Monday, January 27, 2020 / by Brian Khatambakhsh
Happy New Year To All!
Hello, this is Brian Khatambakhsh, Team lead at Khatambakhsh real estate team and www.BrianSoldGuarantee.com
First of all, I'd like to wish you and your family Health, Happiness, and Prosperity throughout 2020!
Our January Real estate newsletter is ready and mailed out to our subscribers. This edition, as always, is filled with local Real estate market stat, information, and offers.
Over the Holidays, I have been asked about the Real estate market and what we should expect in 2020.
Is it a good time to buy, or sell?
While no one can be certain of the future, there are some indicators which we always monitor that can give us a decent prediction of the real estate market.
Here is a look at some of these indicators.
The vacancy rate is the number of vacant homes for rent in the marketplace? A low vacancy rate is an indication of high demand in the market and a high vacancy rate means excessive inventory, and a reason to worry for landlords.
Current vacancy rate is at all times low. Rental market is very hot and landlords get multiple offers for rental units, especially condo apartments. So it is fair to say that it's a great time to buy investment property to rent.
In terms of buying, The Mortgage rates are lower compared to the beginning of last year, that certainly helps with affordability and cash flow.
Additionally, the Stress test that had slowed down the market since April of 2017, has been absorbed and normalized.
Some experts say that the GTA real estate market has had a soft landing.
These and other indicators, predict an stable real estate market with healthy growth of 3 to 5 percent over the next year.
My personal advice is that if you are buying a home for primary residence, make sure you purchase something that you can comfortably afford.
This way, especially the first time buyers, can get into the market and start building their equity over time and move up to a larger home when they are ready and the time is right.
If you are buying for investment, be selective! Location, Price and home type is critical to your success.
Do your homework, get help from an experienced real estate agent who knows the market in your area, who can;
- help you review your current situation,
- run an equity diagnostic on your primary residence
- and together with the help of a good mortgage broker identify the best financing options for your investment
Back in November of last year, our team together with our mortgage broker and financial advisor, hosted an investment seminar which attendees found it to be very informative and useful.
As mentioned in the newsletter, we are planning to hold a few more real estate seminars in the next few months on different topics for first time buyers, investors, downsizer, move up buyers and so on. In the next few weeks, seminar details will be posted on our events website at www.Khatambakhsh-Events.com
I also would like to take this opportunity to say THANK YOU to our clients and their referrals who gave us the opportunity to help them buy or sell real estate, or do both, in 2019.
Because they chose us as their realtors, we were able to make additional donations to TWO non-profit community organizations in Mississauga. You may know already that a portion of our income on EVERY home sale is donated to the Dam youth drop-in center as well as the Mississauga food bank.
So far, our past clients and their referrals have helped us donate over $8,000 to the dam youth drop-in center as well as donating equivalent to 4,000 meals to the Mississauga Food Bank!
With your help, we will continue our partnership with these two great organizations in the fight against hunger and exclusion in our communities.
Please let us know if we can help you or anyone you know who is thinking of buying or selling in 2020. We are never too busy for you and your referrals.
If you would like to receive our monthly newsletter in the mail, please contact our office at 647-848-2652 or send an email to info@BrianSoldGuarantee.com.