East Side Food Drive – THE THANKSGIVING EDITION!
East Side Food Drive
THE THANKSGIVING EDITION!
Hey Friends,
With Thanksgiving just around the corner, we’re excited to announce that we’re gearing up for our 12th East Side Food Drive in support of the Daily Bread Food Bank!
We would love your help to make this event a success. To make it as convenient as possible for you, we’ll pick up your food donations right from your doorstep and deliver them to Daily Bread on your behalf.
Together with Daily Bread Food Bank, we believe that access to food is a basic human right, not a privilege. No one should go hungry or face barriers to accessing food.
If you live on the east side of Toronto and want to contribute, here are some of the most needed items:
– Shelf-stable and non-perishable foods such as rice, beans, pasta, and flour.
– Canned proteins like chicken and tuna.
Ready to help out? Click the button below, fill out the form, and have your donations ready for pickup on Thursday, October 10, 2024.
Not within our pick up area but still want to contribute?
You’re amazing! You can make a monetary donation directly to Daily Bread Food Bank by clicking the button below.
Friends in the East end?
Do you know someone who lives in the East end of Toronto who might be interested in contributing? Help spread the word about the East Side Food Drive by forwarding this email to them!
Want more info about our East Side Food Drive?
Check out photos and videos from our past events and learn more about our East Side Food Drive by clicking the button below!
Thank you in advance for your support. We appreciate you and wish you a wonderful Thanksgiving!
October 2024 Market Report
Thurston Olsen Real Estate Group
Hey Friends!
October is not just about pumpkins and falling leaves—it’s a time to reflect on the incredible community spirit in Toronto.
As we gear up for Thanksgiving and upcoming holiday events, we’re here to support both your real estate needs and community efforts, including our latest East Side Food Drive.
Let’s take a few minutes to give you another Real Estate update for September 2024.
Looking to Pay Off Your Mortgage Sooner, Save on Taxes, and Reduce Interest?
Who wouldn’t want that?!
At The TO Group, we leverage our extensive network of industry professionals to help you achieve your financial goals. One of our trusted mortgage brokers, Zac Lofeudo from the Vine Group, is hosting a complimentary seminar on how to benefit from the Rental Cash Damming strategy.
This CRA-approved method can help you pay off your mortgage up to 15 years sooner while saving on both taxes and interest!
If you have equity in your home or own rental properties, you won’t want to miss this seminar. Don’t miss out on this opportunity to fast-track your financial freedom. ?
Click the link below to register for the seminar and start your journey to smarter real estate investing!
Bold Mortgage Reforms to Improve Accessibility to Home Ownership in Canada
Big changes are coming to Canada’s mortgage policies, effective December 15th, aimed at improving affordability and accessibility for homebuyers. While these reforms offer exciting opportunities, they also come with some potential challenges for the long-term housing market. Let’s dive into the key changes:
- Extended Amortization Periods: For first-time homebuyers and those purchasing new builds, the amortization period is increasing to 30 years (up from 25 years). This lowers monthly payments, improving affordability. However, keep in mind that a longer mortgage means paying more in interest over time.
- Higher Purchase Prices with Less Down: The threshold for a less than 20% down payment has increased from $1 million to $1.5 million. This allows buyers to purchase higher-priced homes with smaller down payments. But remember, carrying costs for a $1.5 million home with a minimal down payment can be high, so this will benefit a select group of buyers with high incomes.
- Increased Competition Among Lenders: Insured mortgage holders can now switch lenders at renewal without going through another stress test. This opens up competition, making it easier for Canadians to find better mortgage rates.
These reforms aim to make home ownership more accessible, but will also impact affordability. Whether these changes are a long-term benefit remains to be seen.
Our prediction? We feel that this may fuel demand and competition in the marketplace which could boost home values. Now could be a great time to buy.
Let’s have a chat if making a move has been on your mind!
What We Are Seeing From the Field
More new listings and more sales!
As expected with a typical fall market, new listings and sales improved compared to August 2024. More encouraging is that new listings (+8.5%) and sales (+3.7%) have both increased year over year compared to September 2023. A welcome sign showing increased activity in the market compared to last year!
Average prices remain fairly level compared to last September. However, we did see a price improvement of approximately 8.5% for homes in Toronto compared to last month.
The condo market still remains well supplied with approximately 6100 active listings as of September 30th, 2024. This means that there are ample options for condo buyers with the potential to negotiate price. Condo sellers should be prepared to be patient and realistic with their price expectations.
Check out the September year-over-year stats below for more information on the current market. If you would like statistics specific to your neighbourhood, an updated Comparative Market Analysis for your home, or help deciphering what the numbers could mean for you, please let us know and we would be happy to provide that for you.
Protect Your Largest Investment: Your Home
For most of us, our home is our biggest investment—so it’s important to protect it, especially from the challenges of Canadian winters. A well-maintained home not only ensures comfort and peace of mind but also helps preserve and even increase its value.
By keeping your home in top condition, you’re setting yourself up for a better return when you decide to sell.
Ready to get started? Click below for your complimentary Fall Home Maintenance Checklist to ensure your home stays in prime condition year-round.
LOOKING FORWARD
Last Call for Our East Side Food Drive – Thanksgiving Edition! ? October 10, 2024
We’re gearing up for our next East Side Food Drive, and we’d love your support! The need for food in Toronto is urgent. 1 in 10 people now rely on food banks, double from last year.
Let’s come together to make a real impact for our community this Thanksgiving.
Click below for more info on our East Side Food Drive and to sign up to contribute.
As always, we’re here for any real estate services or advice you, your family, or friends might need. Feel free to introduce us—we promise to make you look great!
Cheers!
Chris and Ford
October 2024 Market Report
Thurston Olsen Real Estate Group
Hey Friends!
October is not just about pumpkins and falling leaves—it’s a time to reflect on the incredible community spirit in Toronto.
As we gear up for Thanksgiving and upcoming holiday events, we’re here to support both your real estate needs and community efforts, including our latest East Side Food Drive.
Let’s take a few minutes to give you another Real Estate update for September 2024.
Looking to Pay Off Your Mortgage Sooner, Save on Taxes, and Reduce Interest?
Who wouldn’t want that?!
At The TO Group, we leverage our extensive network of industry professionals to help you achieve your financial goals. One of our trusted mortgage brokers, Zac Lofeudo from the Vine Group, is hosting a complimentary seminar on how to benefit from the Rental Cash Damming strategy.
This CRA-approved method can help you pay off your mortgage up to 15 years sooner while saving on both taxes and interest!
If you have equity in your home or own rental properties, you won’t want to miss this seminar. Don’t miss out on this opportunity to fast-track your financial freedom. ?
Click the link below to register for the seminar and start your journey to smarter real estate investing!
Bold Mortgage Reforms to Improve Accessibility to Home Ownership in Canada
Big changes are coming to Canada’s mortgage policies, effective December 15th, aimed at improving affordability and accessibility for homebuyers. While these reforms offer exciting opportunities, they also come with some potential challenges for the long-term housing market. Let’s dive into the key changes:
- Extended Amortization Periods: For first-time homebuyers and those purchasing new builds, the amortization period is increasing to 30 years (up from 25 years). This lowers monthly payments, improving affordability. However, keep in mind that a longer mortgage means paying more in interest over time.
- Higher Purchase Prices with Less Down: The threshold for a less than 20% down payment has increased from $1 million to $1.5 million. This allows buyers to purchase higher-priced homes with smaller down payments. But remember, carrying costs for a $1.5 million home with a minimal down payment can be high, so this will benefit a select group of buyers with high incomes.
- Increased Competition Among Lenders: Insured mortgage holders can now switch lenders at renewal without going through another stress test. This opens up competition, making it easier for Canadians to find better mortgage rates.
These reforms aim to make home ownership more accessible, but will also impact affordability. Whether these changes are a long-term benefit remains to be seen.
Our prediction? We feel that this may fuel demand and competition in the marketplace which could boost home values. Now could be a great time to buy.
Let’s have a chat if making a move has been on your mind!
What We Are Seeing From the Field
More new listings and more sales!
As expected with a typical fall market, new listings and sales improved compared to August 2024. More encouraging is that new listings (+8.5%) and sales (+3.7%) have both increased year over year compared to September 2023. A welcome sign showing increased activity in the market compared to last year!
Average prices remain fairly level compared to last September. However, we did see a price improvement of approximately 8.5% for homes in Toronto compared to last month.
The condo market still remains well supplied with approximately 6100 active listings as of September 30th, 2024. This means that there are ample options for condo buyers with the potential to negotiate price. Condo sellers should be prepared to be patient and realistic with their price expectations.
Check out the September year-over-year stats below for more information on the current market. If you would like statistics specific to your neighbourhood, an updated Comparative Market Analysis for your home, or help deciphering what the numbers could mean for you, please let us know and we would be happy to provide that for you.
Protect Your Largest Investment: Your Home
For most of us, our home is our biggest investment—so it’s important to protect it, especially from the challenges of Canadian winters. A well-maintained home not only ensures comfort and peace of mind but also helps preserve and even increase its value.
By keeping your home in top condition, you’re setting yourself up for a better return when you decide to sell.
Ready to get started? Click below for your complimentary Fall Home Maintenance Checklist to ensure your home stays in prime condition year-round.
LOOKING FORWARD
Last Call for Our East Side Food Drive – Thanksgiving Edition! ? October 10, 2024
We’re gearing up for our next East Side Food Drive, and we’d love your support! The need for food in Toronto is urgent. 1 in 10 people now rely on food banks, double from last year.
Let’s come together to make a real impact for our community this Thanksgiving.
Click below for more info on our East Side Food Drive and to sign up to contribute.
As always, we’re here for any real estate services or advice you, your family, or friends might need. Feel free to introduce us—we promise to make you look great!
Cheers!
Chris and Ford
September 2024 Market Report
Thurston Olsen Real Estate Group
Hey Friends!
Well, Summer happened quickly!
We hope that you took some time to enjoy the beautiful weather, time with family and friends, and maybe even a summer vacation!
The TO Group is recharged and ready to take on the Fall real estate market.
Let’s take a few minutes to give you another Real Estate update for August 2024.
BANK OF CANADA SLASHES THEIR RATES AGAIN
For those who hold variable rate debt, their shoulders are likely feeling a bit lighter as the Bank of Canada continues to drop its overnight rate. Can you hear the collective sighs?
On September 4th, the Bank of Canada dropped their overnight rate by another quarter point, their 3rd straight rate cut.
It is widely expected that they will make 2 more cuts before the end of the year and further cuts into 2025.
So, what does this mean?
The real estate industry views this as a positive sign going forward and many expect that this will inject some life into the more recent “slumping” market. We’ve already been receiving calls from buyers who had been waiting for their time to get into the market and we feel that this will be a sign of things to come!
While a 0.25% decrease in the overnight rate only results in a monthly savings of approximately $15 per $100,000 borrowed, the biggest immediate impact will be in consumer confidence. The light at the end of the tunnel is finally in view along with lighter debt commitments.
Have you been waiting for a sign? This could be it.
Reach out and let’s have a chat!
WHAT WE ARE SEEING FROM THE FIELD
With the first week of September in the books, we have already seen increased activity from buyers, more specifically in the freehold market. Some listings that had been hanging around during the summertime are starting to get scooped up.
The condo market remained slow moving with a resale inventory that approached 6000 units at the end of August. There are still some fantastic deals to be had out there. With increasing rent prices and a clearer picture of decreasing borrowing costs, now could be an excellent time to purchase a condo.
TRREB President Jennifer Pearce noted that the Bank of Canada’s recent rate cut on September 4 could boost affordability, particularly for first-time buyers using variable rate mortgages. As mortgage rates are expected to decrease, more first-time buyers may enter the market, especially in the condo sector.
Check out the August year-over-year stats below for more information on the current market. If you would like statistics specific to your neighbourhood, an updated Comparative Market Analysis for your home, or help deciphering what the numbers could mean for you, please let us know and we would be happy to provide that for you.
LEVEL UP YOUR LIVING!
The TO Group loves working with clients looking to upsize from their current home to their dream home.
Whether you’re looking for more space for your growing family, a better school district, or a bigger yard for your favourite furry friend, we can help you achieve your real estate goals!
We’ve put together a handy Upsizing Guide that will help you prepare for your next move.
Want a copy? Just click below and we’ll send you one.
LOOKING FORWARD
We are looking forward to our next East Side Food Drive – Thanksgiving Edition on October 10, 2024 and would really appreciate your support!
The demand for food in our city is urgent. One in ten people in Toronto are now relying on food banks, twice as many as the year prior. Let’s team up to make a difference!
Click below for more info on our East Side Food Drive and to sign up to contribute.
As always, we would be happy to help you and any of your friends, family, colleagues, or neighbours with real estate services or advice. If you can think of anyone that could use our help, feel free to make an introduction! We promise we’ll make you look good ;)