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Manoj Kumar Arora

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Brantford: This year’s No. 1 city to buy real estate is affordable with a strong economy...One more reason to buy this family home

As per MoneySense magazine, Brantford rants No. 1 city to buy real estate in 2018.  Even though Brantford is more than 100 kilometres away from Toronto's downtown, it's still considered part of the Greater Golden Horseshoe, an area stretching from Niagara to Peterborough, Ont, that has experienced a lift in housing values as priced-out Toronto buyer look farther afield.

Read the complete article on MoneySense Magazine's website

ONE MORE REASON TO BUY THIS BEAUTIFUL 1 YEAR NEW 4 BEDROOM FAMILY HOME IN BRANTFORD

Just 1 year new 4 Bedroom 4 Bath Detached Home for Sale in Empire Community's sought after in Brantford.

SEE MORE DETAILS AND VIRTUAL TOUR HERE


   

Executive 4 Bedroom 4 Bath Home for Sale in the Preserve community of Oakville, Ontario, Canada

The Spectacular Mattamy's Most Sought-After Snowberry Model, With Partly Finished Basement In The Preserve Community Of North Oakville! 2800 Square feet of Premium Living!! $$$ Spent On Upgrades. Energy Star Home!! Smart Home Enabled!!

Get Complete Detail on this great family home here

 

   

Anoush franchise Middle Eastern Cuisine Restaurant for sale in prime Downtown Toronto location


Profitable Business At A Prime Downtown Front Street Location Across From Rogers Center! Patio Outside! High Traffic Area! Busy Office Building Location With 1000'S Of Employees Working In and around the Building, Access From Outside The Building. Well Established Franchise! Potential To Extend Opening Hours To Increase Sales!

Sales Aprox $365000/Yr (As Per Seller), *Newer Assets*, Long Lease Approx 8.5 Years, Short Hours Of Operation M-F 10:30 Am-10 Pm, Perfect Family Business! Fixed low Royalty Fees. 

Please Do Not Talk To Staff/Management, & Remain Confidential & Professional.

A perfect investment opportunity.

Call me now at 416-618-9753 for more details and your private viewing!!

Real Estate Sales dropped by 34.9% in Greater Toronto Area while average home prices reduced by 12.4% in February 2018

TORONTO, ONTARIO, March 6, 2018 – Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 5,175 residential transactions through TREB’s MLS® System in February 2018. This result was down 34.9 percent compared to the record 7,955 sales reported in February 2017.

The number of new listings entered into TREB’s MLS® System totaled 10,520, a 7.3 per cent increase compared to the 9,801 new listings entered in February 2017.However, the level of new listings remained below the average for the month of February for the previous 10 years.

“When TREB released its Outlook for 2018, the forecast anticipated a slow start to the year compared to the historically high sales count reported in the winter and early spring of 2017. Prospective home Buyers are still coming to terms with the psychological impact of the Fair Housing Plan, and some have also had to reevaluate their plans due to the new OFSI-mandated Mortgage stress test guidelines and generally higher borrowing costs,” said Mr. Syrianos.

The MLS® Home Price Index Composite Benchmark was up by 3.2 per cent on a year over-year basis for the TREB market area as a whole. This growth was driven by the apartment and townhouse market segments, with annual benchmark price increases of 18.8 per cent and 7.5 per cent respectively. Single-family detached and attached benchmark prices were down slightly compared to February 2017. The overall average Selling price for February sales was down 12.4% year-over-year to $767,818. However, putting aside the price spike reported in the first quarter of 2017, it is important to note that February’s average price remained 12 per cent higher than the average reported for February 2016, which represents an annualized increase well above the rate of inflation for the past two years.

“As we move further into the spring and summer months, growth in sales and Selling prices is expected to pick up relative to last year. Expect stronger price growth to continue in the comparatively more affordable townhouse and condominium apartment segments. This being said, listings supply will likely remain below average in many neighbourhoods in the GTA, which, over the long-term, could further hamper affordability,” said Jason Mercer, TREB’s Director of Market Analysis.

Read the complete Market Watch Report here

   

 

The Bank of Canada maintained its target for the overnight rate at 1 per cent.

by Manoj Kumar Arora

The Bank of Canada maintained its target for the overnight rate at 1 %

The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The global economy is evolving largely as expected in the Bank’s October Monetary Policy Report (MPR). In the United States, growth in the third quarter was stronger than forecast but is still expected to moderate in the months ahead. Growth has firmed in other advanced economies. Meanwhile, oil prices have moved higher and financial conditions have eased. The global outlook remains subject to considerable uncertainty, notably about geopolitical developments and trade policies.

Recent Canadian data are in line with October’s outlook, which was for growth to moderate while remaining above potential in the second half of 2017. Employment growth has been very strong and wages have shown some improvement, supporting robust consumer spending in the third quarter. Business investment continued to contribute to growth after a strong first half, and public infrastructure spending is becoming more evident in the data. Following exceptionally strong growth earlier in 2017, exports declined by more than was expected in the third quarter. However,  the latest trade data support the MPR projection that export growth will resume as foreign demand strengthens. Housing has continued to moderate, as expected.

Read the complete press release at Bank of Canada's Website

37% increase in new MLS Homes Listings in November 2017 resulted in 2% year over year drop in Real Estate Prices in Greater Toronto Area (GTA) 

TORONTO, ONTARIO, December 5, 2017 – Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,374 transactions through TREB’s MLS® System in November 2017. This result was up compared to October 2017, bucking the regular seasonal trend. On a year-over-year basis, sales were down by 13.3 per cent compared to November 2016.

New listings entered into TREB’s MLS® System in November 2017 amounted to 14,349 – up by 37.2 per cent compared to November 2016, when the supply of listings was very low from a historic perspective.

“We have seen an uptick in demand for ownership housing in the GTA this fall, over and above the regular seasonal trend. Similar to the Greater Vancouver experience, the impact of the Ontario Fair Housing Plan and particularly the foreign buyer tax may be starting to wane. On top of this, it is also possible that the upcoming changes to Mortgage lending guidelines, which come into effect in January, have prompted some households to speed up their home buying decision,” said Mr. Syrianos.

The MLS® Home Price Index (HPI) composite benchmark price was up by 8.4 per cent on a yearover-year basis in November 2017. The average Selling price for all home types combined was down by two per cent compared to November 2016, due in large part to a smaller share of detached home sales versus last year. On a year-to-date basis, the average selling price was up by 13.4 per cent compared to the same period last year. High density home types continued to lead the way in terms of price growth, with the average condominium apartment price up by doubledigits compared to November 2016.

“Changes in market conditions have not been uniform across market segments. In line with insights from consumer polling undertaken by Ipsos in the spring, we are still seeing seller’s market conditions for townhouses and condominium apartments in many neighbourhoods versus more balanced market conditions for detached and semi-detached houses. We will have more insights to share about consumer intentions for 2018 at the end of January when TREB releases its third annual Market Year in Review and Outlook report,” said Jason Mercer, TREB’s Director of Market Analysis.

Read the Complete Market Watch Report Here

  

 

 

The New Mortgage Rules can reduce your borrowing power by 20 - 25%. Act Now before it is too late!!

If you are looking to refinance or buy a home with 20% down, WATCH this video! Chris Turcotte, President & COO dives into the regulation change that happened yesterday and the impact it will have on you!

This regulation change can REDUCE your buying power but any contracts that are done before January 1, 2018, will be grandfathered in! Reach out to your CENTUM Mortgage Professional today if you have any questions or want to get a mortgage or refinance before the changes come into effect.

Visit www.centum.ca/Manoj_arora or call me now at 416.618.9753.

Increase in New Real Estate Listings in Greater Toronto Area and 35% drop in Home Sales, property prices still holding good in September 2017

TORONTO, ONTARIO, October 4, 2017 – Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 6,379 sales through TREB’s MLS® System in September 2017. This result was down by 35 per cent compared to September 2016.

The number of new listings entered into TREB’s MLS® System amounted to 16,469 in September – up by 9.4 per cent year-over-year.

“The improvement in listings in September compared to a year earlier suggests that home owners are anticipating an uptick in sales activity as we move through the fall. Consumer polling undertaken for TREB in the spring suggested that buying intentions over the next year remain strong. As we move through the fourth quarter we could see some Buyers moving off the sidelines, taking advantage of a better-supplied marketplace,” said Mr. Syrianos.

The average Selling price in September 2017 was $775,546 – up 2.6 per cent compared to September 2016. The MLS® Home Price Index (HPI) composite benchmark was up by 12.2 per cent on a year-over-year basis. A key reason for the difference in annual growth rates between the average price and the MLS® HPI composite is the fact that detached homes – the most expensive market segment on average – accounted for a smaller share of overall transactions this year compared to last.

“With more balanced market conditions, the pace of year-over-year price growth was more moderate in September compared to a year ago. However, the exception was the condominium apartment market segment, where average and benchmark sales prices were up by more than 20 per cent compared to last year. Tighter market conditions for condominium apartments follows consumer polling results from the spring that pointed toward a shift to condos in terms of buyer intentions,” said Jason Mercer, TREB’s Director of Market Analysis.

READ THE COMPLETE MARKET WATCH REPORT HERE

   

Greater Toronto Area Real Estate Sales decline by 34.8% in August 2017, home prices still up by 3% over August 2016

TORONTO, ONTARIO, September 6, 2017 – Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 6,357 home sales through TREB’s MLS® System in August 2017. This result was down by 34.8 per cent compared to August 2016.

The number of new listings entered into TREB’s MLS® System, at 11,523, was down by 6.7 per cent year-over-year and was at the lowest level for August since 2010.

“Recent reports suggest that economic conditions remain strong in the GTA. Positive economic news coupled with the slower pace of price growth we are now experiencing could prompt an improvement in the demand for ownership housing, over and above the regular seasonal bump, as we move through the fall,” continued Mr. Syrianos.

The average Selling price for all home types combined was $732,292 – up by three per cent compared to August 2016. This growth was driven by the semi-detached, townhouse and condominium apartment market segments that continued to experience high single-digit or double digit year-over-year average price increases.

The MLS® Home Price Index composite benchmark, which accounts for typical home types throughout TREB’s market area, was up by 14.3 per cent year-over-year in August. The fact that MLS® HPI growth outstripped average price growth, points to fewer high-end home sales this year compared to last.

“The relationship between sales and listings in the marketplace today suggests a balanced market. If current conditions are sustained over the coming months, we would expect to see year-over-year price growth normalize slightly above the rate of inflation. However, if some Buyers move from the sidelines back into the marketplace, as TREB consumer research suggests may happen, an acceleration in price growth could result if listings remain at current levels,” said Jason Mercer, TREB’s Director of Market Analysis.

READ THE COMPLETE MARKET WATCH REPORT HERE

Bank of Canada increases overnight rate target to 1 per cent

by Manoj Kumar Arora

Bank of Canada increases overnight rate target to 1 per cent

The Bank of Canada is raising its target for the overnight rate to 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

Recent economic data have been stronger than expected, supporting the Bank’s view that growth in Canada is becoming more broadly-based and self-sustaining. Consumer spending remains robust, underpinned by continued solid employment and income growth.  There has also been more widespread strength in business investment and in exports. Meanwhile, the housing sector appears to be cooling in some markets in response to recent changes in tax and housing finance policies. The Bank continues to expect a moderation in the pace of economic growth in the second half of 2017, for the reasons described in the July Monetary Policy Report (MPR), but the level of GDP is now higher than the Bank had expected.

Read the complete report at Bank of Canada's Website

 

Displaying blog entries 1-10 of 225

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Photo of Manoj Kumar Arora, Broker of Record Real Estate
Manoj Kumar Arora, Broker of Record
Ace Team Realty Inc., Brokerage
77 City Centre Drive, East Tower, Suite 501
Mississauga ON L5B 1M5
905-488-3101
1-888-355-3155
Fax: 1-888-443-3155

Contact Information

Photo of Manoj Kumar Arora, Broker of Record Real Estate
Manoj Kumar Arora, Broker of Record
Ace Team Realty Inc., Brokerage
77 City Centre Drive, East Tower, Suite 501
Mississauga ON L5B 1M5
905-488-3101
1-888-355-3155
Fax: 1-888-443-3155