The 8th Consecutive Period!

By: Forest Hill Real Estate

The 8th Consecutive Period!

Tags: #FHKEXPERIENCE #BANK #RATE #HOME #HOUSINGMARKET #TORONTOREALESTATE #MILTONREALESTATE

8th consecutive period, the Bank of Canada announced that they will be increasing the overnight rate. We are looking at an additional 25bps which will increase the Prime lending rate to 6.70%. Variable rate mortgages, credit cards, lines-of-credit, and other Prime based products are expected to increase by the same 0.25% as a result.   A bit of good news is that today’s announcement d...Read More

Marry the Home & Date the Rate!

By: Forest Hill Real Estate

Marry the Home & Date the Rate!

Tags: #FHKEXPERIENCE #bank #rate #home #HOUSINGMARKET #TORONTOREALESTATE #MILTONREALESTATE

It’s been a rollercoaster over the past few years in the world of real estate. The lack of inventory and bidding wars had buyers competing against each other to secure a house while the rates were at an all-time low. Now, with rising interest rates, we’re seeing a return to a healthy balanced market with more inventory available, more days on the market, and less competition, as some b...Read More

DECEMBER 2022 MARKET UPDATE

By: Forest Hill Real Estate

DECEMBER 2022 MARKET UPDATE

Tags: #FHKEXPERIENCE #MARKETUPDATE #DECEMBERHOUSINGMARKET #TORONTOREALESTATE #MILTONREALESTATE

 #marketsnapshot  December 2022 Market Update    AVERAGE SELLING PRICE for 2022 was $1,189,850 up 8.6% compared to $1,095,333 in 2021. This growth was based on a strong start to the year, in terms of year-over-year price growth. The pace of growth moderated from the spring of 2022 onwards. As per TRREB MLS® System Volume of sales – Down by 38.2 percent 75,140...Read More

Economic Insights from Dr. Sherry Cooper

By: Forest Hill Real Estate

Economic Insights from Dr. Sherry Cooper

Tags: #FHKEXPERIENCE #MARKETUPDATE #TORONTOREALESTATE

What a year this has been. In the face of red-hot inflation, the Bank of Canada raised its policy rate by a whopping 400 basis points to 4.25%. First to cool was the housing market, where buyers moved to the sidelines and mortgage rates surged. Home prices fell, especially in Toronto and Vancouver. The economy appears to have slowed, and inflation has fallen to 6.8%--down from 8.1% earlier this y...Read More

What You Need to Know about the Prohibition on the Purchase of Residential Property by Non-Canadians (Foreign Buyers Ban)

By: Forest Hill Real Estate

What You Need to Know about the Prohibition on the Purchase of Residential Property by Non-Canadians (Foreign Buyers Ban)

Tags: #FHKEXPERIENCE #MARKETUPDATE #TORONTOREALESTATE 

On June 23, 2022, Parliament passed the Prohibition on the purchase of residential property by non-Canadians Act. Coming into force January 1, 2023, this Act: Does not apply to Canadian citizens and permanent residents. Applies to non-Canadians directly or indirectly purchasing residential property in Canada for a period of two years. Applies to residential property, including detached houses...Read More

NOVEMBER 2022 MARKET UPDATE

By: Forest Hill Real Estate

NOVEMBER 2022 MARKET UPDATE

Tags: #FHKEXPERIENCE #MARKETUPDATE #novemberHOUSINGMARKET #TORONTOREALESTATE #MILTONREALESTATE

 #marketsnapshot  November 2022 the SUPPLY of home sales REMAINED LOW - down by 49% compared to November 2021 “Selling prices declined from the early year peak as market conditions became more balanced and homebuyers have sought to mitigate the impact of higher borrowing costs. With that being said, the marked downward price trend experienced in the spring has come to an end. Sel...Read More

BLACK FRIDAY STARTS NOW

By: Forest Hill Real Estate

BLACK FRIDAY STARTS NOW

Tags: #BLACKFRIDAY #DEALS #FHK #HOMEBUYER #HOMESELLER #REALESTATE 

Are you looking for a deal this weekend? Well here is the inside scoop. There are 950 homes for sale in Halton as of this morning & 226 have PC Status - Price Change/Reductions on them. That’s almost 25% of the homes on the market, not including the relist ones where there may be further reductions.  Well, I am always going to find a reason for you to buy a home, people are out th...Read More

OCTOBER 2022 MARKET UPDATE

By: Forest Hill Real Estate

OCTOBER 2022 MARKET UPDATE

Tags:

#FHKEXPERIENCE #MARKETUPDATE #octoberHOUSINGMARKET #TORONTOREALESTATE #MILTONREALESTATE

 #marketsnapshot   October 2022 Market Update    Home prices in the GTA have found support in recent months because price declines in the spring and summer mitigated the impact of higher borrowing costs on average monthly mortgage payments. The Bank of Canada’s most recent messaging suggests that they are reaching the end of their tightening cycle. Bond yields...Read More

Are we red carpet ready?

By: Forest Hill Real Estate

Are we red carpet ready?

Tags: #redcarpet #realestate #professional #Spooktacular

Yes, we are!  How do we confirm? Leave it to the professional. Do you remember an important occasion in your life when you hired people to do things that you could potentially do yourself anyway, such as cook, clean, slap on some makeup, lights, camera, action & be chauffeured around?  We are those people that roll out the red carpet for you in style. Once we have your undivided at...Read More

I am thankful for you! BUT you are going to thank me after reading this.

By: Forest Hill Real Estate

I am thankful for you! BUT you are going to thank me after reading this.

Tags: #RealEstate #investment #timetobuy #crea #mortgage #house

The housing market has so much negative & sensationalized media around it that buyers are overlooking the affordability facts & the fear of taking advantage of some great opportunities right in front of them.  Let’s recap Q1 – Q3 2022 CREA (Canadian Real Estate Association) says that inventory/ housing supply is at an all-time low. Why is that statement confusing to most ...Read More