Luxury Homes in Boca Raton FL | Luxurious Living in Palm Beach County

Boca Raton & Palm Beach – The Beverly Hills of Florida

A World of Unimaginable Luxury and Lifestyle Might Be Just Right for You

It’s easy to sing the virtues of America’s paradise state. If anyone can appreciate the beauty, elegance and potential of Florida, it would be a Canadian suffering through another snowstorm. The cold, isolation, lack of social and leisure activities leaves us asking; “Is this all there is?”

Photo courtesy of downtownreporting.com




From my Uncle’s Florida youth stories to my sister’s family’s success in the Sunshine state, to my own vacation experiences, I think a life in Florida would be time very well spent. So I’d like to introduce you to a place you may not have heard much about. A land of palm trees, ocean views, and endless leisure time activity. It was the vision of an American who believed everyone should live in paradise (No, it’s not Walt Disney or Donald Trump).

I want to believe that the cold, snow and traffic congestion along with the endless taxes will go away, but we know they won’t.  It’s better to try another city in a beautiful state. I hope this post makes you aware that you have options. And in this place, you’ll enjoy a profoundly different lifestyle and not really have to give anything up.




Is South Florida in your Future?

Rolls Royce Ghost
Don’t worry, you can get your Rolls tricked out too! Pic courtesy of exoticslimited.com

The state’s population has risen quickly beyond the state of NY. Many of Palm Beaches new residents are from NY which is why some call South Florida, NY’s 6th borough.

Just the word Florida conjures up images of luxurious palatial homes, palm trees swaying in warm breezes, sparkling swimming pools, expansive stretches of sandy beaches, and seas of boats moored in harbors. It’s where luxury living has been elevated to its limit and also where foreign real estate buyers purchase a home only because they need its Yacht moorage.

Take a quick look at the real estate forecast for Palm Beach County and for Miami Dade County and how this area is booming, with an even more optimistic outlook for employment and business.

Top Reasons to Move to South Florida

And the warm colors, latin calypso music reverberating from posh restaurants where you can eat anything imaginable is sure to captivate most of us in the cold Northeast and others from the UK, Russia, or Germany. The idea of moving here isn’t so outlandish anymore even for those with families. The south Florida invasion continues. The benefits continue to pile up higher than another Upstate NY snowstorm. It’s time to consider your move.

Of all the places in South Florida to move to, Palm Beach might be the very best choice. From Golf to tourist attractions, to incomparable waterfront luxury homes, all you’ll need is a good Palm Beach Realtor to get the process started. Take a good look at the Florida housing market in 2018.

Top 10 Reasons to Move to Palm Beach

Here’s my top 10 tongue-in-cheek reasons to move to Palm Beach:

  1. warm weather all the time (they complain to city hall when it gets below 70)
  2. you’ll sleep better after a day of tennis, golf, fishing, windsurfing, talking or shopping
  3. you don’t have to eat the same food again for 5 years
  4. you can’t jog the full length of the beach (you’ll have to take the bus back)
  5. swimming pools are mandatory (bring lots of pool noodles)
  6. no state income tax (the Democrats want this place banned)
  7. no inheritance tax (bring your kids and grandkids and it pays for itself)
  8. private schools galore for your kids (you won’t have to see them anymore and they’ll actually turn into decent citizens)
  9. endless beaches, blue sky, turquoise waters, sun umbrellas and relaxation (you’ll faint from a lack of pain)
  10. you can drive your boat everywhere (make sure you get your boaters license at the convenience store)
Condos in Downtown Boca Raton FL – photo courtesy of bocaratonflhotels.com

The Nouveau Riche Are Here Too

When you see the average closing prices of properties, no state tax, no inheritance taxes, and low cost of living, you’ll understand why half of New York hightailed down here to Palm Beach County.

The real shocker however, is that most of the buyers now are young, in their 20s, 30s and 40s.  Current residents are wondering how they will be able to handle all these new shuffleboard players.




And they’ll all be rubbing shoulders with some of the wealthiest business owners around the world at exclusive clubs and resorts. Boca Raton and Palm Beach are for powerful business connections. You’ll be glad you brought your golf clubs and polo stick and made the move to sunny Florida.

Another important benefit of buying condos or homes in South Florida, is buying them as a rental investment property.  This is one of the best cities for rental income.  Should you not want to live here just yet, you can rent your place out at crazy rental prices.




While spectacular, opulent living is the order of the day in South Florida, it might be at its peak in the city of Boca Raton, in Palm Beach County which is safely up the highway from the greater Miami area. At the right spot, you’ll enjoy the common sites of Lamborghinis and Rolls Royces cruising the streets while yachts slide by in a nearby waterway.  And while the ultrarich might live in the Palm Beach country area, Boca Raton is the place they prefer.

“There’s a casualness about Boca that surprises people,” admits Michele Bellisari, a realtor who moved here from Canada with her parents in 1978. “It’s not as snobby as people think. At the end of the day, we’re all working here, raising our families just like everyone else.”  — excerpt from floridatravellife.com.

A Californian named Addison Mizner called Boca Raton the sunporch of America.  His dream was to create the world’s most architecturally beautiful playground. He was refering to the spectacular miles of palm lined beaches that now draw hundreds of thousands of tourists to the the Palm Beach area. Mizner planned it all from boulevards to palm mansions to city hall to the polo grounds. It would represent the ultimate in American lifestyle.

Boca Raton FL, the playground of millionaires.  You might be it’s next lucky resident. There are 3800 homes for sale in Boca Raton. Could it hurt to check them out? Check out the prices. Surprised?

Cities Near Boca Raton Average Price
Boynton Beach $222,000
Coconut Creek $150,200
Coral Springs $313,100
Deerfield Beach $141,300
Delray Beach $169,100
Parkland $579,500
Pompano Beach $173,000

 

A Short Video introduction to Boca Raton’s culture and lifestyle

Homes for Sale In Boca Raton FL

There’s a home for every budget here in Boca Raton. Starting at $25,000 and quickly rising to $18,000,000.

What does a $6 Million dollar home look like in Boca Raton? This home below isn’t one of the most expensive on the market, yet these 2 pictures tell us a lot about living here. Panoramic waterfront views, resplendant palms, soaring 20′ ceilings, spacious poolside patio and chef’s kitchen make it very special. See all the listings on my client’s website: homesforsalefl.com

Boca Raton Home For Sale: 500 E Alexander Palm Road, Boca Raton, Florida

A pleasant introduction to the unique architecture of Boca Raton

And you’ll want this beautiful estate in Boca Raton if only for the tennis!

Right on the waterway with your own dock and amazing waterfront views. Watch yachts go by, don’t wave to them, pretend not to notice and keep reading your book.

Magnificent waterfront luxury home in Boca Raton




And what you’ve always wanted a luxury condo in Boca Raton next to the ocean and the Boca Raton Resort Golf Course

Living in Palm Beach County. Gotta Love It!

Ready to Start Looking for your new Lifestyle in Boca Raton or Palm Beach Florida? My client Michael Goldberg, a Palm Beach Realtor™ with great insight into the market is ready to help. Keep in mind that Michael knows about Palm beach homes for sale  and Boca Raton homes for sale which aren’t on the MLS. This is common in exclusive communities in South Forida.  It’s who you know!




Is this the right year to buy rental income property?  Find out more about the best investments in 2017 including investing in real estate.

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Gord Collins serves Los Angeles, Anaheim, Beverly Hills, Malibu, San Diego, San Francisco, San Jose, Fresno, Santa Clara, Sacramento, Mountainview, Palo Alto, Sunnyvale, Riverside, Rancho Cucamonga, Costa Mesa, Thousand Oaks, Simi Valley, Oceanside, Long Beach, Huntington Beach, Carlsbad, Santa Clarita, Temecula, Stockton, Palm Springs, Chula Vista, Escondido, Santa Monica, and more California communities.

 

US Buyers Guide to Canadian Real Estate

Canadian Real Estate Buyers Guide!

Buy or sell when the market is moving. With the Tax Cuts and Jobs Bill, the US economy is surging. Tax cuts mean Americans will have more money, yet the US real estate market isn’t as attractive anymore.

US real estate prices may fall while the US dollar is falling in value.  Investors are looking for better investments, and although the Toronto and Vancouver markets are stagnating at present, they will likely start to surge in June.

With the prices of oil and Canadian interest rates up, the Canadian dollar is rising (now over 81 cents US). That makes Canadian real estate a worthy in investment, particularly as a rental income property in markets where rental units are shrinking.




The fall of the US housing market and Canadian housing market have been heading in opposite directions as we enter into 2018. With the US dollar forecast to fall, Americans may improve their capital gains in the Toronto, Calgary or Vancouver markets.

The 25 cent bonus on the USD/CAD exchange rate at a time when home prices are in a temporary lull could give US property buyers a 30% premium or more when purchasing homes or condos for sale in Canada.




That’s not all. Right now in early 2018, outside of the Vancouver and Toronto regions, in cities such as Edmonton, Calgary, Saskatoon and St Johns, real estate values are very low, giving you even more purchasing power. Experts are suggesting prices will go much higher due the housing crisis. Homes and Condos are in short supply and are bought quickly.

A 25% Bonus:  It’s a very positive environment for investors and well worth learning more about.




If the Canadian economy grows alongside of the US economy, we could see very ideal conditions for buying Canadian homes, condos and cottages, and even rental property during the next 6 months in Canada.

You  may never have such amazing purchasing power for your money again. It’s worth it to contact a realtor here in Canada and inquire about homes for sale.

Prices are rising moderately in Toronto, but there are homes for sale in all regions. You can check now for new homes for sale in Toronto, Mississauga, new homes in Vaughan, new homes in Newmarket, and Bradford just outside of Toronto. Why Toronto?

Do you know anyone looking for a safe investment with a 30% ROI that’s growing? Make sure they see this!




Vancouver has a foreign buyers tax which will erode your return and wealth. Vancouver is discouraging further investment. They don’t want your money. Toronto on the other hand is open to such investment and has a huge number of Toronto condos being constructed.

There are huge housing developments such as in Vaughan and Bradford where thousands of new homes are being built. If you prefer new properties to rent out, as an income investment, this might be a good target for you. The hot ticket for investors right now is rental property investment.

Your Guide to Real Estate Investment Opportunities Here in Canada

The purpose of this guide is to make you aware, and give you some information on how to go about investing in real estate in Canada.

Liberal Foreign Ownership in Canada

Canada is a politically stable, low risk and safe place to invest and it is open to foreign investment. While some provinces have limits on foreign ownership of land, Canada is for the most part wide open to foreign real estate investors. There are no taxes on buying property in Canada, however you will be taxed when you sell. With Canadian mortgage rates so low right, and with not much increase expected, it may be wise to use a Canadian mortgage financing company to purchase your property. However, you could use your own bank.

To understand all the legal requirements necessary to buy property in Canada and obtain mortgage financing, it is wise to contact a licensed Realtor in Canada.




Best Places Buy Homes in Canada

The investment landscape is always changing and certain regions of Canada are amidst different circumstances. Vancouver has just gone through a real estate boom and the local government has imposed taxes to discourage foreign investment.

Toronto is a very hot real estate market and low housing availability and other conditions will keep prices high for sometime. Prices in the greater Vancouver and Toronto regions are high.

Canadian government policies have sought to restrict first time buyers who may lack the financial resources and be carrying too much debt to buy a home. This is a precautionary measure and may impact your attempt to obtain financing from a Canadian bank or mortgage company.

Kelowna BC is not impacted by a foreign buyers tax and is currently in high demand. Calgary and Edmonton’s real estate market is flat and could represent an ideal purchase. However, the oil and gas sector may not return to health for many years. Areas and towns outside of Toronto have not seen the huge price increases, thus may offer better ROI than a condo in downtown Toronto.

Finding a Good Realtor

There are tens of thousands of Realtors to choose from in BC, Alberta and Ontario, however most are inexperienced agents without connections, expertise, market knowledge, or marketing power, and other are near retirement with insufficient motivation to work hard for you. To find a good real estate agent, you’ll want to review their online presence. Do they have at least one website and social pages where you can get to know them? Transparency and marketing effort are important.
You can search for a Canadian realtor line via google.ca, or through realtor.ca, or reco.on.ca. Ontario realtors are licensed and governed by RECO or the Real Estate Council of Ontario. You can get answers to a lot of questions on the RECO website, however, you’d be better advised to speak to a Realtor to save some time on your information search and avoid becoming confused and demotivated.

Your interest in buying Canadian real estate is wise. Keep your intent alive by speaking to a real, licensed Toronto area Realtor right now.




Realtor™ and Legal Fees

There are negotiable and set fees when buying real estate via a Realtor™. The realtor will typically be paid up to 2.5% of the sale price of the property. The buying agent and selling agent will split up to a 6% transaction fee. However, there is no limit on Realtor™ fees. It may be wise to avoid a Realtor™ who charges low fees, as they may be reluctant to put a good effort in for you. That lack of time and resources could translate to poor buying decisions. Given the massive return on investment possible during these times, it’s wise to pay a Realtor™ their normal fee so you receive their full attention and support.

Other Fees

When you purchase a home or condo, new or old, you may be required to pay a deposit, appraisal fees, home inspection fee, survey or certificate of location cost, title insurance, land registration fees, water test, septic tests, Estoppel Certificate fees, and condo or strata fees, property taxes. This is why hiring a knowledgeable Realtor™ is wise. No purchase of real estate is without risk.

Financing

If you need financing to buy a property in Canada, you can obtain it via Canadian banks or what’s called the secondary mortgage market. Banks or mortgage brokers are a good choice depending on your credit situation. These lenders are more amenable to lending when the property is located in Canada. Secondary mortgage lenders may require more collateral and charge higher mortgage rates and fees, while banks may not lend you money if you are considered to much of a risk. You will need to provide documents related to your financial wealth, income and credit worthiness when you apply for a mortgage in Canada.

You can also use US banks for financing and the advantage is that you have a credit rating in the US, which US lenders might have more respect for. However, legal agreements between the US and Canada, give lenders the ability to collect on debts, so don’t think that because the property is in Canada, that it’s an issue. The lenders know they can foreclose on the property if you’re in default of payments.

You may have to pay a down payment of up to 35% of the property. It’s important to remember that is hard to verify credit worthiness of a foreign buyer and more challenging to collect on money’s owed. You can expect to pay higher rates because of the increased risk.

Canada’s CMHC offers mortgage insurance for home buyers who can’t pay the normal downpayment requirement of 20%.

Housing and Capital Gains Taxes

On purchase, you don’t have to pay taxes on property. Taxes such as the Ontario land transfer tax, Toronto land transfer tax, and British Columbia’s foreign buyer tax are payable by the seller. However, they do raise your purchase price since the charge will be passed onto you as part of the purchase price.

Non-Resident Income Tax: You will be subject to a non-resident withholding tax of 25% of the gross sales price. You can request to have the non-resident tax withheld on the net capital gain on the disposition instead of the gross sales price.  You can fill out the required forms with the Canada Revenue Agency and also obtain a Certificate of Compliance. You must notify RCA within 10 days of selling the property.

Canadian Mortgage Insurance

If you finance your home and need to take out an extra loan to help with the downpayent, you are required to purchase homebuyers mortgage default insurance. Canada’s CMHC provides mortgage loan insurance that enables you to buy a home with a minimum down payment starting at 5% of purchase price. Find out more at CMHC.

If you finance the purchase, your mortgage provider will require you to carry homeowners insurance to protect the value of the home or condo.

Putting an Offer on a Property

To find a good home, condo or property to buy, read the homes for sale tips page to whet your appetite and gauge the prices and types of homes available here in Canada. Areas such as Toronto, Mississauga, Newmarket and Vaughan are ones you may feel safer in investing in. Visit the pages covering new homes in Newmarket, new homes in Bradford, and new homes in Vaughan to learn more about housing developers here.

An offer is a formal, legal proposal to purchase a property. You can put forward a written offer to purchase with it may be a conditional one or unconditional one. Conditional ones have to do with on approved financing or the repair of certain features of the property before title transfer.




Your purchase offer, created and reviewed by your Realtor™ and real estate lawyer will often include:

  • your name, the name of the person selling the home and the address of the house or condo
  • the price you are offering to purchase
  • any items in the home that you want to have included in the purchase price and repairs that must be completed
    financial details, such as the amount of the deposit you are including, any payable interest on that deposit, and whether you’re paying a straight, all cash payment
  • the details of your mortgage financing
  • the closing date for the sale and the date of possession of the property (normally 30 to 90 days from the date of the signed agreement)
  • a request to the seller for a copy of a current land survey
  • the expiry date (the date the offer ends any conditions you demand such as passing a home inspection




Accepting the Offer

The buyer can and often will make a counter offer to yours. The market in Toronto and Vancouver is scarce giving buyers the ability to demand a higher price. If the seller accepts your offer, then on closing day (date you take possession), your lender will forward the moneis to your lawyer or notary all the money from your mortgage. You will also provide to your lawyers, your down payment usually with a certified cheque. The lawyer or notary will then pay all the fees and other costs for you, and send all the money to the seller’s lawyer. Your lawyer or notary will then register the property in your name, and send the deed and keys to you.

The property is now yours and you are considered the title owner of the property (as governed by the Ontario land titles system), registered in the specific province where you bought the property.

The Buyer’s Guide to Buying Canadian real estate is presented as a helper to give you an overview of how to buy property in Canada. For accurate advice and legal counsel on purchasing property, please speak with a licensed realtor or real estate lawyer.

Best Cities to Invest In Canada?

 

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Learn more about the 2 hottest housing markets: The Toronto Real Estate Market and the Mississauga Real Estate Market.




The above information is not intended as professional advice to buy or sell property, but only as an encouragement to seek out the assistance of a licensed Realtor, Canadian investment advisor, mortgage broker or other professional for you to explore current opportunities. Political, legal, currency and other factors may reduce the return you receive on your real estate investment.

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Toronto Homes for Sale – Houses Condos Townhouses TREB MLS Private Listings

Buy a Home in Toronto, Canada

Most people from the US, UK or other countries like Toronto a lot. One thing for sure, they’re coming here to buy homes and property. The really smart ones will buy property. Because, property is really rare and can be more easily built to purpose.

Yet, the real demand is for homes. New homes are purchased very quickly  in the Toronto area. They’re a rare find.  While you can find new homes for sale in Mississauga, Newmarket, Aurora, Bradford, Vaughan, Richmond Hill, Markham, and Milton, an older home in an established neighbourhood provides the real comfort you’re seeking. The strong interest on my site for homes for sale in Bradford, Newmarket, Aurora, and Vaughan reveals that many Toronto homeowners are looking to sell their $1 Million dollar home and move north.

You won’t have any trouble selling your Toronto home. There are all cash buyers from countries around the world as well as buyers right here in Toronto. What you need help with is finding a new community and neighbourhood, and plan how you’ll invest the winfall from selling your home.  The key is to find a good Realtor™ in Toronto to help guide your choice.

Check homes for sale in Toronto Right now at HomesforSaleGallery.ca – Full MLS Listings!

Where are Chinese/Asian Buyers Buying Homes?

I’d like to Welcome visitors from the Middle East, China, Malaysia, Germany, and Hong Kong. Your choice to invest in Canada and move here is good for you and good for us. Truth is, foreign investment in Canada is at an all time low and this is hurting our economy. An improving economy, lower Canadian dollar means you’re investing in property that will appreciate.

These problems will be resolved soon, as the US begins to bring jobs back to its country. Selling your home and buying one in Canada is wise – Canada will benefit from economic and cultural improvment in the US regeneration in the US. The US has had terrible troubles in the last few decades, but looks to be ready to climb out of their depressed state.




Canada is safe, healthy, and different races and nationalities get along together as well as in any country in the world. Let’s not forget that Canada is a capitalist country and it is competitive. Come here with an open-minded, entrepreneurial attitude and you’ll fit in nicely.

Toronto Real Estate Charts (from TREB)

Here’s what has happened throughout the greater Toronto region. Please see the homes for sale Newmarket, homes for sale Vaughan, homes for sale Mississauga, York Region, and homes for sale Bradford pages for more detailed insight.

 

Screen Capture courtesy of the Toronto Real Estate Board

 

Screen Capture courtesy of Toronto Real Estate Board

What are The Best Neighbourhoods to Buy a Home in Toronto?

There’s no real answer to that question. I know people living across the greater Toronto region and each of them believe they live in the best neighbourhood.  Your choice of where to buy a home here will be conditioned by where you want to work.  Transportation routes aren’t good. I worked 30 km from my home and it was a 1 hour commute to work every day. When it snows, it’s worse.

A huge number of people work to downtown Toronto, which may appeal to you if you’re from a crowded city in China or Hong Kong. There are a lot of existing condos and many new ones being built. I have friends from Hong Kong and China who live well north of Toronto in Bradford, Aurora, Newmarket. Have a look!  They’ve purchased large detached homes and they enjoy the more rural lifestyle with clean air and very good schools for their kids.

Cities such as Newmarket, Vaughan, Milton, Oshawa are in very high demand.  Homes in some Toronto districts are pricey, but likely not out of your range. If you can spend $2 million+, the area of King City and King township may interest you. This is where the wealthy are moving to. Magna International is an auto parts manufacturer in the area. This company is set to explode in growth due to its supply of parts for self-driving cars. Magna’s new headquarters will be in King township (north of Vaughan, west of Aurora)

If you have a modest budget, homes in Bradford, Orangeville, Stouffville, Keswick may have the least expensive prices for detached homes. For find condos for sale, Mississauga and North York are your best choices. Toronto and Mississauga are large cities and there are condos for sale across them.

If you need help with finding Toronto homes for sale, and advice on buying a home in Toronto, please Contact my business partner Damir Strk (homesforsalegallery.ca) for reliable, trusted assistance.  His experience with the Toronto and Mississauga real estate market will be a big asset for you as a buyer or real estate investor.

Realty Posts: When should I Sell My House? | RETS IDX | Zillow Home Search | First Time Home Buyers | Canadian Home Buyers Guide

Best US Cities to Buy Rental Income Properties 2018 to 2020

Hottest Cities for Real Estate Investment 2018

Which are the Best Cities to Buy Real Estate?

It’s a rosy outlook for the housing markets in America and anyone buying real estate. Prices have moderated, new city markets are catching investor’s attention. However do you know which are the best cities to invest in real estate in 2018

Do you have a strategy to buy in the best cities, use a property management company or use property management software to run your portfolio.

You’re just about set to make 2018 a great investment year. Have you looked at the forms of property investment should you choose — rental income suites, apartment buildings, or student housing reits? Open your mind the right type of property investment in the right city will outperform everything else.




Which cities and states offer the best employment outlook, lowest taxes, regulations, large millennial population, and a pro business climate? Florida, California, Michigan, Colorado, Miami FloridaBoston, Bay Area, New York , Massachusetts, or is it Ohio and Michigan?

Need Better Software to Help you Manage your Property Portfolio?

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The most recent update on hot investment cities (average profit US-wide was at $336,000) for sellers still has San Francisco as the tops.  And San Francisco Sunnyvale San Jose might be tops due to high rental prices, lack of housing and land, silicon valley paychecks, and an improving economy means there’s no bubble and no crash possible.

But the Bay Area isn’t the only city with potential.  Dallas, Houston, Austin, San Antonio and Fort Worth are getting special attention these days. Texas is growing. Michigan has huge potential. Even Boston has potential. Businesses are relocating to these cities for a lot of reasons.

In this era of investment, the best property investments may be in other cities. Even if you intend to stay close to home, knowing what’s going on in other states might provide a superior return on investment.

As you may have read in my very popular post on US Housing Predictions for 2018 to 2020, the US housing market is hot and some cities are hotter than others. No housing crash is forecasted. The list below of the top 80 cities to invest in real estate represent your best opportunities for high returns. Even normally depressed quiet markets are coming to life and beginning to catch investor’s eyes. It’s good news for Michigan, Florida, California, Texas, and New York and even better for real estate investors in 2018.

Record Demand for Home, Condo and Apartment Rentals

The difference in this latest real estate rebound is the number of Americans renting and still needing to rent a home or condo.  That’s created the incredible income investment opportunity called rental income investment properties for passive income investments or self-managed property investments. 30% to 40% returns are not unheard of. It’s once in a lifetime wealth building. The kind of cap rates major investors can only dream of. Get some tips on how to do homes for sale searching better.

Just an aside on investment opportunities in condo/apartments is student housing investment in Vancouver. You may want to check out the underlying fundamentals and demand for student housing.

Scorching hot opportunity in the best cities! Will the hot markets of San Francisco, San Jose, Silicon Valley, Phoenix, and Los Angeles do as well as expected? Those cities with the highest home prices are not your only option. There’s plenty more towns and cities across the nation where you can buy rock bottom and sell high including this list of real estate by zip code.  Cities you’ll read about below with lower home prices and rising employment rates may be your best bets for 2017 to 2020.

One high performing rental income related opportunity to investigate is student housing investment in Vancouver. The student housing market in Vancouver is like no other place. Foreign families like Vancouver BC in Canada for many reasons. And the Canadian government is raising the limits on foreign students and on post grad immigration.  That means lots of demand coupled with high rents which translates to big profits. A company called CIBT has dominated this sector and is growing fast. You can invest with them like a REIT.

 

Sharing is Good for your Professional and Social Life!

Make sure others learn about the once in a lifetime opportunity in real estate investment with rental properties.

With strong economic growth as certainly continuing, rental income investment offers multiple ways to grow revenue. And your property may look even better to another investor when you sell. Lets see what the experts predict and what the stats say about the best cities and zip codes.




Renter Statistics:

  • Growth in rental demand was largest for people with incomes lower than $25,000; a group that accounted for four million new renters over the past decade.
  • Growth for people with household incomes over $50,000 accounted for 3.3 million new renters.
  • There was an increase of 1.6 million renters for those with incomes over $100,000 a year.
  • The amount of rental stock also grew, and the single-family house share of the market increased from 34-40% of the total rental stock
  • Vacancy rate was less than 5%  in 75% of the United States largest cities by 2015. 

Stats courtesy of go.homebay

Apartment and Single Family Home Rental Price Index
Price Index Screenshot courtesy of AMERICA’S RENTAL HOUSING: Expanding Options for Diverse and Growing Demand

Houses for Sale – The Ultimate Home Search Source

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Skyrocketing Home and Rental Prices in California are a Continuing Allure for Investors

In major urban areas such as San Francisco, Los Angeles, Oakland, Boston and New York, the demand for rental properties is skyrocketing. Investors might see ROI of 30% or more on rental income property and that beats any stock market these days.

Foreign buyers too, are purchasing lower priced homes now, likely because of high prices on luxury homes along with the fact they can rent them out — passive income which is a hot topic for babyboomers in particular. Realtors are seeing a much different type of buyer today and they need to keep up on how competitive properties are in other cities in the US and Canada.  Investors just want a great return.

Home prices are rising everywhere, but what makes San Francisco so hot is its lack of housing stock and a booming job market. Where there is little growth in new housing development together with a healthy job market and a good demographic (millennials who can’t buy) the demand for rental housing has to explode.




percapitasanfrancisoExperts try to explain away this demand by blaming speculators and high housing prices, yet the driver of rental demand in San Fran is too many employed people with nowhere to live. And wages are rising. Silicon Valley’s rental market is so tight, there’s an overflow to Sacramento and other inland cities.

In-migration has been strong at a time when millennials are leaving home, contributing to rocketing apartment and home rental costs. This is fueling the tremendous demand for investment income properties. With no one building new homes and the government not acting to help, it’s up to private investors to take the helm.

With crazy high ROI, we’ll see rental income investors and developers race into these regions to build new properties. It’s a great investment situation for Americans, investors and realtors.




San Francisco is one area however that might not benefit. Its strong economy is driven by large tech corporations that add value to imported technology and products manufactured in China. Which is why Silicon Valley is hostile to Trump. California’s economic outlook is still very bright, but it’s low potential rental income outlook could send investors over to other US cities to invest in, such as those in green areas in the charts below.

Rental Income Property Investment Opportunities

With or without Trump, the US economic outlook is good. The outlook for rental income property is exceptional. Realtors and investment advisors should be looking hard at this market. Even babyboomer investors are looking at the potential of retirement income. Many babyboomers are a little nervous about how they’ll fund their “stay put” retirement plans.

They’ll need extra income to stay put and revamp their home over the next 30 years, and they may look to rental income to get that money.  A percentage may just sell their home and leave it to a developer/investor to turn it into the multi-family unit. That investor might be you.

Here’s Realty Trac’s outlook on the best US cities to invest for rental property income

usheatmap-rental-roi

Complicating your investment decision is another set of statistics from Realty Trac that shows the west still has the highest returns currently but the green zones are predicted to perform better.

best-rental-income-cities
Screen capture Courtesy of Realty Trac

How about a 32% Yield on a Single Family Home?

best-rental-income-cities-by-revenue

(Screenshot above courtesy of RealtyTrac single family rental market reports)



Top 80 Cities and their Potential for Passive Rental Income ROI

These converted stats in this chart from Smart Assets are very insightful. They used U.S. Census data, to calculate the price-to-rent ratio in every U.S. city with a population over 250,000. This is their list of 80 US cities below with the worst potential for rental property income investment appearing at the top (The ones at bottom such as Detroit have better potential, unless employment fails to recover in Michigan).

US Cities with Population above 250k Price-to-Rent Ratio

Home Price

(for a $1,000 Rental)

1 San Francisco, California 45.9 551000
2 Honolulu, Hawaii 40.1 481000
3 Oakland, California 38.5 462000
4 Los Angeles, California 38.0 456000
5 New York, New York 35.7 428000
6 Seattle, Washington 35.1 421000
7 San Jose, California 34.7 417000
8 Long Beach, California 34.6 415000
9 Washington, District of Columbia 32.0 384000
10 Anaheim, California 31.3 375000
11 San Diego, California 30.3 363000
12 Portland, Oregon 29.3 351000
13 Boston, Massachusetts 28.7 344000
14 Jersey City, New Jersey 26.3 316000
15 Denver, Colorado 26.0 312000
16 Chula Vista, California 25.8 310000
17 Santa Ana, California 25.3 303000
18 Sacramento, California 24.3 291000
19 Miami, Florida 23.4 280000
20 Austin, Texas 23.4 280000
21 Atlanta, Georgia 23.0 276000
22 Colorado Springs, Colorado 22.8 274000
23 Bakersfield, California 22.5 270000
24 Raleigh, North Carolina 22.4 269000
25 Riverside, California 22.4 268000
26 Lexington, Kentucky 22.0 264000
27 Albuquerque, New Mexico 21.9 263000
28 Chicago, Illinois 21.6 259000
29 Henderson, Nevada 21.6 259000
30 Chandler, Arizona 21.5 257000
31 New Orleans, Louisiana 21.4 256000
32 Virginia Beach, Virginia 21.1 253000
33 Fresno, California 21.0 252000
34 Newark, New Jersey 21.0 251000
35 Minneapolis, Minnesota 21.0 252000
36 Anchorage, Alaska 20.9 251000
37 Phoenix, Arizona 20.3 244000
38 Louisville, Kentucky 20.1 241000
39 St. Paul, Minnesota 20.0 239000
40 Plano, Texas 19.9 239000
41 Stockton, California 19.5 234000
42 Durham, North Carolina 19.5 233000
43 Las Vegas, Nevada 19.3 232000
44 Nashville, Tennessee 19.1 230000
45 Greensboro, North Carolina 19.1 229000
46 Mesa, Arizona 19.1 229000
47 Lincoln, Nebraska 19.1 229000
48 Oklahoma City, Oklahoma 19.1 229000
49 Wichita, Kansas 18.4 221000
50 Charlotte, North Carolina 18.1 217000
51 Cincinnati, Ohio 18.0 216000
52 Aurora, Colorado 18.0 216000
53 Kansas City, Missouri 17.4 209000
54 Tulsa, Oklahoma 17.2 206000
55 Omaha, Nebraska 16.7 200000
56 St. Louis, Missouri 16.7 200000
57 Orlando, Florida 16.6 199000
58 Tampa, Florida 16.6 199000
59 Tucson, Arizona 16.3 196000
60 Philadelphia, Pennsylvania 16.3 196000
61 Dallas, Texas 16.2 194000
62 Laredo, Texas 15.9 191000
63 Columbus, Ohio 15.9 190000
64 St. Petersburg, Florida 15.8 189000
65 Fort Wayne, Indiana 15.5 186000
66 Baltimore, Maryland 15.5 186000
67 Arlington, Texas 15.5 186000
68 El Paso, Texas 15.4 185000
69 Indianapolis, Indiana 15.4 184000
70 Houston, Texas 15.3 183000
71 Fort Worth, Texas 14.8 177000
72 Jacksonville, Florida 14.3 172000
73 Milwaukee, Wisconsin 14.2 170000
74 San Antonio, Texas 13.7 164000
75 Toledo, Ohio 13.3 159000
76 Corpus Christi, Texas 13.1 158000
77 Memphis, Tennessee 12.3 147000
78 Pittsburgh, Pennsylvania 12.0 144000
79 Buffalo, New York 10.7 128000
80 Cleveland, Ohio 10.5 126000
81 Detroit, Michigan 6.3 75000




What About the Local Economies?

Last year’s report from Millken research reveals the cities with the best performing economies in 2015. This was put out in December 2016.  Florida cities are showing a marked rise. Recent reports focus on the apartment rental prices in San Francisco, Sacramento, and San Jose as offering outstanding returns for investors.

best-us-city-economies-ranking

And this is Millken’s list of worst performing cities, likely the ones you might avoid.

worst-us-city-economies-ranking

Screenshot courtesy of Millken Institute. Read the detailed  Millken 2015 Best-Performing Cities report with rankings by economic component. Excellent insight to help you fine tune your rental income property investment choices.

Their interactive map of US cities with the best economies below is a very helpful tool to help you measure the investment prospects of one city versus another.

Lowest car insurance in these cities: LA car insurance, Boston auto insurance, Phoenix car insurance, San Francisco car insurance, San Diego car insurance, Seattle car insurance, New York car insurance, Indianapolis car insurance, Detroit car insurance, Philadelphia auto insurance, Toronto automobile insurance, or Chicago car insurance.

In this video below, Mike Hambright talks about apartment rental markets, and how to make money from cash flow and property value appreciation.




Are There any Warnings?

This graphic from Coreglogic warns about overheated city markets. Yet it also shows how markets like Silicon Valley, actually has lots of room for rent rate growth. And New York has the lowest rent rate to home price ratio.

Screenshot courtesy of Corelogic.com

There are so many real estate investment opportunities in the US and in Canada too. Hopefully, my amateur US housing forecasts, predictions and unguaranteed advice will help you find those opportunities for the best upside in cash flow, safety and equity appreciation. Be careful with any investment. Do your due diligence.

If you’re a realtor or real estate investor in Los Angeles, San Francisco, San Diego, Toronto, San Jose, Seattle, Chicago, Boston, New York, or Miami consider my Digital Marketing Services to help you build your realtor brand and and leverage the best sources of real estate leads.  Property investors from around the world are looking to buy. Because I’m an SEO specialist, I can generate real estate leads much more proficiently than lead generation companies. I can help you build a compelling unique value proposition and the highest exposure possible to homeowners and buyers across the US and Canada.  Let’s get your goals accomplished.

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Mississauga Real Estate Forecast 2018 ⌂ Housing Market Update November

Mississauga Real Estate Update & Housing Outlook

Mississauga is a great city to invest in and live in.  The fall market saw a small resurgence in sales in the city, and due to a paucity of houses for sale in Mississauga, Oakville, Etobicoke, Milton, and Port Credit, prices are almost certainly going to rise after the winter of 2018.

Prices of luxury homes fell dramatically in many regions and that skewed price reports as buyers actually abandoned house searches to focus on condos.

Now that the stress test reduction has lowered demand for homes over $700k, we’ll likely see price pressure on any homes under $700k (tongue in cheek). Well, okay there are no homes under $700k.



Average Detached Home Prices Mississauga Region – December 2017
City December 2017 November 2017 October 2017 September 2017 August 2017 July 2017 May 2017 April 2016 Price Change Last 18 months Price Change Last 8 Months
Burlington $959,071 $871,879 $895,457 $974,446 $944,564 $921,434 $1,083,144 $961,502 -0.3% -11.5%
Halton Hills $820,904 $790,683 $787,517 $706,500 $984,812 $819,770 $825,058 $828,719 -0.9% -0.5%
Milton $843,688 $841,998 $884,144 $853,790 $866,650 $875,123 $932,899 $765,973 10.1% -9.6%
Oakville $1,356,888 $1,438,656 $1,482,620 $1,393,860 $1,314,363 $1,368,523 $1,561,514 $1,191,503 13.9% -13.1%
Brampton $763,814 $776,280 $775,170 $766,132 $766,831 $750,856 $871,052 $660,015 15.7% -12.3%
Caledon $1,185,182 $1,001,753 $952,466 $918,712 $1,028,591 $1,083,138 $1,190,527 $755,494 56.9% -0.4%
Mississauga $1,140,965 $1,060,211 $1,034,338 $1,023,207 $1,066,015 $1,113,952 $1,136,083 $966,467 18.1% 0.4%

Mississauga has undergone a dramatic change in the last 10 years. A gigantic leap in housing prices along with an explosion of new condo developments has created a strong real estate market. Whatever your price, you’ll sell your home.

A new survey of business and consumer confidence is high, and buyers will find a way to finance the purchase of your home. If you’re asking, “Should I sell my house?“, the answer is probably yes.

Prices have consistently risen, right through the recession, and given the lack of housing available and strong economy and immigration trends, home and cond prices will likely climb.  For real estate investors, any property close to the city of Toronto will retain its value. Some districts have actually seen shocking rises in average price.




mississauga
Outlook for the City of Mississauga 2017

Speculation about how the Toronto housing market will fare in 2018 is driven by extreme lack availability, weakening construction, and a new government in July. Experts and real estate afficionados are pushing their positions on either side of the boom or crash issue. And as Toronto goes, so goes Mississauga.

“A strong economy and continued inflow of workers into the (GTA), combined with a prolonged shortage of homes for sale, have created a market where high, single-digit price appreciation remains the norm,” said Royal LePage senior vice-president Gino Romanese. “We expect to see another year of healthy price appreciation in 2016, although at a slightly diminished pace when compared to 2015, as the dynamics driving the GTA market right now seem unlikely to change in the short-term.”– from a report on Mississaugah.com

 

Sharing is Good for Your Social Health!

Check out the stats below and send this post to your friends and contacts who may be wondering if now is the right time to sell, before the housing crash. You can get your price this spring.




Is it Boomtimes or a Crash Ahead?

It’s now 2018 and it’s still a sellers market in Mississauga. Talk of a Toronto Real Estate crash continues.  Check out the crash indicators now.

Forecasting sales volume and housing prices in Toronto or Mississauga is fraught with some tough challenges. Despite the economic uncertainty and the risk of fast soaring prices of detached houses, semi-detached homes and condos for sale in Mississauga, I’ve collated some data provided by TREB to give us some projected prices for next year.

If 2018 is a repeat of 2016, then these estimated prices might be reasonably accurate. November’s estimate was only off by a couple thousand. If the market tanks because of unforeseen factors, well, then I guess everyone’s forecast will miss the mark.

Is this the right year to buy rental income property in Mississauga, Toronto, Richmond Hill, Vaughan, or Newmarket?  Rents in the GTA are skyrocketing. Find out more about the best investments in 2017 including investing in real estate.

Some stats from the lastest update provided by the Toronto Real Estate Board helps us understand what might happen in 2017, 2018 and beyond.

Surprisingly, the MLS® Home Price Index (HPI) Composite Benchmark rose in Mississauga and Peel region year over year. As you can see condos and apartments are in hot demand with a consistently high selling price.

Prediction: Toronto home owners will sell their home and move north to Bradford, Newmarket, and Vaughan.

Graphic courtesy of Trebhome.com

Buyers with a long term view have little to fear about the value of a home or condo in Mississauga.

finposthomestoronto2017
The Relentless Rise of Toronto Home Prices – 100% growth in 10 years. Screen capture courtesy of the Financial Post.

canadian-interest-rates

Is inflation in Canada a threat to derail the Toronto and Mississauga housing markets? The rates have been steady for quite a while with only a gradual increase for several years. It looks like there may be a small increase however it’s not expected to be enough to upset the housing market in 2018.

Graphic courtesy of inflation.eu Graphic courtesy of inflation.eu

Why Move to Amazing Mississauga?

Mississauga enjoys close proximity to Toronto, Toronto International Airport and the major highways of 401, 407, and the QEW.  Mississauga has had the lowest taxes of any town or city within the GTA for many years. Mississauga also possesses a lot of land for development. There is brownfield land for residential and commercial development and there are older buildings and properties that could be developed. Mississauga has the best attitude toward business development. Lower startup costs and high market access, makes it ideal for immigrant investors wanting break into the Canadian and US market.

towers
Developers rendering of The Absolute Condominium Towers on Hurontario Street in Mississauga near City Centre

If you’re a buyer with an eye on launching a business or moving here to the Toronto area to work, Mississauga may be the most intelligent choice. The city has enjoyed phenomenal growth of late, which is most noticeable in Mississauga’s urban core area near Hurontario St. and Burnhamthorpe Rd which is located in the more south eastern area of Mississauga.  The beautiful scenery of Lake Ontario and the night life of Toronto are very close by.

It’s difficult to have a successful economy and community unless your real estate sector is thriving and enabling the development of homes and businesses. Mississauga grows because of the pro-business sentiment here. If home and condos prices are lower in Mississauga, it’s because there’s more land to use.

Communities such as Oakville, Milton, and most districts in Toronto have less usable land and that drives up prices. Home prices are still very reasonable in this city. If you’re a first time buyer who doesn’t mind a little commute to work, Mississauga gives you a chance to own a home or condo for hundreds of thousands of dollars less than other communities in the GTA.

There is a shortage of homes for sale in Mississauga. To buy one, you’ll need a creative Realtor who knows how to get homeowners to look ahead and let go of their house.  Today, you need a good Realtor to find a home. Contact me and I can connect you with someone who is competent and whom you can trust.

housing-starts-peel-region
Screen Capture courtesy of PeelRegion.ca

Housing Starts in Mississauga

Mississauga can make your dreams of home ownership in Canada come true. The employment stats and modern lifestyle, great schools, and good transportation options offer everything you need to launch and grow your family. Living here gives you a better chance at quaifiying for a home mortgage and having a financially sustainable lifestyle. Compare this to other communities with high home prices and higher unemployment, and you’ll note how Mississauga is a less risky option.

housing-starts-peel-region2Mississauga is the largest city in the region of Peel. Other municipalities in Peel, including Brampton and Caledon have plenty of room to grow, and this may be why prices are lower here.  Single new home construction starts in Peel are up, yet multifamily dwellings appear to be declining. Could be small home builders are persisting in making a profit ahead of large project developers. All part of a health local economy.

However, this graphic below shows that construction starts of new single detached homes in Mississauga have plummeted from 2015. This will put upward pressure on prices of homes for sale on the resale market (Mississauga mls). Peel Region reports that these 478 home construction starts is the lowest in many years.




Will Population and Employment growth In Peel Region support Real Estate Prices

peel-region-population-growth Screen Capture courtesy of Peelregion.ca

This graphic from Mississauga.ca/data has one signifiant stat: that 93% of employed people here are in full time jobs.

Screen Capture courtesy of City of Mississauga's 2016 EMPLOYMENT PROFILE Screen Capture courtesy of City of Mississauga’s 2016 EMPLOYMENT PROFILE

Apartment Construction Expected to Grow 

This stat from the City of Mississauga’s (Mississauga Growth Forecast Housing 2008 – 2031 report), suggests they expect a huge growth in multi-unit apartment buildings to begin in 2016. The current forecast shows less growth in apartment construction. However, with housing availability at a premium, perhaps condo and apartment units will grow in number to support the population.

city-mississauga-housing-forecast

peel-region-employment-growth Screen Capture courtesy of Peelregion.ca city-mississauga-housing-forecast-byneighbourhood Housing Unit Growth Chart courtesy of Ciy of Mississauga – Forecast from 2008 report

mississaugahousinggrowthforecastbyneighbourhood
Chart courtesy of City of Mississauga Growth Forecast Report 2008

Looking for Vacant Land in Mississauga

There’s lots of land vacant in Mississauga, however you may find much of it is not zoned for housing, or zoned for intensive housing developments. You can find out more at their Vacant Land Profile.

Screen capture courtesy of the City of Mississauga Screen capture courtesy of the City of Mississauga

Mississauga and Market Update for November 2016

There were 976 homes of all type sold in November in Mississauga (down almost 200 units) for a total dollar volume of $634,683,402 at average price of $658,925. Last November, there were slightly less homes of all types sold (921) for a total transaction value of $518,573,645 and the average price was $547,770. Year to year price increase over all on average was $103,000.

mississauga-salesnov0216

The TREB home price index tells us Mississauga still has the best opportunities for buyers and investors with a composite year over year price growth of 20.3%. If the GTA economy rolls along, will Mississauga become the new price growth leader?




With Millennial aged buyers coming into their family formation and house buying years, we can predict this group will put upward pressure on home prices in Mississauga. Homes are currently selling for 2% above asking price on average, compared to 1% less than asking price in October of 2015.

Mississauga Home Prices Chart

Below you can see how the average prices of detached homes, semi-detached and condos have risen, along with my forecast prices in bold. According to Treb’s Mississauga home price update, the latest price of detached homes in Mississauga for November 2016 is up $54,000 from last month. My own forecasted future prices in bold are based on the growth in price from 2015 to 2016.

Detached Homes Sold in Mississauga
Mississauga 2017f Mississauga 2016 Mississauga 2015
December $1,215,186 $1,039,769 $868,380
November $1,213,892 $1,065,387 $902,942
October $1,216,388 $1,009,971 $838,582
September $1,258,510 $1,001,903 $802,764
August $1,237,037 $976,233 $792,015
July $1,224,099 $984,522 $808,646
June $1,194,263 $985,210 $829,959
May $1,158,020 $973,179 $844,679
April $1,167,678 $966,467 $830,884
March $1,136,321 $939,086 $827,720
February $1,110,843 $889,524 $798,926
January $1,111,825 $852,888 $761,900
Condos Sold in Mississauga
Mississauga 2017f Mississauga 2016 Mississauga 2015
December $550,094 $466,876 $408,848
November $574,826 $497,259 $425,802
October $575,479 $483,830 $406,777
September $606,989 $485,240 $387,012
August $565,024 $463,546 $394,454
July $541,985 $470,846 $419,084
June $533,831 $458,657 $413,571
May $541,431 $446,376 $395,358
April $517,881 $433,858 $402,285
March $546,107 $429,995 $375,597
February $544,346 $424,538 $371,572
January $533,076 $406,787 $362,859
Semi Detached Homes Sold in Mississauga
Mississauga 2017f Mississauga 2016 Mississauga 2015
December $752,365 $644,713 $552,464
November $752,927 $666,809 $533,040
October $752,220 $649,991 $557,742
September $768,443 $649,347 $545,420
August $748,526 $628,976 $539,870
July $754,994 $624,899 $531,161
June $729,609 $613,770 $539,190
May $727,855 $611,731 $538,537
April $743,419 $610,651 $525,680
March $722,889 $586,021 $517,046
February $685,647 $563,037 $524,877
January $703,068 $549,753 $496,998

The 2nd quarter of the year (April, May, June) is commonly the most brisk time for buying and selling homes in Mississauga. These stats below reveal and almost 15% increase year over year. The southern most communities on the Northern shore of Lake Ontario had very high price increases year over year.

 Community Sales Volume 2nd Quarter 2016 Avg Price Sales Volume 2nd Quarter 2015 Avg Price Year to Year Increase %
Mississauga Total 3880 $648,902 3670 $564,898.00 14.87%
Lisgar 191 $684,256 164 $570,554.00 19.93%
Churchill Meadows 311 $696,378 308 $601,684.00 15.74%
Western Business Park 0
Meadowvale 258 $529,524 220 $445,083.00 18.97%
Meadowvale Business Park 0
Streetsville 81 $716,694 56 $544,594.00 31.60%
Central Erin Mills 158 $780,193 193 $654,322.00 19.24%
Erin Mills 245 $683,655 223 $623,228.00 9.70%
Sheridan Park 0 1
Sheridan 71 $943,030 66 $939,655.00 0.36%
Southdown 0
Clarkson 139 $798,627 171 $633,160.00 26.13%
Lorne Park 111 $1,444,628 90 $1,236,229.00 16.86%
Meadowvale Village 165 $755,922 154 $652,162.00 15.91%
East Credit 268 $767,183 245 $664,031.00 15.53%
Creditview 38 $656,815 46 $569,183.00 15.40%
Mavis-Erindale 3 $1,005,833 0
Erindale 128 $635,394 100 $585,369.00 8.55%
Gateway 0
Hurontario 308 $539,771 298 $472,899.00 14.14%
City Centre 449 $323,932 398 $297,012.00 9.06%
Fairview 30 $517,496 40 $592,248.00 -12.62%
Mississauga Valleys 137 $415,141 122 $373,867.00 11.04%
Cooksville 171 $486,128 158 $454,092.00 7.05%
Mineola 66 $1,321,843 53 $1,210,223.00 9.22%
Port Credit 47 $900,310 55 $705,185.00 27.67%
Malton 144 $485,141 151 $424,426.00 14.31%
Northeast 1 2
Airport Corporate 0
Rathwood 94 $661,293 88 $559,067.00 18.29%
Applewood 148 $579,812 132 $494,232.00 17.32%
Dixie 0 5 $495,580.00
Lakeview 118 $782,080 131 $654,881.00 19.42%




This report on the Mississauga Real Estate outlook is updated monthly. Please Bookmark this page and return.

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Toronto Real Estate Market Forecast – The Pros and Cons of Homebuying in 2017

When Is the Best Time to Buy a Home?

A Laser Clear View of Toronto Housing — 2017 to 2018

Spring 2017 is almost here in Toronto, and tens of thousands of homebuyers will make the decision to buy a home. Yet buyers are confused, not because it may be a housing bubble, but because they can’t picture the value clearly, perhaps in numbers.   

The question of whether to buy a home isn’t about seasons, and housing type, or even the neighbourhood. There’s more important factors to considers and you should weigh your pros and cons carefully.

But for some Toronto residents, do they even have a choice? We all have to live somewhere, and it doesn’t seem there’s enough homes to go around.

While Canada is suffering its worst ever performance in attracting foreign investment, foreign purchase of homes here has been high. Foreigners are desperate to park their money somewhere. With that, Vancouver, Kelowna, Toronto, Mississauga and even Montreal have seen their housing markets explode in price. Many of these properties sit idle and empty, waiting for a quick flip.




Yet our hyperactive housing market hides a big secret — our economy is not so hot.  If not for the US revival occuring now, you’d have to say Canada’s future is very bleak — hence the lack of investment. Foreign investors are giving Canada a big thumbs down.




Vancouver Danger Signals

When BC applied its foreign buyers tax, it effectively killed the housing market in Vancouver. And with Toronto booming and its prices continuing a rocketing pace, will the Ontario government take similar action? While TREB might describe the market as balanced, it is a precarious, bubble like one where an irreversible slide might grow to a crash. Is this really a good time to invest in Toronto homes? Let’s look further.

Screen Capture courtesy of Teranet and the National Bank of Canada

The Key Role of Foreign Buyers in Toronto Real Estate

Foreign money may well be the key to Toronto Real Estate Market in recent years. Canadian investment in US property has fallen dramatically because of the sagging loonie, and perhaps due to new border restrictions expected by the Trump government. Canadians will now only be able to afford to buy in Canada. And many are selling their US properties to cash out their windfall. With that, they’ll likely be competing for GTA homes.

With the loonie so cheap against the US dollar, properties in Toronto, Mississauga, Oakville, and York Region look very inviting to Middle Eastern, Chinese and US buyers. Political and economic turmoil may well see foreign investors tune into Canada as a safe alternative to the US. Toronto real estate will be their first choice.

The Toronto Real Estate Board just reported another record month of sales on the Toronto MLS for January, and there is no sense or data to suggest condo and home prices won’t keep climbing.

8 Fundamentals of Rising Home Prices to Look for:

1. limited housing availability and people have to live somewhere
2. continued staunch refusal of homeowners to sell their properties
3. low mortgage rates rising only slightly
4. influx of foreign investment money from the Middle East, Russia, Germany and China
5. strong US economy set to spill over into Canada
6. high numbers of Millennials looking to buy their first home
7. condo rental prices are high with low availability meaning a sizble pool of potential buyers exists
8. immigation volume into Toronto is high thus soaking up rentals and creating more buyers from across the globe

The above fundamentals speak well of home prices in Toronto. As long as a US economic disaster doesn’t occur, the Toronto market looks okay. The question then becomes one of do you really want to buy vs rent? Can you afford repairs, taxes, and to commute to this location? Should you buy now so you can lock in at lower mortgage rates?

Worries on the Horizon

However, there is the negative side of the coin. Canadian debt loads are very high, bordering on crisis levels, and should interest rates rise, these same people may face foreclosure. If mortgage rates rise, few buyers will be able to buy at today’s prices. If prices are too high with a threat of a housing crash, fewer people will willingly take that big risk.

Screen Capture courtesy of Politiscope

The biggest factor for a housing crash or continued growth comes from the US. The repatriation of jobs and business investment back into the United States is the biggest news story of the last 3 decades but there’s worries Canada might be shut out.




Note: Vancouver’s Market has Stopped Rising but Hasn’t Crashed

If the US can carve away at its monstrous trade imbalances and bring back the American middle class, the effects on American wealth will be dramatic. We’ve all seen what this wealth has created in Dubai, China, and Mexico. When all that wealth returns to the US, it will spill over into the Toronto Real Estate market.

The Canadian economy, particularly Toronto’s is intimately tied to with the US, both parties would be devastated by a break in trade. But Donald Trump may have little intention of alienating Canada, even with Justin Trudeau at its helm. The biggest threat we face is Donald Trump’s dislike of Justin Trudeau.

Trudeau’s lack of sympathy and joy for the great American revival will gnaw at Trump’s government.  Canada may receive a weaker bilateral trade agreement, which Trudeau will have to negotiate. It could be much worse than the softwood trade has been.

The second biggest factor will be the lack of housing availability. Ontario’s governmental regulations on land development near Toronto is crippling growth. Its plan to intensify development in certain cities such as Markham, North York, and Mississauga will supercharge prices in those areas. Ontario’s high flying tax increases will further put upward pressure on house prices and make home ownership more costly.




Statscan reported job growth only in Ontario, with 20,000 new jobs. This followed on the heels of last month’s 74,000 new part time jobs. People working part time or with low wages can’t buy homes. The future lies with a growth in Canadian exports (the low loonie didn’t make that happen, likely because other countries are manipulating their currency downward for persistent advantage).

With demand continuing right through the winter, it’s hard to believe it won’t be a record spring for the Toronto market. The anticipation of the great American Revival will play increasingly on the psyche of hopeful buyers and those who would like higher paying jobs. It’s this anticipation that will have the greatest effect on where anyone will willingly purchase an average $600k to $1.5 million dollar condo or home.

It takes courage to buy a home, and courage should be built on a systematic pros and cons assessment of real estate investment.  I hope your analysis gives you the right outcome. If you’re looking to buy in the Toronto area, please visit my Toronto homes for sale page.

Further reading:

Forecasts of political intervention by Canada’s biggest banks: http://business.financialpost.com/news/property-post/canadas-biggest-bank-warns-of-possible-cooling-measures-coming-to-toronto-housing-market

Best time to buy a home: https://www.newhomesource.com/resourcecenter/articles/smart-time-to-buy-a-new-home

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Buying Property for Rental Income – No Better Investment for 2018

Is Rental Income Property the Best Investment in 2018?

Is there any investment opportunity that could beat income generating real estate in 2018 or for the next 5 years? Is the stock market correction making you look for other options?

Check out the best cities to invest in real estate and read this post below on rental income.

With your initial financing concerns aside, rental properties can offer a high, continuous extra income to help pay off your mortgage, meet repairs, and add confidence to your investment decision. If the work concerns you, consider using rental property management software to help out.

Cynics might point to cash flow issues, paperwork overload, and big unseen repairs as key reasons to be way of rental properties. You’ve seen those issues on TV shows, yet the buyers always seem to handle them an make a big profit. If your plan is to retire happy in Costa Rica  or Mexico, this is probably the best way to make that happen.



Watch this excellent Video from Phil Pustejovsky about how to succeed: Take responsibility, think opportunity and take massive action:

If you’re concerned with a potential housing crash in 2017, the market stats don’t support that notion and  it looks good to 2024. Review the Los Angeles Housing market forecast, San Francisco market forecast, and the New York market forecast for predictions and commentary. Contrast that with the Calgary Housing Forecast  which has bottomed out.

Another promising area to investigate is foreign student housing in Vancouver and other high demand cities. Vancouver BC is very attractive to students from China, Hong Kong, Indonesia, Singapore, Dubai, Germany and other counties where wealthy families want to have their kids educated.

They find Vancouver safer and more relevant. CIBT is one company to watch with their huge portfolio of properties in Greater Vancouver, Canada.




Factors that Support Investing in Income Rentals

There’s a housing market crisis across North America and demand for rental apartments, condos and houses will stay high. It’s unlikely that a quick solution will happen to generate housing for everyone. This land development held up by legislation, it’s a sure bet that rental property is going to be a hot investment sector.

Here’s 11 Reasons You Should Take Rental Income Investing Seriously:

  1. growing number of Millennials entering their family starting and home buying years
  2. mortgage rates not forecast to rise much
  3. rental prices can stay high because employment is good and renters have no options
  4. stories of renters destroying the place almost never happen (renter screening process)
  5. you can deduct mortgage interest and real estate taxes on rental properties
  6. you can write off utilities, insurance, repairs and maintenance, yard care, association fees
  7. write off upgrades such as decks, pools, tankless water heaters, and even landscaping
  8. write off depreciation of assets/home
  9. write off solar power generation unit
  10. the income won’t become taxable until you run out of upgrades/repair costs
  11. the renters will have to cover any cost of living or mortgage rate growth

That’s quite a compelling list of reasons why buying a rental property makes incredible sense. And if you live in the unit, then you’ve got your cake and you’re eating it too. So far from being a risky investment, rental income properties have built-n safety and tax features that make them a no brainer. All you have to do is find financing.




Here’s how to calculate the numbers on a rental income property such as cash flow, capital expenditures and all the rest.

What is a typical Return on Residential Rental Property?

I revealed in my previous post on rental property investment a return of 30 to 40%. On a common million dollar home in San Diego, Los Angeles, San Francisco, New YorkVancouver or Toronto, that’s 300-400 thousand dollars. I’ve seen homes in my neighborhood rent out fast at $5000 to $7000 a month.

Rental Income Property Calculator

Try the calculators from Rental Property Reporter or from Financialmentor.com.

Top Tips for Buying the Right Rental Property for You

  • decide which city has the best potential for rent prices and purchase price
  • decide what kind of property will work for you
  • decide whether you’ll be living in the property
  • determine how much capital you have to work with and how much you can sink into improvements
  • don’t buy a fixer upper
  • buy a home with the best likelihood of being rented:
  • buy a home in  a lower price range to begin with (first time investor)
  • consider a property management firm that can handle maintenance and renter screening




Here’s some further resources to get you on your way to finding the perfect property:

http://www.investopedia.com/articles/mortgages-real-estate/08/buy-rental-property.asp

https://www.investopedia.com/articles/investing/090815/buying-your-first-investment-property-top-10-tips.asp

https://www.myhousedeals.com/cities/losangeles/

http://www.bankrate.com/finance/retirement/funding-retirement-with-rental-income-1.aspx

http://mesaproperties.net/best-places-to-buy-rental-property-in-california/

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Mississauga Condos for Sale | Resale and New Construction

Mississauga’s Rising Skyline Lined with Condo Towers

You’re likely aware of how the skyline of Mississauga has changed over the last 6 years.  And it was the construction of the Absolute Condominium buildings that seemed to launch the visibility of the City of Mississauga to a new prominence. The city with no identity was gaining new fame around the world because of the “Marilyn Munroe” towers.

Screen Capture Courtesy of Skatecanada.ca

Mississauga has grown into one of Canada’s largest cities and offers much more to its residents and businesses in 2017. You may have heard about this city just west of Toronto and likely couldn’t pronounce its name. My American friend calls it “Mississaugwa” which I’m sure Hazel McCallion would have a good chuckle over.

Yes, the former Mississauga mayor worked hard to put this city on the map, and ensure Mississauga had no civic debt. It’s proximity to Toronto and major transporation routes also makes this place very attractive for International businesses and investors. And it’s great for residents too.




Search for Condos for Sale in Mississauga Right Now.




Home and Condo Prices have Risen

But let’s not forget that Mississauga is within the Greater Toronto area and home and condo prices here have shot up high.  While many have positive predictions about the Toronto Real Estate Market, there are others who feel we may be on the verge of a housing collapse in Toronto. You can read the Mississauga real estate report and the Toronto real estate report and figure that out yourself. Don’t expect much help from the experts or local agents, as they probably have their own bias. And you can read that on their blogs and news stories.

Mississauga has hundreds of medium to large sized condo buildings, many perfect for rental property investement.  With limited land to build, and high demand from immigration and Millennial buyers, prices are expected to rise. If mortgage rates rise, the rental property market will explode. It’s a good time to take a look at Mississauga’s homes and condos. Any and all can be an excellent investment.

If you’re from China, Dubai, Hong Kong, or Germany, take a look at Toronto condos as well. Your investment can go a long way in Toronto. Is this the right year to buy rental income property?  Get insight into the best investments in 2017 including investing in real estate.

Enjoy this view of downtown Mississauga via Aerial Drone.

The Forecast: Even More Condos are Coming to Mississauga

You can read all about the M City complex being planned on the Toronto Star Site. Mississauga is zoned for this intensive condo development and we’ll see more of it.

a $1.5-billion, 15-acre, 4.3-million-square-foot project at the southwest corner of Burnhamthorpe Rd. and Confederation Pkwy. Photo courtesy of the Toronto Star

Absolute Condos




The Absolute Condos are group of 5 buildings located on Hurontario Street just north of Burnhamthorpe Rd. These condominiuns are also right across the street from Square One Shopping Centre which is Mississauga’s largest shopping mall. It’s a great location in a densely populated, condo intense area where commerce is intensified.  Condo buildings are still being built in this area including a new development.

The two curving buildings are the most recent ones standing at 50 stories and 56 stories for each. They are quite site looking up from the base. Most of the units have large balconies.

Humber Bay Condo Waterfront Development

At Humber Bay in Mimico, is an exceptional beautiful collection of waterfront condos (on the south end of Mississauga and Etobicoke).

Pic courtesy of Cynthia Ostos & Youtube – ilovemimico.com




New Construction Condos in Mississauga

There are plenty of exciting new developments being planned or currently being built, should you be intersted in buying a Mississauga condo.

EV Royale, a captivating new development in Erindale is scheduled for completion in 2019.

Screen Capture Courtesy of EVRoyale.com

Another Cool New Construction condominium complex planned is also in Erindale. It’s called the ARC and offers plenty of suites with fantastic views starting around $200,000 CAD.

It’s not all highrise condos in Mississauga. There are some beautiful waterfront condominiums in Port Credit and Clarkson Village that would make superb investments.

Craftsman Condominiums in Clarkson

This new new lo-rise village is almost sold out and set for completion in 2018.  It featurs a rooftop terrace, fitness centre and inviting social room. It’s the location in Clarkson that makes this a top notch rental income investment.




Looking to invest in homes or rental income condos in Mississauga? Visit Damir Strk of REMAX Realty Specialists for an introduction to the many opportunities here.

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Toronto Housing Market Report November 2016

Toronto Home Prices Soar Again

The Toronto Real Estate Board has released their November 2016 MLS sales report which includes home prices in the Greater Toronto market. Sales are up 16.5% from last November, and home prices rose by 22.7% YoY. It’s a scary time for investors, and perhaps a tougher time for millennial aged couples trying to buy their first home.

This may be the right time to sell your home. Who will market your home?  From SEO, to Content marketing and paid advertising, and aerial drone video, digital marketing can start bidding wars.

Buyers, are you still thinking the stock market is better than real estate? See this post for more perspective on the Toronto Real Estate market and 2017 forecast.




Is 2017 the best year to buy rental income property?  Find out more about the best real estate investments in 2017 including investments in real estate.

The TREB November market update shows Home prices in Mississauga were also up 20.8% overall. While most eyes are glued to the price of detached homes in Toronto, the sales of apartment condos continue an even more torrid pace, up 27.9% in sales volume, perhaps revealing a continuing strong condo apartment rental investment market similar to the one burning up San Franscisco and the Bay Area of California. Not surprisingly, Richmond Hill, Newmarket, and Aurora leads the GTA price rise parade. These 3 top performers had detached home price rises near or above 30% YoY. Richmond Hill home prices hit an astonishing $1.3 Million. Brampton lead the way with a 25% price growth for townhouses.




trebchartnovemberpriceindex

Mississauga Real Estate Brokers

Ready to Sell? My client Damir Strk is a licensed Realtor and Mortgage Broker with extensive experience across the GTA including downtown Toronto condos. He specializes in Mississauga, and can also represent you very well whether you’re in York Region, Toronto, and Oakville and Milton. He’s a great choice for the biggest financial decision of your life. Damir has 16 years experience in all housing types, including Mississauga’s many condo developments, very familiar with properties in Mississauga’s many communities, and can help advise you on mortgage financing. Contact Damir now at: (905) 828-3434.

damir

Real Estate Investors

Investors from Germany, China and Persia may find the market perfect for rental income investment. Buyers within Canada are finding the market too far out of reach. The extreme prices could make it more likely local and the provincial government may attempt to intervene without addressing the issues of lack of available land. The places to grow legislation and the OMB will be put under more intense scrutiny.

“Home buying activity remained strong across all market segments in November. However, many would-be home buyers continued to be frustrated by the lack of listings, as annual sales growth once again outstripped growth in new listings. Seller’s market conditions translated into robust rates of price growth,” said Mr. Cerqua Toronto Real Estate Board President.




See more on Mississauga homes prices and on the Toronto real estate market predictions.

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Luxury Real Estate in Costa Rica | Luxury Homes in Paradise

Where to Buy Costa Rica Real Estate

Where is the best place to invest in real estate for long term gain or for retirement?  There’s plenty of cities in the US to retire comfortably with growth potential, but you’d have to wonder if there is any better potential than Costa Rica Real Estate.  

This paradise is on everybody’s travel bucket list. More than 2 million travelers vacation in Costa Rica each year and many would like to retire there.

If I’m first to introduce you to this exciting real estate investment opportunity called Costa Rica, then that’s wonderful. If you can afford a property here, you’ll enjoy and likely make a good return on your investment.  Prices here have matured, but there are still opportunities in land, condo developments and single properties. You only need a good adviser.




And while Costa Rica seems perfectly suited to everyone, it is perhaps the wealthy who are most likely to live here. As you can see in these photos of luxury homes in Costa Rica below, the wealthy have arrived. Luxury homes and condos continue to be built and they represent quite an investment opportunity for those capable of taking the plunge.

Investing in any foreign country carries risk, but the risk is perhaps least in Costa Rica.  The country is politically stable, immigration and investment positive, and taxes are low. It’s a compelling place to invest.

Finding market data and reliable source of information on the investment climate in Costa Rica is the challenge. There are real estate brokers and investment firms that can advise you on buying property here.  One of the most well known is Viva Tropic. Viva Tropic produces a report that you’ll find helpful.  This graphic from the report gives a breakdown of prices by property type to give you an idea. As you peruse the listings, you’ll get a better picture of what’s available and where. They have quite a collection on their website.





What Do Luxury Homes in Costa Rica Look Like?

As you can see below, they’re beautiful structures and living spaces in a style and architecture befitting this magnificent paradise. And the variety including houses in countryside, seaside mansions or fine urban condos, many with unparalleled views means you can find a place you like. I’m sure your vision of this former third world country will be shattered.

  




Is 2017 the best year to buy rental income property in the last 10 years?  The best investments in 2017 are likely in rental income properties.  Have you compared investing in the stock market vs real estate.

Okay, so there is your taste of incredible luxury homes in Costa Rica. Here is a variety of realtors and advisors websites to peruse and learn more.




Viva Tropical: vivatropical.com download their 194 page guide http://cdn.vivatropical.com/costa-report.pdf

Newspaper article from 3 years ago for perspective: http://www.theglobeandmail.com/real-estate/mortgages-and-rates/looking-to-buy-a-tropical-paradise-here-are-5-property-markets-primed-for-growth/article14989189/?page=all

Costa Rica Investment: https://www.propertiesincostarica.com/invest.html

The Costa Rican News: http://thecostaricanews.com/2015-costa-rica-real-estate-forecast-where-you-should-invest-in-the-land-of-pura-vida/

2CostaRica’s home listings: http://www.2costaricarealestate.com/All_Listings/page_1363157.html

International Living’s page on Cost Rica: https://internationalliving.com/real-estate/costa-rica/

How to become a resident of Costa Rica: http://www.therealcostarica.com/residency_costa_rica/costa_rica_residency.html

Moving to Costa Rica: http://www.transitionsabroad.com/listings/living/livingabroadin/living_abroad_in_costa_rica_moving.shtml

7 Best Places to Live in Costa Rica: http://www.expatexchange.com/ctryguide/4362/33/Costa-Rica/Expat-Costa-Rica-Best-Places-to-Live-in-Costa-Rica

Palms Realty Brokers in Costa Rica: https://palmsrealtycr.com/buy-costa-rica-real-estate/

Prestige MLS Costa Rica, amazing listings: http://www.prestige-mls.com/

Property Tax Rates in Costa Rica: http://www.globalpropertyguide.com/Latin-America/Costa-Rica/Taxes-and-Costs

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