March 5, 2021

Valenzuela Post

Global Business, Financial News & Trends

Real estate news

Real estate news

  • Low interest rates, favourable exchange turn U.S. into hotspot
    on March 5, 2021 at 9:39 am

    Canadian real estate investors are headed to U.S. hotspots, like Florida, that offer great returns and affordable prices.

  • Toronto’s condo market has officially rebounded
    on March 5, 2021 at 9:39 am

    Condominium sales in the City of Toronto surged by 63.2% year-over-year in February to 2,167, according to the latest data from the Toronto Regional Real Estate Board.

  • Upgraded building infrastructure slashes maintenance fees
    on March 5, 2021 at 9:39 am

    Maintenance fees rise for reasons ranging from property taxes to a condominium’s location, but older building infrastructure is also a major contributor to escalating costs.

  • Despite pandemic, Canadians spending extravagantly on homes
    on March 5, 2021 at 9:39 am

    “Buying activity for higher-end homes has picked up from where it was a year ago, and now it’s working its way right down the scale," says mortgage broker Robert Mogensen.

  • Western Canadian commercial markets slated for strong 2021
    on March 5, 2021 at 9:39 am

    A report from RE/MAX and CBRE noted that institutional investors and private equity were present in nearly every market last year in Western Canada.

  • Millennials, armed with savings, are buying homes in droves
    on March 5, 2021 at 9:39 am

    Millennials are benefiting from a confluence of factors, like low rates and minimal competition in the starter home segment, that have made homeownership less prohibitive.

  • Tight market supply for Metro Winnipeg continues into 2021
    on March 5, 2021 at 9:39 am

    The average price of a detached home in the Winnipeg region was $352,185 last month, while the average attached home was $277,109, and condominiums were $224,338.

  • Millions in delayed closing compensation left unclaimed
    on March 5, 2021 at 9:39 am

    This consultant and real estate investor said that a third of new construction properties built every year in Ontario have legitimate claims for reimbursement, but they aren't taken advantage of.

  • Post-COVID return to the office depends on where you live
    on March 5, 2021 at 9:39 am

    Even before COVID-19 moved us all to work from home, reevaluations of office space were already underway, but not nearly to the extent they are now.

  • Fixed-rate mortgages have gone up, but it doesn’t matter
    on March 5, 2021 at 9:39 am

    News of a fixed rate increase might inspire consumers driven by fear of being priced out of the market in Canada.

  • How to get listings in this super hot market
    on March 5, 2021 at 9:39 am

    Craig Proctor, top Canadian real estate agent and coach, offers advice on how to dominate during these crazy real estate times. Join his Millionaire Agent-Maker SuperConference March 19-21.

  • Knowledge, experience propel Sunny Sharma Commercial Team to new heights
    on March 5, 2021 at 9:39 am

    In 2020 alone, this commercial real estate team did over $60 million in commercial sales in Toronto.

  • Robust fundamentals driving Texas’s multi-family sector
    on March 5, 2021 at 9:39 am

    According to GTA-based Seth Ferguson, CEO of Multifamily Real Estate Investments Inc., Texas has arguably the most propitious horizon in the Sun Belt.

  • Canadian Real Estate May Get Cooling Measures As Early As This Month: Scotiabank
    by Daniel Wong on March 5, 2021 at 2:31 am

    One of Canada’s big banks expects cooling measures for real estate soon. Derek Holt, Scotiabank’s Head of Capital Markets Economics, sees the Spring Budget including cooling measures for real estate. In a note penned to investors, the economist highlights how policy has been overly loose. He feels the next budget likely includes measures to cool The post Canadian Real Estate May Get Cooling Measures As Early As This Month: Scotiabank appeared first on Better Dwelling.

  • Canadians Now Pump More Into Residential Real Estate Than Business Development
    by Daniel Wong on March 4, 2021 at 11:01 pm

    Canada’s economy is so dependent on housing, more money is now invested in homes than businesses development. Statistics Canada (Stat Can) data shows investment in non-residential structures, machinery and equipment is down sharply in Q4 2020. The issue isn’t a lack of investment dollars though. Money is just being pumped into residential real estate. In The post Canadians Now Pump More Into Residential Real Estate Than Business Development appeared first on Better Dwelling.

  • Bidding Wars For Canadian Real Estate Are A Drain On The Economy, Here’s Why
    by Daniel Foch on March 4, 2021 at 3:01 pm

    At the risk of sounding melodramatic, I honestly believe that bidding wars are among the greatest economic inefficiencies ever produced by the real estate market. In 2017, we saw a pretty wild market, with real-time price discovery being the greatest challenge of buyers, sellers, and realtors alike. As a result, we saw the arbitrary underpricing The post Bidding Wars For Canadian Real Estate Are A Drain On The Economy, Here’s Why appeared first on Better Dwelling.

  • iBuying Giant Pairs Buyers With Agents to Submit Cash Offers
    on March 4, 2021 at 6:00 am

    Opendoor announced it will back buyers’ offers with cash to improve their chances in a bidding war, promising the seller the company will buy the home if the buyer is unable to get financing.

  • 3 Telltale Signs of an Amateur Paint Job
    on March 4, 2021 at 6:00 am

    Painting is one of the easiest DIY home improvements, with some of the best results, but there are techniques for doing it right. 

  • Buyers May Want to Ask Lenders: How Long to Close?
    on March 4, 2021 at 6:00 am

    The average mortgage loan process takes about 30 days from underwriting to closing. But many lenders are pushing out the timetable because of the deluge of applications.

  • Report: 50% Fewer Homes for Sale This Year
    on March 4, 2021 at 6:00 am

    The housing market is inventory-starved heading into spring, and buyers should brace for fierce competition.

  • 20 Counties With the Highest Share of First-Time Buyers
    on March 4, 2021 at 6:00 am

    In one metro area, first-time buyer purchases reached 71% of total sales.

  • Canadian Non-Bank Lender Data Shows Insured Mortgages Defaulting At A Higher Rate
    by Stephen Punwasi on March 4, 2021 at 3:45 am

    Canada’s mortgage lenders have seen the arrears rate fall down to pre-pandemic levels. The composition of that rate is now totally different though. Statistics Canada (Stat Can) data shows us the number of mortgages in arrears over 90 days at non-bank lenders for Q3 2020. The rate of arrears is now back to where it The post Canadian Non-Bank Lender Data Shows Insured Mortgages Defaulting At A Higher Rate appeared first on Better Dwelling.

  • RBC Leaves A Laundry List of Reasons Canadian Real Estate Is “Far From Risk-Free”
    by Stephen Punwasi on March 3, 2021 at 11:39 pm

    Canada’s largest bank sees a lot of risk in real estate, just not where other people may see it. RBC Senior Economist Robert Hogue published a list of risks that may impact real estate markets near-term. The bank feels government aid kept prices moving higher, but the market is “far from risk free.” Here’s some The post RBC Leaves A Laundry List of Reasons Canadian Real Estate Is “Far From Risk-Free” appeared first on Better Dwelling.

  • Toronto Real Estate Prices Rip Higher, With Detached Homes Rising $62,000 Last Month
    by Kaitlin Last on March 3, 2021 at 5:37 pm

    For Greater Toronto real estate, detached homes are living in 2017, while condos are stuck in 2009. Toronto Regional Real Estate Board (TRREB) data shows home prices increased in February. When looked at in aggregate, the whole market is on fire. Breaking it down, there’s two distinct markets. Detached homes are adding multiple years of The post Toronto Real Estate Prices Rip Higher, With Detached Homes Rising $62,000 Last Month appeared first on Better Dwelling.

  • Drive-Thru Lanes Add Value
    on March 3, 2021 at 6:00 am

    Commercial properties with a drive-up window can fetch 10% to 20% higher rent compared to those without.

  • Buyers Are Increasingly Shopping for Multigen Homes
    on March 3, 2021 at 6:00 am

    Aging parents and young adults are moving in and prompting home searches for larger homes to accommodate more family members under one roof.

  • Are You Strong Enough? Yes, You Are!
    on March 3, 2021 at 6:00 am

    Chicago Association of REALTORS® launches a webinar series celebrating Women’s History Month with a bold program that takes on the pain of change.

  • Melting Snow Poses Flood Risks in Homes
    on March 3, 2021 at 6:00 am

    The giant snow melt is on around the country. Here's how to prevent costly damage to basements and other parts of a home.

  • Real Estate Pros to Homeowners: Don't Wait to Sell
    on March 3, 2021 at 6:00 am

    “A lot of people are missing the best market now by waiting,” says one real estate professional.

  • Vancouver Real Estate Prices Rip Higher, As Detached Homes Rise $44,000 Last Month
    by Kaitlin Last on March 3, 2021 at 12:46 am

    Greater Vancouver suddenly has exuberant homebuyers once again, armed with cheap debt. Real Estate Board of Greater Vancouver (REBGV) data shows composite prices made a big jump in February. Actually, almost all measures of home prices made a big leap. Some segments even added more than $44,000 to the value just last month. Let’s dive The post Vancouver Real Estate Prices Rip Higher, As Detached Homes Rise $44,000 Last Month appeared first on Better Dwelling.

  • CIBC’s Uninsured Mortgage Delinquency Rate Is Flat, But Toronto Is An Exception
    by Daniel Wong on March 2, 2021 at 9:01 pm

    Quarterly filings from one of Canada’s largest banks shows unusual weakness in Toronto. CIBC data shows their uninsured mortgage delinquency rate generally fell in Q1 2021. One notable exception is Greater Toronto, which is seeing the rate climb. A rise in the delinquency rate is unexpected for a market with high sale volumes and low The post CIBC’s Uninsured Mortgage Delinquency Rate Is Flat, But Toronto Is An Exception appeared first on Better Dwelling.

  • This family just downsized from a 2,600-square-foot Markham home to a 1,350-square-foot North York...
    by Mathew Silver on March 2, 2021 at 8:51 pm

    The Wiitasalos were bored of living Markham. They figured it was the right time to move to the city The post This family just downsized from a 2,600-square-foot Markham home to a 1,350-square-foot North York condo appeared first on Toronto Life.

  • Canada’s Over 30% More Dependent On Real Estate Than The US In 2006, Shows GDP
    by Stephen Punwasi on March 2, 2021 at 5:41 pm

    Most didn’t think it was possible, but this morning’s numbers show Canada is now more dependent on real estate. Statistics Canada (Stat Can) GDP data shows residential investment made a big climb in Q4 2020. The segment of investment has grown much faster than total GDP over the past few years. Canada is now almost The post Canada’s Over 30% More Dependent On Real Estate Than The US In 2006, Shows GDP appeared first on Better Dwelling.