December Numbers are In. Are we in a Recession? Presale Risk and the Turning Point in the Housing Market.

CURRENT INTEREST RATES IN CASE YOU MISSED IT...MORE REAL ESTATE NEWS Kitchener-Waterloo leads nation in housing price decreases since June: report (City News) 'Market conditions': Slow December caps off worst year for GTA real estate sales in 23 years (Brampton Guardian) Real estate prices have dropped in many Ontario markets since June. These are the communities with the biggest declines (CP24) National Post – Kitchener-Waterloo leads price fall in Canadian real estate: report Toronto is a step closer to building one of the largest affordable housing projects in decades (CBC News)  'People need to have comfort': House prices keep rising in Oakville but dropping in Burlington while sales drop in both municipalities, new real estate report reveals (Inside Halton) Economists see 'turning point' in housing market this year as interest rate cuts loom (CTV News) 82 per cent of Canadians believe the country is in a recession: survey (iHeartRadio) A wave of defaults has real estate lawyers urging presale buyers to be cautious (CBC News) The brutal 2023 housing market was just like the 1980s—except with a little bit of Global Financial Crisis thrown in (Yahoo! Finance) Financial Post - GOLOMBEK: Buying your first home? These are the top 3 tax strategies to use Financial Post – This Canadian housing market just had its worst year since 2000 Financial Post – Mortgage payments set to jump $400 a month, but Canadians can cope, say banks Financial Post – Housing market faces 'turning point' with Bank of Canada rate cuts this year National Post – HOLMES: How to make the most of multi-generational living Globe and Mail – Economists see ‘turning point’ in Canadian housing market this year as interest rate cuts loom Fixed mortgage rates are on the decline. Is now the time to lock in? (Global News) Canadian homeowners face large increases to property taxes (CTV News) Digging for deals in the winter real estate market (The Globe and Mail) Even with expected rate cuts, mortgage payments will continue to rise for years: BoC research (Canadian Mortgage Trends) The housing market is heading for the affordability of 2 years ago, Morgan Stanley says. Here’s why its home price forecast is unchanged (Yahoo! Finance) As weather-related disasters mount, some Canadian homeowners can't get insurance coverage (CBC News) Interest rate cut forecasts for 2024 too optimistic, National Bank CEO warns (The Globe and Mail) Strategies to reveal winter real estate deals (The Globe and Mail) Calgary transforms old offices to apartments; experts say other cities should follow (CTV News Calgary)   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     Share Tweet Forward

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Happy Holidays! Last Week for the First Time Home Savings Account & Real Estate News

As the year draws to a close, I wanted to take a moment to reflect on the past twelve months. Beyond the world of real estate and mortgages, 2023 has been a year filled with personal milestones, joyous occasions, and cherished memories with family. One of the highlights that stands out for me is the unforgettable Whistler snowboarding experience. Sharing the slopes with the father of a snowboard olympian and even capturing some jump videos made for an exhilarating adventure, one that will be etched in my memory for years to come. A surprising and heartwarming moment was the Blue Jays game I attended as a surprise for my dad's 70th birthday with all of my siblings and their families. The joy on his face and the shared excitement of the game created memories that will forever be cherished. We had pretty great seats, too. Home took center stage this year as I had the pleasure of hosting four memorable parties, including a spectacular 40th surprise celebration for my brother-in-law. There's nothing quite like the warmth of family and friends gathered under one roof. On a bittersweet note, we said goodbye to a beloved member of our family, Cleo, our beautiful cat. While it was a difficult farewell, we find solace in the long and happy life she lived, leaving behind cherished memories. Both doggies healthy and happy and so is our cat Rumi. I feel blessed to have such cuteness in my life! Family celebrations continued with a beautiful wedding and the arrival of a new baby boy, adding to the growing list of adorable nephews who bring so much joy and love into our lives. Sports enthusiasts will appreciate the thrill of being just eight rows from the ice at a Leafs pre-season game against the HABS. The energy of the game and the proximity to the action made it an experience to remember. As the year concludes, I am wrapping up 2023 with a trip to spend time with family and soak in the sun in the south—a perfect way to rejuvenate and reflect on the blessings of the past year. I want to express my sincere gratitude for allowing me to be a part of your real estate journey. It's clients like you who make every day in this profession rewarding and fulfilling. Wishing you a joyous holiday season and a new year filled with happiness, good health, and continued success. Thank you for being a valued part of my 2023 journey. Best wishes in 2024!Diana. 2023 IN REVIEW... PHOTO HIGHLIGHT VIDEO   CURRENT INTEREST RATES IN CASE YOU MISSED IT...MORE REAL ESTATE NEWS RECO Information GuideTRESA Global News – Underbidding now taking place in many real estate markets across Ontario: realty company RECO Guide link - https://www.reco.on.ca/getmedia/da38cca5-8432-4018-821e-57260d6caebc/RECO-Information-Guide.pdf Here’s why prospective first-time buyers should open a First Home Savings Account before Dec. 31 (Canadian Mortgage Trends) Mortgage Professionals Canada - The Housing and Mortgage Market Review: December 2023 Financial Post - Record population growth risks aggravating Canada's housing headaches, say economists Financial Post – 'Record after record'— Canada's population grows at fastest pace since 1957 Financial Post – Bank of Canada's Macklem talks down interest rate cuts, but says 2% inflation 'now in sight' Financial Post – VIDEO: Expect Canadian real estate market to come 'unstuck' in 2024 Globe and Mail – EDITORIAL: B.C. drafted a bold housing blueprint. The rest of Canada should copy it Storeys – B.C. is allowing up to six units per lot. Will they actually be built? Canadian Mortgage Professional – What is Canada's latest population figure? Five-year fixed mortgage rates fall below 5 per cent as bond markets anticipate rate cuts (CTV News) A comprehensive retrospective of CMHC housing reports (CHMC) Canadian Real Estate Association CREA - Housing Market Snapshot for November 2023 Canadian Real Estate Association CREA - Canadian Home Sellers Joining Buyers on the Sidelines Canadian Real Estate Association CREA - VIDEO: Housing Market Report Canadian Real Estate Association CREA - Bank of Canada Holds Policy Rate at 5% in Final Announcement of 2023 Canadian Real Estate Association CREA - Things You Can and Can’t Negotiate When Buying a Home Canadian Real Estate Association CREA - Why Open Houses Can Be Helpful, Even If You’re Not Buying Just Yet Can Canadian homeowners stay on top of mortgage payments in 2024? (Wealth Professional) The silver lining of Canada’s real estate market recession (Real Estate Magazine) Buyers are tuned out, despite mortgage rates hitting lowest point since June (Yahoo Finance)     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  

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Statistics Are In. RECO Information Guide, Tresa, Holiday Snacks, Contribute Now to Home Savings Account. The Gift of Another Rate Drop! Bottom Yet?

  CURRENT INTEREST RATES IN CASE YOU MISSED IT...MORE REAL ESTATE NEWS RECO Information GuideTRESA Toronto Star – Open bidding — allowing home buyers see competing bids — has arrived in Ontario. But will anyone actually use it? Ontario homeowners worried about impact of extreme weather – survey (Insurance Business Magazine) Toronto Star – Investors now own more than 50% of Toronto’s new condos — and experts say they’re driving up housing prices for everyone Toronto Star – The rules for real estate bidding wars in Ontario have just changed. Here's what you need to knowCanadian Housing Markets Bottoming - Dr. Sherry Cooper Homebuyers are finally feeling relief now that soaring mortgage rates have reversed and monthly payments are at their lowest level in 8 months (Yahoo Finance) Home prices continue to fall under the weight of high interest rates, but affordability not improving (Canadian Mortgage Trends) Financial Post - Home prices fall again as sellers start to back away National home prices declined again in November amid signs that sellers are giving up on the housing market after rushing to list properties earlier in the fall. CTV News - Canadian home sales, listings, prices down in November from a month earlier: CREA Home sales, prices and listings fell in November from a month earlier as many potential buyers and sellers hunkered down to wait for signs of relief on interest rates, the Canadian Real Estate Association said Thursday. Sales fell 0.9 per cent compared with November last year, and fell by the same amount on a seasonally adjusted basis compared with October. Global News – Liberals to revive ‘war-time housing’ blueprints in bid to speed up builds National Sales Slowdown Continued in October as Buyers ‘Hibernating’: CREA The Top Buyers’ and Sellers’ Markets Across Canada for Winter 2023 Financial Post – OSFI maintains mortgage stress test amid calls for it to be eased Storeys – Buyers’ ‘strong bargaining position’ will drive home prices down until rate cuts begin Mortgage interest payments up nearly 90% since start of BoC rate hikes: StatCan (Canadian Mortgage Trends) How your savings can cut your mortgage and tax bills at the same time (Yahoo News) Posthaste: Get ready for the 'great adjustment' in Canada's housing market (Financial Post) Housing affordability at worst levels in 41 years, Bank of Canada index shows (Global News) Business in Vancouver - Roughly half of first-time buyers likely to use first home savings account: BMO poll A new survey suggests a little more than half of potential first-time homebuyers are interested in using a first home savings account, even though they don't know much about it. CBC The Current – Why some experts say modular homes could ease the Canadian housing crisis Financial Post – Short-term rentals are adding to Canada's housing crisis, report finds Financial Post – Plummeting bond yields could mean lower mortgage rates by spring, say industry watchers National Post – 'Desirable hotspots' in Canada where average home costs under $500K, B.C. realty firm finds National Post – HOLMES: Home renovation tips that never go out of style RBC bracing for renewal impact: three quarters of its mortgages to see higher rates by 2026 (Canadian Mortgage Trends) Lower bond yields could soon mean cheaper mortgages. Here’s why (Global News) Short-term rentals have 'significantly impacted' housing affordability: Desjardins (Business in Vancouver) Mortgage rates under 5%? They’re coming back as lenders slash fixed rates (Canadian Mortgage Trends)    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     Share Tweet Forward

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