What are the opening hours?

Monday 9am - 9pm Tuesday 9am - 9pm Wednesday 9am - 9pm Thursday 9am - 9pm Friday 9am - 9pm Sunday 9am - 4pm

David Soberano

Home
Canada
Toronto, ON
David Soberano

David Soberano, the Trusted Name for Real Estate in Your Community, Helping People Buy and Sell The

David Soberano is a compassionate and devoted Real Estate Broker who specializes in the areas of Bathurst Manor, Clanton park and the GTA. He will work together with his clients in order to find the most suitable home for their dear families. David is very well versed in the searching and negotiations process and will also support and guide his clients through-out the entire process. David has bee

n working for his clients since 1996 and has been very successful. David is just a phone call away and is always available for a consultation in order to help you buy your new home or an evaluation of your current home. Please visit his website at:
www.davidsoberano.com
You may call him at:
(416)782-8882
David is looking forward to building a relationship with you!

05/05/2022

⬇️Average GTA Home Prices Slip in April as Sales Plunge 41%⬇️

It would appear recent rate hikes from the Bank of Canada are having their intended effect on the housing market — the latest numbers from the Toronto Regional Real Estate Board reveal both sales and prices are starting to soften, as buyers, wary of market volatility, take to the sidelines.

A total of 8,008 homes sold through the TRREB MLS system in April, down 41.2% year over year, and -27% compared to March. The board notes that the decline was steepest in markets outside of the City of Toronto core, with detached houses in the 905 regions particularly feeling the brunt.

The average price for a home in the GTA clocked in at $1,254,436 — still a 15% increase from last April, but indicative that price growth is starting to decelerate, costing $45,646 less than in March (-3.5%). The MLS Home Price Index Composite Benchmark remains 30.6% above last year’s levels.

✔️Overall Inventory Continues to Recover
In what’s good news for supply-starved buyers, inventory continues to improve from the record lows experienced at the beginning of the year; the month ended with a total of 13,098 active listings, up 12.3% year over year, and a whopping 28% from March.

However, the growing stock of homes for sale appears to be due to the decline in sales, rather than fresh listings coming to market; a total of 18,413 new listings were brought online, down -8.1% on a monthly basis and -11.7% year over year, suggesting that perhaps sellers are also hesitant to jump into today’s uncertain buying environment.

As the decline in sales outpaced that of new listings, though, conditions are starting to become ever-so-slightly less intense for prospective buyers. The sales-to-new-listings ratio came in at 68%, down from the 70.5% posted in March — though that’s still indicative of a strong sellers’ market overall.

☀️Reference: https://cutt.ly/bGXweZW

05/03/2022

Renting with Pets: Pet Rent, Pet Fees & Pet Deposits Explained🐱🐶

Many tenants are pet owners, especially in recent years, in which pet ownership has skyrocketed due to the pandemic. However, the rules regarding pets can sometimes be difficult for both landlords and tenants to grasp.

🐰What Is Pet Rent?
If you’re a renter in Canada, you’re in luck: charging pet rent is prohibited here. Moreover, the Ontario Residential Tenancies Act prohibits “no pets” clauses in rental agreements. Other provinces, such as Alberta or Quebec, give landlords a bit more leeway, so make sure to check the lease and building rules on whether pets are allowed or not.

🐶What Is a Pet Deposit?
Similar to the security deposit, a pet deposit is a one-time, refundable fee charged to cover the cost of property damage caused by a tenant’s pet. However, unlike pet rent, it is paid upfront as a lump sum rather than having it spread out in smaller installments throughout the lease. It is calculated as a percentage of the monthly rent and usually ranges between 40% and 85%.

A pet deposit is used by the landlord to cover things like scratched floors, damaged carpets, broken furniture or appliances, or even damage caused by chewing. However, it cannot be used to pay for wear and tear.

In the U.S., Pet deposit laws vary from state to state. In some cases, no separate pet deposits are allowed. Additionally, some states can cap the pet deposit to a quarter of the month’s rent, while others place the cap at $2,500.

🐈What Is a Pet Fee?
A pet fee is a one-time, non-refundable fee charged upfront to allow pets on the property and cover any damage they may cause. Some landlords may prefer charging a pet fee rather than a deposit, not necessarily because it’s non-refundable, but because it can also be used to cover wear and tear, such as cleaning the carpets and upholstery after the tenant has moved out.

☀️Reference: https://cutt.ly/iGFjbiB

05/02/2022

🟣Climbing Inflation and Interest Rates Will Hit Low-Income Canadians Hardest🟣

In news that’s not exactly surprising, a new report from RBC Economics reveals that low-income Canadians will feel the sharpest financial sting from climbing inflation and rate hikes.

While rising prices and borrowing costs will impact all Canadian households, those with lower incomes will be particularly hard-hit — a burden that will only grow heavier in 2023.

As the report highlights, a return of the overnight rate to 2% — which is expected by October — will hike average Canadian household debt payments by nearly $2000, or 15%, next year. This will significantly reduce spending power, especially for the lowest earning fifth of households, who spend 22% of their after-tax income on debt servicing. By contrast, those in the highest income quintile spend just half of that amount.

Lower income Canadians will also see their debt service ratio (the amount of disposable income needed to meet debt payments) increase much faster through 2023 — at twice the speed of the highest income households.

The pandemic may have boosted debt but it also left Canadian households sitting on $300 billion in savings, likely due to an elimination of spending on things like travel, restaurants, gas, and entertainment. That amount is enough to cover about a year and a half of total household debt payments, highlights the report. That is, in theory; those savings are by no means evenly distributed. While the top income households retain almost a third of the total, the lowest income Canadians hold less than a fifth.

The pandemic heightened the debt held by Canadians, with mortgage debt exploding, reports RBC Economics. As many Canadians sought more living space in a climate of low borrowing costs, mortgages grew by an average $150 billion per year in 2020 and 2021 — almost doubling the annual growth rate between 2015 and 2019, according to RBC. By the end of 2021, mortgages accounted for over 70% of all household debt. Meanwhile, the amount of consumer credit, declined in 2020.

🔻Reference: https://cutt.ly/VGFgxpM

04/29/2022

How to Flip a House: A Beginner’s Step-by-Step Guide🏠

So, you’ve decided to enter the exciting world of house flipping. You’ve done your research, considered the pros and cons, and you’re ready to give it a go. But where exactly do you start? In this guide, we’ll take a look at the key steps you’ll need to take to flip your first house.

📌Find a Property
When looking for houses to flip, it’s important to think like an investor, not a homebuyer. 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.

📌Find Financing
Unless you’re buying your investment property with cash, finding financing can be tricky but not impossible. If this is your first flip and you don’t have enough savings, you’ll most likely need to apply for a loan.

📌Buy the Property
Once you’ve found your investment property, reach out to the seller and make an offer. Use the 70% rule to determine the maximum price you should spend on the house to turn a profit. Calculate the after-repair-value (ARV) of the property, multiply it by 0.7, then deduct your estimated renovation costs. If the seller accepts your offer, you can then discuss closing the sale.

📌Assemble Your Team
The sooner you can fix up the property, the sooner you can flip it. And nothing speeds up the flip like several pairs of helping hands. So ask friends and family to help, even if they’re just decluttering and repainting the walls. Also, find reliable contractors to work with if there are any repair jobs you can’t do yourself.

📌Repair and Decorate
To maximize time efficiency, draw up a task list in advance. Start by decluttering any old or broken items and giving the property a general clean. This will help you find any hidden problems that may be covered by old furniture, for example. Work your way through the major repairs first, such as patching up holes in the walls, changing the flooring, retiling and so on.

🤍Reference: https://cutt.ly/cGYrc5y

04/29/2022

🔻Early Data Shows GTA Housing Prices On “Rapid Decline” in April🔻

The official spring numbers for the Greater Toronto Area market won’t be out until next week, but early analysis finds that average housing prices in the region are dropping at a rapid pace.

Initial data comparing the percentage change in sold prices for low-rise homes in the first three weeks of April to the same time frame in February, finds prices are declining across all GTA municipalities, between 6 – 21%.

It’s concrete proof that the anecdotally softer conditions seen thus far this spring are indeed a reality; agents have reported overall fewer buyers in the market, a dramatic drop in offers, and the resurgence of buyers’ market trends such as bully offers and conditions.

“Prices Don’t Drop This Quickly”
What’s doubly unusual about this trend, is that not only is a February to April price decline unseasonal, the current drop is much steeper than any seen in recent years. A likely culprit are sellers who bought at the late-winter peak who are now in a rush to sell in order to close on their impending transactions.

According to the data, the smallest price declines are in Toronto and Richmond Hill, at 6% each, followed by Oakville, where they’re down by 7%. The most notable plunges can be found in the outer suburbs, where, they saw the most dramatic run up in prices during the pandemic’s urban exodus era.

Today’s rising interest rate environment certainly is a factor; the most recent half-point increase implemented by the Bank of Canada earlier this month will add roughly $200 to monthly payments on an $800,000 variable-rate mortgage. Another important point, is that given the volume of home purchasers was much higher than usual over the past two years, today’s buyer pool has been depleted.

🍀Reference:https://cutt.ly/iGT6IUp

04/28/2022

🌷Spring Cleaning Checklist for Each Room of the House🧹

With spring on its way, it’s time to dust off those winter cobwebs and get your home in order!

🛋️Living Room
Roll up the carpets, then vacuum and mop the floors. You can also move furniture such as sofas to the center of the room, then vacuum and mop behind and underneath them as well.
Use a vacuum or steamer to clean sofas and upholstery, and remember to clean inside crevices as well. If you have decorative pillows, take off their cases and wash them. Do the same with your decorative blankets.

🛏️Bedroom
Rotate your mattress so that the head moves to the bottom of the bed. Also, if your mattress has a separate summer and winter side, flip it so that the summer side is facing up.
Let the mattress air for a few hours before putting clean sheets back on the bed.
Move the bed and sweep or vacuum around and underneath it. Give the floors a good mop, then push the bed back in its original spot.
Wash sheets, duvet covers and pillowcases at 140°F on a full cycle to remove any traces of sweat, dust or dander.

🍴Kitchen
Use a liquid dish soap solution to remove tough grease stains from your cooktop.
Clean the inside of your oven, and wipe the glass door inside and out. Don’t forget about your microwave oven either.
Wipe any stains and splashes from the tiles, counters and cabinet doors.
Go through your cabinets and throw out any food items that have expired. Remember to check dried foods as well, such as spices, pasta, rice or beans.
Take out the shelves and drawers from your fridge and give them a good clean.

🛁Bathroom
Give all tiles a good scrub. If you notice signs of black mold, spray the surfaces with a water and vinegar solution, scrub them with a sponge, then rinse them out.
Wipe mirrors and windows.
Wipe the dust off all surfaces, including vent covers.
Take off the shower curtain and mat and wash them in the washing machine on a cold setting. Then, you can leave them out to dry or tumble dry on a very low setting.

🔗Reference: https://cutt.ly/LGzOp3e

04/28/2022

Bank of Canada Interest Rate Announcement: Another 0.5% HikeThe 🔰

Bank of Canada has raised its key interest by another 50 basis points in this morning’s announcement, bringing it up to one per cent. This is the second in an expected series of rate hikes slated for 2022, and the biggest single increase since 2000.
The move follows a 0.25-per-cent increase at the Bank’s last interest rate announcement on March 2, which was the first upward move since October 2018, following a trio of decreases in March 2020, to help ease the economic fallout of COVID-19. This new upward trend is intended to rein in the rapid rise of inflation, which hit a 30-year high of 5.1 per cent in January, well above the Bank’s projection of two per cent.
The Bank cited the unprovoked invasion of Ukraine by Russia as a continuing source of major uncertainty, with spikes in the price of oil, natural gas and other commodities adding to inflation, and exacerbating ongoing supply chain disruptions.
In Canada, the Bank says the economy is chugging on all cylinders, with tight labour markets and wage growth back to pre-pandemic levels. Consumer spending is up as pandemic restrictions continue to ease, and businesses report difficulties meeting demand due to supply chain issues. The housing market is “exceptionally high” but the Bank expects it to moderate.

🔗Reference: https://cutt.ly/GGkUxic

04/22/2022

➡️Housing Starts in Canada Declined Slightly in March: CMHC

There was a slight reduction in the number of newly-started housing construction projects in Canada last month, the Canada Mortgage and Housing Corporation (CMHC) reported.

Using seasonally adjusted annual rates (SAAR) to measure housing starts, the Crown Corporation reports the total number declined to 252,497 units from 253,296 in February. However, that’s still historically high, remaining above 200,000 since June 2020. The slight month-over-month decrease occurred in Canada’s urban centres where, CMHC reported, the number of multi-unit dwellings fell to such a degree that they were partially countervailed by the notable increase of single-family detached housing starts.

Of Canada’s three largest cities, only Montreal had more SAAR growth in March, which was the result of more multi-unit starts.

CMHC also noted that standalone monthly SAAR housing starts in all parts of the country declined by 2% to 246,243 in March from a month earlier, and the SAAR total in urban areas also decreased by 2% to 220,708. Multi-unit urban starts dropped by 5% to 154,876 units in March, however, single-detached starts in Canada’s urban areas rose by 8% to 65,832 units.

Rural starts were estimated at 25,535 units, CMHC said.

Housing Supply Declined Overall in March
The slight decline in new housing is also reflected in the resale market. The Canadian Real Estate Association (CREA) released its March sales statistics this morning, revealing transactions declined by 5.4% month-over-month and by 16.3% year-over-year, although March 2021 is an all-time sales record. Moreover, new listings dropped by 5.5% in March from a month earlier, which naturally drove prices up. The MLS Home Price Index rose by 1% on a monthly basis and by 27.1% year-over-year.

❇️Reference: https://cutt.ly/EF5EyNk

04/22/2022

What Is a Bridge Loan and How Does It Work?💻

🔗What Is a Bridge Loan?
A bridge loan, also known as a swing loan, is a short-term loan taken out by an individual or a company until they can secure permanent financing. In real estate it’s a type of loan that uses the existing equity in your home to finance the purchase of a new house. Quick to take out and quick to pay back, most lenders will expect repayment when the house is sold or within one year. Bridge loans also come with higher interest rates and more rigorous requirements than conventional mortgage loans.

🔗How Does a Bridge Loan Work?
Bridge loans are often used in real estate purchases to help a buyer bridge the financial gap between finding a property and securing a mortgage. For example, if you’re a homeowner, one common scenario is finding a new property that you’re interested in buying but either lack the funds for a downpayment or, in a hot market, you want to secure the sale before your current property sells. In such cases, a bridge loan will help cover the downpayment and closing costs.

Once your first property is sold, you can then use the resulting funds to pay off the bridge loan. Most lenders will expect you to pay back the loan within a year, but some may extend that deadline to up to two years.

Applying for a bridge loan takes significantly less time than a regular mortgage, and most lenders will approve your loan within 72 hours. There are, however, some requirements to be aware of.

🔗When Is a Bridge Loan a Good Idea?
Taking out a bridge loan can work in your favor if you’re buying a home in a seller’s market. In such cases, buyers often face a bidding war for their dream home. And because it’s a hot market, it’s unlikely that the seller will agree to a sale contingency. With a bridge loan typically taking around three days for approval, you can use it to tip the scales in your favor.

❇️Reference: https://cutt.ly/DF0ghQ0

04/20/2022

⏩Average Toronto 2-Bedroom Rents Up 16% in March: Report

The cost of renting a home continued to steadily increase in March, as demand recovers from the previous pandemic-induced decline.

Nationwide, the monthly average for a rental apartment rose by 6.6% year over year to $1,818. It’s expected that rents will continue to rise as the country returns to normal, but it remains to be seen how inflation, supply chain issues, the effects of BA.2 and other sub variants of omicron — not to mention recent Bank of Canada rate increases — will impact the economy and the rental market.

Toronto, Canada’s largest city, had the second-highest average March rental rates: one-bedroom apartment rents in the city averaged $2,023 while a median two-bedroom rental unit came in at $2,776, increasing by 11% and 16.2%, respectively, year over year. However, compared to February of this year, average one- and two-bedrooms rental rates were down by 1% and 0.7%.

Impact of Pandemic Slowdown Still Evident in Toronto Core
Median rents comprising all property types in Toronto last month increased by 14.3% from March 2021, rising to $2,326. The report specified that the COVID-19 pandemic catalyzed sequential, and months-long, average rental rate declines in the city through most of 2020 and into 2021, and last month’s median was still below pre-pandemic levels.

On a monthly basis, however, rents across much of downtown Toronto have been increasing on a monthly basis — a contrast to 416 postal codes outside of the city’s downtown borders. Nevertheless, the report noted that Ontario continues being one of Canada’s most expensive provinces for rental rates, irrespective of property type, increasing by 10.8% year over year in March to $1,995. In fact, in Q1-2022 studio units across the province were, on a square foot basis, the most expensive type of rental housing, averaging $3.72 per sq. ft.

🔸Reference: https://cutt.ly/wF5W2IY

04/19/2022

Home Maintenance: Prepping Your Home for Spring🌸

With hints of spring in the air, now is a great time to show your home a little tender loving care. Here are some of the most important things to focus on.

🌷Inspect the Roof
Let’s start with the most important part: the roof. Heavy snowfall, winds and frost can leave their mark on it, so use a ladder to get up there and inspect any potential damage. Look for damaged or missing shingles, damaged piping, cracks and signs of leaks.

🌷Clean the Gutters
While inspecting the roof, take a moment to clean the gutters and downspouts. Remove any debris such as fallen leaves and twigs, and check that the pipes are not cracked or rusty. Keeping your gutters clear of any blockages will prevent any water damage on the inside and outside of your home, as well as protect your roof and attic.

🌷Check the Basement
Melting snow and spring rains could put your basement at risk of flooding. Now is a good time to check for any leaks, damp spots or mold, and make sure that any gaps and cracks are sealed properly. If you have a sump pump, check whether the intake and discharge line is clogged, and fix it if needed.

🌷Clean Your HVAC System
After a winter of intense use, your HVAC system could do with a clean. Take a look at the air filters and either clean or replace them, depending on the state they’re in. Ideally, your HVAC system should be serviced once a year, so you can also use this time to book a professional to make sure all components are working correctly.

🌷Inspect and Repair Windows
Spring is the ideal time to replace or repair your windows. If you live in an area prone to summer storms, you can even think about installing storm windows and doors. Inspect your windows for any gaps, cracks or damaged caulking. Don’t forget about the insect screens either, and make sure that they have no tears or holes that could let bugs in as the weather warms up.

🔻Reference: https://cutt.ly/MF0gCP1

04/17/2022

Canadians Used Luxury Housing to Hedge Inflation in Q1🏡

Luxury real estate purchasers are largely insulated from ballooning inflation and increasing interest rates, but that only made their pursuit of extravagant housing more dogged as hedge investments last quarter.

The GTA Had a Voracious Appetite for Luxury Homes
In the GTA, luxury residential sales over $4M of all housing types increased by 30% year over year from Q1-2021. Bidding wars were commonplace in the luxury segment, naturally driving prices up as robust consumer confidence was reflected in through-the-roof demand, which managed to top the frenetic pace of Q1-2021. Ultra-luxury single-detached home sales, which are priced at $10M and up, declined to seven from nine last year — a marginal decline in what is nevertheless a very slow-moving segment of the market — however, the $1M-plus segment saw sales increase by 11% to 15,209 in Q1.

In the City of Toronto, luxury sales over $4M rose by 29% year-over-year in Q1 to 129, while there was only one ultra-luxury of over $10M, the latter down from six during the first quarter of 2021, transactions above $1M in the 416 only increased by 10% year-over-year to 4,388.

That domestic purchasers in Canada’s largest metropolitan region were driven by domestic buyers during the first quarter of this year, which is hardly surprising in light of how much equity homeowners have accrued in recent years, especially the last two, as rock-bottom interest rates have resulted in a red-hot market.

The GTA’s detached market in the $4M-plus category was very active last quarter, with the 222 sales rising by 24% over 2021 levels, while $1M-plus home sales declined by 10% to 9,893—most likely a consequence of dwindling listings on the resale market.

In the City of Toronto, single-family homes sales over $4M rose by 17% year-over-year in Q1 to 112, and in the ultra-luxury category, there was only one sale, down from six in Q1-2021. Sales for homes priced $1M and over declined by 6% to 2,376.

🔻Reference: https://cutt.ly/GFUNXu1

Address

2815 Bathurst Street
Toronto, ON
M6B3A4

Opening Hours

Monday	9am - 9pm
Tuesday	9am - 9pm
Wednesday	9am - 9pm
Thursday	9am - 9pm
Friday	9am - 9pm
Sunday	9am - 4pm

Telephone

+14167828882

Website

http://www.davidsoberano.com/

Alerts

Be the first to know and let us send you an email when David Soberano posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Featured

Summa Property Management Inc.
3089 bathurst Street suite 218

Want your business to be the top-listed Realtor/realty Service in Toronto?

David Soberano

05/05/2022

05/03/2022

05/02/2022

04/29/2022

04/29/2022

04/28/2022

04/28/2022

04/22/2022

04/22/2022

04/20/2022

04/19/2022

04/17/2022

Address

Opening Hours

Telephone

Website

Alerts

Shortcuts

Featured

Share

Category