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Why it’s a good time to buy a home?30. January 2012 by Omid Valinasab.
By Mark Weisleder | Fri Jan 27 2012 I believe there has never been a better time to buy a home. I’ve been in the industry for 28 years as a lawyer and I haven’t seen so many positive signs for housing, whether you are thinking or buying or locking in a mortgage. Here’s why: Mortgage rates at historic lows:They can’t get any lower. Four to five-year fixed mortgages at 3 per cent are unheard of. It is lower than the variable rate that most Canadians have been paying for years. Rates have nowhere to go but up, either later this year or next. If you are paying a variable interest rate, lock in now. Canada’s appeal: This country has everything going for it — a stable banking and political environment, steady real estate market, the natural resources people want and few social tensions. That makes us a safe haven in a volatile world. Our immigrant draw: Because of the above, we’re a draw for immigrants, often wealthy ones. When they get here, they need a home. So in my view while the real estate market may level off in some areas of Ontario, it should stay strong in most of the GTA and likely Canada’s other large urban centres as well. Mortgage defaults: According to CMHC, over 99 per cent of Canadians pay their mortgages on time. It quite a different picture in the U.S. where 7 million homes are in foreclosure and perhaps another 7 million homeowners are under water. This represents almost 15 per cent of all homes. So while the American housing market will likely be weak for the next few years, this should not occur in Canada. Our banks are not dumping homes onto the market, so there is no downward pressure on prices. Recourse Mortgages: In many U.S. states, if you can’t pay your mortgage, the only thing the bank can do is foreclose; they cannot sue you for any shortfall. So when homes go under water, owners give the keys back to the bank. In Canada, loans are almost all Recourse, meaning if you don’t pay and there is a shortfall, the lender can sue you for the difference. This is another reason why, in my opinion, even if times do get tough, Canadian homeowners will find a way to make the payments until things improve. Income-to-price ratio: Another misleading statistic is that in major markets, like Toronto, the average price of a home is now 4.6 times the income of the average Canadian. This same statistic was found just before the U.S. and UK markets went into the tank. However, if you look at median incomes of Canadians against the median cost of homes, this average comes down to around 3.5, which is not dangerous. Using averages are wrong. A person receiving social assistance will not buy a home, and should not be included in any relevant statistic. High consumer debt: The warnings about rising debt ratios must be examined carefully. The Governor of the Bank of Canada is worried that the average personal debt ratio is now 156 per cent in Canada. This means a household making $100,000 per year, owes $156,000, two-thirds of which is mortgage debt. Why is this so bad? At an interest rate of 3 or even 5 per cent, the amount needed to service the debt is manageable. Most people do not pay off their mortgages in one year. Still, this is another good reason to consolidate your debt now, at these low interest rates, and lock in. No guarantees: Nobody can predict the future and there’s always the possibility of a major economic shock. Yet, in a U.S. presidential election year, politicians will do whatever is necessary to prevent it. If the economy goes into the tank, so do re-election chances. The U.S. is already showing signs of economic recovery. No matter what, do not take on a monthly payment higher than what you can afford. Meet with your lender or mortgage broker in advance to figure out what you can afford before you start looking for a home. It may be the best time to buy, but you need to buy smart. Mark Weisleder is a lawyer, columnist, author and speaker to the real estate industry. You can contact Mark at mark@markweisleder.com Source: Ten York Condo Posted in Uncategorized | No Comments » Highway ramp going inside a tower22. January 2012 by Omid Valinasab.
Ten York Toronto is being built between a highway and it’s ramp. This is a unique Japanese building.
Image source: Ten York Toronto Posted in Uncategorized | No Comments » Why Real Estate Investing Makes Sense7. January 2012 by Omid Valinasab.
Statistics show that investing in real estate makes a lot of sense. More people have become millionaires owning real estate than any other investment. Many of us know someone who invested in real estate and have become wealthy. Real estate is one of the safest and most profitable means of creating wealth. Banks will even lend money for the purchase of real estate because they know it is one of the safest and most profitable investments available. Here is just some simple reasons why real estate makes sense. 1. Proven Track Record If you look at the average real estate prices you will see a trend where real estate prices continue to go higher. If one examines real estate prices five years ago compared to today you will see that prices are much higher. The same can be said if one looks back 10, 15 and 20 years back, you will find real estate prices have always increased. Just look at the value of your own home. Most likely it has increased from when you last purchased the home. There is an old saying,” invest in real estate and wait, not wait to invest in real estate.” A smart investor once said,“do whatever it takes but buy one property a year and soon you will be wealthy”. Real Estate has always been the greatest wealth-builder in history, unlike the volatile stock market where it’s difficult for the average person to make money. Also as the population continues to grow and more immigrants settle in our great country than the demand for real estate will only continue to grow and push real estate prices higher. 2. Ownership Real Estate is a tangible asset and you control when to sell. Obviously the longer you keep your investment the great your profits. 3. Leveraging With a small down payment you have the ability to own a property with little money down that carries. Leverage, plain and simple, is debt; it’s using other people’s money to buy, which actually allows you to use less of your own money to get more property. This is what is referred to as the “Power of Leveraging”. 4. Capital Appreciation Appreciation is the increase in value of a property over time due to inflation, supply and demand, capital improvements and other factors. When rents or occupancy rates increase it translates into higher property values. Occasionally we have hot real estate markets which further push real estate prices higher. 5. Mortgage Reduction While you are receiving rent each month from your tenant you are actually building equity as your mortgage is being paid down. Over time your cash flow is increasing because your rent is increasing but your mortgage is being paid down. 6. Good Overall Returns The power of Real Estate investing provides investors with stable rents, increased property values, and tax savings. 7. Predictable Revenue In the long run the cash flow from the real estate investment provides consistent income during our retirement years. 8. Operating Capital Real Estate provides monthly cash flow to give the investment the ability to withstand economic downturns or temporary shortfalls. 9. Refinancing Opportunities The power of refinancing allows real estate investors the ability to borrow against the equity in their properties to purchase additional properties. This simple strategy has made many average people become millionaires. 10. Tax Efficiency Owning real estate has many tax advantages. Investors should speak to their own accountants to determine the best tax strategy for their particular situation. Real Estate is treated more favorable than other investments and taxes are deferred until property is sold. 11. Diversification Real Estate is a great way to diversify and you still have security, liquidity, and long term appreciation. Which are all the basics of good investing? 12. Efficient & Synergistic Investing with us provides investors with cost savings and efficiency which is usually unattainable to individual investors if they went at it alone. 13. Flexibility With us investors can start at their own comfort level, and buy additional investments as they become more comfortable. 14. Bottom Line Real Estate has a great track record of providing cash flow, tax advantages and appreciation over the long term. Real estate creates wealth through well managed income producing properties. These turnkey properties provide hassle-free investing, great annual returns and cash flow. Begin Today And Start Living The Retirement You Deserve With Our Cash For Life Through Real Estate Plan!
source: Hoem@ease realty inc Posted in Uncategorized | No Comments » Welcome To Ten York2. January 2012 by Omid Valinasab.
Life. Between the lake and the stars. Rise above it all in the most prominent location in the city. stylish design firm II BY IV Design Associates captivate with their imagination, elegance and timeless designs. The finest of features and finishes in the spacious suites will appeal to even the most discerning owners. An abundance of luxurious amenities make TEN YORK a charmed world unto itself. Prominently at the entrance to the city overlooking Lake Ontario. Key attractions are mere steps away – the Air Canada Centre, Maple Leaf Square, Rogers Centre and Harbourfront, with direct highway access to all parts of the city. Posted in Uncategorized | No Comments » Tridel Argento Condo at Yorkmills7. July 2011 by Omid Valinasab.
CHANGING THE FACE OF DON MILLS & YORK MILLS Home is the ultimate luxury in life. It’s where you can leave the world behind, be yourself and just “be”. Nestled within the tranquil Don Ravine system and overlooking the lush green views of the Donalda Golf and Country Club are sleek and modern condominium homes featuring all of life’s greatest luxuries - for a precious and treasured lifestyle. Posted in Uncategorized | No Comments » Top 100 Individuals – Canada - Year-End standing for 201011. March 2011 by Omid Valinasab.
Year-end standings for 2010, based on residential commissions paid. Rankings are compiled from figures submitted by regional offices. 1. Sam Corea, RE/MAX House of Real Estate, Calgary, AB 77. Omid Valinasab, RE/MAX Crossroads Realty Inc., Toronto, ON 78. Jason Bamlett, RE/MAX R E (Mountain View), Calgary, AB Copyright 2011 RE/MAX, LLC Posted in Uncategorized | No Comments » The Harper Government Takes Prudent Action to Support the Long-Term Stability of Canada’s Housing Market17. January 2011 by Omid Valinasab.
The Honourable Jim Flaherty, Minister of Finance, and the Honourable Christian Paradis, Minister of Natural Resources, today announced prudent adjustments to the rules for government-backed insured mortgages to support the long-term stability of Canada’s housing market and support hard-working Canadian families saving through home ownership. “Canada’s well-regulated housing sector has been an important strength that allowed us to avoid the mistakes of other countries and helped protect us from the worst of the recent global recession,” said Minister Flaherty. “The prudent measures announced today build on that advantage by encouraging hard-working Canadian families to save by investing in their homes and future.” “The economy continues to be our Government’s top priority,” continued Minister Paradis. “Our Government will continue to take the necessary actions to ensure stability and economic certainty in Canada’s housing market.” The new measures:
Our Government’s ongoing monitoring and sound underlying supervisory regime, along with the traditionally cautious approach taken by Canadian financial institutions to mortgage lending, have allowed Canada to maintain strong and secure housing and mortgage markets. The adjustments to the mortgage insurance guarantee framework will come into force on March 18, 2011. The withdrawal of government insurance backing on lines of credit secured by homes will come into force on April 18, 2011. http://www.fin.gc.ca/n11/11-003-eng.asp Posted in Uncategorized | No Comments » RE/MAX Canadian Outlook: A ‘Static’ 201116. December 2010 by Omid Valinasab.
Residential real estate sales in Canada won’t change much in most major cities, according to the RE/MAX Housing Market Outlook 2011. The report, which examines trends and developments in 26 major centres across the country, found that home-buying activity in 2010 fell short of 2009 levels. Housing values, however, continued to climb, with virtually all areas reporting an upswing in average price, ranging from just under one per cent to 15 percent this year. “Low interest rates and improving consumer confidence levels should stimulate home-buying activity at all price points next year,” says Sylvain Dansereau, Executive Vice President, RE/MAX Quebec. “Overall gains will be more muted – a welcome reprieve for purchasers. 2011 will be a year that will see more widespread recovery across a broader array of economic sectors, setting the stage for a better 2012.” Elton Ash, Executive Regional Vice President of RE/MAX of Western Canada, discusses the report’s findings in an overview video; Michael Polzler, Executive Vice President of RE/MAX Ontario-Atlantic Canada, also examines the numbers in a regional video. Canadian Associates can use the report to their advantage and add it to personal websites, newsletters, blogs, email or social media sites like Facebook and Twitter. More than 200 Canadian news outlets featured the report. Here are some links: The Globe and Mail – Housing marketing to see ‘greater stability’ CBC News – 2011 housing sales to be flat: RE/MAX Bullfax.com – RE/MAX forecasts gains in housing prices across country The Province – Vancouver house prices keep rising The Calgary Sun – Calgary real estate market to remain flat next year © 2010 RE/MAX, LLC. RE/MAX Affiliates may share this article, provided they do not charge for it and this notice is included. All other rights reserved. Posted in Uncategorized | No Comments » ARISTO At Avonshire - Condos by Tridel at Yonge & 401 - Toronto6. December 2010 by Omid Valinasab.
A visionary new Tridel condominium community located at Yonge Street between Highway 401 and Sheppard Avenue that will make a signature statement on the North York skyline. Come home to a Tower Suite, Garden Villa, Penthouse or Grand Penthouse in a Tridel Built Green, Built for Life® community. Source: Aristo Condo Posted in Uncategorized | No Comments » Majority of Ontarians believe HST applies to Resale Homes!10. November 2010 by Omid Valinasab.
The introduction of the Harmonized Sales Tax in both Ontario and British Columbia on July 1st, 2010 has been widely cited by real estate professionals and analysts as one of the major factors affecting a slowdown on housing sales. This theory seems to be supported by a recent survey commissioned by the Ontario Real Estate Association (OREA) and conducted by Ipsos Reid, which shows that 56% of the people in Ontario believe the new HST applies to the cost of resale homes. It only applies to New Home sales and related expenses to the purchase of a resale. Where is the media when you need them? An average home purchased in midtown Toronto for $700,000 would of course be harder to sell if confused or uninformed buyers thought they would have to pay another $91,000. on closing! Couple this with the already now increased two land transfer taxes of another approx. $20,000. and these prospective purchasers certainly would come down with a case of “Buyers’ Remorse” very quickly. Guess it’s up to us to educated them. Posted in Uncategorized | No Comments » | |||||||||||||||||||||||||||||||||||||||||||||||||
