Connect with us

Real eState

Record-setting Huron-Perth real estate market ends with a flourish in 2020 – The Beacon Herald

Published

 on


Article content continued

“If you want to sell your house, there’s never been a greater time price-wise,” Dawson said. “There’s challenges to do that in a safe way, but we have all those procedures in place.”

The benchmark price for single-family homes last month was $420,700, a gain of 21.3 per cent on a year-over-year basis. By comparison, the benchmark apartment price was $383,500, down 4.2 per cent from year-ago levels.

The dollar value of all home sales in December 2020 was $51.3 million, an increase of 16.7 per cent from the same month in 2019. This was a new record for the month of December.

The MLS Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS HPI composite benchmark price was $419,400, rising 20.8 per cent in December 2020 compared to December 2019.

There were 79 new residential listings in December 2020, a decrease of 14.1 per cent from the end of December 2019. Active residential listings numbered 106 units at the end of December, declining significantly by 63.9 per cent from the end of December 2019. It has been more than three decades since active listings have been at the current level.

“We’re in a pandemic, and during lockdown if people don’t have to sell, they’re not selling, and if you’re trying to buy a house right now, it’s so difficult because you have to have somewhere you’re going,” Dawson said. “It’s creating a lot of different aspects.”

cosmith@postmedia.com

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