✂️ 6th Nov 2024 - Bank of Canada expected to cut Rates by 100 bps before pausing!

💥 Wednesday 6th November 2024 💥 Extra Home Buying Costs - FREE Report! Toronto Real Estate Daily: Hot Updates! "Navigate the Real Estate Market with Confidence: Free Reports & Prime Listings!" "Toronto Real Estate Daily: Hot Updates" is your essential source for the latest developments in Toronto's dynamic real estate market. Each day, we provide a curated selection of breaking news, market trends, and expert insights to keep you informed and ahead of the curve. Whether you're a buyer, seller, investor, or simply interested in the market, our daily updates ensure you're always in the know about the hottest developments in Toronto's real estate scene. Stay connected with "Toronto Real Estate Daily: Hot Updates." What Are the Unanswered Questions Regarding the Impact of Market Fluctuations on Home Buying Extra Costs? Market fluctuations can significantly affect the costs associated with home buying, but there are several unanswered questions that homebuyers and real estate professionals may consider to better understand these dynamics. Here are some key questions regarding the impact of market fluctuations on home buying extra costs: 1. How do economic indicators influence extra costs? Economic indicators like employment rates and inflation can lead to changes in closing costs and insurance premiums. 2. What role do interest rate changes play? Fluctuations in interest rates directly affect mortgage payments and can increase related costs such as insurance and financing fees. 3. What is the impact of supply and demand dynamics? Shifts in supply and demand can result in higher additional costs due to bidding wars and increased appraisal fees. 4. How do local market conditions differ? Market fluctuations impact extra costs variably across urban and rural areas, influenced by local economic factors. 5. What are the long-term trends? Short-term market fluctuations can lead to unpredictable extra costs, but some may stabilize over time. 6. How do changing regulations affect costs? Regulatory changes can introduce unexpected costs related to property taxes and compliance during fluctuating markets. 7. What are the hidden costs during market fluctuations? Buyers may overlook hidden costs like increased repair expenses or appraisal fees during rapid market changes. 8. How does competition influence costs? Increased competition can drive up extra costs such as inspections and necessary repairs due to heightened buyer demand. 9. What role does timing play? The timing of a purchase can influence additional costs, with certain seasons offering lower or higher expenses. 10. What are the psychological effects of market fluctuations? Buyer psychology can lead to impulsive decisions that increase costs, such as overbidding in a competitive market. Conclusion These basic answered questions highlight the complexities and uncertainties that homebuyers face regarding extra costs during market fluctuations. Understanding these dynamics can empower buyers to make informed decisions and navigate the challenges of the home buying process more effectively. Addressing these questions through research, expert consultations, and market analysis can provide clarity and help mitigate unforeseen expenses. "🔥Toronto Real Estate: Hot News & Trends 🏡" Bank of Canada expected to cut rates by 100 bps before pausing, financial experts say - Mortgage Rates & Mortgage Broker News in Canada Financial experts expect the Bank of Canada to cut rates by 100 basis points by the middle of 2025, with no further reductions thereafter. canadianmortgagetrends.com READ MORE ... Ontario home sold at massive $430,000 loss after court drama A Toronto home was finally sold at a staggering $430,000 loss this month following years of legal drama between the property's sellers and a potentia… blogto.com READ MORE ... Buyers are still offering way under asking price for homes in most parts of Toronto area The number of homes changing hands in the Toronto area is finally creeping back up after many months of ghastly sales figures, but it seems that buye… blogto.com READ MORE ... Bank of Canada Market Survey Sees Rates Staying Higher For Longer - Better Dwelling Canada’s central bank may be moving a little faster than the market anticipates. The Bank of Canada (BoC) released its quarterly market participant survey (MPS) this morning. The survey asks prominent financial market participants what they’re expecting in the coming months in terms of economic growth, inflation, and policy. Most respondents see Canada’s real GDP […] betterdwelling.com READ MORE ... Poilievre asks premiers to axe their sales taxes on new homes worth under $1 million - Mortgage Rates & Mortgage Broker News in Canada Conservative Leader Pierre Poilievre has written to the provinces' premiers, asking them to eliminate their sales taxes on new homes that are under $1 million. canadianmortgagetrends.com READ MORE ... Baby boomers and gen X are taking on more mortgage debt More home owners are turning to reverse mortgages, and among those, more are doing so to help their children with a down payment. Read on. cochranetimespost.ca READ MORE ... CMHC says mortgage risks remain It comes as alternative lending grows mpamag.com READ MORE ... Alberta government introduces legislation to enable halal mortgage options - Mortgage Rates & Mortgage Broker News in Canada The Alberta government has introduced legislation that will enable provincially regulated banks to offer halal home financing products. canadianmortgagetrends.com READ MORE ... Toronto house that just won't sell is up for auction with bids starting at $1 While housing auctions might be commonplace in countries like Australia, it's a bit rarer to see one in Canada.  But honestly, they're a genius idea … blogto.com READ MORE ... The best mortgage rates in Canada right now The best mortgage rates in Canada, updated daily, based on data from MortgageLogic.news. Read on and bookmark this page. financialpost.com READ MORE ... Several Ontario cities are among the most sought-after by Canadian renters As the housing crisis persists, many Canadians are choosing to rent over buying a home. A recent survey found that over half of Canadian renters doub… blogto.com READ MORE ... Realtors see reasons for optimism as London-area home sales rise Homes sales in the London region picked up for a second straight month in October, signalling more buyers are willing to pull the trigger on purchases amid lower interest rates, the latest housing market snapshot shows. lfpress.com READ MORE ... Canadian Mortgage Delinquency Rates Expected to Rise Through 2025 Canada’s housing market faces ongoing challenges despite showing resilience against higher interest rates, according to a new report from the Canada Mortgage and Housing Corporation (CMHC). T… thedeepdive.ca READ MORE ... "Strong consensus" among BoC Governing Council that 50bps cut was needed in October - Mortgage Rates & Mortgage Broker News in Canada The Bank of Canada’s Governing Council reached a “strong consensus” in October that a 50-basis-point rate cut was needed. canadianmortgagetrends.com READ MORE ... Calls to cut PST on new home construction intensify in Sask. A rebate on the Provincial Sales Tax (PST) on new home builds was an election promise from the Saskatchewan Party. However, the federal Conservatives have gone one step further – calling for the GST on the builds to be axed nationwide. regina.ctvnews.ca READ MORE ... The Chase: After searching across the GTA, this couple found their starter home right where they began - Toronto Life 1,077,815 Torontonians can’t be wrong. torontolife.com READ MORE ... I Can’t Buy a Home, So I’m Fixing Up a Decrepit Farmhouse | The Walrus In Cape Breton, housing was never an issue. Now I’m priced out—and picking up the power tools thewalrus.ca READ MORE ... October home sales rise by 7 per cent in Waterloo Region In October a total of 604 homes were sold in Waterloo Region, which represents a 7 per cent increase compared to the same time last year, according to the Cornerstone Association of Realtors. kitchener.ctvnews.ca READ MORE ... Housing sales up in Waterloo Region amid interest rate cuts New numbers show that housing purchases increased through the month of October in Waterloo Region. kitchener.citynews.ca READ MORE ... Ill - HUB SmartCoverage If a tenant is engaged in illegal or criminal activities – such as a marijuana grow-op – then it’s within the landlord’s rights to evict them for breaking the terms of the rental agreement. hubsmartcoverage.ca READ MORE ... "📝 Message from the Editor ✨" Welcome to my Newsletter Page! 🎉 I am a professional Real Estate Agent here in the 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! 📞(416) 275-2089 ✉️ Manoj@ManojAtri.com 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💼. Manoj Atri, REALTOR®  "🏡 Experienced Toronto GTA Sales Representative with Architectural Background 🏙️ My Forte: Power of Sale 🔑 Bank Foreclosures 🏦 Fixer-Uppers 🛠️ Rent-To-Own Homes 🏠 All Types of Credits: Low or Zero Down with Bank Cash-Back 💰 + Cash for Renovations Info 🛠️ & Much More! 📞✨" Re/Max Hallmark Realty Ltd., Brokerage 401-685 Sheppard Ave E, Toronto ON M2K 1B6 Cell: [416] 275-2089 | Office: [416] 494-7653 | Email: Manoj@ManojAtri.com Websites:   Homebuyer Hub | ManojAtri.com | SearchRealEstateInToronto.ca Rent-To-Own Homes | ManojAtri.ReMaxHallmarkRealty.ca  Social Media: Facebook Profile • Blog • Pinterest • Tumblr Subscribe To My FREE Daily Curated Hot News Articles e-Newsletter! © Copyright 2023 ManojAtri.com All rights reserved. "Disclaimer: This Newsletter contains summarized content from various sources; full attribution for each article is provided in the original linked content. Articles and Podcasts in this newsletter are generated by AI." 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📉 21st Oct 2024 - New Condo Sales drop 81% across Southern Ontario!

💥 Monday 21st October 2024 💥 NEW vs Resale Homes - FREE Report! Hot News Daily: Toronto Real Estate Digest! "Your Gateway to Real Estate Excellence: Free Reports & Coveted Listings!" "Hot News Daily: Toronto Real Estate Digest" brings you the freshest and most important updates from Toronto’s real estate market. Each day, we deliver a comprehensive digest of key trends, expert insights, and market movements to help you stay informed and ahead of the curve. Whether you're buying, selling, investing, or simply keeping an eye on the market, our daily digest provides you with everything you need to make informed decisions. Stay on top of the hottest real estate news with "Hot News Daily: Toronto Real Estate Digest." How do the negotiation and bargaining dynamics differ when purchasing new homes versus resale homes, and what strategies can buyers use to maximize their leverage and secure the best possible deal? The negotiation and bargaining dynamics between purchasing new homes and resale homes can vary significantly due to differences in pricing structures, seller motivations, and the condition of the properties. Here’s a breakdown of these dynamics and strategies that buyers can use to maximize their leverage and secure the best possible deal. 1. Negotiation Dynamics New Homes: Fixed Pricing: New homes are often sold at fixed prices set by the builder or developer. While there may be less room for negotiation on the base price, there are often incentives and upgrades available for negotiation. Incentives and Promotions: Builders may offer incentives such as upgrades, closing cost assistance, or reduced deposit requirements to attract buyers, especially in a competitive market. Less Emotional Attachment: Builders are typically more transactional, focusing on closing sales rather than emotional ties to the property. This can lead to more straightforward negotiations. Resale Homes: Flexible Pricing: Resale homes often have more room for negotiation. The price may be influenced by the seller’s situation, the length of time the property has been on the market, and the condition of the home. Seller Motivation: Sellers may be more motivated to negotiate if they are facing financial pressure, such as job relocation, divorce, or other life changes. Understanding the seller’s motivation can provide leverage during negotiations. Emotional Factors: Sellers may have emotional attachments to their homes, which can complicate negotiations. Buyers need to navigate this sensitivity, balancing assertiveness with empathy. 2. Strategies for Buyers to Maximize Leverage For New Homes: Research Builder Incentives: Before negotiations, research any promotions or incentives offered by the builder. Knowing what’s available can give buyers leverage when discussing upgrades or costs. Explore Options and Upgrades: Rather than focusing solely on the purchase price, negotiate for desirable upgrades or features (e.g., appliances, flooring, landscaping) that may add value to the home. Consider Timing: Builders may be more flexible with pricing and incentives at the end of a fiscal quarter or during slower sales periods. Timing negotiations strategically can yield better results. Use Multiple Offers: If possible, explore multiple builders or developments. Having alternatives can give buyers leverage in negotiations, as they can reference other offers they are considering. For Resale Homes: Conduct Thorough Research: Understand the local market conditions, including recent comparable sales (comps), average days on the market, and any pending sales. This information can help buyers make informed offers. Assess Seller Motivation: Determine the seller's motivations and circumstances. If they are in a hurry to sell, they may be more open to negotiating on price or terms. Be Prepared to Walk Away: Demonstrating that you are willing to walk away if the terms are not favorable can provide significant leverage in negotiations. Sellers may be more willing to consider a reasonable offer to avoid losing a potential buyer. Include Contingencies: Offering to purchase with fewer contingencies can make a buyer's offer more appealing. However, this should be balanced with the buyer’s need for protection in the transaction. Offer a Strong Earnest Money Deposit: Providing a larger earnest money deposit can signal serious intent to the seller and may encourage them to consider your offer more favorably. 3. General Tips for Both Types of Purchases Professional Representation: Engage a knowledgeable real estate agent who understands negotiation tactics and can represent your interests effectively. Stay Informed: Being well-informed about the property’s condition, local market trends, and financing options can empower buyers during negotiations. Be Respectful and Patient: Building rapport with the seller or builder can facilitate smoother negotiations. Patience can be a powerful tool, allowing time for both parties to consider offers and counteroffers thoughtfully. Get Pre-Approved for Financing: A pre-approval letter can strengthen your position, showing sellers or builders that you are a serious buyer capable of completing the transaction. Conclusion The negotiation dynamics for new homes and resale homes differ in various ways, primarily due to pricing structures and seller motivations. By employing effective strategies tailored to each scenario, buyers can maximize their leverage and secure the best possible deal. Whether purchasing a newly built home or a resale property, thorough research, strategic timing, and professional representation are key to successful negotiations. New condo sales drop 81% across southern Ontario | INsauga Sales on new condominiums in Mississauga, Hamilton, and southern Ontario are at their lowest quarterly in nearly 30 years. According to a new report published Friday (Oct. 18) by Urbanation, condo sales have dropped significantly, falling 81 percent in the third quarter of 2023 compared to the same quarter last year. The new Condominium Market […] insauga.com READ MORE ... $1.4 million Toronto condo loses 23 per cent of its value in just two years Throughout September, buyers in Toronto started to take advantage of more and more affordable conditions brought about by interest rate cuts and lowe… blogto.com READ MORE ... ‘Upward momentum’: Average Bradford home sold for $1M in September While year-over-year price increased slightly in town, total sales dropped last month, BDAR says bradfordtoday.ca READ MORE ... Understanding Condo Rules Condominiums can be more affordable than single-family homes, but be sure to check the condo rules before buying. blog.remax.ca READ MORE ... ‘Buyers are tired of being on the sidelines’: Sales of new homes tick up in Ottawa in September Sales of new homes are up this year compared to 2023, causing the Greater Ottawa Home Builders’ Association to predict a “positive tone” for the market going into the new year. obj.ca READ MORE ... 'Jumbo rate cuts': Here's what you need to know about potential Bank of Canada interest rate drop next week Bank of Canada governor Tiff Macklem is expected to make an interest rate announcement Oct. 23. Financial experts predict the rate will drop significantly from the current 4.25 per cent. toronto.com READ MORE ... Now's the time to jump into the housing market, says top broker Narrow window of affordability set to close in mid-2025 mpamag.com READ MORE ... Canada's inflation hits new low – What's next for the housing market? Economists anticipate rate cuts after inflation drops below 2% mpamag.com READ MORE ... A tiny Toronto house going for $1.2 million is so hidden you'lll miss it Tucked away on a quiet, no-traffic, dead-end Toronto street, 925 Palmerston Ave. is truly a hidden gem. This Annex home blends quirky charm with mode… blogto.com READ MORE ... Average price of homes in Newmarket nudges up in September The price of detached homes increased in Newmarket since last month, while the average price semi-detached and townhomes decreased since last month newmarkettoday.ca READ MORE ... One of Toronto's oldest loft conversions is on the market for $900,000 Toronto is full of iconic loft conversions, but not all of them have the history and charm of 99 Coleman Avenue. This boutique building, which began … blogto.com READ MORE ... Ready to close on your dream home? Make sure you’ve dotted the I’s and crossed the T’s Avoid making major purchases before closing so you don't imperil your financing, experts say, and be prepared for all the legal and administrative fees. therecord.com READ MORE ... Exclusive Interview with Michelle Kam: Finding Success in Toronto’s Real Estate Market - CEOWORLD magazine Michelle Kam, a leading real estate broker and founder of Re/Max City Accord Realty Inc., is known for her comprehensive approach and strong community ties. In this exclusive interview, Michelle Kam shares her insights on the real estate industry, her journey, and her vision for the future. What inspired you to pursue a career in […] ceoworld.biz READ MORE ... New skyscrapers could replace downtown Toronto office buildings A pair of soaring skyscrapers could soon replace an office complex in the heart of downtown Toronto. Developer H&R REIT has proposed to tear down the… blogto.com READ MORE ... Five of six Canadian banks predict sharper rate cut as inflation slows TD Bank remains cautious while peers expect 50-point reduction mpamag.com READ MORE ... This Week's Top Stories: Canadian Real Estate Demand Weakens In Key Markets & Supersized Rate Cuts - Better Dwelling Time for your cheat sheet on this week’s top stories. Canadian Real Estate Toronto & Vancouver Are Now The Weakest Real Estate Markets In Canada Toronto and Vancouver are traditionally Canada’s hottest real estate markets, leading the trend. If that still holds true, it might be a problem in the coming months. Experts believed the […] betterdwelling.com READ MORE ... Ottawa real estate industry watching anticipated interest rate cut closely There’s anticipation of a further rate cut from the Bank of Canada this week due to plummeting inflation and back-to-back interest rate cuts this year. ottawa.ctvnews.ca READ MORE ... With inflation below target, Bank of Canada expected to deliver supersized rate cut this week The Bank of Canada has lowered its key interest rate three times so far, bringing it down to 4.25 per cent. toronto.citynews.ca READ MORE ... Real estate experts worry new flood zone could impact market Following the new Montreal flood zone map being made public, a non-profit group, the Quebec Professional Association of Real Estate Brokers (QPAREB) — which represents more than 15,000 real estate brokers and agencies — is ringing the alarm. According to its brief, the new zone maps will make 77,000 previously unaffected properties decline in value. […] montreal.citynews.ca READ MORE ... Etobicoke residents hope to save cinema from proposed condo development | CBC News Etobicoke residents are trying to save a local Cineplex theatre from potentially being demolished to make room for condo towers. An application to the City of Toronto from a property management company proposes building 12 towers in the cinema’s place. cbc.ca 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. 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. Manoj Atri, REALTOR®  Experienced Toronto GTA Sales Representative with Architectural Background. My forte: Power of Sale | Bank Foreclosures | Fixer-Upper | Rent-To-Own Homes All types of Credits Low or Zero down With Bank Cash-Back + Cash For Renovations Info & Much More... Re/Max Hallmark Realty Ltd., Brokerage 401-685 Sheppard Ave E, Toronto ON M2K 1B6 Cell: [416] 275-2089 | Office: [416] 494-7653 | Email: Manoj@ManojAtri.com Websites:   Homebuyer Hub | ManojAtri.com | SearchRealEstateInToronto.ca Rent-To-Own Homes | ManojAtri.ReMaxHallmarkRealty.ca  Social Media: Facebook Profile • Blog • Pinterest • Tumblr Subscribe To My FREE Daily Curated Hot News Articles e-Newsletter! © Copyright 2023 ManojAtri.com All rights reserved. "Disclaimer: This Newsletter contains summarized content from various sources; full attribution for each article is provided in the original linked content. Articles and Podcasts in this newsletter are generated by AI." If you no longer wish to receive these Emails, please Unsubscribe Here