🏙️ 2nd May 2024 - Toronto Area Condo Market Rents Drop The Most In 15 Years!

💥 Thursday 2nd May 2024 💥 Buyer Mistakes: FREE Report! Toronto's Real Estate Pulse: Daily Hot Market Updates! "Navigate Home Success: Informed Reports & Coveted Listings Inside!" "Toronto's Real Estate Pulse: Daily Hot Market Updates" is your daily guide to the heartbeat of Toronto's dynamic real estate market. Each day, we deliver the freshest and most crucial updates, keeping you in sync with the latest trends, developments, and opportunities. Whether you're a potential buyer, seller, investor, or just keeping an eye on the market, our newsletter provides insightful analysis, highlighting hot properties, emerging neighborhoods, and key market movements. Stay ahead of the curve and make informed decisions with "Toronto's Real Estate Pulse: Daily Hot Market Updates," your essential source for real estate news in Toronto. How Can Buyers Recognize and Avoid Common Financing Mistakes that Might Compromise Their Home Purchase? Buying a home is a significant financial commitment, and navigating the financing process can be complex. Buyers can easily fall into common traps if not careful. Here are several common financing mistakes to recognize and avoid to ensure a smooth home purchase: 1. Not Getting Pre-Approved Mistake: Shopping for homes without a mortgage pre-approval can lead you to look at properties you cannot afford, ultimately wasting time and causing disappointment. Avoidance: Before house hunting, get pre-approved for a mortgage. This will clarify how much you can borrow based on your financial situation and demonstrates to sellers that you are a serious buyer. 2. Ignoring Total Housing Costs Mistake: Focusing only on the mortgage payment without considering other related costs such as property taxes, insurance, homeowners association fees, and maintenance. Avoidance: Calculate the total monthly expenditure you can afford, not just the mortgage payment. Use online calculators or consult with financial advisors to understand all potential homeownership costs. 3. Overextending Financially Mistake: Buying the most expensive home you are approved for without considering future financial goals or potential changes in income. Avoidance: Budget conservatively, keeping in mind other financial goals and potential changes like job transitions or family planning. Ensure there is enough cushion in your budget for unexpected expenses. 4. Changing Jobs or Taking on New Debt Mistake: Making significant changes to your financial situation, such as changing jobs or making large purchases on credit during the mortgage approval process. Avoidance: Maintain your employment status and avoid new debts. Lenders check your credit and employment status again before finalizing your loan, and any significant changes can jeopardize your mortgage approval. 5. Not Shopping Around for a Mortgage Mistake: Accepting the first mortgage offer without comparing rates and terms from multiple lenders. Avoidance: Shop around and negotiate with several lenders. Compare interest rates, fees, and terms. Sometimes lenders will match or beat better offers you’ve received elsewhere. 6. Neglecting Mortgage Rate Locks Mistake: Not locking in a mortgage rate in a fluctuating interest rate market can lead to higher costs if rates rise before closing. Avoidance: Consider locking in the interest rate when you have a good offer, especially if you believe rates might increase in the near future. Understand the terms of the rate lock, including how long it will last and any costs associated with it. 7. Skipping or Skimming Over the Fine Print Mistake: Overlooking the details of your mortgage agreement which might include penalties, balloon payments, or terms that do not suit your situation. Avoidance: Carefully review the mortgage agreement and ask questions about anything unclear. Consult with a real estate attorney or trusted advisor if necessary. 8. Underestimating the Importance of Credit Scores Mistake: Assuming your credit score only affects whether you get a mortgage, not realizing it also impacts the interest rate you’ll be offered. Avoidance: Check your credit score before applying for a mortgage and take steps to improve it if necessary. Pay down debts and avoid late payments. By being aware of these common financing mistakes and taking steps to avoid them, homebuyers can better navigate the complex process of securing a mortgage and purchasing a home, ensuring that they make sound financial decisions aligned with their long-term interests. Toronto area condo market rents drop the most in 15 years Decrease over six-month period biggest outside pandemic period ca.finance.yahoo.com Read More ... Greater Toronto Rental Vacancy Rate Soars 30% Higher, Prices Barely Move - Better Dwelling Greater Toronto’s Great Supply Shortage may be coming to an end, but the narrative is alive and well. Data from developer consulting firm Urbanation shows new purpose-built rental vacancy rates across the Greater Toronto-Hamilton Area (GTHA) have climbed significantly as of Q1 2024. The share of available units is now much higher than pre-2019 rates, […] betterdwelling.com Read More ... B.C. homebuilding going to drop off before rebounding next year: CMHC Canada Mortgage and Housing Corporation also expects vacancies to remain low and rents high vernonmorningstar.com Read More ... Housing in Halifax: Record high construction, low vacancy rates A new report from the Canada Mortgage and Housing Corporation says that Halifax had record-high growth of some housing types. halifax.citynews.ca Read More ... Montreal announces $3.5M to help renters find housing with Moving Day fast approaching Quebec’s Moving Day, on July 1, is exactly two months away, and many are starting to worry whether they’ll have a place to live. Montreal announced $3.5 million to help. “This support is still really needed because most of these tenants don’t have any other places to go and could easily fall into homelessness without […] montreal.citynews.ca Read More ... Developer wants to tear down group of Toronto homes for 63-storey condo tower A towering new addition could soon shake up the landscape of a quiet residential intersection in Toronto's Jarvis and Wellesley neighbourhood. The ... blogto.com Read More ... Ontario home sold at massive loss after 6 failed attempts to sell An Ontario home sold significantly below its original selling price earlier this year demonstrates just how prices tend to fluctuate in the provinc... blogto.com Read More ... B.C. is changing its short-term rental rules. Some owners think that's a mistake | CBC News Property owners in British Columbia say new rules aimed at increasing long-term rental supply fail to consider the consequences for smaller mom-and-pop operators, who may stand to suffer significant financial losses. cbc.ca Read More ... Condo of the Week: $950,000 for a renovated Etobicoke unit overlooking the Humber River The 1,200-square-foot property comes with three bedrooms, an underground parking spot, a giant rooftop terrace and plenty of amenities torontolife.com Read More ... Calgary home sales jumped in April, driven by lower-priced houses, says real estate board | CBC News The Calgary Real Estate Board says 2,881 units were sold last month, while the benchmark price across all home types was $603,700 for April — up 9.9 per cent from a year earlier and one per cent from March. cbc.ca Read More ... 'A perfect storm for sellers': Demand for lower-priced listings driving up Calgary home prices, sales Calgary real estate prices continued to rise in April, as demand for more affordable, higher-density properties remained high. calgary.ctvnews.ca Read More ... New report finds slowdown in cottage sales A report conducted by Remax is shedding light on a lack of cottage sales this season. barrie.ctvnews.ca Read More ... Spotlight: Understanding the landscape of second mortgages in Ontario Borrowing against the equity you've built can be a great solution for debt consolidation once the risk has been evaluated sootoday.com Read More ... The Bank of Mom & Dad is real, and it's doling out money Kelowna realtor Rick Hamer-Jackson is a big advocate of the Bank of Mom & Dad. "Most young adults today would never be able to buy their o. kelownanow.com Read More ... 5 most inexpensive homes sold in Oakville and Halton Hills in April - inHalton | Local Online News While the Halton Region (Oakville, Burlington, Milton and Halton Hills)  is not known for boasting easily attainable homes (in March, the average home price in the region sat at $1,244,298), some homes priced at under $500,000 changed hands last month.  Here’s a look at five of the cheapest homes to change hands in Halton, courtesy […] inhalton.com Read More ... This $750K Toronto bungalow is too cute for words In a city where the average price of a house is $1.2 million, and people rent out tents in their living room for $950 a month, it is a clearly stru... blogto.com Read More ... Toronto's new 91-storey megatower is like nothing else under construction in Canada The massive new 91-storey tower under construction at Yonge and Bloor known as The One will soon break the record for the tallest building in Canad... blogto.com Read More ... Buyers in GTA project from embattled developer out of luck as it goes into receivership Residents eagerly waiting to settle into a sprawling new community going up near the Barrie South GO Station will likely have to put their moving p... blogto.com Read More ... City moves to draft new vacant home tax bylaw Measure would be implemented next year if adopted mpamag.com Read More ... Toronto condo sales stagnate, supply challenges ahead Sluggish condo sales could spell trouble for Toronto's housing supply in the future mpamag.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 GTA 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 • Blog • Pinterest • Tumblr 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

📉 1st May 2024 - Majority Of Aspiring Homeowners Awaiting Rate Cuts Before Buying

💥 Wednesday 1st May 2024 💥 Quick Easy Fix-Ups: FREE Report! Daily GTA Real Estate Eruption: Hot Market Highlights! "Maximize Your Move: Free Reports & Premier Listings Included!" "Daily GTA Real Estate Eruption: Hot Market Highlights" is your explosive daily digest of the most significant developments in the Greater Toronto Area's real estate market. Each day, we bring you fiery insights into the latest trends, market movements, and standout opportunities that are shaping the GTA landscape. Whether you're looking to buy, sell, invest, or simply stay informed, our newsletter is packed with essential information to help you navigate the bustling market. With a focus on hot properties, emerging neighborhoods, and strategic market analysis, "Daily GTA Real Estate Eruption: Hot Market Highlights" ensures you're always well-informed and ready to act in Toronto's ever-evolving real estate scene. How Can Homeowners Address Minor Structural Issues with Quick Easy Fix-Ups Before They Escalate? Addressing minor structural issues promptly is crucial in preventing them from escalating into major, costly problems. Homeowners can undertake quick, easy fix-ups to mitigate these issues early on. Here’s how: 1. Identify and Monitor Cracks Wall and Foundation Cracks: Regularly inspect your home for new or expanding cracks in the walls and foundation. Small hairline cracks might be normal settling, but widening cracks can indicate more serious issues. Quick Fix: For minor cracks, use a crack filler or masonry caulk to seal them and prevent water intrusion, which can exacerbate the problem. Always monitor repaired cracks for changes. 2. Fix Water Leakage Issues Roof and Plumbing Leaks: Check for water stains on ceilings and walls, which often indicate roof or plumbing leaks. Quick Fix: Replace damaged shingles or flashing on the roof. For plumbing, tighten fittings or replace small sections of piping yourself if you're handy. Applying waterproof sealant in areas prone to minor leaks can also be a temporary solution. 3. Strengthen Joists and Beams Sagging Floors: If you notice mild sagging in floors, it might be due to weakened or overloaded floor joists. Quick Fix: Install additional supports such as steel columns or jack posts in the basement or crawlspace to help distribute weight more evenly and support sagging areas. 4. Address Door and Window Issues Sticking Doors/Windows: Changes in alignment may cause doors or windows to stick, which can sometimes be due to foundation shifts. Quick Fix: Minor adjustments can be made by sanding down or trimming doors or windows that stick. Also, check and adjust the hinges and locks for better alignment. 5. Maintain Gutters and Downspouts Poor Drainage: Clogged or improperly aligned gutters and downspouts can lead to water pooling around the foundation, potentially weakening it. Quick Fix: Clean your gutters regularly and ensure downspouts direct water away from the foundation. Consider adding gutter guards to reduce debris accumulation. 6. Improve Soil Grading Soil Settlement: Over time, soil around the home can settle or erode, leading to water runoff and pooling around the foundation. Quick Fix: Add topsoil to improve the grading around your home's exterior, ensuring it slopes away from the foundation to aid in proper drainage. 7. Reinforce Loose Railings Deck and Stair Safety: Loose railings on decks and staircases can be a safety hazard and indicate potential structural neglect. Quick Fix: Tighten all bolts and brackets. If wood is rotten, replace the affected sections. Consider adding additional supports if the original design was under-supported. Important Considerations Professional Advice: For any fix-up, especially those involving structural elements, consult with a structural engineer or a qualified contractor to ensure the solutions are appropriate and safe. Building Codes and Permits: Check local building codes and obtain necessary permits before making structural changes to ensure compliance and safety. Regular Maintenance: Establish a routine maintenance schedule for your home to identify and address issues promptly before they escalate. By proactively addressing minor structural issues with quick, easy fix-ups, homeowners can maintain the integrity and safety of their property, potentially saving on extensive repairs in the future. Majority of aspiring homeowners awaiting rate cuts before buying: BMO survey TORONTO — The majority of Canadians aspiring to buy a home say they will push their plans to next year or later to wait for interest rates to drop, a new survey shows. lakelandtoday.ca Read More ... New homebuyers will stay on the sidelines until rate cuts, BMO poll reveals Many Canadians believe they will never get on the property ladder wealthprofessional.ca Read More ... Should you max out your RRSP before converting it to a RRIF? - MoneySense Here’s what to consider before converting an RRSP to a RRIF. Chris wonders if her husband should top up his RRSP before converting it to a RRIF next year. moneysense.ca Read More ... Growing number of Canadians facing high mortgage renewal rates - Okanagan | Globalnews.ca Financial experts have said some mortgage holders could see an increase of 30 to 40 per cent in their monthly payments when they renew. globalnews.ca Read More ... Mortgage Defaults Accelerating, Toronto Sees Spike in Bank/Power of Sales Mortgage defaults are accelerating the Toronto housing market according to data tracked by broker John Flynn on X.  The Toronto thedeepdive.ca Read More ... House of the Week: $1.3 million for an Orangeville century home steps from a conservation area The 2,000-square-foot property comes with arches all over, an original staircase, shiplap ceilings and a backyard big enough for a wedding torontolife.com Read More ... B.C. secures 8 new sites for middle-income rental housing scheme British Columbia has secured eight new sites for its BC Builds program, in which land owned by the province, non-profits or community groups is pre-zoned to build middle-income rental housing. bc.ctvnews.ca Read More ... Surreal Estate: This lakeside Burlington home's selling price went up sixfold in eight years What house by the 403 would be complete without a pantry the size of a bachelor pad, two EV stations, an indoor pool and an outdoor living room? torontolife.com Read More ... Toronto to crack down on short-term rental operators 'gaming the system' | CBC News Toronto city council says it has strengthened its short-term rental bylaw to crack down on operators who exploit regulatory loopholes. cbc.ca Read More ... Capital gains changes spur cottage market ‘anxiety.’ Will owners rush to sell? - National | Globalnews.ca Owners in Canada's cottage market are grappling with changes proposed in the 2024 federal budget that could affect taxes on capital gains. Here's how the market could react. globalnews.ca Read More ... Re/Max report says cottagers expected to hold on to properties despite proposed capital gains changes Re/Max's 2024 Cottage Trends Report anticipates prices will rise again in 2024. Plus, learn why cottagers are holding on to their properties. cottagelife.com Read More ... Sellers Have an Edge in Atlantic Canada Cottage Market This Year Demand from families, couples and retirees, alongside limited inventory, are expected to continue impacting cottage market sales and prices. blog.remax.ca Read More ... Canadian Real Estate Prices Climbed Faster Than Mortgage Payments - Better Dwelling Canadian mortgage payments went from virtually nothing to the highest level in well over a decade, inflicting pain on mortgage borrowers. However, the value of homes also surged. In fact, from the rate cuts that sent home prices surging in March 2020 to the end of 2023, the growth rate of home prices outpaced the […] betterdwelling.com Read More ... Canada’s recreational real estate market continues ‘gold rush fever’ into 2024, despite supply challenges - REM From Canmore to Mont-Tremblant, Canada's recreational real estate market remains hot in 2024, fueled by diverse buyers and strong demand realestatemagazine.ca Read More ... Ontario Cottages Could See Price Gains in 72% of Markets Ontario cottages saw prices decline in the first quarter of 2024, but the downward trend is expected to turn upward by the end of the year. blog.remax.ca Read More ... Best places to buy real estate in Halifax in 2024 - MoneySense With Halifax real estate sales expected to pick up later this year, these neighbourhoods will offer buyers the best value. moneysense.ca Read More ... How much is a backup power supply for your home?  - MoneySense Extreme weather is the new norm, so it’s smart to prepare for power outages. Battery backup power could be the solution—here’s how much it costs. moneysense.ca Read More ... Cottages in Ontario are getting way cheaper but experts say it won't last long If you've ever considered getting into the cottage market in Ontario, now may be the prime time to do so, as prices in some areas have dropped quit... 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 GTA 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 SearchRealEstateInToronto.ca | Rent-To-Own Homes | ManojAtri.ReMaxHallmarkRealty.ca  Social Media: Facebook Profile • Blog • Pinterest • Tumblr 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