📌 1st Aug 2024 - New 30-Year Amortization For First-Time Homebuyers Explainer!

💥 Thursday 1st August 2024 💥 Buy With Low or Zero Down Payment - FREE Report! GTA Real Estate Daily: Hot Market Insights! "Maximize Your Real Estate Potential: Free Reports & Sizzling Listings!" "GTA Real Estate Daily: Hot Market Insights" delivers the freshest and most relevant updates on the Greater Toronto Area's real estate market. Each day, our newsletter provides a deep dive into market trends, new listings, and significant developments, giving you a comprehensive overview of what's happening in the GTA real estate scene. Whether you're a buyer, seller, investor, or enthusiast, stay informed with our expert analysis and insights to navigate the dynamic real estate landscape effectively. Are there any potential conflicts of interest or biases that homebuyers should be aware of when working with a mortgage agent versus a bank's agent, and how can they navigate these differences? Yes, there can be potential conflicts of interest and biases when working with a mortgage agent versus a bank's mortgage representative. Here’s an overview of these issues and how homebuyers can navigate them: Potential Conflicts of Interest and Biases Mortgage Agent Commission-Based Compensation: Mortgage agents often earn a commission or fee based on the mortgage products they sell. This can sometimes create a bias towards recommending loans that offer them higher commissions, rather than the best fit for the buyer. Multiple Lenders: While mortgage agents have access to multiple lenders and mortgage products, their recommendations might still be influenced by relationships or incentives from specific lenders. Bank's Mortgage Representative Product-Specific Focus: A bank’s mortgage representative typically works with a limited range of products offered by their employer. Their advice and recommendations might be biased towards the bank’s own mortgage products. Institutional Priorities: Bank representatives might prioritize products that benefit the bank's bottom line, rather than focusing solely on what is best for the client. Navigating These Differences Understand Compensation Structures Ask Directly: Inquire about how the mortgage agent or bank representative is compensated. Understanding whether they earn a commission or salary can provide insight into any potential biases in their recommendations. Seek Multiple Opinions Compare Offers: Obtain mortgage quotes and advice from both a mortgage agent and a bank’s representative. This will allow you to compare different options and ensure you are getting a competitive deal. Consult a Financial Advisor: Consider consulting a financial advisor for an objective assessment of mortgage options and advice on how they fit with your overall financial plan. Evaluate Transparency and Communication Ask Questions: Ensure that the mortgage professional is transparent about all terms, fees, and conditions of the mortgage products they recommend. Review Disclosures: Carefully review all disclosures and documentation provided. Look for any potential conflicts of interest or biases that might affect your decision. Research Mortgage Products Do Your Own Research: Educate yourself about different mortgage products and terms. Understanding the basics of mortgages can help you make more informed decisions and recognize if an agent’s recommendations are biased. Check Reviews and References Look for Feedback: Read reviews and seek recommendations from others who have worked with mortgage agents or bank representatives. This can provide insights into their reputation and the experiences of other clients. Negotiate Terms Discuss Terms: Don’t hesitate to negotiate the terms of your mortgage. This includes interest rates, fees, and other conditions. Whether dealing with a mortgage agent or a bank representative, it’s important to advocate for the best possible terms. By being aware of these potential conflicts and biases and taking steps to mitigate them, homebuyers can make more informed and balanced decisions when choosing a mortgage product. New 30-Year Amortization For First-Time Homebuyers Explainer The Canadian government recently announced a new 30-year amortization for insured mortgages for first-time buyers of in Canada as of August 1. immigrationnewscanada.ca READ MORE ... Toronto rents hit three-year low — but brace for a swift comeback: Urbanation Toronto's housing market offered a rare moment of relief for renters, as average rents dropped for the first time in three years. Read on. financialpost.com READ MORE ... Toronto Condo Market Slowdown: Sales Fall, Listings Surge in Q2 2024 The Toronto condo market experienced a notable decline in the second quarter of 2024, with sales dropping nearly 20% compared to the same period last year. According to recent data from the Toronto… thedeepdive.ca READ MORE ... Rising home prices this year: Northern Ontario and the Prairies lead the way Get insights into the Canadian housing market in 2024. Learn about the cities with the most notable price increases realestatemagazine.ca READ MORE ... Condo rents in Toronto region dip for first time in 3 years: Urbanation A new report says condo rents in Canada's mostly densely populated region have dipped for the first time in three years. cp24.com READ MORE ... This abandoned-looking Toronto house is going for $2 million The last time this Toronto home at 106 Willow Ave. was on the market was 2015, when it was listed for $799,000.  It was advertised as a "newly... blogto.com READ MORE ... Changes are coming to mortgage rules. Will they help you afford a new home? New mortgage rules from the federal government taking effect Thursday won't 'move the needle,' according to some experts in the housing industry. ctvnews.ca READ MORE ... Toronto realtor says rate cuts aren't enough to combat "buyer fatigue" Broker of record and co-founder of WE Developments Odeen Eccleston talks buyers and sellers in a post-rate cut Toronto market. streetsoftoronto.com READ MORE ... Could Canada’s housing market wind up like Europe’s? Experts weigh in Explore the potential risks facing Canada's housing market. Will it follow the same path as Europe? Experts share their insights realestatemagazine.ca READ MORE ... A stalement between buyers and sellers is halting the cottage market Buyers' demand for lower prices conflicting with sellers seeking high returns are slowing the market, according to experts. cottagelife.com READ MORE ... Zoocasa lists 10 Ontario cottages that have seen six- and seven-figure price drops At the top of the list are properties in Prince Edward County, Muskoka and Collingwood with price reductions of approximately $1.5 million. toronto.com READ MORE ... Changes are coming to mortgage rules. Will they help you afford a new home? New mortgage rules from the federal government taking effect Thursday won't 'move the needle,' according to some experts in the housing industry. ctvnews.ca READ MORE ... Canadian mortgage rates hit 17-month low amid BoC rate cuts The rate cuts have pushed mortgage rates to their lowest in 17 months, affecting housing markets differently across the country wealthprofessional.ca READ MORE ... Buying Your First Home? Check Out These Neighbourhoods Buying a first home requires some extra planning and research, from the property itself, to the neighbourhood around it. blog.remax.ca READ MORE ... Rental frauds hitting city 'Scammers are adaptable and talented at changing their methods in order to defraud victims' baytoday.ca READ MORE ... Greater Toronto condo rents see first annual drop since 2021 - Mortgage Rates & Mortgage Broker News in Canada A surge in condo completions has led to the first annual decline in GTHA rents since 2021, signalling a temporary market shift. canadianmortgagetrends.com READ MORE ... Toronto condo investors see rents decline despite demand It's the first annual decline in average rents in three years wealthprofessional.ca READ MORE ... A modest proposal for Ontario: Get tough with dodgy landlords | TVO Today OPINION: During a housing crisis, own-use evictions are up in this province. If the government wants to take on bad actors, I have some suggestions. tvo.org READ MORE ... 'A big fat nothing burger,’ Toronto realtor says Canada’s new 30-year amortization period won’t help first-time buyers enter the market A new 30-year amortization period on insured mortgages for first-time homebuyers of new builds won’t help with affordability, a Toronto real estate broker says. nowtoronto.com READ MORE ... Greater Toronto condo rents see first annual drop since 2021 - Mortgage Rates & Mortgage Broker News in Canada A surge in condo completions has led to the first annual decline in GTHA rents since 2021, signalling a temporary market shift. canadianmortgagetrends.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

📢 31st July 2024 - 30-Year Mortgage Amortizations Available For First-Time Homebuyers In Canada Starting Aug. 1

💥 Wednesday 31st July 2024 💥 Your Guide To Toronto GTA Real Estate! Daily Hot Headlines: Toronto Real Estate! "Stay Informed, Make Smart Moves: Free Reports & Exclusive Listings!" "Daily Hot Headlines: Toronto Real Estate" brings you the most important and current news in the Greater Toronto Area's real estate market. Our daily newsletter highlights key trends, emerging opportunities, and expert insights, ensuring you're well-informed about the latest developments. Whether you're buying, selling, investing, or just interested in the market, our curated selection of news and analysis will keep you up-to-date. Stay ahead in the real estate game with "Daily Hot Headlines: Toronto Real Estate." What are the most important considerations for first-time homebuyers in Toronto, and how can they best prepare for their purchase? First-time homebuyers in Toronto should focus on several key considerations to ensure a successful purchase. Here's a detailed guide to help them prepare effectively: 1. Understanding the Market Research Neighborhoods: Familiarize yourself with various neighborhoods in Toronto. Consider factors such as proximity to work, schools, amenities, and public transportation. Market Trends: Stay informed about current market trends, including average home prices, market demand, and the economic factors affecting the real estate market. 2. Financial Preparation Budgeting: Determine how much you can afford to spend on a home, including the down payment, monthly mortgage payments, property taxes, and insurance. Down Payment: Save for a down payment. In Toronto, the minimum down payment varies based on the home's price, but aiming for at least 20% is ideal to avoid high-ratio mortgage insurance. Pre-Approval: Get pre-approved for a mortgage to understand how much you can borrow and show sellers you are a serious buyer. 3. Understanding Additional Costs Closing Costs: Be aware of closing costs such as land transfer taxes, legal fees, home inspection fees, and moving expenses. Maintenance and Repairs: Budget for ongoing maintenance and potential repairs that will arise after purchasing the home. 4. Finding the Right Property Criteria: Define your needs and wants, such as the number of bedrooms, type of property (condo, townhouse, detached home), and must-have features. Property Search: Utilize online property listings, visit open houses, and work with a real estate agent who specializes in the Toronto market to find suitable options. 5. Legal and Contractual Aspects Home Inspection: Hire a professional home inspector to assess the condition of the property and identify any potential issues. Legal Representation: Engage a real estate lawyer to review contracts, handle legal paperwork, and ensure that all aspects of the transaction are legally sound. 6. Negotiation and Offer Offer Strategy: Be prepared to make a competitive offer based on the market conditions and property value. Your real estate agent can provide guidance on making a strong offer. Contingencies: Include any necessary contingencies in your offer, such as financing or inspection contingencies, to protect your interests. 7. Emotional Preparedness Expectations: Be realistic about what you can afford and the trade-offs you might need to make. Patience: The home-buying process can be lengthy and stressful. Stay patient and flexible throughout the process. 8. Post-Purchase Move-In: Plan your move and consider any immediate renovations or improvements you may want to make. Utilities and Services: Set up utilities, services, and address any changes in address for mail and other essential services. By addressing these considerations and preparing thoroughly, first-time homebuyers in Toronto can navigate the real estate market more effectively and make informed decisions throughout the home-buying process. 30-year mortgage amortizations available for first-time homebuyers in Canada starting Aug. 1 First-time homebuyers buying a new build will be able to get 30-year mortgage amortizations insidehalton.com READ MORE... Toronto's Pre-Construction Condo Trends for 2024: A Handbook for Homeowners & Renters! Discover the 2024 trends of pre-construction condos in Toronto. Learn about their benefits, financial advantages, and tips for savvy homeowners & renters! marketbusinessnews.com READ MORE... Airbnb operator says he's facing losses of hundreds of thousands of dollars because of B.C.'s new short-term rental laws Steve Nguyen runs two Airbnb units in a downtown Victoria apartment building, including one decorated and paying homage to the television show 'Friends.' He says he’s still reeling from the news he soon won't be able to operate it as a short-term rental since he doesn’t live there. bc.ctvnews.ca READ MORE... Saskatoon real estate agents accused of mortgage fraud A pair of Saskatoon real estate agents have been charged with multiple counts of fraud following a two-year police investigation. saskatoon.ctvnews.ca READ MORE... Over 80% of Toronto area investors are losing money on new condos A new report from CIBC and Urbanation released on Thursday reveals that the majority of condo investors in the GTA are losing money every month as ... blogto.com READ MORE... More Quebec landlords refusing tenants with any rental board record | CBC News Tenants' rights advocates say landlords openly using records from Quebec's housing tribunal against prospective renters is cause for concern. Though it's recommended landlords do background checks, advocates worry about discrimination. cbc.ca READ MORE... Chrystia Freeland Introduces 30-Year Mortgages, But What Could Be The Real Cost? Finance Minister Chrystia Freeland has announced that starting August 1st, lenders will begin offering 30-year mortgages in a significant shift for the Canadian housing market. This move aims to ma… thedeepdive.ca READ MORE... Exorbitant development and investor costs are bringing Toronto’s condo market to a grinding halt, new report says  Toronto’s condo market is experiencing deteriorating sales not seen in decades, according to a new report. nowtoronto.com READ MORE... Varcoe: As Calgary rent increases cool, sale of $1M homes heats up Two divergent trends are now playing out in Calgary’s housing market, as blistering rent increases are finally slowing down, while the sale of $1 million-plus homes is taking off. The latest report by Rentals.ca finds price increases in Calgary’s rental market cooled to the lowest annual level in more than two years in June. Average rents rose by four per cent to average almost $2,100. While the increase is above the annual rate of inflation,... msn.com READ MORE... Here are the best Ontario cities to rent in for affordability and quality of life: report - NOW Toronto Chatham-Kent, Whitby and North Bay are all prime Ontario locations that renters should keep their eyes on, according to a new report.  nowtoronto.com READ MORE... This $2 million Toronto home is known as the 'Origami House' When Greendot Architects' Titka Safarzadeh and Saied Mahboubi were approached by their client to re-imagine 269 Coleridge Ave. in Toronto, they had... blogto.com READ MORE... The Landlord's Dilemma: Renting to People With Pets Many property owners listen to their "gut" and won't rent to tenants with pets. Data, however, show that pet-friendly housing is good for everyone involved. psychologytoday.com READ MORE... Toronto-area condo rents dip for 1st time in 3 years: Urbanation | Globalnews.ca The report from Urbanation Inc. says average condo rents on new leases in the Greater Toronto and Hamilton area were down 1.2 per cent in the second quarter compared with 2023. globalnews.ca READ MORE... Home collapses; over $640,000 awarded due to water damage from neighbouring property Learn about the duty of care between neighbours and the potential consequences of failing to prevent property damage realestatemagazine.ca READ MORE... History Suggests Stressful Times for the Canadian Housing Market /CNW/ - Mark Twain once said, "History doesn't repeat itself, but it often rhymes." While he wasn't specifically talking about interest rate cycles, many... newswire.ca READ MORE... Toronto lawyer ordered to pay more than $1M after clients said he kept money from real estate, business deals | CBC News A Toronto lawyer well-known in the Chinese community is accused of keeping clients' money after helping them close real estate and business transactions. He's been ordered to pay them more than $1 million, but hasn't. cbc.ca READ MORE... This abandoned-looking Toronto house is going for $2 million The last time this Toronto home at 106 Willow Ave. was on the market was 2015, when it was listed for $799,000.  It was advertised as a "newly... blogto.com READ MORE... Ontario house sold at a significant loss after 5 failed attempts to sell A well-supplied GTA housing market throughout the spring and early summer meant that prospective home buyers benefitted from substantial choice and... blogto.com READ MORE... Canadian banking giant hit by downgrade Stock tumbles after analyst's verdict mpamag.com READ MORE... Big Five Banks Back Most of Toronto’s Negative Cash Flow Condo Investors  - Better Dwelling Canada’s banks have dominated Greater Toronto’s investor mortgage market. CIBC data shows the Big Five captured 75% of investor mortgages on condos completed in Toronto in 2023. There’s just one problem-most of those mortgages are cash flow negative—the rent fails to match the payment, property taxes, and maintenance fees on the unit. The Big Five […] betterdwelling.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