😡 23rd Oct 2024 - 117 Homebuyers out Millions, as Ontario Builder admits to Selling Homes without legal approvals!

💥 Wednesday 23rd October 2024 💥 Questions Agents Hate! Toronto Real Estate Today: Hot Daily Brief! "Expert Guidance for Homebuyers & Sellers: Free Reports & Top Listings!" "Toronto Real Estate Today: Hot Daily Brief" is your essential daily update on the latest trends, property news, and expert insights shaping Toronto’s real estate market. Each day, we deliver a concise, curated selection of market shifts, top property listings, and actionable information to help you stay ahead in the dynamic Toronto real estate landscape. Whether you're buying, selling, investing, or just staying informed, "Toronto Real Estate Today: Hot Daily Brief" ensures you're always up to date with the hottest opportunities and developments. Are there any best practices or guidelines for buyers to follow when they encounter resistance or reluctance from a REALTOR® to address specific inquiries or concerns? When buyers encounter resistance or reluctance from a REALTOR® to address specific inquiries or concerns, it’s important to approach the situation thoughtfully and strategically. Here are some best practices and guidelines that can help buyers effectively communicate with their agent and ensure their questions are addressed: 1. Clarify Your Concerns Be Specific: Clearly articulate your concerns or questions. Instead of vague inquiries, frame specific questions that pinpoint the information you need. Prioritize Issues: Determine which concerns are most critical to your decision-making process. Prioritizing your questions can help the REALTOR® focus on the most pressing issues. 2. Establish Open Communication Create a Comfortable Environment: Approach your REALTOR® in a friendly manner. Building rapport can encourage openness and a willingness to address concerns. Use Positive Language: Frame your questions positively to foster constructive dialogue. For example, instead of saying, “Why won’t you answer my question?” you might say, “I’d appreciate your insights on this issue.” 3. Listen Actively Be Receptive: When your REALTOR® responds, listen carefully to their reasoning. There may be valid reasons for their reluctance, such as legal limitations or ethical considerations. Ask for Clarification: If their response is unclear or insufficient, ask follow-up questions to gain a deeper understanding of their perspective. 4. Express Your Expectations Communicate Your Needs: Clearly express your expectations regarding communication and responsiveness. Let your REALTOR® know that addressing your concerns is crucial to your trust and confidence in the process. Set Boundaries: If certain concerns are non-negotiable for you, communicate this clearly. For example, if you require full disclosure on a property’s condition, make that known. 5. Utilize Written Communication Email or Text: If verbal communication proves difficult, consider sending an email or text outlining your questions and concerns. This provides a written record and gives your REALTOR® time to consider their responses carefully. Documentation: Keep records of communications, including dates and content. This can be useful if you need to escalate issues later. 6. Seek Additional Resources Consult Other Professionals: If your REALTOR® remains reluctant to address your concerns, consider consulting other professionals, such as real estate attorneys or inspectors, for additional insights and information. Access Online Resources: Utilize reputable online resources, real estate forums, and community groups for information related to your inquiries. 7. Request a Meeting Schedule a Dedicated Discussion: If concerns persist, request a dedicated meeting with your REALTOR® to discuss your inquiries in detail. A focused conversation may yield better results. Use a Neutral Space: Meeting in a neutral space, like a coffee shop or office, may help create a more relaxed environment for open dialogue. 8. Evaluate the Relationship Assess Compatibility: If your REALTOR® consistently resists addressing your concerns, it may indicate a lack of compatibility or understanding of your needs. Assess whether this is the right agent for you. Consider a Change: Don’t hesitate to consider switching to a different REALTOR® if you feel your inquiries are not being taken seriously. A good professional should be responsive to your concerns. 9. Escalate When Necessary Contact Their Brokerage: If your concerns remain unaddressed and are serious, consider reaching out to the brokerage the REALTOR® is affiliated with. They may be able to mediate the situation. File a Complaint: As a last resort, if you believe the REALTOR® is acting unprofessionally or violating ethical standards, you may file a complaint with the local real estate board or regulatory authority. 10. Maintain Professionalism Stay Respectful: Regardless of the situation, maintaining a respectful and professional demeanor can help facilitate better communication and prevent escalating tensions. Focus on Solutions: Keep the focus on finding solutions rather than assigning blame, which can help foster a collaborative environment. Conclusion Navigating resistance from a REALTOR® can be challenging, but by following these best practices and guidelines, buyers can effectively communicate their concerns and ensure they receive the information they need. Open and clear communication, combined with a willingness to seek additional resources, will help buyers make informed decisions throughout the home buying process. Ultimately, a good REALTOR® should be committed to addressing their clients' inquiries and ensuring their needs are met. 117 homebuyers out millions, as Ontario builder admits to selling homes without legal approvals | CBC News More than 100 people are out tens of thousands of dollars each, after Sunrise Homes, the developer of a pre-construction home project in Ontario, entered receivership. The builder admitted to CBC Toronto that he's been selling homes without getting legal approvals to do so for years. cbc.ca READ MORE ... Will there be another rate cut in October? The Bank of Canada is set to make a rate announcement on October 23, and TD Economics predicts that the central bank will cut its lending rate. stories.td.com READ MORE ... New rule allows larger refinancing for secondary suite creation - The Mortgage Gal Mortgage rule changes seem to be coming at us fast and furious. This isn’t surprising given that we are in an election year. castanet.net READ MORE ... Ahead of Bank of Canada rate announcement: Choosing between long and short-term mortgages in a falling rate environment As interest rates drop, Canadian homeowners face a crucial decision: secure a stable fixed-rate mortgage or take a risk with a variable-rate mortgage. Discover which option best suits your financial situation. money.ca READ MORE ... Why I’m willing to eat crow on the Bank of Canada call Why I’m willing to eat crow on the Bank of Canada call economics.td.com READ MORE ... OPINION: Is Realtor.ca selling its soul? The foundation of our success is that Realtor.ca is not revenue-driven and there’s no motivation to earn income from consumers — instead, there’s trust realestatemagazine.ca READ MORE ... How to Save for a Down Payment While Renting  | Zoocasa Blog Want to buy a home but still renting? Explore smart ways to save for a down payment, from cutting costs to side hustles, and make homeownership a reality. zoocasa.com READ MORE ... Government Incentives for First-Time Home Buyers in BC 2025 An overview of the federal and provincial assistance programs available to Canadians purchasing their first home in 2025. auxiliummortgage.com READ MORE ... Government Incentives for First-Time Home Buyers in BC 2025 An overview of the federal and provincial assistance programs available to Canadians purchasing their first home in 2025. auxiliummortgage.com READ MORE ... Mortgage payments dropping in Niagara, making it more affordable than many U.S. cities | inNiagaraRegion While interest rates are still much higher than they were pre-pandemic, a new report suggests that homeowners in the Niagara region are spending a little less in 2024 than they were in 2023–all while living in homes that are overall cheaper than some found south of the border. According to a recent report by real […] niagara.insauga.com READ MORE ... Two big banks predict 225 bps worth of BoC rate cuts over the next year - Mortgage Rates & Mortgage Broker News in Canada As we appraoach what’s expected to be the Bank of Canada's fourth consecutive interest rate cut this year, several major banks are forecasting that the rate-cutting cycle is far from over. canadianmortgagetrends.com READ MORE ... Don’t rule out 75bp cut in overnight rate, says CIBC economist Wednesday's interest rate decision by Bank of Canada could pack a large punch biv.com READ MORE ... Canada's Rising Unemployment Now A Greater Risk Than Mortgage Renewals: RBC - Better Dwelling The Greater Canadian mortgage renewal cliff was largely overblown, according to the country’s largest bank. In its latest research note, RBC states that aggressive easing means that not all households will renew at higher rates, and the impact will be smaller than anticipated. They warn that doesn’t mean we’re in the clear, as a much […] betterdwelling.com READ MORE ... Five things to watch from the Bank of Canada interest rate decision OTTAWA — The Bank of Canada will release its interest rate decision and monetary policy report on Wednesday. timminstoday.com READ MORE ... Best Canadian Neighbourhoods for Big-City Lovers with Kids Big-city lover with kids? These Canadian neighbourhoods should be on your watch list, as featured in RE/MAX’s 2024 Liveability Report. blog.remax.ca READ MORE ... What CREA's latest forecast really means for buyers and sellers in 2025 What does CREA's latest forecast mean for 2025? Explore the nuanced outlook on national home sales, interest rates and affordability realestatemagazine.ca READ MORE ... Mortgage Digest: Prospective homebuyers waiting for sub-3% BoC rate before acting, survey shows - Mortgage Rates & Mortgage Broker News in Canada A bi-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 ... Posthaste: Bank of Canada rate cut unlikely to move the needle on housing market, says poll Bank of Canada is expected to cut its interest rate by 50 bps, but that may not be enough to draw buyers back to housing market. Read more intelligencer.ca READ MORE ... The Canadian mortgage stress test, explained Most home buyers in Canada will encounter the stress test when applying for a mortgage. Here’s how it works and what it means for borrowers. moneysense.ca READ MORE ... Will Bank of Canada interest rate cut spur B.C. real estate market? The Bank of Canada is set to cut its prime interest rate on Wednesday but no one's exactly sure how low they'll go. vancouver.citynews.ca READ MORE ... Editor's Note "Welcome to my Newsletter Page! I am a professional Real Estate Agent in Toronto GTA with an Architectural background from India. With a unique combination of design and real estate knowledge, I am dedicated to helping clients find their dream home. My expertise in both fields allows me to understand the potential of a property and how to best showcase it to potential buyers. I am committed to providing excellent service and going above and beyond for my clients. Let me help you navigate the real estate market and find your perfect property in the Greater Toronto Area & Surroundings. Contact me today!" Click Here For Hot New Toronto Regional Real Estate Board [TRREB] MLS® Listings. Call | Email me for more Info on any GTA Listings, Buying, Selling, Investing or Homebuyer's queries. Click Here to View Listings like Real Estate Agents. Click Here For HOMES & CONDOS In Toronto. Click Here For PRE-SALE CONDOS in Toronto. How does Rent-To-Own Homes works? Click Here for Power of Sale Listings. Manoj Atri, REALTOR®  Experienced Toronto GTA Sales Representative with Architectural Background. My forte: Power of Sale | Bank Foreclosures | Fixer-Upper | Rent-To-Own Homes All types of Credits Low or Zero down With Bank Cash-Back + Cash For Renovations Info & Much More... Re/Max Hallmark Realty Ltd., Brokerage 401-685 Sheppard Ave E, Toronto ON M2K 1B6 Cell: [416] 275-2089 | Office: [416] 494-7653 | Email: Manoj@ManojAtri.com Websites:   Homebuyer Hub | ManojAtri.com | 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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📉 21st Oct 2024 - New Condo Sales drop 81% across Southern Ontario!

💥 Monday 21st October 2024 💥 NEW vs Resale Homes - FREE Report! Hot News Daily: Toronto Real Estate Digest! "Your Gateway to Real Estate Excellence: Free Reports & Coveted Listings!" "Hot News Daily: Toronto Real Estate Digest" brings you the freshest and most important updates from Toronto’s real estate market. Each day, we deliver a comprehensive digest of key trends, expert insights, and market movements to help you stay informed and ahead of the curve. Whether you're buying, selling, investing, or simply keeping an eye on the market, our daily digest provides you with everything you need to make informed decisions. Stay on top of the hottest real estate news with "Hot News Daily: Toronto Real Estate Digest." How do the negotiation and bargaining dynamics differ when purchasing new homes versus resale homes, and what strategies can buyers use to maximize their leverage and secure the best possible deal? The negotiation and bargaining dynamics between purchasing new homes and resale homes can vary significantly due to differences in pricing structures, seller motivations, and the condition of the properties. Here’s a breakdown of these dynamics and strategies that buyers can use to maximize their leverage and secure the best possible deal. 1. Negotiation Dynamics New Homes: Fixed Pricing: New homes are often sold at fixed prices set by the builder or developer. While there may be less room for negotiation on the base price, there are often incentives and upgrades available for negotiation. Incentives and Promotions: Builders may offer incentives such as upgrades, closing cost assistance, or reduced deposit requirements to attract buyers, especially in a competitive market. Less Emotional Attachment: Builders are typically more transactional, focusing on closing sales rather than emotional ties to the property. This can lead to more straightforward negotiations. Resale Homes: Flexible Pricing: Resale homes often have more room for negotiation. The price may be influenced by the seller’s situation, the length of time the property has been on the market, and the condition of the home. Seller Motivation: Sellers may be more motivated to negotiate if they are facing financial pressure, such as job relocation, divorce, or other life changes. Understanding the seller’s motivation can provide leverage during negotiations. Emotional Factors: Sellers may have emotional attachments to their homes, which can complicate negotiations. Buyers need to navigate this sensitivity, balancing assertiveness with empathy. 2. Strategies for Buyers to Maximize Leverage For New Homes: Research Builder Incentives: Before negotiations, research any promotions or incentives offered by the builder. Knowing what’s available can give buyers leverage when discussing upgrades or costs. Explore Options and Upgrades: Rather than focusing solely on the purchase price, negotiate for desirable upgrades or features (e.g., appliances, flooring, landscaping) that may add value to the home. Consider Timing: Builders may be more flexible with pricing and incentives at the end of a fiscal quarter or during slower sales periods. Timing negotiations strategically can yield better results. Use Multiple Offers: If possible, explore multiple builders or developments. Having alternatives can give buyers leverage in negotiations, as they can reference other offers they are considering. For Resale Homes: Conduct Thorough Research: Understand the local market conditions, including recent comparable sales (comps), average days on the market, and any pending sales. This information can help buyers make informed offers. Assess Seller Motivation: Determine the seller's motivations and circumstances. If they are in a hurry to sell, they may be more open to negotiating on price or terms. Be Prepared to Walk Away: Demonstrating that you are willing to walk away if the terms are not favorable can provide significant leverage in negotiations. Sellers may be more willing to consider a reasonable offer to avoid losing a potential buyer. Include Contingencies: Offering to purchase with fewer contingencies can make a buyer's offer more appealing. However, this should be balanced with the buyer’s need for protection in the transaction. Offer a Strong Earnest Money Deposit: Providing a larger earnest money deposit can signal serious intent to the seller and may encourage them to consider your offer more favorably. 3. General Tips for Both Types of Purchases Professional Representation: Engage a knowledgeable real estate agent who understands negotiation tactics and can represent your interests effectively. Stay Informed: Being well-informed about the property’s condition, local market trends, and financing options can empower buyers during negotiations. Be Respectful and Patient: Building rapport with the seller or builder can facilitate smoother negotiations. Patience can be a powerful tool, allowing time for both parties to consider offers and counteroffers thoughtfully. Get Pre-Approved for Financing: A pre-approval letter can strengthen your position, showing sellers or builders that you are a serious buyer capable of completing the transaction. Conclusion The negotiation dynamics for new homes and resale homes differ in various ways, primarily due to pricing structures and seller motivations. By employing effective strategies tailored to each scenario, buyers can maximize their leverage and secure the best possible deal. Whether purchasing a newly built home or a resale property, thorough research, strategic timing, and professional representation are key to successful negotiations. New condo sales drop 81% across southern Ontario | INsauga Sales on new condominiums in Mississauga, Hamilton, and southern Ontario are at their lowest quarterly in nearly 30 years. According to a new report published Friday (Oct. 18) by Urbanation, condo sales have dropped significantly, falling 81 percent in the third quarter of 2023 compared to the same quarter last year. The new Condominium Market […] insauga.com READ MORE ... $1.4 million Toronto condo loses 23 per cent of its value in just two years Throughout September, buyers in Toronto started to take advantage of more and more affordable conditions brought about by interest rate cuts and lowe… blogto.com READ MORE ... ‘Upward momentum’: Average Bradford home sold for $1M in September While year-over-year price increased slightly in town, total sales dropped last month, BDAR says bradfordtoday.ca READ MORE ... Understanding Condo Rules Condominiums can be more affordable than single-family homes, but be sure to check the condo rules before buying. blog.remax.ca READ MORE ... ‘Buyers are tired of being on the sidelines’: Sales of new homes tick up in Ottawa in September Sales of new homes are up this year compared to 2023, causing the Greater Ottawa Home Builders’ Association to predict a “positive tone” for the market going into the new year. obj.ca READ MORE ... 'Jumbo rate cuts': Here's what you need to know about potential Bank of Canada interest rate drop next week Bank of Canada governor Tiff Macklem is expected to make an interest rate announcement Oct. 23. Financial experts predict the rate will drop significantly from the current 4.25 per cent. toronto.com READ MORE ... Now's the time to jump into the housing market, says top broker Narrow window of affordability set to close in mid-2025 mpamag.com READ MORE ... Canada's inflation hits new low – What's next for the housing market? Economists anticipate rate cuts after inflation drops below 2% mpamag.com READ MORE ... A tiny Toronto house going for $1.2 million is so hidden you'lll miss it Tucked away on a quiet, no-traffic, dead-end Toronto street, 925 Palmerston Ave. is truly a hidden gem. This Annex home blends quirky charm with mode… blogto.com READ MORE ... Average price of homes in Newmarket nudges up in September The price of detached homes increased in Newmarket since last month, while the average price semi-detached and townhomes decreased since last month newmarkettoday.ca READ MORE ... One of Toronto's oldest loft conversions is on the market for $900,000 Toronto is full of iconic loft conversions, but not all of them have the history and charm of 99 Coleman Avenue. This boutique building, which began … blogto.com READ MORE ... Ready to close on your dream home? Make sure you’ve dotted the I’s and crossed the T’s Avoid making major purchases before closing so you don't imperil your financing, experts say, and be prepared for all the legal and administrative fees. therecord.com READ MORE ... Exclusive Interview with Michelle Kam: Finding Success in Toronto’s Real Estate Market - CEOWORLD magazine Michelle Kam, a leading real estate broker and founder of Re/Max City Accord Realty Inc., is known for her comprehensive approach and strong community ties. In this exclusive interview, Michelle Kam shares her insights on the real estate industry, her journey, and her vision for the future. What inspired you to pursue a career in […] ceoworld.biz READ MORE ... New skyscrapers could replace downtown Toronto office buildings A pair of soaring skyscrapers could soon replace an office complex in the heart of downtown Toronto. Developer H&R REIT has proposed to tear down the… blogto.com READ MORE ... Five of six Canadian banks predict sharper rate cut as inflation slows TD Bank remains cautious while peers expect 50-point reduction mpamag.com READ MORE ... This Week's Top Stories: Canadian Real Estate Demand Weakens In Key Markets & Supersized Rate Cuts - Better Dwelling Time for your cheat sheet on this week’s top stories. Canadian Real Estate Toronto & Vancouver Are Now The Weakest Real Estate Markets In Canada Toronto and Vancouver are traditionally Canada’s hottest real estate markets, leading the trend. If that still holds true, it might be a problem in the coming months. Experts believed the […] betterdwelling.com READ MORE ... Ottawa real estate industry watching anticipated interest rate cut closely There’s anticipation of a further rate cut from the Bank of Canada this week due to plummeting inflation and back-to-back interest rate cuts this year. ottawa.ctvnews.ca READ MORE ... With inflation below target, Bank of Canada expected to deliver supersized rate cut this week The Bank of Canada has lowered its key interest rate three times so far, bringing it down to 4.25 per cent. toronto.citynews.ca READ MORE ... Real estate experts worry new flood zone could impact market Following the new Montreal flood zone map being made public, a non-profit group, the Quebec Professional Association of Real Estate Brokers (QPAREB) — which represents more than 15,000 real estate brokers and agencies — is ringing the alarm. According to its brief, the new zone maps will make 77,000 previously unaffected properties decline in value. […] montreal.citynews.ca READ MORE ... Etobicoke residents hope to save cinema from proposed condo development | CBC News Etobicoke residents are trying to save a local Cineplex theatre from potentially being demolished to make room for condo towers. An application to the City of Toronto from a property management company proposes building 12 towers in the cinema’s place. cbc.ca READ MORE ... Editor's Note "Welcome to my Newsletter Page! I am a professional Real Estate Agent in Toronto GTA with an Architectural background from India. With a unique combination of design and real estate knowledge, I am dedicated to helping clients find their dream home. My expertise in both fields allows me to understand the potential of a property and how to best showcase it to potential buyers. I am committed to providing excellent service and going above and beyond for my clients. Let me help you navigate the real estate market and find your perfect property in the Greater Toronto Area & Surroundings. Contact me today!" Click Here For Hot New Toronto Regional Real Estate Board [TRREB] MLS® Listings. Call | Email me for more Info on any GTA Listings, Buying, Selling, Investing or Homebuyer's queries. Click Here to View Listings like Real Estate Agents. Click Here For HOMES & CONDOS In Toronto. Click Here For PRE-SALE CONDOS in Toronto. How does Rent-To-Own Homes works? Click Here for Power of Sale Listings. Manoj Atri, REALTOR®  Experienced Toronto GTA Sales Representative with Architectural Background. My forte: Power of Sale | Bank Foreclosures | Fixer-Upper | Rent-To-Own Homes All types of Credits Low or Zero down With Bank Cash-Back + Cash For Renovations Info & Much More... Re/Max Hallmark Realty Ltd., Brokerage 401-685 Sheppard Ave E, Toronto ON M2K 1B6 Cell: [416] 275-2089 | Office: [416] 494-7653 | Email: Manoj@ManojAtri.com Websites:   Homebuyer Hub | ManojAtri.com | 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