15th June 2023 - Toronto Real Estate Insider: Daily Updates!

★ Thursday 15th June 2023 ★ Toronto Real Estate Fixer Upper - Myths & Facts! Toronto Real Estate Insider: Daily Updates! "Daily Dose of Toronto's Real Estate: Keep Up-to-Date with Our Briefing." Welcome to "Toronto Real Estate Insider: Daily Updates!" Our daily newsletter is your exclusive insider access to the latest updates, trends, and insights in the dynamic Toronto real estate market. We understand that being in the know is crucial, and our newsletter provides you with a curated selection of news, market analysis, and expert perspectives. Whether you're a buyer, seller, investor, or industry professional, our content covers a wide range of topics, including market trends, investment opportunities, neighborhood spotlights, and regulatory changes. Stay ahead of the game and make informed decisions with our daily updates. Subscribe now to "Toronto Real Estate Insider: Daily Updates!" and elevate your understanding of the Toronto real estate market to the next level. The Truth About Fixer Upper Homes: What You Should Know Before You Buy! Fixer-upper homes can be an enticing option for buyers seeking affordability or the opportunity to customize a property. However, it's important to be aware of the realities and considerations before diving into a fixer-upper purchase. Here's what you should know: Cost of Renovations: Fixer-uppers require significant renovation work, and the costs can add up quickly. Create a detailed budget that accounts for both material and labor expenses. It's wise to have a contingency fund for unexpected issues that may arise during the renovation process. Time and Effort: Renovating a home takes time and effort. Consider your availability and skills for overseeing or managing the renovations. If you're not experienced, hiring contractors or professionals may be necessary, which adds to the overall costs. Assess Structural Issues: Before buying a fixer-upper, thoroughly assess the property for any structural issues. These can be costly to fix and may require professional expertise. Get a comprehensive inspection to uncover any potential problems. Financing Challenges: Obtaining financing for a fixer-upper can be more challenging compared to move-in-ready homes. Traditional lenders may be hesitant due to the property's condition. Explore renovation loans or other financing options specifically designed for fixer-uppers. Permits and Codes: Renovations often require permits and must adhere to local building codes. Familiarize yourself with the regulations in your area and consider the potential time and cost implications of obtaining necessary permits. Opportunity for Equity: Despite the challenges, a successful fixer-upper renovation can create equity in the property. If you're willing to put in the work, you can potentially increase the value of the home and build wealth. Realistic Timeline: Renovations generally take longer than anticipated, so be prepared for delays and setbacks. Create a realistic timeline and consider the impact it may have on your living arrangements during the renovation process. Professional Guidance: Work with experienced professionals, such as contractors, architects, or designers, who can provide expert advice and help you make informed decisions. They can assist with assessing the property's condition, estimating renovation costs, and guiding you through the process. Resale Value Considerations: When choosing a fixer-upper, consider the potential resale value. Look at the neighborhood and market trends to ensure you're making a wise investment that aligns with your long-term goals. Your Personal Comfort Level: Assess your personal comfort level with the renovation process. Some people thrive on the challenge and enjoy the creative aspect of turning a fixer-upper into their dream home. However, others may find it overwhelming and stressful. Be honest with yourself about your capabilities and willingness to tackle a fixer-upper project. Ultimately, buying a fixer-upper requires careful consideration, research, and a realistic understanding of your resources and capabilities. With proper planning and professional guidance, a fixer-upper can be a rewarding investment, but it's important to approach it with eyes wide open and be prepared for the challenges that come with it. You could score free rent for a whole year in one of Toronto's favourite neighbourhoods No second-guessing here, you did read that headline right. Toronto's newest rental community is offering up to a year of free rent with its ‘Experi... blogto.com Read More ... Understanding the challenges and aspirations of first-time homebuyers Realtors should understand the perspectives and concerns of young homebuyers, a growing demographic grappling with a... realestatemagazine.ca Read More ... The increasingly narrow path to owning a house, without becoming house poor | RCI What it's like when rents, purchase prices and interest rates all rise at the same time ici.radio-canada.ca Read More ... Is There A Difference Between A Deposit And Downpayment We work closely with our clients assisting them with the home buying process and make sure that not only they get the best rate, but more importantly the right mortgage that suits their financial needs and long-term goals. opendoorsmortgage.ca Read More ... Canadian Households Dedicate A Record Share of Income To Debt Payments - Better Dwelling Canadians went on a record debt binge, and are now left with one of the worst hangovers in history. Statistics Canada (Stat Can) data shows the household debt service ratio (DSR) surged to a new record high in Q1 2023. Households now dedicate a record share of income to repayment, and it’s not just due […] betterdwelling.com Read More ... Realtor sued after client alleges negligence in land valuation A realtor provided a rough estimate of property values to a client going through a separation; the client later felt it was too low and sued... realestatemagazine.ca Read More ... Collections Can Prevent Mortgage Financing homehappy.ca Read More ... What Are GDS/TDS Ratios Anyways? welbanks.com Read More ... Why buying a home for under $200,000 in Ontario remains rare, but possible | Globalnews.ca A new report from Point2 found that while rare, some affordable options still exist, but they go fast and might not be what you first thought. globalnews.ca Read More ... Canadian mortgage growth is weakest in 20 years amid high rates - BNN Bloomberg Canadians’ mortgage borrowing hit the lowest level since 2003 amid higher interest rates. bnnbloomberg.ca Read More ... Surreal Estate: $10 million for a Kleinburg villa with a car elevator to a secret lair And what small-town home would be complete without 10,000 square feet of underground space, a cigar room and a kitchen as long as a bowling alley? torontolife.com Read More ... Mortgage growth at a seven-year low and pockets of financial stress are growing: Equifax - Mortgage Rates & Mortgage Broker News in Canada Rising interest rates and a softening real estate market have applied the brakes to new mortgage growth, which fell to its slowest pace since 2018. canadianmortgagetrends.com Read More ... Refinancing mortgages could help those in ‘dire need’ of debt relief. What to know - National | Globalnews.ca The number of homeowners thinking about mortgage refinancing is rising, says Rates.ca. Here's what you need to know if you're considering consolidating your debt in a single loan. globalnews.ca Read More ... Household debt level rises as interest rates bite into cash flow Canadians have less cash to spend even as they are taking on more debt, Statistics Canada reported Wednesday, at a time when interest rates are the highest they've been in decades. ctvnews.ca Read More ... Thorold a hotter real estate market than St. Catharines in May The numbers are going up in Thorold, while St. Catharines is not seeing the same gains. stcatharinesstandard.ca Read More ... The Housing Market Is Still Hot But Likely to Cool - Toronto Area Real Estate Market Update - June 2023 This was the first month since last June that saw house prices increase year-over-year. movesmartly.com Read More ... Brampton drops from 9th to 13th-most-expensive city for rentals | inBrampton In just one month Brampton has dropped on a ranking of Canada's most expensive cities for rental properties, but that hasn't translated to a big drop in prices. insauga.com Read More ... EXPLAINER: How Airbnb and short-term rentals have decimated housing in Canada | Ricochet HELP MAKE THIS JOURNALISM HAPPEN! Ricochet and Pivot are investigating Airbnb and short-term rentals.We recently launched a groundbreaking project that will tell the story of how short-term rentals have impacted Canada’s housing market. We’re hiring reporters across Canada to investigate this summer, but we need your help to make this critical public-interest journalism happen. Please click here to make a donation today. ricochet.media Read More ... Vaughan and Richmond Hill tenants among those paying highest rents, National Rent Report shows “The rental market is expected to heat up further,” expert says. yorkregion.com Read More ... Pace of rent growth eases, but expected to rise further following latest rate hike - Mortgage Rates & Mortgage Broker News in Canada Average rent prices have posted their slowest pace of annual growth in a year and a half, but are expected to continue rising, particularly with interest rates once again moving higher. canadianmortgagetrends.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, or Investing 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:   ManojAtri.com | ManojAtri.ca | SearchHousesForSale.ca SearchRealEstateInToronto.ca | Rent to Own Homes | ManojAtri.ReMaxHallmarkRealty.ca  Social Media: Facebook Profile • OLD Fan Page: Rent to Own Homes GTA • Facebook NEW Fan Page Blog • Instagram • LinkedIn • Pinterest • Twitter • Tumblr • Youtube • Client Testimonials 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

14th June 2023 - Toronto's Hottest Real Estate Headlines!

★ Wednesday 14th June 2023 ★ How To Find Toronto GTA Power Of Sale Listings? Toronto's Hottest Real Estate Headlines! "Get the inside scoop on the GTA's hottest Real Estate deals and opportunities" Welcome to "Toronto's Hottest Real Estate Headlines!" Our daily newsletter is your go-to source for the most sizzling and trending news in the Toronto real estate market. We understand that staying up to date is essential, and our newsletter brings you the juiciest headlines, market updates, and insider information. Whether you're a buyer, seller, investor, or simply curious about the real estate scene in Toronto, our curated content covers a wide range of topics, including new listings, market trends, investment opportunities, and exciting developments. Don't miss out on the hottest news in town – subscribe now to "Toronto's Hottest Real Estate Headlines!" and be in the know about the buzzworthy stories shaping the Toronto real estate landscape. How to Successfully Buy Toronto GTA Power of Sale Real Estate Listings? Successfully buying Toronto GTA power of sale real estate listings requires careful preparation and a strategic approach. Here are some tips to help you navigate the process effectively: Understand Power of Sale: Familiarize yourself with the power of sale process, which occurs when a homeowner defaults on their mortgage and the lender initiates the sale of the property to recover the outstanding debt. Learn about the specific rules and regulations governing power of sale properties in Toronto and the GTA. Work with a Real Estate Agent: Partner with a real estate agent experienced in power of sale properties. They can provide valuable insights, access to listings, and guide you through the complexities of the process. A knowledgeable agent can help you identify opportunities, negotiate with the lender or seller, and ensure a smooth transaction. Do Your Due Diligence: Conduct thorough research and due diligence on any power of sale property you're interested in. This includes reviewing the property's title, outstanding liens or judgments, and any potential issues that may affect its value or your ability to secure financing. Obtain Financing Pre-approval: Get pre-approved for a mortgage or secure financing before making an offer on a power of sale property. Having your financing in place demonstrates your seriousness as a buyer and increases your chances of a successful purchase. Act Quickly: Power of sale properties often attract multiple buyers due to their potential for discounted prices. Be prepared to act quickly when you find a property that meets your criteria. Have your agent submit a well-prepared offer promptly, including any necessary documentation and deposit. Conduct a Home Inspection: Even though power of sale properties are typically sold "as-is," it's still crucial to conduct a home inspection. This helps identify any major issues or potential costly repairs that could impact your decision to proceed with the purchase. Price Negotiation: While power of sale properties are generally priced competitively, there may be room for negotiation. Your agent can assist in determining an appropriate offer price based on market value, condition, and comparable sales. Be prepared for potential counteroffers or multiple rounds of negotiation. Ensure Clear Title Transfer: Work with your lawyer to ensure a smooth and clear title transfer process. They will verify that the necessary legal steps have been followed by the lender or seller to ensure a valid transfer of ownership. Be Patient and Persistent: Buying a power of sale property can sometimes be a lengthy process due to legal and administrative requirements. Be patient and persistent, as it may take time to secure the property and complete the transaction. Seek Professional Advice: Consult with professionals such as lawyers, home inspectors, and mortgage brokers who have experience in power of sale transactions. Their expertise can provide valuable guidance and ensure that you make informed decisions throughout the process. Remember, the power of sale process can be complex, so it's essential to work with knowledgeable professionals and conduct thorough research. By following these tips and seeking expert advice, you can increase your chances of successfully purchasing a power of sale property in the Toronto GTA area. When tenants stopped paying rent, Niagara landlord says she offered them $10K to leave. It didn't work | CBC News When Luz Romero heard about a Niagara Falls, Ont. rental property for sale a few years ago, she jumped at the opportunity to be a landlord. But now she says her tenants owe her over $7,000 in unpaid rent and delays at the Landlord and Tenant Board mean she can't evict them anytime soon. cbc.ca VIEW MORE I thought I wanted to buy a house, but seeing nearly 80 homes in 9 months convinced me to spend my money on something more important Instead of buying a house in this madcap market, writer Michelle Chikaonda paid off five figures of credit card debt in 18 months. msn.com VIEW MORE Calgarians struggle with rising rental prices, but experts say rent control isn't the solution Many Calgarians are struggling as the rental market remains hot, driving up prices and tightening supply. calgary.ctvnews.ca VIEW MORE ‘Nowhere to go’: N.S. tenant forced back into tight rental market after fixed-term lease ends | Globalnews.ca A Halifax-area woman is looking for a new home after her fixed-term lease was not renewed and she refused to pay a hefty price increase to stay in her unit. globalnews.ca VIEW MORE Guelph ranked 10th nationally as most expensive for one-bedroom rental Average price for a one-bedroom unit in Guelph last month was $2,095 guelphtoday.com VIEW MORE What expenses can you deduct when renovating a rental property? - MoneySense The purpose of the renovations, as well as the occupancy of the building, can influence whether the expenses are tax deductible or not. moneysense.ca VIEW MORE House of the Week: $5.8 million for a Caledon estate with three storeys, two living rooms and an elevator At 8,200 square feet, the property also comes with marble all over, an 800-square-foot loggia and a backyard the size of a soccer pitch torontolife.com VIEW MORE Pickering church may soon be home to 41 rental units | inDurham A church in Pickering may soon be home to 41 new rental homes. Kindred Works applied to convert the areas around Dunbarton-Fairport United Church at 1066 Dunbarton Rd. into rental units. This developer was established by the United Church of Canada, “to repurpose their properties to respond to Canada’s housing crisis,” per their website. They […] insauga.com VIEW MORE How to rent your first apartment in Canada Many newcomers to Canada choose to rent accommodations versus buying property upon their arrival. Finding a new home can be stressful, so this article will provide the basics for you to understand the process of renting in Canada. Discover if You Are Eligible for Canadian Immigration How to find your rental You can search for […] canadianinquirer.net VIEW MORE Most sought-after Toronto real estate neighbourhoods in 2023 so far - BNN Bloomberg ​The Toronto real estate market has remained hot despite the Bank of Canada’s aggressive interest rate hikes over the past year. bnnbloomberg.ca VIEW MORE Looking to buy? Here's what N.B.'s housing market looks like this spring | CBC News The spring real estate market hasn’t been quite what realtors were hoping for, but “it’s still a seller’s market, for sure,” said Michele Morris, president of the Real Estate Board of the Fredericton Area. cbc.ca VIEW MORE Thorold a hotter real estate market than St. Catharines in May The numbers are going up in Thorold, while St. Catharines is not seeing the same gains. niagarathisweek.com VIEW MORE Canada’s Largest Real Estate Markets Saw Supply Outpace Population: Stat Can - Better Dwelling Canada’s national stats agency is pouring a bucket of ice water on the country’s speculative markets. The Canadian Housing Statistics Program (CHSP) crunched housing supply numbers from 2019 to 2021. The Statistics Canada (Stat Can) program found that both Toronto and Vancouver Census Metropolitan Areas (CMAs) saw its housing supply grow much faster than its […] betterdwelling.com VIEW MORE Mortgage growth at a seven-year low and pockets of financial stress are growing: Equifax - Mortgage Rates & Mortgage Broker News in Canada Rising interest rates and a softening real estate market have applied the brakes to new mortgage growth, which fell to its slowest pace since 2018. canadianmortgagetrends.com VIEW MORE House of Cards: Interest Rates, Household Debt, and the Housing Crisis - Centre for Future Work Last week the Bank of Canada increased its overnight interest rate, for the 9th time in little over a year, to 4.75%. In making its announcement, the Bank cited a slight increase in year-over-year headline CPI inflation last month. This, the Bank suggested, was one reason why it abandoned a temporary ‘hold’ on further interest rate increases announced in January. The Bank’s rationale is ironic, because the Bank’s rapid run-up in interest rates was the main cause of that small uptick in inflation centreforfuturework.ca VIEW MORE Canadian Financial Regulator Urges Lenders to Tackle Mortgage Risks as Rates Rise By Investing.com Canadian Financial Regulator Urges Lenders to Tackle Mortgage Risks as Rates Rise ca.investing.com VIEW MORE Pros and Cons of Self-Builds vs. Purchasing a Home • Source Mortgage Discover the pros and cons of self-builds vs. purchasing a home. Make an informed decision about the best option for your new home. sourcemortgage.ca VIEW MORE Fearing higher rates, more Canadians may be refinancing their mortgage Using RATESDOTCA mortgage quoter data, we got a current read on how mortgage activity has changed from 2022 so far in 2023. rates.ca VIEW MORE Canadian Housing: What To Expect After Latest Bank of Canada Interest Rates Hike | Investing.com Canada Market Overview Analysis by The Canadian Home covering: . Read The Canadian Home's latest article on Investing.com Canada. ca.investing.com VIEW MORE Tribunal suspends licence of Mississauga lawyer for allegedly taking part in predatory loan scheme Transactions in question involve fixed-income seniors and 25 percent 'usurious' interest rates lawtimesnews.com VIEW 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, or Investing 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:   ManojAtri.com | ManojAtri.ca | SearchHousesForSale.ca SearchRealEstateInToronto.ca | Rent to Own Homes | ManojAtri.ReMaxHallmarkRealty.ca  Social Media: Facebook Profile • OLD Fan Page: Rent to Own Homes GTA • Facebook NEW Fan Page Blog • Instagram • LinkedIn • Pinterest • Twitter • Tumblr • Youtube • Client Testimonials 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