GTA Market Stats Highlights The October numbers are a continuation of the August and September numbers. The biggest drop has already happened. Even with the rate hike in September and October, the market didn’t stray from the trend we have seen in the past few months. Sales are down 49.1%, and new listings are down 11.6% down year-over-year. That’s the …
Why Many Families Call Mississauga Home!
Fun facts about me: I was born in Scarborough and moved to Mississauga when I was five years old, lived and grew up around the Streetsville area, and currently I live in the Square One area with my wife Claire and our cat Alba. So I too live, work and play in Mississauga! History of Mississauga Mississauga is Canada’s 7th …
Top 5 Neighbourhoods for Families in Mississauga
Mississauga has been ranked as the safest city in Canada for many years. The city has many amenities for all its residents. There are 11 Community Centres located throughout the city, along with city-run facilities such as arenas, swimming pools, fitness centres, golf courses, tennis courts, baseball diamonds, soccer pitches and much much more. Mississauga has over 500 parks and …
New Listings at 20 Year Low! | September 2022 Market Update
September is the start of the fall market. With our 5th interest rate increase in 2022 on Sept 7, the market numbers are out! Sales are down almost 46% from last year, and average prices are down 0.5% in Mississauga. We may see more interest rate increases in October and maybe December. Inflation looks to be heading in the right …
How To Make $300k in a Down Market | Real Estate Investing in GTA
Home prices have dropped by $400k since February and here’s why you should upsize now. If you’re trying to time the market, how do you know when you should jump in? Interest rates have been going up and are expected to continue to go up some more. Prices have been dropping and are expected to continue to cool down some …
What happen when my mortgage hits trigger rate?
What is Mortgage trigger rate? A trigger rate is when your interest portion exceeds your mortgage payment. It only applies to variable-rate mortgage holders that are on a fixed payment schedule. Calculate your trigger rate is to use the following formula: (Payment amount X # of Payments per year / Balance owing) X 100 = Trigger rate in per cent. …
My First Time Home Buying Experience – Losing 100K within weeks of getting the keys!
After I bought my first house at the peak in 2017, I watched the price drop by $100k within weeks of getting the keys. Buying real estate can be a stressful time, it’s a lot of money, a huge investment, if you’re like me, all of your life savings. The market can change on a dime and that can cause …
Bottom of The Market, Interest Rate Hike, Trigger Rates | August 2022 Market Update
Are We At The Bottom of The Market? The GTA Real estate market has had quite the ride in 2022. From historically low interest rates that caused an ultra hot seller’s market, and the 4 interest rate hikes since March and now a 5th, 0.75% increase, have really raised the cost of borrowing to the point of bringing the real …
How Is Foreign Buyer Ban Going To Impact The Market? (Ban effective Jan 1, 2023)
Last updated on March 28, 2023 The Parliament of Canada passed legislation – the Prohibition on the Purchase of Residential Property by Non-Canadians Act on June 23, 2022. This law prevents non-Canadians from buying residential property in Canada for 2 years starting on January 1, 2023. The Prohibition on the Purchase of Residential Property by Non-Canadians Act applies to direct …
Canada Banning Blind Bidding: Good or Bad? (Include Personal Experience with Australian Home Auction!)
Is our blind bidding system the reason why housing prices have gotten out of control? Would you prefer an open auction system to buy and sell real estate? Canada currently has a blind bidding format when it comes to offers. Only the seller can see what offers look like. In multiple offer situations, buyers don’t know what other offers are, …