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Real Estate Talks This is a friendly, interactive exchange of information on all Real Estate related subjects. Follow on Twitter: @RETALKS 2021-06-18T03:01:42-08:00 https://realestatetalks.com/app.php/feed 2021-06-18T03:01:42-08:00 2021-06-18T03:01:42-08:00 https://realestatetalks.com/viewtopic.php?t=129802&p=346823#p346823 <![CDATA[Real Estate Talks • Re: Huge sale shows Vancouver apartment prices holding steady]]> Statistics: Posted by listingsnearby — Fri Jun 18, 2021 3:01 am

2021-06-03T13:23:43-08:00 2021-06-03T13:23:43-08:00 https://realestatetalks.com/viewtopic.php?t=130662&p=346651#p346651 <![CDATA[Real Estate Talks • Interest rates are the culprit]]> Q: What is the mortgage payment on a $400,000?

A: Silly question. What rate, what term, what kind? If you had a 1.55% mortgage with a 30 year amortization (5 year variable closed) you would pay $466,16.

Of interest would be…had you done this mortgage in 1991 at 13.5 % you would have had to pay
$4,582 OR 11 TIMES AS MUCH! Now, do you still blame foreigners for price increases?
It's interest rates baby! Who sets the rates?

Statistics: Posted by ozzie — Thu Jun 03, 2021 1:23 pm

2021-06-02T20:15:39-08:00 2021-06-02T20:15:39-08:00 https://realestatetalks.com/viewtopic.php?t=10947&p=346642#p346642 <![CDATA[Real Estate Talks • Re: Oro Constructions Pvt. Ltd.]]>

Statistics: Posted by oroconstructions — Wed Jun 02, 2021 8:15 pm

2021-05-28T06:59:29-08:00 2021-05-28T06:59:29-08:00 https://realestatetalks.com/viewtopic.php?t=10947&p=346549#p346549 <![CDATA[Real Estate Talks • Re: Introduce Yourself to the Forum!]]> I’m Bhupinder Bhatti, I want to learn more about real estate. That is why I join this forum.

Statistics: Posted by listingsnearby — Fri May 28, 2021 6:59 am

2021-05-19T08:32:17-08:00 2021-05-19T08:32:17-08:00 https://realestatetalks.com/viewtopic.php?t=130517&p=346469#p346469 <![CDATA[Real Estate Talks • Canada’s rental markets cannot sustain imminent demand]]>
Rental demand, as a consequence of Canadians priced out of the ownership market, has put immense pressure on supply, but the wrong policies are being touted as solutions.

“Supply is not keeping up with demand and there is considerable demand for rental as it becomes more and more difficult for young Canadians to get into the market,” Benjamin Tal, deputy chief economist at CIBC Capital Markets, said during a webinar last week.

“We are trying to fight a supply issue with demand tools. Rental must be part of the solution to introduce affordability into the system and I think purpose-built is the only solution.”

The issue remains that building practices have not changed much in at least the last four decades, however, Tal is dismayed that there’s scant innovation in the market, a problem that’s on the precipice of becoming especially acute, he warns.

In 2020, Canada’s population declined to 200,000 from 500,000 a year earlier, but, in fact, there were 70,000 Canadians who’d returned from chaos-addled Hong Kong, with yet more likely on their way, and chose to settle in Toronto and Vancouver where rental demand is highest, and there were an additional 70,000 foreign students whose visas expired but who were stranded in the country and permitted to stay by the federal government.

“The other thing we’re seeing is we raised the (immigration) target to 410,000 from 350,000 and the population rate will accelerate,” said Tal. “Already, Canada is the fastest growing country, in terms of population, in the OECD [Organisation for Economic Co-operation and Development], almost double what the U.S. is growing at.”

Ontario’s net population growth averaged 145,000 between 1990 and 2017, Ben Myer, president and owner of Bullpen Research & Consulting, said during the webinar, but that number is on the verge of exploding.

“To see it go all the way up to 250,000, we saw huge pressure on the rental market,” he said. “We had double-digit increases in the GTA in both 2018 and 2019, and some areas of the GTA went up 17%, 18%, in terms of their rents. The government also made changes to the mortgage stress test, which made it difficult for some Canadians to find a home and others couldn’t purchase what they wanted to buy, so they just stayed in the rental market.”

Myers added that a lot of people have been approved to come to Canada and they have already started working for Canadian companies remotely, but their goal remains to come to Canada as soon as the pandemic is over.

Moreover, nearly a third of international students choose to stay in Canada once their residencies are over.

“Another 30% of students who study in Canada stay in Canada,” said Susan Tjarksen, managing director of Cushman & Wakefield. “The younger they are, the more their propensity to rent versus own.”

https://www.canadianrealestatemagazine. ... 34659.aspx

Statistics: Posted by news — Wed May 19, 2021 8:32 am

2021-05-07T08:12:59-08:00 2021-05-07T08:12:59-08:00 https://realestatetalks.com/viewtopic.php?t=130472&p=346402#p346402 <![CDATA[Real Estate Talks • Bitcoin and real estate: can you buy real estate with Bitcoin investments?]]>
How the world-famous cryptocurrency is changing real estate transactions in 2021.

One of the wildest developments to come out of the 2010s was the development of Bitcoin, a cryptocurrency that was once seen as a bit of a joke. However, Bitcoin is proving itself to be a huge financial asset and has soared to over $50,000 per share. If a person has purchased 30 stocks of Bitcoin, they would be around $1.5 million richer than they were at the time of purchase.

Even Elon Musk has made it possible to buy Teslas with the newly-popular cryptocurrency. Bitcoin has proven to be an investment that buyers trust, and with the value for this digital asset increasing upward of $55,000 a share, it makes sense that the crypto could be used to purchase physical assets, like real estate.

What is Bitcoin?
The digital currency was created in 2008 and was meant to be a form of exchange. Like most cryptocurrencies, Bitcoin runs on a blockchain. A blockchain is basically a ledger or list of every transaction made to make it easier to see where money is moved around and offers a private wallet or key to make it easier for buyers to trust their investments.

Blockchain crypto is often more secure and can become recoverable if things do go wrong. Typically, the blockchain will give you a QR code with a private key to your updated transaction list. This could make it easier to recover lost wealth, but typically Bitcoin is so secure that this isn't needed.

When Bitcoin first came on the scene each stock was on sale for under one dollar. According to CNBC, if you had invested just $100 in Bitcoin in 2009, you'd have a profit of over $48 million today. That's enough to re-invest, buy a home, or live off the interest of your initial investment.

So what if you did have enough invested in the cryptocurrency to start using Bitcoin for other purposes than building wealth. What if you used cryptocurrencies to purchase properties?

Purchasing real estate with Bitcoin
It's no surprise that Bitcoin is one of the hottest modes to buy real estate with today. Simply put, if you have a large stash, you could sacrifice a few coins and get a great deal on a real estate investment. For example, since Bitcoin has been hovering around the $55,000 mark, you could spend 12.7 in Bitcoin and get a $700,000 house.

Using Bitcoin for your real estate transaction seems to be the new frontier in terms of bargaining and property hunting. Everyone wants to cash in on the blockchain cryptocurrency because they see the data pointing to significant increases in the long run.

This is especially poignant for sellers in metropolitan areas who have high-priced property. The idea of using technology for buying real estate mixed with the idea that the seller might become wealthier due to the history of bitcoin is very enticing. This means if you're trying to purchase real estate with Bitcoin, the seller will probably accept your offer on that alone.

Choosing to buy real estate
Unlike the popular blockchain cryptocurrency, using Bitcoin as payment in real estate transactions can have its benefits. Traditional dollars can take longer the process than Bitcoin. Blockchain technology also has the ability to secure data and create a ledger for all Bitcoin and real estate-related transactions. This technology might make buying and selling properties easier in the coming years.

As a buyer, owning cryptocurrency is a huge asset when working with sellers and working out legal fees for residential and commercial property. Including Bitcoin in offers would typically give you the cutting edge and security when competing with clients for other listings.

Is there a downside to using Bitcoin for a real estate transaction?
The real risk of buying real estate with Bitcoin is that you're losing your initial buy-in. When you choose to invest in cryptocurrencies, there is a risk, much like traditional stocks. You never want to sell your stock, only to learn it's increased ten-fold overnight.

The value of Bitcoin is increasing rapidly. According to CNBC, forecasters are saying the price of one Bitcoin might hit half a million dollars by the end of the decade and might eventually reach $1 million per coin. But whether the price of each would go up is kind of in the air as investing in cryptocurrencies can be volatile.

If a buyer is offering cryptocurrency when they purchase real estate, it can definitely be a game-changer. Property is definitely more of a physical asset than cryptocurrency. And a buyer may persuade a person to sell to them by using the blockchain crypto as leverage in real estate transactions.

It might help you get that new house with a newly-built in-ground pool that you'll be using all summer long. Or it might be worth it to make the price of a particular property not seem so daunting. If you read up on where the blockchain currency is going, you may not be so quick to jump into the real estate market waving your Bitcoin around.

Is it worth paying for real estate with Bitcoin?
To make a long story short, you can definitely buy real estate with Bitcoin. But you have to be willing to accept that the blockchain cryptocurrency might rise due to new unforeseen developments, including the possibility of it going in the complete opposite direction and tanking in price.

Check with experts before you make a complete decision that can impact your wealth. Call brokers and determine which purposes make holding on to your Bitcoin more attractive. Read up on future earnings and trust that the blockchain cryptocurrency will probably keep rising at this rate.

You can buy real estate with Bitcoin. However, that doesn't necessarily mean it's going to be worth it. Real estate is a great investment because it's physical and it can appreciate in value immensely over the years. But the same can be said for Bitcoin and other cryptocurrencies - even DogeCoin.

Looking at listings may be appealing, but watching your Bitcoin increase is more satisfying. That being said - if you have the means to buy crypto and use it as leverage in the real estate market, why not? Real estate is one of the safest investments you can get into and that should be enough for high-stakes gamblers who take chances on cryptocurrency to be willing to get into the market and see their money actually work for them.

It's no secret technology has enabled us to do things we never thought possible. From carrying high-definition cameras in our pockets to creating a new form of blockchain currency that is more valuable than the physical dollar, technology is shaping the way we do everything.

It might even change the way we look at real estate and buying property forever.

https://www.canadianrealestatemagazine. ... 34637.aspx

Statistics: Posted by news — Fri May 07, 2021 8:12 am

2021-04-20T19:26:30-08:00 2021-04-20T19:26:30-08:00 https://realestatetalks.com/viewtopic.php?t=130405&p=346292#p346292 <![CDATA[Real Estate Talks • Federal government’s budget misses mark on housing]]>
As expected, the federal budget released Monday afternoon contained measures to, at least ostensibly, cool runaway prices in Canada’s housing market.

Most notably, the government is introducing a 1% tax on non-residents that’s believed will generate $700 million in revenue through four years beginning in 2022-23. Additionally, the budget will apportion the Canada Mortgage and Housing Corporation with funds that will be spent on social housing programs.

“The government has a plan to invest $2.5 billion, and reallocate $1.3 billion in existing funding to speed up the construction, repair, or support of 35,000 affordable housing units. And, the government will introduce Canada's first national tax on vacant or underused residential property owned by foreign non-residents,” said a federal government statement.

However, at 1%, the non-resident tax is nominal and, therefore, too meek to make any sort of difference in the housing market, charges a wealth advisor, adding that, on a $1 million home, the tax amounts to a paltry $10,000.

“It’s probably not going to cool housing because if people are speculating on real estate, I don’t know that 1% is much of a deterrent,” Paul Shelestowsky, a senior wealth advisor with Meridian Credit Union, told CREW. “They’ll just factor 1% into what they want to get on their returns. It will generate revenue for the government because it wasn’t there before, but I don’t see it slowing things down because there’s so much demand for so little supply.”

Ultimately, creating more demand for housing will exacerbate unaffordability, and Shelestowsky believes that raising interest rates is the only way to quell scorching demand. However, he noted that rate hikes would undo everything that’s sustained the economy for the last 12 months.

Low interest rates aren’t the only reason Canadians are buying real estate in a frenzy. The COVID-19 pandemic has adversely affected lower income earners, but for the middle and upper-middle classes, it’s been fortuitous. The Canadian savings rate has surged 28% and there’s believed to be close to $200 billion surplus cash in the country’s households, which, in tandem with low interest rates, has sparked a housing rush. But things could become dicey when that excess cash is rapidly injected into the economy.

“What has economists worried is all this stimulus out there; the vaccines are rolling out, so we could see something in three to six months where people have all this extra money to spend and they may want to go on trips again, but when they spend their excess savings, it drives prices up and that creates inflation,” said Shelestowsky. “The way you slow inflation down is by raising interest rates.

“It’s a big paradox because Canadian savings has gone up by 28%, and that’s money that will create price pressure when it’s deployed. All the money sitting on sidelines is why the housing market won’t slow down—because interest rates are so low and people are sitting on all kinds of cash.”

Statistics: Posted by news — Tue Apr 20, 2021 7:26 pm

2021-04-07T23:23:35-08:00 2021-04-07T23:23:35-08:00 https://realestatetalks.com/viewtopic.php?t=10947&p=346192#p346192 <![CDATA[Real Estate Talks • Re: Introduce Yourself to the Forum!]]> My self Shashi Gupta and I am a Real Estate Expert in Gurgaon, India. I am providing the affordable deals in Gurgaon in flats and Shops. You can check my profile on my site named Saransh Realtors.

Statistics: Posted by Saranshrealtors1 — Wed Apr 07, 2021 11:23 pm

2021-03-20T09:11:31-08:00 2021-03-20T09:11:31-08:00 https://realestatetalks.com/viewtopic.php?t=129910&p=345690#p345690 <![CDATA[Real Estate Talks • Listings avalanche hits March Metro housing market]]>
WI Staff Western Investor
March 19, 2021

Early March data shows that homeowners have rushed off the sidelines, pushing a record number of homes for sale onto the Real Estate Board of Greater Vancouver’s (REBGV) Multiple Listing Service.
As of March 15, the number of new listings were on pace to shatter the highest monthly total of new listings ever seen in Greater Vancouver, according to preliminary REBGV date released by Dexter Associates Realty.
As of mid-month, 4,367 new listings had hit the market, according to Dexter partner and managing broker Kevin Skipworth.
“This pace could take us above 8,000 in a month for the first time ever,” Skipworth said.
The higher listings come at an opportune time, he noted, because sales as of mid-March are also on pace for the highest monthly level on record. In the first two weeks of March, 2,663 homes sold and, in at least four Greater Vancouver markets, sales have already eclipsed the entire month of February, which had posted the second-highest sales in history.
Calling the current market “head-spinning” Bryan Yu, chief economist at Central 1 Credit Union in Vancouver, noted that, through the first two months of 2021, total Metro Vancouver home sales, which includes most of the Fraser Valley, rose 78 per cent from 2020 and exceeded 2016 – the former record year - by 1.8 per cent.
It now appears that March will rewrite history again.
North Vancouver detached home sales as of March 15 are nearly at the level for the whole month of February, Burnaby townhouse sales have already eclipsed the sales in February (which were the highest sales in more than three years) and, in the South Delta communities of Ladner and Tsawwassen, condominium apartment sales are higher than in all of February, the latest data shows.
In the City of Vancouver, 698 homes had sold as of March 15, compared to 477 at the same time in February, while new listings increased 63 per cent from February 15 to 1, 263 units.
Skipworth said the higher listings may help cool “ the fever in multiple offers that was reaching an exhausting pitch for buyers.”
It was not uncommon for prime Vancouver or Burnaby properties to receive 20 offers in February, he noted.
“Buyers remain motivated by the low-mortgage-rate environment, while the pandemic has contributed to higher savings and a desire for more space as many people work remotely,” Yu said. “ Higher demand for suburban areas, away from the high-priced core Vancouver market, is evident with a doubling of Fraser Valley market sales.”
During the first two months of this year, average detached house prices in Greater Vancouver are up 15 per cent from 2020 to a record high of $1.06 million, Yu added.
Both Skipworth and Yu forecast that sales of strata homes – townhouses and condos – will lead the sales curve into the spring.
“Strong price growth in detached prices may be pricing more families into multi-family units, while vaccine optimism is likely driving investors back into the [condominium] market,” Yu said.
“It is surprising to see the levels of activity we are experiencing, especially in the condo apartment market,” Skipworth added.
According to REBGV data, February townhouses sales were up 82 per cent, year-over-year, and condo apartment sales were 65 per cent higher.
“Together, strata property sales accounted for nearly 65 per cent of all February transactions, with condo apartments leading all sectors with a blistering pace of 62 sales every day,” Skipworth said, adding that March sales are tracking even higher.
Yu, however, is expecting the sales trend to slow later this year.
“Mortgage rates have likely bottomed, and high prices are eroding affordability. Meanwhile, the shift to a post-vaccine world will usher in a return to a more normal working environment, limiting opportunities to search for housing and reducing a push towards suburban markets. Spending power will likely diminish as households redeploy spending into services and tourism,” Yu commented in a March 19 column in Business in Vancouver.

https://www.westerninvestor.com/news/br ... 1.24296708

Statistics: Posted by news — Sat Mar 20, 2021 9:11 am

2021-03-13T08:43:00-08:00 2021-03-13T08:43:00-08:00 https://realestatetalks.com/viewtopic.php?t=129886&p=345651#p345651 <![CDATA[Real Estate Talks • CKNW radio today March 13]]> David Morgan: What's not right with silver market?
Mike Levy: 80cts Canada dollar
Victor Adair: 10-year yields surge to a 14 month high!
Ozzie: US RE gains 1.5 trillion in value! Single women 'out-buy' men in 4th quarter in US

Go to ozbuzz.ca (latest numbers and forecasts) and subscribe. Ir's free!

Statistics: Posted by ozzie — Sat Mar 13, 2021 8:43 am