Deepak Gupta's blog

Now Could Be the Perfect Time to Enter the Real Estate Market

If you’ve been waiting for the right opportunity to make a move in real estate, this might be it. The Bank of Canada’s recent decision to cut its policy rate by 50 basis points, bringing it down to 3.25%, is sparking fresh possibilities for homebuyers, sellers, and investors alike. Here’s a closer look at how this rate cut could benefit you.

What Does the 3.25% Rate Mean for Homebuyers?

This lower interest rate could significantly impact your homeownership goals by reducing borrowing costs. Here’s how:

    1.    Lower...

GTA Housing Market Shows Strong Rebound in November 2024

The Greater Toronto Area (GTA) housing market made significant strides in November 2024, with home sales seeing a remarkable year-over-year increase. This uptick comes as many buyers took advantage of more favorable borrowing conditions amidst lower interest rates and declining inflation. Here’s a closer look at the key market trends and what they mean for buyers, sellers, and investors as we head into 2025.

Market Performance Overview

• Home Sales Surge: In November 2024, GTA REALTORS® recorded 5,875 home sales, reflecting a 40.1%...

Big Changes Coming to Make Homeownership More Accessible for Canadians!

Starting December 15, 2024, a series of exciting updates are set to reshape the path to homeownership, making it easier for Canadians to enter the real estate market. Here's what you need to know:

Key Updates:

• Higher Price Cap: The insured mortgage price cap will increase from $1 million to $1.5 million, opening doors for more buyers who may not have the full 20% down payment.
• 30-Year Amortization Options: First-time buyers and those purchasing new builds will now have access to 30-year mortgage amortizations,...

Why Wait? Toronto Real Estate Won’t Stay Quiet for Long

Market Activity

GTA home sales surged in October 2024, showing a substantial year-over-year rise. New listings increased but at a slower pace, leading to a tightening in market conditions compared to October 2023. This shift reflects the impact of recent rate cuts, which encouraged more buyers to return to the market, capitalizing on improved affordability.

Sales and Pricing Trends

October recorded 6,658 home sales, marking a 44.4% increase compared to the previous year. New listings were also up, totaling 15,328—a 4.3% year-over-year increase. The average selling price rose modestly by...

Steer Clear of These Common Homebuyer Pitfalls in Today’s Market

Buying a home is a major milestone and likely one of the biggest financial decisions you’ll make. Mistakes in the process can be costly, but with guidance from a knowledgeable real estate agent, you can avoid common errors that trip up many buyers today. Here’s a closer look at some of the top missteps buyers make and how a trusted professional can help you avoid them.

Avoid Trying to Predict Market Conditions

Some buyers are holding off on purchasing, hoping for a dip in home prices or mortgage rates. While this might...

September Real Estate Update for the Greater Toronto Area (GTA)

Home Sales and Market Demand

In September, the GTA saw a notable increase in home sales year-over-year. Buyers are increasingly taking advantage of favorable market conditions influenced by recent interest rate reductions and lower housing prices. As financing terms improve, many households in the region are finding long-term home ownership more attainable.

Sales and Listings Statistics

There were 4,996 home sales reported through the MLS® System this September, marking an 8.5% increase from the same period last year. New...

The Canadian mortgage market is set to undergo significant changes following new proposals announced by the Liberal government. These adjustments aim to make homeownership more accessible, particularly for first-time buyers and those interested in new builds.

One of the key changes is the extension of the mortgage amortization period to 30 years for insured mortgages, up from the current 25-year period.

This longer repayment option will be available to first-time homebuyers and individuals purchasing newly constructed properties, helping to lower monthly mortgage payments, though it may...