Author: homegoal.ca
The housing industry knows this story all too well: prices are soaring and demand (until recently) has been relentless yet projects are stalling. The blame often falls on high land values or developer greed, but the real culprit is clear to anyone in the sector—it’s the staggering cost of delivering new homes. The numbers are sobering. The Canada Mortgage and Housing Corporation (CMHC) says that we need to build 5.8 million new homes by 2030 to restore affordability to 2004 levels. If successful, that would mean that a newly built 1,000-square-foot, two-bedroom condo in downtown Vancouver would sell for $620,000…
With approximately 55,000 divorces occurring annually, countless couples face the daunting task of dividing assets, especially the matrimonial home. Divorce is a significant life event, and while it’s never an easy journey, it’s one that requires careful planning, especially when it comes to real estate. For many couples, the family home represents more than just a roof over their heads—it’s a symbol of stability and emotional attachment. But when separation occurs, big questions arise: “What happens to the house?” and “How do we make the best financial decision for our futures?” There are a few key approaches for handling real…
On Wednesday, Toronto-based Primaris REIT (TSX: PMZ.UN) announced $585 million in transactions pertaining to the Southgate Centre mall in Alberta and the Oshawa Centre mall in Ontario, in an early contender for the largest transaction of the year. Primaris REIT is acquiring a 50% interest in Southgate Centre and a 100% interest in Oshawa Centre for an aggregate price of $585 million that consists of $335 million in cash, $75 million of series A units of the REIT (at $21.82 per unit), and $175 million in exchangeable preferred units in a newly formed subsidiary limited partnership.The transaction, with CBRE and…
Canada’s economy is slowing down but that’s not deterring households from borrowing. Statistics Canada (Stat Can) data shows growth of household debt accelerated in November. The move was led by higher demand for mortgage credit which has accelerated over the past year, but still remains below historic levels. Canadian Household Debt Tops $3.02 Trillion Canadian household debt continues to print records while showing signs of acceleration. The outstanding balance climbed 0.4% (+$13.0 billion) to $3.03 trillion in November. Annualized growth came in 3.9% (+$113.3 billion) higher than last year, hitting the highest level since May 2023. Household borrowing is picking…
If you’re in a fast-paced real estate market, it’s common for buyers to face multiple offers on a property. Whether you’re a first-time homebuyer or a seasoned investor, the experience can be both exciting and overwhelming. The good news is that understanding how to handle multiple offers can help you make the best decision and secure the home of your dreams, without feeling rushed or pressured. In this blog post, we’ll dive deep into the strategies and considerations that can guide you through navigating multiple offers as a buyer. Understand Market Conditions Before jumping into any negotiations, understanding your area’s…
More Ontario Realtors now have access to more data as the PropTx MLS database expands to include listings from most boards in the province. PropTx, a wholly-owned and for-profit subsidiary of the Toronto Regional Real Estate Board (TRREB), promises members access to a centralized MLS, a long-standing priority among Realtors, according to TRREB CEO John DiMichele. “This has been a strategic focus, and through the creation of PropTx, was a key mandate for the organization,” says DiMichele. “The participating boards and associations were essential collaborators, recognizing that working together benefits all Realtors. A unified MLS database ensures consistency and continuity…
Finding reliable tenants for your rental property can make or break your success as a landlord. A thorough background check helps you make informed decisions and protects your investment from potential issues down the road. Tenant screening goes beyond just checking credit scores and employment history. You’ll need to understand the legal requirements, gather the right documentation, and use trusted screening services to evaluate potential renters effectively. By following proper background check procedures, you can identify red flags early and choose tenants who’ll pay rent on time and take good care of your property. What Is a Tenant Background Check?…
Being a renter in the current housing market can be daunting in its own right. Would-be tenants are faced with a series of challenges before locking in a favorable rental agreement that meets the demands and requirements of landlords and property management agencies. Prospective rental property owners and existing landlords are facing similar, if not more demanding, challenges as market conditions continue to change and the process of maintaining a rental property becomes harder and more complicated due to rule changes and new regulations. As a rental owner or landlord, choosing a property manager or management company could bring new…
We thought we’d seen it all as a seasoned Toronto real estate team with over $1 billion in sales. But fall 2024? It’s shaping up to be one of the most unique yet. If you plan to sell your home this fall or in winter 2025, buckle up – we’re about to spill some important secrets that could make or break your sale. Set Realistic Expectations Let’s have a frank conversation about timelines. Average Days on Market (DOM): In September 2024, it took, on average, 43 days to sell a home in the GTA. DOM varies by neighbourhood and type…
With interest rates on a downward trajectory and Toronto’s real estate market heating up, we’ve been talking to a lot of home sellers. If you’re planning to list your home for sale in the winter or spring of 2025, here are 10 things you can do now to be ready: Pick Your Agent: It’s never too early to hire a REALTOR and benefit from setting your selling strategy together. Ask your family and friends for agent recommendations and read online reviews on Google and Yelp. Pick an agent who offers the services you need – many of Toronto’s best teams…