Monday, May 1, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
If you’ve found the perfect condo and you’re ready to buy, you’ve probably realized that closing this type of property sale can be expensive. If there are no major issues, it makes sense to try to save money wherever possible and complete the property sale quickly.
Many buyers fall into this mindset, but acquiring a condo from the previous owner is a huge gamble. The good news is that you can make a conditional offer that requires the property to pass a condo inspection before the deal is closed
With that said, condo home inspections can help you evaluate a huge range of variables. From common areas to the water heater, air conditioning, and structural elements, understanding the different elements that home inspectors assess will help you find the best condominium.
To help you out, we’ve put together a home inspection condo guide. In it, we&r. ...
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Monday, April 24, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
The Greater Toronto Area (GTA) housing market has seen a surge in buyer competition, as March 2023 statistics show a tightening market. Consequently, the average sale price exceeded the average list price for the first time since May 2022.
Toronto Regional Real Estate Board (TRREB) President Paul Baron confirmed this growing competition in various GTA neighbourhoods. According to consumer polls, the demand for ownership housing will likely grow this year. Furthermore, first-time buyers are expected to lead the recovery as average rents approach the cost of property ownership.
Sales and Listings Overview
In March 2023, GTA REALTORS® reported 6,896 sales through TRREB’s MLS® System, a 36.5% decline compared to March 2022. However, sales grew on a month-over-month basis in both actual and seasonally adjusted figures. New listings also decreased year-over-y. ...
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Monday, April 10, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
We’ve been wondering for a few months whether—and to what extent—2023 would be a recovery year for housing markets following a steep drop-off in 2022, albeit from a lofty start.
Our forecast, published back in January, predicted a modest recovery or the start of a recovery, but forecasts are by their very nature always conservative.
A great example of a recovery year is 2019, coming off the stress test in 2018. It started off slow but there were no listings. Sellers were waiting for spring. This year is looking increasingly similar.
February 2023 saw the same month-over-month drop in seasonally adjusted new listings that we saw in February 2019. This is not a market being flooded with listings. Quite the opposite.
From a demand vs. supply standpoint, we’re still in (or close to being in) a seller’s market at the national level. Future s! ...
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Monday, April 3, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
This week, Deputy Prime Minister and Minister of Finance tabled the second budget of the 44th parliamentary session, “A Made-in-Canada Plan”. This budget is heavily focused on measures to address the cost-of-living crisis, provide inflation relief, invest in public health care, and build Canada’s clean economy.
The budget followed an announcement of amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act, on Monday, March 27. The Canadian Real Estate Association (CREA) has been actively lobbying for changes to the prohibition since it was announced.
The announced amendments include:
Enable more work permit holders to purchase a home to live in while working in Canada. Amending the exception for temporary workers to enable work permit holders with 183 days or more of validity remaining on their work permit or work! ...
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Monday, March 27, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
Canada continues to outperform its peers for population growth. Statistics Canada data shows record population growth in 2022. The increase was driven entirely by immigration, with most of it “temporary” labor. One of the country’s Big Six banks believes the boom is needed to help the country’s long-term labor market issues, but first, it’ll add to infrastructure stress and inflation.
Canada Hit A New Record For Population Growth
Canada’s population ripped higher—entirely due to immigration. Population estimates rose 0.7% (273.9k) to 39.6 million people. That puts the estimate 2.7% (1.1 million) higher in 2022. The country has never seen such a rapid increase in population.
Temporary Immigration Is Driving Canada’s Population Growth
Canada’s race to be the fastest-growing G7 country depends entirely on immigratio! ...
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