Real Estate Insider: June 2022
Posted on June 27th 2022 by Lalovich
Welcome back, Real Estate Insiders! This month, we cover a bit of the good, the bad, and the ugly sides of real estate realities including housing market history, divorce, fixing up fixer uppers, and much more. Whether you’re headed off to the cottage for the Canada Day weekend or taking a break, we hope you find our collection of light reading informative!
Buying A Home After A Divorce: What You Need To Know!
Did you recently split from your partner and buying your own home? It’s essential that you know which tax credits and government benefits you qualify for. This article is a great start!
Are Finance Conditions Back?
While you may be pre-approved for a mortgage, there is no guarantee the house will appraise for the purchase price you offer. Discover what happens when the appraisal comes up short!
Assignment Agreements: The Step By Step Guide
This great webinar from Mark Weisleder navigates you through Assignment Agreements for pre-construction and new build condos.
The Housing Crisis: Could Anyone Have Seen It Coming?
The answer is a resounding YES! This blogger lays out the Canadian government’s steps taken over the last decade to create the housing shortage. The onus is on them to not only build more units, but to build more of the right units. See how the writing has been on the wall for a very long time!
Read: My Opening Remarks on the Housing Crisis
High Inflation And Rental Properties: Should You Rent or Sell?
If you have a rental property becoming vacant the next 6 to 12 months, listen up! This blogger compares the pros and cons of renting versus selling rental properties during high inflationary periods. While there is always a level of uncertainty with when inflation will decrease, there are certainties that should always be considered based on individual circumstance.
Hight Interest Rates Equal More Affordable Housing…Right?
A CIBC economist is saying “not so fast”. Interest rate hikes won’t solve the underlying Canadian supply issue or its inability to keep up with building demand due to lack of trade and construction workers. Find out what’s being predicted for the housing market!
Read: CIBC says higher interest rates will “not cure what ails Canadian housing”
Splitting Wood: Who Gets The Cottage In A Divorce?
With settlements expected to increase, and as prices and sales having increased significantly, the answer is blurry. This bloggers advice? Avoid potential emotional and financial hardship with a prenup—especially if there is emotional attachment to the cottage. If you have a family cottage that you and your spouse frequently visit, you might be surprised that it could be considered a “matrimonial home”.
Read: In divorce, the cottage is fair game
No Quick Resolutions For Landlord Or Tenant Disputes
The snail’s pace backlog of cases of Ontario’s rental dispute resolution tribunal is getting ridiculous. Landlords and Tenants across the board are being affected by several issues, and the exasperation is being felt by many.
Read: Both tenants, landlords exasperated by delays at Ontario’s rental dispute resolution tribunal
Is Ontario Population Growth Data Being Swept Under The Rug?
Listen to this podcast with Mike Moffat as he breaks down the Ontario population data, housing supply, and more!
Listen: Dr. Mike P. Moffatt – Ontario Population Data
General Contractors: Not All Cut From The Same Cloth
This video provides some great tips on how to pick your contractor, the size of deposit to give them, how to hold them accountable, and more!
Housing Market VS Stock Market: Which Is More Important?
For the average family, a stock market crash would be much easier than a housing market crash. See where the rich are parking their money, why inflation is good for homeowners, and more!
Read: Why Housing is More Important Than the Stock Market
The Overlooked Cost Of Homeownership: Utility Bills
Utility costs are rising and are often overlooked or under-assumed when calculating housing affordability. Read here what the average utility bill is for Canadians, why it’s increasing, and how they are calculated, and tips to reduce them!
Read: What is the average cost of utilities for a house in Ontario and why is it increasing?
How To Handle Mortgage Rate Spikes
They’re on rise for everyone. Whether you’re coming up for renewal, refinancing, or buying a home, it’s good to know how to handle these spikes to keep more of your money!
How The Housing Market Changed America
Take a journey through history! This blogger explains how the housing market has changed America through the years—especially from 2020 to 2022.
Read: How the Housing Market Has Changed America
Re-Think That Fixer Upper
Costs and renovation timelines are growing rapidly. Is it time to reconsider buying a fixer upper to gain “sweat-equity”? This blogger thinks that moving forward there will be higher premiums on remodelled homes. If you’re thinking of buying a fixer upper, there are criteria you should meet—find out if you qualify!
