By: Miguel Fernandez Morales LLB, MBA

Real Estate Market January 2023

Tags: MIGUEL FERNANDEZ, MARKET INFORMATION, TREB MARKETWATCH REAL ESTATE ADVISORS, YOUR FAMILY REALTOR, SPANISH SPEAKING AGENT IN TORONTO, CUBAN AGENT IN TORONTO, AGENTE DE BIENES RAICES CUBANO EN TORONTO Y EL GTA, BIENES RAICES, CASAS TORONTO, HONEST REALTOR, REAL ESTATE ADVISORS, CUBA

The Greater Toronto Area (GTA) housing market experienced a marked adjustment in 2022 compared to record levels in 2021. Existing affordability issues brought about by a lack of housing supply were exacerbated by sustained interest rate hikes by the Bank of Canada. "Following a very strong start to the year, home sales trended lower in the spring and summer of 2022, as aggressive Bank of Can...Read More

By: Miguel Fernandez Morales LLB, MBA

Bank of Canada raises the rate again

Tags: MIGUEL FERNANDEZ, MARKET INFORMATION, TREB MARKETWATCH REAL ESTATE ADVISORS, YOUR FAMILY REALTOR, SPANISH SPEAKING AGENT IN TORONTO, CUBAN AGENT IN TORONTO, AGENTE DE BIENES RAICES CUBANO EN TORONTO Y EL GTA, BIENES RAICES, CASAS TORONTO, HONEST REALTOR, REAL ESTATE ADVISORS, CUBA

The Bank of Canada raised its key interest rate by 0.25% in its first rate announcement of the year, increasing the cost of borrowing for the 8th consecutive time.   The Bank stated that economic growth was stronger than expected and our economy is still in excess demand. Inflation declined to 6.3% in December, however despite this progress, Canadians are still feeling the effects of hig...Read More

By: Miguel Fernandez Morales LLB, MBA

Will the market bounce back in 2023?

Tags: MIGUEL FERNANDEZ, MARKET INFORMATION, TREB MARKETWATCH REAL ESTATE ADVISORS, YOUR FAMILY REALTOR, SPANISH SPEAKING AGENT IN TORONTO, CUBAN AGENT IN TORONTO, AGENTE DE BIENES RAICES CUBANO EN TORONTO Y EL GTA, BIENES RAICES, CASAS TORONTO, HONEST REALTOR, REAL ESTATE ADVISORS, CUBA

  The Canadian real estate market saw its fair share of highs and lows in 2022. With the new year right around the corner, what can we anticipate in 2023?  Lauren Haw, CEO of Zoocasa described the theme of 2023 as being “all about timing”. Here are five trends that we have our eye on:  1. Rate Increases Will Catch Up to Homeowners In our 2022 market predictions, ...Read More

By: Miguel Fernandez Morales LLB, MBA

Bank of Canada increasse policy interest rate by 50 basis points

Tags: MIGUEL FERNANDEZ, MARKET INFORMATION, TREB MARKETWATCH REAL ESTATE ADVISORS, YOUR FAMILY REALTOR, SPANISH SPEAKING AGENT IN TORONTO, CUBAN AGENT IN TORONTO, AGENTE DE BIENES RAICES CUBANO EN TORONTO Y EL GTA, BIENES RAICES, CASAS TORONTO, HONEST REALTOR, REAL ESTATE ADVISORS, CUBA

The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening. Inflation around the world remains high and broadly based. Global economic growth is slowing, although it is proving more resilient than was expected at the time of the October&nb...Read More

By: Miguel Fernandez Morales LLB, MBA

Real Estate Market December 2022

Tags: MIGUEL FERNANDEZ, MARKET INFORMATION, TREB MARKETWATCH REAL ESTATE ADVISORS, YOUR FAMILY REALTOR, SPANISH SPEAKING AGENT IN TORONTO, CUBAN AGENT IN TORONTO, AGENTE DE BIENES RAICES CUBANO EN TORONTO Y EL GTA, BIENES RAICES, CASAS TORONTO, HONEST REALTOR, REAL ESTATE ADVISORS, CUBA

Homeownership market activity in November continued to be influenced by the impact of higher borrowing costs on affordability. Sales were down markedly compared to the same period last year, following the trend that unfolded since the commencement of interest rate hikes in the spring. New listings were also down substantially from last year, and at a very low level historically. The fact that the ...Read More

By: Miguel Fernandez Morales LLB, MBA

Our Rent to Own Program

Tags: MIGUEL FERNANDEZ, MARKET INFORMATION, TREB MARKETWATCH REAL ESTATE ADVISORS, YOUR FAMILY REALTOR, SPANISH SPEAKING AGENT IN TORONTO, CUBAN AGENT IN TORONTO, AGENTE DE BIENES RAICES CUBANO EN TORONTO Y EL GTA, BIENES RAICES, CASAS TORONTO, HONEST REALTOR, REAL ESTATE ADVISORS, CUBA

Looking for a great Rent-to-Own Program? We can put you in your own home today!! We know life sometimes delivers challenges that can be hard to rebound from on your own. It could be a divorce, bankruptcy, consumer propospal, loss of job, work place injury, new to the country, self-employed or some credit related challenges that have you behind the proverbial “eight ball”? The...Read More

By: Miguel Fernandez Morales LLB, MBA

Real Estate Market November 2022

Tags: MIGUEL FERNANDEZ, MARKET INFORMATION, TREB MARKETWATCH REAL ESTATE ADVISORS, YOUR FAMILY REALTOR, SPANISH SPEAKING AGENT IN TORONTO, CUBAN AGENT IN TORONTO, AGENTE DE BIENES RAICES CUBANO EN TORONTO Y EL GTA, BIENES RAICES, CASAS TORONTO, HONEST REALTOR, REAL ESTATE ADVISORS, CUBA

Despite the continued housing market transition to a higher borrowing cost environment, the average selling price in the Greater Toronto Area (GTA) found some support near $1.1 million since the late summer. GTA home sales continued to adjust to substantially higher interest rates in October 2022, both on an annual and monthly basis. However, new listings are also down year-over-year and month-ove...Read More

By: Miguel Fernandez Morales LLB, MBA

53% of Canadians are concerned about higher mortgage payments

Tags: MIGUEL FERNANDEZ, MARKET INFORMATION, TREB MARKETWATCH REAL ESTATE ADVISORS, YOUR FAMILY REALTOR, SPANISH SPEAKING AGENT IN TORONTO, CUBAN AGENT IN TORONTO, AGENTE DE BIENES RAICES CUBANO EN TORONTO Y EL GTA, BIENES RAICES, CASAS TORONTO, HONEST REALTOR, REAL ESTATE ADVISORS, CUBA

A new survey has found that 53% of Canadian mortgage borrowers are concerned about the prospect of higher monthly payments at renewal time. However, most respondents (52%) also said they have a plan in place to help deal with any potential payment shock, the RATESDOTCA and BNN Bloomberg survey found. For those who said they have a plan to deal with higher payments, these are the top actions: ...Read More

By: Miguel Fernandez Morales LLB, MBA

REAL ESTATE MARKET OCTOBER 2022

Tags: TAGS: MIGUEL FERNANDEZ, MARKET INFORMATION, TREB MARKETWATCH REAL ESTATE ADVISORS, YOUR FAMILY REALTOR, SPANISH SPEAKING AGENT IN TORONTO, CUBAN AGENT IN TORONTO, AGENTE DE BIENES RAICES CUBANO EN TORONTO Y EL GTA, BIENES RAICES, CASAS TORONTO, HONEST REALTOR, REAL ESTATE ADVISORS, CUBA

The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs in September 2022. Sales for the month reached 5,038, but were down by 44.1 per cent compared to September 2021. New listings were also down on a year-over-year basis by 16.7 per cent to 11,237. This was the lowest number of new listings reported for the month of September since 2002. This is especiall...Read More

By: Miguel Fernandez Morales LLB, MBA

REAL ESTATE MARKET SEPTEMBER 2022

Tags: TAGS: MIGUEL FERNANDEZ, MARKET INFORMATION, TREB MARKETWATCH REAL ESTATE ADVISORS, YOUR FAMILY REALTOR, SPANISH SPEAKING AGENT IN TORONTO, CUBAN AGENT IN TORONTO, AGENTE DE BIENES RAICES CUBANO EN TORONTO Y EL GTA, BIENES RAICES, CASAS TORONTO, HONEST REALTOR, REAL ESTATE ADVISORS, CUBA

TORONTO, ONTARIO, September 2, 2022 3 There were 5,627 home sales reported through the Toronto Regional Real Estate Board9s (TRREB) MLS® System in August 2022, representing a year-over-year dip of 34.2 per cent 3 a lesser annual rate of decline compared to the previous four months. The August sales result also represented a month-over-month increase compared to July. Sales represented a higher...Read More