By: Miguel Fernandez Morales LLB, MBA

REAL ESTATE MARKET APRIL 2022, PRICES ARE GOING DOWN

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, with the number of transactions down on a monthly and annual basis. As has been the case with previous rate tightening cycles, some home buyers have moved to the sidelines to determine how they will reposition themselves in the marketplace given the higher rate environment and related impact on afford...Read More

By: Miguel Fernandez Morales LLB, MBA

House Prices DIP in GTA

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 latest March 2022 numbers from the Toronto Regional Real Estate Board (TRREB) are showing that while the prices are still increasing year over year, there was a slight dip from February to March, suggesting that there could be a shift coming from the consistent rising prices we’ve seen over the last two years. New listings are similarly still down from last year but again are seeing an ...Read More

By: Miguel Fernandez Morales LLB, MBA

Real Estate Market April 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

There were almost 11,000 Greater Toronto Area (GTA) home sales reported in March 2022, capping off the third-best March and second-best first quarter on record. Tight market conditions continued to support a double-digit annual pace of price growth, with an average selling price of $1.3 million. The average selling price dipped slightly month-over-month, bucking the regular seasonal trend. &ldquo...Read More

By: Miguel Fernandez Morales LLB, MBA

Ontario Expands the Non-Resident Speculation Tax

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 Government of Ontario has announced amendments to the Non-Resident Speculation Tax (NRST). As of March 30, 2022, the NRST rate will be increased from 15% to 20% and will be expanded to all regions of the province. The NRST applies to the transfer of “designed land”, which is considered land that contains at least one and no more than six single family residence...Read More

By: Miguel Fernandez Morales LLB, MBA

Real Estate Market February 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

February home sales were down compared to the all-time record in 2021, but represented the second-best result for the month of February in history. New listings dropped, but by a marginally lesser annual rate than sales, pointing to a modest move to a slightly more balanced market. Competition between buyers, however, remained tight enough to support double-digit price growth year-over-year. Grea...Read More

By: Miguel Fernandez Morales LLB, MBA

Should I Lock in my Mortgage Rate?

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

By: Brent Richardson   With an impending Bank of Canada rate increase occurring on March 2, 2022 many are wondering if they should be locking in a mortgage rate or making a change to their mortgage. With the variable rate, the inevitability of higher rates was always part of the plan. But the questions now are, what will higher rates look like and how should we best prepare? We will see ...Read More

By: Miguel Fernandez Morales LLB, MBA

I am sleeping with my mortgage broker, and it is great!!

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

By Miguel Fernandez The role of a successful real estate agent is linked to a very good mortgage agent able to get the financing for the clients to buy a property. In my almost 15 years as a real estate professional, I have been working with several mortgage agents. I have stopped working with like 10 of them due to their lack of customer service toward my clients or inability to meet the standar...Read More

By: Miguel Fernandez Morales LLB, MBA

Real Estate Market January 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

 Demand for ownership housing remained very strong from a historic perspective in January 2022. At the same time, listings remained in short supply, resulting in tight market conditions and very strong year-over-year price growth. There were 5,636 sales reported through the TRREB MLS® System in January 2022 – down by 18.2 per cent compared to 6,888 sales in January 2021. While sales...Read More

By: Miguel Fernandez Morales LLB, MBA

Real Estate Market December 2021

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, January 6, 2022 – A record 121,712 sales were reported through TRREB’s MLS® System in 2021 – up 7.7 per cent from the previous 2016 high of 113,040 and up 28 per cent compared to 2020. Record demand last year was up against a constrained supply of listings, with new listings up by 6.2 per cent – a lesser annual rate than sales. The result was extremel...Read More

By: Miguel Fernandez Morales LLB, MBA

Real Estate Market November 2021

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

  Home sales in the Greater Toronto Area (GTA) reached the second-highest level on record for the month of October. However, the inventory of homes for sale did not keep up with demand. The number of new listings was down by approximately one-third compared to October 2020. Market conditions tightened across all major home types compared to last year, and the annual rate of average price gro...Read More