🧐 29th Nov 2023 - Canadian Rents Outpace Income For The First Time In 60 Years: BMO

★ Wednesday 29th November 2023 ★ NEW vs Resale Homes - FREE Report! GTA Real Estate Hotline: Daily Sizzlers! "Where Opportunity Awaits: Reports & the Most Coveted Listings!" "GTA Real Estate Hotline: Daily Sizzlers" is your direct line to the most sizzling and impactful updates in the Greater Toronto Area real estate market. Every day, we provide you with a curated collection of sizzlers that highlight the hottest trends, market insights, and critical updates delivered directly to your inbox. Whether you're a potential buyer, seller, investor, or a real estate enthusiast, our "Daily Sizzlers" cover a wide range of topics, from heating up market dynamics to sparking investment opportunities and expert analysis. Stay connected and make well-informed decisions with "GTA Real Estate Hotline: Daily Sizzlers" as your trusted resource for navigating the dynamic GTA real estate landscape. What are the potential risks or considerations when buying a new home in Toronto? When buying a new home in Toronto, there are several potential risks and considerations that buyers should be aware of. While new homes offer modern features and fewer immediate maintenance concerns, it's important to conduct due diligence to avoid potential issues. Here are some considerations: Builder Reputation: Research the reputation of the builder. Reviews, testimonials, and feedback from previous buyers can provide insights into the builder's track record in terms of quality and customer satisfaction. Warranty Coverage: New homes in Ontario typically come with a warranty provided by Tarion. Understand the warranty coverage, its duration, and what is covered. This is crucial for addressing any defects or issues that may arise after the purchase. Completion Delays: Construction projects can sometimes experience delays due to various reasons, such as weather, labor shortages, or permitting issues. Be prepared for the possibility of the completion date being pushed back. Changes in Features or Finishes: Builders may have the right to make changes to features or finishes, especially if specified in the purchase agreement. Clarify the builder's policy regarding any potential modifications. Closing Costs: Be aware of the closing costs associated with the purchase of a new home, including land transfer taxes, development charges, and legal fees. These costs can add up, and it's essential to budget accordingly. Resale Value: Consider the potential resale value of the property. Factors such as location, neighborhood development, and market trends can impact the property's future value. Inspection of New Builds: Even though it's a new build, consider hiring a professional home inspector to ensure that everything is constructed according to the agreed-upon specifications. This can help identify any issues that need to be addressed before closing. Community Development: Research the development plans for the surrounding area. New developments can impact traffic patterns, amenities, and the overall feel of the neighborhood. Mortgage Financing: Ensure that you have pre-approved financing before entering into a purchase agreement. Changes in your financial situation or interest rates could affect your ability to secure a mortgage. Understanding Condo Fees (If Applicable): If you're buying a new condominium, understand the condominium fees and what they cover. Assess whether these fees are reasonable and fit within your budget. Future Construction: Check if there are any plans for future construction in the area. Ongoing construction nearby could affect your living conditions and property value. Working with a real estate lawyer, a qualified home inspector, and a reputable real estate agent can help you navigate these considerations and minimize potential risks when buying a new home in Toronto. Canadian Rents Outpace Income For The First Time In 60 Years: BMO  - Better Dwelling Canadian real estate prices are still seeing record growth, just not when it comes to sales. A new research note from BMO shows annual growth of rental prices grew at a record pace in October. They note the issue is complicated even further by rents outpacing income growth for the first time in 60 years.   […] betterdwelling.com READ MORE ... House of the Week: $5.5 million for a technicolour Georgian in Moore Park surrounded by gardens At 3,800 square feet, the property comes with a basement sauna, a loft lit by skylight and a backyard with a grotto-style pool torontolife.com READ MORE ... This $3 million Toronto home has a massive glass brick exterior wall Ellis Park Road is one of those streets in Toronto that has some of the most architecturally interesting and beautiful homes.  We've covered a bunc... blogto.com READ MORE ... TD doubles forecast for housing price drop amid ‘sudden surge in supply’ - National | Globalnews.ca One of Canada’s major banks is forecasting a steeper drop in home prices amid a “sudden surge” of supply in the real estate market. globalnews.ca READ MORE ... Canadian Homeownership Rate Is Falling Sharply For Young Adults - Better Dwelling Young Canadians may need to come to terms with the fact policymakers are driving ownership further out of reach every year. Numbers crunched by the Canadian Housing Statistics Program (CHSP) at Statistics Canada (Stat Can) reveals how ownership has changed over the past 50 years. For young adults, homeownership peaked nearly 40 years ago, and […] betterdwelling.com READ MORE ... Latest in mortgage news: Adult children of homeowners twice as likely to own a home - Mortgage Rates & Mortgage Broker News in Canada A key factor in determining whether an individual is likely to become a homeowner is whether or not their parents were property owners, a new study shows. canadianmortgagetrends.com READ MORE ... New mortgage charter may not be enough to protect homeowners As millions of mortgages are set to be renewed at much higher interest rates, new guidelines are meant to help protect homeowners, but some say the measures don’t go far enough. cbc.ca READ MORE ... Hamilton household needed about $170K to buy a home in October: report - Hamilton | Globalnews.ca An executive with mortgage broker Ratehub.ca says it actually got slightly easier to afford a house in Hamilton month over month. globalnews.ca READ MORE ... Half of young Canadians are fearing eviction: Habitat for Humanity Canada Read the full story and comment on stalbertgazette.com stalbertgazette.com READ MORE ... OPINION: Toronto’s increased Vacant Home Tax – more harm than good Toronto has the greatest proportion of Canada’s 160,000+ professional realtors – there’s opportunity to lead change and set examples for... realestatemagazine.ca READ MORE ... House of the Week: $4 million for a steel-framed detached in Trinity Bellwoods with 36-foot ceilings The 2,300-square-foot property also comes with automatic skylights, reclaimed barn doors, a screening room in the basement and a verdant backyard torontolife.com READ MORE ... Are increased rental costs taking a financial toll? We want to hear from you National data has shown that the average rental cost for one-bedroom units has been steadily increasing on a monthly basis for 16 Canadian cities. ctvnews.ca READ MORE ... The Canadian condo rental market: Challenges and market states Discover the untapped potential of the Canadian condo rental market and unlock your financial success. Don't miss out on this opportunity! realestatemagazine.ca READ MORE ... Canadian Mortgage Debt Growth Is The Slowest In Two Decades. Is It Too Slow? - Better Dwelling Canadian real estate markets have come to a halt, and so has mortgage borrowing. Bank of Canada (BoC) data reveals residential mortgage credit growth slowed further in September. Higher rates have almost killed activity, with debt accumulating at the slowest rate in 20 years. Is it too slow or the expected response following unprecedented real […] betterdwelling.com READ MORE ... Fewer Canadian homeowners over past decade: Provincial and generational differences Discover the surprising truth about Canadian homeownership. Provincial and generational differences revealed in this eye-opening report. Find out more! realestatemagazine.ca READ MORE ... Older Canadians increasingly deciding to age in their homes | CBC News CMHC says higher wealth and better health are two of the reasons seniors are staying put. cbc.ca READ MORE ... This Week’s Top Stories: Canadian Real Estate At Crisis Levels & Returning To An Inheritance Culture - Better Dwelling Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Housing Resembles A Return To Victorian-Era Inheritance Culture: Stat Can Canada is quickly reverting back to a Victorian-era style inheritance culture. That was the suggestion from the country’s national statistics agency, when exploring the role of parental wealth on the homeownership […] betterdwelling.com READ MORE ... I no longer qualify for a mortgage on my pre-construction property. What are my options? Experts say you have options to get around not qualifying for a mortgage after putting a down payment on a pre-con — including finding a co-signer. therecord.com READ MORE ... Man alleged to be behind mortgage scam living large; bye-bye self-checkouts: CBC's Marketplace cheat sheet | CBC News CBC's Marketplace rounds up the consumer and health news you need from the week. cbc.ca READ MORE ... BoC's Macklem: Rate hikes may be over Is the central bank finally done? mpamag.com READ MORE ... Hamilton council strikes down vacant home tax in the works for 4 years. Here's what happened | CBC News The program is supposed to start this winter and is designed to crack down on investors who buy homes and let them sit empty instead of renting them out for more than half a year, staff say. It is one of many programs the city is implementing to use to ease the affordable housing crisis.  cbc.ca READ MORE ... Average Canadian rent price hits new high for sixth consecutive month: report The average asking price for a rental unit in Canada reached $2,178 last month, a 9.9 per cent year-over-year increase and continuing a trend that has seen asking rents hit new highs for six months in a row. That's according to the latest rental price report released by Rentals.ca and Urbanation, analyzing monthly listings from the former's network. The findings show while October's annual rate of rent growth in Canada was down from the 11.1 per cent jump in September, it still marked the second fastest annual increase of the past seven months. On a monthly basis, average asking rents building.ca READ MORE ... $1.4 million Toronto loft is on the market for the first time ever We've written about the many lofts in 24 Noble Street as the old warehouse is home to some very cool units, but we've never talked about its neighb... blogto.com READ MORE ... Mortgage Growth in Canada Hasn’t Been This Weak Since 2001 - BNN Bloomberg Mortgage growth in Canada is the slowest it’s been in more than two decades as higher borrowing costs and elevated prices for homes and apartments weigh on real estate activity. bnnbloomberg.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 Greater Toronto Area 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 & 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. If you no longer wish to receive these Emails, please Unsubscribe Here

💥 28th Nov 2023 - Toronto Housing Bubble: Is It Ready To Pop?

💥 Tuesday 28th November 2023 💥 How To Sell A Home That Didn't Sell! Greater Toronto Real Estate Insights: Daily Fuel! "Creating Your Real Estate Triumph: Reports & Irresistible Listings!" "Greater Toronto Real Estate Insights: Daily Fuel" is your daily source of fueling your knowledge and insights in the Greater Toronto Area real estate market. Every day, we provide you with a power-packed dose of market insights, trends, and essential information delivered directly to your inbox. Whether you're a potential buyer, seller, investor, or a real estate enthusiast, our daily fuel covers a wide range of topics, from market dynamics to investment opportunities and expert analysis. Stay fueled with the latest market knowledge and make informed decisions with "Greater Toronto Real Estate Insights: Daily Fuel" as your trusted source for navigating the dynamic GTA real estate landscape. Why didn't my Home Sell in its previous Listing? Several factors can contribute to a home not selling in its previous listing. While I don't have specific information about your property or its previous listing, here are some common reasons why homes may not sell: Overpricing: One of the most common reasons for a home not selling is overpricing. If the listing price is significantly higher than the market value, potential buyers may be discouraged or not even consider the property. It's crucial to work with a real estate agent who can help you determine the appropriate listing price based on the current market conditions. Inadequate Marketing: Effective marketing is essential to attract potential buyers. If the previous listing did not have high-quality photos, a compelling description, or a well-executed marketing plan, it may have gone unnoticed by potential buyers. Property Condition: The condition of the property, both inside and outside, can significantly impact its sale. If the home is in disrepair, has maintenance issues, or lacks curb appeal, it can deter buyers. Location: The location of a property plays a significant role in its marketability. Factors such as proximity to amenities, schools, transportation, and safety can affect a home's appeal to buyers. Timing: Market conditions and timing can influence a property's sale. If the previous listing occurred during a slow real estate season or when the market was saturated with similar properties, it might not have sold. Accessibility: If the property was difficult to access for showings, it could have limited potential buyers from viewing it. Seller's Motivation: A seller's motivation to negotiate and close a deal can influence the outcome. If the seller was not flexible on terms, pricing, or negotiation, it could have hindered the sale. Competition: The presence of similar or more attractive properties in the market can divert attention away from your home. It's essential to evaluate the competition in your area. Economic Factors: Broader economic factors, such as interest rates and the overall health of the economy, can affect the real estate market. Economic downturns or uncertainty can impact buyers' decisions. If your home did not sell in its previous listing, it's essential to reevaluate these factors, make necessary adjustments, and work with a knowledgeable real estate agent to relist the property successfully. An experienced agent can provide insights, offer a fresh perspective, and help you develop a strategy to address any shortcomings in the previous listing. It's also an opportunity to ensure that your home is competitively priced, well-marketed, and in good condition to attract potential buyers. Toronto housing bubble: Is it ready to pop? - MoneySense Toronto’s surging housing market faces uncertainty. Learn about soaring prices, economic factors and the future of affordable homeownership. moneysense.ca READ MORE ... Learn your renter rights at tenant law and 'renoviction' seminar in Brampton | inBrampton Tenants worried about "renovictions" and questions about their rental rights could find some answers from legal experts in Brampton at an information session later this month. insauga.com READ MORE ... FIRST PERSON | When my marriage shattered, I opened my home to guests to pay the bills | CBC News When Lynn Lau found herself struggling to pay the rent for her family home as a newly single parent, she opened a guesthouse. cbc.ca READ MORE ... Rent in New Brunswick surges another 9 per cent in past year | CBC News The average cost of rent in New Brunswick in October was nine per cent above where it was last October, according to figures released Tuesday by Statistics Canada. cbc.ca READ MORE ... Boost for landlords of 1.6m properties as Chancellor gives rental cash injection Hundreds of thousands of landlords will receive a cash injection worth £1.3bn next year in a move that will protect property owners from tenants who are at most risk of falling into arrears. ca.sports.yahoo.com READ MORE ... Canadian government provides $20M 'low-cost' loan to build rental apartments on ‘underutilized’ land in Orillia 48 new units will be built at 175 Oxford Street in Orillia simcoe.com READ MORE ... Gibson home listed for $800K ‘needs a little bit of love’ This Proctor Boulevard home features two balconies and tiger oak floors. thespec.com READ MORE ... 5-bedroom home in Richmond, B.C., listed for $750K – but there's a catch Would you purchase real estate with a stranger? While many prospective buyers would likely balk at the concept, an online listing offering "undivided half-interest" in a 2,992-square-foot home in B.C.'s Lower Mainland for $750,000 might give some a moment’s pause. bc.ctvnews.ca READ MORE ... Here's another major sign Toronto's real estate market is in big trouble right now There are a handful of trends that show how badly Toronto's housing market is flopping right now, and the latest may be the most concerning of all.... blogto.com READ MORE ... Most neighbourhoods in the GTA continue to see underbidding With greater selection and fewer competing offers, homebuyers can take more time to shop around for their ideal home and negotiate favourable offer terms Since June 2023, the number of homes selling for below list price in the Greater Toronto Area has been on an upward trajectory. Wahi’s latest analysis of overbidding and underbidding neighbourhoods in the GTA shows nearly 81% of the region’s neighbourhoods were in underbidding territory in... msn.com READ MORE ... Get a mortgage rate hold to avail of today's lower rate if rates increase - Mortgage Matters It’s no secret the mortgage market is constantly fluctuating—rates go up and down and make it difficult to predict the best time to buy a house or secure the rate for your mortgage renewal or refinancing. castanet.net READ MORE ... The looming threat of Canada's mortgage renewal crunch Watch economist Dylan Smith on how the mortgage renewal crunch may force Bank of Canada to cut rates sooner rather than later ca.finance.yahoo.com READ MORE ... Bank of Canada may cut rates to ease mortgage renewal stress, says economist By Investing.com Bank of Canada may cut rates to ease mortgage renewal stress, says economist ca.investing.com READ MORE ... LACKIE: Variable rate mortgages back in play It’s been a long time since I have heard anyone suggest variable rate mortgages are making a comeback. But according to mortgage brokers out there doing deals right now, that seems to be what’s happening. At the very least, they’re being thrown into the equation for borrowers’ consideration. But why would that be? After all, we all know that so much of the pain out there right now is being felt by people who got themselves into trouble when... msn.com READ MORE ... Despite rent controls, P.E.I. rental costs growing faster than most provinces | CBC News Rental costs on P.E.I. are rising at one of the fastest rates in the country despite the fact that the provincial government has implemented rent controls to try to limit those increases. cbc.ca READ MORE ... $10 million Oakville home has all the spoils of the ultra rich The best part of being an adult is that you can do whatever you want – barring illegal things.    And that's especially true when it comes to decor... blogto.com READ MORE ... It's a public road, not a driveway, B.C. judge rules A section of a gravel and dirt roadway in Pouce Coupe does meet the definition of a public highway under section 42 of the Transportation Act, according to a B.C. Supreme Court ruling. bc.ctvnews.ca READ MORE ... Home prices down more than 6% this year in Oakville, Burlington, Milton - inHalton | Local Online News An online real estate company says home prices are down in Oakville, Burlington, Milton and Halton Hills compared to last year. Wahi, which bills itself as an innovative online brokerage, released its 2023 GTA Housing Snapshot Report covering Toronto as well as surrounding regions Durham, Halton, Peel and York. “This report features insights, analysis, and […] inhalton.com READ MORE ... Ottawa aims to head off looming mortgage cliff with relief for borrowers Economic update unveils new mortgage charter and commits billions to building new homes ca.finance.yahoo.com READ MORE ... Government pledges to spur rental construction in tight market New capital for loans will help projects pencil out as conditions stabilize vancouverisawesome.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 Greater Toronto Area 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 Program + Cash For Renovations & 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 • OLD Fan Page: Rent to Own Homes GTA • Facebook NEW Fan Page Blog • Instagram • LinkedIn • Pinterest • Twitter • Tumblr • Youtube • Client Testimonials Subscribe To My FREE Daily Curated Hot News Articles e-Newsletter! © Copyright 2023 ManojAtri.com All rights reserved. If you no longer wish to receive these Emails, please Unsubscribe Here