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October real estate report shows new listings decreasing, but sales numbers and prices continue to rise – StCatharinesStandard.ca

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Same story, different month.

Continuing a trend seen across the real estate market over the last three to four months, the number of new listings in the Niagara Region was down in October.

“This is frankly something that is consistent right across the market and the country. The fact that we are seeing a reduction in the number of listings is not unique to Niagara,” said Doug Rempel, president of the Niagara Association of Realtors.

In the Greater Toronto Area, the number of new listings was down 34.3 per cent, as compared to Niagara which was down 14.9 per cent from September.

But after a few months of a decreasing number of sales, October saw a “rebounder” month, with sales increasing from 707 in September to 774 in October.

According to the association’s report for October, Niagara’s average sales price — for a three bedroom, two bathroom home — increased from $657,400 to $679,400.

While inventory is down, sales are up.

Rempel said those statistics are reflective of what was seen in the GTA as well, with the Toronto-area recording the second highest number of sales on record last month.

“There is a pent-up buyer demand right across the peninsula. When you break down different parts of the Niagara Peninsula there is not one area where you see a flattening or diminishment of price. There’s not one area where prices have gone down,” he said.

And with fewer homes available and buyer demand high, Rempel said sellers are at an advantage, and have a certain amount of leverage, in the current market.

Buyers want to buy now in anticipation prices will continue to rise. They also recognize there will likely be an increase in interest rates. Rempel said while it won’t be a significant increase, and is not “going to force people out of their homes,” it could trim some people’s buying power.

So whether you are selling or buying, both parties understand there will be competition.

“We are certainly seeing very competitive situations, particularly at the entry level and that makes it altogether difficult for young people who are trying to get in the market. They are oftentimes competing with equity buyers,” he said.

“If I’m a seller, I should recognize this is a great time to be in the market. And if I’m a buyer, I better have my ducks all lined up and ready to go.”

For young buyers looking to get into the housing market, Rempel said make sure they speak with their financial institution and understand what is in their “war chest” before heading into the market.

“I know it’s frustrating because the dream of home ownership is very real with everybody, particularly young people. I get it, I certainly get it, but to put themselves in position simply because of the pressure of trying to compete in the market, you have to know what your limitations are,” Rempel said.

“Don’t get talked into going beyond where you should.”

He is hoping — which he said is a “reasonable hope” — that if inventory does return to a more stable level, the market will also return to traditional business practices, where offers can be negotiated and home inspections and financial conditions set.

Because right now, to compete, Rempel said buyers need as clean an offer as possible and anticipate they will pay over asking.

There has been less deliberate under market pricing — setting the price of a home lower than market value to allow competition to drive up the price — than seen in previous months in Niagara. But because the market goes through ebbs and flows, what happens next largely depends on supply and demand.

“We could find ourselves in another wave of significant activity and appreciation in price. It will be very, very interesting to see but I think time will tell,” Rempel said.

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More Bad News For China’s Sorry Real Estate Market, UBS Says – Forbes

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The hits keep on coming for China’s economy.

This time the news is the country’s already beleaguered real estate sector is set for more bad news.

“Property activities are likely to fall further in the coming quarters, and without policy easing, property sales and starts could fall 20% or more by 2022,” states a recent report from Swiss bank UBS.

The current and near-future prospects for China’s property sector is the result of spillover from the Evergrande debt debacle earlier this year, policy tightening by the Chinese government, and shifts in domestic demand, the report explains.

In turn, a real estate slowdown could hit the broader economy hard slowing growth to 4% or even lower. That’s a standstill from China’s perspective.

In other words, China’s economy is likely headed for a hard landing soon if its government doesn’t take swift action.

“Our baseline forecast is for gradual policy easing, but there is a substantial risk for policy easing being delayed or insufficient,” the UBS report states.

Policy easing would likely mean lower cost of borrowing for domestic Chinese companies and or easier loan standards.

Still, the news comes on the back of a sharp contraction in China’s steel production earlier this year, at the same time when the world’s other top steel producers were seeing growth in output.

It doesn’t augur well for China’s economy overall so investors in Chinese or Hong Kong stocks might want to be cautious for the immediate future.

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Research: Small-business real estate lenders for San Francisco North Bay – North Bay Business Journal

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The latest North Bay Business Journal research (Lists.NorthBayBusinessJournal.com) focuses on lenders certified to handle U.S. Small Business Administration program loans for real estate.

A list of SBA 504 lenders (certified development companies) is ranked by the value of debenture portion placed in Sonoma, Marin, Napa and Solano counites from Oct. 1, 2020, through Sept. 30, 2021. Other information provided includes the number of loans made in each county.

Detailed information from the list is available for purchase as a spreadsheet via the links above.

Want to have your company surveyed for this and other lists? Contact Research Director Michelle Fox at michelle.fox@busjrnl.com or call 707-526-8682.

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There's never been a better time to get into Canadian real estate – Financial Post

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2021 was the busiest year the Canadian housing market’s had, which means there’s a lot of work out there

Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.

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This article was created by StackCommerce. Postmedia may earn an affiliate commission from purchases made through our links on this page.

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Investing is a tried and true way to grow wealth, but where does somebody start? A natural place is with an industry that’s in a state of growth or poised to be. For those working in Canada, a great example of such an industry is housing. Which means that investors and aspiring business professionals alike should be brushing up on the latest and most effective real estate investment strategies .

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What’s so great about Canadian housing? 

Well, it’s a beautiful country, but that’s not the specific reason why investors are zeroing in on real estate here. This just happens to be the busiest year ever for the housing market in Canada. Featuring properties averaging a cost of $716,585 across the country, which is an 18 per cent increase compared to this time last year, according to CBC — this real estate industry has a lot going for it.

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What do I need to know about real estate investment? 

A lot! This industry is poised to continue its growth, but it’s also not something you can just jump blindly into. Familiarizing yourself with key real estate concepts like pre-investing, evaluating residential and commercial properties for risks, and learning other key lessons to know before making your first investment is obviously a smart move.

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Where do I find affordable and quality intel? 

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