real estate newspaper articles

Real estate: Comparing house and condo costs in Canada

21/07/202321/04/2025dansa

As the average price of a home in Canada rises year-over-year, a new study is highlighting the growing gap between the cost of condominiums and houses in major Canadian cities.

Conducted by Point2 Homes and published earlier this month, the study shows that house prices are more than double the cost of condominiums in 14 Canadian cities, most of which are in Ontario and British Columbia. The data is based on MLS benchmark prices determined by the Canadian Real Estate Association (CREA) and realtor associations in each local market as of May 2023. Benchmark prices are assigned based on property types rather than square footage.

According to Point2 Homes, the study’s results paint “a bleach picture” for those looking to upsize from condos to houses, particularly in major real estate markets such as the Greater Toronto and Vancouver areas.

In Vancouver, for example, houses are approximately $1.2 million more expensive than condos, on average, representing a difference of about 153 per cent. The term “house” refers to single-family houses, attached single-family houses and townhouses or row houses, while “condominium” refers to apartments.

Meanwhile, in Trois Rivieres, Que., there is a price difference of $44,000 when comparing the average cost of

Anywhere to Release Second Quarter 2023 Financial Results and Host Webcast on July 25, 2023

18/07/202321/04/2025dansa

MADISONS, NJ, July 17, 2023 /PRNewswire/ — Anywhere Real Estate Inc. (NYSE: HOUS), a global leader in residential real estate services, will release its financial results for the second quarter ended June 30, 2023on Tuesday, July 252023. The company will host a conference call and webcast to discuss its results and provide a business update that morning at 8:30am ET.

Anywhere RE Logo (PRNewsfoto/Realogy Holdings Corp.)

Investors may access the conference call live via webcast at anywhere.re under “Investors” or by dialing 888-330-3077 (toll free); international participants should dial 646-960-0674. Please dial in at least five to 10 minutes prior to start time. A webcast replay will also be available on the company’s website.

About Anywhere^BC

Anywhere Real Estate Inc. (NYSE: HOUS) is moving the real estate industry to what’s next. A leader of integrated residential real estate services in the US, Anywhere includes franchise, brokerage, relocation, and title and settlement businesses, as well as mortgage and title insurance underwriter joint ventures, supporting approximately 1.2 million home transactions in 2022. The diverse Anywhere brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and

Green New Deal Boosts Appeal of New Build Investments

10/05/202321/04/2025dansa

Investing in new-build property has traditionally been a popular form of property investment due to the range of benefits it can offer – this has seen many investors purchase off-plan (before the house is completed) as a means of maximizing their potential gains.

The push towards making homes energy efficient in recent years has heightened the incentive to invest in new-build properties, as tenants wish to keep their energy bills down. As a result, this has seen increased demand for such properties.

In turn, new-build properties also tend to boast higher EPC (energy performance certificate) ratings of an A or B compared to the current UK housing stock which averages out at an D.

With recent government regulations expected to make all homes in the private rented sector a C rating minimum, it can be said that new-build investors will save significant figures in not having to perform extensive maintenance required in boosting their EPC rating.

It is also worth highlighting that 72% of renters aged 18 to 34 always check the energy rating of a home before renting, with many adding that they would not choose to live in a property with an EPC rating of D or below.

Canada’s housing prices to keep climbing, says Royal LePage

09/05/202321/04/2025dansa

Royal LePage is forecasting that the average price of a home in Canada will increase 4.5 per cent in the fourth quarter of 2023, compared to the same quarter in 2022. This revised forecast anticipates an earlier-than-expected boost in activity in major housing markets across Canada.

The projection is included in the real estate company’s house price survey released Thursday, which drew from national property data as well as statistics collected from 62 of Canada’s largest real estate markets.

“Coming out of a correction, it is common to underestimate the speed at which the market will turn itself around,” Phil Soper, president and CEO of Royal LePage, said in a press release. “As market activity is rebounding faster than anticipated, we are looking ahead with a sense of cautious optimism. While we do not expect huge price gains this year, some sense of normalcy is returning to the market.”

The average price of a home in Canada reached its peak in February 2022. Over the course of a year, the national average fell 18.9 per cent, according to the Canadian Real Estate Association. According to Soper, the housing market’s “inevitable correction” was triggered by the Bank of Canada’s aggressive interest

What Does the Spring 2023 Budget Mean for Property Investment?

07/04/2023dansa

Chancellor Hunt also revealed the government would deliver 12 “investment zones” across the UK – with the intention of creating new “potential Canary Wharfs.”

Regions like the West Midlands, Greater Manchester, and Liverpool were highlighted as potential candidates. The Chancellor stated that successful applicants must be able to identify a specific location where a partnership between local government and local universities/research institutes could provide valuable innovation.

Successful candidates will receive £80m in funding each over the next 5 years, further encouraging investment in these critical areas and strengthening their local economies. If all goes well, this could encourage many investors and homeowners to go beyond London property investment for their next purchase.

Additionally, the Chancellor promised to put further investment towards UK regeneration schemes.

From this year, the government will provide over £200m in funding to 16 high-quality local regeneration projects across the UK.

The report added the “left-behind places” cited in the government’s Leveling Up campaign and projects with costs under £10m would be specifically targeted to ensure a fast turnaround.

Again, this is excellent news for the property market.

Regeneration is a magnet for future growth and demand: resulting in amenities that improve the local area, which attracts

1-bedroom downtown Toronto condo listed for $400,000

04/04/2023dansa

#GTAHomeHunt is a weekly series from the Star that gets into the details of real estate listings in Toronto and the Greater Toronto Area. Have a tip? Email us at [email protected]

Prices: $399,000

Neighborhoods: Kensington — Chinatown

X-factor: This one-bedroom condo apartment at 60 St. Patrick St. is on a quiet street downtown, steps away from the Art Gallery of Ontario and Grange Park.

Accessing the heart of Chinatown to the west or Eaton Center to the east will take less than 15 minutes on foot or by streetcar, and the St. Patrick subway station is just a five-minute walk away. Nearby, there are countless restaurants, cafes, shops and grocery options.

The building itself offers an outdoor pool, sauna and exercise room, according to the listing, and the condo fees are $600 per month.

According to realtor Othneil Litchmore, that’s not a bad price. What makes it even better is that, according to the listing, the fees also cover all utilities and cables.

“That’s a really good thing,” Litchmore said, adding that this kind of offer is typically only seen in older buildings.

Condo fees for a unit in a new building might cover only water, he explained.

Overall, the

4 reasons you should look at a hard money loan for your real estate purchase, refi, or cash-out

31/03/2023dansa

Sponsored – The following content is created on behalf of Hard Money Lenders Arizona and does not reflect the opinions of Gray Media or its editorial staff. To learn more about Hard Money Lenders Arizona, visit HardMoneyLendersArizona.com.

PHOENIX (Arizona Hard Money Lenders) – Whether you’re looking for a home to stay in for the long term, fixing up and flipping houses, or creating VBROs, Airbnbs, or rentals, there are two ways to buy real estate – with cash and with financing. If you’re in a position to pay cash, you don’t need to worry about jumping through the flaming hoops between you and a mortgage. In fact, it might be time to consider becoming a private investor in others’ purchases. But that’s a story for another time. Today, we’re focusing on people who need financing to buy or refinance residential or commercial property.

Aerial view of a residential neighborhood

Most people believe a mortgage is the best – possibly the only – way to get the money you need to become a property owner. Securing a traditional mortgage can be tricky. It requires a massive amount of paperwork and it’s not a speedy process. It can take weeks or even months for the money to

Canadian Real Estate Affordability Got Worse With Higher Rates, What Gives?

20/03/2023dansa

Canadian real estate prices are falling with higher mortgage rates, but has it made it easier to buy? Bank of Canada (BoC) data for December’s new uninsured mortgage loans shows the highest rates in well over a decade. Interest costs are rising faster than prices are falling, meaning worse affordability. The hiccup is due to the speed at which rates increase, and affordability is expected to improve in the coming months.

Canadian Mortgage Rates Have Surged To The Highest Level In Over A Decade

Mortgage rates are on the climb, which isn’t news to anyone in Canada. It’s the speed they climb that’s remarkable. The average interest on a new mortgage jumped 0.24 points to 5.53% in December. It was 3.53 points higher than a year before, more than doubling the record low recently experienced. Canada hasn’t seen a mortgage rate this high since the Great Recession.

Canadian Mortgage Rates Have Been Surging Higher

The average rate paid on new residential mortgages in Canada.

Source: Statistics Canada; Better Dwelling.

Prices have yet to reflect the full increase in mortgage rates, despite coming down from the peak. Home prices peaked in March 2022, the same month the BoC began raising rates.

Tucson real estate companies agreed to pay $375K in consumer fraud case

10/03/2023dansa

Two Tucson real estate companies accused of consumer fraud agreed to pay $375,000 in restitution and fees, according to the Arizona Attorney General’s Office.

Of the accused in the 2021 case were companies Deed and Note Traders and 881Home as well as their manager, David Kinas, for hiding or misrepresenting the underlying mortgages for homes they were selling, ultimately trapping consumers into mortgages they never bargained for, according to a Thursday news release.

“David Kinas and his real estate companies sold the promise of home ownership with rent-to-own property sales to Arizona consumers, but the home-buyers instead received homes weighed down with the sellers’ own undisclosed mortgage debts,” Attorney General Kris Mayes said in the statement.

Arizona Attorney General Kris Mayes, seen here during her ceremonial inauguration Jan. 5, 2023, said David Kinas and his companies decided Arizona consumers, selling them properties with undisclosed mortgage debts.

According to the lawsuit, Kinas had also failed to pay some of the underlying mortgages, even having his companies foreclose on homes after they had already been sold to consumers.

In a breakdown of Kinas’ handling, the attorney general’s office said that consumers were sold homes through a rent-to-own arrangement with owner-provided financing or seller carry-back financing. Kinas’ companies would act as both the seller and the lender, rather than as a bank or other mortgage lender.

Furthermore, consumers weren’t given clear title to

China to guard against risks among property developers – Premier Li

05/03/2023dansa

BEIJING, March 5 (Reuters) – Warning that risks remain in the property market, China’s government said in a report released at parliament’s annual opening on Sunday that it would promote the sector’s stable development and prevent disorderly expansion by developers.

Premier Li Keqiang made guarding against risks to top property developers one of the government’s priorities this year, amidst still cautious cautious buyer sentiment, following through on the work done at a key economic meeting in December.

“There are more potential risks in the real estate market and some small and medium-sized financial institutions are exposed to risks,” Li said in the government’s work report for 2023.

Since mid-2021, the property sector has grappled with a liquidity crisis, with many developers defaulting on, or delaying, debt payments as they struggle to sell apartments and raise funds. Around half of the 30-odd Chinese developers listed in Hong Kong have defaulted on or delayed bond payments.

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“There are many risks in real estate for homebuyers and property developers, such as buyers’ threat of stopping mortgage repayments, failure to deliver pre-sold homes and default on debt by developers, which indicates a lack of consumption power and confidence,”