26th July 2023 - Greater Toronto Real Estate Bulletin: Daily Updates

★ Wednesday 26th July 2023 ★ Your Guide To Real Estate Guide! Greater Toronto Real Estate Bulletin: Daily Updates! "Stay ahead of the game with our FREE Reports and a curated selection of fresh Listings!" Welcome to "Greater Toronto Real Estate Bulletin: Daily Updates!" Our daily newsletter is your go-to source for the most relevant and timely updates in the Greater Toronto real estate market. We understand that staying informed is crucial, so our bulletin delivers concise yet comprehensive 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, investment opportunities, and expert opinions. Stay in the loop and make informed decisions with our daily updates. Subscribe now to "Greater Toronto Real Estate Bulletin: Daily Updates" and receive your daily dose of the latest happenings in the dynamic Greater Toronto real estate market. What are the Current Trends and Dynamics of Toronto's Real Estate Market that I should be aware of? Below are some general trends and dynamics that were prevalent in Toronto's real estate market. It's important to consult recent and reliable sources for the latest information. Here are some past trends and dynamics: High Demand and Limited Supply: Toronto's real estate market has historically experienced high demand for housing, particularly in desirable neighborhoods and urban centers. This demand has often outpaced the supply of available properties, leading to competitive bidding and rising property prices. Price Appreciation: Toronto's real estate market has witnessed significant price appreciation over the years, with property values increasing steadily. This trend has made homeownership challenging for first-time buyers and has contributed to a growing interest in alternative housing options, such as condos and townhouses. Condominium Market Growth: The condominium market has been a significant driver of Toronto's real estate landscape. Due to the demand for affordable housing and the popularity of urban living, condos have become an attractive option for buyers and investors alike. Shifts in Buyer Preferences: With changing lifestyles and preferences, buyers have shown increased interest in properties with more space, outdoor areas, and home offices, likely influenced by the COVID-19 pandemic. Impact of Mortgage Stress Test: The introduction of mortgage stress tests by the Canadian government aimed to cool down the housing market and make it more resilient. These stress tests require borrowers to qualify for higher mortgage rates, which may have affected some buyers' purchasing power. Government Policy and Regulations: Government policies, including measures to address housing affordability and speculative buying, have played a role in shaping Toronto's real estate market dynamics. For example, foreign buyers' taxes and vacant property taxes have been implemented to address housing affordability concerns. Rising Rental Demand: As housing affordability remains a challenge for some, the demand for rental properties has increased. Rental rates have been affected by this demand, leading to a competitive rental market. Impact of COVID-19: The COVID-19 pandemic has brought unique challenges and opportunities to the real estate market. It has accelerated some trends, such as the desire for suburban living and the adoption of technology for virtual tours and remote transactions. Please note that real estate markets are dynamic and can change rapidly. It's crucial to consult up-to-date market reports, industry experts, and local real estate professionals to gain accurate insights into the current trends and dynamics of Toronto's real estate market. Hamilton homebuyer faces imminent homelessness as tenants refuse to vacate property A homebuyer in east Hamilton says she'll soon have no where to live because the tenants who live in the home are refusing to leave.  chch.com READ MORE... Hundreds of tenants have gone on rent strike in Toronto. Is that even legal? Here’s what you need to know about rent strikes and the risks involved nationalpost.com READ MORE... Bond yields are back on the rise. Will fixed mortgage rates follow? - Mortgage Rates & Mortgage Broker News in Canada Bond yields are back on the rise this week, which observers say could keep upward pressure on fixed mortgage rates if the trend continues. canadianmortgagetrends.com READ MORE... Home sale trends 'indicate balanced market conditions’ Home sale trends ‘indicate balanced market conditions’ brantfordexpositor.ca READ MORE... Luxury market facing challenges amid foreign homebuyer ban High-profile professionals and global talent looking to buy are feeling the effects of Canada’s foreign homebuyer ban, according to Engel & Völkers realestatemagazine.ca READ MORE... Is Work-from-Home Threatening Commercial Real Estate and U.S. Banks? As commercial real estate continues to struggle, banks in the U.S.will feel the brunt. Canadian banks will not be as impacted. morningstar.ca READ MORE... Higher Income Canadians Turn to Habitat for Humanity As Housing Prices Skyrocket By Investing.com Higher Income Canadians Turn to Habitat for Humanity As Housing Prices Skyrocket ca.investing.com READ MORE... CMHC says housing starts surged in June to slightly reverse downward trend Canada's housing agency says the annual pace of housing starts in June posted its largest month-over-month increase in a decade to slightly reverse a downward trend seen in recent months. Canada Mortgage and Housing Corp. says the seasonally adjusted annual rate of housing starts in Canada totalled 281,373 units in June, up from 200,018 in May as there was a spike in activity in the more volatile mutli-unit category. The rate of multi-unit urban starts rose 59 per cent to 219,914, while the rate of starts for single-detached urban homes increased three per cent to 42,901. Toronto and Vancouver led building.ca READ MORE... Toronto's futuristic new waterfront district is moving closer to reality The futuristic Quayside project is set to transform a section of Toronto's waterfront into an architectural wonderland — and the development area i... blogto.com READ MORE... Bank of Canada seen holding at 5% Find out if a recession is on the cards… mpamag.com READ MORE... GTA new home market significantly decelerates Every asset class posted weaker performance compared to long-term trends despite sharp annual increases in activity mpamag.com READ MORE... Neighbour dispute over driveway and location of well ends up in court A dispute between neighbours in Ayr, Ont. centred around a driveway and well. The applicant claimed ownership of the disputed area, but the respondent argued otherwise. realestatemagazine.ca READ MORE... 'This is a very serious issue': Growing concerns over illegal Airbnb listings flooding the Vancouver market City Councillor Lenny Zhou says he's working with staff to figure out just how many illegal short-term rental units are operating in Vancouver. bc.ctvnews.ca READ MORE... Canada sees "spectacular" jump in house prices in June The Canadian housing market saw a remarkable surge in the Teranet-National Bank HPI in June, marking the largest monthly increase since 2006. realestatemagazine.ca READ MORE... The Best Luxury Homes in Alberta Listed for Under $1 Million With Canada’s volatile housing market, Alberta has been making waves for some of its more accessible luxury homes. hgtv.ca READ MORE... Canada’s Government Spending Helped Interest Rates Soar: BMO - Better Dwelling Canada’s economy has been a raging inferno of excess demand, and policymakers are throwing gas on it. That was the take in a new BMO Capital Markets memo warning that Federal spending is outpacing the country’s economic output, contributing to excess demand and higher inflation. As a result, the bank warns that interest rates have […] betterdwelling.com READ MORE... Report reveals how much Hamilton homeowners could pay in interest | inTheHammer Newer homeowners in Hamilton will feel the financial pain more in the wake of the Bank of Canada’s latest interest rate hike, according to a new report. “While lenders are willing to amortize your mortgage over 25 or even 30 years, the amount paid in interest is quite substantial, especially in the first few years […] insauga.com READ MORE... Cottage of the Week: $2.6 million for a Hastings County chalet with a fishbowl sauna overlooking a forest The 5,000-square-foot retreat also comes with 12-foot window walls, sparkling Douglas fir ceilings and a killer view of North Lake torontolife.com READ MORE... Bank of Canada rate likely to remain elevated for foreseeable future: BMO The central bank continues to face significant challenges in its quest to restore price stability mpamag.com READ MORE... Luxury realtors are worried that the ultra-rich are now backing off Toronto's market As progressively more people abandon Toronto's housing market thanks to unaffordable prices compounded with record high mortgage rate inflation, pr... blogto.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

25th July 2023 - Greater Toronto Real Estate Trends Unveiled: Daily Edition

★ Tuesday 25th July 2023 ★ Extra Home Buying Costs - FREE Report! Greater Toronto Real Estate Trends Unveiled: Daily Edition! "Discover the winning formula for Home Buying and Selling with our Reports and Curated Listings!" Welcome to "Greater Toronto Real Estate Trends Unveiled: Daily Edition!" Our daily newsletter is your exclusive access to unveiling the latest trends in the Greater Toronto real estate market. We understand that staying ahead of the curve is essential, so we bring you the most revealing and insightful trends, updates, and expert analysis straight to your inbox. Whether you're a buyer, seller, investor, or industry enthusiast, our curated content covers a wide range of topics, including market movements, new listings, investment opportunities, and neighborhood showcases. Unveil the secrets of the market and make informed decisions with our daily edition. Subscribe now to "Greater Toronto Real Estate Trends Unveiled: Daily Edition" and be at the forefront of the ever-evolving Greater Toronto real estate scene. What are the additional costs that Homebuyers need to be aware of beyond the Purchase Price in Toronto? Beyond the purchase price, homebuyers in Toronto need to be aware of additional costs associated with buying a property. These costs can significantly impact the overall budget and should be considered during the homebuying process. Some of the essential additional costs include: Land Transfer Tax (LTT): In Toronto, homebuyers are subject to both the provincial and municipal land transfer taxes. The amount of LTT varies based on the purchase price of the property. First-time homebuyers may be eligible for partial rebates on these taxes. Legal Fees and Disbursements: Hiring a real estate lawyer is essential to handle the legal aspects of the transaction. Legal fees and disbursements include charges for title searches, document preparation, and other legal services. Home Inspection Fee: While not mandatory, a home inspection is highly recommended to assess the condition of the property thoroughly. The cost of a home inspection can vary based on the size and complexity of the home. Mortgage Insurance: If your down payment is less than 20% of the purchase price, you may need to obtain mortgage insurance. This insurance protects the lender in case of default and is an additional cost for the borrower. Appraisal Fee: Some lenders may require an appraisal to determine the property's value. The homebuyer is typically responsible for covering the cost of the appraisal. Property Insurance: Homebuyers need to arrange property insurance to protect their investment. The cost of insurance varies based on the property's size, location, and coverage. Title Insurance: Title insurance provides protection against potential defects or issues with the property's title. The cost of title insurance is a one-time premium paid at the time of closing. Property Tax Adjustment: Property taxes are usually paid by the seller until the closing date. As a result, the homebuyer will need to reimburse the seller for the portion of property taxes that they will be responsible for going forward. Utilities and Prepaid Expenses: The homebuyer will need to pay for utilities such as gas, electricity, water, and other prepaid expenses like prepaid property taxes or condo fees. Moving Costs: Moving expenses can include hiring a moving company, renting a moving truck, or any other costs associated with relocating to the new property. Renovation and Repair Costs: If the property requires renovations or repairs after the purchase, these costs should be factored into the overall budget. It's crucial for homebuyers to budget for these additional costs in addition to the down payment and mortgage payments. Being aware of these expenses helps ensure that homebuyers are financially prepared for the full cost of homeownership in Toronto. Working with a knowledgeable real estate agent and a reputable mortgage professional can provide valuable guidance and help you navigate these costs during the homebuying process. What are your rights as a tenant when your landlord wants to sell in Ontario? Tenants in Ontario have several options if a landlord wants to sell their rental home and chief among them is they don't have to move out. toronto.citynews.ca READ MORE ... Toronto home prices are tanking as people abandon the turbulent market Buyers are pulling away from Toronto's real estate market, new home prices are on the decline, and experts are pinning the blame, at least in part,... blogto.com READ MORE ... Rising interest rates a factor as new homes sales dip in GTA: BILD Although new home sales in the Greater Toronto Area were up in June, the Building Industry and Land Development Association (BILD) says sales have dipped “significantly below” the 10-year average. cp24.com READ MORE ... You'd need to work 94 hours at minimum wage to afford 2-bedroom apartment in Oshawa, Whitby or Clarington: report Even those making "living wage" of $23.15 in GTA can't afford rent as rates go higher durhamregion.com READ MORE ... Renters call for action against ‘predatory’ corporate landlords with rallies in Brampton and Hamilton | inBrampton Housing advocates in Brampton and Hamilton are calling on Ottawa to safeguard renters against what have been called “predatory” landlords. insauga.com READ MORE ... Tenants of the new Hunt Terraces apartment building in Peterborough to get a rent break $2.5M in federal, provincial funding announced to decrease rent rates for 65 of the 85 units thepeterboroughexaminer.com READ MORE ... Why Fewer Properties Are Being Listed Right Now We know Canada is experiencing a housing supply shortage. But why are there fewer properties being listed right now? blog.remax.ca READ MORE ... Canadian Mortgage Borrowing Is Showing Nearly Zero Real Growth - Better Dwelling Higher interest rates did something even a pandemic couldn’t—it slowed Canadian mortgage borrowing. Bank of Canada (BoC) data shows that mortgage credit continues to decelerate in May. When inflation is factored in, mortgage credit growth falls to a level rarely seen in Canada.  Canadians Owe Over $2.1 Trillion In Mortgage Debt  Canadian mortgage debt is […] betterdwelling.com READ MORE ... Has the Bank of Canada gone too far with its rate hikes? CIBC's Tal thinks so. - Mortgage Rates & Mortgage Broker News in Canada CIBC's Benjamin Tal says that the Bank of Canada has chosen to err on the side of too many hikes rather than too few for one simple reason: its bias towards fighting inflation. canadianmortgagetrends.com READ MORE ... 15 highrise megaprojects that could reshape Ottawa's skyline | CBC News A look at some of the most ambitious developments on the table that could change the city's skyline and suburbs. cbc.ca READ MORE ... The Ultimate Beginner's Guide to Real Estate Investing Real estate investing can be a lucrative endeavor, but it requires knowledge and understanding of the market. As you may be aware, this form of investment, like theseeker.ca READ MORE ... Homes are selling twice as fast as six months ago in Mississauga | insauga The real estate market is back on an upswing with homes selling twice as fast as six months ago in Mississauga. insauga.com READ MORE ... New Stats Give Insight Into Renovictions in Nova Scotia - Huddle.Today According to these numbers, tenants have a good chance of fighting a renoviction inside the residential tenancy process. huddle.today READ MORE ... Scarborough couple own a home and rent-out other properties, but desperately need help budgeting Sunny, 31, and Ava, 30, are homeowners who have been recently hit with higher interest rates on their mortgage. They own a property in Scarborough where they live and rent toronto.com READ MORE ... Homes in Niagara Falls and St. Catharines sitting on the market for longer than in other Ontario cities | inNiagaraRegion If you plan on selling your Niagara Falls or St. Catharines home this summer, your dwelling might spend a few more days on the market than, say, a home in nearby Hamilton.  Real estate website and brokerage Zoocasa recently released a report comparing sales activity across major Ontario cities. They found that homes in Niagara […] insauga.com READ MORE ... Homes are selling faster as real estate market heats up in Milton, Burlington, Oakville | inHalton After a real estate lull early this year, the home market has heated up again in Milton, Burlington, Oakville and Halton Hills inhalton.com READ MORE ... The latest in mortgage news: record population growth to keep upward pressure on home prices - Mortgage Rates & Mortgage Broker News in Canada Canada's expected population growth will worsen the already limited housing supply and result in even higher home prices, according to a new report canadianmortgagetrends.com READ MORE ... The return of the vendor take-back mortgage Vendor take-back mortgages, a financing option popular in the past, are making a comeback, and realtors should pay attention. realestatemagazine.ca READ MORE ... B.C. homeowners are 'staying the course' on mortgage payments Mortgage delinquencies remain low but some anecdotal evidence shows cracks in financial resilience. timescolonist.com READ MORE ... Ontario’s Most Competitive Real Estate Markets: Where Are Houses Selling the Fastest? | Zoocasa Blog Discover the hottest and most competitive real estate markets in Ontario, where houses are selling at lightning speed. Uncover the key factors driving the fast-paced sales and gain insights into the current trends in the Ontario housing market. zoocasa.com READ MORE ... Compare tenant insurance quotes online - MoneySense Tenant insurance policies provide coverage for personal belongings and protect a tenant against liability. Here’s how to get a good tenant insurance quote. moneysense.ca READ MORE ... As Manitoba’s rent increase guideline goes up, tenants and advocates call for action - Winnipeg | Globalnews.ca The Manitoba government has set the annual rent increase guideline to three per cent and community advocates fear it will have big impacts on low and fixed income neighbourhoods. globalnews.ca READ MORE ... Renewing a mortgage this year? Here's what the latest rate hike means for you | CBC News The Bank of Canada's unprecedented campaign of rate hikes since early 2022 have meant higher payments for many already. But with millions more set to renew soon, the pain will spread to just about everyone. cbc.ca READ MORE ... Should you use the RRSP Home Buyers’ Plan on a mixed-use property? - MoneySense You can purchase a mixed-use property through the HBP. However, transferring funds to a first-home savings account first may give you more flexibility. moneysense.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