Published July 25, 2022 at 3:43 pm
With the turbulent housing market beginning to cool down in recent months, those who are making the move to sell are getting less than they anticipated – and New Era Real Estate knows that every penny counts.
The major real estate brokerage, which services Ontario with its flagship office in Mississauga, is the only brokerage to charge a flat fee of $5,900 for full service, rather than the standard 2.5% – 5% commission that most other brokerages charge.
That flat fee results in huge savings for sellers, which is particularly valuable now as housing prices in many parts of the province are currently evening out and in some cases even dropping due to lower demand.
In Mississauga, for example, a recent report saw home sales in June drop by a whopping 42.9% compared to June of last year. Home sales were 26.9% below the five-year average and 38.8% below the 10-year average for the month of June.
A similar situation is happening in Halton Region, which saw benchmark prices fall in Oakville and Milton as higher interest rates cooled off the market.
“Commissions are out of control and as this market remains unstable, now more than ever it’s important to save on excessive real estate commissions,” said John Martino, Founder, New Era Real Estate.
“We want to maintain the full-service everyone wants but at a fair price.”
New Era currently services Toronto, Mississauga, Brampton, Orangeville, Hamilton, Niagara, Guelph, Georgetown, Halton, Durham, and York.
In addition to the more affordable price, New Era doesn’t lock its sellers into lengthy contract commitments, and no payment is required until the property is successfully sold and the deal closes.
New Era’s full service includes the personal home owners portal, market analysis, professional photography of your property, a variety of selling strategies, home preparation, a robust marketing/advertising campaign, scheduled showings and buyer qualification, negotiation, and much more. All New Era listings go on MLS and on all major real estate websites and social media platforms.
All New Era agents and brokers are fully licensed with years of experience, and sellers are matched with agents that specialize in their area.
Sellers also get access to a personalized web portal that provides everything they need to know about the sale of their home: Property photos and details as it would appear on realtor.ca, paperwork signed and broken down into layman’s terms, showing feedback, showing scheduling, messaging and more, keeping sellers fully informed in real time while still having 24/7 access to their agent.
Since its inception, the brokerage has amassed numerous five-star Google reviews from sellers who appreciated New Era’s affordability, simplicity, and convenience.
Residents wondering how much their house is worth can contact New Era Real Estate directly for a free consultation, or use their website, which allows you to accurately determine how much your home is worth and how much you could save by listing with New Era.
New Era Real Estate – We Sell, You Save!
Stay the know
Subscribe now to receive our daily email of today’s top stories in your city!
Hong Kong Billionaire’s K. Wah Wins Shanghai Real Estate Bid, Sees “Excellent” Opportunity – Forbes
Hong Kong billionaire Lui Che-woo has been making successful investments in Shanghai real estate since the 1980s, such as K. Wah Center set along the city’s swank Huai Hai Road. A new project coming amid the country’s economically painful zero-Covid policies took a big step forward on Friday when his flagship K. Wah International Holdings said it had won a joint tender bid for HK$4.18 billion, or $532 million, to develop land on the city’s western side.
K. Wah, though a subsidiary, will hold 60% of a joint venture in partnership with two state-owned companies to develop residential and commercial property in an area planned for artificial intelligence and healthcare-related businesses, the announcement said.
K. Wah said the project “represents an excellent investment opportunity for the group to be engaged in a transit-oriented development to expand its presence in the Shanghai property market, replenish the group’s land bank and is in line with the group’s business development strategy and planning.”
The announcement comes after China’s overall GDP growth fell to 0.4% in the second quarter from a year earlier. In Shanghai, where millions experienced lockdowns of varying duration in the April-June period, GDP shrank by 5.7%. China’s relations with the United States and Europe have been strained by Beijing’s close ties with Russia and recent military exercises near Taiwan.
Mainland-born Lui, worth $12.1 billion on the Forbes Real-Time Billionaires list today, moved to Hong Kong at age four. Possessing only an elementary school education, he helped his grandmother run a retail outfit that sold food staples in Hong Kong as a teenager. In the late 1940s he re-exported army surplus, and by 1950 was buying construction equipment from Japan and selling it to Southeast Asia. In 1964 his was the first private company to obtain quarrying rights in Hong Kong, thanks to a record bid.
After that, Lui started building undistinguished residential housing there. Lui was also an early investor in China, buying into a quarry in Shenzhen in 1980 and later acquiring a land bank in Guangzhou. K. Wah Center opened in Shanghai in April 2005; beside real estate, part of his fortune also comes from the Macau casino operator Galaxy Entertainment Group.
Another long-term Hong Kong success story in Shanghai property development, Shui On Land, led by billionaire Vincent Lo, noted in a filing last month China’s short-term business outlook faces uncertainties. “The Chinese economy faces considerable headwinds amid a highly uncertain geopolitical environment, tense U.S.-China relations, and tightening monetary policy in the advanced economies,” it said. “The property sector debt issue will take time to resolve. Still, the government has the policy means and experience to handle the developers’ debt restructuring process and address the suspended project issue.”
And yet Shui On, whose Shanghai projects include city’s iconic Xintiandi nightlife and shopping area, was nevertheless upbeat about the longer-term investment prospects there. “Although the immediate outlook is less than favorable, the impending market correction should enable us to acquire assets in prime locations at attractive prices during what could be a golden era for new investment,” it said.
See related posts:
Real estate markets slow in most nearby communities – Calgary Herald
Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.
Slowing demand and rising supply in outlying communities like Airdrie have set in along with cooler temperatures of late summer, recent data shows.
Calgary Real Estate Board statistics from last month show sales falling year over year in most communities while supply is rising.
“In all those markets, we’ve seen improvements in inventory,” says Ann-Marie Lurie, chief economist with CREB.
“Still these markets remain quite tight, but we are seeing some price adjustments and that’s because they came up so high during the pandemic.”
Airdrie is the largest and most in-demand market with the highest sales last month, 169 transactions, down almost eight per cent year over year. Still, the community saw inventory rise more than 10 per cent with now more than 1.69 months of supply, an increase of nearly 20 per cent from last year.
Other communities have also seen sales fall and supply rise. These include Cochrane, which had 75 sales, down about 17 per cent from August last year. Its supply is now more than two months, up about 26 per cent year over year.
Okotoks had 53 sales in August, down about 19 per cent year over year while supply grew to more than 1.8 months.
Despite falling demand and growing supply, prices still grew year over year in these communities. The benchmark price in Airdrie increased almost 19 per cent to $493,500. In Cochrane, the benchmark price grew by more than 16 per cent to $517,400 while the benchmark reached $549,300 in Okotoks, also an increase of more than 16 per cent.
Chestermere saw the biggest drop in sales year over year at more than 48 per cent.
Only High River experienced a slight increase in activity with sales last month up 2.5 per cent versus the same span last year.
Spotlight: Making sense of the current real estate market in Newmarket – NewmarketToday.ca
Buying a home at any time is a huge undertaking. It requires a lot of preparation, time and access to expertise.
Homeowners—and those who wish to become one for the first time—have it even harder right now, with conditions seeming to change from month to month.
REALTOR® Dave Starr specializes in home buying and selling in Newmarket and the surrounding areas. With over 35 years of experience in the real estate industry, he is happy to share what he’s learned with others.
Slowing things down
So how would he describe the current state of the market in Newmarket? “It’s finally more normal and realistic,” he says. “A prospective buyer has a little more breathing room to make sure that their financing is in place and they can also consider a home inspection.”
A seller will benefit by working with a more seasoned agent, he says, because they have had prior experience with similar markets. He likens the situation to a professional athlete who has played in the playoffs before or competed in a large-scale event like the Masters in golf.
Earlier in the year, the market was not realistic.
That tended to leave buyers, sellers and agents scrambling. “The end result can be a situation with buyer’s remorse, where the buyer no longer wants to close on their purchase. The banks sometimes struggle with appraisals, which can also result in a non-closure,” he says. “In the fast-paced market that took place earlier, some agents potentially made more mistakes, especially since they weren’t experienced enough to handle multiple offers.”
Home inspections and interest rates
While some homes may not require a home inspection, there are lots that definitely need one. “In an extremely busy market, buyers could potentially end up with an unwanted surprise—at a great expense,” says the REALTOR®.
He likens it to the necessity of having speed limits on our roadways. The faster you go, the more chances you have of getting into an accident.
“We are now facing an increased mortgage rate, which many would not like to see, but the truth is it will help balance the market overall. Lower interest rates basically were one of the reasons for the inflated house prices and homeowners were simply taking on larger mortgages than ever,” he says.
For years many homeowners would tell him the same thing: that mortgage money was cheap to them. His answer to that never varied: “You do know you have to pay it back at some point.” If the rate were guaranteed for a lifetime, it would be a different story, but of course that’s not the way it works.
The market over the summer was slower but typical; that has become the norm over the past few years.
The fall market is already starting to pick up, with increased activity, though the number of listings in Newmarket is quite low. Rental availability is both quite expensive and experiencing a shortage.
Says Starr, “The market moving forward should remain stable. Buyers and sellers will have more time to make the best educated decision for their needs and wants.”
Whether you’re a buyer or a seller, he welcomes any calls or emails.
Let Dave Starr Real Estate help you make your next move. Call 416-520-3231 and get the Starr treatment you deserve.
City of Brampton teams up with National Bank and Tennis Canada to unveil National Bank Tennis Courts at Morris Kerbel Park First court in the National Bank Play Your Court Program
Former Chinese Justice Minister sentenced to life imprisonment for corruption
Tesla announces nearly 1.1 million of its car windows can pinch a person’s fingers
Silver investment demand jumped 12% in 2019
Europe kicks off vaccination programs | All media content | DW | 27.12.2020 – Deutsche Welle
Global Media Markets, 2015-2020, 2020-2025F, 2030F – TV and Radio Broadcasting, Film and Music, Information Services, Web Content, Search Portals And Social Media, Print Media, & Cable – GlobeNewswire
News20 hours ago
India warns citizens in Canada about safety
Politics19 hours ago
Equilibrium/Sustainability — Oil’s diversity push crashes into abortion politics – The Hill
Health23 hours ago
COVID-19 Outbreak Declared at Southbridge Pinewood – Hummingbird – Thunder Bay District Health Unit
Health22 hours ago
Health Matters: COVID-19 patients developing autoimmune diseases – Global News
Sports19 hours ago
Rejuvenated Hoglander opening eyes at Canucks camp: 'He looks so much faster' – Sportsnet.ca
Politics20 hours ago
Is Beacon Hill a political 'safe space'? – GBH News
Business22 hours ago
TSX slumps as oil falls below $80 and economic gloom settles in – CBC News
Health12 hours ago
Blood Clot Risk Remains Higher Almost a Year After COVID – The Suburban Newspaper