Real Estate Insider: April 2021
Posted on April 21st 2021 by Lalovich
Hi there, readers! Don’t let lockdown get you down—grab your coffee and jump into this month’s hand-picked collection of articles. What happens if you lie about square footage in an MLS listing? What’s the best defence against rapid inflation? Are you looking to “trade” your career? Discover all this and more in this edition of the Real Estate Insider!
The closed bidding system is frustrating for everyone, but has anyone thought about just how inefficient this system truly is? This blogger breaks it down in a very interesting way and exposes the detrimental effects that this inefficiency is having on the economy. Are the days of listing low to get multiple offers over? Read this article and decide!
The Real Wealth Builder
Real estate is less risky than stocks, so you should make more money on stocks…right? Maybe not. Here’s a good article on the classic “Real Estate VS Stocks” debate that shows why it’s easier to build wealth in real estate!
Square footage is not a required field in Windsor-Essex MLS listings, but if you advertise the size, you’d better be right! Read about how this Buyer terminated a firm deal because the house was 42% smaller than advertised!
And the Flames Went Higher
Rapidly rising house prices and the widening of the wealth gap are just some of the issues made worse by the pandemic. How much is the federal government to blame for these issues? According to this blogger: A LOT! Learn how the federal government seems to be stoking the fire on an already blazing problem for our economy.
Don’t Destroy Your Wealth!
Fears of rapid inflation are rising. The good news for homeowners is that real estate is a good hedge against it!
Inflation and Illusion
What if we told you that despite the rapidly rising cost of homes, it’s actually cheaper to buy a house today than it was in 1989? Before you go breaking out the straight jacket, this article breaks down many of the aspects people don’t consider to prove that housing isn’t as expensive as the sales prices make them out to be!
How Mortgage Brokers Get Paid
Read this so you don’t get surprised right before closing!
“IN SEARCH OF SKILLED TRADES!” — Sincerely, Everyone. Discover how desperate Ontario is for skilled trades workers. If you are sitting behind a desk thinking of a career change, there has never been a better time.
A new proposal to tax capital gains on your personal residence would complete the government greediness trifecta! You get taxed when you buy (land transfer tax), every year (property tax), and now when you sell! Let’s put an end to this before they start taxing us for breathing—oh wait, they have! Read about how they handle this in America and why it wouldn’t work in Canada!
Shut It Down!
The people spoke and the government listened! Read why the government says they will not tax capital gains on personal residences under this administration, whether they want to or not!
The Waiting Game
Timing the market to buy low is something that many think is their only way to get a house these days. Unfortunately this can be one of the hardest things to get right and is almost never worth it! Learn about the problems with timing the market, and why you should buy whenever you get the right opportunity!
Nothing But Net
Think you could take a vacant piece of land and turn it into a home or neighbourhood to sell? If you do, this is a good place to start for a reality check! Read here the basic steps this real estate developer took to net himself $300k!
The Right-of-Way and the Wrong Way
A right-of-way to access the local lake was an important feature on this non-water fronting Air BnB. The owners of the waterfront property on which the right-of-way was located was sick of people abusing their land and using it for more than just lake access. What happened when the lakefront property owner took them to court to dispute their use? Read the verdict here!
Tired of bidding wars and renovations that come with re-sale homes? A pre-construction home might be just the answer! If you have a sizeable down payment, are in no rush to move, and have the patience, then it might work out better than expected. Start here to get a feel for the entire process and decide if it right for you!
Flattening the Learning Curve
If you are—or wish—to become a Landlord, the pandemic has put everyone on a steep learning curve when it comes to facing unexpected challenges. Read here for a few lessons that every Landlord should take away from this situation to keep their business thriving.
Co-Signs and Warning Signs
Co-signing on a mortgage may just seem like an easy way to help a family member or friend get a loan, but it is actually much riskier than that. Learn about what you should know before co-signing on a mortgage, when to say no, alternatives, and more!