🚩 23rd Aug 2023 - Greater Toronto Real Estate Buzz: Daily News Digest

★ Wednesday 23rd August 2023 ★ Buy With Low Or Zero Down Payment! Greater Toronto Real Estate Buzz: Daily News Digest! "Your trusted source for expert guidance, reports, and the best new Listings!" Welcome to "Greater Toronto Real Estate Buzz: Daily News Digest!" Our daily newsletter is your source for a buzzing roundup of the latest news, trends, and insights in the Greater Toronto real estate market. We understand that staying in the loop is crucial, so our news digest delivers the most relevant 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 updates, new listings, investment opportunities, and expert analysis. Join the buzz and make informed decisions with our daily news digest. Subscribe now to "Greater Toronto Real Estate Buzz: Daily News Digest" and stay informed in the fast-paced Greater Toronto real estate scene. What are the eligibility criteria for low or zero down payment homebuying programs in Toronto? Eligibility criteria for low or zero down payment homebuying programs in Toronto can vary based on the specific program and the lender you choose. However, here are some general factors that often play a role in determining eligibility: Credit Score: Lenders typically require a minimum credit score to qualify for these programs. While specific scores may vary, having a higher credit score increases your chances of approval. Income and Debt-to-Income Ratio: Lenders assess your income to ensure you can afford the mortgage payments. A lower debt-to-income ratio (DTI) is favorable, indicating that a smaller portion of your income is committed to debt payments. Stable Employment: Demonstrating a stable employment history and steady income stream is important for lenders to assess your ability to make consistent mortgage payments. Program Specifics: Different programs may have specific eligibility requirements. For example, some programs might be designed for first-time homebuyers, while others could be available to a broader range of buyers. Property Type: Some programs might have restrictions on the type of property you can purchase. Certain programs may apply only to primary residences, not investment properties. Property Location: Depending on the program, there might be restrictions on the location of the property you're purchasing. Some programs are designed to encourage homeownership in specific neighborhoods. Mortgage Insurance: If you're opting for a low or zero down payment, you might need to pay for mortgage insurance to protect the lender in case of default. Eligibility for mortgage insurance can influence your eligibility for the program. Savings and Reserves: While these programs allow for a lower down payment, having some savings and reserves can still be beneficial. Lenders may consider your ability to cover closing costs and unexpected expenses. Education and Counseling: Some programs may require homebuyer education courses or counseling sessions to ensure you understand the responsibilities of homeownership. Lender's Requirements: Keep in mind that lenders may have their own internal criteria beyond what's required for the specific program. Working with a mortgage professional can help you understand these criteria. Down Payment Assistance: Some programs offer down payment assistance grants or loans. Eligibility for these assistance programs may have additional criteria. It's important to research the specific low or zero down payment programs available in Toronto and consult with lenders to understand their requirements. Working with a knowledgeable mortgage broker or real estate agent who specializes in these programs can also help you navigate the eligibility criteria and find the best option for your situation. Calgary couple ghosted, loses $5,400 to Vancouver rental scam - The Nelson Daily Whether it be relocating to a city for a new job or moving out for the first time to study at post-secondary, finding a new place to live is stressful. Scammers know that people in the midst of moving don’t always have time or capacity to do the necessary research.  BBB serving Mainland BC & […] thenelsondaily.com READ MORE ... Several rental scams reported in Waterloo’s University District: WRPS Waterloo regional police are sounding the alarm after receiving several reports of rental fraud in the University District this month. kitchener.ctvnews.ca READ MORE ... Police warn of rental scams as students return to region Waterloo Regional Police Service has already received reports of rental frauds this month cambridgetoday.ca READ MORE ... A plan to solve the rental crisis needs governments to coordinate. Can they? | CityNews Calgary Canada's housing crisis is bad and getting worse, and a huge part of it is a lack of rental units in major cities. calgary.citynews.ca READ MORE ... Would-be tenant taken for $400 in Waterloo university district rental scam Renter e-transferred deposit before fraudster cut off contact therecord.com READ MORE ... Want cheaper housing? Boost supply—but reduce demand too - The Hub When it comes to the housing market, demand matters as much as supply. Indicating to the market that demand via population growth will be lower for the foreseeable future would lower shelter prices today and is a win.  thehub.ca READ MORE ... Report says detached home prices in Toronto, Vancouver and Fraser Valley down Report says detached home prices in Toronto, Vancouver and Fraser Valley down money.ca READ MORE ... What to expect of the Mississauga and Ontario real estate market this late summer going into fall | insauga “As we enter the month of September, primarily due to the pent-up demand for property, I expect home prices to hold despite higher interest rates,” says Mississauga real estate mogul Sam McDadi. McDadi is one of the top and foremost experts in real estate – he has made a career of selling homes for over […] insauga.com READ MORE ... Q1 Price Drop Triggers Q2 Buying Surge of Detached Houses in Toronto, Vancouver Momentum mitigated declining values of detached houses in Toronto and Vancouver in the first half of the year, but prices fell short of 2022. blog.remax.ca READ MORE ... Detached home prices declined in all but 4 Toronto neighbourhoods last quarter: report Fuelled by a drop in prices, there was a 'short burst of home-buying activity' in the Greater Toronto Area (GTA) during this year’s second quarter, but it was cut short by interest rate hikes and a lack of supply, according to a new report from RE/MAX Canada. toronto.ctvnews.ca READ MORE ... House of the Week: $2.7 million for a funky Oakwood Village home made for cherry blossom fans This technicolour 2,600-square-foot property comes with a striking marble fireplace, a spa-like ensuite bathroom and a rooftop view torontolife.com READ MORE ... Canadian Mortgage Borrowers Have Rate Cut FOMO, Snub 5-Year Terms - Better Dwelling Canadian mortgage borrowers won’t take on the risk of a variable rate mortgage, but they’re dreaming of rate cuts. Bank of Canada (BoC) data reveals a record share of mortgage originations had fixed interest terms in June. However, they aren’t opting for a longer, and traditionally more popular, 5-year fixed term. National Bank of Canada […] betterdwelling.com READ MORE ... This $13.5 million Toronto house has an indoor waterfall Right at the end of a private cul-de-sac in the neighbourhood of Hoggs Hollow is this ultra-modern masterpiece of a home.  The four-bedroom, seven-... blogto.com READ MORE ... 33 Home Upgrades That Cost Less Than $100 A little money goes a long way with these imaginative projects. You can do most of them yourself moneytalksnews.com READ MORE ... Buyer-friendly terrain emerges as Canada's housing market cools Amid back-to-back rate hikes and a scorching summer, the Canadian housing market is shifting towards buyers' territory, according to... realestatemagazine.ca READ MORE ... Bank of Canada Is Watching Housing As It Becomes An Inflation Risk: BMO - Better Dwelling Canada’s central bank will be watching home prices carefully when setting interest rates. In a note to investors, BMO Capital Markets explained that falling new home prices reduced the consumer price index (CPI) readings. However, they’re starting to bottom and are likely to become an influence on higher inflation. The Bank of Canada (BoC) is […] betterdwelling.com READ MORE ... The Global Era of Cheap Credit May Be Over, Home Prices To Adjust: BMO - Better Dwelling The era of cheap debt might be over, and it can lead to a big shift for investors. That was the take from BMO Capital Markets, which took a dive into sell-off triggered by rising long-term yields. They found the rising yields aren’t due to rising inflation expectations, but rising real yields across the world. […] betterdwelling.com READ MORE ... Teranet-National Bank HPI records second-highest monthly increase in July In July, the Teranet-National Bank House Price Index surged by 2.4%, the second-highest monthly increase on record after July 2006. realestatemagazine.ca READ MORE ... Detached housing prices fall short in major markets: report Affordability was the greatest market driver during the second quarter, says RE/MAX Canada mpamag.com READ MORE ... Ontario eyes potential tax changes to spur rental construction Ontario's municipal affairs and housing minister says he is looking at potential tax changes to spur the creation of rental units. cp24.com READ MORE ... Here are the parts of Toronto where home prices are surging and dropping the most Even if owning property in Toronto will likely never be in the cards for you, keeping an eye on the city's topsy-turvy real estate market is like w... blogto.com READ MORE ... Property for sale has over 500 rooms — and no doubt has seen many drunk college students Doubt Iowa has seen anything like this recently on the real estate market. ca.sports.yahoo.com READ MORE ... This sad basement unit in Toronto is selling for almost $500K We all know Toronto real estate is beyond unaffordable these days.  It's gotten so bad, charities are helping people who make six-figure incomes bu... blogto.com READ MORE ... Report says detached home prices in Vancouver and Fraser Valley down Report says close to 93% detached houses in Vancouver posted a decline in values biv.com READ MORE ... Long-term view shows Toronto and Vancouver home prices remain elevated despite recent declines - Mortgage Rates & Mortgage Broker News in Canada Despite detached home prices in Toronto and Vancouver posting year-over-year declines in the first half of the year, a longer-term view shows prices are still elevated, and in many cases higher compared to two or three years ago. canadianmortgagetrends.com READ MORE ... This church-turned-house in small-town Ontario has a thoroughly modern interior - Macleans.ca This $1,899,000 home took five years to renovate macleans.ca READ MORE ... ​Canada likely sitting on the largest housing bubble of all time: Strategist - BNN Bloomberg The Canadian housing market is at high risk of unravelling, according to one expert. bnnbloomberg.ca READ MORE ... International students say they want to study in Canada, but staying is a problem if they can't find housing | CBC News Advocates for those who come to Canada to study say more needs to be done at all levels of government to not only build more student housing, but to examine the incentives post-secondary institutions have to bring students to Canada in the first place. cbc.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

📌 21st Aug 2023 - Your Daily Dose: Greater Toronto Real Estate Updates

★ Monday 21st August 2023 ★ Buyer Mistakes: FREE Report! Your Daily Dose: Greater Toronto Real Estate Updates! "Your trusted source for expert guidance, reports, and the best new Listings!" Welcome to "Your Daily Dose: Greater Toronto Real Estate Updates!" Our daily newsletter is your prescription for staying informed about the latest updates, trends, and insights in the Greater Toronto real estate market. We understand the importance of staying current, so our newsletter delivers the most relevant 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 updates, new listings, investment opportunities, and expert analysis. Get your daily dose of knowledge and make informed decisions with our newsletter. Subscribe now to "Your Daily Dose: Greater Toronto Real Estate Updates" and stay ahead in the dynamic Greater Toronto real estate scene. What are the key factors to consider before investing in Toronto real estate to ensure a smart purchase? Investing in Toronto real estate can be a smart move, given the city's dynamic market. However, it's essential to consider several key factors to ensure a wise investment. Here are the factors to keep in mind: Location: Location is paramount in real estate. Choose neighborhoods with strong potential for growth, good infrastructure, proximity to amenities, and low crime rates. Market Research: Conduct thorough market research to understand trends, property values, and demand in different neighborhoods. Toronto's market can vary greatly by area. Property Type: Decide on the type of property that suits your investment goals, whether it's a condo, single-family home, duplex, or multi-unit building. Budget: Determine your budget based on your financial capacity and the property's potential return on investment (ROI). Include not just the purchase price, but also closing costs, renovations, and ongoing expenses. Financing: Explore financing options, including mortgage rates and terms. A lower interest rate can significantly impact your investment's profitability. Cash Flow Analysis: Calculate potential rental income and subtract expenses like mortgage payments, property taxes, insurance, and maintenance. Positive cash flow is essential for a smart investment. Property Condition: Assess the property's condition. A property in need of extensive repairs might require more investment upfront, affecting your ROI. Future Development Plans: Research local development plans and infrastructure projects. New developments can impact property values positively or negatively. Rental Demand: Toronto's rental market is strong due to its population growth and job opportunities. Invest in areas with a high demand for rentals. Property Management: Decide whether you'll manage the property yourself or hire a property management company. Property management can alleviate stress but comes with costs. Laws and Regulations: Understand Toronto's rental laws, zoning regulations, and landlord-tenant rules to ensure compliance and avoid legal issues. Long-Term Goals: Consider your investment horizon. Are you looking for short-term gains or long-term appreciation? Your goals will influence your strategy. Exit Strategy: Have a plan for selling or exiting the investment. Toronto's real estate market can be cyclical, so be prepared for market fluctuations. Economic Factors: Stay informed about Toronto's economic health, job market, and industries. A thriving economy can drive property demand. Risk Tolerance: Real estate is an investment, and like any investment, it carries risks. Assess your risk tolerance and have contingency plans. Diversification: If you're investing in real estate as part of a diversified portfolio, consider how it fits with your other investments. Local Expertise: Consider working with a local real estate agent who knows the Toronto market well. Their insights can be invaluable. Due Diligence: Thoroughly research and analyze properties. Don't rush into a purchase without proper due diligence. Investing in Toronto real estate can be lucrative, but it requires careful planning and research. By considering these factors and seeking advice from professionals, you can make an informed decision and ensure a smart investment. Home prices post second-biggest monthly jump since 2006: Teranet TORONTO — Home prices posted the second-highest increase ever recorded in a single month after the one observed in July 2006, according to the latest Teranet-National Bank composite index. The… cornwallseawaynews.com Read More ... Average home price in Canada climbs and the latest number is depressing The average price of a house in Canada continues to climb and the latest increase might be discouraging for prospective home buyers. According to... blogto.com Read More ... This Week’s Top Stories: Canadian Real Estate Prices Fall & The Era of Cheap Credit Ends - Better Dwelling Time for your cheat sheet on this week’s top stories. Canadian Real Estate The Global Era of Cheap Credit May Be Over, Home Prices To Adjust: BMO One of Canada’s largest banks sees the global era of cheap credit coming to an end. Post-Global Financial Crisis (GFC) the world was flooded with liquidity— pressuring real […] betterdwelling.com Read More ... Brick Townhouse in Toronto Sells for $599,000 Brick Townhouse in Toronto Sells for $599,000 - Off Plan Property Exchange offplanpropertyexchange.com Read More ... Here's how Canada's new tax-free first home savings account works As rental costs soar to unprecedented heights, many Canadians are considering buying a home. But rising mortgage interest rates and inflation have ... blogto.com Read More ... Ottawa needs to turbocharge construction innovation to get homes built faster: experts | CBC News While Canada continues to face a housing crunch, the federal housing agency says the pace of new starts slowed in July after a strong June. cbc.ca Read More ... LACKIE: All mortgage borrowers should be planning for renewal Just when it seemed that we might be able to lean into the idea that the worst could maybe be behind us, last week’s report that inflation ticked back upwards in July served as a sharp reminder that only a fool counts their chickens before they hatch. Our lack of crystal ball notwithstanding, it sure seems that the cautious optimism that the central bank was at long last winning in their battle against inflation may be premature and that perhaps... msn.com Read More ... The tax risks of renting out your home and more of this week’s top real estate stories Plus, this week’s lowest variable and fixed mortgage rates theglobeandmail.com Read More ... Toronto is now so unaffordable that charities are helping people with six figure incomes Toronto has become so overpriced to live in that even people who are earning what most would consider a decent salary are unable to afford the cost... blogto.com Read More ... $2.3-million Little Italy row house with in-law suite is Toronto’s Home of the Week Open-concept main level, hardwood floors, pot lights, built-in speakers throughout, plus a loft level with a bedroom and rooftop terrace are featured. thestar.com Read More ... 6 Most Expensive Homes in Saskatoon Those looking for luxury homes in the city still have some top options.Here are six of the most expensive homes on the market in Saskatoon. saskatoon.ctvnews.ca Read More ... People are blaming Airbnb for Toronto's high rent prices Renters in Toronto are really missing the city's pandemic-era pricing, when we had it made with cheaper apartments than elsewhere in the GTA, landl... blogto.com Read More ... Feds could spur rental construction with tax incentives, financing: experts High housing prices have forced many Canadians to accept that they may never be able to afford buying their own home. But what if they can't afford to rent one? cp24.com Read More ... Rental rates are rising faster in Nova Scotia than overall inflation | CBC News Rent for Nova Scotians went up by an average of 7.5 per cent in July compared to last year, according to the latest consumer price index data from Statistics Canada. cbc.ca Read More ... Tenants to Get Good — or Bad — News on Rents Next Month | The Tyee Housing Minister Ravi Kahlon says government is working to set next year’s rent increase cap. thetyee.ca Read More ... Condo Smarts: Strata owners must budget to protect their investments Strata corporations often underestimate the cost of maintaining their buildings timescolonist.com Read More ... Housing sales are down in N.L., but Realtor association CEO says prices aren't likely to follow | CBC News Newfoundland and Labrador's housing sales are starting to cool off, according to the annual report published by the provincial Realtor association. cbc.ca Read More ... How will my children afford a house in today's market? It’s no surprise housing affordability is a major concern for young Canadians. Due to rising house prices, high interest rates and stagnant wage growth, many young adults perceive home ownership as an unattainable goal. renx.ca Read More ... The Global Era of Cheap Credit May Be Over, Home Prices To Adjust: BMO - Better Dwelling The era of cheap debt might be over, and it can lead to a big shift for investors. That was the take from BMO Capital Markets, which took a dive into sell-off triggered by rising long-term yields. They found the rising yields aren’t due to rising inflation expectations, but rising real yields across the world. […] betterdwelling.com Read More ... Real estate report: Second highest home price increase ever recorded in a single month Home prices in Canada continued to rise in July, according to the Teranet-National Bank composite index. ctvnews.ca Read More ... Sudbury’s cost of homeownership jumps slightly, to $459.8K avg. The latest benchmark price of a Sudbury-area residence (all types) is $459,800, which is a slight drop from the all-time high of $479,500 recorded in March 2022 sudbury.com Read More ... Canadian Homebuilders Face Headwinds: Interest Rates, Labor Gaps, and the Urgent Need for More Homes In a critical period when Canada needs to ramp up its housing production, the construction industry appears subdued. According to thedeepdive.ca Read More ... Canadian Housing At Stand Still - Market Pulse | Investing.com Canada Market Overview Analysis by Harbind Kharod covering: . Read Harbind Kharod's latest article on Investing.com Canada. ca.investing.com Read More ... Is an 'infinity mortgage' really infinite? Experts say probably not, but it's not good Canadians with variable-rate fixed-payment mortgages are seeing their amortization periods stretch to infinity amid high interest rates. Experts explain what's causing this and what the downstream effects could be for borrowers, default rates and the economy. ctvnews.ca Read More ... Fixed mortgage rates surge higher as bond yields break above 4% - Mortgage Rates & Mortgage Broker News in Canada Bond yields broke through a key resistance point this week, leading to a fresh round of fixed mortgage rate increases. canadianmortgagetrends.com Read More ... Posthaste: Some Canadians are regretting their mortgages amid high interest rates Survey finds 21.8% can't afford their current mortgage ca.finance.yahoo.com Read More ... Editor's Note "Welcome to my Newsletter Page! I am a professional Real Estate Agent in Toronto GTA with an Architectural background from India. With a unique combination of design and real estate knowledge, I am dedicated to helping clients find their dream home. My expertise in both fields allows me to understand the potential of a property and how to best showcase it to potential buyers. I am committed to providing excellent service and going above and beyond for my clients. Let me help you navigate the real estate market and find your perfect property in the Greater Toronto Area & Surroundings. Contact me today!" Click Here For Hot New Toronto Regional Real Estate Board [TRREB] MLS® Listings. Call | Email me for more Info on any Greater Toronto Area Listings, Buying, Selling, Investing or Homebuyer's queries. Click Here to View Listings like Real Estate Agents. Click Here For HOMES & CONDOS In Toronto. Click Here For PRE-SALE CONDOS in Toronto. How does Rent-To-Own Homes works? Click Here for Power of Sale Listings. Manoj Atri, REALTOR®  Experienced Toronto GTA Sales Representative with Architectural Background. My forte: Power of Sale | Bank Foreclosures | Fixer Upper | Rent-To-Own Homes | All types of Credits Low or Zero down With Bank Cash-Back | Cash For Renovations & Much More... Re/Max Hallmark Realty Ltd., Brokerage 401-685 Sheppard Ave E, Toronto ON M2K 1B6 Cell: [416] 275-2089 | Office: [416] 494-7653 | Email: Manoj@ManojAtri.com Websites:   Homebuyer Hub | ManojAtri.com | ManojAtri.ca | 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