10 Day Cooling Offer Period | CREA Housing Snapshot | Dr. Sherry Cooper: Odds of a Rate Cut Next Week & Real Estate News Brantford ON

View this email in your browser OREA - Yesterday, the Government of Ontario announced the Homeowner Protection Act, 2024 – with several major wins for Ontario REALTORS® and hardworking families across the province, which OREA has advocated for in recent months and years.The Act includes several REALTOR®-led advocacy priorities, most notably a 10-day cooling-off period for buyers of newly built freehold homes. This will allow purchasers 10 days to review and cancel an agreement without penalty, a protection that is already in place for pre-construction condo sales in Ontario. Extending this protection to newly constructed homes will enhance consumer protection and level the playing field between hardworking families and corporate developers.And thanks to the lobbying efforts of OREA and our nearly 100,000 REALTORS® across the province, the Government will not be extending this protection to resale homes, which would have negatively impact both buyers and sellers.The new legislation also bans the registration of Notices of Security Interest (NOSIs), reducing unnecessary fees from being tacked onto the price tag of a home. Too many Ontarians, when selling their home, have been surprised by one or more NOSIs – fine print in contracts for water coolers, furnaces, or security systems that include exorbitant buyout charges to be paid before the home can be sold.Additionally, the Act will modernize zoning rules to allow for more homes to be built near public transit, making it easier and faster to increase Ontario’s housing supply in urban areas – a change that OREA has long-advocated for, including in our recent report, Analysis of Ontario’s Efforts to Boost Housing Supply.The Homeowner Protection Act, 2024 is a significant step toward enhancing consumer protection for Ontarians making one of the largest transactions in their lives, all while building much-needed housing supply across the province.Read our full statement here. Storeys – Ontario moves forward with 10-day ‘cooling-off’ period on new freehold purchases Globe and Mail – Ontario extends cooling off period, bans some liens on homes by vendors Toronto Sun – Half of GTA residents would move to one of Canada's more affordable cities: Survey London Free Press – London condos record Canada's biggest year-over-year 'benchmark' price hike CBC Kitchener Waterloo – Waterloo region preparing for 1 million residents by 2050 — Redman CMP Magazine – High housing costs drive urban Canadians to cheaper markets Ontario cottage country sees soaring prices amid new capital gains tax increase (Real Estate Magazine) Burlington offers best work-life balance in Ontario, according to new report (Insauga) The Standard $1.56-billion EV battery plant a ‘game-changer for Niagara’ Dr Sherry Cooper: Odds of a Rate Cut Next Week Rise with Disappointed Canadian GDP Growth 👀  Are we witnessing a stronger spring market compared to last year? Because Canadian real estate prices have rebounded after a seven-month slump, with April seeing a 4% rise from the start of the year.    Learn more >> 🧑🏽‍🍳  Considering a fresh kitchen design but worried about the mess of a demo? Discover 6 creative, budget-friendly upgrades to achieve your dream kitchen without the demo hassle.   Learn more >>   Wealth Professional – Are Canada's major cities facing an exodus to more affordable alternatives? Globe and Mail – Making homeowners into home builders Toronto Star – What do I need to know about the outside of my house? Here’s a checklist of essential tasks BMO reports increased delinquencies, predicts prolonged high interest rates (Canadian Mortgage Trends) Immigration provides important buffer for Canadian economy as population greys: RBC (Canadian Mortgage Trends) Posthaste: Why the Bank of Canada just might hold interest rates again (Financial Post) Mortgage discounts fail to lure borrowers away from shorter-terms as rate cuts near (Financial Post) Fix or float is the big mortgage question as Bank of Canada rate cuts approach (Financial Post) Canada must more than double the average number of homes built annually to meet the federal housing plan (The Hub) Homeowners turn to savings as financial pressure mounts (CMHC) Storeys – ‘Calm is good’ in Canada’s housing market: BMO Global News – Are home inspection conditions back in the cards? What buyers should know Wealth Professional – Spring should be a boom time for the housing market, it's not Financial Post – Waiting for warmth: Housing sales slump as spring blooms Financial Post – Would-be homebuyers are in limbo and only the Bank of Canada can free them Globe and Mail – CESTNICK: How the personal-residence exemption can help minimize taxes on capital gains Zoocasa - How the new capital gains tax is impacting cottage country this year Zoocasa - Do this first before you hire a moving company! Inflation is down - enough to bring the bank rate down and lower mortgage costs? June 5th is the next critical date (Burlington Gazette) What to consider before co-owning a home (The Globe and Mail) Regulations, ‘fragmented’ construction sector holding back housing starts: CMHC (Canadian Mortgage Trends) CREA: Rising inventory signals prime buying opportunities   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  |  SearchBestMortgages.com  

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Dr. Sherry Cooper: Odds of a Rate Cut Next Week | CREA Housing Snapshot | Local Events

View this email in your browser Creatively United - Local Events Times Colonist - Trustee concludes Greg Martel ran a massive Ponzi scheme Times Colonist - Online building-permits application site aims to standardize process in all B.C. jurisdictions Victoria Times Colonist – B.C. Ferries told to improve relationship with ferry-dependent communities Victoria Times Colonist – Oak Bay Tea Party returns to Willows Park for 62nd year 9 Renovations That Increase Home Value Unveiling The Power of Renovations with LIDA Construction Victoria Times Colonist – Plan for five-storey residential building in Vic West clears first hurdle Victoria Times Colonist – Victoria OKs supportive housing facility in Vic West; ‘slap in the face,’ some residents say Globe and Mail – GOLD: Landlord-use now most frequently used tool to evict B.C. rentersDr Sherry Cooper: Odds of a Rate Cut Next Week Rise with Disappointed Canadian GDP Growth 👀  Are we witnessing a stronger spring market compared to last year? Because Canadian real estate prices have rebounded after a seven-month slump, with April seeing a 4% rise from the start of the year.    Learn more >> 🧑🏽‍🍳  Considering a fresh kitchen design but worried about the mess of a demo? Discover 6 creative, budget-friendly upgrades to achieve your dream kitchen without the demo hassle.   Learn more >> Wealth Professional – Are Canada's major cities facing an exodus to more affordable alternatives? Globe and Mail – Making homeowners into home builders Toronto Star – What do I need to know about the outside of my house? Here’s a checklist of essential tasks BMO reports increased delinquencies, predicts prolonged high interest rates (Canadian Mortgage Trends) Immigration provides important buffer for Canadian economy as population greys: RBC (Canadian Mortgage Trends) Posthaste: Why the Bank of Canada just might hold interest rates again (Financial Post) Mortgage discounts fail to lure borrowers away from shorter-terms as rate cuts near (Financial Post) Fix or float is the big mortgage question as Bank of Canada rate cuts approach (Financial Post) Canada must more than double the average number of homes built annually to meet the federal housing plan (The Hub) Homeowners turn to savings as financial pressure mounts (CMHC) Storeys – ‘Calm is good’ in Canada’s housing market: BMO Global News – Are home inspection conditions back in the cards? What buyers should know Wealth Professional – Spring should be a boom time for the housing market, it's not Financial Post – Waiting for warmth: Housing sales slump as spring blooms Financial Post – Would-be homebuyers are in limbo and only the Bank of Canada can free them Globe and Mail – CESTNICK: How the personal-residence exemption can help minimize taxes on capital gains Zoocasa - How the new capital gains tax is impacting cottage country this year Zoocasa - Do this first before you hire a moving company! Inflation is down - enough to bring the bank rate down and lower mortgage costs? June 5th is the next critical date (Burlington Gazette) What to consider before co-owning a home (The Globe and Mail) Regulations, ‘fragmented’ construction sector holding back housing starts: CMHC (Canadian Mortgage Trends) CREA: Rising inventory signals prime buying opportunities       Diana Winger Personal Real Estate Corporation eXp Realty | CNE, SRS, SRES, ABRMortgage Agent Level 1 Valko Financial LTD #13047Dominion Lending Centres WingerRealEstate.com | SearchBestMortgages.com(250) 588-8839  (226) 705-3369ON YOUR TEAM!   Share Tweet Forward

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CREA Housing Stats | New Developments & Real Estate News

View this email in your browser NOW FOR SALE. - Welcome to Stylish Living on the Saanich Peninsula. Luxury 1 & 2 Bedroom Condominiums coming to Saanichton BC Globe and Mail – B.C.’s strict new short-term rental rules pit housing supply against homeowners struggling to pay mortgages Victoria Times Colonist – CONDO SMARTS: Council must pay back unused portion of levy Victoria Times Colonist – Saanich to ask province for exemption on secondary suites in rural areas CBC B.C. – More B.C. homes to be eligible for heat pump rebates next month Victoria Times Colonist – Saanich approves another townhouse project near Swan Lake Victoria brings land-use bylaw into alignment with new provincial law (Times Colonist) Victoria Times Colonist – Amid ongoing drought, Island prepares for another brutal fire season Victoria Times Colonist – Victoria council advances controversial project on Richardson Street Victoria Times Colonist – Langford passes 15.6% hike in property taxes amid protest Mixed-use developments diversify as demands increase (Times Colonist) Victoria Times Colonist – Saanich residents express worry about massive change amid debate over new Official Community Plan Regulations, ‘fragmented’ construction sector holding back housing starts: CMHC (Canadian Mortgage Trends) 2024 recession now expected to be “shallower and shorter,” says Oxford Economics (Canadian Mortgage Trends) Home building lags despite record number of construction workers, CMHC finds (Financial Post) New Insights into Canada's Housing Construction Potential (News Wire) Real estate prices stable in April (Bay Today) Housing market bounces back (CTV News) CREA update: Canadian housing market is back in balance Housing dilemma, should you rent or buy? Financial Post - Canada's housing market sees surge in listings, giving buyers' rare advantage Storeys – ‘Most balanced since before the pandemic’: Canadian home sales dip, inventory rises Rising interest rates and affordability concerns continue to impact Canadian homebuyers: CMHC (Real Estate Magazine)April asking rent prices up 9.3% across Canada; as Ontario sees only decline: report (Canadian Mortgage Trends) DR Sherry Cooper - April's Strong Job Gains Likely Postpone Rate Cuts Until July National Observer – Fear of sinking real estate values hinders flood mapping Globe and Mail – Property insurer Intact rolls out pilot project to fireproof homes when wildfires are near CMHC exceeds 2023 housing goals despite economic headwinds (Canadian Mortgage Trends)Bank of Canada says financial system is stable, but risks remain (CTV News)Big vision using tiny homes to address housing shortfall (CTV News) Renters so far more ‘vulnerable’ than homeowners amid higher interest rates. Why? (Global News) An overview of housing promises from all of the 2024 provincial budgets (Canadian Mortgage Trends)       Diana Winger Personal Real Estate Corporation eXp Realty | CNE, SRS, SRES, ABRMortgage Agent Level 1 Valko Financial LTD #13047Dominion Lending Centres WingerRealEstate.com | SearchBestMortgages.com(250) 588-8839  (226) 705-3369ON YOUR TEAM!

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