Hire A Top Class Real Estate Agent Who Will Invest In Your Future
Yasir Khan's blog
Superstitions, stigmas and the supernatural – whether you believe in them or not, they can have a very real impact on how long it takes to sell your home and the price you’ll get for it. As a homebuyer, even the mere thought of a haunted house can have you running for your life. With that said, there’s always an upside, and in the case of a stigmatized house, an unbothered buyer could be in store for a quick closing and a great price.
The Atlantic Canada housing market has been sizzling since the early days of the coronavirus pandemic.
All across Canada, condominiums are being constructed on every corner, particularly in major urban centres. In fact, it was recently reported that the Toronto real estate market had the greatest number of cranes in the air, topping that of New York City and Tokyo. Impressive. During this phase, many people purchase pre-construction condo units. By doing this, buyers may receive discounts and perks. Of course, along with the pros there come some cons.
Despite a late summer rebound in the condominium sector, buying activity in the Greater Toronto real estate market remains more than 30 per cent off last year’s robust levels. Between January and August of this year, almost 21,000 condominium apartments and townhomes were sold, a stark contrast to the 30,383 sales that occurred during the same period in 2021. Values, however, have trended higher in the GTA, with the average condo price now sitting at $796,457, up from $688,137 one year ago.
The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs in September 2022. Sales for the month reached 5,038, but were down by 44.1 per cent compared to September 2021. New listings were also down on a year-over-year basis by 16.7 per cent to 11,237. This was the lowest number of new listings reported for the month of September since 2002. This is especially troublesome given that the stock of homes in the GTA increased markedly over the last 20 years.
One question many Canadians are asking is are higher fixed mortgage rates here to stay?
Will the carpet in my bathroom increase or decrease my property value? Ummm, downward movement is very likely (yuck!) but just how much will depend on a number of different factors. Whether you’re buying, selling or just browsing, and you’re not sure what’s relevant in the current Canadian real estate market, then you’ve come to the right place.
You’ve got your mortgage pre-approval, and you’re shopping the market for your perfect home. If you find one that’s priced too close to your limit, you run the risk of being house poor. Let’s look at what it is, what you can do to avoid it, and what to do if you are already house poor.
When selling a house, the agent is allowed to collect a referral fee when they connect the buyer or seller with a service provider, but there are rules. See what the agent must disclose about referrals.