Category: Uncategorized
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Check out my listing Listing Address: 40 POMANDER ROAD
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Toronto: Biggest Jump in Required Homebuyer’s Income | Watch Today’s Real Estate Updates & Tips
The annual income required to secure and carry a mortgage has climbed another $3,400 MoM. Required income: – Mid-Q1: $214,100 – Late-Q1: $217,500
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Toronto developers are getting desperate as no one is buying condos anymore
Condo sales in Toronto have plummeted, leading to a surplus of homes on the market. Sellers, including developers, are struggling to attract buyers, with some projects being deferred or going into receivership. To entice buyers, companies are offering incentives like covering mortgage payments, reducing down payments, and providing rental guarantees. Despite a housing crisis, prices…
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Check out my listing Listing Address: 22 RATCLIFF ROAD
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Watch Today’s Real Estate Updates & Tips | The Average Toronto Home Will Cost $2M by 2034
Toronto homes to hit an avg of $2M by 2034, with ↑ 5.6% yearly. MLS Home Price Index shows ↑ 0.3% in Late-Q1 2024, with an avg selling price of $1,121,615.
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Watch Today’s Real Estate Updates & Tips | GTA Housing Prices Expected to Jump 10% by Year’s End
A report predicts GTA housing prices will rise 10% by the end of 2024, due to strong demand and low supply. The increase is attributed to factors like warm weather, reduced interest rate expectations, and high immigration.
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Check out my listing Listing Address: 507 – 30 ROEHAMPTON AVENUE W
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Here’s how much you need to earn to buy a home in Toronto right now
Mortgage rates in Canada are decreasing, but affordability for homebuyers is worsening in most cities, including Toronto. A recent analysis shows it's harder to qualify for a mortgage due to rising home prices. Despite a slight drop in interest rates, home values are increasing, leading to decreased affordability in many cities. Continue to full article
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Watch Today’s Real Estate Updates & Tips | Bidding Wars Return to Toronto’s Real Estate Market
Bidding wars are back in the Toronto Real Estate market.~50% of the neighborhoods are now considered "in bidding war territory".
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The devil’s in the details of federal funding for Toronto housing
The City of Toronto is receiving federal funding to create new housing units, with a goal of 65,000 units over seven years. The initial $471 million will not directly reduce unit costs but will facilitate faster approvals and hiring. Various programs and initiatives are in place to achieve the housing goals, including repairing existing facilities,…