18 | June 2024 Industry and Life Updates
The Real Estate Compass Podcast
by Real Estate Compass Podcast
1M ago
Key Topics Discussed: Detached Market Update Current Average Price: $605,300 (up 9.5% from last year) Sales: 3,092 (down 0.8% from last year) New Listings: 4,333 (up 18.7% from last year) Inventory: 3,402 (up 5.9% from last year) Days on Market: 19 days (20.2% decrease from last year) Interest Rates Current Rate: Dropped to 4.75% from a higher rate Impact on Buyers: With the drop in interest rates, more buyers who were waiting for lower rates are now entering the market. Increased buying power for new buyers leads to higher bids in multiple-offer situ ..read more
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17 | The Essential Roles of Your Realtor When SELLING
The Real Estate Compass Podcast
by Real Estate Compass Podcast
1M ago
Introduction: In this episode, we delve into the multifaceted role of a realtor in the process of selling your home. From market analysis to post-sale assistance, a skilled realtor can make all the difference in ensuring a smooth and successful transaction. 1. Market Analysis: - A thorough market analysis is crucial in understanding current market conditions, comparable sales, and pricing trends. - It helps determine the optimal listing price for your property, setting the stage for a successful sale. 2. Preparing Your Home: - Your realtor should offer valuable advice on preparing your home ..read more
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16 | The Essential Role of a Realtor in Your Home Buying Journey
The Real Estate Compass Podcast
by Real Estate Compass Podcast
1M ago
Introduction: In this episode, we delve into the pivotal role of a realtor in the home buying process. From understanding your needs to post-sale support, we explore how a good realtor can guide you through every step of the journey, ensuring a seamless and satisfying experience. Key Points: 1. Understanding Your Needs: - A good realtor takes the time to understand your specific requirements, including budget, location preferences, desired features, and other criteria crucial to your home search. 2. Finding Suitable Properties: - They actively search for properties that align with your crit ..read more
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15 | The Government Taxing "The Wealthy" & First Time Home Buyers Initiatives
The Real Estate Compass Podcast
by Real Estate Compass Podcast
1M ago
Podcast Show Notes: Episode 12 - First-Time Homebuyer Initiatives & Capital Gains Tax Changes Welcome to Episode 12 of our podcast, where we dive into the latest updates impacting first-time homebuyers and significant changes to capital gains tax. Today, we'll explore how these policy shifts are designed to ease the path to homeownership and what the new capital gains tax means for property sellers and investors. First-Time Homebuyer Relief: The federal government has unveiled measures aimed at easing the financial burden on first-time homebuyers. Effective August 1st, 2024, eligible buyer ..read more
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14 | What to Understand as a Non-Resident Seller
The Real Estate Compass Podcast
by Real Estate Compass Podcast
1M ago
Navigating Property Sales as a Non-Resident in Canada *Welcome to the latest episode of Real Estate Insights! In this episode, we cover key updates on the current interest rate announcement, explore the challenges of selling property in Alberta's competitive market, and provide a detailed guide for non-residents selling property in Canada.* **Interest Rate Announcement:** - The Bank of Canada has maintained the overnight rate at 5%. - Inflation remains high, impacting market conditions across various provinces. Notably, Alberta continues to experience a strong sellers' market.- Inventory ..read more
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13 | Blanket Rezoning & March 2024 Market Stats
The Real Estate Compass Podcast
by Real Estate Compass Podcast
1M ago
Comprehensive Rezoning Proposal in Calgary Overview: - The upcoming City Council session on April 22, 2024, marks a pivotal moment as the Council deliberates on a proposal for comprehensive rezoning in Calgary. - The proposed rezoning aims to redefine residential zoning regulations, potentially permitting row houses and townhouses in areas currently designated for single or semi-detached homes. - If approved, this initiative would streamline the development process by eliminating the need for individual public hearings for such projects before the Council. **Context:** - The proposal for com ..read more
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12 | Navigating Divorces with Real Estate
The Real Estate Compass Podcast
by Real Estate Compass Podcast
1M ago
We delve into the complexities of navigating divorces, particularly focusing on the pivotal step of selling your home amidst this significant life transition. Today, we'll explore key considerations and practical steps to ensure a smooth process from consultation to possession day. 1. Consultation with a Family Lawyer: Initiating the journey of divorce requires legal guidance. A family lawyer will kickstart the process by assisting in drafting a separation agreement. 2. Understanding Financial Obligations: Gather essential documents such as title/mortgage statements to gain clarity on finan ..read more
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11 | Impending Changes in Real Estate Commissions: A Canadian Perspective
The Real Estate Compass Podcast
by Real Estate Compass Podcast
1M ago
Introduction: Mention recent developments in the Canadian real estate landscape regarding potential class action against NAR & CREA. Highlight accusations of price fixing, collusion, and anti-competitive behavior. Emphasize the significance of potential changes in commission structures. Main Points: Legal Action Against NAR & CREA: Overview of the class action alleging price fixing, collusion, and anti-competitive practices. Explain the potential implications of this legal action for the Canadian real estate industry. Decoupling Commissions: Discuss the possibility of decoupli ..read more
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9 | February 2024 Market Update
The Real Estate Compass Podcast
by Real Estate Compass Podcast
4M ago
Real Estate Market Insights + Bank of Canada Interest Rate Announcements Introduction: - February was a bustling month in the real estate market, with new listings and sales making significant moves. - Despite challenges, the market saw remarkable growth and shifts, impacting both buyers and sellers. Overall Market Trends: - New listings surged to approximately 2,711 units, igniting further sales activity. - Sales skyrocketed by nearly 23 percent compared to the previous year, totaling 2,135 units. - The sales-to-new listings ratio remained impressively high at 79 percent, indicating a tight ..read more
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8 | Learn How To Cashflow $4K a month - CMHC MLI
The Real Estate Compass Podcast
by Real Estate Compass Podcast
4M ago
CMHC MLI Select Program Program Overview: Purpose: Promoting the development of rental housing by providing financing and insurance for large-scale projects. Target: Developers or landlords investing in rental properties. Eligibility: 1. Minimum 5 residential units (including legal basement suites) per property. 2. Can be applied to new construction or existing properties. 3. Buyer's net worth must be at least 25% of the loan amount, with a minimum of $100,000. Benefits: 1. Low Down Payment: Only 5% down payment required. 2. Long Amortization: Up to 50 years based on a point system. 3. Posit ..read more
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