The Blog
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.
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 A Toronto Real Estate Agent Determines Price
Securing Your Beloved Home
Home Renovations That Will Help Your Home Sell
Chattels vs Fixtures
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.
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.
Hidden Costs to Prepare for When Selling Your Home
