Be Prepared to Buy
Tuesday May 26th, 2020Share
I hope each of you are all safe,
your health is my priority.
The future is not as foggy as few weeks ago.
We can do some predictions with limited info we have in hand.
Real estate has shown again and again, after every crises, it is the best investment if you are a long term investor compare to stocks, gold, etc...
1- Domestic and international immigration to GTA.
2- Softened stress test
3- Low mortgage rates
4- Slowed construction sector
5- Rush for September closings
6- No vacation will bring more buyers as well
7- High number of first time buyers
Will drive residential real estate prices upward.
Shutdown of Airbnb and no international students will effect rental market temporarily, for a short period.
in last 70 days of shutdown of real estate market, prices did not get affected much, but number of sales plumbed.
May 2017, Foreigners Tax has corrected houses over $1.5M.
BUT now, due to material costs, labour costs, development and levies, the builders will not lower the prices but stall the market to aggravate demand to trigger a hot market.
Therefore, across the board all residential prices will surge.
All we need is perception.
1- Positive media covarage
2- Medical advancement news
3- Return of students
As Realtors, we switched gears,
in the beginning, we helped our community, we showed leadership.
I put my realtor hat on a side,
organized mask production
provide information to public thru Zoom meetings
reach out over 20,000 people to inform them with their economic governmet programmes.
Create new funnels of opportunities, potential clients from turkey to here for a recently created Realtors alliance.
participate in many educational seminars and lots of readings which add tremendous value to how I do my business.
I initiated few studies with an university in Turkey and one in Ontario. Soon I will release outcomes. I have full of energy and motivation which I have been sharing with my surroundings and I have proven that I am a man of down times. I am always there for you.
Now, it is the time to face realty of lost jobs, new opportunities, adopting of digital world, new normal.
No rush to buy, But I tell my client prepare your mortgage ASAP, the moment your mortgage is aligned, I can get you a great deal.
22 May 2020