Real Estate Blog - August, 2022

Canadian Real Estate Trends: Putting the Headlines into Context

We’ve all heard the hype: Canadian real estate is facing the deepest market correction in the last 40 years. But this isn’t the first time that experts have forecast corrections or crashes, none of which have materialized in recent history. So, let’s read between the headlines and examine some facts.

“Canadian real estate prices are dropping.”

More accurately, prices are plateauing from the meteoric rise we experienced throughout 2021 and in early 2022. According to the Canadian Real Estate Association (CREA), the MLS Home Price Index edged down 1.7 per cent month-over-month in July, but it was still up 10.9 per cent year-over-year. While we have seen some easing in prices, the sky is nowhere near falling. In fact, there…

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What Does It Mean to Refinance Your Mortgage?

Qualifying, renewing, refinancing, oh my! Mortgages can feel confusing sometimes. Luckily, it’s not always as complicated as it seems. If you’re feeling overwhelmed, there’s an abundance of resources in place to help you, including the expert advice of your REALTOR®! 

Let’s break down the process of refinancing your mortgage—what it means, when it happens, and why. 

What is refinancing?

Simply put, refinancing your mortgage is the process of breaking your current mortgage agreement and starting a new one. It’s essentially a “restart” button you can press to change your mortgage terms—including its length, rate type (fixed or variable), and your monthly payment amounts. You can change your lender, or stick with your current one.…

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A Beginner’s Guide to Flipping a House

The Canadian government has set its sights on the house-flipping industry to cool housing prices. Ottawa held that slapping an anti-flipping tax would help bring down home valuations, allowing a greater number of prospective homebuyers to purchase a property. Indeed, flipping a house in the Canadian real estate market can be wealth-generator for individuals and corporations, under the right market conditions. But how can you take advantage of such opportunities?

We have compiled a guide of the best tips to keep in mind.

A Beginner’s Guide to Flipping a House

#1 Do the Math

When flipping a house, some people think it’s merely about the market value. However, several other financial factors are critical to remember.

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Can You Afford a Cottage?

You want to buy a cottage, but can you afford a cottage? At the height of the coronavirus pandemic, cottages became hot commodities across the country and prices skyrocketed. Traditionally, these properties were considered recreational by nature, visited on weekends during the summer or for seasonal maintenance by winter.

But why can’t you live in your waterfront cottage all year long? This was the question many households had during the pandemic. When they had their answer from employers by way of remote work, they packed up their things and relocated to the likes of Muskoka, the Kawarthas and Haliburton, to buy one of the many beautiful cabins, chalets and cottages in the region.

Now that the Canadian economy is reopening, offices are opening…

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What Should Your Sellers Do to Get Ready to List?

Your client calls you and says they’re ready to sell their home, but before they list, they want to make sure they get the best possible return on investment. They ask if there’s anything they can do to help prep their home—what do you say?

Maybe a fresh coat of paint? Renovate the kitchen? Declutter the basement?

While listing photos and videos are critical for generating interest in your listing, it’s the work beforehand that can truly make the difference. Your clients trust you to lend your knowledge and expertise as they embark on their home selling journey.

The time and effort that goes into prepping a home is no joke, but we decided to have a little fun on social media to help aggregate some tips. Earlier this year, we asked our…

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What to Consider When Renting a Basement Apartment

Basement apartment renovations and rentals have become more common these days; however, it’s important to remember all rentals aren’t created equal. 

Renters should be aware of laws and regulations to make sure they’re getting a livable space that’s safe, to code and won’t cause them headaches in the future. As Sacha Clarke, REALTOR® and sales representative with Century 21 Percy Fulton Ltd. emphasizes, “you want to look for a good, legal basement apartment.” She shares some of the basics to consider when looking for a basement apartment.

What constitutes a basement apartment?

Separate from the living spaces above them, basement apartments can often have more square footage than standard apartments—of course, depending…

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How To Make an Offer in Cooling Canadian Housing Market

Has the pendulum in the Canadian housing market tilted toward homebuyers? This is the current debate unfolding among market analysts, real estate agents, homebuyers and sellers.

The research arm of Goldman Sachs recently dropped a bombshell of a forecast: Canadian real estate will witness the sharpest drop in the global economic downturn.

“The pandemic-induced housing boom appears to be cooling off,” the Wall Street titan wrote. “From Toronto to Auckland, a slowdown in the housing market is underway as interest rates in developed economies are set to climb rapidly.”

Indeed, it is a reasonable conversation to have after seeing some of the latest numbers being reported in the Canadian housing market, as the central…

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7 Ways to Control Allergies in Your Home

If you suffer from allergies, you know how a runny nose, watery eyes, and sneezing can wreak some serious havoc on your daily life, especially during the summer months when pollen, grass, and ragweed are at their peak. According to the Canadian Allergy, Asthma and Immunology Foundation, 20% to 25% of Canadians suffer from allergic rhinitis (sometimes referred to as “hay fever”). But some allergens aren’t seasonal and can cause you irritation throughout the entire year if you don’t address them at the source.

From pet dander to mould and dust, there are many indoor sources of allergens that can leave you sneezing and wheezing. The good news is an allergen-reduced home is possible, you just need to know how to minimize the most common household…

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The First-Time Home Buyer Incentive – 2022 Edition

Over the last two years, a new trend has formed in many parts of the Canadian real estate market: investors accounting for a considerable portion of the broader housing sector.

Indeed, with many investors purchasing single-family homes, acquiring townhomes and scooping up condominium suites, a chance at home ownership has become a challenge for many first-time homebuyers. Moreover, in an environment with little supply, the competition for residential properties was exacerbated by individuals or corporations adding to their vast inventory of homes.

Public policymakers have tried to intervene, but industry experts maintain that the only real solution is to build more housing. Until then, it seems that the Bank of Canada’s…

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Gizmos and Gadgets in Tech-Forward Kitchens

In the span of a century, no room in the average home has undergone such change as the kitchen. Once a utilitarian room tasked only with food preparation and clean-up, expanding floor space led to the introduction of the kitchen table for both work space and a place to eat informal meals. 

Today, it’s far more likely your kitchen is the central hub for social activity and transition between home and the outside world. Open-concept homes remove one or two walls from the traditional idea of a kitchen, using instead islands, pass-throughs, or breakfast bars to bring the food factory out of isolation. 

Today, the smart home concept brings the streaming world into all corners, and the kitchen is no exception. Today we look at the newest and niftiest…

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