The past few months have been a whirlwind of emotions for many people. As we all wrap our minds around the current situation, there’s no doubt that coronavirus has dramatically affected the way we live and how our society operates. There is no clear answer on when things will be back to normal, but the real estate market persists.

While real estate continues to be an essential service, homebuyers and sellers will be required to evolve the standard process to protect against spread of the virus. The short answer is, yes, you can use remote closing to complete your home sale. In fact, over the last decade digital home closing has been a trend, but in this environment more people will be leaning on it than ever before.

Typical process to close a home

197 Views, 0 Comments

Bank maintains overnight benchmark rate at 0.25%

As expected, the Bank of Canada announced that it is holding its key interest rate target at 0.25%. The Bank acknowledged the hefty economic impact due to COVID-19, and although the pandemic appears to have peaked, there still remains a high degree of uncertainly around the economic recovery.

The next interest rate announcement is scheduled on July 15, 2020. Read the release below:

Massive policy responses in advanced economies have helped to replace lost income and cushion the effect of economic shutdowns. Financial conditions have improved, and commodity prices have risen in recent weeks after falling sharply earlier this year. Because different countries’ containment measures will be lifted at…

171 Views, 0 Comments

The impact of COVID-19 has been felt across the province, country and the world at large, as so many of us have pressed pause on routines, plans, businesses and even our short-term goals. What is just as important as keeping you and your loved one safe amid this unprecedented crisis, is remembering that this is temporary. Life will, eventually, start to regain some normalcy, and we’ll be able to breathe new life into goals that we previously put on hold.

If investing in Ontario real estate was part of your 2020 vision, continue to keep your finger on the pulse. An experienced Realtor will help you stay abreast of what is happening within real estate markets across Ontario, which have shown strength and favourability. Below we share some of our top…

167 Views, 0 Comments

Up until mid-March 2020, Canadian real estate was on track for a busy spring market. As the pandemic hit and social distancing measures took effect, the resulting business closures and greater economic uncertainty lead to a dramatic (albeit temporary) downturn for home sales across the country and around the world. Interestingly, Canada’s decline in transactions was proportional to the decline in new listings hitting the market, which meant market balance didn’t change a whole lot in many regions. Seller’s markets were still seller’s markets, inventory was still low, and the competition was still fierce. Even during the pandemic, RE/MAX brokers reported multiple-offer scenarios in key markets such as Toronto, Ottawa and Vancouver, among other major…

148 Views, 0 Comments

Canadian real estate kicked off 2020 with a bang, but there are conflicting opinions as to how we’ll finish out the year. Canada’s federal housing agency has warned that average house prices could fall by up to 18 per cent over the next 12 months – a dismal prediction that’s being challenged by RE/MAX based on market activity from coast to coast.

Basic economics has taught us that supply and demand dictates housing prices, and according to what RE/MAX brokers are reporting at ground level, housing inventory is down in many markets, demand is still high, and multiple offers are a common scenario. Assuming that demand continues its current course, Canadian real estate prices will likely remain relatively stable or experience a single-digit price…

153 Views, 0 Comments

For most home sellers, the goal is to sell their home for the highest possible price and in the shortest amount of time. Two ways to achieve this is with the right asking price, and by staging the property. So, do staged homes really sell faster, and for a higher price? The short answer is yes, and here’s why.

Do staged homes sell faster?

According to the Real Estate Staging Association, staged homes spend 73 per cent less time on the market than their un-staged counterparts. Truthfully speaking, even an un-staged home can sell under the right market conditions. A seller’s market, characterized by high demand and low inventory, generally means buyers are likely to scoop up what they can get. In a buyer’s market, there are more homes for sale than…

159 Views, 0 Comments

To our valued customers and real estate consumers,

We know this is a trying and stressful time for all of us in Canada. Things are changing almost hourly with government recommendations at the federal, provincial, and municipal levels.

At RE/MAX, we want to offer you stability and comfort knowing your real estate needs are still being met in a safe and responsible manner. On remax.ca, we continue to offer up-to-the-minute listings, accurate home estimates, and timely, valuable real estate news — especially important at this time.

Rest assured, while we remain open for business, our agents and brokers are taking all necessary precautions as recommended by the various health agencies and government.

  • Our agents are limiting contact with the…

149 Views, 0 Comments