Buyer/Seller Resources

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Buyer/Seller Resources Non-Financial Benefits of Home Ownership Homeownership is so much more than a financial decision.  There are two major questions on buyers’ minds in today’s market: Though prices have been decreasing for a few months, How Low Will Prices Go?  Interest rates have increased considerably, and though the rate held in the last BOC announcement, the question is: When will rates start […]
Buyer/Seller Resources Prices Are Coming Down and So Are Rates On a regional basis, the HPI Home Price Index has fallen every month since August and into November. Specifically, the price drops were as follows: Monthly HPI Price %’age Change Jul-23 $667,600   Aug-23 $660,900 -1.0% Sept-23 $651,700 -1.4% Oct-23 $639,900 -1.8% Nov-23 $635,400 -0.7% Aggregate Loss -4.9% As noted, these downward fluctuations in price […]
Buyer/Seller Resources The 5-Yr Buy & Hold Rule Builds Wealth Pt.1 Over the last number of months real estate values have no doubt been declining resulting in a wait and see for many. We all know that the rise in interest rates, soaring prices, plus other factors have contributed to this market reaction. And, predictions by experts are all over the map. Can You Predict When […]
When Is Holding a Mortgage Possible? This article spotlights a Seller Take-Back Mortgage. That is when a seller is in a position to offer to hold the mortgage for the buyer. When is this Alternative Possible? Here are 7 Situations. Possibly the seller is eager to sell but interest is low due to market conditions; It can be entertained when a […]
Competing Offers, Part 2 In our first article on competing offers, we pointed out the process as directed by RECO, the Ontario Regulator. Here we cover some misconceptions and hopefully clarify common issues with the following Q&A. Is Proof of Presentation Required?  In competing offer situations, some buyers can be disappointed in being told another offer was accepted over […]
Competing Offers: The Process, Part 1 Competing Offers Have Resurfaced on Selected Properties Spring has once again given rise to competing offers, mostly in price ranges that are affordable to the greatest number of buyers. So What is the Process for Offer Presentations Under Ontario regulations, an offer must be conveyed to the seller as soon as is reasonably possible unless […]
Foreign Buyer Ban on as of January 1, 2023 The Federal Government’s Prohibition on the Purchase of Residential Property by Non-Canadians Act will be in effect as of January 1, 2023. Who Does it Prohibit Foreign Individuals: The Act prohibits non-Canadians from buying for two years. So if an individual is not a Canadian citizen, is not a permanent resident or is not registered […]
Buyer/Seller Resources What are the Major Exemptions for Canada’s Foreign Buying Ban The following is a list of exemptions within the Foreign Buyer Ban regarding the purchase of residential properties in Canada. Who is exempt? International students who have filed tax returns for the past five years and have spent the majority of the past five years in Canada are excluded. In addition, the purchase price of […]
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Buyer/Seller Resources MLS Stats Year to Date in Niagara From Jan. 1, 2022 to July 31, 2022 vs. the same period last year. YTD to July 31-22 vs. Same time Last Year No. Unit Sales 2022 No. Unit Sales 2021 % Change No. Sales Avg. Sales Price 2022 Avg. Sales Price 2021 % Change Avg. Sales Price Fort Erie 383 609 -37% $775,685 $637,798 […]
Impact of a Shifting Market Investors Purchased 90% of New Supply Back in January, 2022, Better Dwelling reported that up to 90% of new real estate supply was purchased by investors due to cheap credit. These are non-owner occupied houses. The information derived from Statistics Canada defines such a purchase “as a home that’s “vacant, rented out to others, or […]
How to Save with Higher Rates & Lower Prices With the market indicating reduced prices and higher mortgage rates, the following might serve to give a buyer a different perspective on affordability. The Drop in Prices As mentioned in the Century 21 Today June Newsletter, the overall average price in the Niagara region has changed. February represented the highest average price at about $872,000. […]
Is Co-Ownership Buying Coming to Niagara Has The Time Come for Niagara Residents? With prices in Niagara soaring, the prospect of home ownership is slipping away for some local residents. So the time has come for some to embrace the concept of co-ownership. Co-ownership is not a new idea as it is being employed in BC and in Toronto, as well […]
Buyer/Seller Resources “Excess Exuberance” in Housing Market, Nationally & Locally Hot Market Amid Early Warning Signs Recent news reports that the Bank of Canada is monitoring “the hot housing market amid warning signs.”  Speaking in Edmonton, Mr. Macklem stated it this way: ““What we get worried about is when we start to see extrapolated expectations, when we start to see people expecting the kind of […]

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