13th July 2023 - Greater Toronto Real Estate News Hub: Daily Headlines

★ Thursday 13th July 2023 ★ Toronto Real Estate Fixer Upper - Myths & Facts! Greater Toronto Real Estate News Hub: Daily Headlines! "Fueling your Home Buying and Selling endeavors with our invaluable Reports and carefully selected Listings!" Welcome to "Greater Toronto Real Estate News Hub: Daily Headlines!" Our daily newsletter is your centralized hub for the latest headlines and updates in the Greater Toronto real estate market. We understand that staying informed is crucial, so we bring you the most important news and highlights straight to your inbox. Whether you're a buyer, seller, investor, or industry professional, our curated content covers a wide range of topics, including market trends, new listings, development projects, regulatory changes, and expert opinions. Stay up to date and make informed decisions with our daily headlines. Subscribe now to "Greater Toronto Real Estate News Hub: Daily Headlines" and stay connected to the pulse of the Greater Toronto real estate market. What are the Key Factors to consider before Purchasing a Fixer-Upper Property in Toronto? Purchasing a fixer-upper property in Toronto can be a rewarding investment, but it's important to consider several key factors before making a decision. Here are some factors to consider: Budget and Financing: Assess your financial situation and determine your budget for purchasing and renovating a fixer-upper property. Consider the purchase price, estimated renovation costs, and any additional expenses such as permits or inspections. Explore financing options suitable for renovation projects, such as renovation loans or construction mortgages, and ensure you have a realistic understanding of the financial commitment involved. Renovation Expertise: Evaluate your own renovation skills and knowledge. Determine whether you have the necessary expertise to undertake the required repairs and renovations, or if you need to hire professionals. Be honest about your capabilities and consider the time, effort, and resources needed to complete the renovations successfully. Property Inspection: Hire a professional home inspector to thoroughly evaluate the condition of the property before making an offer. A comprehensive inspection will help identify potential structural issues, electrical or plumbing problems, and any other hidden defects. Understanding the property's condition will inform your decision and help you assess the overall cost and feasibility of renovations. Location and Neighborhood: Consider the location and neighborhood of the fixer-upper property. Evaluate the proximity to amenities, schools, transportation, and other factors that contribute to the desirability and potential resale value of the property. Research the market trends in the area to ensure the investment aligns with your long-term goals. Return on Investment (ROI): Assess the potential return on investment for the property. Consider the current market conditions, comparable sales in the area, and the after-repair value (ARV) of the property. Evaluate the potential resale value and rental income, if applicable, to determine if the investment aligns with your financial goals. Time and Project Management: Understand the time commitment required for renovating a fixer-upper property. Consider your availability, timeline expectations, and project management skills. Renovations often take longer than anticipated, so ensure you have a realistic plan in place and consider the impact on your living arrangements during the renovation process. Permits and Zoning Regulations: Research the necessary permits and zoning regulations for the planned renovations. Ensure you understand the local building codes and restrictions that may impact the renovations you have in mind. Familiarize yourself with the permit application process and any associated costs to avoid potential issues down the line. Contingency Plan: Have a contingency plan in case unforeseen challenges arise during the renovation process. Set aside a contingency budget to address unexpected expenses or delays. Being prepared for unexpected hurdles can help you navigate the renovation process more smoothly. It's important to thoroughly evaluate these factors and consult with professionals such as real estate agents, contractors, and financial advisors before purchasing a fixer-upper property in Toronto. Their expertise and guidance can help you make informed decisions and ensure your investment aligns with your goals and expectations. Someone is renting a sketchy shack in Toronto for $1200 a month Renting out space in Toronto — whether to live or run a business — will cost you a pretty penny these days. However, if you're willing to skip basi... blogto.com Read More ... Bank of Canada raises its key interest rate to 5% | CBC News The Bank of Canada raised its benchmark interest rate to five per cent on Wednesday, its highest rate since 2001. Following the announcement, experts diverged on whether Canadians could expect another increase after the summer. cbc.ca Read More ... Kawartha cottage prices crash as mortgage rate hikes take a toll Rising mortgage rates have taken a toll on cottage prices and sales in Peterborough and the Kawarthas this season after average Kawartha cottage prices reached all time highs last year. thepeterboroughexaminer.com Read More ... Bank of Canada interest rates hit 22-year high The last time interest rates were this high was in March 2001. sarnianewstoday.ca Read More ... How local housing markets are responding to Bank of Canada's rate hike The Bank of Canada's June rate hike and the potential for another increase in July have elicited mixed reactions across local housing markets. realestatemagazine.ca Read More ... Rent in this GTA city is $700 lower than in downtown Toronto as prices keep surging With so many people in Toronto struggling to make ends meet as cost of living in the city keeps rising, leaving for greener (read: cheaper) pasture... blogto.com Read More ... Bank of Canada interest hike expected to create financial pinch for Calgary homeowners The Bank of Canada announced Wednesday that it will raise its policy interest rate for the tenth time since March 2022, much to the dismay of some Calgarians as the cost of borrowing becomes more expensive. iheartradio.ca Read More ... EDITORIAL: Starting up a ticking mortgage time bomb To no one’s surprise, the Bank of Canada (BOC) raised interest rates Wednesday by 25 basis points, to 5%. This is the 10th rate hike since March 2022. Citing a heated economy, the BOC statement said it expects consumer spending will slow as the effect of these hikes kicks in. The bank justified the latest hike with a word salad of monetary gobbledegook. The result on consumers is stark and hurtful. The bank is building a ticking mortgage time... msn.com Read More ... How Bank of Canada's Latest Rate Hike Will Impact Mortgage Payments By Investing.com How Bank of Canada's Latest Rate Hike Will Impact Mortgage Payments ca.investing.com Read More ... 'It's really sad': People are being warned about online rental scam A Winnipeg woman is sharing her story about a rental scam in hopes others won't have to deal with what she has gone through recently. winnipeg.ctvnews.ca Read More ... Interest rate hikes weighing on cottage market, where prices are expected to slide While many still dream of days spent at the dock, they're holding back on buying their slice of cottage country until they have better sense of whether the hikes will continue or until they see prices slide. cp24.com Read More ... Here's how much it costs to rent a one-bedroom apartment in Metro Vancouver this July Canada's top five most expensive cities for renters are located in Metro Vancouver. vancouverisawesome.com Read More ... Despite the BoC's growth outlook, Canadians are bracing for recession: TransUnion - Mortgage Rates & Mortgage Broker News in Canada While the Bank of Canada's latest growth forecasts remain positive for the year ahead, Canadians aren't taking any chances. canadianmortgagetrends.com Read More ... Bank of Canada delivers 10th rate hike, markets not convinced this will be the last - Mortgage Rates & Mortgage Broker News in Canada As was widely expected, the Bank of Canada today delivered another quarter-point rate hike today, bringing its benchmark rate to a 22-year high of 5%. canadianmortgagetrends.com Read More ... Bank regulator consulting on proposed mortgage guideline changes Canada's banking regulator has launched consultations on proposed changes to mortgage guidelines to address risks related to borrowers with growing balances. ctvnews.ca Read More ... B.C. mortgage calculator: A simple way to examine interest rate changes | Globalnews.ca Global News has put together a mortgage calculator and some information and tips from Vancity so British Columbians can plan ahead and get the most out of their mortgage. globalnews.ca Read More ... OSFI proposes changes to capital requirements with eye on mortgage risks | Advisor's Edge Regulator says proposals should encourage banks to reduce the number of mortgages that would go into negative amortization advisor.ca Read More ... What mortgage owners need to know about the Bank of Canada's rate hike - BNN Bloomberg Following the Bank of Canada’s latest interest rate hike, experts say Canadian mortgage owners will feel the impact of higher borrowing costs, either in the form of higher monthly payments, extended amortizations or at renewal. bnnbloomberg.ca Read More ... A Majority of Homeowners Nationwide Felt Stress from their Most Recent Homebuying Experience, TD Bank Survey Finds Against the squeeze of rising home prices and low inventory, many homebuyers need solutions to ease the anxiety associated with purchasing a new home. stories.td.com Read More ... What should cottage owners be thinking about now? Amid rising mortgage expenses and costs of ownership, planning conversations are more vital than ever wealthprofessional.ca Read More ... By the numbers: Bank of Canada raises interest rates yet again | TVO Today As the policy rate hits 5 per cent, a recent survey suggests that Ontario has the highest percentage of households at risk of failing to meet their debt. tvo.org Read More ... Urbs vs. Burbs: "We live twice as far from downtown but can get there in a third of the time" Scarborough die-hard Jeff Carolan left Queen Street in search of more space for his growing family. Now, he feels more connected to the city than ever torontolife.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 | 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

12th July 2023 - Greater Toronto Real Estate Insights: Your Daily Brief

💥 Wednesday 12th July 2023 💥 Book Your FREE Consultation! Greater Toronto Real Estate Insights: Your Daily Brief "Pioneering your path to success in Home Buying and Selling with our FREE Reports and coveted new Listings!" Welcome to "Greater Toronto Real Estate Insights: Your Daily Brief!" Our daily newsletter is your essential source for valuable insights and briefings on the Greater Toronto real estate market. We understand the importance of staying informed, and our brief delivers concise and impactful information directly to your inbox. Whether you're a buyer, seller, investor, or industry professional, our curated content covers a wide range of topics, including market trends, investment opportunities, neighborhood profiles, financing options, and more. Stay informed and make informed decisions with our daily briefings. Subscribe now to "Greater Toronto Real Estate Insights: Your Daily Brief" and gain valuable insights into the ever-changing Greater Toronto real estate market. What are the benefits of booking a FREE consultation with a Toronto Real Estate Agent? Booking a free consultation with a Toronto real estate agent can offer several benefits. Here are some advantages of scheduling a consultation: Expert Advice and Guidance: A real estate agent has specialized knowledge and expertise in the Toronto market. They can provide professional advice and guidance tailored to your specific needs and goals. During the consultation, you can discuss your real estate objectives, whether it's buying, selling, or investing, and receive personalized recommendations based on their experience and market insights. Market Insights: Real estate agents have access to up-to-date market data and insights. They can provide you with valuable information on current market conditions, trends, and pricing dynamics specific to Toronto. This knowledge can help you make informed decisions and understand the local market's intricacies, ensuring you are well-equipped to navigate the real estate landscape. Local Expertise: Toronto is a diverse and dynamic city with various neighborhoods and communities. A Toronto real estate agent has in-depth knowledge of different areas, including amenities, school districts, transportation, and lifestyle factors. They can provide you with insights on the neighborhoods that align with your preferences and help you find the right fit for your needs. Customized Strategy and Planning: A real estate agent can develop a customized strategy based on your goals and preferences. They can assess your budget, timeline, and desired property features to help you prioritize and make informed decisions. Whether you're buying, selling, or investing, a tailored approach can increase your chances of success and optimize your outcomes. Access to Listings: Real estate agents have access to a comprehensive database of property listings, including both on-market and off-market opportunities. During the consultation, you can discuss your specific requirements and criteria, allowing the agent to curate a list of suitable properties tailored to your needs. This access can provide you with a competitive advantage in finding the best properties that align with your preferences. Negotiation and Transaction Management: Real estate transactions involve negotiations, paperwork, and legal considerations. A real estate agent can navigate these complexities on your behalf, ensuring you have proper representation and advocating for your best interests. Their negotiation skills and transaction management expertise can help you secure favorable terms, navigate contingencies, and streamline the process. Network of Professionals: Real estate agents typically have an extensive network of professionals, including mortgage brokers, home inspectors, lawyers, and contractors. They can provide referrals to trusted service providers who can assist you throughout the buying or selling process. This network can save you time and effort in finding reliable professionals for various aspects of your real estate transaction. By booking a free consultation with a Toronto real estate agent, you can tap into their knowledge, expertise, and resources. It allows you to discuss your goals, ask questions, and assess their suitability for your real estate needs. Ultimately, a consultation can help you make informed decisions and set you on the path to achieving your real estate objectives in Toronto. Tenants in Mississauga fed up with pests, broken elevators and strangers appearing in hallways and stairwells | insauga Tenants at three buildings in Mississauga are asking the city and their property management company to do more to control pests, alleviate ongoing construction-related disruptions, keep elevators running and increase security.  In May, Peel ACORN, an independent social and economic justice organization comprised of low- and moderate-income Mississauga residents, organized a protest for tenants living […] insauga.com READ MORE ... How to Get Financing for a Cottage in Canada Buying a cottage in Canada involves the right financing. Here's what you should know about cottage ownership, and how you'll pay for it. blog.remax.ca READ MORE ... Canada’s Rising Unemployment Is A “Foolproof” Recession Signal: BMO - Better Dwelling Canada’s economy has been lucky enough to buck recession forecasts, but its luck may be running out. The country’s latest job report showed huge job gains in June. However, it’s the rising unemployment rate that caught the attention of BMO’s chief economist. In a note to investors, they warned the rising rate has a near-foolproof […] betterdwelling.com READ MORE ... B.C. realtor fined more than $100K for igniting wildfire A B.C. man was ordered to pay a $3,000 administrative penalty and more than $100,000 in firefighting costs incurred by the province when a burn pile sparked a wildfire on his property in 2019 biv.com READ MORE ... 5 most ‘affordable’ homes that were sold in Hamilton | inTheHammer Hamilton’s real estate continues to attract attention of first time home buyers with affordable housing options. Here’s a closer look at the top 5 least expensive homes recently sold in the city, a list compiled by real estate website and brokerage Zoocasa, all under $ 500K. 116 Burton St:  This 3-bedroom, 1.5-bathroom semi-detached dwelling is […] insauga.com READ MORE ... Top 5 most expensive homes sold in Hamilton for over $ 2 million | inTheHammer Hamilton’s real estate saw some fluctuations in June, with the average price of home sales capped at $851,359, according to a study by real estate brokerage Zoocasa. However, this didn’t stop residents from buying luxurious properties across the city. The five most expensive homes sold, were all above the $ 2 million mark. From sprawling […] insauga.com READ MORE ... Another rate hike may be looming and Canadians worry they can’t keep up - National | Globalnews.ca Ipsos polling shows 71 per cent of Canadians are worried they can't keep up with the pace of rising interest rates as debt-servicing costs mount. globalnews.ca READ MORE ... 'A sharp rebalancing of demand-supply conditions': RBC says GTA housing market lost steam in June There was a 'sharp rebalancing of demand-supply conditions' in Toronto’s real estate market last month as the Bank of Canada’s recent decision to resume its rate hiking cycle pushed some buyers to the sidelines, a new report from RBC suggests. toronto.ctvnews.ca READ MORE ... Bank regulator consulting on proposed mortgage guideline changes Canada's banking regulator has launched consultations on proposed changes to mortgage guidelines to address risks related to borrowers with growing balances. ctvnews.ca READ MORE ... More than half of Canadians $200 away or less from not being able to pay all of their bills More than half of Canadians say they are $200 away or less from not being able to pay all of their bills at the end of the month, a report by insolvency firm MNP Ltd. said, as higher interest rates and a rising cost of living have stretched budgets. ctvnews.ca READ MORE ... What is Bridge Financing? What is bridge financing? How do you apply? Will it help with your situation? Let’s explore the ins and outs. blog.remax.ca READ MORE ... How local housing markets are responding to Bank of Canada's rate hike The Bank of Canada's June rate hike and the potential for another increase in July have elicited mixed reactions across local housing markets. realestatemagazine.ca READ MORE ... Final week to provide feedback on proposed changes to the Canada Mortgage Bonds program - Mortgage Rates & Mortgage Broker News in Canada This is the final week of the federal government's consultation period for its proposed changes to the Canada Mortgage Bonds (CMB) program. canadianmortgagetrends.com READ MORE ... P.E.I.'s home real estate market moderating, but still tight | CBC News Home shoppers on P.E.I. have had more to choose from this year but the market still favours sellers, according to the latest figures from the P.E.I. Real Estate Association. cbc.ca READ MORE ... Canadian Mortgages Get New Guidelines After Mass Risks Materialize  - Better Dwelling Canadian real estate markets top global bubble lists, but speculators still pile in. Global observers struggle to understand why, but they only need to look at the latest guideline from the Financial Consumer Agency of Canada (FCAC). The government watchdog for consumers recently released the Guideline on Existing Consumer Mortgage Loans in Exceptional Circumstances (Guideline), […] betterdwelling.com READ MORE ... The 30% benchmark for affordable housing is tough. Here’s what it can afford the average worker in different parts of the GTA As of June, the average one-bedroom rental costs about $2,200 across Ontario and more than $2,500 in Toronto. thespec.com READ MORE ... ‘Too good to be true’: American couple falls victim to Revelstoke rental scam - Trail Daily Times In 2021 Canadians lost $12.3 million in merchandise fraud, which includes rental scams trailtimes.ca READ MORE ... Here's how much it costs to rent a one-bedroom apartment in Metro Vancouver this July Canada's top five most expensive cities for renters are located in Metro Vancouver. vancouverisawesome.com READ MORE ... Toronto landlord alleges tenants rented unit on Airbnb at least 30 times without her knowledge in $1.6M lawsuit A Toronto woman has launched a lawsuit seeking more than 1.5 million dollars from Airbnb, the City of Toronto, and two former tenants after the condominium she owns was allegedly rented out on the short-term rental platform dozens of times without her knowledge. cp24.com READ MORE ... Province's 'misguided policies' behind rent hikes, says Gravenhurst reader Letter to the editor. muskokaregion.com READ MORE ... Proposed private student residence could be investment condos Proposed development at the Stone/Gordon intersection would have 532 units with a combined 1,149 bedrooms guelphtoday.com READ MORE ... Home Prices in Urban Canada Won’t Fall. Where to Buy Right Now? DBRS Morningstar thinks that demand will stay strong, while supply will stay weak - so prices won't fall, especially in Toronto and Vancouver. morningstar.ca READ MORE ... House of the Week: $4.4 million for a manor in the Bluffs with a bunkie out back The 5,000-square-foot property sits on half an acre of land and comes with five bedrooms, two terraces, soaring ceilings and cottage-like charm torontolife.com READ MORE ... Barrie to charge developers more for high-density builds. Why the city's treasurer says that's still not recouping enough '(It) has the potential to significantly impact rental affordable-housing projects,' argues representative for developer. simcoe.com READ MORE ... Co-owning a home with strangers on the rise in Vancouver, says realtor - BC | Globalnews.ca Sleeping together all in one bedroom, this Vancouver family sought a bigger space. But like thousands of residents, they couldn't come up with the cash alone. globalnews.ca READ MORE ... Unprecedented Venture Empowers Canadians to Earn Million-Dollar Real Estate Commission | UrbanToronto Real estate investment company 55 Town Centre Holdings is offering Canadians an unprecedented opportunity to turn their phones into a million-dollar cash machine in a bid to expedite the sale of a prestigious commercial property in Scarborough. urbantoronto.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 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 | 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