Author: homegoal.ca
As 2024 comes to an end (sorry, not sorry), there’s a LOT to look forward to in Toronto real estate. Here’s a recap of the most important real estate news this month: Another Interest Rate Decrease The Bank of Canada delivered it’s fifth straight interest rate cut on December 11, 2024, and the second 0.5% decrease in as many months. After being stuck at 5% for nearly a year, the current overnight rate of 3.25% will be welcomed by variable-rate mortgage holders and those looking to buy a property in early 2025. In real numbers: A 1.75% decrease in interest…
While most house hunters hibernate during the winter months, smart buyers know that the coldest months usually offer the best opportunities in Toronto’s real estate market. Here’s what you need to know about house hunting when the temperature drops. Why Winter House Hunting Makes Sense (especially in 2025) Opportunity: Lower Prices in an Increasing Market Toronto’s housing market has a timing challenge: eager buyers are typically ready before sellers, who often delay listing their homes until warmer weather arrives. This imbalance is one of the reasons prices tend to rise fastest in the first months of the year – low…
If you own an investment condo in Toronto, 2025 presents some unique challenges and opportunities. With changing market conditions, economic and political uncertainties and evolving rental dynamics, you’re probably wondering: Should I sell my investment condo in 2025? Here’s our comprehensive analysis of what to consider. Market Realities in 2025 Condo prices have softened in many Toronto neighborhoods Rental rates remain strong but are showing signs of stabilization Interest rates, while on a downward trajectory, are significantly higher than when many investors purchased. Property tax and maintenance fee increases are outpacing inflation There’s a lot of political and economic uncertainty…
While conventional wisdom suggests waiting for spring flowers to list your home, savvy Toronto sellers know that winter can offer unique advantages in the real estate market. Here’s why listing your home during the colder months might be your smartest move and how to do it right. The Winter Selling Advantage Serious Buyers Only, Please Winter buyers are typically more motivated. They’re house hunting in snow and sleet for a reason – usually a genuine need to move rather than casual curiosity. While it might be fun to brag to your friends about having had 100 showings on your home,…
Canada is scaling back its immigration mandate and notifying public servants of significant layoffs. Staff at the Immigration, Refugees and Citizenship Canada (IRCC) just received an email from the Government of Canada (GoC) warning of layoffs as early as next month. The cuts will amount to roughly the equivalent of 1 in 4 roles at the IRCC, which oversees Canada’s immigration program. The decision will make the country more dependent on outsourcing, as it has a backlog of millions to process and has struggled with resources to screen applications adequately. Like all things, this is about real estate. Canada’s Immigration…
The real estate industry, long known for its reliance on human expertise and traditional methods, is experiencing a seismic shift thanks to artificial intelligence. By 2026, AI is expected to completely transform how property is bought, sold, and managed, enhancing efficiency, reducing costs, and improving customer service. From property valuation and virtual tours to smart contracts and predictive analytics, AI’s role in real estate is already expanding in ways that were once considered science fiction. Here we’ll explore the profound impact AI will have on the real estate industry in 2025. Jump Ahead The Rise of AI-Powered Property Valuations Property…
Whether you are in the early stages of building your real estate practice or approaching retirement, establishing a succession plan is essential to securing your future. As you grow your business, expand your client database, generate referrals or establish a team, it’s important to consider how these elements contribute to creating a valuable, salable asset that can support your retirement plans. Why succession planning matters for real estate team leaders For team leaders planning for retirement, a solid succession plan is a crucial component to protecting your legacy. When executed correctly, your business becomes a valuable asset that…
Real estate investors are looking forward to an exclusive event on February 2nd. This upcoming free real estate investment lunch and learn will provide insights for investors with up-to-date, actionable insights into wealth-building through real estate and critical investment tools, delivered by key players in the Canadian real estate industry. This is the first of the 2025 Investor Series events being offered by Canadian Real Estate Wealth / Playbook Media exclusively to their readers and subscribers. These Investor’s Series events connect real estate experts with the community to provide valuable education and share proven strategies for success. Each event also…
Canada’s government unveiled its latest magic trick—slowing inflation despite a weakening loonie and a trade partner that’s experiencing an acceleration. Statistics Canada (Stat Can) data shows policymakers made the growth of the consumer price index (CPI) disappear in December. A dive into the numbers reveals it was just an optical illusion—the GST/HST holiday temporarily offset the rising costs the rest of the world is facing. The temporary reduction will be seen in reduced CPI through February, with headline growth set to return with a vengeance by March. Canadian Headline Inflation Decelerated, Core Didn’t Budge Canadian households received some temporary relief…
As 2025 begins with average mortgage rates exceeding 7%, American households are increasingly concerned about housing affordability. A recent Pew Research survey found that 69% of Americans expressed a high degree of concern over the cost of housing, up from 61% in 2023. At the same time, concerns over food prices and consumer goods have stayed relatively the same. With rising borrowing costs and tightening budgets, many families are now spending over 30% of their household income on housing expenses, particularly in high-cost states. This puts many families in a tough financial position, requiring them to allocate more of their…