Tag: Etobicoke Realtor
01.31.2022
Income Properties
Market UpdatesIncome properties continue to be popular and it looks like investors will take very low cap rates.
Looking at the price of real estate in Toronto it’s no wonder that investors are looking at any way possible to own it and have someone else pay part of the carrying costs.
From a return on investment perspective it appears that the numbers don’t make that much sense but the real estate/land itself is escalating quickly. It looks like rents, which were somewhat flat during the pandemic are on the rebound. This makes owning an income property somewhat high demand and prices are up. Good income properties in central neighbourhoods are hard to find. There are very few that go to market.
01.24.2022
Lack of Inventory
Market Updates01.18.2022
Development Policies
Market Updates12.20.2021
Real Estate in 2021 & What to Expect in 2022
Market UpdatesMany of our clients have asked us what to expect in 2022. The world has experienced so much uncertainty in the past couple years and yet real estate remained one of the most certain things that people had. Home ownership was security in an uncertain world. In 2021 we saw a big surge in demand and prices in real estate throughout Canada. Needs of people changed and we saw a lot of movement. Towards the end of 2021 product dried up but demand didn’t, hence prices spiked up. We saw a big increase in demand and prices in the luxury market as those who often spent a lot of time travelling opted to stay home.
Here we are going into 2022. A couple of weeks ago we thought that we saw the worst of the pandemic behind us. How quickly things can change in such a short period of time. Before the appearance of Omicron, 2022 was looking like more of the the same in real estate with low supply and high demand. Interest rate hikes were looming due to inflation and there was some question how this would affect real estate. And now – who knows. We have stopped forecasting and are dealing with day to day. We are not seeing a change in demand – in fact demand may even increase. We may just have another very busy year. Unpredictable at this point…
12.06.2021
Young Buyers
Buying11.15.2021
High Demand + Low Supply
Market UpdatesHigher interest rates and inflation are in the forecast. Everyone is asking how this will impact the real estate market. The answer is we have no idea. Yes higher interest rates and living costs should impact affordability but with such high demand and low supply of housing we are not sure how it will all go. We are not really seeing supply go up substantially and we aren’t seeing demand subside. Increasing supply of housing is not an easy fix as much as government would like to make it so. Perhaps solutions need to be more creative and out of the box.
11.08.2021
Job Transfers
Market UpdatesToronto is starting to see job transfers coming in from other countries. As the world opens up we are starting to see people moving to Toronto for work. Toronto is now international hub for many industries. Its also a relatively easy city to live in with so much to offer. With the influx of immigration how will we handle our lack of housing. The rental market and the resale market are already so tight with supply. Where will everyone live? The government appears to be trying to create more supply but they are not making it easy for landlords or developers wanting to build. Perhaps some new solutions need to be looked at.
11.01.2021
Feels Like A Transition Phase
Market UpdatesBuyers still looking for space and not enough people want to sell. It feels like we are in a Covid transition phase – the world is slowly opening up but most don’t feel like the world is back to usual. And perhaps the new usual is different. Work from home and hesitation to travel continue to spur the demand for more space. Hence homes with home offices and enough rooms for everyone in the family to escape to are in high demand. We just don’t have enough listings for everyone. Bidding wars for homes continue, Real estate looks to be a good investment. Prices have never been higher.
10.18.2021
Quick Decisions
Market UpdatesBuyers need to be well prepared when buying in todays market. Buyers need to have their ducks lined up in order to buy a house in todays hot market. When a well priced house comes on the market one has little or no time to think. Well prepared buyers have firm offers coming in quickly – sometimes within hours of coming to market. Hence if one wants to buy, market knowledge and financing have to be in place. The ability to make a quick decision is critical. This is true for houses of all price points and for many condos. Market is hot hot hot…
09.27.2021