This article is from Better Dwelling and written by Stephen Punwasi - an exceptionally smart and funny Analyst.

It is very insightful. I hope you will enjoy it as much as I did. (PART THREE)

 

https://betterdwelling.com/the-future-of-canadian-real-estate-prices-part-3-price-targets-and-recovery/

Post CommentComments: 0Read Full Story

This article is from Better Dwelling and written by Stephen Punwasi - an exceptionally smart and funny Analyst.

It is very insightful. I hope you will enjoy it as much as I did. (PART TWO)

 

https://betterdwelling.com/the-future-of-canadian-real-estate-prices-part-2-modeling/

Post CommentComments: 0Read Full Story

This article is from Better Dwelling and written by Stephen Punwasi - an exceptionally smart and funny Analyst.

It is very insightful. I hope you will enjoy it as much as I did. (PART ONE)

 

https://betterdwelling.com/future-canadian-real-estate-prices-part-1-bullst-detection/

Post CommentComments: 0Read Full Story

From the Toronto Star, May 15, 2017 
Toronto sees April home prices grow as listings soar

Toronto region sales were down but prices still growing, says the Canadian Real Estate Association. Some experts feel the market is becoming more balanced but it’s not a buyer’s market yet.

 

A record 36 per cent increase in re-sale home listings last month hasn’t stopped prices from gaining ground in the Toronto region but it does have realtors adjusting their selling tactics.

Toronto area home prices in April grew about 5 per cent compared to March and 32 per cent year over year, according to the Canadian Real Estate Association (CREA) benchmark index.

At the same time the number of Toronto area residential sales declined 3.8 per cent compared to April 2016, and were down 6.5 per cent compared to March 2017.

 

That compares to a 1.7-per-cent drop in sales nationally between March and April and a 10-per-cent increase in the number of homes sold in Canada in the same period. 

 

Toronto and Greater Vancouver, the country’s most expensive real estate markets, continue to exert a significant influence on the Canadian picture, said CREA in its Monday release.

 

Taking those two cities out, would trim more than $150,000 from the average Canadian home price in April to $559, 317, 10.4-per-cent higher than a year earlier.

 

The benchmark price is based on a computer model of the value of various home characteristics in the same area, assigning a value to features such as lot size, square footage and the age of the property. 

 

It is the “gold standard” for measuring home prices because, unlike average price, it measures more than dollar volumes which can be skewed by a large number of sales in one particular housing category or price range, said CREA senior economist Shawn Cathcart.

 

Toronto continues to be the tightest real estate market in the country but it’s still too soon to say that Premier Kathleen Wynne’s April 20 Fair Housing plan has cooled the market, he said.

 

“In April, the Ontario government announced this suite of measures aimed at cooling the market and sales went down and new listings went considerably higher. That is one month and it’s still a wait-and-see right now,” said Cathcart. 

 

The respite in red-hot bidding wars is a relief for agents, who have been crying about the lack of inventory for months, said Toronto realtor Desmond Brown, who has been in the business for 19 years.

 

“This is a real blessing. A lot of us have been waiting a long time for a fairer market. With more listings on the market now, our buyers have a chance,” he said. But it also means that agents “have to stop playing games and start pricing the properties closer to what we feel the market value is,” he said.

 

While some agents would like to have the conditions of two months ago, Brown said, “We can’t be gambling we’re going to be getting $100,000, $200,000, $300,000 more than the asking price.”

 

Sellers who don’t get an offer on a pre-set date shouldn’t panic if they have listed their property at a fair market value. 

“It will be just a matter of time before we get an offer on it and we can negotiate a sale,” said Brown, adding that “negotiate” is a term that hasn’t been used in a long time in the Toronto area. 

 

It’s about managing client expectations in an environment where it takes longer to sell homes and there are fewer offers, said Dianne Usher, senior vice-president of Johnston and Daniel, a division of Royal Lepage.

 

“Instead of selling in three days, it’s taking five days. Instead of selling with 10 offers, it’s selling in five offers. Sometimes properties don’t sell on offer day and people go into panic mode thinking the sky is falling. But what’s also occurring is those same properties are selling a day or two later or a week later and they’re selling well over asking with one offer,” she said.

 

She says the market is becoming more balanced but it’s not a buyer’s market yet. 

Usher puts the flood of April listings down to a quick-start spring season in which all the inventory may have emerged at once and it may even include some carry-over listings from the fall when sellers chose to wait before putting their houses on the market.

 

The near failure in April of alternative mortgage lender Home Capital has injected some skepticism in the market too, said Usher.

 

Some buyers, such as people who are self-employed, require those “B lenders” to qualify for a mortgage, she said. But recently a little more caution has crept into consumers’ decision-making.

 

“We’re seeing a few more situations of buyer’s remorse and people are not stepping up to the plate as they were at the beginning of April or end of March,” she said. 

 

The real estate industry talks a lot about averages but there are huge variations in how the market responds to different locations and types of homes, said Lauren Haw, CEO of online brokerage Zoocasa.

 

A detached house in “fine condition” in Moore Park recently didn’t get any offers. But a semi-detached nearby that was completely done “studs up” sold for $850,000 over the asking price, she said.

Haw says buyers are still fighting over small homes.

 

“Listings are staying longer, we’re getting far fewer showings in the 905-region versus the 416,” she said.

 

“What we’re seeing now that we didn’t see a month ago is a lot more deals are going through conditionally. That’s not something that would be tracked in the numbers because a sale is a sale. For us to see conditional deals going through that is an indication there’s fewer offers per deal,” she said.

 

“We’re still seeing bidding wars if the location of the house is right and the quality is high,” said Haw, who says it’s increasingly important to do minor repairs, freshen the paint and properly stage properties before they hit the market. 

At Queen’s Park, Finance Minister Charles Sousa said it’s “still early to tell” if the provincial government’s foreign buyers’ tax is contributing to the apparent slowdown in real estate sales.

 

“What we do see is . . . there’s more supply in the mix, which is positive,” Sousa told the Star on Monday.

“The national numbers have tapered down some. The GTA numbers are still strong though there’s a lot more listings than before,” the treasurer said.

 

“We’re going to keep monitoring and see how it plays out,” he said.

 

Sousa emphasized that his “concern has always been about unintended consequences” that might affect the value of homeowners’ houses.

 

Meantime, an RBC housing update on Monday said the government’s new measures “have had a noticeable rebalancing effect on that province’s market.”

 

With files from Robert Benzie

Post CommentComments: 0Read Full Story

Boy do I love the fall - and even more so because I live in SUCH a great area IN the fall!

 

I have created this little list of a few of my favorites for you to enjoy....here is where you can find all of the details:

 

HOMESTEAD APPLE ORCHARDS - http://www.homesteadorchards.com/home.html

 

BROOKS FARMS - http://www.brooksfarms.com

 

VISTA PARK - Let the kiddos play at the park while you watch the sunset and enjoy the gorgeous fall colours overlooking all of Cooks Bay and parts of the bigger lake. Go to the top of West Park Heights in Keswick

 

HIKE OUR TRAILS - here in York Region, we are blessed with an abundance of amazingly well groomed hiking trails. go to: York.ca and look in the recreation section to find out more about where to access the trails

 

GEORGINA HARVEST DINNER - Support farmers and celebrate the abundance in our communities and across the Greenbelt by sharing a delicious, locally-sourced, meal prepared by Chef Cori Doern. https://www.georgina.ca/events/5th-annual-georgina-harvest-dinner


PIONEER HARVEST FESTIVAL- this is actually THIS weekend! Celebrate the arrival of Autumn with vintage farm equipment, food, crafts, artisans, vendors, historic demonstrations, FREE apple cider, live music, and more. https://www.georgina.ca/events/georgina-pioneer-village-harvest-festival


SIBBALD POINT AND HISTORIC ST. GEORGE'S CHURCH - 408 Hedge Rd, Sutton, ON - just a gorgeous bit of history in our area. Incredible views over lake simcoe and beautiful architecture.


HAVE DINNNER AND TAKE IN THE VIEWS AT THE BRIARS - There is just something about the feeling you get when you set foot on the Briars property. Old world charm. This is an incredible place to take in the fall colours...and the food is out of this world! http://www.briars.ca/dining-at-the-briars


HAVE DINNER AND LISTEN TO GREAT LIVE MUSIC AT THE LAKE SIMCOE ARMS! - A Jackson's Point icon - the Arms is a yummy place to eat any time - and even better when taking in the awesome line up of live music. http://www.lakesimcoearms.com/#home-1-section

 

I hope you will enjoy my suggestions. Please let me know if you have any questions, or even about YOUR favorite things to do in this area in the fall!

 

Bye for now, Krista

 

Post CommentComments: 0Read Full Story

 

We went in to check this place out today...wow - so cool! And RIGHT here in Georgina!

Great product, great vibe and some amazing ideas for the future including board rentals and a micro brewery! 

Located at 141 High Street, Sutton.

http://endlesswave.ca

Post CommentComments: 0Read Full Story

JUNE 29, 2016 - By Brandon Turner.


You work hard for your money, but does your money work hard for you? When you store your cash under your mattress (or in a bank if you aren't a weirdo), it will produce next to nothing. However, when you put money into an investment, your dollars go to work for you. 

Related: 8 Ways Real Estate Is Your Smartest Investment

Plain and simple: Investing is how you become wealthy.

But what is the best "job" for your dollars? How can your money earn the most and offer the least risk? In my opinion, one investment stands head and shoulders above the rest: real estate. 

Yes, real estate is subject to timing; and there are times when real estate is not the wisest investment. However, I believe that right now might be the greatest time to buy real estate that we'll see for another decade or longer. Here are seven reasons why. 

1. Interest rates are incredibly low.

Although the "Brexit" scandle that just rocked the world and caused financial markets to tumble, there is one segment of investors who will benefit from the news: those with money tied up in real estate. Why? Two words: Interest rates. Low interest rates lead to low monthly payments, which is great for real estate investors looking to maximize their profits. 

Interest rates, which have been at historically low levels for the past decade, have been slowly climbing over the past year, and until recently, most analysts believed that a series of rate hikes from the U.S. Federal Reserve was coming soon. But, with the shaky markets, the opposite has happened: Interest rates have dropped. According to a recent article, "The probability of a federal funds rate hike at the Fed’s next three monthly meetings has collapsed to 0 percent, and traders are assigning a less than 8 percent chance of a rate increase at all this year."

Several years from now, we'll look back and say, "Remember back in 2016 when you could get a mortgage under 4 percent? Those were the days!"

2. Banks are lending once again.

In the collapse of the real estate market in 2007 and 2008, many banks tightened their lending standards to such a degree that obtaining a mortgage became next to impossible for many Americans. However, gradually over the past several years, banks have once again begun opening their vaults and relaxing their standards.

No, this doesn't mean you'll be able to obtain a 125 percent loan-to-value mortgage with no money down based only on "your signature," as you may have done during the mid-2000s, but if you have a job and decent credit, obtaining a fixed-rate loan shouldn't be impossible. 

Related: 4 Ways to Kick-Start Your Career in Real-Estate Investment

3. Prices are reasonable.

Yes, real estate prices have climbed significanlty from their 2011 and 2012 lows. However, for those willing to hustle to find great deals, great deals can be found. This is especially true for investors who buy bank foreclosures. According to RealtyTrac, there were over 100,000 foreclosure filings in May of 2016, showing only a mild decrease over the past year.  

For more on buying foreclosures, check out my article "How to Buy a Foreclosure: The Comprehensive Guide to Buying a Foreclosed Home."

4. Technology has made investing significantly easier.

In the "olden days," investing in real estate took a significant amount of driving around, talking to people, waiting, looking at hundreds of pages of documents and other difficult, time-consuming tasks. Today, technology has made investing in real estate significantly easier. For example:

  • Advertising units is as simple as posting to Craigslist.
  • Screening tenants can be done online through a number of screening services.
  • Handyman and cleaning services can be ordered online.
  • Tenants can pay rent online rather than in person.
  • Your agent can set you up with automated email alerts for new listings. 
  • You can take virtual tours of neighborhoods using Google Street View
  • You can invest in real estate passively through crowdfunding websites.

And so much more. Today, a real estate investor barely needs to leave the comfort of home to manage a portfolio of rental properties, thanks to technology. 

5. Knowledge is free.

In the past, real estate knowledge was primarily taught by "get-rich-quick" gurus who traveled the country charging outrageous fees (up to $100,000) for "secret knowledge." While this practice is still common, the internet has democratized learning in a way that makes real estate investing education completely free.

There are thousands of blog posts, ebooks, podcasts, forums and more sources that help real estate investors connect. BiggerPockets.com, where I spend my nine-to-five, is a good example. Millions of new and experienced investors come to our platform monthly to learn and grow as investors -- for free. 

6. Your job is unstable.

While you might think you have a stable job, job security is not what it once was. Employers are all too happy to let go of hundreds or thousands of employees just so the price-per-share might increase a few percentage points. Efficiency is the name of the game, and your job might be on the chopping block. 

Today, the best job security is enjoyed by those who take an active interest in gaining skills and knowledge that can be used elsewhere. Real estate investing is one of the greatest ways to gain financial independence so your job can become optional rather than required. 

7. Ten years from now you'll wish you had started today

Finally, let's talk about the big one: Investing takes time. I'm not promising you that tomorrow you'll be rich if you start investing in real estate today. But I am telling you that in ten years you will likely look back at 2016 and say, "Why didn't I start back then?"

As previously noted, we are now at a unique point in history where real estate investing just makes sense. Wait too long and you'll miss out. 

Of course, I'm not telling you that any piece of real estate is going to make sense. You still need to understand what you are doing. You still need to do the math correctly. You still need to hustle to find the 1-in-100 deals that actually makes sense.

 

 
Post CommentComments: 0Read Full Story

Travel Europe, and you wil notice that every little town you visit appreciates and loves their LOCAL food....from farm to table. Here is Canada we tend to take our farm fresh and abundant food for granted. We forget that right around the corner from us, a farmer is working hard to grow nutrient rich, healthy food that we could enjoy as soon as it's cut/picked!

 

Well, it's time to stop buying produce that has travelled thousands of miles to reach us...THE GEORGINA FARMERS MARKET is now here! 

 

Here is some information on it. Hope to see you all there.

Post CommentComments: 0Read Full Story
CSS