By: Iris Khodkar

Toronto Real Estate Marker Experiences Another Record Breaking Month in September

Tags: COVID, Corona, corona virus, real estate, real estate market, buy, sell, september, fall market, detached, semi-detached, townhouse, condominium, york region, city of toronto, durham region, peer region, halton region, iris, iris khodkar group, re/max, re/max west realty

Home sales in the Toronto region have broke a new monthly record for the third month in a row! The average home price across the Toronto Region grew 14% year-over-year to hit 960,772 in September. Low rise freehold housing outside the City of Toronto continued to drive sales growth across the region. With new listings unable to keep up with demand, several regions exhibited tight competition condi...Read More

By: Iris Khodkar

Greater Toronto Home Sales up in the Month of August

Tags: GTA, Sales, real estate, buy, sell, hot market, COVID, market watch, market analysis, detached, semi detached, townhouse, condominium, for sale, iris, iris khodkar group, re/max, re/max west realty

After a busy July, real estate activity in the greater Toronto Area broke yet another record in August for monthly home sales. Released data from the Toronto Regional Real Estate Board (TRREB) for August revealed that home sales reached 10,775- a 40% increase from last year. The average home price jumped 20% also setting a new record. Although the total number of homes sold was up by 40% across t...Read More

By: Iris Khodkar

Working from Home and its Impact on Home Insurance Rates

Tags: Home Insurance, impact, insurance rate, jobs, employer, employee, business, risk, insurance policy, coverage, liability, home policies, side hustle, iris, iris khodkar group, re/max, re/max west realty inc

While every home policy is different, it is unlikely that working from home as an employee would change your home insurance rate. Jobs that actually can be done from home usually involve little more than laptops, inherently making them low-risk activities. Working for an employer at a desk job does not carry the same risk as running the business itself, so you wouldn’t need to worry about w...Read More

By: Iris Khodkar

Toronto Home Sales Hit New Record for July

Tags: Toronto, Real Estate, Record, Toronto real estate, buy, sell, demand, detached, semi detached, townhouses, condominiums, york region, sales, iris, iris khodkar, iris khodkar group, re/max, re/max west realty

The easing of COVID-19 restrictions across the province coupled with pent-up housing demand led to record breaking sales within the Toronto Region for month of July. The latest data from TRREB showed that the home sales across the Toronto Region were up on an annual basis, increasing 29% year-over0year to 11,081. In the City of Toronto alone, sales were up 15% y-o-y and 26% month-over-month to 3,...Read More

By: Iris Khodkar

New Listings in Downtown Condos Popular for Short-Term Rentals Grow Significantly faster than Average

Tags: aribnb, short term rentals, tenant, short term, tenant, landlord, COVID, COVID-19, iris, iris khodkar, iris khodkar group, re/max, re/max west realty, city of toronto, vacancy rates

Although COVID-19 restrictions are slowly easing across the province and the economy opens up, the decline in travel and tourism to the City of Toronto as a result of the pandemic may have had a ripple effect on the real estate sector, particularly on condo investors in the region. Despite the temporary two-month ban on short term rentals lifting on June 5th across Ontario, a significantly slower ...Read More

By: Iris Khodkar

Toronto Home Prices in June Exceed Pre-COVID levels

Tags: COVID, Corona, corona virus, real estate, real estate market, buy, sell, TRREB, Toronto regional real estate board, listings, properties, market increase, detached homes, semi detached, condo, condominium, townhomes, iris, iris khodkar, iris khodkar group, re/max, re/meax west realty

The Toronto Region housing market recovered considerably in June following a significant slowdown due to COVID-19. As cases started to decline across the province and the economy began to open up, more buyers and sellers jumped off the side lines and returned to the market, kickstarting sales recovery. Similarly, average home prices continued a steady upward trajectory, lapping February 2020 level...Read More

By: Iris Khodkar

READY TO VIEW HOMES? HERE’S HOW TO DO IT SAFELY

Tags: homes, COVID, Coronavirus, pandemic, real estate market, mask, sanitize, ettiquete, buy, sell, showings, buyers, sellers, iris, iris khodkar group, re/max, re/max west realty, safety first, viewings

As many parts of the country lift COVID-19 restrictions, more Canadians are starting to feel confident about getting back in the real estate market. Real estate agents have taken several steps to ensure private showings are safe and clients feel comfortable at all times. If you’re gearing up to view some properties, here are some additional steps you can take to keep yourself protected. BRI...Read More

By: Iris Khodkar

CMHC changes are coming July 1st 2020

Tags: CMHC, mortgage, loan, interest, buy, sell, real estate, buyers, sellers, first time home buyers, sale, home, gta, income, down payment, iris, iris khodkar group, re/max, remax west realty

Here is what's happening:   Prior to January 1st 2018 if you earned $100k income this used to qualify you for a $750k mortgage. Currently $100k income qualifies one for a $500k mortgage. Now effective July 1st, 2020 when the new rules are in place, $100k income will be cut back to qualify one for a $440k mortgage (less $60k or approximately 12%). In addition, the new rules require at leas...Read More

By: Iris Khodkar

Potential Market Shifts in a Post-COVID-19 Era

Tags: COVID-19, real estate, real estate market, priorities, flooplan, interest, mortgage, upsizing, downsizing, buyers, sellers, market shift, shift, iris, iris khodkar, iris khodkar group, re/max west realty

The one constant in the real estate market is that it is ever-changing. Markets can look similar to each other, and we can learn from the past, but there will always be new challenges and opportunities for buyers and sellers. While there is much speculation surrounding the future, below are a few potential market shifts that are worth preparing for in a post-COVID-19 real estate market NEW FLOOR...Read More

By: Iris Khodkar

Canada Emergency Commercial Rent Assistance Program For Small Businesses

Tags: canada emergency, covid, corona, commercial rent assistance, canada, real estate, eligible business, small business, tenant, relief program, iris, iris khodkar group, re/max, re/max west realty

The federal government recently promised the creation of the Canada Emergency Commercial Rent Assistance program (CECRA) to help small businesses with commercial rent payments for the months of April, May, and June 2020. On April 24th, Justin Trudeau announced that the federal government had reached an agreement in principle with all provinces and territories to create and implement CECRA HOW WIL...Read More