Fall is definitely upon us and I hope you are enjoying the beautiful ever-changing autumn colors and the foliage of the season.  Too scenic to pass!

This month I want to talk about the impact of the new mortgage rules set out by the government a couple weeks ago and how, in my perspective, it’ll affect the real estate market in GTA.  I don’t really have a crystal ball as this is just my prediction…I think in the short-term, next 6 months, we’ll have a slow down in sales activities because the buyers will want to wait and see how the market reacts.  However, I think we’ll still see pricing gains in Spring 2017 in GTA areas where land value is low relative to the average and the pended up demand will rise again because of the lack of supply of homes (especially detached family homes).  

As an investor, we need to prepare for any changes that make take place to the market place.  We need to be able to capitalize on any change in directions.  If the prices are not going up as fast and many homebuyers can’t qualify to buy a home, it’s time to capitalize on rental market (as they will divert to temporary renters until the market softens or when they qualify again).  When the market picks up again, maybe we need to do some buy-fix-sell deals.  We need to remain flexible and be ready to capitalize at any time and be prepared to allow for changes to your original plan of execution for your property(ies) as we ride through the market!  

If you are interested in discussing your real estate needs with CE Properties, please do not hesitate to contact us and we’ll be glad to assist you in any way we can.  Until next month, enjoy the fall season before it “leaves”!