Broadview Table Talks: Toronto Real Estate Podcast Kenneth Yim from Broadview Avenue Group Toronto

There are lots of complexities in Toronto's real estate market. Let’s discuss the latest trends, market statistics, and strategies for both buyers and sellers. From rising mortgage rates to the increasing inventory that signals a buyer's market, find out how to navigate these challenges and make informed decisions in today's economic landscape.

Here’s my take on the new capital gains inclusion rates in the 2024 Canadian federal budget. As much as I want to talk about the politics of it all, I will hold back. There’s no sense complaining about it, because that will change nothing.

Rather, let’s look at how it will impact your real estate strategy, and what you can do about it.

Watch this podcast on YouTube: https://youtu.be/C6zFAzWvuEU

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments
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As we navigate these uncertain times, many are finding their pre-purchased condos aren't appraising at expected values. With the market down, you're faced with two choices. First, you could assign your property, selling your agreement to another buyer before closing. It might seem like an easy out, but with assignments stalling in the current market, finding a buyer willing to take over at a big profit is tough. Alternatively, you could close on the property, taking on monthly losses due to negative cash flow. This is a gamble, betting on the market's eventual recovery. Remember, closing means committing to years of potential financial strain unless the market swings back. The root of this dilemma? A market boom driven by low interest rates during the pandemic, leading to high purchase prices now misaligned with current values. Whatever path you choose, it's a decision weighed heavily by the market's unpredictable nature.

Condos are great, but their value largely depends on market trends, which we've seen can fluctuate drastically. If rates go up, then suddenly your investment's worth drops 15-20%.

With commercial real estate, you have more control. By increasing the property's net income through rent adjustments or renovations, you directly impact its value, no matter the market situation.

Let me walk you through an example of a property that you can increase the value by 1.5x almost instantly, just by doing some minor tweaks to increase the net operating income.

Listen to the whole podcast and learn how the latest economic trends, including Bank of Canada's interest rate adjustments and the impact of price stability on inflation, are shaping investment opportunities. Learn how buyer attitudes are affected by economic trends and how limited new construction predicts future market changes.