The Future of Real Estate | AI Blockchain Software Cryptocurrency Bitcoin and the Housing Market 2018

The Future of Real Estate

While housing markets in US cities waffle back and forth between market crash and price peaks, homebuyers, property investors and Realtors are wondering what real estate will look like in 5 to 10 years time.

Courtesy of Pinterest — kevin-miller-0125.blogspot.com

In this post, we look at the future of real estate technology (Fintech and Proptech). If you’re a homebuyer considering buying a house, these changes affect how fast you can buy and sell, and how your gain could be thousands of dollars.

When is All This Happening?

Changes are here now. Realtors and Brokerages will have to alter their roles and value proposition to add new value rather than being transaction facilitators, and find new opportunities that are appearing. New tech brokers have already arrived but they don’t have it all figured out yet.

When usage hits whats called critical mass, that’s when real estate businesses will adopt it completely as the new standard. It’s about more than blockchain in real estate alone.

Of course there’s resistance to new tech such as blockchain and bitcoin in real estate. Blockchain is tranformative. Yet when someone like rexmls lost $1.3 million mistakenly sending cryptocurrency to the wrong address, we know there is risk all round.




Realtors, investors, lawyers, mortgage agents, title/escrow people, and homebuyers are about to see the real estate exchange and financing business streamlined.

For instance, it’s estimated that 50% of major corporations will switch to blockchain business technology this year. Blockchain by itself is rocking every industry including real estate.

I’ll introduce blockchain and bitcoin below in more detail. In a nutshell, blockchain is the software platform that’s underneath Bitcoin and other cryptocurrencies. While Bitcoin is well known, it’s actually blockchain that has the best potential for all industries.  For some of us, this change is exciting. Change means opportunity.

I know you’re curious about Bitcoin cryptocurrrencies and blockchain, but understanding them technically is really tough. You don’t need to be an expert, but you may want to know what is driving this coming change.




2018 Housing Market Reports

Check out the Sacramento Housing Market, San Francisco housing market, Los Angeles Housing Market and Florida housing market forecasts.

The Blockchain Opportunity

Instead of being threatened by the progress to digital real estate via blockchain and other technology, Realtors, lawyers, investors, builders, property managers and mortgage agents should welcome the opportunity of this new era.

Here’s a small list of blockchain startups that have jumped at it.

And the key opportunity might be in first mover advantage. Realtors might redesign their brokerage to utilize RETS IDX listings, AI driven marketing, and blockchain-based transactions.  It’s early, but the right time to learn.




What’s coming is an era of weakening monopolies, greater efficiencies and perhaps lower home prices.

You can imagine how the establishment would like to maintain the old paper-based, complicated transaction process that allows the banks and big real estate brokerages to guarantee their cut of this $116 Trillion dollar global real estate market.



New tech entrepreneurs relish usurping the dominant role in an entire, lucrative industry. They’re motivated. The high rising price of bitcoin should tell you that something big is brewing. They’re already at it in real estate.

Real estate sales using Bitcoin or Ethereum are adding legitimacy to the use of cryptocurrencies in the real world” — Manuel Perez of the Coral Gables, Fla.-based Elizabeth Perez Team. Screen Capture courtesy of Housing Wire

What’s Driving the Push to Blockchain and AI?

The real cause of this future is the high cost of real estate, monopolies, and the over-complicated/regulated process that real estate professionals must follow to buy and sell homes. It raises prices and slows transactions. And younger consumers don’t like the ring of “million dollar homes.”  They like this new technology because they think it will save them money.

From smart contracts to Bitcoin currency to fractional ownership, and artificial intelligence driven buying and selling, the entire real estate industry is about to be streamlined. From finance to construction, blockchain technology in particular is about overwrite the sector. Real Estate will be hard to recognize.

But can the big companies control blockchain to keep the market to themselves? That’s very unlikely since blockchain opens everything up to innovation, transparency, ease of purchase, and lower costs. Buyers will find that very hard to ignore, as will real estate professionals. The smart Realtors will be on this now, to give themselves an advantage in branding and expertise.

Realtors may not have to be blockchain experts, they can use the myriad of blockchain applications and services that will be available. It could be a period of entrepreneurship and creativity for Realtors, and for home buyers and sellers as well.



Who Guards the Status Quo?

Brokers, marketing, banking, retail agents and others facing sudden disruption may enjoy their monopoly and legal power to keep the old system intact.

This new wave of well funded cryptocurrency, blockchain and Realtech startups change the game and playing field. The new blockchain based system is a completely new approach to transferring ownership of property from one party to another. With Cryptocurrency, the banks, mls associations, forex companies, and others could be completely bypassed.

Even the mortgage industry is seeing new startups that offer reduced costs, fees and fraud, and improved efficiency, speed, and transparency.

 

Sharing is Good for your Social Life — Make Sure others get an introduction to the new technology on FB or Linkedin

Change from Many Directions and It’s Just Starting

The future of real estate will see disruption from many sources, technological, cultural, financial, and political.

The $36 Trillion US real estate industry is pressured by issues of complexity, affordability, frustrated demand, housing development restriction, rising interest rates, competition, big data, blockchain, and more. They’ll all play a role in a complicated forecast amidst an uncertain economic outlook beyond 2020.

Will you be buying your next home via an app using Bitcoin? Should you even buy a home, or rent? It’s not only about techno changes in 2018. The future of real estate involves lifestyle, economic, and investment factors.




Will Realtors and Financier’s Roles Change?

While removing the middleman might be the uber utopia for tech-obsessed 20-Somethings hoping for a price break on a million dollar house, it will not be easy to push big banks, MLS’s, state govnernments, and real estate companies out of the future of real estate. Politics, law, habit, and need for expertise will ensure Realtors don’t fade away too quick.

Propy is a new blockchain based online brokerage serving the world

Realtors, MLS associations, and big brokers control the mls data and in this day age data monopoly is how you eliminate competition or gain monopolies.

A number of tech driven competitors are disrupting and trying to weaken the current megalopoly in real estate markets. Thus far they haven’t been able to land a decisive blow. Big Data may be the weapon to topple the traditional system unless the big brokerages learn to utilize it somehow.

Technology driven companies such as Zoocasa, Zillow, and Compass are growing fast and making inroads on various MLS and Realtor competitors. The fact that the majority of Realtors have few listings or sales and aren’t well supported by the big brand brokerages means these tech companies have opportunity with their own hungry masses of agents. The fact the big brokerages don’t share information with agents now, tells you that Realtors would jump ship quick.

And for consumers, a reduction of commissions and expansion of marketing capabilities means consumers might gain from new tech entrants. And in terms of streamlining, it’s estimated that closings could be reduced to 10% of their current duration.

Yet the MLS associations and brokers hold a lot of data and can keep it out of the hands of real estate startups. Legal battles are raging, but the MLS’s aren’t winning the wars.

Propify, an Australian startup, hopes to leverage the technology into a one-stop shop for home buyers. Drawing from various listing sites, governmental databases and social media, the software company aggregates all available information about available properties into a single space, sourced from a blockchain – from Real Estate Weekly.

Who Owns Big Data?

Big Data is owned by big tech, finance and retail companies right now and the battle over who gets access is being waged. The data is so important, it stands to reason that a few companies would not be permitted by government to own it or leverage it for massive monopolistic wealth. However, that conceivably could happen in the Amazon era.

If everything from finance, real estate to AI driven robots, having it locked and controlled by any money hungry company could bring the system and economy to halt. Big data and open source access will have to be made a basic freedom.

For that reason, how could the NAR or MLS or anyone hope to monopolize their data and market access? It’s a losing battle.





The Coming Blockchain Revolution in Real Estate

According to Forbes, real estate venture investors deployed over $5 billion in real estate technology in 2017. That’s 150 times the $33 million invested in 2010. Blockchain is just one part of that investment.

Blockchain technology is important to the commercial real estate market since it streamlines processes, reduces fraud and cuts costs

What is Blockchain?

A blockchain is a secure network of computers that creates as a living ledger for transactions. When the record is updated with new information — the signing of a contract, the movement of funds, the transfer of ownership — it is updated and time stamped in every computer simultaneously, whether there are two dozen or 2,000. The records are the blocks, the network is the chain — from Real Estate Weekly.

Blockchain technology and cryptocurrency  may influence how real estate is transacted in future and who will participate in buying and selling.

Coinify states that blockchain will speed up real estate transaction, decrease fraud, and increase transparency. For those who worry about international money laundering and organized crime, Blockchain could cut police and investigation costs. Blockchain offers a real digital paper trail.

Blockchain leverages mls type housing data and makes it usable on a larger scale. So the potential power of blockchain systems will threaten the data monopolies that exist in some states and mls districts.

Direct Transaction between Buyers and Sellers

The rewards of listing on a blockchain accessible system will be too much for homeowners and real estate agents to resist.  With blockchain technology property and transaction information is published to a public ledger giving all parties access to the home-buying or leasing process.  Owners, tenants, operators, and service providers will have access to this stream of incorruptible data. The buyer and seller deal with each other directly.

According the IBREA, “Blockchain offers an open source, universal protocol for property buying, conveyancing, recording, escrow, crowdfunding, and more. It can reduce costs, stamp out fraud, speed up transactions, increase financial privacy, internationalize markets, and make real estate a liquid asset.”

How To Buy Real Estate Using Bitcoin

Yes, a lot of people want to know.  I’d advise reading this post on HGTV to get started. Will you still need a real estate agent? Yes, and a real estate lawyer to review all the documents. And these people are insured just in case something does go wrong.

However, make sure you trust the second party if you’re thinking of buying into real estate. “If you want to reverse the transaction due to any litigation, then you need both parties to be compliant,” says Jake. “Bitcoin transactions are not reversible.”  — HGTV




Bitcoin and Real Estate

Cryptocurrencies such as Bitcoin are highly volatile right now, however once they stabilize, homeowners will not balk at selling in Bitcoin. The bitcoin cryptocurrency is set to rock the banking and retail industries, so why not real estate?

Need to know how to Buy a House or Condo using Bitcoin?

Real estate can be a lucrative business yet the drive for cost savings and high prices makes players investigate and try out different solutions. Real estate agents, landlords, mortgage agents, and others have been reluctant to adopt software solutions for fear they would lose competitiveness. The future of real estate is technology in almost every area.

However, that intense competition is yet another driver of the kind of change that could see agents and brokerages disappear. I hope that’s not you, but let’s say the flock is culled. What kind of new real estate sales environment is being created and how will you adapt? There’s opportunity in everything.

Younger Buyers Love Choice and Apps

Millennials are the biggest, most wealthy group of consumers now and they’re proving to be brand agnostic and want open source everything. Throw in millions of wealthy young Chinese immigrants/investors, and you can guess that tradition in real estate is about to be replaced by a new culture — the Uber culture mostly online. On Tech.co, Boris Dzingarov suggested 3 factors will change real estate marketing greatly:

  • Video
  • Mobile devices
  • Online reputation management





Yet, many agents are using video, have already set up mobile friendly sites, and even dressed up their Linkedin and Facebook pages. And they’re not anymore disruptive than anyone else. I think what may mark the new agent is using technology and digital marketing to connect with more prospects.  What may be difficult for them though is that homebuyers and sellers may not accept their pitches. If you can’t go to them, then you’ll have to show up online so they can reach you.

If you have no digital marketing strategy to connect with prospects, make an impact, and remain visible online (top realtors are taking it all for themselves) then perhaps the forecast is as stormy as Dzhingarov is predicting.

Why Agents Will Still Be Needed

Currently, 80% of home purchases are conducted using Realtors, and given the various services they handle, it’s hard to conceive they would be made completely redundant by blockchain or other technology.

Here’s where we can’t do without them:

  • better knowledge of local neighborhoods
  • assessment and advice on contracts
  • real human advice on quality of the property instead of property data collected
  • price negotiation with buyer or sellers
  • spares you the anxiety of buying and selling real estate online
  • help you get a higher price through staging, presentation and sales support
  • arranges inspection and home showings – saving you time

The Outlook for Real Estate Brokers

I’d like to take a moment to discuss what I see happening in this industry. Here’s the top 15 disruptions that may hit the real estate biz in the coming years:

  1. Real Estate Teams – teams loaded with extra services will battle it out with discount brokers to offer better service, particularly in the luxury real estate market where Luxury realtors will go the extra mile.
  2. MLS Data Freely Available to Everyone – no secrets for realtors to use as a trump card. Homeowners will feed home stats to online vendors who will provide increasing marketing power for them.
  3. Social Media Growth – Realtors will expand their circle of contacts via Linkedin and Facebook, and home sellers will look to engage more buyers to get higher bids for their client’s properties. Social media engagement will keep them connected and actively top of mind to prospects, as other realtors impinge on all their clientele.
  4. Content Marketing – more sophisticated and engaging visual content such as interactive infographics and pdfs, and interactive home tours will let buyers drill down quickly to everything they want to know about the home and neighborhood.
  5. Sophisticated Video – slick videos with aerial shots and stunning quality will become templated much like WordPress web sites are now
  6. SEO & SEM– optimizing for whoever is looking for real estate or wants to prepare for sale. This means having a good SEO is critical for inbound marketing, link building and MLS listing optimization. PPC advertising and remarketing ads will play a role too.
  7. Trustworthiness – the insecurity of Uberization will mean parties will be scrutinized for their reputation and professional credibility. Those realtors that have this all laid out strategically will pass the cred test.
  8. Thought Leader/Advisor – generosity of key realty knowledge will influence because real estate is an expensive investment that the average Joe homebuyer doesn’t understand. The realtor’s role will evolve to become a trusted advisor.
  9. Complete Property Transactions Done Online – from bids to closing costs, every aspect of the transaction will be done online, perhaps via a large tablet device connected to a printer. See Realtypoint’s excellent post on this. 
  10. Google, NAR and CREA will lose control of the online realty market – homeowners will list with online entities for exposure and pay minimal fees.
  11. Property Management – More brokers and agents will move into the property management and mortgage business to create more relevant clients, retain them, and build visibility.
  12. More Real Estate Agents Will Go Out of Business – deals will disappear, commissions will fall and competition will be intense and only those with huge client bases will make it.
  13. Clients will gravitate to Large, insuring Finance Comapnies – these firms are capable of insuring transactions, because regular consumers are likely to make big mistakes. Right now of course you and your brokerage and (CMHC in Canada) or (FHA/PMI) in US provides it.
  14. Niche, Boutique Brokerages – they’ll have an edge in relevance, usefulness, and attraction to many buyers and sellers – particularly brokers that offer a la carte services, and prove they have specific types of buyers for a property (e.g., Chinese or Middle Eastern buyers).
  15. Intense Hyperlocal Focus – realtors and teams will use outdoor advertising and social media to dominate local markets.

The Uberization of real estate has already happened. I’m wondering which new Zillows and Trulias rise up to serve this new market? No doubt it’s being discussed in boardrooms right now. [Note: I was invited recently for interviews for a senior digital marketing position with a big, new up and coming lead generation business in Toronto].

Where Will You Be in 5 Years?

The point of this post is to ask you where you’ll be in the coming years and whether you will have initiated the steps to build your future realty business. It’s wise to start planning and connect with the people who will help you grow and sustain it.

What are you thoughts? What changes do you foresee? Will 2018 to 2020 look much different for you and your brokerage? What are you doing to help you survive and thrive in the blockchain era? 

Speaking of hot markets, read the forecast, outlook, and predictions for housing in Toronto, Los Angeles, San Diego, and Vancouver.

 

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Federal Court Rules Against Toronto Real Estate Board – Toronto Mississauga York Region Durham Peel

Federal Courts Rule in Favour of Anti Trust Legislators

The Federal Court of Appeal has upheld an April, 2016 decision made by Canada’s Competition Tribunal. It has ordered the Toronto Real Estate Board to allow its members to share the sales histories of listed properties online.

This ruling relates as well to the incoming opportunities of Blockchain technology in real estate. What’s at stake is the all important client and property databases.

TREB has always contended that its first priority is to protect homebuyers data and privacy. It seems the courts didn’t buy that argument. This isn’t an isolated war in Canadian markets and courts. REBGV in Vancouver is fighting to hang onto its data too.

From the ruling: “The tribunal made no error in finding that TREB engaged in an anti-competitive practice and that this practice had and will likely continue to have the effect of preventing or lessening competition substantially in the (Greater Toronto Area).”





Whether this is good news or not so good news depends on who you are. It’s certainly good news for online real estate service businesses. They can improve their services with this open data source. TREB’s 45,000 realtor members may feel this is a threat to their own businesses who benefited from stifled competition.

It will create a further evolution in professional real estate sales. Agents and brokers will have to be smarter, more effective, and create a better presence online. The new market will move from Realtor intranets to the Internet and smartphones.

TREB is appealing the ruling and hoping to stay the order that allows immediate release of the home sales information. It’s a small win for some, but eyes are on the future, where more of the TREB data can be released and reported on.

Without accurate, up to date housing data, it is very difficult for service companies to do business in Toronto Real Estate. TREB has almost monopolistic power in an era that is demanding access to market data.




In a Toronto Star Report,  the governments’s commissioner of Competition, John Pecman says Friday’s ruling is an important win for competition and consumers.

It paves the way for much needed innovation in the real estate industry,” he said in a statement about the case has been going on for six years.” – from Torstar new report.

Realtors can now post home sales data on their websites for buyers and sellers to see.  The tribunal also said TREB must provide data such as sales figures, pending sales and broker commissions, which might be embarassing situation for some.



It’s All About the Housing Data

Although the argument seems to be about the release of the actual sales price history of homes, it may actually be more about control and the rest of the data in TREB’s gargantuan database.  Although TREB wants control of the data, which could mined for incredibly business value, it looks like they are losing the battle.

Perhaps TREB should go with the flow on this one and charge a fee for it? Even if the data is the property of TREB, the ruling shouldn’t prevent TREB from selling their data. If there are privacy issues regarding the data, then the Federal Government may be held liable for releasing it.  Homeowners themselves were likely lead to believe their property and personal information would be protected and private.

Sounds like a legal can of worms.

Some wonder if it’s a sad state of affairs if a Realtor’s only value proposition is as a gatekeeper to the data. That data has immense valuable to a lot of investors and home buyers. Previously, only Zillow had this type of housing sales data. The release of TREB mls data may be a nail in the coffin for Zillow.



It is likely new businesses and business models will evolve as a result of the ruling. Smaller businesses can jump on it right away to offer enhanced services online, but other large scale, Zillow, Zolo or Zoocasa enterprise level businesses will likely have to wait until the matter is fully settled in the Supreme court.

We’re in a data driven business world, and until now, the housing data was contained. Now with that dam bursting, it opens up many possibilities for entrepreneurial startups in the real estate sphere.

For real estate agents, the news is likely not a good one. Agents will now have to work much more effectively at building new real estate leads, holding onto old clients, and revamping the power of their own realtor brand image.

The release of this immense database will open up all sorts of entrepreneurial opportunities and range of services by real estate marketers of all types.  The Canadian markets are opening up open market models you see in the US.




Are you looking for the latest Toronto real estate market outlook, Mississauga real estate forecast, Vancouver real estate forecast, or the Calgary real estate predictions?  See also the Toronto condo market forecast and Vancouver condo market forecast.

 

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Toronto Condo Market Report – Update and Forecast 2017 2018

Toronto Condo Market Forecast 2018

While the Toronto housing market in 2018  is overshadowed by severe house supply shortages and ultra-high prices the condo market in Toronto and Mississauga is an attractive alternative for young buyers.

Sales of condos particularly in the under $500k market are rising and prices have risen as well. The latest Toronto condo market sales report from TREB has ben released. While TREB doesn’t publish stats on the condo market specifically much anymore, you can see the averages for each district below.

Toronto Central, Milton, Oakville, and Peel region continue to enjoy strong market demand while other areas have seen a decline in price since last fall.

The new mortgage rules now enforced means many buyers will only qualify for a much lower mortgage.




You likely have your own opinions about government meddling in the markets, however such interference can be a housing crash factor in itself.

Should you invest in a new or resale Toronto condominium? The Canadian economic Forecast and Toronto economy in particular look very good. That means condos new and old will be in demand next spring from fully employed buyers who have had time to save the big downpayments and meet more stringent lending stress tests.

As mentioned in the Toronto housing report for October, prices for Toronto condos are up 24.5% in the city of Toronto year over year.  Some of this rise is due to the coming mortgage chages. If you need a monster mortgage, you need to get hopping and call a real estate agent.

The issue of whether to buy is one of affordability for Millennial-aged buyers and as many are saving, there will be plenty of demand next spring, putting upward pressure on prices.

Millennials Are Driving The Toronto Condo Market

They’ll need more creative mortgage financing and improved condo searches to find something they can afford. Although the mortgage changes in 2018 will put an extra burden on them, and force them to stay in the rental market, they will likely have more money in the spring to buy a condo.

There’s big investor demand for condos too. Student housing is in a severe crunch in Toronto and Vancouver. Investors are well aware of the rental potential of condos and many may be investing in the Vancouver condo market and here in Toronto because of so much rental demand.

If you can’t earn a profit on capital appreciation, you can still make it on rental income.




Toronto Rents Are About to Rise

A report from BNN shows how rental income properties, including condos in Toronto. See where the big rents are.

Why are Toronto Condos such a Draw?

Toronto Condos offer higher cap rates and a larger growing pool of potential renters and buyers. And at this point with severe shortages of detached houses and townhouses, buyers are buying condos. Barry Fenton, President & CEO of Lanterra Developments, a major condo developer suggested Toronto Condo prices could could have risen 40%. They have reached 20% over this time last year.  The detached housing shortage is still alive.

When foreign investors look to escape their own country’s currency nightmares and leverage our weak loonie, they like the Toronto market. Note: If you’re a foreign real estate investor, people often refer to Toronto as being the greater Toronto area encompassing Oakville, Mississauga, Vaughan, Richmond Hill, Scarborough, East York, Pickering and even out to Oshawa. The Newmarket, Bradford, and Aurora regions are included in TREB’s housing sales reports.




Toronto Condo Prices 2017

TREB District Toronto Condo Prices March 2018 Toronto Condo Prices October 2017 Toronto Condo Prices Sept 2017 Toronto Condo Prices August 2017 Sept 2016 March 2012 Price Change over Last 17 months
City of Toronto $651,100 $555,004 $554,069 $550,299 $561,376 $361,800 13.78%
Toronto West $494,400 $446,794 $450,485 $434,218 $487,061 $286,366 1.48%
Toronto Central $656,000 $620,322 $615,654 $615,680 $682,427 $422,396 -4.03%
Toronto East $411,000 $407,775 $395,859 $403,028 $467,689 $237,909 -13.79%
Halton Region $465,300 $478,611 $519,348 $528,579 $485,128 $442,625 -4.26%
Burlington $520,300 $553,029 $514,755 $476,222 $497,800 $370,667 4.32%
Halton Hills $486,300 $516,450 $294,500 $446,971 $381,017 21.65%
Milton $432,000 $413,808 $418,219 $427,594 $406,300 5.95%
Oakville $442,100 $419,438 $606,131 $523,507 $513,682 $485,800 -16.19%
Peel Region $423,600 $389,587 $385,588 $395,188 $461,830 $433,780 -9.03%
Brampton $360,000 $354,618 $336,091 $350,401 $374,596 $351,500 -4.05%
Mississauga $435,000 $395,683 $393,441 $402,344 $485,240 $453,250 -11.55%
York Region $507,000 $495,973 $481,138 $500,456 $544,528 $537,903 -7.40%
Aurora $477,000 $608,750 $562,500 $685,874 $532,785 $525,000 -11.69%
Markham $509,000 $503,796 $486,369 $503,455 $554,643 $527,518 -8.97%
Newmarket $536,000 $416,260 $444,250 $400,340 $496,125 7.44%
Richmond Hill $475,400 $452,319 $446,505 $470,076 $542,470 $596,667 -14.11%
Vaughan $531,000 $532,144 $513,618 $521,400 $593,725 $554,211 -11.81%
Durham Region $407,800 $399,687 $365,297 $376,250 $317,855 $274,350 22.06%
Ajax $396,000 $337,317 $397,125 $379,431 $378,180 $281,688 4.50%
Oshawa $358,000 $302,333 $226,347 $315,075 $243,000 $210,667 32.12%
Pickering $501,000 $448,036 $384,300 $402,316 $396,301 $340,667 20.90%
Whitby $410,000 $448,036 $395,633 $457,143 $344,461 $294,350 15.99%

The Toronto Real Estate Board covers a huge area and below we’ll zero in on communities that may represent the best ones for you to research.

Barry Fenton, President & CEO at Lanterra Developments joins BNN to discuss the Toronto Condo market. He suggests the market is aggressively priced and complains a little about how competitive it is. He says prices will rise 40% but he has a few misgivings about the Toronto Condo market.




Big Demand for Condos as Entry Level Homes

Most home buyers in the Toronto area can only hope to own a condo. Homes are averaging over $1.5 million in some areas in the GTA. And condo developments are offering more for tenants. And perhaps the key feature of Toronto condos is their proximity to work, leisure, restaurants and shopping and freedom from the grinding commute that many Torontonians face each day. So there are good reasons to buy a condo in Toronto.

But the condo investment landscape has recently been darkened by Ontario premier Kathleen Wynne. Her government’s new foreign buyer tax might hit the condo market the hardest, but most credible experts expect demand to return. It’s a short term blip (and as of Dec 2017, the demand for condos did indeed return).

Oddly, the condo market in Toronto is much less volatile than the single housing and townhouse market in Toronto. Her foreign buyer tax and rental price controls look like they’ll miss the mark.

Lets’ take a look at the most recent Toronto condo market prices and then look onward to 2018, 2018, 2019 and 2020. This blurb from the latest TREB condo market report says it all about what’s happening right now in April of 2017:

 

What else is supporting condo sales is proximity to work. Commute times are awful, gas prices are very high, and young millennials are having trouble handling rent/mortgage/ and car payments. Something has to give, so workers are choosing to move into the city near their jobs.

Where are Toronto’s Best Investment Condos?

As the graphic above shows, the top location is Toronto Central (where home prices are highest too), Toronto West and Mississauga. The bulk of these listings are in huge mega-sized condo towers and there are more of them being built. Toronto Central is also close to the U of T, Ryerson, and other colleges where off campus housing is in hot demand. It’s the same situation for Vancouver condo rental and investors should take note.

Toronto’s C02 district is your million dollar listing area. With an average price of $1,050,000 these are your Toronto luxury condos. This area is located just north of Downtown/Bloor st, near the University of Toronto. This suggests that proximity to U of T and downtown offices may be the primer driver of Toronto condo prices and may drive sales of Toronto homes as well.

Screen cap courtesy of the Toronto Real Estate Board. See more at trebhome.com

How Much Have Prices Risen in the Last 5 Years?

Should I Buy a Condo in Toronto?

Should you buy a condo in Toronto, Mississauga, Scarborough, or Brampton?  Demand for condo purchases is rising, the Toronto economy is strong and positive, and rents are rising fast.  At some point, you have to jump in, or you’ll never build homeowner equity.

What to Consider Before you Buy a Condo

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New TREB Report Shows Foreign Buyers Have Minimal Effect on Toronto Housing Market

Foreign Buyers Not Driving Up Prices in Toronto

A new Toronto Real Estate Board investigation has concluded that foreign buyers play a minimal role in Toronto house prices and availability. 3 key findings counter the Wynne government’s insistence that Foreign buyers and house flippers are ruining the housing market.

The report may indicate how government officials haven’t been honest to the public about the cause of high home prices in Toronto — government tax greed and ideology of privilege.

April TREB market report: a growth of 33.6% in home listings in the TREB’s MLS® System in April 2017, at 21,630. Prices rose too.

Tired of Ontario Taxes? Investigate a Costa Rica retirement.

This new finding shows the Foreign Buyers Tax in Toronto (an old school knuckle dragging approach) was a knee jerk reaction by desperate politicians. The sad part is that it could cripple the development of new homes and condos in 2018 and 2019 which would have eased the housing crisis.




It remains to be seen how Toronto condominium developers will react to the Ontario government buyers tax. Currently, the Toronto condo market is alive and healthy. But the housing crisis is unfortunately a sad reality for many Ontarians.

What happened in April 2017?

The MLS® Home Price Index (HPI) Composite Benchmark Price was up by 31.7 per cent year-over-year in April 2017. Similarly, the average selling price for all home types combined was up by 24.5 per cent to $920,791. — from report from TREBhome.com




Homeowners are Finally Selling!

On a positive note, and further to the real point of the study, TREB reported that home sellers appear to be loosening their grip on their homes and are putting them up for sale. The long awaited “Great Home Release” is happening now this spring 2017 in a Toronto neighbourhood near you.  tTREB’s Jason Mercer added in the published statement that it will take a long time for the pent up demand to be fulfilled in the GTA area. from the new May report from TREB.

It was encouraging to see a very strong year-over-year increase in new listings. If new listings growth continues to outpace sales growth moving forward, we will start to see more balanced market conditions. It will likely take a number of months to unwind the substantial pent-up demand that has built over the past two years. Expect annual rates of price growth to remain well-above the rate of inflation as we move through the spring and summer months,” said Jason Mercer, TREB’s Director of Market Analysis.




“TREB strongly believes that public policy decisions with regard to the housing market should be evidence-based and supported by empirical data.”

3 Key Findings that Debunk the Foreign Influence Myth

TREB’s Report summarized these 3 key findings, that debunk the Ontario government’s insistence that foreign buyers and quick investment flips are driving the Toronto housing crisis:

  1. The number of buyers with a mailing address outside of Canada is well-below 1%
  2. Between 2008 and April 2017, the average share of foreign buyers in the Golden Horseshoe area was 2.3%
  3. The majority of foreign buyers – 87% to 90%– purchased their home as a place to live, not as a tax evasion or speculative venture (homes that were bought/sold within a short period of time – within one year of the original transaction by domestic or foreign buyers accounted for a very small share — less than 5% in 2016 and 7% between January and April 2017) of total transactions).

With the above information in hand, what is your opinion of the Ontario government and Mayor John Tory’s stated preference for the Toronto Foreign Buyers Tax? What do you believe is the real purpose of the tax? Will the incoming Ontario government simply get rid of it?  Do you consider the Toronto land transfer tax a fair tax? Do you feel the government is creating the problem with one hand and justifying its role with the other?

Get the full view of the Toronto Real Estate market, along with the Newmarket housing report, and Mississauga housing market report and forecasts.

Should you sell your house fast or for a high price?  In the past 3 months Americans have been selling their home for an average $336,000 more than they paid for it. It’s one more reminder that real estate is where the real money is. And if you’ve been reading my posts, you’ll see that government red tape and land restriction is the real driver of high real estate prices. So if you’re renting, gaining no equity, while your life passes, and can’t come up with hundreds of thousands for a down payment, now you know why. It’s time to speak with your local government representatives about opening up land for development. The alternative is pay the future home prices which could rise another 30% in 2018 (depending on the economy and how well J Trudeau gets along with you know who).

Latest year over year Toronto region home prices (April 2016 to 2017):

Screen Capture courtesy of TREBhome.com




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Toronto Housing Market Crash Getting Closer?

When Will Toronto’s Real Estate Market Crash?

The experts have been calling for a Toronto Housing Crash for several years now, but it never happened. But is time finally running out?

What happens before a Housing Crash? This is the question more people are asking.  If Toronto’s economy is strong, could a crash possibly occur? Do we need to know the factors? If housing does crash, that doesn’t mean the economy would crash would it?

Canada is now a real estate nation, with little else to keep the economy from sinking into an even deeper funk — in the Globe and Mail.

Every month in 2017, brings a new context with new threats. And when prices are this high, perhaps down is the only direction? Some writers in the media including Gordon Pape the finance guru, and Douglas Porter of BMO are hinting about a housing crash.

What are the current issues people are discussing?

  • first time buyers – are they over-leveraged, seriously in debt and able to pay higher mortgage payments?
  • are homeowners exposed to higher mortgage rates?
  • is the renegotiation of NAFTA going to create a wave of mortgage defaults and business failures?
  • fast rise of home prices – going vertical on charts can’t continue
  • what are speculators and the media saying about the market?
  • will Chinese buyers disappear from the market?

In the first 2 months of 2017 have prices in Toronto have been rocketing. March to June, prices will launch into the stratosphere.

According to the Toronto Real Estate Board, active listings in the GTA were down by 50.5 per cent in February compared with the same period last year.  “Inventory hasn’t been this low in 15 years.” from a news post in the Globe and Mail.

Chart courtesy of Trebhome.com

What Causes a Real Estate Bubble and Housing Market Crash?

A Real Estate bubble happens when prices become inflated well beyond their apparent or historical value. Reality may be ready to snap them back to normal. The excessively high prices mean some buyers are likely over leveraged or in financial risk. If the market plummets they will be holding an “underwater mortgage” where they owe much more than the home is worth. They could decide to abandon the home as was evident in past recessions.

There are so many housing crash indicators to consider that even experts and mortgage corporation CEOs can’t provide a very good forecast. And past crashes may not give us any clues. But one insidious factor might be most telling even more than prices — that the economy can’t support it and wage performance in Toronto isn’t good — homeowners really are overleveraged. CMHC has sounded the warning, doing what they can to stop first time buyers from being future victims. Homeowner’s financial position is likely worsening and they’re increasingly in danger of default.

I’m not a qualified housing market economist but who is? You can read forecasts from 4 years ago from the experts who got demand wrong, bubble forecasts wrong, and made other embarassing statements such as “Toronto’s condo glut.” It’s a lot of guesswork. If you’re well to do, the price crash might not mean much, but a housing crash could bring the Ontario economy and indebted Ontario government crashing down. That’s when all hell breaks loose.


Save Money on Auto Insurance in Toronto

It’s almost certain that your auto premiums are high.  Shop around and a low Toronto car insurance quote online.  Some postal codes and neighborhoods are subject to higher premiums. I hop you’re not going to go alone with that? You work hard for you money, so finding lower car insurance rates is a sign of self-respect. Let’s get shopping for the lowest auto insurance in Toronto.

When Will the Housing Crash Happen?

A housing crash occurs when housing prices plummet, due to economic failure, or to a wave of sellers who dump their properties onto the market in desperation to sell them. As in 2007 in the US, if defaults occur, it could bring down the market including mortgage lenders, sending it spiralling downward for years. The US housing crash brought the whole economy down and the damage spread internationally due to economic integration and capital flight.

Canadians, including Torontonians are deep in personal debt and first time buyers may have big student loan debt. Wealthy people would be quick to sell to protect their own fortunes. Once the fuse is lit, we can expect terrible consequences.

What do The Home Builders Think of the Toronto Market?

Are builders jumping into the Toronto market with both feet? That’s a good sign of market direction, because new home development builders have a lot on the line if the Toronto economy should tank. They’d be exposed for hundreds of millions of dollars.

Yet if you look up in Vaughan, Newmarket, Aurora and especially Bradford West Gwillimbury, you’d see massive developments going full steam ahead. In East Gwillimbury, one development just north of Green Lane in Sharon, will have 9000 new homes. Builders seem pretty confident they’re going to sell them all. And generally, they’re sold quick and at very high prices. Chinese buyers are still supporting the market however, buyers from the Toronto area are keenly interested in York Region.

Selling Your Home in 2017

I’m getting more frequent inquiries from Toronto area home buyers and I expect that to grow. They can sense the possibility of the Toronto housing bubble bursting, and that now is the right time to sell their Toronto or Mississauga home and make the migration north. It is a wise time to sell your home anywhere in the Toronto region and settle into something cheaper. We will never see the winfall homeowners are getting now from selling, again in our lifetime.

If you are ready to sell, why not contact me to help you get the best price for your Toronto or Mississauga home? You’ll get an experienced and helpful Realtor to get it sold fast, but for a fanastic price. You won’t be even thinking about their commission.

When the next recession happens, all those who didn’t sell will look back with regrets. The opportunity to benefit by hundreds of thousands of dollars is no laughing matter. You can sell now and move to Costa Rica, Palm Beach Florida, Kelowna BC, Arizona, or Belize and live a wondrously happy existence.

The Kids Will Be Happy and So Will You

Some don’t sell their house because they don’t want to uproot their kids. But kids are resilient, and 100s of thousands of dollars buys a lot of health, high quality education and other youth development benefits. Think how nice that could be?

It may take another year or two before the bubble bursts, buy why wait? You have the big winfall now. If you’re a babyboomer, did you work hard all those years to sit in a house that needs constant repair? Come on, you deserve better than that.

Contact me and I’ll help you get launched on the whole process and get you moving onto a better life. My Realtor associates in your town will do a market valuation and then help you optimize your property for sale. This is an exciting time for you, your spouse and family. Suddenly, you have options you never dreamed of. Be happy and let’s get started!  — Gord

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

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 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.




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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.

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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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Is Your Website Generating Leads? Here’s a Website that Does That

Realtors Biggest Pain: A Website that Creates no Leads

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Time to Think about the Damage your website is Doing to your Realtor Brand Image and choose a new mls idx wordpress website to build leads and sales.

From Dallas to New York and San Francisco CA, Big Picture realtors hate technical details. You want easy to understand, tangible, measurable deliverables such as guaranteed leads yet the legit real estate marketing world has little to offer.

Success is complicated and not everything comes in neat packages. SEO and social media and websites are 3 key pillars of lead generation yet guarantees cant happen. You can guarantee results through smart strategic integration and not have pay $5 to $30 per click. Let go of your security blanket, cause I want to help you discover a key asset your many competitors arent aware of — a great real estate Website.

A new website and your real estate marketing consultant  are your workhorses and here’s why you need to get going on this.

Are the experts forecasting a housing boom in San Francisco, San Diego housing crash or Los Angeles real estate bust? California has enjoyed strong growth but the picture ahead or 2017 to 2020 may be very good.  The US may be headed to a super period of economic growth and the world will learn to follow.


Few realtors know why some real estate websites work or fail. Why does your site fail?

  • it offers no compelling value proposition
  • it makes visitors jump through hoops
  • it tries to force visitors to register when you’ve done nothing to earn that trust and privilege
  • you have no house or condo listings
  • your site is not Google friendly
  • your site has no ranking power
  • your site’s content creates no fans
  • your site’s content is boring and uncompelling and hard to read
  • it isn’t social media friendly and no one shares your stuff
  • your brand isn’t meaningful or desirable

Okay, so your site’s awful. That shouldn’t stop you, because you know that with a plan and persistence, success will happen. A fully loaded, IDX MLS functional, Google friendly website for realtors, with plenty of interesting, exciting and sharable content is one that will generate traffic, leads and sales and commissions.

What Makes a Great Realtor Website?

  1. it is Google friendly – with thousands of idx mls listing pages indexed
  2. it offers a great customer experience enabling searchers to find what they want fast
  3. it makes your realtor brand and unique value proposition clear and concise
  4. it offers interesting, personalized and truly relevant content that makes the visitors experience even better
  5. interesting real estate videos,
  6. the appearance is clean
  7. the content is laid out in a way that insipires curiosity and hope
  8. searchers feel they will successfully find what they’re looking for – confidence
  9. its content is expertly optimized by a real SEO expert
  10. its content scrolls, uses big text, is easy to navigate on a smartphone, may use video background with hi res photos

Here’s an expensive but very nicely custom-designed modern website that raises the bar in real estate web design. It’s for a new construction development that has great photography, layout, and the homepage functionality that reduces clicking for a simple scrolling experience. There’s no idx mls listings of course but the homepage experience is worth noting because the goal of every visitor is to feel good. If you were buying a new condo in an urban area, you might like these condos in Brooklyn, New York.

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A great website like this is a sales weapon. It converts traffic because it adds value and makes the customer journey a great experience.

If your website is sad and lame looking and offers a bad visitor experience, you should take if offline. Realtors with awful websites do extensive brand image and reputation damage with a lame website. They associate you with what happens on their website. If you have no unique, compelling content, or content that’s copied from some source, they will never see you as a leading agent, but rather someone who might be desperate for  a sale.

“It’s better not to be online than let your clients and prospects experience a crappy website”

The Fully Loaded, Hosted, MLS IDX Website that Google Loves

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Seattle Real Estate Web Sites

Why do I offer the websites I do? Because they’re powerful. They make searching a breeze and Google loves these sites. Getting thousands and thousands of pages indexed in Google and interlinked with new, original and engaging content that makes visitors feel great. They can feel they’re on the right path to find what they’re looking for. There’s lots of value for Facebook users, and exciting news for Twitter people.

Since visitors enjoy their great search experience, they will gladly submit their contact info and return later to search further.

An IDX website for realtors built in WordPress makes it easy for you to manage. You won’t need an expense web designer to update and edit. Many of you already blog with WordPress and you’re getting the same nice interface to work with.

What Does IDX Mean?

IDX for real estate agents is the Internet data exchange system where REALTORS® allow each other to show MLS property listings on their websites.  It’s a system of sharing, via a datafeed from our MLS association or others, so that all the listings on your MLS (e.g., Toronto MLS Listings) can be displayed on your website.

It is a powerful advantage that most realtors know about but yet still don’t leverage very well. This is where expertise in SEO and content optimization comes in very handy. Some IDX systems don’t work well, yet the realtors who use them are fooled into believing it is working. If you’re not getting leads, it is likely not working. However, you do need an expert SEO real estate consultant to optimize it.

WordPress sites and all their components update easily so you don’t have be concerned about all this new disruptive technology that’s racing in. You’ll be current with the new features and capabilities. And you could also have $600+ of premium plugins and other valuable bonuses.

When we do a search for Los Angeles homes for sale, one of the top ranking sites is theagencyre.com.  They have almost 9,000 pages indexed in Google. Not great, but not bad either. Theagencyre.com website is easy to understand and doesn’t oppress you with their “stuff” upon entry to their Los Angeles home listings page. You can get right to your search here and if you like what you see, then you’re ready to hear theagencyre’s sales pitch and enjoy all their stuff. This is just one reason why they’re the top Realtors in Los Angeles

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I spoke about this firm and their director Santiago Arana previously. A great website is all part of the package of the Millionaire real estate agent.

If you’re a Toronto broker or Los Angeles broker or Vancouver broker, get prepared to hand over web marketing to me. Using the best mls ids website for real estate agents possible, combined with expert SEO, and compelling, sharable content for social media, we’re going to make you into a millionaire. If Merrily Hackett and Santiago Arana can start from scratch and do it, why not you?

Related posts: Real Estate Lead Generation |  Housing Market | SEO Consultant VancouverTREB Market ForecastRental Housing Market Outlook |  Los Angeles Housing Predictions 2017 | Toronto Housing Market | San Diego Housing Market | Real Estate Agents | Future of Real Estate | Toronto Real Estate SEO | Vancouver Real Estate SEO | Vancouver Condos | Toronto Condos | Vancouver Housing ForecastDigital Marketing for Realtors | Realtor Branding | MLS | Merrily HackettReal Estate SEO Specialist | Top Real Estate Lead Generation Sources | Aurora Newmarket Real Estate Forecast | Bay Area Housing Outlook

Gord Collins — Real Estate SEO Consultant for realtors in Los Angeles, San Francisco, Santa Clara, Sacramento, San Jose, Long Beach, Anaheim, Fresno, Oakland, Bakersfield, Santa Ana, Oceanside, Carlsbad, Palm Springs, Beverly Hills, Chula Vista, Irvine, and many more cities in California. Call now and let’s get started!

Why a Real Estate Agent is So Important for Buyers

The Biggest Gamble of Your Life – When you Buy a House

If you’re selling your home in Vancouver or Toronto, the danger of losing your investment is minimal. Your Toronto realtor or Vancouver realtor has insurance, licensing, has accreditation from TREB or REBGV, and your bank will likely insure you don’t get victimized by a fraudster.

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Buyers get nervous at signing because they’re not sure what the risks are.

Your only concern is how much you’ll get and your realtor oddly enough is going to help you get all you can for your property. He or she will even give you advice on letting go of your old home emotionally and help you prepare for your new life.



The realtor/bank/buying agent represent a triangle of safety. Licensed TREB or REBGV Realtors don’t just handle the paperwork, they’re looking out for your best interests.

If you’re considering buying a property, there’s way more risk. The Toronto market is hot and its a buying frenzy via the MLS. You could be buying into something horrible with pitfalls you didn’t even know existed. And we’re talking way more than knob and tube wiring, wood rot, and cracked foundations.

You’re on Your Own – Hope it All Works Out Okay

You probably thought your “Honest Abe” home inspector was sufficient to cover an examination of the property and warn you of dangers, but there’s lots of stories of home inspectors that didn’t do their jobs or who countered that they can only do so much to assess a property (and they’re covered legally).

When you’re signing to purchase a house and sign a mortgage to boot, that’s a scary moment, especially if you’re a first time buyer and you’re involved in a bidding war in Vancouver or Toronto. Maybe your real estate investment is sound and almost fail-safe. What are the chances Vancouver or Toronto will drop into a recession? Even if they do, the values will recover in a few years. But no one can forecast about a specific property – except maybe a realtor.

9 Buyer Pitfalls that Could Ruin You When Buying

Here’s some of the major pitfalls your Vancouver or Toronto realtor (and San Diego, Los Angeles, or Boston realtor) could spare you from:

  1. being too emotionally involved and nervous means you may lose your objectivity and the selling agent could exploit your situation (that could translate to 10’s of thousands of dollars)
  2. you don’t know what the seller’s obligations are in disclosing the state of the property
  3. selling agent knows you aren’t knowledgeable and takes advantage of your naivete
  4. you don’t have someone with a strong residential real estate background to advise you about the real value of the house or what could happen with a duplex or fourplex
  5. saves you from buying a money pit – you see it all the time on HGTV when they open up the walls of the houses they bought – in a sellers market you may even consider buying as is. You won’t have Mike Holmes around to “make it right.” The realtor focused on homes available on the MLS System.
  6. you wander aimlessly looking at homes that don’t meet your criteria
  7. you have no one to help you negotiate the best terms of a purchase – you end up getting kicked around because there are so many competing buyers
  8. you aren’t sure what’s in store for the neighbourhood, what it’s really like, and what taxes might be looming in years ahead
  9. you consider buying a pre-construction condo even they could go bankrupt taking all your money with them
  10. Was the house a grow op, did the owners smoke, when will the roof need to be replaced, and are the neighbour’s unpleasant, and did the current owners meet all the zoning bylaws?

There’s more dangers than these 10 of course.  I hope you keep your eye on the big picture when you’re spending $600k on a home.  You could fall into a situation that could end your marriage, take your money and health, and push you into bankruptcy.

Buying a home is serious business. Don’t ever go it alone just because you can find info online. Yes, people are excited about the Uberization of real estate, but their enthusiasm will undergo some tempering when it actually happens. There will be some horror stories.

 

Gord Collins is a digital marketing strategist serving clients in Vancouver, Toronto, Montreal, Calgary, Boston, Los Angeles, Phoenix and Denver in the Real estate and insurance industries.  His professional skills include SEO, content development, content strategy, link building and social media strategy.  Realtors should read up on prospecting, best sources of real estate leads, web site optimization, and check out the Toronto real estate and housing forecast for 2017.  In the market for a home loan and new car insurance policy?

Luxury Home Sales in Canada Continue Record Pace

Toronto and Vancouver Sizzling Hot Realty Markets

Although the US markets such as San Francisco, Los Angeles, Charlotte, and Miami are glowing brighter these days, Toronto and Vancouver are actually the hottest markets in the world right now. The Forecast for housing sales and combined with higher condo and home prices means realtors can raise their earnings considerably.

internationalhomepricesBoth Toronto and Vancouver are keeping pace for new sales records this year. And it’s a great time to be selling a $1Million+ home in these 2 cities. Excellent for those who have positioned themselves to sell these properties. Take a look at the sales Jason Soprovich is enjoying in Vancouver.

US and foreign investors are keeping their eye on the Canadian market as the Canadian loonie stays down at 75 cents US. There’s still time to get onboard the rising tide.

The globe and mail reports that in the first two months of the year sales of Vancouver homes valued at more than $1-million increased 23 % year over year. Toronto luxury homes were up an unbelievable 63% year over year. Overall in the GTA, home prices rose to about $720,000 on average.

Depicted at right are the world rankings of property prices around the world. Knight Frank’s most recent  world wealth report   shows “prime” property prices in Canada are rising at a rate that’s 4 to 14 times faster than the average of the rest of the world.

“Luxury home sales in Toronto and Vancouver will continue to defy gravity this spring. Both markets have the potential for significant gains and we expect heightened demand and insufficient inventory to drive price escalation and sellers’ market conditions.” — from a statement by  Brad Henderson, president and CEO of Sotheby’s International Realty Canada, reported by the Globe and Mail.

Toronto Soars

TREB reported 7,621 home sales in February, up from 6,294 — a rise of 21%.  That’s despite the fact supply is actually very limited. More homes are sneaking above the $1 million mark thus giving them the tag of luxury homes, when in fact, some of them aren’t really luxury homes at all. Is it time to refer to luxury homes as those above $4 Million? The forecast for 2017 sales and new construction are positive. It’s been record growth recently.

Vancouver Rockets

Sales of detached homes rose by 37% year over year and the average price of a detached home in Vancouver has also risen 37% to $1.3 million.  Most luxury home sales in Vancouver are from 2 to 5 Million dollars. New listings in Greater Vancouver increased 7% so clearly homeowners are starting to get the itch to sell.  Ironically, the total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,299, a 38.7% drop compared to February 2015.

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It’s common knowledge that few Vancouverites can afford to buy a home. We have to ask who buyers are now in both Vancouver and Toronto?  Clearly, Millennials can only afford lower end condos in most areas of greater Toronto and Vancouver. The desperation of the market has increased the use of shadow flipping, which the BC premier says she intends to clamp down on. However, she also stated she will not do anything to affect homeowner’s equity– clearly signalling a “hands off” attitude that will appeal to luxury home and condo investors around the world.

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As the white line above shows, Vancouver condos still haven’t taken off in price. Maybe this will be your investment opportunity? (Call me if you need a tenant — me. Don’t let that luxury condo sit empty when I could be minding it for you:)

With migration into Vancouver on the rise, the government will have to act fast to promote new home development. With low interest rates, investors and developers are eager to get into these fantastic market opportunites.

Luxury Home Realtors Having a Great Time

Vancouver area luxury real estate agents are enjoying a rare period of exceptional sales and income.  It could be another record year in 2016 for Sutton Group West Coast Realty who are clearly enjoying the fruits of being top dog in the current residential and commercial property boom.

Luxury home realtors may have to shift their marketing to the International investor and buying audience of Saudis, Chinese, Hong Kong, Australian, US and European buyers whose currency exchange rates given them a decided boost in purchasing power. Asian investors are buying globally, but nowhere do they feel more comfortable and welcomed as in Vancouver.

Additional Luxury Real Estate posts:

Who’s buying properties in Vancouver in Toronto?

What makes a better luxury real estate agent?

Are the most beautiful condos in Vancouver lifting the market even more?

What do home sellers really want from a realtor?

What’s up in Realtor marketing today?

 

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