📈 21st May 2024 - Rising Interest Rates And Affordability Concerns Continue To Impact Canadian Homebuyers: CMHC

💥 Tuesday 21st May 2024 💥 NEW vs Resale Homes - FREE Report! Curated GTA Real Estate: Daily Hot Topics! "Navigate Your Dream Home: Expert Reports & Latest Listings Inside!" "Curated GTA Real Estate: Daily Hot Topics" is your essential daily briefing on the most pressing and intriguing topics in the Greater Toronto Area real estate market. Every day, we sift through the noise to bring you a curated selection of the latest trends, significant market shifts, and critical insights. Whether you're an investor looking to capitalize on new opportunities, a homeowner monitoring property values, or a real estate enthusiast eager to stay updated, our newsletter delivers the information you need in a concise and informative format. Subscribe to "Curated GTA Real Estate: Daily Hot Topics" and stay informed with the top real estate discussions that are shaping the GTA landscape. Can buyers expect different levels of customization and personalization options when purchasing new homes versus resale homes, and how does this affect overall satisfaction with the purchase? When purchasing a home, buyers often face the decision between choosing a new construction home and a resale home. Each option offers different levels of customization and personalization, which can significantly impact buyer satisfaction. Understanding these differences is crucial for making an informed decision that aligns with personal preferences and lifestyle needs. Customization and Personalization in New Homes Advantages: Builder Customization Options: New construction homes often allow buyers to select finishes, layouts, and other details during the building process. Options might include choices in flooring, countertops, cabinets, appliances, and sometimes more substantial structural choices like room layouts or additional features like solar panels. Modern Standards and Technology: New homes are typically built with the latest building codes and standards, incorporating modern technology and energy-efficient systems, which can be customized according to the buyer's preferences. Impact on Satisfaction: Positive: Buyers who have specific tastes or needs often find that new homes provide a higher satisfaction level as they can tailor the home to meet their exact preferences. The ability to participate in the design process ensures that the home will suit their lifestyle and aesthetic desires. Negative: The process of building and customizing a new home can be lengthy and sometimes more costly than initially anticipated. Delays and unexpected expenses can diminish satisfaction. Customization and Personalization in Resale Homes Advantages: Unique Character and Features: Resale homes can offer unique architectural details and mature landscaping that are often valued for their character. These features are not typically found in new builds. Location and Established Neighborhoods: Resale homes are often located in established neighborhoods with well-developed infrastructure and community amenities, which some buyers might prefer over newer developments. Impact on Satisfaction: Positive: Buyers who value unique architectural styles or prefer living in established neighborhoods might find greater satisfaction in purchasing a resale home. There's also often potential to remodel and renovate these homes, allowing for personalization over time. Negative: Limitations due to existing structures or local regulations can restrict the extent to which a resale home can be customized or modernized. Unexpected maintenance issues or the need for renovations can also lead to dissatisfaction if the costs and efforts exceed the buyer’s expectations. Overall Considerations Cost: Customizing a new home can be initially more expensive than buying a resale home, but it might save money long-term on renovations and energy efficiency. In contrast, while a resale home might appear less expensive, it could require significant investment in updates and repairs. Time: The process of building and customizing a new home can take much longer than purchasing a resale home. Buyers needing immediate occupancy may prefer a resale home despite the potential need for renovations. Conclusion The choice between a new and a resale home largely depends on the buyer’s priorities, whether they are customization, location, unique features, or immediate availability. Understanding the trade-offs and aligning them with personal preferences will greatly affect overall satisfaction with the purchase. Buyers should carefully consider how much they value customization against these factors and plan accordingly, possibly consulting with real estate professionals to make the most informed decision. Rising interest rates and affordability concerns continue to impact Canadian homebuyers: CMHC - REM CMHC’s survey highlights challenges with affordability and rising interest rates shaping decisions, but 79% still view homeownership as a solid long-term investment realestatemagazine.ca READ MORE ... Equifax Canada exploring use of payday loan data in credit score calculation TORONTO — Equifax Canada says it’s exploring how using payday loan data could affect people’s credit scores. The agency says including data sources that aren’t traditionally used to calculate credit… cornwallseawaynews.com READ MORE ... With today's high rates, should you consider an interest-free halal mortgage? | Daily Guardian While not yet common in Canada, halal mortgages have been available for those in the country who seek loans that abide by the Islamic law to buy dailyguardian.ca READ MORE ... The eight most expensive homes for sale in Ottawa this spring | Daily Guardian Ottawa's ultra luxury housing market is blooming like the tulips this spring, with a significant increase in the number of homes sold worth more than $2 dailyguardian.ca READ MORE ... Minimum income to buy a home in Vancouver rises to $246,100: Report If you want to buy a home in Vancouver, you’d need to be making almost $250,000 a year, according to a new report. The minimum annual income required to buy an average $1.2 million home in Vancouver rose to $246,100 over a one-month period from July to August due to a jump in mortgage rates, says Ratehub, an online mortgage broker which looked at housing affordability in 10 cities in Canada. Prices dipped $2,300 between July and August — a... msn.com READ MORE ... Canadian housing permits decline by $6.9 billion in June The number of residential building permits issued in June ticked up slightly from May, but the overall value fell 1.8 per cent to $6.9 billion, a dip that comes after several months of steady growth in the construction sector. The data, released Aug. 9 by Statistics Canada, showed the value decline was largely driven by Ontario, which experienced a significant drop of 11.4 per cent, or $358.1 million. The decline was noteworthy given the... msn.com READ MORE ... CRA ‘does not expect’ tenants to withhold rent from foreign landlords Tenants are only on the hook when they and their landlord have a 'business relationship,' the federal agency said pelhamtoday.ca READ MORE ... Mortgage lenders offering 'extreme discounts' behind the scene: Robert McLister Mortgage specialist Robert McLister talks about how mortgage lenders are offering ‘extreme discounts' behind the scenes. Watch here. cochranetimespost.ca READ MORE ... This Week’s Top Stories: Canada Targets Boomers With Taxes, & Renters To Collect Foreign Landlord Taxes - Better Dwelling Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Capital Gains Change Targets Boomers More Than The Rich Canada’s Budget 2024 includes measures sold as a way to target the rich, but that may not be the case. The budget proposes raising the capital gains inclusion by 50%, with the […] betterdwelling.com READ MORE ... Canadian housing market sees April dip: Rising inventory and balanced conditions signal shifts ahead - REM With more properties available, the market is becoming balanced, giving buyers more choices and bargaining power — though it could be short-lived realestatemagazine.ca READ MORE ... Poll: Huge gap between new rents and what Vancouverites think is "fair" A small fraction think the average rent for a new listing in Vancouver is fair. vancouverisawesome.com READ MORE ... These Are Canada's Most-Searched Cities For Real Estate & They Are Not Vancouver or Toronto Real estate listings in these two Canadian cities are cheaper than the national average. msn.com READ MORE ... CONDO REPORT: Potential buyers taking time to weigh options 'Unfortunately, there has been little urgency from buyers to make a decision on their purchase,' says columnist barrietoday.com READ MORE ... Someone in Ontario is trying to sell a $2.7 million house using Weird Al Yankovic and ninjas Realtors in Ontario are known to go to great lengths to sell homes and attract clients, as evidenced by all the city benches covered in advertiseme... blogto.com READ MORE ... Why has a Toronto spring housing market surge failed to materialize? Sales activity remained muted in April as new listings continued to rise mpamag.com READ MORE ... Canada April jobs report: What it means for interest rates Job gains raise questions about rate cuts mpamag.com READ MORE ... This gorgeous $5M Markham home nails the Frank Lloyd Wright look Known for his philosophy of organic architecture, Frank Lloyd Wright is one of the most recognizable names in modern architecture. His homes are le... blogto.com READ MORE ... Residents push back against luxury condo building coming to Toronto neighbourhood Locals in a pocket of Toronto known as one of the final bastions against the gentrifying forces of shiny new condo towers and real estate flippers ... blogto.com READ MORE ... Ontario's Economy To See Worst Non-Recession Growth Since Early 80s: FAO - Better Dwelling Canada’s largest provincial economy is unlikely to be the driver of an economic boom any time soon. The Financial Accountability Office (FAO) of Ontario released its economic and budget outlook for 2024, and it was not very rosy. The non-partisan government agency, tasked with providing the public with independent analysis and forecasts of the economy, […] betterdwelling.com READ MORE ... Ask a Stager: How can I manage client belongings when preparing a house to sell? - REM Managing client belongings can be daunting and overwhelming — here’s how to ensure the house is the star while not offending the client realestatemagazine.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 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 Info & 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. "Disclaimer: Articles in this newsletter are generated by AI." If you no longer wish to receive these Emails, please Unsubscribe Here

💳 17th May 2024 - Rent Reporting Could Help Canadians Build Credit, but at What Cost?

💥 Friday 17th May 2024 💥 How To Sell A Home That Didn't Sell! GTA Hot Market Watch: Daily Real Estate Insights! "Unlocking Your Home Potential: Free Reports & Exclusive Listings Inside!" "GTA Hot Market Watch: Daily Real Estate Insights" is your premier source for daily updates and strategic insights into the Greater Toronto Area's bustling real estate market. Each day, we deliver sharp, comprehensive analyses of the latest market trends, top property listings, and emerging opportunities directly to your inbox. Whether you're a seasoned investor, a first-time homebuyer, or a real estate professional, our newsletter provides the critical information you need to stay informed and make savvy decisions in the GTA's dynamic property landscape. Join "GTA Hot Market Watch: Daily Real Estate Insights" and ensure you're always one step ahead in this ever-evolving market. How do expired home listings impact the perception of a property among potential buyers, and what steps can sellers take to overcome any negative associations? Expired home listings can create several negative perceptions among potential buyers, affecting the property's marketability. Understanding these perceptions and implementing strategies to overcome them is crucial for sellers looking to re-list their properties successfully. Negative Perceptions Created by Expired Listings Overpricing: Buyers often assume that if a listing expired without a sale, it was likely overpriced relative to the market. This perception can make buyers skeptical about the value of the property. Undesirable Features or Condition: Buyers might speculate that there are unappealing or hidden issues with the property, such as outdated interiors, structural problems, or less obvious defects that deterred previous buyers. Staleness: A home that has been on the market for an extended period can be perceived as stale or undesirable, leading buyers to wonder why others have passed it over. Seller Inflexibility: There may be a perception that the seller is difficult to negotiate with or unwilling to accommodate reasonable requests or market expectations. Strategies to Overcome Negative Perceptions Reassess and Adjust Pricing: Consult with your real estate agent to analyze the current market conditions and comparable sales. Adjust the price to reflect a more accurate market value if overpricing was an issue. Competitive pricing can renew interest in the property. Improve Property Condition: Address any repairable issues that might have deterred previous buyers. Consider making updates or renovations that enhance the property’s appeal, such as fresh paint, updated fixtures, or landscaping improvements. Restage and Refresh Marketing Materials: Update listing photos and descriptions to rejuvenate the property's online presence. Professional staging and high-quality photography can help the property make a strong new impression. Enhanced Marketing Strategies: Employ new marketing tactics. This could involve showcasing the property on additional real estate platforms, utilizing virtual tours, or hosting open houses to attract different buyer segments. Transparency and Disclosure: Be upfront about why the property didn’t sell previously and what has been done to address any issues. Providing a pre-listing home inspection report or disclosures can build trust and mitigate fears about hidden problems. Offer Incentives: Consider offering buyer incentives such as closing cost credits, home warranties, or flexible move-in dates to make the property more appealing and demonstrate seller flexibility. Change Real Estate Agents: Sometimes bringing in a new agent can provide fresh perspectives and renewed vigor in marketing the property. Choose an agent with a strong track record in selling properties in your area. Take a Break: If market conditions aren't favorable, removing the listing from the market temporarily can help. Relisting later, when demand is higher, can sometimes be beneficial. Communicate Proactively: Engage with prospective buyers and agents to receive feedback and address concerns promptly. Understanding buyers’ reservations can provide valuable insights for making necessary adjustments. By effectively addressing these areas, sellers can overcome the negative perceptions associated with an expired listing and increase their chances of selling the property successfully upon relisting. Rent Reporting Could Help Canadians Build Credit, but at What Cost? While many prospective homebuyers could benefit from rent reporting, there are downsides to the optional service. Georgia Rose writes for NerdWallet Canada. Email: grose@nerdwallet.com The post Rent Reporting Could Help Canadians Build Credit, but at What Cost? appeared first on NerdWallet Canada. msn.com READ MORE ... Killer TD variable rate mortgage could be sign of better deals to come Robert McLister: Offer is 101 basis points lower than Canada's benchmark prime rate of 7.2%, but bank appears to be playing coy with this sizzling discount ca.finance.yahoo.com READ MORE ... How Canadians Can Hold Cash Amid High Interest Rates Where to invest money in Canada when interest rates stay higher for longer. morningstar.ca READ MORE ... The most expensive house on the market in Canada drops $10M from its original price It's dropped in price twice. timescolonist.com READ MORE ... Toronto has a concerningly high number of condos sitting on the market Even with interest rates due to ease up later this year, people have still been extremely hesitant to purchase real estate in Toronto — especially ... blogto.com READ MORE ... Glut of homes flood the Toronto market but the problem is nobody is buying them The level of buyer interest in Toronto real estate is simply not meeting the vast supply of homes coming onto the market, as the city remains in so... blogto.com READ MORE ... Canada's housing market sees surge in listings, giving buyers' rare advantage National market is the most balanced since before the pandemic, says CREA ca.finance.yahoo.com READ MORE ... Map: Here are the cheapest neighbourhoods for rent in Metro Vancouver this May Looking for a new place to rent in Metro Vancouver? Here are the cheapest and most expensive options. vancouverisawesome.com READ MORE ... This Montreal area's rent is climbing faster than almost anywhere else in Canada Be glad you don't live here... unless... you do. 😬 msn.com READ MORE ... An ultra-popular home loan right now allows a 3.5% down payment The only type of mortgage loan that has increased in the past two years are those insured by the FHA. ca.finance.yahoo.com READ MORE ... CRA uncovers $1.3 billion in unpaid taxes in B.C. real estate sector After taking a deeper look into B.C.’s real estate sector, Canada’s tax regulator has uncovered $1.3 billion in unpaid tax bills. timescolonist.com READ MORE ... Could 10-year mortgage terms help ease Canadians' 'payment shock' at renewal? After two years of rising interest rates, about half of mortgages in Canada are up for renewal in the next two years and it means some will likely face "payment shock" over what their new rate could be. A new report from Desjardins Group suggests making 10-year mortgage terms more available and common — right now only a few lenders provide them — could help ease that shock, especially if they had been available when rates were lower. Sean Previl reports. msn.com READ MORE ... Ottawa to increase fees on new homes by up to $6,200 The City of Ottawa is hiking the fees on new home construction by 11 per cent, one month after the federal government introduced new funding tied to municipalities freezing development charges. ottawa.ctvnews.ca READ MORE ... Laneway Suite of the Week: How an Annex contractor built a $500,000 in-law unit in his backyard Including heated floors, Douglas fir coffered ceilings, camouflaged storage, a car port and tons of natural light torontolife.com READ MORE ... Canadian Renters Now Required To Collect Foreign Landlord's Taxes, Withhold Rent - Better Dwelling Canadian renters are getting a rough introduction to the country’s foreign investor problem. The Canada Revenue Agency (CRA) just informed tenants they’re on the hook for any unpaid taxes their non-resident landlord may owe. In a bizarre decision, the nation’s tax authority is telling tenants who pay rent to non-resident landlords to withhold a portion […] betterdwelling.com READ MORE ... Toronto apartments for rent: 8 essential tips from experts to help you find your next place Finding Toronto apartments for rent and rental condos in Toronto can be difficult if you don't know what to do. But there are tips from realtors and real estate agents — like places to avoid, neighbourhoods to look at, how to spot a good rental, and more — that can help you. narcity.com READ MORE ... Harold the Mortgage Closer accused of charging ‘vulnerable’ people interest rates up to 76 per cent Gerstel, who operates Harold the Mortgage Closer, ‘is not suitable to be licensed as a mortgage broker’ says the province’s financial services regulator in a proposal outlining six cases against the GTA businessman. thestar.com READ MORE ... May 15 2024 News Release | CREA Statistics stats.crea.ca READ MORE ... This $15M Vaughan mansion is just one of many in what could be the next Bridle Path When you think of Vaughan, you probably think of Canada's Wonderland, Vaughan Mills and maybe the McMichael Canadian Art Collection.  What most pro... blogto.com READ MORE ... Spring housing market: How can mortgage brokers best advise clients? Affordability concerns are continuing for many buyers and borrowers 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 Info & 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 • 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