Sheikan Bautista

04/20/2025

01/09/2025

Good morning, Toronto and happy 2025. 🌞

This is your friendly reminder to submit your vacant home tax declaration, if you haven’t already.

Declare here: https://www.toronto.ca/services-payments/property-taxes-utilities/vacant-home-tax/

12/31/2024

Wishing you blessings & prosperity in 2025!

12/24/2024

Merry Christmas, Happy Holidays and all the very best in the New Year!

09/04/2024

In its third consecutive cut since June, the Bank of Canada lowered its key interest rate to 4.25 per cent on Wednesday, citing the continued easing of inflation.

While the move was widely anticipated by economists, the gradual pace of cuts has sparked some questions about when a more dramatic move might be made.

"If we need to take a bigger step, we're prepared to take a bigger step," Bank of Canada governor Tiff Macklem said during a news conference Wednesday. "At this point, 25 basis points looked appropriate."

Source: cbc.ca

07/18/2024

Happy To Help You With Any Of
Your Real Estate Needs 🔑

07/04/2024

June 2024 home sales in the Greater Toronto Area (GTA) were lower compared to the same month last year, according to the Toronto Regional Real Estate Board (TRREB). Despite the Bank of Canada rate cut at the beginning of last month, many buyers kept their home purchase decisions on hold. The market remained well-supplied, resulting in a slight dip in the average selling price compared to June 2023.

“The Bank of Canada’s rate cut last month provided some initial relief for homeowners and home buyers. However, the June sales result suggests that most home buyers will require multiple rate cuts before they move off the sidelines. This follows Ipsos polling for TRREB, which suggested that cumulative rate cuts of 100 basis points or more are required to boost home sales by any significant amount,” said TRREB President Jennifer Pearce.

GTA REALTORS® reported 6,213 home sales through TRREB’s MLS® System in June 2024 – a 16.4 per cent decline compared to 7,429 sales reported in June 2023. New listings entered into the MLS® System amounted to 17,964 – up by 12.3 per cent year-over-year.

The MLS® Home Price Index Composite benchmark was down by 4.6 per cent on a year-over-year basis in June 2024. The average selling price of $1,162,167 was down by 1.6 per cent over the June 2023 result of $1,181,002. On a seasonally adjusted monthly basis, both the MLS® HPI Composite and the average selling price were up compared to May 2024.

“The GTA housing market is currently well-supplied. Recent home buyers have benefitted from substantial choice and therefore negotiating power on price. Moving forward, as sales pick up alongside lower borrowing costs, elevated inventory levels will help mitigate against a quick run-up in selling prices,” said TRREB Chief Market Analyst Jason Mercer.

“Despite a temporary dip in home sales due to high interest rates, we know that strong population growth is driving long-term demand for ownership and rental housing. Ontario has set the goal of 1.5 million more homes on the ground by 2031. This is only possible if all levels of government ensure actionable solutions with sustained effort, including continuing to remove red tape, avoiding financial barriers to home construction, and minimizing housing taxes and development charges,” said TRREB CEO John DiMichele.

06/19/2024

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Socorro Abesamis Baasis

05/23/2024

A 60% chance is better than a 50% chance.

Thank you Benjamin Tal, Chief Deputy Economist.

Canadians have been waiting for the news that, after a series of interest rate hikes that began all the way back in March 2022, the hikes are finally over and rate cuts are coming — and, a few weeks out from the Bank of Canada’s (BoC) next interest rate announcement, it appears that time is finally here.

“Things are moving in the right direction; we got the inflation numbers today, and they were even better than expected,” Benjamin Tal, deputy chief economist at CIBC, said. New data from Statistics Canada showed that the consumer price index in Canada cooled to 2.7 per cent in April, a three-year low for the inflation rate.

“This has major implications regarding the timing and the magnitude of the cut by the Bank of Canada. There is a more than 60 per cent probability now that June will be the first move,” Tal said. “And that’s good news, because the BoC, in my opinion, is already overshooting by about 50 basis points. The earlier they cut interest rates, the better it is for the economy.”

Tal noted that the labour market is slowing down in Canada, with the economy in a per capita recession and inflation behaving.

" There’s no reason not to cut. "

He is predicting a cut of 25 basis points, to 4.75 per cent, in June. “If they move in June, there may be another rate cut in July, and maybe another in September,” he said.

Tal believes the interest rate will bottom out in 2025, at around 3-3.75 per cent.

Here we go - what are your thoughts?

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BUZZ

05/21/2024

Amazing time at the Largest Real Estate Conference and Trade Show!
Realtor Quest 2024
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