So we have a healthcare issue, we have a housing issue, we have a crime issue and we have an education issue… what exactly do we not have an issue with in Canada?
A cross-Canada shortage of teachers is hitting a crisis level, experts warn, and while some COVID-era stopgap measures are being reintroduced, they say more sustainable solutions are needed. .
“Investors” that didn’t know about capped rental increases are now finding out that new rates are putting them in negative cash flow. What happens in September?
“mom and pop landlords” is a term of endearment used to elicit feelings of pity and compassion. There’s nothing mom and pop about most investors that bought rental properties in the last few years. Sorry not sorry
This needs to seen by all the people that are foaming at the mouth as rents are going higher and higher. Are you proud of your gains when you see this? Do you see the bigger problem or just cash flow? Housing is more than just an asset class
I’ve never ever had an election sign on my lawn because I never believed any politician was worth telling my neighbours about… that changed tonight!
#LetsFixIt
@StephenPunwasi
I was at a wedding last night. Met a couple, one was a realtor and the other a mortgage broker.
Them: “You marry the house but date the rate”
Me: ”You marry the price”
Them: “ummmm”
Shut it down real quick… enjoy the wedding and stop trying to fill your empty pipeline 🤯
Going to show a few properties tomorrow. Both sellers living in a market that doesn’t exist anymore.
First bought a year ago for 1.495 did nothing and thinks they can sell for 1.9 today
Second is listed 1.675 w/3 price drops BUT still 200k above current market
Waste of time?
PSA: if you’re a “builder” please please please stop doing this. I promise you this does not add value to your projects. Also, when you’re working on a project pay attention to what style sells in the neighborhood you’re working in.
Girouard was one of the stars of the reality TV show "Numéros 1."… asked her partner, Dauphinais-Fortin, "to generate promises to purchase that would enable her to approach buyers and invite them to increase their bids. /1
Agent 2021: “my marketing IS THE reason your home will sell at a record price”
Agent 2023: “my marketing IS NOT THE reason your home isn’t selling… it’s market conditions”
You can’t have you cake and eat it too…
Unless something drastically changes in the last 5 days of September, sales volume in the GTA is down biggly… for September to be below August in volume is telling. The summer is over, there are no more excuses - how do you spin this?
Serious question, since fraud is a criminal offense, why do we depend on RECO for investigation or punishment and not law enforcement? When does the police investigation come into the mix?
Yesterday as I made my way through customs at Pearson I couldn’t help but notice the huge lineup at the immigration. Many smiling faces of young students… hopeful and unaware of the challenges they will be facing /1
I’ve had to explain to someone today that buying a $500,000 1br condo in Timbuktu, being $700 cash flow negative monthly (on variable) while depending on appreciation IS NOT investing. He will lose the 5% deposit in no time… am I wrong?
This analogy is pile of garbage. Buying jeans and buying a home or investment is not the same thing by any stretch of the imagination. The sales person at the mall doesn’t owe you fiduciary duty and you’re not spending hundreds of thousands of dollars on the jeans.
Happy anniversary to us. The truth is marriage is not always easy but 3 kids and a whole lot of chaos later we’re still walking hand in hand. The yin to my yang ❤️
Whoever came up with the concept of a property ladder and sold it to the masses is a marketing genius and probably sold real estate. Move every 3-7 years dreaming of climbing this mythical ladder until you reach real estate glory while taking on more debt every step you take!
TIP OF THE DAY: If the agent you hired to sell your house is calling the listing agent from when you bought asking for their listing photos… FIRE that agent they’re bringing nothing to the table
Coming home last night to find this gift on my doorstep deeply moved me… the mosque down the street has been the target of hate YET delivered this message of unity.
So I will leave this right here with the same message “Love for ALL Hatred for None”
Merry Christmas
If you want to make a difference you have to do more than pay lip service … so I decided to give my time over the next 2 years to something that’s important to me. Professional Standards 😱
It’s not buyers confidence that’s back to the market, get it straight, it’s buyers fear … perpetuated by posts focused on the number of offers instead of the final results.
Interest Paid Over 2 Years:
$111,850.54
Principal Repaid Over 2 Years
$25,008.50
If the only reason you’re buying a property is because you think you’re building equity or it’s forced savings please reconsider.
Number of offers being posted on social media by agents for their grossly under priced listing on offer night is as much a vanity metric as the number of followers they have.
Congratulations for the number of offers and my condolences for not reaching last comp sold price 🫶
Agent: NO HIKE!
Consumer: Right but the US is still increasing which will crush the value of our dollar. Guess what happens to the cost of our goods we import?
Agent: Maybe look at the positive in todays announcement vs trying to find the negative 🙄
So this just happened…
“I am writing to you to announce the permanent closure of the office at xxx and my family practice effective April 26, 2024.”
Not retirement… 3 doctors in the practice. Lease was coming up for renewal, 20 year practice and hundreds of patients.
GTA Realtor Facebook group members are starting to ask each other:
“Is it just me or has showings dropped considerably in the past week in the GTA?”
Could it be Easter long weekend, the eclipse or mercury retrograde? 😂
I’ve always been vocal about bad practices in our industry because I refuse to believe there’s no hope.
I’m calling for your voices to demand change as a grassroots movement from within.
Letters from
@TheReal_TRREB
and
@OREAinfo
are meaningless damage control.
First Time Home Buyers IF you answer NO to any of these questions reconsider your home search:
1) do you need to move?
2) did you find a house you love & can love for 5-10yrs?
3) can you carry payments at higher rates for up-to 5yrs?
4) have you considered worst case scenario?
Selling your home in this market? Here are 3 things to consider
1) Past sales don’t matter-price is moving target
2) Your home is worth what a buyer is willing to pay
3) Revisit your price every 2 weeks
Bonus: Hire an agent with experience in a down market
Agent: I made my clients money all these years!
Me: But you encouraged them to over leverage because RE always goes up and now they’re in trouble
Agent: they made their own decision it’s not my fault 🤬
Me: You do understand that you can’t suck and blow at the same time right?
Do people educate themselves before buying a residential rental property in Ontario? I’ve dealt with 2 such investors this week and I will have to say that the answer is NO!
@LindaForCD5
@NimbyPatrol
What???? I live in the city, you park where you can and wherever is available. Rude is to assume your house has a right to the public spot on the road. As long as you don’t block a driveway park wherever you can!
The manner in which realtors conduct themselves and interact with others influences the public's opinion of, and confidence and trust in, our abilities and integrity... shit like this needs to be punished for hurting consumers and industry alike.
@Make_It_Right
My son is 13 and wants to be a plumber. I’ve encouraged him to get into trades and apprenticeship programs in high school. The stigma comes from our generation not his
Twice in 2 days I’ve come across listing agents that have a property listed artificially low for MONTHS with NO offer day. When I called to inquire about an offer BOTH told me their clients expected WAY more!!
One went as far as putting this in his listing after our “chat”
The number of active listings (+169%) and property days on market (PDOM 110.5%) tell a story… the story that properties aren’t moving.
Yes, new supply isn’t coming on but how about the old supply just sitting?
I’ve already seen a few agents brag about their “new” listings this week. It’s time for expired or terminated listings from 2023 to be recycled as “new” listings 🎉
Buy pre-construction by using HELOC from primary residence for the down payment.
Extra points: you can always flip on assignment and make big gains on your initial investment … you don’t have to close 🫡
Canada's Health Care Crisis:
If you're frustrated by the lack of kids' meds at pharmacies, you need to listen to pharmacist
@KyroMaseh
He says this is an emergency and a failure for Canada to not have medications for its children
Sellers let this be clear: no amount of marketing or foot traffic will get you yesterdays price today BUT if you’re lucky a buyers agent that doesn’t know what they’re doing will get you close to it. Sellers be thankful for inexperienced buyers agents right now.
The Real Estate industry is under attack from many different directions right now. The situation has been further complicated by the recent downturn, negative press and social media. With little oversight we find ourselves in a position where we have to police our own ranks./1
I’ve spent some time helping a teen girl try to find shelter. Here’s what I’ve discovered:
1) Shift sharing a BR at VP and Eglinton is $550/mo
2) private room at Woodbine and Danforth $800/mo- owner refused the visit b/c she asked if I can join to inspect
World class they say…
There are 9 precursors that alert you that falling prices may be ahead or are here.
Those 9 precursors are:
1Showing activity declines
2Days on market increases
3Open house traffic drops off substantially
Agents please stop using “top producer” as a descriptor … we don’t produce anything we provide a service… unless you consider FOMO and social media videos as production ✌🏻
IS THIS what we’ve become?
Farsoud said his quality of life is not the reason he is applying for MAiD. He applied because he is currently in danger of losing his housing and fears being homeless over dying. “It’s not my first choice.”
@RE_MarketWatch
FYI - sold prices of deals that did not closed are being suppressed so that there is no public record of the original sold price. Noticed this on one I looked up in Mississauga today.
Almost 4 yrs ago I quit drinking. I’ve learned to listen to my gut and to deal with stress in more constructive ways. My BS meter is off the charts and my tolerance for it is non existent.
So don’t mind me if I retreat from real estate circles and chit chat from time to time 😅
Top real estate industry publication today: “Buyers want an agent who is positive that she can help them find the perfect home instead of an agent who talks about how bad interest rates are…Choose your attitude wisely because negative agents will be crushed by this market.”
In short, “date the rate marry the house” is deceptive advertising.
An honest analogy: “Marry the house, marry the rate. You can get divorced from your rate in the future and marry a new rate, but it will cost you a lot of money in fees and interest…”
Quick PSA: if your realtor can’t figure out how to open and close a lockbox chances are they don’t have enough experience to represent you on this journey
I am literally laughing my ass off 😂😂😂😂😂
“The dog at the above address will be fully restrained from interfering and potentially injuring any Canada Post employee during delivery”
Canada Post thank you for delivering the laughter to our house today 😂😂
Some agents think they can say whatever they want on social media without any consequences (I dare 🫵 to try and use this against me again). They act like they're above the rules while using threats, social pressure among other more sinister tactics to silence desruptors.
There's a lot of talk about the precon assignment market... Let's not forget: an assignor's (sellers) responsibility never truly disappears - even if they assign a sale to a new buyer. Food for thought...
True love is when your husband puts on your winter tires even though he told you to go do it last week at the dealership but you procrastinated…
“… You don't need diamond rings or eighteen karat gold
Fancy cars that go very fast, you know they never last, no, no”
How to create urgency for buyers:
“Your payments at current rate will be x. If you wait a couple of months with new rates your payments will be y”
Failing to mention that prices are going down by z amount monthly.
Voila! Urgency!
When it comes to real estate, it's said that there are 3 things that matter: "location, location, location"
But there's a 4th thing that trumps all of those: TIMING
“The truth is, we do not expect a significant rise in homeowner insolvencies until mid- to late-2023. Why? Because there is a significant time lag between when interest rates rise and when the resulting costs become financially unbearable.”
It takes courage to call the bottom when sales volume is low. I salute the brave souls of the industry that have been calling bottom last few weeks (or longer). Some have called it with data and others with anecdotes. Thank you for your service folks 🫡