October, 2020

Luxury housing market inspires ‘total frenzy’ in vacation boom towns

Housing Wire

In the third quarter, luxury home sales jumped 41.5% , the biggest year-over-year shift since 2013, according to Redfin. And while real estate agents repping luxury homes aren’t seeing as many bidding wars as they did this summer , their respective housing markets are still crazy right now.

Renting an Apartment for the First Time

Point2Homes

Image: Antonio Guillem / Shutterstock.com. If you’re considering moving out of your parent’s home and into your first apartment, you’re probably pumped. Renting an apartment for the first time can be an exciting experience.

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5 best social media sites for real estate agents

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: 5 best social media sites for real estate agents.

Real Estate Continues to Show Unprecedented Strength This Year

Keeping Current Matters

The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more?

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9 Comics That Show What It’s Like Being a Real Estate Agent

Lighter Side of Real Estate

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Bank of Canada Ending Pandemic Program That Helped Real Estate Prices Surge

Better Dwelling

On the day Canadian home sales and prices hit record highs, the central bank announces an end to the program partially responsible for the surge. The Bank of Canada (BoC) flooded the market with cheap mortgage credit in March.

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More Trending

Luxury Real Estate Headlines: Final Week in October 2020

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Garberville, California | Healdsburg Sotheby’s International Realty .

Buying Your First House: Tips For Buyers

RIS Media

When taking on any new project, the more you know and understand, the better things are likely to go. The same is true when buying a home for the first time. With our first-time buyer tips, you should be able to avoid many of the problems that can prevent your purchase from going well.

Home Values Projected to Keep Rising

Keeping Current Matters

As we enter the final months of 2020 and continue to work through the challenges this year has brought, some of us wonder what impact continued economic uncertainty could have on home prices. Looking at the big picture, the rules of supply and demand will give us the clearest idea of what is to come.

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A disturbing trend: Buyers fail to deliver deposit cheques

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: A disturbing trend: Buyers fail to deliver deposit cheques.

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RBC Just Forecasted Mortgage Defaults May Be Higher Than If The BoC Did Nothing

Better Dwelling

Canada’s largest bank is prepared for the wave of mortgage defaults coming. Wait… what defaults? RBC Capital Markets sent a research note to clients last week. In it, the analysts mention up to a fifth of deferred mortgages are at risk of default.

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Holy smokes — new home sales are up 32.1% year over year

Housing Wire

The one economic sector that has blown away my estimates this year has been the new home sales market. I predicted peak year-to-date growth of 4.7% but this was before COVID-19, which temporarily crushed bond yields and mortgage rates.

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Cash Deposits When Buying a Home: What to Know

Point2Homes

Image: vinnstock / Shutterstock.com. Cash offers have traditionally been a great way to get a discount or encourage a reluctant seller. However, when it comes to mortgages, cash can suddenly lose its appeal. Nowadays, lenders want to know exactly where all your funds are coming from.

4 New iOS Features to Boost Productivity

RIS Media

The new Apple iOS 14 update has caused a flood of images featuring aesthetic home screens and articles with detailed design tutorials. While the update is clearly recognized for its visual appeal, it also makes many tasks simpler.

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The #1 Reason Not to Wait to List Your House for Sale

Keeping Current Matters

Many industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them.

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Fall Forward | 5 Homes with Dramatic Fall Foliage

Sotheby's International Real Estate

Fall’s the time for sweaters, apple cider, and scenic drives to enjoy fall foliage. In locales from West Coast to East, these estates offer private showings, allowing for appreciation of autumn’s colors without leaving home. The Crane Estate.

Toronto Condo Rental Inventory Is Soaring, and It Might Be Driving People To Sell

Better Dwelling

Toronto condo rentals are seeing the most inventory in recent memory. Toronto Regional Real Estate Board (TRREB) data prepared by Toronto Realtor Daniel Foch shows rental inventory is still much higher than usual in September.

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Is 2021 a good time to buy a house?

Housing Wire

This year’s housing market has been plagued with low inventory, rising home prices, and endless bidding wars, making it hard for some would-be homeowners to get their foot in the door. Will 2021 be any different? Or, will it be a good time to buy a home?

Fixed-rate mortgages favoured by first-timers; hybrid mortgage introduced

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: Fixed-rate mortgages favoured by first-timers; hybrid mortgage introduced.

Brand Report: Three Months of Record-Breaking Home Sales

RIS Media

The streak of record-shattering home sales stretched to three months in September, as closings rose 21.1 percent from a year ago. On average, homes sold in a mere 39 days—a full week faster than in September 2019. Meanwhile, inventory plummeted 31.9

A Homeowner’s Net Worth Is 40x Greater Than a Renter’s

Keeping Current Matters

One of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter.

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Luxury Real Estate Headlines: Second Week in October 2020

Sotheby's International Real Estate

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home. Palm Springs, California | Gerard Bisignano , Vista Sotheby’s International Realty .

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RE/MAX Turns Bearish On Toronto Condo Prices, Expects Declines Soon

Better Dwelling

One of the world’s largest real estate brokerages sees near-term risk for Toronto condos. RE/MAX weighed in on the recent market, and observed what a lot of people are seeing – a booming detached market, and a lot of condo apartment supply.

The housing market faced uncertainty in March, but now ‘it’s a circus’

Housing Wire

The housing market faced a lot of uncertainty when COVID-19 caused the real estate industry to pause under shut-downs, but low interest rates and the desire for more space has turned this year into a boom time for real estate agents.

Unconditional offers to buy are binding, appeal court rules

REM Online

The following content may have been republished here without the author's permission. The original post can be found at the following URL: Unconditional offers to buy are binding, appeal court rules.

ULI Report: COVID-19 Accelerates Change in Real Estate Industry

RIS Media

Why Pricing Your House Right Is Essential

Keeping Current Matters

In today’s real estate market, setting the right price for your house is one of the most valuable things you can do. According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021.

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Extending the Season | The Tips and Tricks of Luxury Patio Design

Sotheby's International Real Estate

Helena, California | Ginger Martin , Sotheby’s International Realty – Wine Country – East Napa Street Brokerage. The word patio may bring to mind warm nights and seasonal produce on the barbecue, but there’s much to be said for outdoor spaces that can be enjoyed beyond the summer season.

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Negative Interest Rates Aren’t Good For Real Estate. They’re Actually Really Bad

Better Dwelling

Canadians are increasingly discussing negative interest rates. Since negative interest rate policy is unconventional, there aren’t many examples. Further, there isn’t much discussion from experts that understand the concept.

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In a bid for stability, FHFA and FHA extend forbearance policies

Housing Wire

Major forbearance policy changes have been set into motion. The Department of Housing and Urban Development announced on Tuesday an extension allowing single-family homeowners with Federal Housing Administration -insured mortgages to request an initial forbearance through Dec 31, 2020.

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