🏛️ 15th Jan 2024 - Why Am I Being Asked About 'Political Targets' On My Mortgage Application?

💥 Monday 15th January 2024 💥 Toronto Real Estate Fixer Upper - Myths & Facts! Toronto's Real Estate Sizzlers: Daily Dive! "Empowering Your Home Goals: Reports & Sizzling Listings!" "Toronto's Real Estate Sizzlers: Daily Dive" is your daily plunge into the hottest and most impactful updates in the Toronto real estate market. Each day, we provide you with a curated selection of sizzlers that highlight the hottest trends, market insights, and critical updates delivered directly to your inbox. Whether you're a potential buyer, seller, investor, or a real estate enthusiast, our "Daily Dive" covers a wide range of topics, from heating up market dynamics to sparking investment opportunities and expert analysis. Dive in and make well-informed decisions with "Toronto's Real Estate Sizzlers: Daily Dive" as your trusted resource for navigating the dynamic Toronto real estate landscape. How can I determine if a fixer-upper property is a good investment opportunity in Toronto? Investing in a fixer-upper property in Toronto can be a rewarding venture, but it requires careful evaluation to ensure it's a good investment opportunity. Here are key steps to help you determine if a fixer-upper is a sound investment: Define Your Investment Goals: Clarify your objectives. Are you looking for a property to renovate and sell quickly, or are you interested in a long-term investment for rental income? Understanding your goals will guide your decision-making. Budget and Renovation Costs: Assess the property's condition and estimate the renovation costs. Factor in not only cosmetic improvements but also structural repairs and upgrades. Create a detailed budget to understand the total investment required. Market Analysis: Conduct a thorough market analysis to understand the demand and property values in the area. Consider both current market conditions and future trends. Evaluate recent sales of renovated properties in the neighborhood. Potential for Appreciation: Assess the property's potential for appreciation after renovations. Look for neighborhoods with a history of property value growth and positive economic indicators. Due Diligence: Conduct a comprehensive due diligence process. Check property records, permits, and any potential legal issues. Hire professionals, such as home inspectors and contractors, to assess the property thoroughly. Zoning and Regulations: Understand local zoning regulations and building codes. Ensure that your renovation plans comply with municipal requirements. Zoning changes can impact the property's use and value. Financing Options: Explore financing options for the purchase and renovation. Some lenders offer renovation loans or lines of credit specifically for fixer-upper properties. Timeframe and Holding Costs: Consider the timeframe for renovations and how it aligns with your investment goals. Calculate holding costs, including property taxes, insurance, and utilities, during the renovation period. Exit Strategy: Have a clear exit strategy. Whether you plan to sell the property after renovations or rent it out, understanding your exit strategy is crucial for a successful investment. Work with Professionals: Collaborate with experienced professionals, including real estate agents, contractors, and legal advisors. Their expertise can help you make informed decisions and avoid potential pitfalls. Negotiate Purchase Price: Negotiate the purchase price based on the property's current condition and the estimated cost of renovations. A lower purchase price can improve your overall return on investment. Contingency Plans: Develop contingency plans for unforeseen issues during renovations. Building in a buffer for unexpected costs and delays is essential for a successful fixer-upper investment. Evaluate Neighborhood Growth: Consider the neighborhood's growth potential. Look for areas undergoing revitalization or urban development, as these factors can positively impact property values. Evaluate School Districts and Amenities: Assess the quality of local schools and nearby amenities. These factors can influence the property's attractiveness to potential buyers or tenants. Remember that investing in a fixer-upper involves risks, and it's important to balance potential rewards with potential challenges. Engaging with local real estate professionals and conducting thorough research will enhance your ability to make informed investment decisions in the Toronto real estate market. Why am I being asked about 'political targets' on my mortgage application? From questions about the origin of your down payment to reviewing “unusual” sources of income, banks want to ensure there are no surprises before they approve your mortgage. In his financial advice column for CTVNews.ca, Christopher Liew outlines some often-unexpected questions you should prepare to answer. ctvnews.ca Read More ... Fixed mortgage rates are on the decline. Is now the time to lock in? - National | Globalnews.ca Canadians with mortgages up for renewal or who are eyeing the spring housing market are finding relief on some fixed rate offerings. Here's what to know. globalnews.ca Read More ... Brampton house sold at 'huge loss' 2 years after it was bought A Brampton house that just sold at a $640,000 loss – after it was listed a handful of times – speaks to the state of the market in the outskirts of Toronto, real estate experts say. toronto.ctvnews.ca Read More ... This $5.5 million Toronto home looks like it's out of a magazine While it's not the Bridle Path, The Kingsway is known for some pretty spectacular homes and 480 The Kingsway is no exception.  The jaw-dropping, on... blogto.com Read More ... CMHC study says zoning has major impact on house prices Fresh Perspective for Hamilton, Burlington and surrounding areas bayobserver.ca Read More ... Two sisters just transformed an historic building in Ontario into their dream hotel A pair of sisters from Ontario had a dream of building a dreamy B&B; outside of Toronto — and it's becoming a reality. Kristen and Kathryn Groom al... blogto.com Read More ... This $4 million Toronto home is a marvel of modern design While old homes are great for charm and character, new builds are great for knowing that everything is going to work and nothing will cost you $20k... blogto.com Read More ... Foreign workers, students driving up rent costs, bankers say 'Many of these people are not going to end up being able to stay in Canada, but while they're here, they need housing,' CIBC chief economist says during panel talk bradfordtoday.ca Read More ... Small apartment complex in Toronto is on sale for $3 million If you've ever dreamt of owning a property that's as charming as it is lucrative, then welcome to your new real estate crush! Nestled in the heart ... blogto.com Read More ... This is what it's like to live inside a massive skybridge between two towers in Toronto A Toronto condo has gone viral for it's unique (and, if you ask me, terrifying) location in a skybridge connecting two towers. The aptly named Gran... blogto.com Read More ... Real estate landscape shifts: Benchmark home prices sharply decline while Ontario cities lead affordability wave - REM Within just five months, most Canadian markets saw a price drop of over three per cent, plus some came in under last year’s prices realestatemagazine.ca Read More ... Big banks slash mortgage rates this week to reflect lower bond yields in Canada - Mortgage Rates & Mortgage Broker News in Canada Nearly all of the country's big banks slashed their advertised fixed mortgage rates this week, in some cases by as much as 70 basis points (or 0.70%). canadianmortgagetrends.com Read More ... Posthaste: Bank of Canada has 'one of the toughest jobs in financial industry this year,' TD says Central bank may have to start cutting interest rates before inflation is back on target ca.finance.yahoo.com Read More ... Making sense of the markets this week: January 14, 2024 - MoneySense What asset classes did best last year? Short sellers lose their shirts, Canadian housing market refuses to go down, and the loonie had a solid 2023. moneysense.ca Read More ... Niagara housing costs soar for homeowners and renters Homeowners in Niagara are feeling the pinch. Higher rates have led to more houses being put on the market, as some homeowners simply cannot afford to renew. Photo Credit: The Canadian Press/Evan Buhler.    Like much of Ontario and Canada, the Niagara region is facing a mortgage and debt crisis spurred on by over-borrowing and […] niagaraindependent.ca Read More ... Tips if you're renewing your mortgage in 2024 About six in 10 Canadian mortgages with major banks are up for renewal in 2024, 2025 and 2026, according to one recent RBC report, resulting in a payment shock for many. But mortgage holders facing renewing at higher rates should examine the following four considerations, says Victor Tran, mortgage broker with RatesDotCA. 1. Uninsured mortgages can get better rates with lower loan-to-value ratios: When renewing, many mortgage holders have enough... msn.com Read More ... Montreal home prices rose in December even as sales fell 4 per cent The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales in December fell four per cent compared with the same month a year earlier. montreal.ctvnews.ca Read More ... Canada was warned 2 years ago immigration could pump up housing costs Document reveals federal public servants were well aware of the pressures of high population growth trailtimes.ca Read More ... Airbnb owners in Victoria try to sell micro units but no one is buying - BC | Globalnews.ca As of May 1 property owners will no longer be able to post places to stay on sites like Airbnb unless they are in principal residences. globalnews.ca Read More ... B.C. families increasingly denied housing because of having children: report | Globalnews.ca A new report released by First Call Child and Youth Advocacy Society found that 37 per cent of parents polled said they were denied rental housing because they had children. globalnews.ca Read More ... BRAMPTON TACKLING ILLEGAL RENTALS THROUGH NEW LICENSING PILOT - OMNI The City of Brampton says they are cracking down on illegal and problematic rental units by introducing a residential rental licensing pilot for five wards. The pilot project will be evaluated over the next two years by the city. Landlords in wards one, three, four, five and seven should expect to pay a hefty price to obtain the license. omnitv.ca Read More ... This Week’s Top Stories: Global Real Estate Prices Correcting & Canadians Fall Behind - Better Dwelling Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada’s Economy Falling Behind, US Growing 10x Faster Per Capita Canada might have been making headlines for its population-driven growth. However, that’s looking at aggregate GDP, which fails to adjust for population growth. Looking at GDP per capita reveals households are falling […] betterdwelling.com Read More ... ANALYSIS | Got questions about Toronto's big proposed property tax hike? Here's what we know | CBC News Toronto’s proposed property tax rate for this year is on the table and you've got questions. CBC Toronto's city hall reporter Shawn Jeffords breaks down below what we know and what we don't at this point.  cbc.ca Read More ... Housing Market 2024: 7 Reasons It’s Too Expensive To Buy a Home Right Now Latest news coverage, email, free stock quotes, live scores and video are just the beginning. Discover more every day at Yahoo! ca.yahoo.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. Call | Email me for more Info on any Greater Toronto Area 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 & 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 | ManojAtri.ca 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. If you no longer wish to receive these Emails, please Unsubscribe Here