RSS

Category Archives: waterloo

Real Estate Forecast for 2018: What to Expect!

Real Estate Forecast for 2018: What to Expect!

<!– –> <!– –>

Real Estate Forecast for 2018: What to Expect

As we head into a new year, the most common question we receive is, “What’s the outlook for GTA’s real estate in 2018?”

 

It’s not just potential buyers and sellers who care; current homeowners also want reassurance about the value of their investment. No one knows exactly what 2018 will bring, but we’ve outlined expert predictions on where the market is headed and how government interventions are expected to impact the Canadian housing market in the year ahead.

HOUSING PRICES WILL REMAIN HIGH IN URBAN CENTRES

Although the Toronto real estate market did experience a slowdown in 2017, housing affordability will remain a major issue in both Toronto and Vancouver in 2018. According to the Royal Bank of Canada’s most recent Housing Trends and Affordability Report, as of Q2 2017 it cost more than 75 percent (Toronto) and 80 percent (Vancouver) of median household income to cover the average cost of owning a home.1

In an effort to stabilize prices, both the Ontario and British Columbia governments enacted a 15 percent tax on foreign investments in housing. However, according to the PricewaterhouseCoopers report on Emerging Trends in Real Estate: Canada and the United States 2018, “Industry players are skeptical that recent tax moves … to curtail foreign investment will have a long term cooling impact on housing affordability in Toronto and Vancouver.”2

In its Canadian Regional Housing Outlook, TD Economics predicts ”The decline in sales activity in both Vancouver and Toronto has helped to redistribute the balance of power from a pure seller’s market, back towards buyers, as evidenced by the sales-to-listing ratios. But, first-time homebuyers sitting on the sidelines waiting for higher interest rates to trigger a market crash may be holding their breath for a while. Prices are likely to only reset back to levels that existed prior to a year of exorbitant gains.”3

The high cost of living has forced a growing number of millennials to seek alternatives to traditional housing. The 2016 census found 47.4 percent of young adults in Toronto and 38.6 percent in Vancouver live with a parent. PricewaterhouseCoopers predicts a rise in multi-generational and multi-family homes, a move towards larger condominiums to suit growing families, and a flight from urban cores as new public transit projects make commuting more feasible.2

What does it mean for you? If you’re a current homeowner, you can expect your investment to hold its value and continue to appreciate over the long term. And if you’re considering selling this year, contact us to request a free Comparative Market Analysis to find out how much you can expect your home to sell for under current market conditions.

If you’re a potential buyer who has been waiting for real estate prices to drop, don’t expect a fallout any time soon. Governmental bodies have taken steps to slow down skyrocketing prices, which has helped to balance the market. Now is a great time to buy. And if traditional housing options don’t fit your budget, we can help you find alternatives to meet your needs.

GOVERNMENT INTERVENTIONS WILL HELP TO STABILIZE THE MARKET

Skyrocketing real estate prices have caused Canadians to take on a growing amount of debt. The federal Parliamentary Budget Office (PBO) reports that the average household indebtedness is up to 174 percent of disposable income, and they predict it will reach 180 percent by the end of 2018. Coupled with rising interest rates, the share of income that will go towards debt payments is expected to reach historic proportions.4

Regulators at the Office of the Superintendent of Financial Institutions (OSFI) have attempted to curb the potential fallout with interventions, the latest of which went into effect on January 1. These new regulations raise the requirements for mortgage borrowers with down payments of 20 percent or more. They are now required to qualify for a mortgage at an interest rate two percentage points higher than their current rate to ensure they can manage payments when interest rates do inevitably rise.

A similar “stress test” was enacted in 2016 for borrowers who put down less than 20 percent, but that regulation impacted a much smaller percentage of buyers.

According to Jeremy Rudin, the head of OSFI, “We clearly see the potential risks caused by high household indebtedness across Canada, and by high real estate prices in some markets. We are not waiting to see those risks crystallize in rising arrears and defaults before we act.”5

All federally regulated financial institutions will be obligated to utilize these requirements for both new mortgages and mortgage renewal applications of borrowers applying to switch lenders. It is not mandatory to apply the test at mortgage renewal for existing borrowers. Since credit unions are regulated provincially, they are not required to follow the new OSFI rules, although some may choose to out of prudency.

What does it mean for you? With new rules in effect, if you’re a buyer, your purchasing power may be impacted. If you’re concerned you may not be able to meet these requirements, securing your mortgage through a credit union may be an option. We are following this issue closely. Give us a call so we can discuss how these new rules will affect your home search.

If you’re considering selling your home this year, these regulations could alter the type of buyer who will be willing and able to purchase your home. We have expertise in this area and know how to market your home to a changing demographic.

5 YEAR MORTGAGES WILL MAKE A COMEBACK

Expect interest rates to rise in 2018. Bank of Canada has indicated that borrowers should expect to see rate increases this year … and notably, nearly half of Canadian mortgage holders are set to renew their mortgages in the next 12 months. Combined with the new, more stringent “stress test” requirements, a greater number of homeowners will be opting for five-year-fixed rate mortgages over the historically popular variable rate mortgages.6

According to LowerRates.ca, “Since January 2014, 56% of Canadian borrowers who applied for a mortgage through LowestRates.ca have gone variable, compared with 43% of those who got a five-year fixed. But this past August, there was a shift, where the five-year-fixed rate mortgage saw a sharp increase in applicants, with 59% of users on the LowestRates.ca site opting for this option versus only 39% opting for the variable mortgage.”7

What does it mean for you? If you’re in the market to buy, act now. Rising interest rates will decrease your purchasing power, so act quickly before interest rates go up. Give us a call today to get your home search started.

And if you’re a current homeowner who is set to renew your mortgage, you may want to consider locking in a five-year-fixed rate. Contact us if you would like assistance navigating your options.

 

 

2018 ACTION PLAN

If you plan to BUY this year:

 

1.    Get pre-approved for a mortgage. If you plan to finance part of your home purchase, getting pre-approved for a mortgage will give you a jump-start on the paperwork and provide an advantage over other buyers in a competitive market. The added bonus: you will find out how much you can afford to borrow and budget accordingly.

2.    Create your wish list. How many bedrooms and bathrooms do you need? How far are you willing to commute to work? What’s most important to you in a home? We can set up a customized search that meets your criteria to help you find the perfect home for you.

3.    Come to our office. The buying process can be tricky. We’d love to guide you through it. We can help you find a home that fits your needs and budget, all at no cost to you. Give us a call to schedule an appointment today!

 

If you plan to SELL this year:

 

1.    Call us for a FREE Comparative Market Analysis. A CMA not only gives you the current market value of your home, it’ll also show how your home compares to others in the area. This will help us determine which repairs and upgrades may be required to get top dollar for your property … and it will help us price your home correctly once you’re ready to list.

2.    Prep your home for the market. Most buyers want a home they can move into right away, without having to make extensive repairs and upgrades. We can help you determine which ones are worth the time and expense to deliver maximum results.

3.    Start decluttering. Help your buyers see themselves in your home by packing up personal items and things you don’t use regularly and storing them in an attic or storage locker. This will make your home appear larger, make it easier to stage … and get you one step closer to moving when the time comes!

 

WE’RE HERE TO HELP

 

While national real estate numbers and predictions can provide a “big-picture” outlook for the year, real estate is local. And as local market experts, we can guide you through the ins and outs of our market, and the local issues that are likely to drive home values in your particular neighbourhood. If you have specific questions, or would like more information about where we see real estate headed in our area, please give us a call! We’d love to discuss how issues here at home are likely to impact your desire to buy or a sell a home this year. Please visit our website SnapHomes.ca for latest MLS listing and pre-construction Homes & Condos.

Can’t find what you are looking for? Contact us for Exclusive list of Pre construction Homes and Condos and our pocket listings for Land!
Sources:

1.     Royal Bank of Canada’s Housing Trends and Affordability Report –
http://www.rbc.com/newsroom/_assets-custom/pdf/20170929-ha.pdf

2.     PricewaterhouseCoopers Emerging Trends in Real Estate 2018  –
https://www.pwc.com/ca/en/real-estate/assets/Real_Estate_ETRE_2018_PDF.pdf

3.     TD Economics Canadian Regional Housing Outlook –
https://economics.td.com/canadian-regional-housing-outlook-aug-2017

4.     Office of the Parliamentary Budget Officer –
http://www.pbo-dpb.gc.ca/en/blog/news/HH_Vulnerability

5.     Financial Post
http://business.financialpost.com/personal-finance/stricter-osfi-rules-on-mortgage-lending-will-do-more-harm-than-good-fraser-institute

6.     Bank of Canada Financial System Review November 2018  –
https://www.bankofcanada.ca/wp-content/uploads/2017/11/fsr-november2017.pdf

7.     Maclean’s  –
http://www.macleans.ca/economy/money-economy/canadians-rushing-to-lock-down-five-year-fixed-rate-mortgages/

 

Tags: , , , , , , , , , , , , , ,

District Condos

District Condos

District Condos in Waterloo:
Most of sophisticated investors are looking to buy a Turnkey investment, one that they don’t have to worry about the maintenance and up keep of the property or dealing with tenants. They are interested in growing their portfolio and enjoy their FREE time in fun places!!

This slideshow requires JavaScript.


Here is why we believe the District Condo is an excellent investments for you:

  • Over $30,000 in incentives
  • $10,000 off purchase price
  • $10,000 off parking
  • 2 Years rental Guarantee
  • 2 Years FREE property management ( you enjoy your free time)
  • Fully furnished luxury suites (Valued at $8,000)
  • Turnkey Real Estate investment with high ROI
  • No Assignment FEE
  • Home of these companies

District condo is an incredible Student Housing Investment in Waterloo with 40.5% ROI – Steps to Laurier University & University of Waterloo.
Download Proforma Financial proforma.

Waterloo is also known as silicon valley north with over 1000 technology firms including Canada’s largest software, hardware, e-learning and satellite companies.

ONE DAY INSIDER SALES EVENT
SATURDAY JANUARY 23RD

12pm – Registration
12:30pm – Presentation: Speech from Michael Wekerle of Dragon’s Den. Find out why he invested over $50 million in Waterloo real estate.
1pm – inside sales starts: Be first to invest in District Condos and receive Amazing incentives.

Download Brochure
                                        Register Now to get VIP First Access.

For more information, please visit www.SnapHomes.ca

 
Comments Off on District Condos

Posted by on January 20, 2016 in Condominiums, Pre-construction, University of Waterloo, waterloo

 

Tags: , , , , , , , ,

Sage VI Condos

VIP RegistrationQR form

After successfully launched and rapidly sold out of 4 amazing Sage projects in Waterloo. They continue to offer a complete and comprehensive “hands-off” program to make this smart condo investment easy for new and seasoned investors alike. We believe that Sage Condos, located in the centre of Waterloo’s growth district, fueled by the expanding universities, is a stable and secure environment that will be a long term benefit to any investment portfolio. Sage 6 Condos is a new condo/apartment project currently in preconstruction in Waterloo. The project is scheduled for completion in 2016.  Sales for available condos/apartments start at $199,900. The project has a total of 12 Storeys.

Every Investor’s dream. It comes in Full package as follows:

  • 100% Lease Guarantee for one Year VIP In

  • Full Service Property management for first year

  • FREE furniture package to finish the entire suite in a cohesive contemporary décor theme

These incentives are for a very limited time only. Register now to qualify while they are still available

This slideshow requires JavaScript.

Download the Floor Plan

Located between the University of Waterloo and Wilfrid Laurier University campuses, Sage 6 presents a unique investment opportunity with its proximity to two major Canadian universities and to Waterloo’s King Street Corridor which offers a variety of local amenities, shopping and entertainment.

Waterloo is Canada’s fastest city. In 2007, Waterloo was named the world’s “Top Intelligent Community” by the Intelligent Community Forum, which cited the region’s 334 technology companies (now listed as more than 450), its post-secondary institutions (the University of Waterloo, Wilfrid Laurier University, and Conestoga College), the co-operation between business and academia, and the high levels of philanthropy and local reinvestment.

In-suite features:

• Large bedrooms
• High loft ceilings
• Oversized windows
Ensuite bathrooms (select suites as per plan)
• Large walkout balcony/terrace with sliding glass doors off living area as per plan
• Sliding partitions in dens
• Cable & telephone outlets in living rooms, bedrooms and dens
• Pre-wired high speed internet access
• Controlled entry for bedrooms
• Smoke and carbon monoxide detectors as per code

Finishes and fixtures:
• Select between one of two designer finish/colour schemes
• Natural exposed concrete ceilings
Laminate flooring throughout – living/dining area, kitchen & bedrooms
• Granite kitchen countertop & island or bar as per plan
• Contemporary, extra tall, melamine slab cabinets with stainless steel cabinet pulls in kitchen
Glass tile kitchen backsplash
Stainless steel refrigerator, slide in range with wall mounted microwave, ducted exhaust, and built-in dishwasher
• Undermount, double-basin stainless steel sink with chrome pullout/spray faucet
• Exposed front load stainless steel washer & dryer
Porcelain tile on bathroom floor
• Glass shower door with chrome trim and acrylic shower enclosure
• Custom melamine vanity with granite top, undermount sink and chrome faucet, medicine cabinet above
• Contemporary linear light in kitchen, bathroom vanity light and surface mounted fixtures in bedrooms
• Designer paint colours in living area/ kitchen, bedrooms & bathrooms – eggshell finish
• Contemporary profile, painted 4” baseboards with matching door casings
• Solid core, paint grade suite entry door with contemporary satin chrome lever & privacy viewer
• Solid core, paint grade interior doors with contemporary satin chrome lever
• 5’-0” closets with paint grade sliding doors and plastic coated wire shelving as per plan
• Entry closet with mirrored sliding doors (select suites as per plan)

Important Message: In order for an investor to take advantage of Buying Pre-construction Condos is to buy before it is open to the public. Prior to opening day of a new condo sales office to the general public, prices may have gone up. This will be an opportunity for you to invest in a unit at the lowest price possible before its open to the public. You can be one of the first purchasers to be invited to Platinum VIP Preview Sales Event long before the presentation centre opens to the public. This gives you an opportunity to have the first access to inventory, best pick at unit levels, floor plans, lowest price not available to the public and the ability to take advantage of Platinum VIP Condo Incentives the builder may offer.  This is a perfect opportunity at the Platinum VIP Price.

For more information and to register now for the  VIP Preview Sales Event please Register, we can only bring limited number of buyers into the Platinum VIP Sales Event, so pre-register now for priority access:

 

 

Tags: , , , , , , , , , , ,

Condo Prices Grow at Moderate Pace in Q2

Condo Prices Grow at Moderate Pace in Q2

July 18, 2012Greater Toronto REALTORS® reported 6,435 condominium apartment transactions during the second quarter of 2012 – down by 2.6 per cent compared to 6,609 transactions reported in the second quarter of 2011. New listings for condominium apartments were up substantially on a year-over-year basis, climbing by 19 per cent in comparison to 2011.

“The condominium apartment market has been the best-supplied market segment in the GTA this year. Many condominium projects have completed over the past year and this has resulted in a substantial increase in listings and ultimately more choice for buyers,” said Toronto Real Estate Board President Ann Hannah. “The greater degree of choice in the condo market translated into a moderate rate of price growth compared to what was experienced in the low-rise market segment.”

The average price for second quarter condominium apartment sales was $342,212, representing a 3.2 per cent increase over the same period in 2011.

“Sellers seemed to be well-aware of condo market conditions in the second quarter. On average, units were priced in line with buyer expectations, with apartments selling for 98 per cent of the asking price in less than a month’s time,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. 6,435 6,609 Second Quarter 2012 Second Quarter 2011

 

Tags: , , , , , , , , , , , , ,

101 Erskine

Tridel now introduces 101 Erskine. This smartly tailored glass condo residence with a contrasting tonal profile is strategically tucked away, mere steps from the energy of midtown Yonge and Eglinton in Toronto. Yet this venerable neighbourhood  Walkscore is also just moments from the subway, prestigious shops and superb dining.

This slideshow requires JavaScript.

101 Erskine’s modernist sensibilities are echoed in its clean linear exterior design and refined interiors: charcoal grey, white and clear glass, copper clad front entry, stunning lobby, rooftop terrace with infinity pool and outdoor fireplace lounge, sublime entertainment spaces with private courtyard, alfresco dining lounge, sleek fitness amenities, even a linear park walkway creating a link between Broadway and Erskine.

Elegant Studio, 1 bedroom, 1 bedroom plus den, 2 bedroom and 2 bedroom plus den suites with 9′ ceilings and 10 signature townhomes feature distinctively modern styling and finishes one would naturally expect from this coveted address. 101 Erskine. Anything but ordinary.

101 Erskine will be Rising to 32 storeys high and will accamodate 421 Suites and 10 Townhomes. Estimated completion Summar  2015.

101 Erskine Condos follows the amazing success of The Republic, which launched in 2007. Only four days after phase one of the community was launched, at 25 Broadway Avenue, phase two was launched at 70 Roehampton.

101 Erskine Condominiums is just one block north of Broadway Avenue and the brand-new high school. There will be a park walkway between the two avenues, adding to the community feel of the neighbourhood. 101 Erskine is also a “walker’s paradise” with a Walk Score of 95 out of 100, meaning that almost everything you could need — groceries, restaurants, parks, banking and more — is within walking distance.

Amenities: Fitness centre, party room, billiards lounge, fireplace lounge, concierge, yoga studio, theatre, sauna, infinity pool.

101 Erskine. Celebrating the richness of life.

By indicating your interest in 101 Erskine Condos at this early stage, you’ll be among the first to be invited to view Price List and Floor Plans and take advantage of coming in to our member circle.

 

Tags: , , , , , , , , , , , , , , , ,

Victoria Common

 

 

 

Victoria Common is located in downtown Kitchener in Technology Triangle, near King Street, minutes from downtown and Farmer’s Market. It is walking distance to GO Transit and new LRT. Close to University of Waterloo, University of Laurier, and colleges. Victoria Common will be a brand new community of 5 condominiums and townhomes. Phase 1 is currently under way. 15 acre community will be built. As an investor this is time to invest in this project. Buy low and by the time the other 4 condominiums are built the price will go up. Waterloo where all the Tech joints are like RIMS, GOOGLE and other strong employers like Toyota, Manulife..and many more. This building is using green energy (Geothermal, Solar Panel). The price starts from 177,900 including one under ground parking.

This slideshow requires JavaScript.

Is your kid planning to attend a Kitchener-Waterloo university or college? This could be your best investment ever.

 

OCCUPANCY: 2014 Spring

Special One day Sale on June 21st. Please RVSP, ASAP as there are only 77 units in total. The first 40 buyers will get gauranteed rental agreement from the builder for one year. The rent will cover your mortgage payment, maintenance, and taxes. The exact amount will be announced on June 21st 2012.

 

 

GENERAL FEATURES

 

Laminate floor throughout unit, polished granite countertops, option for European style kitchen cabinets. Stainless steel appliances included and range hood. One parking space and private balcony per unit. Party rooms, fitness studio, yoga area, outdoor bbq and lounge.

DEPOSIT STRUCTURE

$3500 upon signing of Agreement of Purchase and Sale;

5% 30 days after Date of Agreement,

5% 60 days after Date of Agreement,

5% 120 days after Date of Agreement,

5% 270 days after Date of Agreement.

 

 

Tags: , , , , , , , , , , , , , ,

 
%d bloggers like this: