Sold in the 6ix - Toronto Real Estate
Sold in the 6ix is your insider connection to the ever-evolving Toronto real estate scene, hosted by Desmond Brown from RE/MAX Hallmark. This podcast is a treasure trove for anyone involved in the Toronto real estate scene. Whether you're stepping onto the property ladder in Ontario's vibrant GTA, looking to invest in the market, a realtor yourself, or simply fascinated by the unique homes that dot the 6ix. Desmond, a seasoned Toronto realtor, taps into his vast network to bring listeners exclusive insights, blending his real estate prowess with the latest market analyses and trends.
What sets Sold in the 6ix apart is the unique access Desmond provides to a roster of industry insiders and experts, enriching the conversation with a diverse range of perspectives on sales, mortgages, and investing strategies. As a listener, you'll get an insider's perspective on how to navigate the complexities of the Toronto real estate market, from securing your dream home to optimizing your investment portfolio. With advice rooted in the comprehensive seller services that RE/MAX Hallmark is renowned for, this podcast is an essential listen for anyone interested in understanding or entering the competitive world of Toronto real estate.
Sold in the 6ix - Toronto Real Estate
The Impacts of Higher Interest Rates Being Felt Right Now in Toronto Real Estate
Higher rates have slowed overall sales but prices in markets like Toronto have increased by about 3% since last year.
Those not buying or selling but whose mortgages are up for renewal are facing challenges, with some being forced to sell or risk losing their homes.
In this episode Des and Jason Georgopoulos of Dominion Lending Centres discuss strategies for managing these tough times, including re-amortizing mortgages to 25 or 30 years for lower payments, taking out short-term second mortgages, and using lines of credit for interest-only options.
They also discuss the power of sale proceedings in Canada, where banks sell properties for homeowners in arrears, and the potential for interest rate relief in the near future.
Listen For
3:33 The Impacts of Rate Increases on Homeowners
5:37 Forecast of Mortgage Renewals and Market Impacts
16:50 Strategies for Managing Higher Interest Rates
Guest: Jason Georgopoulos, Mortgage Broker
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Recorded in Sep 2023
