Canada’s mortgage market is an evolving landscape – and home buyers need to stay vigilant to remain competitive. This week, the spotlight is on shrinking affordability in real estate; the average house price of over $1 million in some markets certainly doesn’t reflect the income growth of our nation’s typical buyer.
And it’s not easier once you break into the market – our recent study finds those upgrading from a condo to a house in Toronto and Vancouver face an average income gap of over $3,000. Read on for the full story.
Stuck In The Starter Home
We know times are tough for Canada’s first-time home buyer – but they can be even more dire for those looking to move up in the market. The price gap between condos and detached homes has growth so wide, that upgrading to a larger abode is out of financial reach for many – even with the equity they’ve built up from their first home. What options do these buyers have? Read on for the full story.
Read Penelope’s Blog | Stuck in the Starter Home
Prep For a Fall Home Sale With 3 Summer Renos
Thinking of putting your home on the market come fall? Summer is the perfect time to add a few improvements, and get your property into top selling shape. Check out our tips for strategic renos that’ll up your home’s value.
Read Allan’s Blog | Prep for a Fall Home Sale With 3 Summer Renos
RECO Cracks Down on Phantom Real Estate Bids
If you’ve ever been a home buyer in one of Canada’s competitive markets, you’ve likely encountered phantom bids – pressuring hints that other offers are on the way for the property you’re eyeing. The practice has never been condoned, but the Real Estate Council of Ontario is taking extra measures against the scam, to go into effect by July 1.
Read Sean’s Blog | RECO Cracks Down on Phantom Real Estate Bids
INFOGRAPHIC: The Reno Rookie’s Cheat Sheet
In Canada’s most competitive real estate markets, where million-dollar homes are the norm, many first-timers find buying their dream home is just that – a fantasy. Many turn to renos to improve the space they’re in. Not sure where to start? Our infographic has you covered.
Read Penelope’s Blog | The Reno Rookie’s Cheat Sheet
CMHC Now Covers Only 50% of New Mortgages
Efforts to reduce the CMHC and taxpayers’ exposure to the risky mortgage market has paid off – the Crown corporation has reported it now covers only 50% of new residential mortgages. What does this mean for new borrowers?
Read Gordon’s Blog | CMHC Now Covers Only 50% of New Mortgages
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