REM Editorial Team, Author at REM https://realestatemagazine.ca/author/admin/ Canada’s premier magazine for real estate professionals. Mon, 09 Sep 2024 22:10:10 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://realestatemagazine.ca/wp-content/uploads/2022/09/cropped-REM-Fav-32x32.png REM Editorial Team, Author at REM https://realestatemagazine.ca/author/admin/ 32 32 Metro Vancouver home sales remain below seasonal averages as market finds balance: GVR https://realestatemagazine.ca/metro-vancouver-home-sales-remain-below-seasonal-averages-as-market-finds-balance-gvr/ https://realestatemagazine.ca/metro-vancouver-home-sales-remain-below-seasonal-averages-as-market-finds-balance-gvr/#respond Tue, 10 Sep 2024 04:02:41 +0000 https://realestatemagazine.ca/?p=34174 The market remains below the 10-year seasonal average but with increased inventory and balanced conditions, will the fall bring more buyers back?

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Last month’s Metro Vancouver home sales stayed below 10-year seasonal averages, according to the Greater Vancouver Realtors (GVR). The region’s residential sales totalled 1,904, marking a 17.1 per cent decline from the 2,296 sales the year before and 26 per cent less than the 10-year seasonal average (2,572).

“From a seasonal perspective, August is typically a slower month for sales than June or July. In this respect, this August has been no different,” Andrew Lis, GVR’s director of economics and data analytics explains. “With that said, sales remain in a holding pattern, trending roughly 20 per cent below their 10-year seasonal average, which suggests buyers are still feeling the pinch of higher borrowing costs, despite two recent quarter percentage point reductions to the policy rate this summer.” 

 

Buyers’ hesitancy + new listing activity result in accumulated inventory & balanced market conditions

 

4,109 new listings for detached, attached and apartment properties were on Metro Vancouver’s MLS in August, a 4.2 per cent increase from the 3,943 properties listed the year before. Despite the increase, the total was 1.7 per cent below the 10-year seasonal average (4,179).

The total number of properties listed for sale stands at 13,812, a 37 per cent rise from August 2023’s total of 10,082 and 20.8 per cent above the 10-year seasonal average of 11,432.

For all property types, the sales-to-active listings ratio in August was 14.3 per cent. By category, it was 9.6 per cent for detached homes, 18 per cent for attached homes and 17.2 per cent for apartments.

“Buyers’ hesitancy to enter the market, paired with new listing activity on the part of sellers that is in line with historical averages, has allowed inventory to accumulate for a number of months and has moved the market firmly into balanced conditions,” Lis notes.

He says that with the Bank of Canada reducing the policy rate this month by another quarter percentage point, and with September being a time that often sees more seasonal sales, the fall market should bring more buyers off the sidelines.

 

Where prices landed

 

The composite benchmark price for all residential properties in Metro Vancouver currently sits at $1,195,900, 0.9 per cent less than August 2023 and 0.1 per cent less than July 2024.

By property type, detached home sales reached 509, a 13.9 per cent decline from 591 the year before. Apartment sales totalled 1,012 in August, 20.3 per cent less than the 1,270 sales in August 2023 and attached homes totalled 370 sales last month, 12.3 per cent less than the 422 sales of the prior year.

 

Review the full report here.

 

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Speaker lineup: Boost your business while making a real difference on Sept. 12 https://realestatemagazine.ca/speaker-lineup-boost-your-business-while-making-a-real-difference-on-sept-12/ https://realestatemagazine.ca/speaker-lineup-boost-your-business-while-making-a-real-difference-on-sept-12/#respond Mon, 09 Sep 2024 22:05:44 +0000 https://realestatemagazine.ca/?p=34238 REM Editorial Teamrealestatemagazine.ca

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On September 12th from 11 AM – 3 PM EST, you’re invited to join us for a virtual conference and be part of something bigger.

 

Grow your business while giving back: Help raise much-needed funds for SickKids Foundation

 

This isn’t just another conference. This is a chance to grow your business with insights from top-tier speakers while helping Bruce Johnson cross the finish line on his incredible mission to raise $1,000,000 for SickKids, in memory of daughter, Alyssa Rae Johnson.

 

Why this matters 

 

Bruce’s story matters. He’s raised $900,000 so far, and now he’s battling stage 4 lung cancer. With your help, we’re pushing to get him to that $1 million mark. 100 per cent of ticket sales go directly to the SickKids Foundation through Bruce’s campaign.  

Every speaker. Every bonus. Every dollar. All for a great cause. This is your opportunity to grow AND give back. 

Together, we can make a difference — for your business, for Bruce, and for kids in need of lifesaving care at SickKids. 

 

Speaker lineup

 

Check out our top real estate & marketing expert speaker lineup and walk away with actionable strategies to boost your business. 

 

Andrew Perrie

 

Andrew Perrie is a luminary in the realm of real estate who stands as a beacon of charisma, leadership and inspiration. With over five years of unparalleled experience, he has not only established himself as a triumphant real estate team leader but has also ascended to the pinnacle of oratory prowess, captivating and motivating audiences on stages of all sizes.

From his early days, Andrew’s innate ability to forge connections and genuinely understand clients’ needs sowed the seeds of his flourishing career. This passion evolved into the creation of his own real estate team in Niagara-on-the-Lake and Muskoka, where his unwavering dedication to both clients’ triumphs and the team’s expansion earned him acclaim as a charismatic and results-driven leader.

Beyond his undeniable real estate acumen, Andrew’s exceptional gift for simplifying intricate concepts and inspiring through his podcast, “That Fine Life,” further solidifies his standing. His influence extends to the digital realm, where he has amassed a substantial and engaged following, emphasizing the importance of personal branding in today’s digital landscape. Andrew’s journey is marked not only by personal achievements but also by his fervent commitment to mentoring aspiring real estate professionals, making him a true luminary in the industry.

 

Justin Konikow

 

Justin Konikow is a visionary leader and co-owner of Prime Real Estate Brokerage and PRIME Media Productions, where he’s known for turning the industry on its head with innovative strategies and a fresh perspective. With decades of experience in the real estate market, Justin has become a national thought leader and sought-after speaker, guiding agents, developers and investors on mastering the art of market domination. His expertise spans luxury and waterfront properties, commercial investments and cutting-edge media production, making him a triple threat in the industry.

Justin owns one of the only firms that touch all aspects of real estate, a concept he calls “focused diversification.” His firm handles residential, commercial, investment, agricultural, land and recreational properties, cross-pollinating clients across these asset classes to offer a truly comprehensive service. His team operates like a Navy SEAL unit, assembling a tactical group of specialists, tailored to each client’s needs, all guided by the same core values, mission statement and decentralized command.

Beyond his role as a top real estate agent, Justin is a successful entrepreneur, content creator, and host of the Prime People Podcast, where he dives into the intersection of real estate, entrepreneurship and personal development. His work is a blend of sharp business acumen and creative storytelling, leveraging the latest in technology and social media to reach and engage a global audience.

 

Kelley Skar

 

Kelley is a second-generation realtor, Max/Recruit real estate coach and real estate trainer with a proven track record, as well as an international speaker.

He knew early on in life that he was going to be an educator. Kelley started in university with the goal of becoming a high school teacher; however, life took him in a different direction. His passion for learning and educating has never left and as a result, he’s a dedicated learner and a student of history, business and life. His passion lies in high-level discussion around business strategies and helping agents & brokers build a bigger, better, highly profitable real estate business.

He has been married to his beautiful wife for over 17 years and they have smart, athletic and articulate 15-year-old twins. They enjoy hiking through the Okanagan, spending time at the beach and on the lake as well as travelling the continent and hopefully at some point, the globe. He loves to play golf, work out in the gym, hang out with friends and take in Green Bay Packers football games — as a huge fan.

One of his favourite quotes comes by way of Jocko Willink: “Getting better isn’t about a hack or a trick or one change that you need to make. Getting better is a campaign. It’s daily, weekly, an hourly fight. Against weakness, temptation & laziness. It’s a campaign of discipline. A campaign of hard work and dedication. It’s about getting up early, going to bed late and grinding out every second in between!”

 

Jess Lenouvel

 

Jess Lenouvel is an author, speaker, media contributor and founder of The Listings Lab. A real estate marketing and business scaling vanguard, she made the decision to stop selling after 13 years in the business and help agents create scalable, sustainable businesses by creating relationships at scale. The Listings Lab was founded in 2018 and Jess and her team have shown over 20,000 agents how to build scalable, sustainable businesses for the digital era that don’t require a choice between lifestyle and financial freedom.

A sought-after media expert on real estate marketing, Jess and The Listings Lab method have been featured in Forbes and Entrepreneur, and she has spoken at the Berkshire Hathaway Home Services Sales Convention for 55,000 agents.

When she isn’t helping agents grow their businesses across the company’s three programs, she’s probably snuggling up with a cat, eating peanut butter and watching a British crime drama.

 

Tony Joe

 

Located in Victoria, British Columbia, Tony has been selling real estate since 1991 and has earned production awards including VREB Gold, Special Gold and President’s Awards as well as Re/Max Diamond, Circle of Legends and Western Canada Special Services Award (2009). Tony was president of the Victoria Real Estate Board in 2008 and of AREAA (the Asian Real Estate Association of America) Vancouver 2015-2019.

He’s an Instructor for the B.C. industry regulator (BC Financial Services Authority), a subject matter expert for the B.C. Real Estate Association and a certified coach for Richard Robbins International. Systems and processes allow Tony to run a hyper-productive yet small team while being massively active in his community, serving on several community boards and fundraising initiatives while balancing abundant family time and an exciting personal life. His radio show, The Whole Home Show, airs weekly on iheartradio.ca and its podcast can be found on iTunes and elsewhere.

 

The Leads are Sh*t

 

Taylor Hack

 

Taylor Hack is so dedicated to saving families from 3-star experiences in real estate that the team he leads, HACK&CO @ Re/Max River City, became the most-reviewed real estate team in Edmonton, Alberta on rankmyagent.com.

A passionate entrepreneur, Taylor is considered notable within the real estate industry for his creative business solutions and strategy. In less than three years, Taylor broke into the top 2 per cent of Re/Max Agents in the world and was asked to appear on stage throughout North America, featured as a Top-35-Under-35 in Real Estate Professional Magazine, and honoured as a finalist for Real Estate Innovator of the Year by Inman.

As a dedicated team leader, Taylor has helped HACK&Co teammates achieve rare experiences in real estate that are hallmarks of performance, such as making million-dollar listings and Top Teammate rankings and becoming strong providers for their families.

 

Andrew Fogliato

 

Andrew Fogliato has been in the real estate industry since you still had to physically print out six copies of an offer plus a clean one for the lawyer when the deal was done.

He’s worked as an agent, a trainer for one of the big brands, a proptech consultant, a marketer, a speaker and more.

Now he owns Just Sell Homes, a real estate marketing agency specializing in helping realtors grow their business, and RealEstateMagazine.ca, the premier news source for Canadian realtors.

 

Learn more or get your tickets for the Sept. 12th event.

 

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August shifts throughout Calgary’s housing market: CREB https://realestatemagazine.ca/august-shifts-throughout-calgarys-housing-market-creb/ https://realestatemagazine.ca/august-shifts-throughout-calgarys-housing-market-creb/#respond Fri, 06 Sep 2024 04:01:05 +0000 https://realestatemagazine.ca/?p=34151 “Rising new home construction and gains in new listings are starting to support a better-supplied housing market … but supply levels remain low”

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Last month, Calgary’s market continued to move from the strong seller’s market conditions of the spring, the Calgary Real Estate Board (CREB) reports. More inventory and fewer sales brought months of supply to more than two months, a level unseen since 2022.

“As expected, rising new home construction and gains in new listings are starting to support a better-supplied housing market,” says Ann-Marie Lurie, chief economist at CREB. “This trend is expected to continue throughout the remainder of the year, but it’s important to note that supply levels remain low, especially for lower-priced properties. It will take time for supply levels to return to those that support more balanced conditions.”

 

More inventory driven by higher-priced properties; fewer sales thanks to lower-priced properties

 

Last month’s inventory reached 4,487 units, 37.3 per cent higher than the year prior but almost 25 per cent lower than long-term trends for August.

Higher-priced properties mostly drove these gains, with more new listings and less sales, at 2,186 — 19.5 per cent less than 2023’s record high yet 17 per cent higher than long-term averages for August. Sales declines were for homes priced below $600,000.

August’s unadjusted residential benchmark price was $601,800, 6.3 per cent higher than last year and slightly lower than last month. The average benchmark price rose by 9.0 per cent year-to-date.

 

Detached homes

 

Compared to a year ago, detached home sales fell by 14 per cent. August saw 2,011 detached homes in inventory, with over 85 per cent priced above $600,000, helping push the months of supply up to nearly two months.

August’s unadjusted detached benchmark price was $762,600, just under last month but over 9.0 per cent higher than last year.

 

Semi-detached homes

 

For semi-detached properties, the region saw 297 new listings and 172 sales, with a sales-to-new-listings ratio drop to 58 per cent that supported increased inventory and a months of supply jump to nearly two months.

This category’s August unadjusted benchmark price was $681,200, a drop from July but almost 10 per cent higher than last year.

 

Row homes

 

Last month, new listings for row homes priced above $400,000 added to year-to-date growth of about 16 per cent, while slower sales over the past quarter also boosted inventory gains. There were 660 row home units available, a 75 per cent increase over particularly low levels reported last year.

This category’s unadjusted benchmark price in August was $461,700, slightly lower than last month but over 12 per cent higher than the year prior.

 

Apartment condominium homes

 

August’s new listings of apartment condominium homes reached 1,001, a record high for the month. This was paired with declining sales, which caused the sales-to-new-listings ratio to fall to 60 per cent and inventories to rise to 1,476 units, with months of supply to rise to about two and a half months.

The month’s unadjusted benchmark price was $346,500, similar to July’s and almost 16 per cent higher than 2023’s prices.

 

Review CREB’s full reports for the city and region.

 

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A balanced Greater Vancouver market with modest price growth predicted in 2024 H2: GVR https://realestatemagazine.ca/a-balanced-greater-vancouver-market-with-modest-price-growth-predicted-in-2024-h2-gvr/ https://realestatemagazine.ca/a-balanced-greater-vancouver-market-with-modest-price-growth-predicted-in-2024-h2-gvr/#respond Thu, 05 Sep 2024 04:02:02 +0000 https://realestatemagazine.ca/?p=34128 Greater Vancouver's housing market is heading toward balance in 2024 H2, with steady sales, increased inventory and modest price appreciation expected

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Last week, Greater Vancouver Realtors (GVR) released its 2024 second-half (H2) housing forecast, which reviews new dynamics impacting the market along with economic trends that informed the first half of 2024.

Here are some highlights of what GVR expects for the second half of the year.

 

Sales and price forecasts

 

This year, GVR sales and price forecasts are almost exactly on target, but market balance has shifted from favouring sellers at the year’s start towards more balanced conditions.

GVR’s 2024 first-half (H1) forecast predicted that sales across Greater Vancouver would jump by about 8.0 per cent compared to 2023 (28,250 by year-end).

Sales from January to July this year totalled 16,227, with the prediction being 16,256 — a 0.18 per cent difference. GVR is keeping its year-end sales prediction as-is.

So far, aggregate price metrics have shown slight increases as the H1 forecast predicts, driven by steady sales combined with near-record-low inventory levels at 2024’s start. With these levels rising throughout the past few months, most aggregate price metrics are trending sideways or slightly downward.

Yet the median differential between the list price and sale price for all GVR properties has trended at a close to 2.0 per cent discount since the start of the year.

In the near term, GVR’s outlook for the year’s second half is a balanced market that continues to support modest price appreciation by year-end. The organization keeps its outlook of price appreciation in the 1.0-4.0 per cent range across market segments to year-end.

 

Inventory

 

As sellers stay keen to list their properties, Greater Vancouver hasn’t seen such inventory level highs since 2019. Compared to 2023 levels, this boost has been the biggest surprise in H1 data.

The main drivers behind this trend are a result of steady demand from buyers along with higher-than-expected new listing activity levels, which isn’t of concern to GVR right now. The sense is that increased inventory might be positive, especially for buyers, as it signals a return to more balanced market conditions.

Though sales are below their 10-year average, they’re not the lowest seen before and this isn’t a new trend. Newly listed properties are meeting or exceeding historical averages, which has resulted in accumulated inventory thanks to below-average sales.

GVR found that many factors have contributed to the new listing activity boost, including the fact that early 2023 had lower-than-normal new listing activity and sellers who waited to sell then are possibly doing so this year.

 

Interest rate cut impacts

 

GVR says that while additional reductions to the Bank of Canada’s policy rate are expected this year, it may take longer to see increased buyer demand.

This is suggested by the fact that while the H2 forecast favours another 50-basis point reduction to the policy rate, buyers showed a lack of response to the 50-basis point reduction in H1.

 

Review the full H2 forecast here.

 

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Re/Max Preferred Realty acquires Re/Max Chatham-Kent Realty https://realestatemagazine.ca/re-max-preferred-realty-acquires-re-max-chatham-kent-realty/ https://realestatemagazine.ca/re-max-preferred-realty-acquires-re-max-chatham-kent-realty/#respond Thu, 05 Sep 2024 04:01:41 +0000 https://realestatemagazine.ca/?p=34103 “We’re excited about this next chapter of growth and the opportunity it provides us with, to build lasting relationships with clients in these communities”

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Glen Muir, broker/owner of Re/Max Preferred Realty in Windsor-Essex County, Ontario, has recently acquired Re/Max Chatham-Kent Realty.

Muir, who founded Re/Max Preferred Realty in 1992, has 46 years of industry experience.

 

The expansion

 

The expansion will allow Re/Max Preferred Realty to broaden its presence in the Chatham and Tilbury markets, with the addition of two new office locations and 17 real estate agents. Now, Re/Max Preferred Realty hosts a network of 175 agents across six offices. 

Muir brings his sales team, including managers Denny Laurin, with 33 years of local market expertise, and his son, Gord Muir, with 11 years of industry experience.

 

Moving forward

 

Muir remains committed to providing his agents with all the support, tools and resources they need for their continued success at Re/Max. “We are excited about this next chapter of growth and the opportunity it provides us with, to build lasting relationships with clients in these communities,” he shares.

Muir says he looks forward to helping the Re/Max brand secure the Chatham-Kent region’s top market share spot for many years to come.

 

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Top cities for Torontonians to ‘rentvest’ in + smart strategies to build equity in today’s market https://realestatemagazine.ca/top-cities-for-torontonians-to-rentvest-in-smart-strategies-to-build-equity-in-todays-market/ https://realestatemagazine.ca/top-cities-for-torontonians-to-rentvest-in-smart-strategies-to-build-equity-in-todays-market/#respond Wed, 04 Sep 2024 04:01:51 +0000 https://realestatemagazine.ca/?p=34060 Buyers wanting to stay in Toronto yet build equity could invest in an affordable city, rent it out & put profits toward their dream home

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In today’s pricey Toronto real estate market, buying a home can feel like an impossible dream. So for those who love city life but want to build equity, “rentvesting” is a strategy worth considering.

Rentvesting involves purchasing a more affordable property in another city and renting it out for income while continuing to live as a tenant in a preferred city like Toronto. Over time, the rental income and property appreciation help build equity, which can be used for a down payment on a home in Toronto down the road.

Zoocasa looked into the top cities most Torontonians could afford to buy and where investments could likely turn a profit.

 

Best cities for Torontonians to rentvest in a condominium

 

To determine the best cities for Torontonians to rentvest, the study analyzed the maximum mortgage amount affordable ($275,402) on an average Toronto income ($62,050), then compared condominium prices and rents across Canada.

Torontonians could make profitable investments in several cities, including Edmonton ($163,452) and Regina ($183,630), where average condominium prices fall well within this range. 

The study notes that Etobicoke is home to the highest average annual income of the six GTA cities analyzed and, as a result, those residents can afford the largest mortgage amount ($307,137). On average, they’re a few hundred dollars short of affording a condominium in Brantford Region and Windsor-Essex, or potentially in Oshawa (which has an average price of $420,575 and a total mortgage amount of $336,460). 

 

Profitable Investments. In cities like Edmonton, investors can earn substantial monthly profits. With average rents at $1,553 and mortgage payments at $886, the potential for monthly gains is $667. Calgary is another great option, with potential gains of $474 per month due to the difference between rent ($1,954) and mortgage payments ($1,480).

Regina, Saskatoon, Winnipeg, Ottawa and Halifax-Dartmouth also offer opportunities for positive monthly cash flow, making them attractive for rentvesting.

 

Is rentvesting right for your clients?

 

Before diving into rentvesting, it’s crucial your clients understand what comes with it:

Higher down payments and stricter criteria. Investment property mortgages typically require at least a 20 per cent down payment and have more stringent credit score and debt-to-income ratio requirements compared to traditional mortgages.

Tax implications and benefits. While the First Home Savings Account (FHSA) cannot be used to purchase investment properties, there are potential tax benefits. Investors can often deduct mortgage interest, property taxes, insurance and maintenance costs from their rental income.

Management responsibilities. Owning a rental property comes with the responsibility of managing tenants, complying with local regulations and handling unexpected repairs. It’s important to factor in these duties when considering rentvesting.

 

For those willing to think creatively and take a strategic approach, rentvesting offers a pathway to achieving homeownership dreams in Toronto while building a solid financial foundation through real estate investments.

 

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Canadian housing market shows signs of stability as interest rates begin to decline: Re/Max https://realestatemagazine.ca/canadian-housing-market-shows-signs-of-stability-as-interest-rates-begin-to-decline-re-max/ https://realestatemagazine.ca/canadian-housing-market-shows-signs-of-stability-as-interest-rates-begin-to-decline-re-max/#respond Tue, 03 Sep 2024 08:00:49 +0000 https://realestatemagazine.ca/?p=34085 With interest rates finally easing, the Canadian housing market is showing signs of renewed activity. But is it enough to overcome ongoing affordability challenges?

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As the long-awaited decline in interest rates begins to take shape, early insights from Re/Max brokers and agents nationwide suggest the fall’s housing market activity will be steady. According to Re/Max’s 2024 Fall Housing Market Outlook, average sale prices for all housing types are expected to increase between one and six per cent in most regions by the end of the year.

With the next Bank of Canada (BoC) interest rate announcement scheduled for September 4, many Canadians are watching closely. A recent Re/Max survey reveals that 16 per cent of Canadians would feel more comfortable entering the real estate market if the BoC implements a rate cut of more than 100 basis points by the end of the year.

“The fall market is usually a good early indicator for activity as we look ahead to early 2025, and we’re headed toward more healthy territory. With interest rates starting to ease, buyers are beginning to come off the sidelines,” says Christopher Alexander, president, Re/Max Canada. 

However, Alexander notes that while the market is showing signs of life, it won’t necessarily return to historical activity levels without a more substantial move from the Bank of Canada.

 

Consumer confidence on the rise with remaining challenges

 

As anticipation builds around further potential interest rate cuts, first-time homebuyer confidence is notably increasing. The survey found that 25 per cent of Canadians are actively saving for a home and believe they will soon be able to purchase, with the most optimism seen among younger Millennials and Gen Zs aged 18-24 (35 per cent).

On the other hand, some current homeowners may find that the rate cuts come too late. 14 per cent of homeowners facing mortgage renewal at higher rates are considering selling their homes due to affordability challenges.

Financial priorities for many Canadians remain focused on day-to-day expenses, such as utilities and food (58 per cent), and travel (45 per cent), with home purchases ranking among the top three priorities for 25 per cent of respondents. Meanwhile, affordability concerns are prompting 28 per cent of Canadians to consider relocating to another country, and 25 per cent are reconsidering starting a family.

 

Affordability and supply remain key concerns

 

“Despite some consumer confidence starting to return to the market this season, the reality is Canadians are still grappling with some serious housing affordability challenges rooted in lack of supply. Yes, borrowing is becoming less expensive, but this won’t make housing affordable in the long run,” says Alexander.

As more buyers re-enter the market and available inventory is absorbed, Alexander warns of potential upward pressure on prices. He stresses the need for a comprehensive national housing strategy developed collaboratively by all levels of government to address supply shortages strategically.

“In the meantime, buyers would be wise to work with an experienced real estate agent to help navigate those cyclical market ups and downs that often accompany this push and pull of supply and demand.”

 

Review the full report, including regional insights.

 

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Mariman Homes’ license revoked by Ontario’s HCRA https://realestatemagazine.ca/mariman-homes-license-revoked-by-ontarios-hcra/ https://realestatemagazine.ca/mariman-homes-license-revoked-by-ontarios-hcra/#respond Tue, 03 Sep 2024 04:01:10 +0000 https://realestatemagazine.ca/?p=34070 “This builder's past and present conduct raises serious doubts about its ability to operate their business lawfully and with honesty and integrity"

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Recently, the Home Construction Regulatory Authority (HCRA) revoked Mariman Homes’ license to build and sell homes in Ontario. This is the strictest action the authority can take against a licensed builder.

 

What happened

 

Due to complaints from purchasers, the HCRA suspended the Hamilton builder’s license last December. An inspection showed it had entered into agreements of purchase and sale for 108 homes without proper authorization and enrollment in Tarion’s warranty program (a requirement to legally build and sell homes in Ontario).

Also, the HCRA discovered that Mariman had allowed its creditors to seek improper price increases from purchasers and failed to hold the deposits it received in trust (as was required under the company’s purchase agreements).

To minimize the impact on purchasers, the HCRA gave Mariman the chance to enroll the homes and prove it could complete construction within the timeframe and price it had committed to. This was done to find a solution that would still allow purchasers to obtain their homes.

 

Unmet commitments result in revoked license and fines of $400,000

 

When Mariman was unable to satisfy its commitments, the HCRA revoked its license and ordered it to pay $400,000 in administrative penalties. In the end, the company sold over 100 homes it was not authorized to sell.

“Given these infractions, including a history of financial mismanagement, the HCRA has revoked Mariman’s license to build and sell new homes,” says Wendy Moir, chief executive officer and registrar of the HCRA. “This builder’s past and present conduct raises serious doubts about its ability to operate their business lawfully and with honesty and integrity.”

 

A ‘textbook example of why builders and sellers must go through the licensing and enrollment process’

 

Moir stresses, “This is a textbook example of why builders and sellers must go through the licensing and enrollment process. These standards are designed to ensure builders have the competency and financial capability to operate a business before they collect money from purchasers.”

 

Mariman is currently undergoing receivership proceedings in the Ontario Superior Court of Justice. Tarion is monitoring the situation for any impact on deposit protection coverage for purchasers.

 

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Realtor Bruce Johnson’s final journey to raise $1 million for SickKids in memory of his daughter https://realestatemagazine.ca/realtor-bruce-johnsons-final-journey-to-raise-1-million-for-sickkids-in-memory-of-his-daughter/ https://realestatemagazine.ca/realtor-bruce-johnsons-final-journey-to-raise-1-million-for-sickkids-in-memory-of-his-daughter/#respond Fri, 30 Aug 2024 04:03:01 +0000 https://realestatemagazine.ca/?p=34012 Discover how Johnson’s determination and love for his late daughter, Alyssa Rae, have impacted children’s healthcare and how you can help

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Bruce Johnson, realtor and salesperson with Wasaga Bay, Ontario’s Re/Max By The Bay Brokerage has been a strong supporter of the Children’s Miracle Network and brought in hundreds of realtors worldwide to support their children’s hospitals.

 

A heartbreaking journey

 

As his career began in 1997, Johnson signed up to be a Miracle Agent for the Children’s Miracle Network, donating a portion of every home sale to his local children’s hospital. Shortly after, he and his wife, Mary, learned that they were expecting their firstborn child.

Alyssa Rae was born on November 17, 1998, and was immediately rushed to the Neonatal Intensive Care Unit at SickKids Hospital in Toronto with a rare condition known as omphalocele, where organs had grown outside of her body. Her condition was further exacerbated by an exposed heart and issues with her lungs and brain. After three weeks of fighting for her life, on Sunday, December 6, Alyssa passed away.

“We had her for 20 days, and that itself is a miracle. Without SickKids, that would not have happened,” shares Mary.

Mary and Johnson welcomed their second daughter, Holly, and youngest, Jocelyn. Both children also needed treatment from SickKids.

 

Turning grief into action: The birth of ‘Motorcycle for Miracles’

 

In 2013, a promise made during one of Holly’s eye surgeries at SickKids turned a planned father-daughter adventure into a fundraiser in memory of Alyssa known as “Motorcycle for Miracles.”

Fundraising began in Wasaga Beach and included the pair riding their motorcycle to Costa Rica to raise money for the Alyssa Rae Johnson Fund at SickKids, supporting high-priority needs in medical research, education and patient care — from stubborn cancers and involved heart conditions to rare diseases and more.

Realtorscare.ca

 

Over the next six years, with the support of their whole family, Johnson and Holly took an additional two trips: Canada to Costa Rica was followed by Newfoundland to British Columbia and then the “Ends of the Earth” ride spanning the Americas — from the Northwest Territories to Argentina.

“These kids are the toughest human beings on earth. They really are. And they haven’t done anything to deserve to be in the hospitals,” says Johnson. “That’s the steel in our spines that kept us going through stuff that most people would stop for.”

 

60,000 kilometres for kids: Spreading hope across the Americas

 

Along their routes, Johnson and Holly met with local agents and brokerages at each stop, to speak with them about the impact of realtor-driven donations and raising money for the Children’s Miracle Network. They also encouraged realtors to start their own campaigns in support of local children’s hospitals.

In total, they rode 60,000 kilometres and raised $750,000 for the Children’s Miracle Network to support sick children everywhere.

In recognition of his worldwide impact, Johnson received a 2019 Good Neighbors Award from the National Association of Realtors in the United States (making him the only non-American recipient ever).

Following this, Johnson ventured on a final solo “Road to a Million” ride through Newfoundland and Labrador in 2022. He successfully raised $1 million for the Children’s Miracle Network — $865,000 of which went directly to the Alyssa Rae Johnson Fund at SickKids in Toronto.

 

Continuing the fight: Johnson’s promise despite his own battle

 

This past spring, the Johnsons again received devastating medical news: Bruce had non-operable, stage four lung cancer and his doctors didn’t know how much longer he had. He’s currently receiving targeted treatment to prolong his life.

 

 
 
 
 
 
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A post shared by REALTORS Care® (@realtorscare)

 

While many in his position might slow down and take a step back from work and other commitments, Johnson has tirelessly continued to raise money and awareness of children dealing with severe health issues, despite his own prognosis.

“If I could, I think that I’d like to tell Alyssa about how awesome our Dad is,” says Holly. “I think that he deserves to know that she would be really proud of him and everything that he’s given for her memory.”

 

The final push to $1 million for Alyssa Rae

 

Johnson’s final goal is to see the Alyssa Rae Johnson Fund reach $1 million.

 

Realtorscare.ca

 

“We are so fragile, and these places put us back together, put these kids back together, are magically trying to put me back together,” he shares. “Even if the drugs are failing me, those will be my last days because that’s something that I really think is meaningful to leave that legacy behind. For Alyssa. I promised her, I can’t and won’t forget her.”

 

Learn more and support Johnson and his cause here.

 

Photo: Realtorscare.ca

 

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UPDATED: Warrant related to murder of Anita Mui issued for Zhixiong Marko Hu who fled to Hong Kong https://realestatemagazine.ca/york-police-search-for-missing-markham-realtor-yuk-ying-anita-mui/ https://realestatemagazine.ca/york-police-search-for-missing-markham-realtor-yuk-ying-anita-mui/#respond Thu, 29 Aug 2024 16:20:50 +0000 https://realestatemagazine.ca/?p=33679 Officers found burned human remains confirmed as Mui on Aug. 12; three youth charged with weapon and fraud offences

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Editor’s notes:

Aug. 29. As reported by the Toronto Star and CTV News Toronto: York Regional Police say the Canada Border Services Agency confirmed Zhixiong Marko Hu has fled to Hong Kong. Police did not confirm when he may have left Canada.

Aug. 28. Today, York Regional Police reported its homicide unit investigators issued a national warrant on Aug. 27 for 47-year-old Markham resident Zhixiong Marko Hu, wanted for first-degree murder in connection with the disappearance and death of Mui.

Police found suspects in possession of Mui’s property and initially charged three youths with firearms and fraud-related offences. A fourth suspect has since been identified as being involved in her disappearance.

Investigators seized two vehicles associated with Hu:

  • a white 2019 Mercedes-Benz Sprinter van with Ontario licence plate CWHW720
  • a grey 2021 Porsche Cayenne SUV with Ontario licence plate CTZT172

(They believe the Porsche may have had a different licence plate attached to it on or before Aug. 9: CHCD989.)

Anyone with information is asked to contact the homicide unit at 1-866-876-5423 ext. 7865 or homicide@yrp.ca, call Crime Stoppers at 1-800-222-TIPS or leave an anonymous tip online at www.1800222tips.com.

Aug. 26. In response to the news of August 22, Jennifer Pearce, president of the Toronto Regional Real Estate Board (TRREB), made the following statement:

“TRREB is deeply saddened by the tragic news surrounding the homicide of Yuk-Ying (Anita) Mui, a Member of our realtor community. Our thoughts and heartfelt condolences go out to her family, friends and colleagues during this incredibly difficult time.

We understand that the York Regional Police and the Ontario Provincial Police are actively investigating this matter as a criminal case. TRREB has full confidence in the police forces handling this investigation and expects that their diligent efforts will lead to a resolution that provides much-needed answers and reassures both the realtor community and the public.

At this time, TRREB has not received any information indicating an increased risk to realtors in the course of their professional activities. However, we remain vigilant and are closely monitoring the situation. We continue to emphasize the importance of safety and routinely share realtor safety tips with our members to ensure they are equipped with the best practices for their protection.

TRREB urges anyone with information relevant to this case to come forward to assist in the ongoing investigation. We remain committed to supporting our members and ensuring their safety in all aspects of their professional lives.”

Aug. 22. Today, the Toronto Star reported that on Monday in Parry Sound, York Regional police found and identified the body of Mui with the assistance of the Ontario Provincial Police (OPP).

OPP officers found burned human remains near Avro Arrow Road and Highway 400, in McDougall Township on Aug. 12. The remains were confirmed as Mui. Police say three youths have been charged with weapon and fraud offences.

 

York Regional Police are searching for missing Markham realtor, 56-year-old Yuk-Ying (Anita) Mui, with efforts in a rural Stouffville area, the Toronto Star and CBC News reports. Mui disappeared under “suspicious” circumstances.

On Friday, Mui left her Markham home when she typically does around 9:30 a.m., her colleague, Stephen Chow, president of Century 21 Atria Realty Inc., indicated. Around 11:00 a.m. that same morning, one of her two adult sons spoke to her. She hasn’t been heard from or seen since.

A few hours later, police recovered Mui’s vehicle (a white 2024 Mercedes-Benz) in a Scarborough parking lot near Finch Avenue East and Warden Avenue.

Yesterday, Constable Lisa Moskaluk told CBC News reporters that police have no “suspicious evidence” to suggest what may have happened to her but the fact she hasn’t yet checked in with her family was enough to raise concern. Moskaluk said police don’t know where Mui was going Friday morning or why she was at the Scarborough lot, as her schedule was “all over the place.”

Constable James Dickson, York police spokesperson, told the Star that information obtained through the investigation suggests Mui may have been seen in the rural area in York Region near Kennedy and Vandorf roads in Stouffville, about 20 minutes north of where she was last seen.

Police are seeking witnesses who may have seen Mui or her vehicle. Mui is described as 5’6” tall and 130 pounds with a medium build, brown eyes and straight, shoulder-length black hair.

 

Photo: AnitaMuiHomes.com

 

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