matthews, the listing agent for 631 Rushton Rd. thestar.com Read Now ... Is your mortgage up for renewal? We want to hear from you The Bank of Canada’s next interest rate announcement is just around the corner and Toronto residents with mortgage renewals will be keeping a close eye. toronto.ctvnews.ca Read Now ... Canada's mortgage debt crosses multi-trillion-dollar threshold Mortgage debt grows slowly, with borrowers opting for shorter terms amid economic uncertainty wealthprofessional.ca Read Now ... $4.5 million Toronto home looks like it was built in Minecraft In 2019, 118 Haddington Ave. was a modest three-bedroom, three-bathroom bungalow that was sold "as is", pretty much only for land value. ... blogto.com Read Now ... Survey finds many renters delaying plans to buy a home Canada Life, an insurance, wealth management and benefits provider, recently conducted a survey that found market conditions are having a big impact on people's homeownership plans. northernontario.ctvnews.ca Read Now ... New rules mean Airbnb-type rentals in Kitchener would require a licence Kitchener councillors will consider new rules that would require licenses for Airbnb-type vacation rentals and allow lodging houses to operate city-wide. therecord.com Read Now ... Here's what you can buy for less than $500,000 in nine Ottawa neighbourhoods New statistics released by the Municipal Property Assessment Corporation show homes valued at less than $500,000 account for 19 per cent of all homes in Ottawa. CTVNewsOttawa.ca looks at what you can buy for $500,000 in nine Ottawa neighbourhoods in March. ottawa.ctvnews.ca Read Now ... I’m a Real Estate Agent: Here Are the 8 Best Ways To Fund Your Renovations During Retirement You've decided you want to stay long-term in your current home, and perhaps even make it your "forever home." But to make aging in place more comfortable, you want to renovate. Learn More: 10 Things... ca.finance.yahoo.com Read Now ... Leaving the ‘Waiting Room’ for lower policy rate: What the Bank of Canada needs to make it happen - REM 5-year fixed rates have likely already priced in the entirety of expected rate cuts, so this might be as good as it gets realestatemagazine.ca Read Now ... Here's what homes you can buy for the average price in Regina Here's a look at what you can buy in Regina around the average price of a home. regina.ctvnews.ca Read Now ... Investors, Realtors still waiting to learn whether criminal charges will follow collapse of Epic Alliance | CBC News What is happening with the criminal investigation into the founders of failed Saskatoon real estate investment company Epic Alliance? cbc.ca Read Now ... Ontario’s Homeowner Protection Act 2024: OREA and TRREB weigh in - REM The act introduces key measures including banning NOSI registrations, a 10-day cooling-off period for new home purchases and increased protections for condo owners realestatemagazine.ca Read Now ... This $5 million Toronto home was designed by the same person who did Casa Loma As you approach 3025 Queen St. E, or as locals refer to it, "Chateau de Quatre Vents" (Castle of Four Winds), the first thing you’ll noti... blogto.com Read Now ... Owner allowed to maintain property’s use as three dwelling units despite zoning bylaw changes - REM Had he complied with the Order he’d have avoided prosecution and the appeal, plus plans to rebuild wouldn’t have been interrupted realestatemagazine.ca Read Now ... Listings surge met few buyers in April. What that means for spring housing market The Canadian housing market is seeing a boost in listings but a slowdown in sales so far this spring, according to the national real estate association. msn.com Read Now ... 50% of Canada’s residents would leave large urban centres for more affordable real estate: Royal LePage - REM But, “Regardless of how many residents choose to relocate elsewhere, there will always be a strong demand for housing in Toronto, Montreal and Vancouver” realestatemagazine.ca Read Now ... Could a housing revolution transform Canadian cities? The Canadian government is pushing hard for cities to build more "fourplex" apartment blocks. ca.finance.yahoo.com Read Now ... 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. Call | Email me for more Info on any GTA Listings, Buying, Selling, Investing or Homebuyer's queries. Click Here to View Listings like Real Estate Agents. Click Here For HOMES & CONDOS In Toronto. Click Here For PRE-SALE CONDOS in Toronto. How does Rent-To-Own Homes works? Click Here for Power of Sale Listings. 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