The Blog
How Much Property Can You Really Afford? A Comprehensive Guide
Welcome to today's discussion, where we delve into the crucial question of how much property you can actually afford. Whether you're considering renting or purchasing real estate, we've got you covered. Throughout this blog post, we'll explore practical rules, sample salary ranges, and provide valuable insights to help you navigate the complex world of property affordability.
Navigating the Bank of Canada's Interest Rate Increase
In a recent announcement, the Bank of Canada revealed an increase in interest rates by 0.25%. As a realtor, it's my responsibility to keep you informed about market changes that can affect your financial decisions. In this blog post, we'll dive into what this interest rate hike means for homeowners and buyers, offering valuable insights and guidance to help you navigate the shifting real estate landscape.
6 Real Estate Tips for First Time Buyers
Buying your first home is an exciting and monumental milestone in your life. It represents a significant investment and a place where memories will be made. However, navigating the complex world of real estate can be overwhelming for first-time homebuyers. To help you make informed decisions and avoid common pitfalls, we've put together six essential tips to guide you through the process.
The Bank of Canada has raised the interest rate by 0.25%!
The Canadian housing market has been a topic of significant interest and discussion, and recent developments have brought even more attention to it. The Bank of Canada has announced a 0.25% increase in the interest rate, prompting concerns and speculations about its potential effects on the housing market. In this blog post, we will delve into the implications of this interest rate hike, shedding light on its impact on fixed rates, market sentiment, and the prevalent "fear of missing out" phenomenon.
How Your Credit Score Will Impact Your Home Purchase
Chattels vs Fixtures
First Steps to Buying a House
COVID-19 & Toronto Real Estate Market
Keep in mind the situation regarding COVID-19 is changing on a day-to-day basis. This article is a breakdown of the current COVID-19 situation (as of March 25th, 2020) and how it relates to the Toronto real estate market from the perspective of a local Toronto Realtor.
We're entering the ordinarily busy spring market for Toronto real estate, but as it stands now, everything is at a standstill. Sellers are reluctant to let any potential buyers into their homes and buyers are self-isolating, not leaving the house. Across the GTA, the number of listings is down, and the amount of demand is down - way down. I have personally experienced plenty of listings in Toronto cancelled due to the COVID-19 pandemic.
Bank of Canada cuts interest rates - what you need to know
The Bank of Canada cut the interest rate last week in an apparent bid to deal with the economic shock created by the threat of coronavirus.
The Bank reduced the national interest rate by 0.50% to 1.25% on the 4th March, following the cut by the US Federal Reserve the day before.
The threat of coronavirus has caused business activity to fall sharply in some regions and the currency to depreciate, while the Bank warned that business and consumer confidence could fall further.
Toronto Real Estate 2020 Price Growth
Now we’re into the new year it seems a good time to reflect on where house prices are likely to end up in 2020. Over the course of 2019 Toronto house prices increased by 4% (Toronto Real Estate Board), but I would expect an increase in the region of 6-7% and even 8% this year.
Why? Well if the start of the year is anything to go by, there’s a lack of properties being listed and significant demand for the ones that are available.
I’m hearing tales of properties with 30-40 offers and as much as 77 offers! – and that kind of competition is going to push prices up. Sometimes sellers price properties on the cheap to attract multiple offers, but it’s now happening on properties that seem fairly priced too.