Kenny Chan Realtor Greater Toronto Area

Kenny Chan Realtor Greater Toronto Area I help you find a house or condo that you REALLY REALLY like (but not love!). You'll grow to love it once it becomes a home. I don’t drag them to showings.

It seems like there’s a billion Realtors out there...here’s how I’m different:

Philosophy - I teach my clients real estate. I don’t tell them to list at my price. I give them the information and I teach them to criticize the information for themselves. Clients are empowered to make the best decision for their own best interests, not mine Patience - the pushy Realtor salesperson needs to die an

d stay dead forever. I work within the schedule and comfort level of my clients. Sometimes it takes them a year to find something. That’s fine. I’m here every step of the way, even if we take a few steps back. Honesty - I don’t know everything but if you ask me a question I will find the answer for you. I will never give you a bullsh*t answer to cover my ass. I am the hardest working Realtor on the board, and I would love to win the opportunity to work for you. If you give me a chance, you can trust that I won’t let you down.

What's your favourite room in your home and why? 🏡Comment below.
02/01/2024

What's your favourite room in your home and why? 🏡Comment below.

 the Bank of Canada has increased their interest rate again. personally I would anticipate more rate increases over the ...
07/12/2023

the Bank of Canada has increased their interest rate again. personally I would anticipate more rate increases over the next 12 months. Bank of Canada doesn't seem convinced that inflation is under control.

full video https://youtu.be/2aak0HShEQYYork Region Market Update Aug to Nov 2022Detached, Semi, Townhouse, Condo Apartme...
12/18/2022

full video https://youtu.be/2aak0HShEQY
York Region Market Update Aug to Nov 2022
Detached, Semi, Townhouse, Condo Apartment, Condo Townhouse

What's Next?
December 2022 - Bank of Canada increases policy interest rate again
More details in separate video

BoC contemplating (but not strongly suggesting) more interest rate hikes, inflation still high

January 1, 2023
Foreign Buyers BAN Across all of Canada
More details in separate video

Immigration
Canadian government goal of landing some 432,000 new permanent residents this year 2022

Rent Prices
Likely to continue to increase in 2022 throughout 2023. Buyers become tenants for now amid uncertainty.

full video https://youtu.be/MRugZKPHrrEBank of Canada Dec 2022 UpdateDec 7 2022Raised policy interest rate by 0.50%Overn...
12/17/2022

full video https://youtu.be/MRugZKPHrrE
Bank of Canada Dec 2022 Update
Dec 7 2022
Raised policy interest rate by 0.50%
Overnight rate (bank to bank) at 4.25%
Bank rate (BoC to bank) at 4.5%
Global economic growth is slowing, although it is proving more resilient than was expected
In the United States, the economy is weakening but consumption continues to be solid and the labour market remains overheated
In Canada, GDP growth in the third quarter was stronger than expected
CPI inflation remained at 6.9% in October
Growth will stall through the end of this year and the first half of next year
However, inflation is still too high and short-term inflation expectations remain elevated
Will be considering whether the policy interest rate needs to rise further
Versus October “expects that the policy interest rate will need to rise further”
The next scheduled date for announcing the overnight rate target is January 25, 2023
https://www.bankofcanada.ca/2022/12/fad-press-release-2022-12-07/

full video https://youtu.be/YPjLC0shOzkWhat’s Going On With The Foreign Buyers? 2022 2023Foreign buyers tax Non-resident...
12/16/2022

full video https://youtu.be/YPjLC0shOzk
What’s Going On With The Foreign Buyers? 2022 2023

Foreign buyers tax
Non-resident speculation tax (NRST)

ONTARIO specific
Effective October 25, 2022, the Non-Resident Speculation Tax (NRST) rate was increased to 25 per cent
purchase or acquisition of residential property anywhere in Ontario by
individuals who are foreign nationals (individuals who are not Canadian citizens or permanent residents of Canada)
foreign corporations
taxable trustees
https://www.ontario.ca/document/land-transfer-tax/non-resident-speculation-tax

NATIONAL Foreign Buyer Ban?
Parliament passed the “Prohibition on the purchase of residential property by non-Canadians Act”
Starts January 1, 2023
Applies to non-Canadians purchasing residential property in Canada for a period of two years.
residential property, including detached houses or similar buildings of one to three dwelling units,
parts of buildings such as semi-detached houses, condominium units, or other similar premises.
Applies to direct or indirect purchases of residential property
including purchases made through corporations, trusts or other legal entities.

As of December 9, the government has still not released the supporting regulations for the law. Regulations typically include definitions, exceptions, and enforcement elements to help individuals understand and comply with the law.

full video https://youtu.be/SjVtksfnp8QToronto Market Update Aug to Nov 2022Detached, Semi, Townhouse, Condo Apartment, ...
12/15/2022

full video https://youtu.be/SjVtksfnp8Q
Toronto Market Update Aug to Nov 2022
Detached, Semi, Townhouse, Condo Apartment, Condo Townhouse

What's Next?
December 2022 - Bank of Canada increases policy interest rate again
More details in separate video

BoC contemplating (but not strongly suggesting) more interest rate hikes, inflation still high

January 1, 2023
Foreign Buyers BAN Across all of Canada
More details in separate video

Immigration
Canadian government goal of landing some 432,000 new permanent residents this year 2022

Rent Prices
Likely to continue to increase in 2022 throughout 2023. Buyers become tenants for now amid uncertainty.

full video https://youtu.be/ohLjmkbobxsDetached Market Update Aug 2022 to Nov 2022Toronto, Durham, Peel, YorkDecember 20...
12/14/2022

full video https://youtu.be/ohLjmkbobxs
Detached Market Update Aug 2022 to Nov 2022
Toronto, Durham, Peel, York

December 2022 - Bank of Canada increases policy interest rate again
More details in separate video
BoC contemplating (but not strongly suggesting) more interest rate hikes, inflation still high

January 1, 2023
Foreign Buyers BAN Across all of Canada
More details in separate video

Immigration
Canadian government goal of landing some 432,000 new permanent residents this year 2022

Rent Prices
Likely to continue to increase in 2022 throughout 2023. Buyers become tenants for now amid uncertainty.

Current Mortgage Rates are:"A" Lending:Fixed       5.29%* for insured Fixed       5.54% for conventionalVariable   5.05%...
11/07/2022

Current Mortgage Rates are:

"A" Lending:
Fixed 5.29%* for insured
Fixed 5.54% for conventional
Variable 5.05% for insured
Variable 5.55% for uninsured

Rental 5.69% fixed
6.05% variable
Prime Rate 5.95%
Qualifying Rate Contract Rate + 2%
Next rate set by Bank of Canada is on Dec 07, 2022

"B" Lending:
"B" Lending - Rate starts from 6.24%
35 years amortization available*
TDS up to 60%*
No GDS
Self-Employed - 6 to 12 months bank statements
Bad/Bruised Credit
Rental Properties
Existing or Previous Consumer Proposal

"C" Lending:
Rate starts from 8.75%*
No documentation required
Quick Closing
True Stated income
No Proof of Down Payment
Interest only or 40 years amortization
Fully open or 3 months interest penalty

"2nd Mortgage"
Rate starts from 12.99%

07/13/2022

Bank of Canada increases policy interest rate by 100 basis points (=1%) , continues quantitative tightening.

Per the BoC:
Inflation in Canada is higher and more persistent than the Bank expected in its April Monetary Policy Report (MPR), and will likely remain around 8% in the next few months. While global factors such as the war in Ukraine and ongoing supply disruptions have been the biggest drivers, domestic price pressures from excess demand are becoming more prominent. More than half of the components that make up the CPI are now rising by more than 5%. With this broadening of price pressures, the Bank’s core measures of inflation have moved up to between 3.9% and 5.4%. Also, surveys indicate more consumers and businesses are expecting inflation to be higher for longer, raising the risk that elevated inflation becomes entrenched in price- and wage-setting. If that occurs, the economic cost of restoring price stability will be higher.

Toronto Market Update Slides - Jan 2022 to May 2022 - Detached, Semi, Townhouse, Condo Townhouse, Condo Apartment
06/07/2022

Toronto Market Update Slides - Jan 2022 to May 2022 - Detached, Semi, Townhouse, Condo Townhouse, Condo Apartment

Address

165 Main Street North
Markham, ON
L3P1Y2

Opening Hours

Monday 9am - 9pm
Tuesday 9am - 9pm
Wednesday 9am - 9pm
Thursday 9am - 9pm
Friday 9am - 9pm
Saturday 9am - 9pm
Sunday 9am - 9pm

Telephone

+16473853838

Website

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