♿ 8th July 2024 - Renters With Disabilities Live In Fear Of Eviction.

💥 Monday 8th July 2024 💥 Buy With Low Or Zero Down Payment! GTA Real Estate Daily: Hot News Digest! "Transform Your Property Goals: Free Reports & Fresh Listings!" "GTA Real Estate Daily: Hot News Digest" keeps you in the loop with the latest and most compelling updates from the Greater Toronto Area's real estate market. Each day, we deliver a curated selection of market trends, expert analyses, and property insights, ensuring you stay well-informed. Whether you're a buyer, seller, investor, or simply an enthusiast, our digest provides the critical information you need to navigate the ever-evolving real estate landscape. Stay ahead of the curve with "GTA Real Estate Daily: Hot News Digest." How do lenders assess the risk associated with low or zero down payment loans, and what factors can homebuyers focus on to improve their chances of approval? Lenders assess the risk associated with low or zero down payment loans through a variety of factors, focusing on the borrower's creditworthiness, income stability, and the overall financial situation. Here are the key factors they consider and what homebuyers can do to improve their chances of approval: Key Factors Lenders Consider Credit Score Credit History: Lenders review the borrower’s credit history to assess their ability to manage debt responsibly. Credit Score: Higher credit scores indicate lower risk and can improve chances of loan approval, even with low or zero down payment. Income and Employment Stability Income Verification: Lenders require proof of steady income, typically through pay stubs, tax returns, and employment verification. Employment History: A stable employment history demonstrates reliability and reduces perceived risk. Debt-to-Income Ratio (DTI) DTI Calculation: This ratio compares monthly debt payments to gross monthly income. A lower DTI indicates better ability to manage additional debt. Acceptable DTI Levels: Lenders usually prefer a DTI below 43%, but requirements can vary. Loan-to-Value Ratio (LTV) LTV Calculation: This ratio compares the loan amount to the appraised value of the property. Lower LTV ratios are less risky for lenders. Impact of Down Payment: With low or zero down payments, the LTV ratio is higher, increasing lender risk. Savings and Reserves Cash Reserves: Having savings or reserves can provide a safety net, making lenders more comfortable with low down payment loans. Emergency Funds: Demonstrating the ability to cover unexpected expenses adds to borrower reliability. Property Type and Value Property Appraisal: The property must be appraised to determine its market value. Lenders want assurance that the property is worth the loan amount. Property Condition: Well-maintained properties in desirable locations pose less risk. Loan Program and Terms Government-Backed Loans: FHA, VA, and USDA loans have lower down payment requirements and are backed by government agencies, reducing lender risk. Interest Rates and Terms: Adjustable-rate mortgages (ARMs) and fixed-rate mortgages have different risk profiles. Improving Chances of Approval Improve Credit Score Credit Report Review: Obtain and review your credit report for errors and dispute inaccuracies. Timely Payments: Ensure all bills and existing loan payments are made on time. Reduce Debt: Pay down existing debt to lower your DTI and improve your credit score. Stabilize Income and Employment Consistent Employment: Maintain steady employment and avoid job changes close to the loan application period. Proof of Income: Keep detailed records of all income sources, including pay stubs, tax returns, and bank statements. Manage Debt-to-Income Ratio Debt Reduction: Focus on paying down high-interest debts to lower your DTI ratio. Budgeting: Create a budget to manage expenses and avoid taking on new debt before applying for a mortgage. Build Savings and Reserves Emergency Fund: Save enough to cover at least three to six months of living expenses. Additional Savings: Even with a low down payment, having additional savings can reassure lenders of your financial stability. Choose the Right Loan Program Government-Backed Loans: Consider FHA, VA, or USDA loans if you qualify, as they offer more lenient down payment requirements. Loan Counseling: Work with a mortgage broker or loan officer to explore the best loan options for your financial situation. Strengthen Your Application Letter of Explanation: If you have past credit issues or other concerns, provide a letter explaining the circumstances and how you’ve addressed them. Co-Signer: A co-signer with strong credit can improve your chances of loan approval. Property Selection Desirable Properties: Focus on properties in good condition and in desirable locations to make your application more attractive. Appraisal Preparedness: Ensure the property is likely to appraise for the loan amount. Additional Tips Professional Advice: Seek advice from financial advisors or mortgage brokers who can guide you through the process and help you present a strong application. First-Time Homebuyer Programs: Research local and regional programs that offer grants or incentives for first-time homebuyers, which can make approval easier. By focusing on these factors, homebuyers can improve their chances of securing a low or zero down payment loan and achieve their goal of homeownership. Renters with disabilities live in fear of eviction. Now, this man with PTSD sleeps in a shed | CBC News The rental crisis is even more dire for Canadians with disabilities, who have a lower median income but who are also more likely to live in rented dwellings than the total population. This has left some people in precarious living situations. cbc.ca READ MORE ... Renters under pressure: When will the fever break in the hot rental market? - National | Globalnews.ca Some of Canada's tightest rental markets are showing signs of easing. Here's what experts say about when renters might find relief. globalnews.ca READ MORE ... Nearly 40% of new Canadians are considering moving due to housing costs Nearly 40 per cent of recent immigrants to Canada are considering moving to another province or leaving the country altogether due to a lack of housing affordability , a recent poll conducted by the Angus Reid Institute suggests. “If you are a young person who has arrived in Canada in the last 10 years, who is renting in one of Canada’s biggest cities, you know, life is not very happy at the moment,” said Shachi Kurl, president of Angus Reid.... msn.com READ MORE ... These are the areas where Ontario housing prices could see the biggest drop Ontario’s housing market has been red hot for years now, but that may soon change, and some areas could be hit harder than others. toronto.ctvnews.ca READ MORE ... Scugog home prices surge 10.9 per cent to $1.16 million in June 2024 Sales were up 30 per cent and active listings were up 39.7 per cent compared to a year ago durhamregion.com READ MORE ... Whitchurch-Stouffville home prices surge 9.2 per cent to $1.52 million in June 2024 Sales were down 14.3 per cent and active listings were up 80.4 per cent compared to a year ago yorkregion.com READ MORE ... Prospective Kelowna homebuyers backed out of deal, ordered to pay over $300K The offer was higher than the listing price, but the bank refused to overpay for the Ethel Street house. infotel.ca READ MORE ... Landlord and Tenant Board practice is creating renter nightmare scenarios in Ontario Imagine if Ontario's Landlord and Tenant Board decided to evict you and write your landlord a blank cheque you then had to pay. It's not a nightmar... blogto.com READ MORE ... Ontario landlord slammed for sketchy listing where tenants are banned from using kitchen Trying to find a place to rent in the GTA that's within your budget range, in proximity to transit or grocery stores, and doesn't come with a compl... blogto.com READ MORE ... Bank of Canada not alone as rate cuts spike It's the fastest rate of action since the pandemic mpamag.com READ MORE ... Rising condo fees exacerbate Ontario's housing affordability crisis Condo manager shortage in Ontario raises fees for owners mpamag.com READ MORE ... This mansion is one of the most expensive homes for sale in Toronto right now Despite Toronto's home price benchmark declining by 4.6 per cent on a year-over-year basis last month, there are still plenty of properties on the ... blogto.com READ MORE ... Was the BoC's rate cut enough to spur a housing market revival? Move was 'like bringing a butter knife to a gunfight', says mortgage strategist mpamag.com READ MORE ... What's next for Toronto's housing market? Real estate board reacts to latest data mpamag.com READ MORE ... Mortgage costs drop slightly with rate cuts, says RBC Modest decrease in homeownership costs takes place, but challenges remain mpamag.com READ MORE ... Are mortgage borrowers turning away from their banks at renewal time? Homeowners increasingly looking around as renewal nears, says broker mpamag.com READ MORE ... More income needed to qualify for mortgages in Calgary Calgary has been one of Canada’s hottest real estate markets with growing demand increasingly making it costly for buyers to qualify for a mortgage, a new study has found. The report by Ratehub.ca, examining the income required to qualify for a mortgage for the average-priced home in respective markets, noted that the city saw among the largest increases in Canada. To purchase an average-priced home in Calgary in May, cited as $587,100 in the... msn.com READ MORE ... If mortgage rates stay above 6.5%, ‘the chances of an imminent recovery are slim’ for housing demand, Capital Economics says Mortgage applications and sales are weak, to say the least, off the back of dampening demand. 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 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

⏳ 5th July 2024 - Many Canadians In Their 20s And 30s Are Delaying Having Kids — And Some Say High Rent Is A Factor!

💥 Friday 5th July 2024 💥 From Listing To Closing: 9 Step System! Toronto Real Estate Daily: Hot Updates! "Empowering Home Buyers & Sellers: Free Reports & Exclusive Listings!" "Toronto Real Estate Daily: Hot Updates" delivers the freshest and most relevant news from the Greater Toronto Area's real estate market every day. Stay ahead with our comprehensive coverage of market trends, property insights, and expert opinions, ensuring you’re well-informed whether you're a buyer, seller, investor, or real estate enthusiast. Each edition provides essential updates and hot picks to help you navigate the fast-paced real estate landscape. Stay connected and make informed decisions with "Toronto Real Estate Daily: Hot Updates." What role do real estate agents play in facilitating the transition from listing to closing, and how can sellers maximize the value of their agent's services during this critical phase? Real estate agents play a crucial role in facilitating the transition from listing to closing, ensuring a smooth and successful sale process. Here are the key roles they play and how sellers can maximize the value of their agent's services during this critical phase: Key Roles of Real Estate Agents Pricing Strategy Market Analysis: Agents conduct comparative market analyses (CMAs) to determine a competitive listing price. Pricing Advice: They provide strategic pricing advice based on market conditions, recent sales, and property features. Marketing and Exposure Professional Photography: High-quality photos and virtual tours to attract potential buyers. Listing on MLS: Ensuring the property is listed on the Multiple Listing Service (MLS) and other real estate platforms. Advertising: Utilizing online ads, social media, print media, and open houses to reach a broad audience. Handling Inquiries and Showings Responding to Inquiries: Managing calls and emails from interested buyers. Scheduling Showings: Coordinating and conducting property showings to showcase the home’s best features. Feedback Collection: Gathering feedback from potential buyers to adjust marketing strategies if necessary. Negotiation Offer Management: Presenting and advising on offers received. Counteroffers: Negotiating terms and conditions to achieve the best possible price and terms for the seller. Contingencies: Addressing and negotiating any contingencies buyers may include in their offers. Managing Paperwork and Legalities Contract Preparation: Preparing and reviewing all necessary documents and contracts. Compliance: Ensuring all paperwork complies with local laws and regulations. Disclosures: Advising on required property disclosures to avoid legal issues. Facilitating Inspections and Appraisals Inspection Coordination: Scheduling and managing home inspections. Appraisal Management: Coordinating with appraisers and addressing any issues that may arise from the appraisal process. Communication and Coordination Regular Updates: Providing regular updates to keep the seller informed about the progress and any issues. Coordination with Stakeholders: Communicating with buyers, buyer’s agents, attorneys, lenders, and escrow officers to ensure all parties are aligned. Closing Process Final Walkthrough: Coordinating the final walkthrough with the buyer. Closing Documentation: Ensuring all closing documents are prepared and signed. Problem Solving: Resolving any last-minute issues that could delay closing. Maximizing the Value of an Agent's Services Clear Communication Expectations: Clearly communicate your expectations and goals from the outset. Availability: Stay accessible to your agent for quick decision-making and issue resolution. Trust and Collaboration Trust their Expertise: Rely on your agent’s expertise and advice, especially in pricing and negotiations. Collaborative Approach: Work collaboratively with your agent and be open to their suggestions for improving the property’s marketability. Preparation Home Preparation: Follow your agent’s advice on staging, repairs, and improvements to enhance the property’s appeal. Documentation: Gather and provide all necessary documentation and disclosures promptly. Flexible Scheduling Showings and Open Houses: Be flexible with scheduling showings and open houses to maximize exposure to potential buyers. Inspection and Appraisal Access: Ensure the property is accessible for inspections and appraisals. Marketing Support Leverage Their Network: Utilize your agent’s network of photographers, stagers, and contractors for professional services. Social Media Promotion: Share the listing on your social media and ask friends and family to do the same for wider reach. Active Participation Regular Check-Ins: Have regular check-ins with your agent to stay updated on market feedback and any necessary adjustments to the strategy. Feedback Utilization: Act on feedback from showings and open houses to make necessary improvements or adjustments. By effectively leveraging their agent’s expertise and resources, sellers can streamline the process from listing to closing and enhance the chances of a successful sale at the best possible price and terms. Many Canadians in their 20s and 30s are delaying having kids — and some say high rent is a factor | CBC News Anna Smith would like to start a family. But the 27-year-old graduate student, who currently lives with her partner in Toronto in a 500-square-foot apartment, would also like more space. Like many Canadians in their 20s and 30s, she's realizing she can't have both. cbc.ca READ MORE ... TRREB: June Home Buyers Eying Further Interest Rate Relief – TRREB trreb.ca READ MORE ... Trying to sell or buy a home this summer? What a realtor says you should know In the first few weeks of summer, the real estate sector is experiencing an upturn marked by more housing inventory, a Canadian realtor says ctvnews.ca READ MORE ... 'NEGOTIATING POWER': House prices rising in Burlington but falling in Oakville as home sales plummet in both municipalities, new real estate report shows Different trends from previous reports. insidehalton.com READ MORE ... Drop in Windsor-Essex home sales four months in a row Windsor-Essex home sales have dropped for a fourth straight month, according to the Windsor-Essex County Association of Realtors. windsor.ctvnews.ca READ MORE ... 5 most expensive homes come with waterfalls and private pools in Mississauga | insauga Here are five of the most expensive homes sold in Mississauga in June. insauga.com READ MORE ... Greater Toronto home sales down 16% in June despite Bank of Canada's rate cut: board - Mortgage Rates & Mortgage Broker News in Canada The Toronto Regional Real Estate Board says home sales in June declined 16.4% from last year, with many potential buyers staying on the sidelines despite the highly anticipated Bank of Canada interest rate cut. canadianmortgagetrends.com READ MORE ... Condo supply growing as home prices remain flat in Waterloo Region New numbers from the Waterloo Region Association of Realtors show an opportunity for potential homebuyers. kitchener.ctvnews.ca READ MORE ... Lenders in holding pattern while everyone awaits spate of new data Government bond yields , those puppeteers of fixed mortgage rates , have jumped 33 basis points in just a few weeks. Yet, Canada’s most competitive mortgage lenders still saw enough profit margin to justify fixed-rate drops. This past week alone, we’ve seen leading nationally advertised fixed rates fall among the five most popular terms. The drops have been anywhere from two to 14 basis points, depending on the term and whether the mortgage is... msn.com READ MORE ... Bank of Canada's June rate cut was like bringing a butter knife to a gunfight With national home prices treading water, real estate inventory growing and housing affordability still atrocious , last month’s quarter-point rate cut from the Bank of Canada, while helpful, was the economic equivalent of bringing a butter knife to a gunfight. Canadian real estate and overleveraged borrowers need a bigger saviour. A measly 25-basis-point drop in average mortgage rates only translates into a little more than two per cent... msn.com READ MORE ... Toronto Real Estate Sees Fewest Sales In Decades, Record Condo Listings Canceled - Better Dwelling Greater Toronto real estate didn’t get a boost from the race cut cycle that kicked off last month, as the industry hoped. TRREB data shows home prices dropped further as June sales printed the lowest level in decades. Condo demand has become so weak that one bank warned investors that frustrated sellers are canceling listings at […] betterdwelling.com READ MORE ... Homeownership costs easing, but "long way to go" before affordability is restored: RBC - Mortgage Rates & Mortgage Broker News in Canada Borrowers experienced a slight reduction in homeownership costs in the first quarter, despite affordability remaining near its worst level ever. canadianmortgagetrends.com READ MORE ... Fines of $600 coming for some landlords under rental licensing program in Brampton | inBrampton Time is running out for landlords in Brampton to avoid $600 in fines under the city’s controversial rental registration program. insauga.com READ MORE ... Retirement-home residents in B.C. are vulnerable to illegal rent increases: seniors' advocate | CBC News The B.C. seniors advocate said that an investigation by his team found some landlords are routinely failing to comply with basic B.C. rental rules. cbc.ca READ MORE ... Innisfil taking another look at licences for short-term rentals Licences could work in Innisfil, mayor says, but 'I don’t want to put (staff) through months of work ... only for (council) to say no' barrietoday.com READ MORE ... Insolvent landlords group ordered to give up control of Ontario real estate business Group collectively owns more than 600 rental units across province, including in the Sault, Sudbury and Timmins villagereport.ca READ MORE ... House from legendary Toronto TV show Kenny vs Spenny for sale at $2.5 million Legendary and highly controversial 2000s comedy/reality show Kenny vs. Spenny has been but a memory since the show went off the air for good in 201... blogto.com READ MORE ... Toronto is overrun with homes for sale that no one is buying because prices are still sky-high Prices in Toronto's ever-exasperating housing market still won't budge despite plummeting sales numbers and a surge of homes hitting the market, a ... 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 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