Connect with us

Real eState

Low supply and increased demand push home sales to new heights – London Free Press (Blogs)

Published

 on


Article content continued

“If home is where you always are, space is that much more important,” he said.

Even features like swimming pools, which weren’t necessarily seen as assets in the past, have jumped to the top of the list for some buyers, Campbell said.

“If you have kids and they can’t go out and play anywhere else, having a pool in the summer months sounds fantastic,” he said. “It was a high demand item this year.”

The market remains a challenge for buyers, however, said Chase Komaromi, an agent with RE/MAX Advantage Realty.

Prices are the first hurdle, particularly for first-time homebuyers, he said.

“Even with mortgage rates being low, it’s still tough to come up with the money for a down payment on an expensive house, especially if you are just finishing university, getting your first job and trying to pay off school,” he said.

Multiple offers on homes selling above asking price are also a common source of frustration, Komaromi said.

“It’s tough for buyers because they think they see a listing price in their range, and then they see it sell for $50,000 more,” he said. “And even finding something in your price range, in some cases, you still have to put a lot of work into the house.”

BY THE NUMBERS

$555,324: Average sale price across the London region

30 per cent: Year-over-year increase in average sale price

596: Homes sold in December

9,976: Homes sold in 2020

AVERAGE PRICES ACROSS THE LONDON REGION

Central Elgin: $473,000

London East: $418,200

London North:  $589,600

London South: $475,400

Middlesex Centre: $725,300

St. Thomas: $392,500

Strathroy-Caradoc: $571,800

Let’s block ads! (Why?)



Source link

Continue Reading

Real eState

LACKIE: Toronto real estate defying all conceivable expectations amid pandemic – Toronto Sun

Published

 on


Article content continued

It was a perfect storm.

By the end of 2020, rental transactions in Toronto were down 20% from the year before. Average rent, down 5% across the GTA, fell a full 15% in the downtown core alone.

Notwithstanding the broader social and economic concerns of this moment we’re in, it is finally a good time to be an apartment hunter.

We apologize, but this video has failed to load.

[embedded content]

Now, prospective tenants considering a move have options — units without thoughtful floor plans, outdoor space, a great view and daytime sun will languish. So would-be landlords are doing all they can to sweeten the deal — everything from signing incentives to rent rebates, to free parking, cable and Wi-Fi — anything to be competitive.

The question is then, how low can it go and how much longer can we expect this to last?

Given that the current state of things is a direct result of the fallout of the pandemic economy, it’s a safe bet that recovery will depend on how long it takes for life to return to some semblance of normal.

Simply put: this is a COVID problem – not a standalone crisis of the rental market. Once vaccines are widely distributed, universities and workplaces reopen, and Toronto reclaims its position as a hub for business, culture, and nightlife, it is a certainty that things will stabilize. And when it does, we will be reminded of the looming crisis we were bracing for prior to the pandemic — a housing supply falling well behind keeping pace with population growth and new immigration.

@brynnlackie

Let’s block ads! (Why?)



Source link

Continue Reading

Real eState

With the real estate market still growing, here's how to invest this year – Financial Post

Published

 on


Article content

This article was created by StackCommerce. While Postmedia may collect a commission on sales through the links on this page, we are not being paid by the brands mentioned.

Investing in real estate has always been considered a smart move, and with so many Canadians in search of better housing thanks to the pandemic, the moment is right to strike. RBC estimates home resales in Canada increased by 13 per cent last year and predicts sales will hit an even higher level in 2021. Clearly, there is money to be made, but understanding the real estate market requires skill and know-how.

Every good investor takes time to study their intended market before making a move. Investing in a home for your entire family is considerably different from nailing down the perfect time for buying a building to flip when the demand is high. If you have ever considered purchasing an investment property, you’ve probably struggled with deciding which type of home is the right one to pour your money into. Not to mention all the other important questions you’ll need to answer for an endeavour as big as this one.

Let’s block ads! (Why?)



Source link

Continue Reading

Real eState

'Enamoured with the Hammer': Toronto real estate agent rhymes about downtown Hamilton loft – TheSpec.com

Published

 on


The career trajectory of Arty Basinski is a somewhat head-spinning affair. First he was a musician, writing his own songs and playing in bands. This didn’t pay the bills, though, so he went into real estate.

Early in his newfound profession, after struggling for a few months, he had a breakthrough — why not advertise the properties using the power of song?

The plan worked. Now, Basinski’s listings go viral online on a semi-regular basis, thanks to the music videos he makes for his clients.

First it was “Lil Yellow House,” a duet he performed with the owner of a semi-detached bungalow in Toronto’s east end. The video amassed over 66,000 views on YouTube and the house sold for just under asking price within a week.

His latest work is a promotional video for a mixed-use building in downtown Hamilton, which includes two apartments above a recently-abandoned vape store.

In “Loft Mi Casa,” which had just over 1,000 views on YouTube as of Jan. 22, Basinski makes the case for buying real estate in Hamilton.

www.LoftMiCasa.com for all the details on this Hamilton Storefront Property

It opens with a shot of Basinski standing before the Toronto skyline, CN Tower in the distance, evidently down on his luck. A man in a leopard-print onesie kicks him in the stomach for slapstick effect.

“Leaving T.O., I’ve got nothing left to give. The bills are piling up, I can’t afford to live,” he tells us.

So off he goes to Hamilton, westbound along the QEW, to the land of cheaper real estate.

“I’m enamoured with the Hammer,” the Torontonian rhymes. “Luxury condos are advertising; watch construction from your patio — quite mesmerizing.”

Basinski’s musical background has been a boon for his real estate career. “I’ve wanted to do this for a long time, being a musician myself,” he told The Spectator. “Oddly enough, I didn’t make it as a musician, but the real estate game turned me back into one, I guess.”

He composes most of the music himself with help from his clients, many of whom have musical hobbies. The chorus in “Loft Mi Casa” — seemingly salsa-inspired, impressively catchy — was recorded in his client’s home studio. The client sings the hook.

When he’s not selling property or rapping about it, Basinski is part of a roving circus act. He drums, he juggles, he spins sticks lit on fire and he walks around on stilts — sometimes all at once.

His novel approach to advertising lends itself to commercial property especially, which can take between six months and a year to sell, he said. “It takes so long to sell commercial storefronts, so you have to keep the property at the forefront of people’s minds. You have to come up with new ways to get people to remember these properties.”

Loading…

Loading…Loading…Loading…Loading…Loading…

In addition to two apartments and storefront, the Loft Mi Casa building, at 17 John St. N., includes a storage room and an outdoor patio. Its namesake loft boasts a 25-foot-high ceiling and mezzanine bedroom with a walk-in closet.

A “ROI guarantee,” said Basinski. That’s return on investment.

The COVID-19 pandemic has made properties harder to sell, so Basinski has also offered a few incentives. If you find the hidden cat in the 3D walk-through posted to his website, he’ll shave off $5,000.

Jacob Lorinc

Jacob Lorinc is a Hamilton-based reporter covering business for The Spectator. The funding allows him to report on stories about education.

Let’s block ads! (Why?)



Source link

Continue Reading

Trending