Millennials starting to drive recreational property market

New buyer demographic comes with different lifestyle and property criteria than those of their boomer counterparts: RE/MAX

Millennials starting to drive recreational property marketThe majority of millennials are in the market to purchase a recreational property, according to a new RE/MAX survey conducted by Leger and released on Thursday. The survey found 56 per cent felt that way compared with 42 per cent last year in the survey. The real estate company said the increase in buying intentions…

Canmore leads recreational property price rises in Alberta

Royal LePage report says recreational property in Canada saw healthy price gains leading up to the 2019 spring market

Canmore leads recreational property price rises in AlbertaDriven by price gains in Canmore, the largest reporting region in Alberta, the aggregate price of a single-family home in recreational regions rose 10.2 per cent to $819,583, according to a report real estate firm Royal LePage. The report said the aggregate price in the province is expected to increase 2.4 per cent in 2020.…

Try-before-you-buy concept used to sell home

Realtor said the owners are offering a stay of about a week but everything is negotiable in real estate

Try-before-you-buy concept used to sell homeYou wouldn’t think of not taking a vehicle out on a test drive before making one of the biggest purchases in your life. So why not a home? A Calgary homeowner who has listed a property for sale is taking the same concept and adapting it to the real estate industry. The seller is offering…

Mortgage stress test has negative economic impact: report

‘Each housing start that is lost has an economic impact that is 10 times greater than for each lost resale transaction’

Mortgage stress test has negative economic impact: reportThe construction of new homes and home renovations are turning sharply downwards due to the mortgage stress test, which in turn will impact regional economies across Canada, says a new report. The False Binary, authored by Will Dunning, chief economist with Mortgage Professionals Canada, calls on the federal government to engage in discussion about the…

Big dreams come with tiny homes

Brian Hawkins of The Tiny House Movement talks about the significant advantages in store for people who downsize

Big dreams come with tiny homesBrian Hawkins is owner of The Tiny House Movement. What is the Tiny House Movement? Hawkins: The Tiny House Movement has been around for more than a decade, but it's really taken hold the last three years. It's become much more mainstream with the help of TV shows on HGTV, Netflix and the DIY network.…

Strong demand for Canadian industrial real estate: report

Avison Young says demand will continue to outpace new development, driven by e-commerce

Strong demand for Canadian industrial real estate: reportCanada's industrial real estate market began 2019 on a strong footing, building on the exceptional results achieved in 2018, according to a new report by Avison Young. “While Vancouver and Toronto remain key markets for occupiers and investors, scarcity of product was evident in the single-digit vacancy rates posted across the country in the first…

Mortgage stress test still felt in Canadian housing market

TD Economics report admits the rules brought housing activity down to a more sustainable level

Mortgage stress test still felt in Canadian housing marketSixteen months after being introduced, the federal government’s mortgage stress test continues to be felt in all corners of the housing market, says a new report by TD Economics. The report, Assess the Stress: Examining the Impact of the B-20 Rules on Housing 16 Months Later, said the mortgage rules distorted sales activity before and…

First-time buyers need help from family, friends to purchase homes

BMO report says over 10% of first-time buyers are looking for a financial gift of $100,000 or more

First-time buyers need help from family, friends to purchase homesA report released on Tuesday by BMO says first-time homebuyers across the country increasingly look for help from friends and family when purchasing a home due to household debt and higher interest rates. The report, conducted by Pollara Strategic Insights, found: Over one-quarter of Canadians are looking for a financial gift between $5,000 and $50,000.…

Cost of housing pushing millennials to the suburbs

TD survey says young Canadians would prefer to live in urban neighbourhoods

Cost of housing pushing millennials to the suburbsA new survey says 81 per cent of Canadian millennials want to own a home but financial realities such as rising prices mean they have to look at the suburbs for affordability. The survey, released on Wednesday by TD, said 33 per cent of millennials say that city living is their preference but 64 per…

Mortgage stress test takes a bite out of new mortgages

Accounted for an estimated 50 to 60 per cent, or between $13-$15 billion, of the overall decline

Mortgage stress test takes a bite out of new mortgagesThe mortgage stress test, B-20, accounted for an estimated 50 to 60 per cent, or between $13-$15 billion, of the overall decline in mortgage originations (the process by which a borrower applies for a new loan, and a lender processes that application) throughout 2018, according to a new report released Tuesday by CIBC Economics. The…

House prices falling across Canada

Calgary and Edmonton hit hard, according to report from real estate association

House prices falling across CanadaHouse prices are falling across the country, with significant declines in March in the Calgary and Edmonton regions. According to its regular monthly report, the Canadian Real Estate Association said the aggregate MLS benchmark price across Canada of $617,200 was down by 0.47 per cent year over year during the month. The report said the…

Non-traditional home buying approaches on the rise

More solo Canadians are buying property; down payments are trending up: RBC

Non-traditional home buying approaches on the riseMore Canadians are taking a non-traditional approach to buying a home and many say being house poor may be the reality of home ownership, says the annual RBC Home Ownership Poll, which was released on Monday. “We're seeing a fundamental contrast in who's at the buying table,” said Nicole Wells, vice-president of home equity financing…

Creating the right environment for real estate success

Shami Sandhu talks about what makes Realty ONE Group different and why those differences work well for buyers and agents

Creating the right environment for real estate successShami Sandhu is president and regional director of Realty ONE Group of Western Canada. What is the Realty ONE Group and what do you do? Sandhu: Realty ONE Group is a full-service lifestyle real estate brand that has experienced rapid growth since Kuba Jewgieniew started the company in 2005. Unlike existing traditional models, we don’t…

We need a big-picture perspective on house prices and mortgages

Taking on more debt is not a good thing. In fact, it could be devastating for the Canadian economy

We need a big-picture perspective on house prices and mortgagesThe future, when it arrives, isn’t always what we imagined. Technology hasn’t yet brought us vacation trips to the moon or Mars. But it has brought us Twitter, where even world leaders communicate in 140 character blocks. Does this affect our brains? Can we no longer hold more than one simple idea in our heads…

RE/MAX partners with online real estate brokerage Redfin

Redfin’s new Canadian real estate site brings its industry-leading search experience to most provinces

RE/MAX partners with online real estate brokerage RedfinReal estate powerhouse RE/MAX is partnering with technology-powered real estate brokerage Redfin to reach consumers through the Redfin Partner Program. In a news release, the two companies said that in areas where Redfin doesn’t have capacity to serve customers, Redfin refers customers to approved partner agents at other brokerages, including participating RE/MAX agents. When the…
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