🤝 26th June 2024 - More than one-third of first time Ontario homebuyers get help with down payments.

💥 Wednesday 26th June 2024 💥 Questions Agents Hate! GTA Real Estate Buzz: Daily Highlights! "Home Success Starts Here: Free Reports & Fresh Listings!" "GTA Real Estate Buzz: Daily Highlights" brings you the latest and most important updates from the Greater Toronto Area's real estate market. Each day, we compile essential news, emerging trends, and expert insights to keep you informed and ahead of the curve. Whether you're a buyer, seller, investor, or simply interested in the real estate scene, our daily highlights provide a quick and comprehensive look at what's buzzing in the GTA. Stay connected and make well-informed decisions with "GTA Real Estate Buzz: Daily Highlights." What strategies can realtors use to gracefully redirect or defer questions that they are uncomfortable answering, while still maintaining professionalism and trust? Realtors sometimes encounter questions from clients that they may feel uncomfortable answering for various reasons, such as legal, ethical, or personal constraints. Here are strategies realtors can use to gracefully redirect or defer these questions while maintaining professionalism and trust: Strategies for Redirecting or Deferring Questions Provide a General Answer: Stay General: If the question pertains to something sensitive or outside the realtor’s expertise, providing a general answer can be helpful. For example, if asked about crime rates, a realtor might say, “I recommend checking the local police department’s website for the most accurate and up-to-date information.” Refer to a Specialist: Professional Referrals: Refer clients to professionals who are better equipped to handle specific inquiries. For example, for legal questions, you can say, “That’s a great question for a real estate attorney. I can refer you to someone who specializes in that area.” Focus on Objective Data: Present Facts: When asked for opinions that could be subjective or controversial, stick to presenting objective data. For example, if asked about the best schools in an area, you might say, “You can find school ratings and reviews on websites like GreatSchools.org.” Use Market Comparisons: Comparable Data: If the question pertains to the value or quality of a property, provide comparisons to similar properties. For instance, “Based on recent sales of similar homes in this neighborhood, the price seems competitive.” Acknowledge Limitations: Honesty: Be honest about the limits of your knowledge or comfort in answering certain questions. For example, “I’m not a financial advisor, so I can’t provide specific investment advice, but I can share general market trends and direct you to a financial expert.” Deferring with Intent to Follow-Up: Follow-Up Promise: If you need time to gather information, let the client know you’ll get back to them. For example, “That’s an important question, and I want to make sure I give you the correct information. Let me research it, and I’ll get back to you by tomorrow.” Use Online Resources: Direct to Resources: Point clients towards online resources or databases for certain information. For example, “You might want to look at the municipal website for detailed zoning regulations.” Leverage Professional Networks: Network Utilization: Mention your professional network as a resource. For example, “I work with a team of experts in different fields. I can consult with them and provide you with a well-rounded answer.” Example Phrases to Use Legal/Financial Questions: “I’m not legally or ethically allowed to provide specific legal/financial advice, but I can refer you to a trusted professional who can.” Community Information: “For detailed community statistics, the local municipal website offers comprehensive data.” Personal Opinions: “While I have my personal preferences, I believe it’s best if you check out some reviews and visit the area to form your own opinion.” Sensitive Topics: “I’m not the best person to answer that particular question, but I can direct you to resources or individuals who can help.” Building Trust and Maintaining Professionalism Transparency: Be transparent about why you cannot answer the question directly. Consistency: Always provide accurate and consistent information. Follow Through: If you promise to get back to them with information, ensure you do so in a timely manner. Empathy: Show understanding and empathy for their concerns and make it clear that their questions are valid and important. By using these strategies, realtors can navigate uncomfortable questions gracefully while maintaining trust and professionalism in their client relationships. More than one-third of first time Ontario homebuyers get help with down payments. A new report suggests the gifts average $128K More than one-third of first time homebuyers in Ontario are getting help with their down payment and the average gift now tops $100,000, according to a report from CIBC. cp24.com READ MORE ... Rents in Canada growing more than home prices — and high interest rates are partly to blame Phil Soper, chief executive of Royal LePage, talks with Financial Post’s Larysa Harapyn about how affordability challenges persist and, in some cases, are worsening in the Canadian rental market . Fed interest rate cut could come sooner than markets think What the capital gains tax changes mean to you Poor productivity 'concern for competitiveness of exporters' Bookmark our website and support our journalism: Don’t miss the business news you... msn.com READ MORE ... Inside Toronto's slumping condo market There’s a record number of Toronto condominiums on the market right now, and despite record immigration, and an ever-worsening housing crisis, nobody seems to want to buy them. Diana Zlomislic is a housing reporter for The Toronto Star. “I think what happens with the central bank, whether they continually reduce the lending rate over the […] vancouver.citynews.ca READ MORE ... 'Here is what it could look like': Real estate agent uses AI to virtually stage home Staging a home can be time consuming and expensive, but now with artificial intelligence, you can see what a home would look like renovated or with a coat of paint. toronto.ctvnews.ca READ MORE ... Condo of the Week: $3.2 million for a waterfront unit in a building that generates its own power - Toronto Life 1,077,815 Torontonians can’t be wrong. torontolife.com READ MORE ... Homebuyers lean on family to fund down payments | Advisor.ca Gifts to support home purchases rising alongside home prices, CIBC says advisor.ca READ MORE ... B.C. tenant evicted after doing laundry in a Speedo or naked The tenant also reportedly stole a bike and a scooter. vancouverisawesome.com READ MORE ... Average rents in Canada reach record high, while St. Catharines rents up slightly: Report St. Catharines is the 26th most expensive city to rent a one-bedroom unit out of the 35 Canadian cities examined. Photo Credit: iStock.  The average one-bedroom rent in St. Catharines was up 0.5 per cent month-over-month to $1,663 in May 2024, according to the latest Rentals.ca market update. However, one-bedroom rents are down 0.5 per […] niagaraindependent.ca READ MORE ... New bylaw passed in Kitchener looks to provide protection for renters | Globalnews.ca The bylaw will see landlords required to provide compensation options to renters when they look to demolish or convert properties with six or more rental units. globalnews.ca READ MORE ... Family fund: $115K is the average gift for 1st-time homebuyers, CIBC says - National | Globalnews.ca Some Canadian family members now give their kids $115K on average to buy a home, a report found. It said relying on a family gift is “becoming the norm.” globalnews.ca READ MORE ... Toronto’s short-term-rental rules are supposed to keep basement apartments off Airbnb. Some homeowners appear to be listing them anyway City investigating after Ricochet identifies dozens of potentially illegal listings ricochet.media READ MORE ... Heftier mortgage payments will keep throttling consumer spending long after rates fall Bank of Canada says Peak decline in household spending still to come with more homeowners poised to renew mortgages at higher rates. Read on cochranetimespost.ca READ MORE ... How much variable-rate mortgage holders can save with lower interest rates - REM ‘Prospective buyers will be motivated to get off the sidelines, ultimately leading to more sales activity and the potential for an increase in prices’ realestatemagazine.ca READ MORE ... How to get out of private mortgage insurance payments early One monthly cost included in many mortgage payments that homebuyers are not always aware of is private mortgage insurance (PMI). Yahoo Finance's Molly Moorhead breaks down what PMI is and how homebuyers can best navigate the cost. PMI is an insurance policy that protects lenders if homebuyers default on their loans. It will be canceled automatically when homebuyers reach a 78% loan-to-value ratio, or what homebuyers owe versus their home's worth. However, Moorhead points out that homebuyers can actually cancel PMI early. They can do so by getting a new appraisal on the home, refinancing, or even paying mortgages faster. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl ca.finance.yahoo.com READ MORE ... Spotlight:Safeguarding against private lending scams and fraud in Ontario Recognize the red flags with this advice haltonhillstoday.ca READ MORE ... Here are the cities with the lowest property taxes in Ontario | insauga Managing property taxes in a province like Ontario can be incredibly demanding. Even though some provincial homeowners may be in the green with a fully paid-off mortgage, property taxes remain a looming constant. Luckily, real estate experts at Zoocasa have collected data on where in Canada — and by extension — Ontario has the lowest property […] insauga.com READ MORE ... Townhouse sold at significant loss shows just how much prices change in GTA A Mississauga townhouse sold at vastly different price points in just two years shows just how much real estate prices in the GTA tend to fluctuate... blogto.com READ MORE ... Canadian Inflation Higher Than Expected, Odds Of A Rate Cut Fall - Better Dwelling Despite the rumors, Canadian inflation is alive and doing well—even with rising unemployment. Statistics Canada (Stat Can) released its latest update to the Consumer Price Index (CPI), showing an unexpected and large jump in May. It was the first surprise reading of the year, and not what the central bank wanted to hear. This move […] betterdwelling.com READ MORE ... How much income do I need to qualify for a mortgage in Canada? - MoneySense Is your salary enough to buy a home in these Canadian cities? Here’s how much you need to earn based on May real estate data. moneysense.ca READ MORE ... Canada inflation sees unexpected increase Could a July rate cut now be off the table? 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

💡 25th June 2024 - Bad credit? Here's what you should know if you're trying to get a mortgage!

💥 Tuesday 25th June 2024 💥 Toronto GTA Power Of Sale FREE Listings! Daily Hot Picks: Toronto Real Estate News! "Maximize Your Real Estate Potential: Free Reports & Exclusive Listings!" "Daily Hot Picks: Toronto Real Estate News" delivers the freshest and most exciting updates from the Greater Toronto Area's real estate market. Each day, we highlight the hottest property listings, emerging market trends, and key insights that matter to buyers, sellers, investors, and real estate enthusiasts. Stay ahead with our expert analysis and discover the opportunities that can help you make informed decisions in Toronto's vibrant real estate scene. With "Daily Hot Picks," you get a curated selection of the most relevant news to keep you in the loop and on top of the market. Can buyers expect shorter closing timelines or expedited processes when purchasing properties under "Power Of Sale Listings," and what steps should they take to ensure a smooth transaction? When purchasing properties under "Power of Sale Listings" in Toronto, buyers might experience different timelines and processes compared to traditional real estate transactions. Here are the key considerations and steps buyers can take to ensure a smooth transaction: Potential for Shorter Closing Timelines Expedited Processes: Lender Motivation: Lenders are often motivated to sell properties quickly to recover the outstanding mortgage balance. This urgency can result in shorter closing timelines. Pre-Determined Terms: Many terms, such as the sale price and conditions, may already be set by the lender, which can streamline negotiations and expedite the process. Standardized Documentation: Less Negotiation: With standardized contracts and fewer opportunities for negotiation, the legal and administrative aspects of the transaction might proceed more quickly. Steps to Ensure a Smooth Transaction Get Pre-Approved for a Mortgage: Financing Ready: Secure mortgage pre-approval before making an offer. This not only demonstrates your seriousness as a buyer but also ensures that your financing is in place, which can speed up the closing process. Work with Experienced Professionals: Real Estate Agent: Choose a real estate agent experienced in power of sale transactions. They can guide you through the specific requirements and nuances of these deals. Real Estate Lawyer: Hire a real estate lawyer familiar with power of sale properties to review contracts and ensure legal compliance. Conduct a Thorough Inspection: Property Condition: Power of sale properties are typically sold “as-is,” which means the lender is not responsible for any repairs or improvements. Conduct a thorough home inspection to identify any potential issues and understand the true condition of the property. Budget for Repairs: Be prepared to budget for any necessary repairs or renovations, as the condition of these properties can sometimes be less predictable. Understand the Legal Process: Review Terms: Carefully review all terms and conditions set by the lender. Understand the implications of the "as-is" clause and any other specific requirements. Compliance with Regulations: Ensure that the transaction complies with all local regulations and lender requirements to avoid delays. Prepare for a Fast Closing: Be Ready to Act: Have all necessary documents and funds ready for a quick closing. This includes the down payment, closing costs, and any other required financial documentation. Clear Communication: Maintain clear and consistent communication with your real estate agent, lawyer, and lender to address any issues promptly and keep the transaction on track. Conclusion Purchasing a property under "Power of Sale Listings" can potentially lead to shorter closing timelines due to the lender’s motivation to sell quickly and standardized processes. However, to ensure a smooth transaction, buyers should be well-prepared with financing, work with experienced professionals, conduct thorough inspections, understand the legal requirements, and be ready for a fast closing. By taking these steps, buyers can navigate the unique challenges of power of sale transactions and successfully secure their desired property. Bad credit? Here's what you should know if you're trying to get a mortgage What is a bad credit score, and will you still be able to get a mortgage if you have one? A broker has advice on what you should know if you're looking to buy a home but are worried about your credit. ctvnews.ca READ MORE ... How much is capital gains tax in Canada?—and other reader questions answered - MoneySense Last month’s federal budget introduced changes to capital gains tax in Canada. This has raised many questions about who is impacted and what they should do. Here are some answers.  Last month’s federal budget introduced changes to capital gains tax in Canada. This has raised many questions about who is impacted and what they should do. Here are some answers.  moneysense.ca READ MORE ... Is Canada's housing market about to roar back into life? Bank of Canada rate cut has spurred optimism mpamag.com READ MORE ... May Canadian home sales drop slightly as new listings increase: Is a market revival coming? - REM We’ve had more available homes and mostly flat prices, but the Bank of Canada’s recent interest rate cut may soon boost buyer activity realestatemagazine.ca READ MORE ... BC landlady moved in with her tenant to avoid tenancy law The tenant got a rough ride from her landlady and then from the Residential Tenancy Branch infotel.ca READ MORE ... How college graduate aged 23 was able to buy $200,000 home that will make him $23,000 profit a year with just a $540 down payment Drake Zimba, 23, from Benton, recently closed on a three-bedroom duplex home on Gannett Street in Augusta with a $540 down payment. He plans on living in the home and renting out bedrooms. msn.com READ MORE ... How much variable-rate mortgage holders can save with lower interest rates - REM ‘Prospective buyers will be motivated to get off the sidelines, ultimately leading to more sales activity and the potential for an increase in prices’ realestatemagazine.ca READ MORE ... Are longer mortgage terms the solution to Canada's payment shock challenges? - Mortgage Rates & Mortgage Broker News in Canada Payment shocks at renewal due to shorter mortgage terms have become a growing concern. This has led some to question whether adopting longer mortgage terms would provide greater financial stability. canadianmortgagetrends.com READ MORE ... New incentive program aims to spur high-density, mixed-use development in downtown Brandon | CBC News A new downtown housing incentive program in Brandon aims to spur the construction of high-density residential mixed-use buildings in its core through tax credits, development charge offsets and capital grants. cbc.ca READ MORE ... This Week’s Top Stories: Canadian Real Estate Sellers Rush For The Exit, & Population Slows - Better Dwelling Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Real Estate Weakness Is Mostly Just Ontario & Nova Scotia Canadian home prices fell according to the national index, but it may not tell the whole story. About three-quarters of markets across the country actually saw home prices rise. If excluding […] betterdwelling.com READ MORE ... Fire destroys $1.5M home for sale in Hamilton Township, Ontario fire marshal investigates - Peterborough | Globalnews.ca Northumberland OPP say around 12:20 a.m. Saturday, emergency crews responded to a house fire reported at the corner of Leach Road and Rose Rose in Hamilton Township. globalnews.ca READ MORE ... Tenant alleges 14 people were trapped in elevator of Toronto's sketchiest condo Out of all the modern condominium complexes in Toronto, the ICE Condos indisputably have the sketchiest reputation, thanks to their long history of... blogto.com READ MORE ... Spotlight: Charming log home sits on over 100 ft of pristine waterfront Beautiful Lavigne home offers rustic charm and serene lakefront living sudbury.com READ MORE ... Heftier mortgage payments will keep throttling consumer spending long after rates fall Bank of Canada says Peak decline in household spending still to come with more homeowners poised to renew mortgages at higher rates. Read on cochranetimespost.ca READ MORE ... Canadian Homeowners May Be Facing Downsizing Pressure Amid Housing Affordability Crisis A recent Wahi survey reveals a concerning trend in the Canadian housing market, with downsizing emerging as the leading reason thedeepdive.ca READ MORE ... Is the capital gains hike legally binding? What it would take to change the rules - MoneySense A change to the capital gains inclusion rate takes effect on June 25. We look at the likelihood of another rules change before the proposal becomes law. moneysense.ca READ MORE ... The Bank of Canada cut the interest rate. What does that mean for the Kingston rental market? - The Queen's Journal Low interest rates may impact the student rental market with revitalization of the real estate industry, but Kingston still has issues with housing supply. On June 5, the Bank of Canada (BoC) announced a decrease in the policy interest rate to 4.75 per cent from five per cent. The five per cent interest rate was the highest rate for the last two decades, which remained since July 2023, according to BoC. The central bank cut interest rates to 0.5 per cent in response to the pandemic, which remained until March 2022. In June 2022, inflation, measured by the consumer price index, reached an all-time high at 8.1 per cent. To combat the high inflation, the BoC hiked interest rates 10 times until it reached five per cent in July 2023. queensjournal.ca READ MORE ... New report: Purpose-built rentals and market forces not meeting tenant needs "The housing market, left to its own devices, is not delivering what is needed" — proclaims a new report that examined purpose-built rentals supply in Canada money.ca READ MORE ... Calgary has the lowest share of renter households in Canada's largest cities Calgary is no renter’s paradise, at least judging by the findings of a recent study showing its housing stock has the lowest share of renter households among Canada’s largest cities. The study by Point2Homes, an online marketplace for homes for sale and for rent, found the city had roughly 155,060 renter households, making up about 31 per cent of all dwellings. That ranked the city 34th out of 50 cities in the study. Among large cities, however,... msn.com READ MORE ... House of the Week: $6.4 million for a Tudor mansion in Forest Hill with a Hollywood makeup room - 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: Articles in this newsletter are generated by AI." If you no longer wish to receive these Emails, please Unsubscribe Here