Income needed to buy a home falls nationwide in January. Great News on the Inflation Front. Interest Rates Got You Down?

CURRENT INTEREST RATES Double Chocolate Peanut Butter Pie! IN CASE YOU MISSED IT...MORE REAL ESTATE NEWS Financial Post - Housing minister says interest rate cuts will spur building boom Canada’s housing minister says he believes lower interest rates will encourage builders to ramp up their activity, alleviating the country’s crunched supply of homes. CBC News - January home sales jump 22 per cent from last year's weak start January home sales jumped 22 per cent compared with a year ago, the largest year-over-year increase since May 2021, according to The Canadian Real Estate Association. The association says the increase reflected weakness last year, which saw the worst start to almost any year in the past two decades. Global News – Canada’s housing market is ‘starting to turn a corner.’ Are prices rising? Financial Post – Condo market faces 'significant slowdown' Globe and Mail – Forget downsizing: Canadian seniors staying in large houses well into their 80s, due in part to lack of options Globe and Mail – What does restoring affordable home ownership actually mean? One economist crunches the numbers Globe and Mail – January home sales in Canada rise as markets tighten but prices still softening: CREA CBC News - Home builders group calls for action on mortgage rules, labour shortage Canada is on the right track but won't reach its target of building 5.8 million new homes in the coming decade unless it loosens mortgage rules, addresses the labour shortage and helps to boost production of factory-built homes, says the Canadian Home Builders' Association (CHBA). Bank of Canada says housing affordability is about boosting supply, not lowering interest rates (CBC News) Housing affordability won’t return to pre-pandemic levels in the next two years: Desjardins (Yahoo! Finance) Real estate commission lawsuit expands across Canada (BNN Bloomberg) What to know if you're considering buying a house with friends (CTV News) High cost of living forces majority of Ontarians to put necessities before retirement savings (Toronto Star) Canada’s largest cities saw home sales surge in January (Canadian Mortgage Trends) Too soon to say when interest rates can come down: Bank of Canada (Canadian Mortgage Trends) Is it cheaper to rent or buy a house with a monthly mortgage in Canada? Prices analyzed in 26 markets (CTV News) Canada’s rental market faces historic challenges of record-low vacancy rates and soaring prices: CMHC (Real Estate Magazine) What history can tell us about soft landings and the pace of rate cuts that usually follow (Canadian Mortgage Trends) Canadians eager for homeownership, but down payments present another hurdle: report (BNN Bloomberg) How we measure housing costs helps explain inflation's stubbornness (Yahoo! Finance) Canada real estate: Income needed to buy a home falls nationwide in January (Yahoo! Finance) Economists say mortgage costs keep inflation high. So why is the Bank of Canada not cutting interest rates? (Toronto Star) What kind of home will $1 million buy in Toronto? More than you’ll get in Vancouver, new report finds (Toronto Star) Unexpected inflation drop won’t hasten Bank of Canada’s rate cut plans, economists say (Canadian Mortgage Trends) What the latest inflation data suggests about Canada's housing market (CTV News) Renting? You probably report lower quality of life than homeowners (CBC News) Great News On The Inflation Front Cause Big Bond Rally @DLCCanadaInc Chief Economist @DrSherryCooper  Vancouver and Toronto renters lament quality of life more than homeowners: StatCan (Canadian Mortgage Trends) CMHC reports annual pace of housing starts in January down 10% from December (Canadian Mortgage Trends) Rent-to-own, tax cuts take centre stage in BC United housing plan (Global News) Canada’s housing rebound continued in January. What should buyers expect this spring? (Canadian Mortgage Trends) Canada’s average rent price hit a new record of nearly $2,200 in January (Canadian Mortgage Trends) Can first-time buyers save Canada’s real estate market? (Real Estate Magazine) Latest in mortgage news: 50% of Canadians say high interest rates are negatively impacting their love life (Canadian Mortgage Trends) National Post – Federal government extends foreign buyer ban on Canadian homes to 2027 CBC News – Government extends ban on foreign buying of Canadian housing CBC News – Bank of Canada says housing affordability is about boosting supply, not lowering interest rates Financial Post – Canada is underestimating the number of new homes needed — by a lot, says CIBC Financial Post – Buyer's remorse? Homeowners in these cities are counting their losses Some B.C. homeowners faced big losses in 2023: report (City News) Victoria Times Colonist - All oil and natural gas permits in B.C. waters relinquished, energy minister says Trudeau announces $2B to support B.C. housing projects (CBC News) Liberals to give low-cost loans for new B.C. rental housing program (Global News) B.C. United's housing plan includes rent-to-own initiative (CBC News) Victoria Times Colonist - Affordable rental townhouse project near UVic draws unanimous support Victoria Times Colonist - Capital Regional District plan to borrow up to $85M for housing approved BC Real Estate Association numbers point to market 'uptrend' at beginning of 2024 (CTV News) B.C.’s new $2.9B middle-income housing program to build 4,000 new homes (City News) Victoria Times Colonist - B.C. eyes community, non-profit, underused lands to build affordable rental units   VICTORIA & VANCOUVER ISLAND HOME SEARCH   Diana Winger Personal Real Estate Corporation eXp Realty | CNE, SRS, SRES, ABRMortgage Agent Level 1 Valko Financial LTD #13047Dominion Lending Centres HomeVictoria.com | Housesforsale369.com WingerRealEstate.ca | SearchBestMortgages.com(250) 588-8839  (226) 705-3369ON YOUR TEAM!   Share Tweet Forward

MORE

Home Prices Down. Landlord Tenant Registry in Ontario now Up. Two Year Extension on Foreign Buyer Ban. 85 Offers On One Home… AGAIN !? Interest Rate Decrease & More.

Unlocking Your Dream Home: A Comprehensive Guide to Pre-Construction and New Homes for Sale CURRENT INTEREST RATES You may be eligible for the New to Canada program that can assist with the purchase of a home with just 5% down on homes under $500,000. IN CASE YOU MISSED IT...MORE REAL ESTATE NEWS CP24 - Mississauga house sells for just under $1M after 85 offers The Housing and Mortgage Market Review: January 2024ANALYSIS OF ONTARIO’S EFFORTS TO BOOST HOUSING SUPPLY Landlord Tenant Registry in Ontario The Expositor - City, county making progress on affordable housing: Mayor Davis The Expositor - City of Brantford offers plenty of fun over Family Day weekend The Expositor - Brantford area home prices down at start of new sales year The Expositor - 2023 was Brant County's third biggest construction year The Expositor - Committee recommends 5.8% tax increase for Brantford homeowners The Expositor - City setting aside funds for new Brantford hospital CBC News – Celebrity contractor Mike Holmes 'approved' this development. Now some of its homes have been demolished Toronto Star – A record high number of new condos are going unsold in the GTA Canadian Mortgage Professional – Toronto mayor's executive committee approves new foreign buyer tax Toronto home sales off to hot start to 2024, but prices slip for eighth month in a row (Yahoo! Finance) Leon's Furniture plans to unlock 'massive' real estate value by building 4,000 homes in Toronto (Yahoo! Finance) Federal government extends foreign buyer ban until 2027 (Canadian Mortgage Trends) Fixed mortgage rates in Canada resume decline amid economic volatility (Canadian Mortgage Trends) CBC News - Ottawa says it will have news soon on the future of the Greener Homes grant Bloomberg – Homebuyers in Canada are so frenzied that they won’t wait for rates to go down Financial Post – Housing prices rose the most in these 5 spots in Canada in 2023 Toronto Star – Buyers at the gate: House prices are expected to rise this year. Will buyers flood in when the rate cuts come? Storeys – ‘Buyers aren’t rushing’: Luxury home sales slip in Toronto, Montreal, surge in Vancouver, Calgary Canadian Mortgage Professional – How concerned is the Bank of Canada about the mortgage market? Mortgage rates drop for the second time in 2024 (Yahoo!Finance) Is it time to refinance your mortgage? 5 ways to prepare. (Yahoo!Finance) Canada is building a lot of housing. It’s still not enough (The Globe and Mail) Market participants still expect the first Bank of Canada rate cut in April (Canadian Market Trends) Rent prices rose in 2023 as Canada saw lowest vacancy rate since 1988: CMHC (Canadian Mortgage Trends) Borrowed money led to a boom in pre-construction sales. It could become a problem (CTV News) Canadian home builders call for policy reforms amid rising interest rates and construction costs: CHBA (Real Estate Magazine) Financial freedom for Canadians 55+: HomeEquity Bank boosts CHIP Reverse Mortgage support for the broker channel (Canadian Mortgage Trends) Property taxes in major Canadian markets: Changes over the past decade and where they’re at now (Real Estate Magazine) Canada to offer universities, colleges low-cost loans to build new student housing (CTV News) Mike ’Holmes Approved Homes’ demolished due to alleged defects (RCI Canadian News)   Diana Winger, REALTOR® CNE, SRS, SRES, ABR Mortgage Agent, Level 1 Valko Financial LTD #13047 eXp Realty | Dominion Lending Centres |  226-705-3369 | 250-588-8839 ON YOUR TEAM! WingerRealEstate.com Housesforsale365.com   |   SearchBestMortgages.com  

MORE

Working with a real estate agent: Things you need

When it comes to buying or selling a property, working with a real estate agent is a smart decision. These professionals have the knowledge, experience, and network to make the process smoother and more efficient. Whether you are a buyer or a seller, there are certain things you need to know about working with a real estate agent in Brantford, Hamilton, Cambridge, Ancaster, Waterloo, Kitchener, or Guelph. or surrounding areas. For buyers, a real estate agent can be your guide through the entire process, ensuring you find the right property that meets your needs and budget. They have access to a wide range of properties and can help you narrow down your search. Additionally, they can provide valuable insights about the neighborhoods, market trends, and property values. With their negotiation skills, they can help you secure the best deal possible. On the other hand, sellers can benefit from the expertise of a real estate agent in marketing their property effectively. They know how to highlight the best features of your home and attract potential buyers. By setting the right price and staging the property, they can maximize its appeal and increase the chances of a quick sale. Real estate agents also handle all the paperwork, negotiations, and legalities, saving you time and effort. Staying updated with real estate news is crucial for both buyers and sellers. Real estate agents have access to the latest market trends, upcoming developments, and changes in regulations. They can provide valuable insights and advice based on this information. Whether it is the best time to buy or sell, or the current mortgage rates, having a real estate agent on your side can help you make informed decisions. If you are considering working with a real estate agent in Brantford, Hamilton, Cambridge, Ancaster, Waterloo, Kitchener, or Guelph or surrounding areas, it is important to choose a registered agent. The Real Estate Council of Ontario (RECO) regulates agents to ensure consumer protection and professionalism. You can find an extensive information guide on the RECO website, which provides valuable resources and tips for buyers and sellers. In conclusion, working with a real estate agent can make a significant difference in your buying or selling experience. They have the knowledge, experience, and network to help you navigate the real estate market efficiently. Whether you are a buyer or a seller, it is important to stay informed about real estate news and choose a registered agent who is recognized by RECO. So, take advantage of their expertise and make your real estate journey a smooth one. Click on the image below to download the guide.

MORE