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The Globe & Mail - Apr. 20, 2022
Toronto real estate market gears down, but those immune to rate hike still active
The deceleration in the Toronto-area real estate market continues as buyers and sellers come to grips with the most recent interest rate hike by the Bank of Canada.
“I’m hearing a lot of ‘wait-and-see,’ ” says real estate agent Manu Singh of Right at Home Realty Inc. “They’re feeling a bit paralyzed.”
Amidst the confusion, some properties are seeing sluggish activity while some outliers are creating a frenzy.“Every week it feels like it’s different with the market.”
Mr. Singh is working with clients who entered the contest for a four-bedroom detached house in the Baby Point neighbourhood in Toronto’s west end.
The house was listed with a below-market asking price around the $2.8-million mark and Mr. Singh estimated it would sell for $3.2-million or possibly $3.3-milllion. - 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
Forgoing a home inspection? How buyers can protect themselves in competitive markets
“In this market — especially the Toronto market but it’s also shifted to Ottawa, Barrie, Burlington, and elsewhere — it would be very rare to see a condition on a home inspection,” said John Lusink, president of Toronto-based Right At Home Realty.
“Most realtors would be saying, ‘If you put that condition in, you will never ever get a home in the current market.’”
So is it still possible for buyers to protect themselves against hidden defects and costly repairs, and still obtain a home in an in-demand neighbourhood? Experts say yes, as long as they’re willing to think outside the box.
- 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
MoneyWise via Financial Post - Dec. 20, 2021
How to tell if your real estate agent will cost you big money
Not all real estate agents are created equal. But when the market’s moving at a maniacal pace, consumers can feel justified in making hasty decisions when choosing an agent.
“Both buyers and sellers need to interview a few prospective agents, even if they receive a referral to an agent, so they have some sense of compatibility and skill,” says John Lusink, President & Broker of Record at real estate brokerage Right at Home Realty. “While everything real estate seems to be going at full speed, this is exactly where the consumer needs to slow down and take their time.”
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Jittery Toronto house hunters pounce as year closes
The Toronto-area real estate market is ending 2021 with a burst of energy from buyers who want to clinch a deal before the year ends.
Manu Singh, a real estate agent with Right at Home Realty Inc., has seen market psychology change all through the fall. In early December, he senses that some buyers are rushing towards the finish line. Mr. Singh believes the lack of inventory, the threat of rising interest rates and an expected increase in immigration are all contributing to market sentiment. “Buyers are more reactive to news,” he says. “It changes from week to week.”
Looking ahead, Mr. Singh expects buyers to keep a keen eye on interest rates and levels of inventory.
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Real Estate Magazine - Dec. 3, 2021
New Leadership: 2022 Durham Region Association of Realtors
New additions to the DRAR board include Trevor Johnston, sales representative, Right At Home Realty Inc., Brokerage.
Trevor is the newly elected Director-at-Large and hails from our Port Perry office - congratulations Trevor!
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Financial Post - Nov. 23, 2021
The Liberal election promise that will increase Canadian home prices
“Raising the max insured amount is just going to bring a few more potential first time buyers into the market, but isn’t necessarily going to have any impact on the struggles buyers are having,” says John Lusink, president of Right at Home Realty.
What could improve affordability? Both Lusink and Fleming feel that the solution to Canada’s housing crunch must begin with the rapid building of new supply.
“Remove red tape and improve the timeframes to bring new homes to market,” Lusink says. “The average timeline for new construction has more than doubled in the last two decades from an average of nine months to 21 months.”