🏗️ 16th Aug 2024 - Toronto’s Condo Market To ‘Get Worse’ As Pre-Construction Starts ‘Falling Off A Cliff’: Expert!

💥 Friday 16th August 2024 💥 Toronto Real Estate Fixer Upper - Myths & Facts! Hot Market Watch: Toronto Real Estate Daily! "Transforming Home Buying & Selling: Expert Reports & Coveted Listings!" "Hot Market Watch: Toronto Real Estate Daily" is your go-to source for the latest updates and insights into Toronto's vibrant real estate market. Every day, we bring you the most critical news, emerging trends, and expert analysis to help you navigate the complexities of buying, selling, or investing in the Toronto area. Stay ahead of the curve with daily updates that provide a clear snapshot of the market's hottest opportunities and movements. Make informed decisions with "Hot Market Watch: Toronto Real Estate Daily." What Strategies Can Buyers Employ to Identify Fixer Upper Properties with Hidden Potential Amidst Market Hype and Speculation? Identifying fixer-upper properties with hidden potential requires a combination of strategic approaches, thorough research, and a keen eye for detail. Here are some effective strategies buyers can employ to find these properties amidst market hype and speculation: 1. Work with an Experienced Real Estate Agent Local Expertise: Choose a real estate agent with extensive experience in identifying and evaluating fixer-upper properties. They can provide insights into neighborhoods with potential for appreciation and help you spot undervalued properties. Network Connections: Agents often have access to off-market listings and properties that may not yet be widely advertised, giving you an edge in finding hidden gems. 2. Focus on Emerging Neighborhoods Gentrification: Look for neighborhoods undergoing gentrification or revitalization. Properties in these areas might be more affordable now but have significant potential for future appreciation. Up-and-Coming Areas: Research areas that are projected to see growth due to new developments, improved infrastructure, or economic changes. 3. Analyze Property History Previous Listings: Review the property’s history, including past listings, price changes, and how long it has been on the market. Properties that have been on the market for a long time might offer negotiation opportunities. Renovation History: Check if the property has had previous renovations. Sometimes, older renovations may need updating, but they can provide a solid foundation for further improvements. 4. Evaluate the Property’s Structure and Layout Foundation and Roof: Look for properties with strong structural foundations and roofs. While cosmetic issues can be addressed, structural problems can be more costly and complex. Potential for Expansion: Assess the property’s layout and see if there is room for expansion or reconfiguration. Properties with flexible floor plans can offer more opportunities for renovation. 5. Examine Market Comparisons Comparable Sales: Compare the property with similar homes in the area that have been renovated. This can give you an idea of the potential resale value after improvements. Market Trends: Understand current market trends to identify properties that are undervalued compared to recent sales. 6. Inspect for Hidden Potential Unfinished Areas: Look for unfinished basements, attics, or garages that could be converted into livable space. Unique Features: Identify any unique architectural features or historical elements that could be restored and add value. 7. Calculate Renovation Costs Budgeting: Estimate the cost of necessary renovations and improvements. Get quotes from contractors or use renovation cost calculators to gauge the potential financial outlay. Return on Investment (ROI): Calculate the potential ROI by comparing the cost of renovations with the anticipated increase in property value. 8. Attend Open Houses and Auctions Open Houses: Attend open houses to get a firsthand look at properties and assess their condition. Pay attention to details that might not be visible in online listings. Auctions: Consider attending property auctions where fixer-uppers are often sold at lower prices. Auctions can be a good source of properties with hidden potential. 9. Leverage Technology and Data Tools Online Platforms: Use real estate websites and apps to filter for fixer-upper properties. Some platforms offer features that highlight properties with potential. Data Analytics: Utilize data analytics tools to assess property trends and identify areas with high potential for appreciation. 10. Consult Renovation Specialists Home Inspectors: Hire a home inspector to assess the property’s condition and identify any hidden issues. Their expertise can help you gauge the true potential of the property. Contractors: Consult with renovation contractors who can provide insights into the feasibility of various improvements and the cost involved. 11. Consider Long-Term Potential Future Growth: Look at long-term factors such as planned infrastructure developments, changes in zoning laws, or upcoming neighborhood improvements. Investment Potential: Evaluate whether the property aligns with your long-term investment goals, including rental income potential or future resale value. By employing these strategies, buyers can effectively identify fixer-upper properties with hidden potential, navigate market hype, and make informed decisions about their renovation projects. Toronto’s condo market to ‘get worse’ as pre-construction starts ‘falling off a cliff’: expert bnnbloomberg.ca Read More ... Is a 30-year mortgage right for you? After qualifying, some Canadians will now be able to stretch their mortgage amortization over 30 years. But what's the catch? cbc.ca Read More ... GTA home sales ticking downward despite interest rate drops: TRREB | Advisor.ca Economist warns people to be 'prudent' about any rebound in market activity advisor.ca Read More ... New program could see homeowners incentivized for adding units The City of Cambridge is looking at a program that would incentivize property owners to build additional residential units. kitchener.citynews.ca Read More ... We’re close to a 6% mortgage rate reality, but it isn’t enough to jump-start the housing market “It seems that borrowing costs would have to fall below 5% to see a full recovery in home buying,” a Capital Economics economist wrote. ca.finance.yahoo.com Read More ... 'Automation is coming': How to thrive in the age of AI CMP’s upcoming summit is the must-attend event of the year for mortgage professionals mpamag.com Read More ... 'The tide is beginning to turn' as investors and move-up buyers drive detached home sales, says Re/Max A Re/Max Canada report found seasoned buyers and investors drove detached home purchases in Canada’s priciest markets. Find out more. communitypress.ca Read More ... The Best Cities for Torontonians to Rentvest In By Zoocasa The Best Cities for Torontonians to Rentvest In ca.investing.com Read More ... Hamilton rental rates jump for the first time in months Rental rates for one-bedroom apartments grew for the first time since at least April thespec.com Read More ... Parking spots are adding a ridiculous amount to the cost of Toronto condos Trying to find parking in Toronto is almost always guaranteed to be an arduous and costly affair, with fewer and fewer options as old spaces or ent... blogto.com Read More ... Toronto Mortgage Delinquency Rate Doubles, Hits 8 Year High - Better Dwelling Toronto mortgage delinquencies are surging, doubling over the past year to hit the highest rate since 2016—and they're still climbing. betterdwelling.com Read More ... B.C. detached home real estate market picking up: report If you were hoping to capitalize on a slowing BC real estate market. and purchase a detached home, reports suggest the market is heating up. vancouver.citynews.ca Read More ... Halton One of Top-Performing Detached Segments in GTA Real Estate Market Value shoppers drive demand for detached homes in Halton, which was among the top performing areas in the GTA real estate market. blog.remax.ca Read More ... Here are the parts of Toronto where the housing market is heating back up Anyone with any skin in Toronto's real estate game has been holding out hope that the city's dormant market will pick back up with the arrival of l... blogto.com Read More ... Nearly half of Canadians say rising prices make it harder to cover daily expenses Nearly half, or 45 per cent, of Canadians say rising prices are 'greatly impacting' their ability to meet day-to-day expenses, which is 12 percentage points higher than two years ago, according to a Statistics Canada study. ctvnews.ca Read More ... July home sales dipped on monthly basis, but up from a year ago, says CREA | CBC News Canadian home sales edged back by 0.7 per cent in July, according to the Canadian Real Estate Association. cbc.ca Read More ... Partially destroyed Toronto house is selling for $800,000 as an 'exceptional opportunity' As the saying goes: "another man's trash is another man's treasure," and that saying could not be more true than with 25 Homestead Rd. in... blogto.com Read More ... Canadian Real Estate Prices Slip, Lower Peaks Print Bearish Sign - Better Dwelling Last month Canadian real estate prices continued their path to a lighter future. Canadian Real Estate Association (CREA) data shows the price of a composite benchmark (typical) home fell in July. It marked half a year of slowing annual growth, as rate cuts fail to rejuvenate demand for homes at current prices. Home prices have […] betterdwelling.com Read More ... Finding opportunities in the GTA condo market Supply is plentiful, but will we see demand catch up? Analyst discusses key trends mpamag.com Read More ... Canada's housing market slows July saw activity edge backwards 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 • 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

😱 15th Aug 2024 - B.C. Landlord Can Increase Rent 23.5% Because Of Variable Mortgage: Arbitrator!

💥 Thursday 15th August 2024 💥 Divorce And Real Estate - FREE Report! Toronto Real Estate Digest: Daily Hot Headlines! "Your Key to Successful Home Transactions: Free Reports & Hot Listings!" "Toronto Real Estate Digest: Daily Hot Headlines" brings you the essential highlights and top stories in the ever-evolving Toronto real estate market. Each day, we curate the most important news, trends, and expert insights to keep you informed and ahead of the competition. Whether you're a buyer, seller, investor, or industry enthusiast, our daily digest ensures you're always up-to-date with the hottest developments in Toronto's dynamic real estate landscape. Stay connected and informed with "Toronto Real Estate Digest: Daily Hot Headlines." What happens to the mortgage when going through a divorce in Toronto? When going through a divorce in Toronto, the handling of a mortgage can be a complex and sensitive matter. Here’s an overview of what typically happens to the mortgage during a divorce and the options available to both parties: 1. Joint Mortgage Responsibilities If both spouses are on the mortgage, they are both legally responsible for the payments, regardless of who stays in the home. Even after separation, both parties are expected to continue making mortgage payments unless the mortgage is refinanced or other arrangements are made. 2. Options for the Matrimonial Home Sell the Home: One common option is to sell the home and use the proceeds to pay off the mortgage. Any remaining equity can then be divided between the spouses according to the terms of the divorce settlement. Buy Out the Other Spouse: If one spouse wants to keep the home, they may buy out the other spouse's share of the equity in the home. This often requires refinancing the mortgage in the name of the spouse who will keep the property. Co-Ownership: In some cases, divorcing spouses may agree to continue co-owning the home, at least temporarily. This might occur if the couple has children and they want to maintain stability by keeping them in the family home. However, this arrangement can be complicated and typically requires clear agreements about how expenses will be handled. Transfer of Ownership: If one spouse is awarded the home in the divorce, they will need to refinance the mortgage into their own name, assuming they qualify for the new mortgage on their own. This relieves the other spouse of their financial responsibility for the mortgage. 3. Mortgage Refinancing Refinancing Requirements: If one spouse decides to keep the home, they will need to refinance the mortgage solely in their name. The lender will assess their ability to afford the mortgage on a single income, which might involve a thorough review of their income, credit history, and debt-to-income ratio. Challenges with Refinancing: Refinancing can be difficult if the spouse staying in the home doesn’t have sufficient income or credit to qualify for the mortgage on their own. In some cases, the couple may need to sell the property if refinancing is not an option. 4. Implications for Credit and Debt Credit Implications: If the mortgage is not refinanced and payments are missed during or after the divorce, both spouses’ credit scores can be negatively affected. It's crucial for divorcing spouses to stay on top of mortgage payments until the home is sold, or the mortgage is refinanced. Debt Division: In Ontario, matrimonial property is usually divided equally, which includes any debt associated with the home. However, this doesn’t automatically change the legal obligation to the lender, meaning the lender can still pursue either party for mortgage payments if they were both originally on the mortgage. 5. Legal Considerations Equalization of Net Family Property (NFP): In Ontario, the division of assets and debts, including the mortgage, is governed by the Family Law Act, which requires an equalization of net family property. This means that both spouses are entitled to an equal share of the increase in value of their assets during the marriage, including the matrimonial home. Separation Agreement: It’s advisable to have a separation agreement that outlines how the mortgage and property will be handled. This agreement should specify who will be responsible for mortgage payments and any other costs related to the home until the property is sold or transferred. 6. Seeking Professional Advice Legal Advice: It is essential to seek legal advice when dealing with mortgage issues during a divorce. A family lawyer can help you understand your rights and obligations and ensure that the separation agreement adequately addresses the mortgage and property division. Financial Advice: Consulting with a mortgage broker or financial advisor is also recommended to explore refinancing options or to understand the financial implications of selling or keeping the home. 7. Timing Considerations The timing of selling or refinancing the home can be critical. Market conditions, interest rates, and the stability of each spouse's income can all influence the best course of action. Careful planning and coordination between both parties and their legal and financial advisors can help ensure a smoother transition. Summary In summary, what happens to the mortgage during a divorce in Toronto depends on the decisions made by both spouses regarding the matrimonial home. Options include selling the home, buying out the other spouse, or refinancing the mortgage. Each option comes with its own set of legal, financial, and emotional considerations. It’s essential to work with professionals, including lawyers and mortgage brokers, to navigate these decisions effectively and protect both parties' interests during the divorce process. B.C. landlord can increase rent 23.5% because of variable mortgage: arbitrator Housing minister says his staff is reviewing the policy. biv.com Read Now ... Toronto still has a record glut of homes sitting on the market but prices are only going up Toronto's real estate market has been relatively dead in the water for some months compared to the city's usual red-hot reputation, but selling pri... blogto.com Read Now ... Charming Toronto house for sale at under $800,000 is an alternative to condo life There aren't a lot of nice, affordable houses in Toronto. In fact, finding one feels almost like winning the lottery.  But every now and again, you... blogto.com Read Now ... Bracing for impact: What the current market volatility means for mortgage brokers and borrowers - Mortgage Rates & Mortgage Broker News in Canada It's amazing what a couple of days can do to the human psyche. canadianmortgagetrends.com Read Now ... The after-effect of market lows: a drop in fixed mortgage rates - MoneySense Some investors might look at their portfolios, but Canadians getting a mortgage (or renewing one) should keep an eye on fixed mortgage rates. Here’s why. moneysense.ca Read Now ... Is a 30-year mortgage right for you? After qualifying, some Canadians will now be able to stretch their mortgage amortization over 30 years. But what's the catch? cbc.ca Read Now ... Sask. town offers developers $30K incentives to address housing shortage Angela AmatoRegina Leader-PostIn an attempt to achieve city status, the Town of Moosomin is offering $30,000 to those building homes in a community desp paherald.sk.ca Read Now ... Canada’s Real Estate Insolvencies On Track to Surpass 2009 Levels Canada's residential property development sector is experiencing a surge in insolvencies, with experts warning that this trend is likely to thedeepdive.ca Read Now ... Hot downtown deals not enough to lure retailers wary of government whims | CBC News There are still dozens of empty storefronts in Ottawa’s downtown core. Real estate agents say it means unheard of deals for retailers, but tenants are still wary of an area they view as risky. cbc.ca Read Now ... B.C. Realtor receives maximum penalty for misconduct related to assignment sales A Realtor and his personal real estate corporation have had their licences suspended for six months and been ordered to pay $16,000 to the BC Financial Services Authority over misconduct that occurred eight years ago. bc.ctvnews.ca Read Now ... More Ontario landlords are sharing tenant horror stories amid tribunal backlog It's difficult for anyone to keep a roof over their head in a city as expensive as Toronto, and even some residents who are lucky enough to own pro... blogto.com Read Now ... What Does Title Insurance Cover? Title insurance provides cover for buyers and lenders against losses or legal fees from disputes over the property title after purchase. blog.remax.ca Read Now ... Toronto’s Condo Market Is on Tenterhooks Values Appear Increasingly at Risk as Loans in Arrears Accrue and Foreclosures Loom costar.com Read Now ... As interest rates rise, small-time landlords look to sell off homes Higher interest rates have now started to force mom-and-pop investors in London to sell their properties as their mortgage costs go up. lfpress.com Read Now ... More than one-third of B.C. residents worried about rent, mortgage payments: poll Most British Columbians are dissatisfied with their current financial situation, with more than one-third of respondents to a recent survey saying they worry "frequently" or "occasionally" about being able to pay their rent or mortgage. bc.ctvnews.ca Read Now ... The top 12 cheapest places to live in Alberta Discover how Alberta offers affordable living compared to other Canadian provinces, with the top 12 cheapest places to live money.ca Read Now ... B.C. landlords allowed to impose massive rent hikes after mortgage payments spike Two B.C. landlords whose costs have skyrocketed – due to their variable-rate mortgage – have been allowed to impose huge rent hikes on their tenants to offset their financial losses. bc.ctvnews.ca Read Now ... Preparing for your mortgage renewal: Tips to ease the stress of higher payments - Mortgage Rates & Mortgage Broker News in Canada Millions of Canadian homeowners are facing mortgage renewals in the coming years, with many feeling stressed as they prepare for higher payments amid persistently elevated interest rates. canadianmortgagetrends.com Read Now ... These are the cheapest cities for Mississauga and Brampton residents to invest in | insauga Investing in real estate might seem out of the question for residents grappling with the high cost of living in major Ontario cities such as Mississauga, Brampton, Toronto and Burlington, but a recent report suggests that “rentvesting” isn’t that out of reach.  Furthermore, the report suggests that “rentvesting” can put a buyer in a better […] insauga.com Read Now ... Toronto Mortgage Delinquency Rate Doubles, Hits 8 Year High - Better Dwelling Toronto mortgage delinquencies are surging, doubling over the past year to hit the highest rate since 2016—and they're still climbing. betterdwelling.com Read Now ... 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