The Canadian Real Estate Association says home sales climbed 2.2 per in December compared with November as they recovered from a dip following the introduction of new mortgage rules
Two markets, two diverging paths
The tightest market in years means selling agents are now seeing more and more no-condition offers thrust before clients, but too few are viewing those offers as the red flags they are, caution agents.
The move by another major Canadian university to introduce a real estate-centred program has Realtors divided, with some suggesting it will fail to professionalize an industry where licensing may be too easy to win.
Ira Jelinek is a Realtor with Harvey Kalles Real Estate in Toronto, and was ranked in the top one per cent of all agents in Ontario after just four years in the business.
Is your client thinking about building their own home? Will they require any level of financing along the way? Suggest they start at the very beginning with an in-depth project review with their mortgage broker, one that is specifically experienced with construction mortgages. In fact, have this conversation prior to their purchasing the lot if possible.
Ricky Chadha is a real estate agent with Royal LePage in Toronto. He is also a real estate columnist for The Globe and Mail.
Construction in the condominium market slipped 3.7 per cent to 192,368 units in August compared to 199,813 in July, according to Canada Mortgage and Housing Corporation (CMHC) in a report release Tuesday.