14th July 2023 - Greater Toronto Real Estate Report: Daily Updates

★ Friday 14th July 2023 ★ FREE Home Evaluation Toronto GTA Greater Toronto Real Estate Report: Daily Updates! "Guiding you towards triumphant Home Buying and Selling outcomes with our Reports and handpicked Listings!" Welcome to the "Greater Toronto Real Estate Report: Daily Updates!" Our daily newsletter is your go-to source for the latest updates, trends, and insights in the Greater Toronto real estate market. We understand that staying informed is crucial, and our report delivers the most relevant and timely 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, new listings, neighborhood spotlights, financing options, and more. Stay ahead of the game and make informed decisions with our daily updates. Subscribe now to the "Greater Toronto Real Estate Report: Daily Updates" and be in the know about all things related to the Greater Toronto real estate market. What Factors are considered during a FREE Home Evaluation to determine the Value of my Home in Toronto? During a free home evaluation in Toronto, several factors are considered to determine the value of your home. Here are some key factors that real estate professionals typically assess: Location: The location of your home is a crucial factor in determining its value. Factors such as proximity to amenities (schools, parks, shopping centers), transportation options, desirability of the neighborhood, and overall market demand for properties in the area play a significant role in assessing the value of your home. Size and Layout: The size of your home, including the number of bedrooms, bathrooms, and overall square footage, is taken into account. The layout and functionality of the property, including the presence of features like open floor plans or additional living spaces, can influence its value. Property Condition: The condition of your home is an important consideration. A well-maintained property with updated features and systems is typically valued higher than one that requires significant repairs or renovations. Factors such as the age of the home, the condition of the roof, plumbing, electrical systems, and the overall state of the interior and exterior are assessed during the evaluation. Recent Comparable Sales: Real estate professionals analyze recently sold properties in your area that are similar to yours in terms of size, features, and location. These comparable sales help determine the fair market value of your home by considering the prices at which similar properties have recently sold. Upgrades and Improvements: Any upgrades or improvements made to your home, such as renovated kitchens or bathrooms, updated flooring, or energy-efficient features, can positively impact its value. The quality and extent of these improvements are taken into account during the evaluation. Market Conditions: The current state of the real estate market in Toronto is a significant factor. Market conditions, including supply and demand dynamics, interest rates, and overall buyer activity, can influence the value of your home. Real estate professionals consider these factors to assess the market value of your property. Unique Features and Desirability: Unique features or characteristics that set your home apart from others in the area, such as a view, a large lot, or architectural details, can impact its value. The desirability of these features and their appeal to potential buyers are evaluated during the home evaluation. Comparable Active Listings: The current active listings in your area are also considered to understand the competition. The listing prices of similar properties on the market at the time of the evaluation provide insights into the price range that buyers are willing to pay for similar homes. It's important to note that a home evaluation is an assessment of the property's value based on various factors and market data. The final determination of value may be influenced by the expertise and experience of the real estate professional conducting the evaluation. Working with a reputable real estate agent or agency in Toronto can provide you with a comprehensive and accurate assessment of your home's value based on these factors. Should you rent or buy in the Greater Toronto Area? The Bank of Canada’s most recent interest rate hike may have some homeowners in Toronto recalculating their finances while renters wonder what this means for their future monthly payments. cp24.com READ MORE ... Expert urges Canadians to hold off on mortgage renewals | CityNews Ottawa Bank of Canada has raised its key interest rate to five per cent, up by 25 basis points. This interest rate hike marks the first time since 2001 to hit five per cent. ottawa.citynews.ca READ MORE ... Bank of Canada's record tightening campaign exposes lenders' mortgage risks The Bank of Canada's interest rate hike on Wednesday and prospects of more increases heighten risks to mortgage lenders as homeowners are likely stay in debt longer, struggling to make higher payments or pay even the interest portion of their home loans, investors and analysts said. ctvnews.ca READ MORE ... By the numbers: What the latest interest rate hike means for your mortgage - Trail Daily Times Examining how 5% interest affects Canadian home owners from coast to coast trailtimes.ca READ MORE ... A1 Equity Mortgage – Providing Knowledge and Expertise for Homeowners A mortgage broker and a bank lender are two distinct entities that play different roles in the lending process. The main difference is that mortgage brokers offer an array of lending options from various lenders. mountainviewtoday.ca READ MORE ... Worried about the rate hike? Windsor mortgage broker offers advice Windsor mortgage broker Rasha Ingratta tells CBC News host Deana Sumanac-Johnson about the impact of yet another rate hike from the Bank of Canada. cbc.ca READ MORE ... Housing affordability worse in cities rife with regulations: CMHC Approval delays and land use regulations by municipalities are limiting housing affordability across Canada, a CMHC study says. Read on. thewhig.com READ MORE ... Jump in home prices requires even larger leap in qualifying income The income required to qualify for a mortgage for an average-priced home in Alberta has risen to nearly $114,000 from $65,000 in 15 years. o.canada.com READ MORE ... Paying Cash vs. Financing a Second Home Thinking of buying a home in the U.S.? Here are some considerations for financing a second home versus paying cash. discover.rbcroyalbank.com READ MORE ... Monthly Brampton real estate sales decline for first time in 2023 Brampton’s real estate market has been on a winning streak so far in 2023 with increasing sales and prices. bramptonguardian.com READ MORE ... Interest rate hike expected to impact Calgary homeowners and homebuyers - Calgary | Globalnews.ca The 0.25 per cent increase to the interest rate from the Bank of Canada represents the equivalent to an extra $15 per month per $100,000 borrowed. globalnews.ca READ MORE ... What the latest interest rate hike means for variable-rate mortgages | Advisor's Edge Here's a by-the-numbers look at payment amounts advisor.ca READ MORE ... Urbs vs. Burbs: "I was afraid Etobicoke would be boring, but raising our kids here is a dream" Growing up west of Toronto, Caitlyn McDonald felt constrained by suburban life. Now, she's starting her own family there—and loving it torontolife.com READ MORE ... 'I think that central banks should exercise more patience' Bank of Canada's rate hike decision putting more pressure on everyday Canadians, says top portfolio manager wealthprofessional.ca READ MORE ... By the numbers: What the latest interest rate hike means for your mortgage This week, the Bank of Canada hiked interest rates yet again, raising its key interest rate by a quarter of a percentage point to 5 per cent, and the prime rate to 7.2 per cent. That means the cost… todayville.com READ MORE ... Average asking price for Canadian rental unit hits record high in June: Rentals.ca A new report says the average asking price for a rental unit in Canada reached a record $2,042 last month amid continued interest rate hikes, population expansion and low unemployment. ctvnews.ca READ MORE ... Brampton ranked most-expensive city to rent in first quarter of 2023 as gap between rental, mortgage payments tightens | inBrampton The gap between what renters and homeowners pay every month continues to close, making Brampton the most expensive city to rent in all of the Greater Toronto Area. insauga.com READ MORE ... Average asking price for Canadian rental unit hits record high in June: report | Globalnews.ca The average cost of a one-bedroom unit in June was $1,780, up 10.2 per cent from the same month in 2022. globalnews.ca READ MORE ... Opinion: Here's how the Bank of Canada's interest rate hike will impact Canadians An economist explains what the Bank of Canada’s interest rate hike to five per cent means for Canadians. alaskahighwaynews.ca READ MORE ... 'Not a room': This $850 rental in Vancouver is just a sofa bed in the living room If privacy isn't that important this might be for you. vancouverisawesome.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

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