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Mortgage Broker News | 17 May 2018, 01:02 AM Agree 0
Sales-to-listings ratio remains stable, although it's on the lower end historically
  • DeLux | 17 May 2018, 08:39 AM Agree 0
    Not yet. They are trapped but still carrying on as CMHC default is qualified after 365 days of nonpayment, which gives market so-called "liquidity". In another word, if you can't pay, sell and somebody else will carry on. Until of course, people learn not to get involved unless values are supported by income fundamentals. Real estate boards must be held on a tight leash with their data accessibility to ensure free and democratic markets. Current practice allows obfuscation of prices, DOM, resulting in false YoY. General business malpractice is to list properties and if they don't sell, realtors pull listings off the market and relist in few days with new/lesser price. This resets DOM(days on a market) to zero, masks real motivation of sellers and creates a false impression of a demand. (When houses sit on the market under old listing for weeks or months, then pulled off the market and relists with the new price and sell in days there is no record of how long the subject house was on the market.) Widespread fraud, forcing Competition Bureau representing consumer to litigation against TREB.
  • Kaei | 10 Jun 2018, 11:57 PM Agree 0
    If you plan to buy house give yourself at-least 2 months already before start putting offer, that's only for research, to pick reasonable property, research on locality and asses market value. Offer for some properties on conditional terms with way less price then offer and you will find sellers are accepting that even, Don't listen to Real Estate agent to push you to bid higher any time, even if they are claiming it's reasonably priced, Bank's are not approving loan, the appraised value of houses are way lower than asking so they want to put all Mortgage to Insured, or ask you to put more down. That's already setup of the trap. All the equity in property, you are paying other ones mortgage is a false alarm. By no mean you are paying other's mortgage (Calculate Tax , maintenance, Insurance and risk Owner's are carrying) 2 month default on rent by any renter will put them into insane amount of stress. I saw tenant who break the property put the application for immediate repair (5K ) and stop paying rent until it fixed, they are allowed to stay in Hotel in Insecure house until the things get fixed and you couldn't kick them out. So RENT if you are good renter ask for discounted rent , of be the BAD tenant and OWNER will curse to bought that property on mortgage :)
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