🤔 18th Oct 2024 - With affordability falling, is it time to rethink home ownership?

💥 Friday 18th October 2024 💥 How To Sell A Home That Didn't Sell! Toronto Real Estate Today: Daily Hot Scoop! "Expert Advice & Hot Listings: Free Reports & Exclusive Updates!" "Toronto Real Estate Today: Daily Hot Scoop" delivers the latest and most relevant updates from Toronto's dynamic real estate market. Every day, we provide you with a curated selection of the hottest property listings, emerging market trends, and expert insights to keep you informed and ready to make smart decisions. Whether you're a buyer, seller, investor, or real estate enthusiast, our daily scoop ensures you stay ahead of the game in Toronto’s competitive real estate landscape. Stay connected and informed with "Toronto Real Estate Today: Daily Hot Scoop." How do real estate professionals assess the reasons behind a home listing's expiration and develop targeted strategies to address underlying issues effectively? When a home listing expires, real estate professionals conduct a thorough assessment to understand the reasons behind the expiration and develop targeted strategies to address the underlying issues. Here’s how they approach this process: 1. Analyzing Market Conditions Comparative Market Analysis (CMA): REALTORS® perform a CMA to evaluate how the expired listing compares to similar properties that have sold recently. They analyze pricing trends, average days on the market, and other local market conditions to determine if the property was competitively priced. Market Trends: They assess broader market trends, such as buyer demand, inventory levels, and economic factors, to understand whether external conditions contributed to the listing's failure to sell. 2. Reviewing Listing Details Pricing Strategy: Agents evaluate whether the initial listing price was appropriate based on market conditions and comparable sales. If the price was too high, they can adjust the pricing strategy accordingly. Property Features: They analyze the property's features, including size, layout, condition, and amenities. If certain features did not appeal to buyers, they may recommend improvements or staging to enhance the property’s attractiveness. 3. Assessing Marketing Efforts Marketing Strategy Review: REALTORS® review the marketing strategies used for the listing, including online listings, social media promotion, open houses, and traditional advertising. They assess whether the marketing efforts effectively reached potential buyers. Photography and Presentation: The quality of listing photos and property presentation is critical. Agents may identify if poor-quality images or lack of professional staging negatively impacted buyer interest. 4. Gathering Feedback Buyer Feedback: If possible, REALTORS® seek feedback from potential buyers who viewed the property. Understanding their perspectives on what they liked or disliked can provide valuable insights into why the home did not sell. Showings and Open Houses: They analyze attendance and engagement levels during showings and open houses to determine if there was a lack of interest or if buyers had specific objections. 5. Identifying Seller Concerns Seller Expectations: REALTORS® discuss with the seller to understand their expectations and any concerns they might have had during the listing period. This can help identify any misalignments in pricing, marketing, or property condition. Motivation to Sell: Understanding the seller's motivation and urgency can also guide strategy adjustments. If the seller is highly motivated, the agent may suggest more aggressive marketing or pricing strategies. 6. Targeted Strategy Development Adjusting Pricing: If the initial price was too high, real estate professionals might recommend a price reduction to attract more interest and align with current market conditions. Improving Presentation: They may suggest repairs, updates, or professional staging to enhance the property's appeal. Making the home visually appealing can help draw in potential buyers. Refining Marketing Tactics: Based on the analysis of past marketing efforts, REALTORS® may create a new marketing plan that targets specific buyer demographics more effectively, leveraging platforms that reach the intended audience. 7. Setting New Goals and Expectations Revising Goals: REALTORS® work with sellers to set realistic goals and expectations for the re-listing. They ensure that the seller understands the current market dynamics and is aligned with the new strategies. Timeline for Success: They may establish a new timeline for the re-listing process, including when to make improvements, how to adjust marketing efforts, and when to assess the effectiveness of the new strategy. 8. Monitoring Progress Ongoing Assessment: Once the property is re-listed, REALTORS® continuously monitor the market response to the adjustments made. They analyze showings, feedback, and offers to gauge the effectiveness of the new strategies. Flexibility for Further Changes: If the property continues to receive little interest, they remain flexible and willing to adjust strategies further based on real-time market feedback and evolving conditions. Conclusion Real estate professionals play a crucial role in assessing the reasons behind a home listing's expiration and developing targeted strategies to address the underlying issues. By analyzing market conditions, reviewing marketing efforts, gathering feedback, and implementing new strategies, REALTORS® can help sellers successfully re-enter the market and achieve their selling goals. Effective communication with sellers and a willingness to adapt based on market insights are key components of this process. It took her 2 years to buy a home. He still can't afford it. Ontario prof says it's time to rethink ownership | CBC News Vishal Joshi still dreams of owning a home in Canada, but falling affordability has him considering other options. "The radius of where we're looking for a house keeps getting bigger and bigger," he says. As house prices and interest rates rise and wages stay stagnant, a university professor says it might be time to rethink home ownership and consider other options. cbc.ca READ MORE ... Canadian Housing Starts Rise 5% in September, but Long-Term Trend Declines The Canadian housing market displayed mixed trends in September, according to the latest report from Canada Mortgage and Housing Corporation (CMHC). The six-month trend in housing starts has decrea… thedeepdive.ca READ MORE ... Here's how much money you need to make to afford rent in various cities across Canada Spoiler alert: It's WAY more than minimum wage. 😬 msn.com READ MORE ... Income required to buy a home in Ottawa drops $6,000 over the summer A new report from Ratehub.ca shows homebuyers needed an average income of $126,100 in September to buy the average priced home for sale in Ottawa, down from $127,830 in August. ottawa.ctvnews.ca READ MORE ... Calgary bungalow with 13 bedrooms listed for half a million dollars A house in Calgary with 13 occupied bedrooms for half a million dollars sounds like a steal, but a current listing for one in the city is far from a palatial estate. calgary.ctvnews.ca READ MORE ... Could Canada's new mortgage rules drive up home prices? Price appreciation a real possibility after December 15 changes take effect, says broker mpamag.com READ MORE ... Opinion: Why governments must do everything in their power to crash the housing market | TVO Today Housing is now the unofficial third leg of our national retirement scheme — and we’re all paying the price. tvo.org READ MORE ... New federal mortgage policies will boost Canadian home prices in 2025: TD However, it adds that the measures may cause "affordability erosion" that will eventually slow sales volume and price growth. ca.finance.yahoo.com READ MORE ... Mortgage industry weighs in on federal secondary suite refinance program - Mortgage Rates & Mortgage Broker News in Canada Industry professionals express cautious optimism but call for more clarity on the program’s specifics canadianmortgagetrends.com READ MORE ... Rising unemployment could derail economy more than mortgage renewals, says RBC Weak labour market poses greater risk to economic recovery than renewal cliff mpamag.com READ MORE ... Housing affordability: What does it mean for Windsor-Essex? | CBC News As the high cost of housing continues to create increased stress for families, forcing some people into homelessness, the County of Essex and City of Windsor are in the midst of a collaboration to develop an affordable housing strategy. cbc.ca READ MORE ... TD predicts mortgage rule adjustments will boost activity – and prices TD Bank predicts short-term gains from new rules, but long-term affordability could erode housing recovery mpamag.com READ MORE ... Ottawa’s mortgage changes will be a ‘double-edged sword,’ TD economist warns - National | Globalnews.ca Ottawa's proposed mortgage changes may help affordability in the short term, but there are risks to the stability of the Canadian financial system, one economist warns. globalnews.ca READ MORE ... Canadian Housing Starts Stagnant, 3x Growth Was Never Realistic: BMO - Better Dwelling Canadian housing starts are starting to lose momentum but they remain lofty. Canada Mortgage and Housing Corporation (CMHC) data shows a drop in housing starts for September. Despite the slow month, BMO notes the trend is still moving higher, especially considering the environment. The slowdown is contrary to policymaker efforts to triple new home starts, […] betterdwelling.com READ MORE ... Revealed: Top 3 provinces for affordable homes in 2024 Housing prices rise slower than the national average mpamag.com READ MORE ... B.C.’s depreciation report legislation changes: What this means for buyers, sellers and strata corporations Learn about the importance of depreciation reports and how B.C. legislation changes affect owners and strata corporations realestatemagazine.ca READ MORE ... Quebec’s Q3 market surges with 13% sales growth as buyers return amid lower interest rates: QPAREB Discover the latest real estate market statistics for Quebec's Q3 2024. Find out about the significant increase in residential sales and more realestatemagazine.ca READ MORE ... 'Very grateful': How working professionals denied a traditional mortgage became homeowners in Toronto Fifty-five families have become homeowners this year with the help of a program with Habitat for Humanity Greater Toronto Area. toronto.ctvnews.ca READ MORE ... Canada's housing starts trend drops 1.3% despite September surge CMHC reports a 5% rise in September housing starts, but affordability challenges persist in cities wealthprofessional.ca READ MORE ... Condo of the Week: $760,000 for a Yorkville unit sandwiched between a legendary music venue and a famous library - Toronto Life 1,077,815 Torontonians can’t be wrong. torontolife.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 | 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: This Newsletter contains summarized content from various sources; full attribution for each article is provided in the original linked content. Articles and Podcasts in this newsletter are generated by AI." If you no longer wish to receive these Emails, please Unsubscribe Here

🏦 17th Oct 2024 - Bank of Canada to cut by another 100bps before year-end!

💥 Thursday 17th October 2024 💥 Start Your Home Buyers Journey Here! GTA Real Estate Beat: Hot Daily Insights! "Where Opportunity Meets Knowledge: Free Reports & Fresh Listings!" "GTA Real Estate Beat: Hot Daily Insights" provides you with the most up-to-date and essential information on the Greater Toronto Area's real estate market. Every day, we deliver a curated selection of market trends, property highlights, and expert insights to keep you informed and ahead of the competition. Whether you're buying, selling, investing, or simply staying informed, our daily insights give you the tools you need to navigate the fast-paced world of GTA real estate. Stay on top of the market with "GTA Real Estate Beat: Hot Daily Insights." What role do real estate professionals, such as agents or brokers, play in helping home buyers save thousands of dollars on their purchase, and how can buyers find professionals who are experienced in maximizing savings opportunities? Real estate professionals, such as agents and brokers, play a significant role in helping home buyers save money throughout the home buying process. Their expertise, negotiation skills, and knowledge of the market can lead to substantial savings. Here’s how they help buyers save thousands of dollars and how buyers can find the right professionals for their needs: Role of Real Estate Professionals in Saving Money Market Knowledge Understanding Market Trends: Real estate professionals have in-depth knowledge of local market conditions, including pricing trends and neighborhood dynamics. This knowledge enables them to advise buyers on the best times to purchase and which areas may offer better value. Identifying Undervalued Properties: Agents can identify properties that may be undervalued or have been on the market for a while, providing buyers with opportunities for negotiations. Expert Negotiation Skills Negotiating Offers: Experienced agents can negotiate favorable terms on behalf of buyers, including lower purchase prices, concessions on closing costs, or included furnishings and repairs. Their expertise can make a significant difference in the final sale price. Counteroffers: Agents can craft strong counteroffers that help protect the buyer’s interests while still making a competitive offer. Access to Resources and Incentives Knowledge of Programs: Real estate professionals are often aware of local, state, and federal programs that offer financial assistance, down payment assistance, or tax credits. They can guide buyers to these resources, which can lead to substantial savings. Referral Networks: Agents often have relationships with mortgage brokers, inspectors, and contractors, allowing them to recommend reputable service providers who may offer competitive rates. Comprehensive Market Analysis Comparative Market Analysis (CMA): Agents can conduct a CMA to help buyers understand the fair market value of a property. This ensures that buyers do not overpay and helps them make informed offers. Assessing Long-Term Value: Agents can provide insights into which properties are likely to appreciate over time, helping buyers make investments that grow in value. Avoiding Costly Mistakes Advising on Inspections: Real estate professionals can recommend home inspections, ensuring that buyers are aware of any significant issues that could lead to costly repairs in the future. Contract and Legal Guidance: Agents can help buyers navigate complex contracts and ensure that all legal requirements are met, preventing potential legal disputes or extra costs down the line. Finding Experienced Professionals to Maximize Savings Referrals and Recommendations Ask for Referrals: Buyers can start by asking friends, family, or colleagues for recommendations of real estate agents or brokers who have successfully helped them save money in the past. Online Reviews: Websites like Zillow, Google, and Yelp provide reviews and ratings for real estate professionals, helping buyers find agents with a strong track record in saving clients money. Professional Associations Local Real Estate Associations: Buyers can check local real estate association directories to find REALTORS® who specialize in their desired area or property type. Many associations also offer resources for first-time homebuyers. Certifications and Designations: Look for agents with specific designations, such as Accredited Buyer’s Representative (ABR) or Certified Residential Specialist (CRS), indicating their expertise in buyer representation. Interviews and Initial Consultations Conduct Interviews: Schedule interviews with multiple agents to discuss their experience, negotiation strategies, and approach to maximizing savings. This allows buyers to gauge compatibility and expertise. Assess Communication Style: Choose an agent whose communication style aligns with your preferences, as effective communication is key to successful negotiations and collaboration. Research Their Track Record Recent Transactions: Inquire about the agent’s recent transactions and success rates in negotiating savings for buyers. A strong track record in similar markets or property types can be a good indicator of their ability to save you money. Client Testimonials: Ask for testimonials or references from previous clients to better understand how the agent has helped others save money. Engage with Local Market Events Real Estate Workshops and Seminars: Attend local workshops or seminars where real estate professionals discuss market trends, financing options, and strategies for saving money. This can be a great way to meet knowledgeable agents and brokers. Networking Opportunities: Networking at community events can also help buyers connect with agents who specialize in cost-saving strategies. Conclusion Real estate professionals play a vital role in helping home buyers save money through their market knowledge, negotiation skills, access to resources, and ability to prevent costly mistakes. By seeking experienced agents or brokers who understand the nuances of the local market and buyer incentives, home buyers can maximize their savings and ensure a successful purchasing experience. Conducting thorough research, obtaining referrals, and actively engaging with the real estate community will help buyers find the right professionals to assist them in their home-buying journey. Bank of Canada to cut by another 100bps before year-end: economist The Bank of Canada will likely cut interest rates by a full percentage point by the end of this year, a top economist said mpamag.com READ MORE ... Canada Needs To Prepare For Bank Runs & Collapses, Warns Former Regulator - Better Dwelling Canadian banks have been considered mostly risk-free for a long time, but every streak ends. A former Canadian banking regulator urges the country’s policymakers to prepare for that day while it still can. In a new report from CD Howe, a former OSFI manager urges the country to modernize its banking crisis response and adopt […] betterdwelling.com READ MORE ... $5.5 million Ontario home is a palatial retreat in a prestigious neighbourhood Completely redesigned and renovated, this $5.5 million Georgian Mississauga home will give you a taste of life in the lap of luxury while maintaining… blogto.com READ MORE ... Someone paid over $400K above asking price for Ontario home and then lost it all An Ontario home sold at a massive loss this month shows just how much real estate prices tend to fluctuate throughout the province, especially in the… blogto.com READ MORE ... A $12 million Toronto home has a gym and theatre that put luxury condo towers to shame Nestled in the prestigious Forest Hill neighbourhood, 43 Old Forest Hill Rd. is a unique home that perfectly blends historic-styled charm with contem… blogto.com READ MORE ... Canadian Inflation Slows, Clears Way For Bank of Canada To Cut 50 BPS - Better Dwelling Canadian inflation is being tamed rapidly, sparking fears that the economy will cool and require stimulus soon. Statistics Canada (Stat Can) data shows the Consumer Price Index (CPI) annual growth fell sharply in September. The slowdown was primarily the result of gasoline, with inflation showing little progress when excluded. However, experts still see this clearing […] betterdwelling.com READ MORE ... Mike Moffatt: One simple way the federal government could save Canadian homebuyers nearly $2 billion a year thehub.ca READ MORE ... Buying dirt: Alberta’s foreign ownership restrictions and acquisitions of land in Alberta - MLT Aikins - Western Canada's Law Firm In June 2024, the Foreign Ownership of Land Administration in Alberta released updated versions of the statutory declarations. mltaikins.com READ MORE ... Bank of Mom and Dad goes to work on the condo segment Parents are eyeing the current weakness in the Toronto condo market as an opportunity to buy for their adult children headtopics.com READ MORE ... Weekly Mortgage Digest: Why have lenders been hiking rates? - Mortgage Rates & Mortgage Broker News in Canada A weekly review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases. canadianmortgagetrends.com READ MORE ... Ottawa’s real estate market sees healthy growth despite market shifts: OREB Discover the latest trends in Ottawa's real estate market growth. Despite challenges, home sales show a healthy increase realestatemagazine.ca READ MORE ... Building a House vs Buying a House We explore the various facets of building versus buying a house, offering insights to help you accomplish this important milestone. blog.remax.ca READ MORE ... Half a semi-detached in Dovercourt Village with a whole suite of space-saving innovations - Toronto Life 1,077,815 Torontonians can’t be wrong. torontolife.com READ MORE ... Housing woes ‘going to get worse’ in Brampton if new add-on rental unit rules come to Ontario, councillor says | inBrampton One-size-fits-all changes to Ontario’s rules around garden suites and additional rental units will make housing and safety concerns worse for Brampton renters, members of city council say. insauga.com READ MORE ... Mortgage Rule Changes to Add Fuel to Canadian Housing Recovery Mortgage Rule Changes to Add Fuel to Canadian Housing Recovery economics.td.com READ MORE ... Mortgage-free ownership becoming 'tougher' in Windsor: Experts Despite a high rate of mortgage-free homeowners in the Windsor-Essex region, experts believe higher costs and interest rates will make paid-off homes less of a reality in the coming years. windsor.ctvnews.ca READ MORE ... What's the solution to Canada's housing construction woes? A sluggish pace of homebuilding is weighing on housing affordability mpamag.com READ MORE ... Two-thirds of Canadians aren't ready to buy or refinance their homes Majority are waiting for deeper rate reductions or better conditions mpamag.com READ MORE ... Why Toronto and Vancouver residents may never escape renting Renters in Canada's priciest cities face 13-year wait to save for a home mpamag.com READ MORE ... A laneway suite so stylish it became the main home - Toronto Life 1,077,815 Torontonians can’t be wrong. torontolife.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: This Newsletter contains summarized content from various sources; full attribution for each article is provided in the original linked content. Articles and Podcasts in this newsletter are generated by AI." 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