2023 | Page 2 of 2 | Real Value Home

May 5, 2023 Yash Paliwal Comments Off For Buyers, More Info, News

GTA housing market showing signs of tightening: Toronto real estate board

The Toronto Regional Real Estate Board ( TRREB) recently revealed that the housing market in the Greater Toronto Area (GTA) is showing signs of tightening. In April, the average price of a home in the GTA rose (4%) four percent from March 2023 , while sales numbers climbed to 7,531 – an increase of about nine percent from the previous month. Although sales were down 5.2 percent from the previous year, the decline in new listings by over a third from a year before fueled more competition between buyers. As a result, many potential buyers who were hesitant to purchase earlier this year are now competing in bidding wars to secure homes.

According to TRREB president Paul Baron, the demand for homes is coming from buyers who have adjusted to higher borrowing costs and are taking advantage of lower selling prices compared to the same time last year. However, this rising demand is being met with a decrease in supply. In April, the city experienced much lower supply levels than usual, with new listings totaling 11,364 – a 38.3 percent decrease from the previous year.

Despite the increase in competition between buyers, prices still remain down from last year’s levels. Detached homes fell 8.3 percent since last April to $1,489,258, while semi-detached properties dropped 9.8 percent to $1,135,599. Townhouses slid 3.2 percent to $986,121, and condos were down eight percent to $724,118.

The challenge for the market now is to meet the rising demand with adequate supply, but many sellers are still at odds with timing the market. Some believe prices still have further to recover, while others are reluctant to become buyers in today’s market environment, given higher mortgage rates and tight inventory.

Real estate agents, however, are seeing bidding wars become more commonplace in recent months, which suggests that buyers are becoming more comfortable with the current market conditions. As Gyanesh Paliwal, a Mississauga REALTOR with RE/MAX Realty Specialists inc., Brokerage noted, many potential buyers are still waiting for the bottom of the market to happen, but the current reality is that prices are going back up again and there is price increase trend.

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April 19, 2023 Yash Paliwal Comments Off For Buyers, More Info, News, Tips & Advice

Real Estate Investors and Upgrading Sellers: A Guide for Mississauga Home Sellers & Investors

As a real estate agent based in Greater Toronto of Ontario, I’ve had the opportunity to work with many different types of clients, from first-time homebuyers to seasoned investors. In Mississauga, there are two groups of clients that I’ve noticed are particularly interested in the real estate market: upgrading sellers and real estate investors.

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UPGRADING SELLERS IN MISSISSAUGA

If you’re a Mississauga homeowner looking to upgrade to a larger home, it’s important to keep a few things in mind. First, make sure you’re aware of current market conditions. While Mississauga has been experiencing a strong seller’s market in recent years, things can change quickly in the real estate market. Your agent can help you stay up to date on market conditions and provide you with valuable insights into how to price your home competitively.

Second, consider the timing of your move. If you’re looking to upgrade to a larger home, you may want to sell your current home first in order to have a larger down payment for your next purchase. However, this can be risky in a fast-moving market like Mississauga’s, where homes can sell quickly and you may not have time to find your next home before your current one sells. Your agent can help you navigate these challenges and come up with a plan that works for your unique situation.

Finally, consider making upgrades to your current home before putting it on the market. Simple cosmetic upgrades like fresh paint, new carpet, or updated light fixtures can go a long way in making your home more attractive to potential buyers. Your agent can provide you with guidance on which upgrades are likely to provide the biggest return on investment.

Real Estate Investors in Mississauga

If you’re a real estate investor in Mississauga, you’re likely already aware of the many benefits of investing in this market. With its strong economy, growing population, and high demand for housing, Mississauga in ONT, Canada is an excellent place to invest in real estate.

However, as with any investment, it’s important to do your due diligence and work with an experienced agent who can help you identify the best investment opportunities. Look for properties that are located in desirable neighbourhoods, have good potential for rental income, and are priced competitively.

When it comes to financing your investment, it’s important to work with a lender who understands the unique needs of real estate investors. Many lenders offer specialised financing options for investors, including short-term loans, bridge loans, and lines of credit.

Whether you’re a upgrading seller or a real estate investor in Mississauga, there are many opportunities to succeed in this dynamic and growing real estate market. By working with an experienced agent who understands the local market and can help you navigate the challenges of buying or selling real estate, you can achieve your goals and enjoy a successful and profitable real estate experience.

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April 19, 2023 Yash Paliwal Comments Off For Buyers, More Info, News, Tips & Advice

Investing in Mississauga Real Estate: A Guide for First-Time Homebuyers & Investors

If you’re a first-time homebuyer or investor in Mississauga, you may be wondering whether it’s worth considering real estate as an investment. With its diverse population, growing economy, and proximity to Toronto, Mississauga is a popular destination for homebuyers and investors alike. In this guide, we’ll explore some of the investment opportunities available in Mississauga real estate, and offer some tips for first-time buyers looking to make the most of their investment.

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MISSISSAUGA REAL ESTATE MARKET OVERVIEW

The Mississauga real estate market has been on an upward trend in recent years, with home prices increasing steadily. According to the latest data from the Toronto Regional Real Estate Board (TRREB), the average selling price for a Free Hold (Semi or Detached) home in Mississauga in March 2023 was $1,164,784, up 14.9% from the same period last year.

You may get a 2 Bedroom + 2 Bathroom 1 Parking Spot – Condo apartment in Mississauga DownTown near Square one for around $700,000. Despite the COVID-19 pandemic, the local market has remained robust, with demand outpacing supply in many areas.

Investment Opportunities for First-Time Homebuyers

For first-time homebuyers in Mississauga, there are several opportunities for own living as well as great investment for the future and worth considering. One popular option is to buy a starter home or condo in an up-and-coming neighbourhood, with the goal of eventually selling the property for a profit. Some neighbourhoods that may offer potential for future appreciation include Port Credit, Erin Mills, DownTown Square One area, East credit and Meadowvale.

Another option is to purchase a rental property as an investor in Mississauga and generate passive income through rent. With Mississauga’s strong rental market and growing population, there is always demand for rental properties. However, it’s important to carefully consider the financial implications of owning a rental property, including mortgage payments, maintenance costs, and potential vacancies.

The best strategy is to work with a local real estate agent who can help you navigate the market and the best price to pay for your first home or Investment property in Mississauga. A skilled agent can help you identify the unique features of a home or Condo apartment that may appeal to you as buyers, and provide guidance on each step. Do you know that there is only one web site / portal recommended or approved by REALTOR.CA and RE/MAX, Canada for checking the 100% Genuine and real reviews of Real Estate agents in Canada and that is: RankMyAgent . Gyanesh Paliwal of RE/MAX Mississaga has been ranked as BEST of Mississauga in 2021 and 2022.

Whether you’re a first-time homebuyer or investor in Mississauga, real estate can be a smart investment opportunity. By understanding the local market and working with experienced professionals, you can maximise your investment and achieve your real estate goals. If you’re considering buying or selling a property in Mississauga, don’t hesitate to reach out to a local real estate agent for guidance and support.

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April 13, 2023 Yash Paliwal Comments Off For Buyers, More Info, News

Brampton Launches Landlord Registration Program to Target Illegal Suites and Improve Rental Housing Standards

Brampton City Council has approved plans for a new rental landlord registration and licensing program aimed at tackling the issue of illegal rental suites and protecting tenants in the city. The two-year pilot project, which is set to launch in the first quarter of 2024, will bring in new regulations for Brampton landlords, drawing on “best practices” from similar programs in Toronto and Mississauga.

The pilot will focus on Wards 1, 3, 4 and 5, identified by city staff as “hotspot areas” with the highest concentrations of property standard issues across the city. The program will introduce measures such as a cap on the number of rental units allowed per housing type, random inspections of short-term rentals, a limit on the number of residents in lodging homes, and a “Rental Housing Code of Conduct” outlining tenant and landlord responsibilities. A demerit point system for landlords may also be implemented to encourage compliance with the City’s bylaws.

The program will be funded through licensing and renewal fees, which will also help offset enforcement costs. The move comes as the Province recently announced $6.5 million in funding for additional Landlord Tenant Board (LTB) adjudicators and staff to improve service standards and reduce dispute decision times.

Peel ACORN, a group of residents and rental advocates, has been pushing for more tenant protections in Brampton and across the province. They have been vocal about the need for measures to protect low and moderate-income buildings from being purchased by developers and for limits on how many buildings “financialized landlords” can own. ACORN will hold a rally in Brampton on Wednesday to demand action from the federal government on the affordable housing crisis.

By introducing the rental landlord registration and licensing program, Brampton aims to reduce the number of illegal rental suites, improve rental housing standards, and better protect tenants. The program will also provide the City with more enforcement options when dealing with bad actors, ensuring a safer and more secure rental housing market.

As a real estate expert, we at RE/MAX Team Paliwal recommend that investors stay informed and closely monitor market developments to make informed decisions.

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April 13, 2023 Yash Paliwal Comments Off For Buyers, More Info, News

Toronto Real Estate Market Shows Signs of Rebound: Sale Prices Exceed Listing Prices for the First Time in a Year

The Toronto Regional Real Estate Board’s latest Market Watch report reveals that the Greater Toronto Area’s real estate market is rebounding after a slump in previous months. The report shows that the market is tightening, with an increase in sales and a boost in sale prices.

In March, the average sale price of homes in the GTA exceeded the average listing price for the first time since May 2022. Although the average price of $1,108,606 was 14.6% lower than in March 2022, the monthly rise suggests a potential rebound in the market.

Realtors using TRREB’s Multiple Listings Service (MLS) reported 6,896 sales in March, a decline of 36.5% compared to March 2022. However, compared to the previous month, which saw a steeper decline of 47%, these figures indicate that the market is entering a more active period.

The rise in sales and value has increased competition among prospective buyers. According to TREB President Paul Baron, “competition between buyers was heating up in many GTA neighbourhoods.” He also noted that “demand for ownership housing will continue to recover this year, with first-time buyers leading the way.”

Although the number of new listings in March increased significantly from the previous month, it remains lower than the rates reported last year. With 11,184 new listings, the market is still lagging behind by about 44%.

TREB CEO John DiMichele stated that “first-time buying intentions will remain strong” due to population growth and immigration, but emphasised the need for more purpose-built rental units in the market.

In conclusion, the Toronto real estate market is showing signs of recovery, with increased sales and prices. As the market continues to tighten, it is important for buyers to act quickly, and for policymakers to focus on increasing rental supply to meet demand. As a real estate expert, we at RE/MAX Team Paliwal recommend that investors stay informed and closely monitor market developments to make informed decisions.

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March 16, 2023 Yash Paliwal Comments Off For Buyers, More Info, News

Are Canadian Interest rate cuts or reductions expected in July 2023?

The recent drop in Canada’s short-term bond yields is due to investor speculation that the Bank of Canada may lower interest rates in the near future. This is in response to the collapse of some regional banks in the United States, which has caused upheaval in global markets.

The two-year benchmark yield in Canada has dropped significantly, by over 41 basis points, to 3.538 per cent in Toronto. This represents a total decline of approximately 61 basis points since March 9th 2023, marking the largest two-day drop in over 27 years. The last time the benchmark dropped this much over two trading sessions was in October 1995.

Traders in overnight interest swaps are now pricing in 50 basis points of rate cuts from the Bank of Canada by July, a significant shift from last week when traders were expecting the next move to be a hike. This change in pricing reflects concerns about financial stability spilling over from the United States into Canada, prompting investors to rethink their reaction function in the Canadian market.

According to Canadian Imperial Bank of Commerce (CIBC) fixed-income strategists Ian Pollick and Sarah Ying, the danger now is that we may see an overreaction to bad data in the coming months as the market becomes more sensitive to rallies. This is something we have yet to see in this economic cycle.

In conclusion, this recent shift in Canada’s bond market highlights the impact of global events on local economies. As a real estate expert, we at RE/MAX Team Paliwal recommend that investors stay informed and closely monitor market developments to make informed decisions.

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March 3, 2023 Yash Paliwal Comments Off For Buyers, More Info, News, Tips & Advice

Navigating the Booming Housing Market in the Greater Toronto Area

As the Greater Toronto Area’s housing market continues to boom, it can be challenging to navigate as a seller. With not so record-high prices of homes as were in 2021 and until February 2022, it’s important to understand the market conditions and make informed decisions about selling your property. In this article, we’ll explore the current state of the housing market in the GTA and provide tips for selling your home in a competitive market.

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UNDERSTANDING THE MARKET CONDITIONS

Although real estate prices came down a bit after the interest increases in 2022, the demand for many types of homes in different parts of the greater golden horseshoe is still there in the first part of 2023. It’s important to note that the market is not homogeneous. Different neighbourhoods and types of properties may have varying market conditions. For example, detached homes in suburban areas may be in higher demand than condos in downtown Toronto. It’s important to work with a real estate agent who has experience in your specific market to understand the conditions and pricing strategies that will work best for your property.

Tips for Selling home in Greater Toronto,Mississauga after interest increase effects in 2023.

Price your property appropriately: While high prices may be tempting, overpricing your property can actually hurt your chances of selling. Work with your real estate agent to set a competitive and reasonable price for your property based on market conditions and comparable sales in your area.
Highlight your property’s unique features: In a competitive market, it’s important to make your property stand out. Highlight any unique features or amenities that could appeal to potential buyers, such as a large backyard or upgraded kitchen.
Make necessary repairs and upgrades: To make your property more attractive to buyers, consider making any necessary repairs or upgrades. This could include fixing any leaks, repainting rooms, or upgrading appliances.
Offer virtual tours: Due to the pandemic, many buyers may not be comfortable visiting properties in person. Consider offering a virtual tour of your property to make it more accessible to potential buyers.
Work with an experienced real estate agent: Finally, working with an experienced real estate agent is crucial in a competitive market. Look for an agent who has experience in your specific market and who can provide guidance on pricing, marketing, and negotiations.

Navigating the booming housing market in the Greater Toronto Area can be challenging, but with the right strategies and guidance, it’s possible to sell your property successfully. By understanding market conditions, pricing your property appropriately, highlighting its unique features, making necessary repairs and upgrades, offering virtual tours, and working with an experienced real estate agent, you can set yourself up for success in a competitive market.

Still looking for more answers to sell your house for the top dollars? No Problem, contact us in the link below and tell us about your requirements and one of our Real Estate Specialists will get in touch with you to give you customised services. Please note all our services when you buy/purchase any kind of real estate (residential/commercial property) are totally FREE !!!

Get in touch with a TEAM Paliwal agent today

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January 16, 2023 Yash Paliwal No Comments For Buyers, Tips & Advice

Canada Greener Homes Loan Canadians Can Now Borrow Up To $40K From The Feds Interest-Free

Canadians looking to make their home more energy efficient and environmentally friendly can now get an interest-free loan of up to $40,000 from the federal government. On Friday, June 17, 2022 applications for the Canada Greener Homes Loan opened to eligible people who are planning qualifying green upgrades to their property.

The loan is offered in conjunction with the Canada Greener Homes Grant, as a way of supporting Canadian homeowners to reduce their property’s environmental footprint. Initially, it will be open to eligible homeowners who are applying or who already have an open application for the Canada Greener Homes Grant.

In September, 2022 eligibility was expanded further to include those who have already received a grant, among others. The initiative will provide $4.4 billion in interest-free loans to as many as 175,000 homeowners across the country. While each household can get up to $40,000, smaller loans of $5,000 and above will also be offered out.

It’s an unsecured personal loan on approved credit, with a repayment term of 10 years interest-free. It will only be available to those who want to take on eligible projects though, which could include upgrades like attic/ceiling insulation, exposed floor insulation, air-sealing, new windows and doors, space and water heating, and more.

Other sections of the eligibility criteria state that applicants must be a Canadian homeowner, the property must be your primary residence and a completed pre-retrofit evaluation must have already been completed. Further details related to eligibility can be found online.

If you’ve already started or completed work on your home to make it greener, you’re unlikely to qualify for the loan. The same applies if you’ve had a retrofit that wasn’t recommended by an energy advisor. To get started, check your eligibility for the loan and submit an application first via the Canada Greener Homes Grant.

Good luck, homeowners!

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January 10, 2023 editor Comments Off Housing Market Reports

Greater Toronto Area Real Estate Market JANUARY 2023

As we moved from 2022 into 2023, the Greater Toronto Area (GTA) housing market unfolded as expected. The number of January sales and the overall average selling price were similar to December 2022. On a year-over-year basis, both sales and prices were down markedly, continuing to highlight the impact of higher borrowing costs on affordability over the last year.

“Home sales and selling prices appear to have found some support in recent months. This coupled with the Bank of Canada announcement that interest rate hikes are likely on hold for the foreseeable future will prompt some buyers to move off the sidelines in the coming months. Record population growth and tight labour market conditions will continue to support housing demand moving forward,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron.

GTA REALTORS® reported 3,100 sales through TRREB’s MLS® System in January 2023 – in line with the December 2022 result of 3,110, but down 44.6 per cent from January 2022. The average selling price for January 2023 at $1,038,668 was slightly lower than the December 2022 result and down by 16.4 per cent compared to the January 2022 average price reported before the onset of Bank of Canada interest rate hikes. The MLS® Home Price Index (HPI) Composite Benchmark was in line with the December result, but down by 14.2 per cent compared to January 2022.

“Home prices declined over the past year as homebuyers sought to mitigate the impact of substantially higher borrowing costs. While short-term borrowing costs increased again in January, negotiated medium-term mortgage rates, like the five-year fixed rate, have actually started to trend lower compared to the end of last year. The expectation is that this trend will continue, further helping with affordability as we move through 2023,” said TRREB Chief Market Analyst Jason Mercer.

“All three levels of government have announced policies to enhance housing affordability over the long term, including many initiatives focussed on increasing housing supply in the ownership and rental markets. Most recently, we were encouraged to see Toronto City Council support the Mayor’s 2023 Housing Action Plan as part of the City’s overall $2 billion commitment to housing initiatives,” said TRREB CEO John DiMichele.

FULL REPORT HERE

Year: 2023

UPGRADING SELLERS IN MISSISSAUGA

Real Estate Investors in Mississauga

MISSISSAUGA REAL ESTATE MARKET OVERVIEW

Investment Opportunities for First-Time Homebuyers

UNDERSTANDING THE MARKET CONDITIONS

Tips for Selling home in Greater Toronto,Mississauga after interest increase effects in 2023.