Rahim Charania

10/15/2024

Canadian home sales rose modestly in September as real estate association predicts 2025 rebound.

After another month of lackluster real estate sales in September, Canada’s national real estate association predicts 2025 is the year when buyers will come back to the market.

The Bank of Canada is expected to continue cutting its benchmark interest rate, which will make it easier for homebuyers to qualify for a mortgage. Although the central bank reduced interest rates in June, July and September, the cost of a mortgage is still relatively expensive and many prospective buyers can’t handle the monthly loan payments.

CREA predicts there will be 499,800 home purchases next year. That would be 6.6 per cent higher than this year but still below the 10-year annual sales average. In addition to the lower borrowing costs, the federal government’s easier mortgage rules are due to go into effect mid-December.

The new rules will allow first-time homebuyers to stretch out their mortgage payments over a longer period of time and permit buyers to make smaller down payments on homes that cost up to $1.5-million.

With more buyers expected to enter the market, that will increase competition for homes and lead to higher prices. CREA forecasts that the average home price across the country will reach $713,375 next year. That would be 4.4 per cent higher than this year.
Last month, the average home price for the country was $669,630. That was 3 per cent higher than August and 2.1 per cent above September of last year.

The home price index, which adjusts for the highest priced properties and is the industry’s preferred measure, was $718,200 last month. That was unchanged from August and 3.6 per cent lower than September 2023.

The relative stability in prices suggests that home sellers are not reducing their asking prices despite the lack of interest from buyers.
The volume of sales rose 1.9 per cent from August to September though remained below the 10-year average. The slowdown in sales started shortly after the central bank started raising interest rates in March of 2022 and has not really picked up even though the Bank of Canada is now cutting borrowing costs.

Meanwhile, more homeowners are putting their properties up for sale. New listings rose 4.9 per cent from August to September with a large increase in the Toronto region, the country’s largest real estate market.

“This is a good time to buy with many options available. Negotiating a stretched closing may be a good option for Buyers to secure a good home and wait for the interest rates to come down. “

The Globe and Mail

05/26/2022

A home on Baron Crescent in the highly desirable area of Kilworth seldomly comes for sale! 2 + 2 bedroom, 4 bath custom-built, private access to your staycation outdoor oasis, 2.5 car garage. This gem is truly one of a kind.

05/25/2022

EXCLUSIVE LISTING - INCOME PROPERTY - $1,300,000 with 11% cap rate. (1.75% to Buyer Agent)

Income Property. Community Homes for Opportunity (CHO). Great location in a desirable, growing and highly sought-after community (disclosed upon signing Confidentiality Agreement), steps to shops and public transportation. Always 100% occupied, 18 resident-home.

COMPLETE TURN KEY OPERATION. Income is TAX FREE (with exemptions) if owner/operator and primary residence.

BUYER must have some experience in working with people who experience mental health illness.

Rahim Charania, Broker
519-859-0133

04/12/2022

EXCLUSIVE! Aldersbrook Road. 4 level back-split located just off Sarnia between Hyde Park and Wonderland in the highly desirable White Hills Neighbourhood. 3 bedroom, 2 baths, dining, living, recreation room and plenty of storage. Bright kitchen with breakfast bar leading out to fully landscaped and fenced yard for privacy. Minutes from great schools, parks, trails, shopping, recreations centres, LHSC and Western University. On bus route makes transportation convenient. 1 car garage that is insulated and has entry into the garage and exit to side of house. Long Closing available. Asking $865,000.00. CB of 2% + HST.

04/06/2022

04/03/2022

You’re not buying a home that fits your needs, but a property that can be improved with little time and resources and then sold quickly.

Read more, here:
https://www.point2homes.com/news/tips-tricks/how-flip-house-beginners-guide.html?fbclid=IwAR0TMctoaaLvtuA_wY0inxGuQx0pva8XEcXbi2vdIcBGUbzW_0imSIKvjb4

You’ve done your research, considered the pros and cons, and you’re ready to give house flipping a go. But where exactly do you start?

03/30/2022

Are you looking for new build home in London and/or the surrounding area? Contact me today and let's start your search and planning!

03/27/2022

Here’s what first-time buyers and sellers can expect, and how I can help guide you throughout:
https://www.realtor.ca/blog/6-things-to-know-about-the-offer-process/24562/1362?fbclid=IwAR0lAdmv5W6MePZr7p8qplHCF02fanbxkhuP3e9BYfaG2Y2hJaVzmKiMDns

Buying the perfect home is not as simple as it can look on TV. Buyers and sellers must first navigate the offer process, which can involve many steps and quick decisions. Here’s what first-time buyers and sellers can expect, and how your REALTOR® can help guide you throughout. 1) What must happen...

03/25/2022

JUST LISTED! 🏡
1383 Stoneybrook Crescent, LONDON ---> $799,900

Contact Rahim Charania for your private viewing!
📧 [email protected]
📲 519-859-0133

This is the One! A must see, cottage-like bungalow with a modern interior. Situated in the heart of desirable Stoneybrook, within minutes to Masonville mall, Western University, Stoneybrook trails and Stoneybrook Public School/ Lucas Secondary School. This 3+1 offers you a fully upgraded space, an open concept layout and a lovely bay window beaming natural light. All new appliances, access to the garage from inside the house, and gorgeous flagstone covered porches in the front and back yard are only some of the desirable features this home has to offer. Main floor includes 3 bedrooms and a large 4 piece bathroom. The beautifully finished lower level boasts a spacious rec room, bedroom, 3 piece washroom and a large flex space currently used as a kids playroom. Pride of Ownership. You won't be disappointed.

$799,900.00 Holding offers until April 2 2022 at 6pm. 1 Hour to Revise. Offer Presentation at 8pm. Seller reserves the right to look at strong pre-emptive offers.

03/21/2022

Real estate is the best investment for small savings. More money is made from the rise in real estate values than from all other causes combined.

03/20/2022

Did you know that in several major cities like London, Toronto, New York, and elsewhere around the world, there are entire buildings and developments that exist solely for the purpose of hiding vent shafts, utilities, cell phone towers, railways, and simply to give off the illusion of occupation?

03/16/2022

As the spring real estate market nears, there's very little to buy in London, Ont.

Realtors say if anything derails the traditional spring selling season in London, Ont., it won't be rising interest rates, but low inventory, a problem magnified by the glut of first-time and out-of-town buyers looking to move in.