By: Miguel Fernandez Morales LLB, MBA

REAL ESTATE MARKET JULY 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

Higher borrowing costs continued to impact home sales in June 2022. Sales totalled 6,474 – down by 41 per cent compared to last year’s strong result. The number of transactions was also down compared to May 2022, but this is often the case due to the seasonal nature of the market. The average selling price, at $1,146,254, remained 5.3 per cent above the June 2021 level, but continued ...Read More

By: Miguel Fernandez Morales LLB, MBA

Staging is now more important than ever

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

Staging a home is more important than ever. Not only does it highlight the best features of your property, but it also allows buyers to imagine what it would be like for them to live in that same space. People have immediate access to HGTV, Instagram, and Pinterest, where they get to see beautiful, perfectly spruced homes. Buyers have high expectations, and staging your home can help meet them. St...Read More

By: Miguel Fernandez Morales LLB, MBA

Prices are softening. But for how long and by how much?

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

No one can tell where the ball might stop. Let’s start from the beginning of this situation. Average home prices went up almost 28% in 2020 and 30% in 2021 respectively. There are many reasons for this. Most of it has to do with government policies (quantitative easing, low interest environment and loose handling of appraisals etc.) We have talked about this a few times and have explained...Read More

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