Happy New Year 2023!
Welcome to the Urbaneer.com Blog where we’re committed to creating relevant engaging housing, design, and culture content specific to Toronto, Ontario, Canada!
If you’re like us, the arrival of a New Year invites us to get on board with optimism, opportunity, and the promise of fresh beginnings. But before we push the Start Button to that ride we’ll be using these first few weeks to reflect, review, revise, and refine our practices, programs, and processes in order to respond to the shift in the market. After all, when your business is the shelter industry and your clients are seeking counsel and clarity on real estate specific to their unique requirements…. well, there are a lot of factors at play. With over 3 decades of experience, we analyze the past, strategize the present, and chart a course to navigate our clients into their future.
That’s the Urbaneer way.
In that spirit of constructive contemplation – and to kick off 2023’s inaugural month – here is our annual Top 5 Most Popular Urbaneer Posts from 2022, which span the gamut from Canada’s housing policies and troubling financial trends, to prudent property purchasing advice and my own personal reflections on a career now 32 years strong.
#1
In 1991, when Torontonians were processing the sobering reality that just 18 months earlier the city’s hotly inflated and highly speculative housing market burst in an exhaustion movement, I embarked on a career in real estate, housing & home. Crazy, right? Since then, I’ve weathered the ups and ups of the Toronto real estate market for over 30 years, providing a unique perspective and a wealth of knowledge only the most seasoned of realtors could know. From this lens I recount the lead-up to the 1989 real estate bubble that burst and the subsequent repercussions and recovery, including drawing some parallels to the 2022 Fall Toronto Real Estate Market. This ‘first person retrospective’ received a lot of traffic, and reaffirmed how important people value insight and experience.
#2
57 Offers On A Scarborough Bungalow Signals Demand Still Strong For Toronto Real Estate
If there’s one truth to real estate, it’s that the market changes every day. So, after a tepid summer of wary uncertainty, when the value and volume of real estate sold began its decline, come September we were gobsmacked when our Buyer found herself being one of 57 bidders for a mid-century bungalow in Scarborough. Srsly?! The truth is, a detached 3bed residence with private drive and partially-finished lower level located in a desirable neighbourhood listing offered at a ‘too good to be true’ sum will always garner attention. But why all of a sudden? Pop onto this blog for insights on the shifting state of a real estate market in motion!
#3
Turning A Blind Eye To The Real Costs Of Toronto Real Estate Investment Properties
If you have an interest in real estate investment, or are curious about the way housing market trends can shape property investment portfolios, this post is for you. Starting with the foundation of real estate, whereby your return on investment (ROI) is the total sum of your initial investment + the increase in net equity annually + a cash flow, this post questions the risks of negative carry while banking on future price gains, which is why those who engage in the market this way are called speculators rather than investors. And because a significant percentage of pre-construction condo investors fall under this definition, in this post I query how many of them could weather a storm not knowing the Bank of Canada would subsequently increase interest rates 7 times in 9 months a total of 400 basis points. Secure your seat belts folks! This could be a bumpy ride!
#4
How Canada’s 3 Levels Of Government Shape Housing Policy & Programs
We had a great response to this post about government, and how each level shapes housing policy and programs in the City of Toronto. With a provincial election this past summer, each political party campaigned heavily on promising affordable housing solutions, but making this happen is not limited to only this tier of government. It is the shared responsibility of all three levels of government, meaning the municipal and federal jurisdictions have to be actively engaged and committed in creating sufficient housing supply. This post explains it in more detail, but if you want to round out your knowledge base… Psst!… you also might like this one: Dear Urbaneer: What’s Being Done To Create Affordable Housing In Toronto?.
#5
Dear Urbaneer: Does It Make Sense To Buy A Home In A Declining Market?
As part of my Dear Urbaneer series I offer guidance to a reader with a young family who will soon be relocating to Toronto. Given the current concerning economic strains and stressors – and a bleak forecast to boot – they pick my brain regarding prudent purchasing strategy and how the timing of their imminent move might inform their decision to either buy or rent by asking: “Given the current dynamics of the market with interest rates rising and prices dropping, we are wondering if we are better off seeking a rental in an area that would have us in a reputable public school catchment, or if we should take the plunge and buy a home. We hear rentals are expensive and sometimes rare in established neighbourhoods which could present some challenges, but what if I buy a home now and it slides in value? There is a lot of talk about an imminent recession. When is the right time to buy?”. Read on for my answer!
…And that rounds out the Top 5!
Can I take a moment to confess to you that I LOVE what I do?
Ever since I was seven years old I knew my future was in housing and helping others. And now, in my 50s, I’m so grateful for our amazing existing clients, and to welcome new ones too! Along with advising, supporting and gently steering Buyers and Sellers, my team and I are here to explore, question, and educate – which is why our blog explores current events, the evolving housing ecosystem, and competing interests as they shape market dynamics.
As the Toronto real estate market shifts due to Rising Interest Rates and I provide Topsy Turvy Insights From The Toronto Real Estate Trenches I hope you follow our Urbaneer Blog as 2023 unfolds. We’re committed to providing relevant information and poignant insight from a foundation of experience.
As we like to say –> We’re here to earn your trust, then your business.
Sincerely
~ Steve & The Urbaneer Team
We are so grateful to be part of the Toronto real estate industry! Thank you for your continued trust and business!
The Urbaneer team makes it our mission to guide you from your first to final purchase, plus any property in between. Along with educating, advising and gently steering you, our mandate is to identify the best locations and properties within your budget and recommend the appropriate dwellings that offer the best opportunity, whether it’s as a personal residence or part of your investment portfolio.
Thinking of selling? At Urbaneer.com, we take great pride in offering you our insight and guidance to make your property the most ‘sellable’ it can be. Offering a comprehensive sales and marketing program including print ads, direct mail flyers, and a multi-faceted social media program, we also offer a design service, access to contractors, and a warehouse of home furnishings available as part of our competitive listing commission. We are your one-stop real estate boutique that will pull out all the stops to enhance your property and attain top dollar.
With decades of experience navigating the ever-changing Toronto real estate market, a commitment to promote the sale of properties like yours with interesting and relevant information, and the ability to guide Buyers with credible insights and well-informed guidance, we are here to help without pressure or hassle.
Thanks for reading!
-The Urbaneer Team
Steven Fudge, Sales Representative
& The Innovative Urbaneer Team
Bosley Real Estate Ltd., Brokerage – (416) 322-800
– we’re here to earn your trust, then your business –
Celebrating Twenty-Eight Years As A Top-Producing Toronto Realtor
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