In recent months, we’ve seen the mainstream media publish several stats and articles about Canada’s declining real estate market.
The popular stories go something like this: Home sales fall by 22%; or Home prices drop by 10%. Does that sound familiar? Bad news grabs our attention. It’s human nature.
Now, for a dose of reality…
It’s true, there are fewer home sales when compared to last year’s crazy red-hot housing market. In 2017, home sales and home prices were up 20% and 25% in the first four months of the year. That pace is unsustainable. We don’t ever want to match that pace. Continue reading “REAL facts on Housing Prices… they’re not dropping like you may think!”
A few years back, I had the privilege of hearing one of my childhood idols – former Toronto Maple Leafs captain, Darryl Sittler – speak at a Real Estate Investment Network (REIN) meeting.
In case you haven’t heard of REIN, let me share some details about this group of real estate investors that gets together to network and share valuable information affecting real estate in Canada. The leader of the group is Don Campbell. His approach to buying investment properties has proven to be very sound and profitable. In fact, his “Top 10 Best Cities to Invest” lists are legendary! Continue reading “Darryl Sittler made his fortune in Real Estate… not Hockey!”
Rental vacancies are ridiculously low and demand for rental units is high… and growing!
That’s just a sampling of the opportunistic real estate investment news Ted Tsiakopoulos, CMHC’s Regional Economist for Ontario, shared recently at the Canadian Mortgage Brokers’ Association (CMBA) of Ontario annual conference.
Here are other main takeaways:
- Strong 2017 economy helped ease imbalances
- Sales and new home starts expected to slow
- Prices to grow moderately
- Eastern & Western Ontario will outperform Southern Ontario
- Mortgage delinquencies remain at record lows – much lower than credit card or car loan debt
Continue reading “Ontario Housing Market: Increased Opportunity for Investors!”
The BIG SIX BANKS have been caught. For those who still think the banker is your friend and is only looking out for your best interests, guess again. They’re in the business of selling and making money. The FCAC has finally reported what Financial Experts have known for years!
This report was recently released… but I wonder how soon it will be forgotten? And how much media attention will this important story really get?
Don’t forget, the BIG SIX BANKS are among the Top 10 Largest and most profitable corporations in Canada. They spend billions in marketing each year. That sort of advertising budget can make us forget about these types of announcements.
Continue reading “BIG SIX BANKS exposed and called out by Financial Consumer Agency of Canada!”
When it comes to mortgages, $100 isn’t going to get you very far. But what if you paid an extra $100 a month towards your mortgage? It’s not a lot of money these days, but it can add up to some solid savings over time.
Let’s look at a $300,000 mortgage with a 2.89% rate and a 25-year amortization. At the end of five years, you’ve paid off an extra $6,444. The balance owing is $249,435. And the remaining amortization is 17 years and 9 months instead of 20 years. This also represents an interest savings of $11,423 over the life of the mortgage. Not bad!
Now let’s look at paying an extra $200 per month. At the end of five years, you’ve paid off an extra $12,888. The balance owing is $242,991. And the remaining amortization is 15 years and 11 months. This represents an interest savings of $20,708 over the life of the mortgage! Continue reading “How can an extra $100 boost your mortgage?”