Toronto Realty Blog

FEBRUARY 27, 2023

Thank you for taking us back to that place that we all thought we had left for good: pre-construction. about the pre-construction condo industry just as soon as this blog was launched back in 2007. Pre-construction “experts.” I started blogging (ranting?) ” Yeah. Prices are $1,200 now.”

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Toronto Realty Blog

FEBRUARY 20, 2025

In order to build a condominium in Ontario, the developer will pre-sell units, that don’t yet exist, and when a certain threshold is met (ie. 80%), one of the major banks will finance the project and give the go-ahead to begin construction. Well, the building is still an active construction site! Technically.

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Housing Wire

AUGUST 29, 2022

On top of competitive rates, getting approved for a mortgage has to be an easy and quick closing process for the customer, said Kevin Leibowitz, CEO of brokerage Grayton Mortgage. Using artificial intelligence, Bolt allows brokers to do a pre-underwrite, which an underwriter looks at within four hours or so, according to Hussam. “I

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Toronto Realty Blog

MARCH 1, 2023

These are in no particular order, other than what I think of when I really question why a condominium project might be canceled in Toronto… – 1) Zoning and approval. Remember, developers can start pre-sales before they have a final design or approval, and of course, they can always change the design.

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Realtor.com

JANUARY 2, 2023

While purchasing new construction is indeed different from purchasing previously owned property, many misconceptions abound about new builds. With that in mind, we’re here to set the record straight on some easily busted new-construction myths that just won’t quit. New construction homes are more expensive.

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The Close

NOVEMBER 12, 2024

This article breaks down seven steps to help you learn how to buy land—covering everything from the pros and cons to financing and closing the sale. Carrying costs: Land has costs without revenue, like property taxes and debt service if financed. Banks also view raw land as riskier, making financing more difficult.

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Marco Santarelli

MARCH 20, 2025

As per reports, the East Coast markets have not yet recovered to pre-pandemic levels, which keeps the market pace snappy. Here are a few key factors: Job Opportunities: Major cities on both coasts are home to booming tech and finance industries, attracting high-earning professionals. What Does This Mean for Buyers and Sellers?

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Marco Santarelli

FEBRUARY 28, 2025

I believe, and I have seen, that we need more innovative solutions, such as increasing density in transit-oriented areas and streamlining the permitting process for new construction, to address the affordability crisis effectively. But what should you actually do with this information?

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HomeLight

JUNE 27, 2022

You’re looking at new construction as an option for your new home and love the idea of buying a brand-new house that has never been lived in before. We’re going to equip you with the top dos and don’ts of buying new construction. The dos of buying new construction. Decide on the type of new construction you want.

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Realty Biz

MARCH 30, 2023

Assess Your Finances As you might assume, a good place to begin is by assessing your finances. Documentation and the Pre-Approval Process Pre-approval is a must for anyone looking to purchase a home. Be sure to have all of your documentation in order and ready to go before starting the pre-approval process.

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Mortgages Pre-approval Pre-qualification Due diligence 101

HomeLight

FEBRUARY 12, 2021

As a seller, you’re usually not taking on additional risk by accepting an offer from a buyer pre-approved for an FHA loan than you would with a buyer pre-approved for a conventional loan. Defective paint surfaces in homes constructed pre-1978. of all mortgage originations. A leaking or worn out roof.

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FHA loan Loans Pre-approval Pre-qualification 111

Realtor.com

JULY 9, 2021

The couple lived in a third-floor apartment with their two children in a pre-war building they loved on Manhattan’s Upper West Side. We kept it in the pre-war style of the building, so we maintained its spirit, but everything is modern and new.”. That’s what Praneet Gill, chief strategy officer at a tech startup, and her husband did.

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Toronto Realty Blog

SEPTEMBER 9, 2024

Developers pre-sell condominiums, to be built at a future date, and when enough of the units are sold, a bank will provide financing for the construction. I’ve said all that I have to say about the pre-construction condominium industry. Consumer appetite for over-priced pre-construction units plummeted.

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Development Pre-approval Construction Land 105

Marco Santarelli

JUNE 3, 2024

The housing market hasn't fully recovered from the construction slowdown that followed the 2008 recession. You'll need to have your finances in order, with a strong down payment and pre-approval for a mortgage. Builders are aware of the shortage and are ramping up construction. So, what can you do?

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Pre-approval Construction Mortgages Staging 105

Toronto Realty Blog

MAY 27, 2024

I want you to think, for a moment, of the Toronto real estate market and construction industry as a field of fictional Tiberium in Command & Conquer. It is 552,857 new homes constructed every year for seven consecutive years, in a country that already struggles to build half that each year. Think about that, for a moment.

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Land Pre-approval Construction Development 115

Marco Santarelli

FEBRUARY 17, 2025

Construction hasn't been able to keep up with job creation, tightening the market considerably. New Construction Lag: The construction industry is struggling to keep pace with the demand, as Zillows chief economist Skylar Olsen pointed out. Have your financing in order, and be ready to make a strong offer.

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Toronto Realty Blog

MARCH 10, 2025

Imagine that you’re purchasing a pre-construction condominium or a house that’s to be built by a developer, and these are closing well into the future. As I have mentioned many, many times before, I got into the real estate industry in 2004 when pre-construction prices were lower than comparable resale.

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HomeLight

AUGUST 31, 2021

Don’t let the pristine facade or shiny appliances of a model home deceive you: buying new construction will be as complex as any old real estate transaction, if not more so. And if you thought buying new construction without an agent would save you a few bucks in commission, think again. Assistance finding the best financing for you.

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HomeLight

JULY 25, 2022

And, even a home built with quality construction can fall into disrepair over decades or within an instant after a catastrophic weather event or other event tests or compromises its integrity. Even before the house goes on the market, some sellers pay for a pre-listing appraisal to gather information to help in pricing.

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HomeLight

AUGUST 31, 2021

If so, then the 203k loan may offer a way to finance your plans, but first, you’ll need to know both what this loan is and how to get a 203k loan. . The Section 203(k) Loan Program is a Federal Housing Administration (FHA) program that lets you finance both the purchase price of a home and the cost of repairs to the home with a single loan.

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Toronto Realty Blog

SEPTEMBER 23, 2022

Condominium cancellations were rampant in the pre-construction industry and people were starting to get pissed. Pace Developments informed her it’s cancelling their agreement from March 7, 2020, and returning Palma’s deposit even as construction on the walk-up condos continues. I mean, people were always pissed.

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Marco Santarelli

SEPTEMBER 1, 2024

Higher rates can greatly affect monthly payments and overall affordability, making it vital for buyers to pre-qualify for mortgages to ascertain their true budget. Geographical Constraints : The Bay Area's geographical layout, surrounded by water and hills, restricts land availability for new construction.

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Realty Biz

SEPTEMBER 23, 2023

Understanding the mortgage process, including prequalification and pre-approval, is also essential. Understanding the Mortgage Process When purchasing a home, understanding the mortgage approval process is essential. It is essential to prepare for the mortgage pre-approval process.

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Marco Santarelli

JUNE 10, 2024

With overall inventory still significantly below pre-pandemic levels, a true market balance may be a ways off. Embrace Patience: Don't expect a return to the pre-pandemic frenzy of bidding wars. The Power of Pre-Approval: Getting pre-approved for a mortgage strengthens your offer and demonstrates your seriousness to sellers.

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Toronto Realty Blog

JANUARY 22, 2021

Let’s rewind… Back in October of 2017, a pre-construction, stupidly-named “Museum FLTS,” was cancelled. I wrote about this on my blog: November 13th, 2017: “Another Pre-Construction Condo Cancelled. As is often the case, the buyers involved cried afoul and tried to raise a stink.

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Purchase and sale agreement Pre-approval Development Construction 72

Realty Biz

AUGUST 29, 2023

We will provide the best tips to ensure a smooth construction process. Understanding the Construction Process When embarking on the journey of building a new house, it is crucial to have a solid understanding of the construction process. Buying new construction can be exciting but quickly become a nightmare.

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Construction Inspection Design Land 92

Marco Santarelli

MAY 30, 2024

Alternative Financing Options: Exploring programs like FHA loans or down payment assistance initiatives can help bridge the gap for aspiring homeowners facing stiff competition from cash buyers. Considerations for Homebuyers: Strategic Bidding: Understanding the investor presence in your target area is crucial.

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Point2Homes

OCTOBER 19, 2021

Ideally, the property should be a modern construction, with three bedrooms and two bathrooms, in the middle to upper price range for the area it’s located in. Find Financing. Unless you’re buying your investment property with cash, finding financing can be tricky but not impossible. Sell Your Flip.

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Realty Biz

OCTOBER 24, 2020

COVID-19 included, the biggest obstacle to home ownership remains the financing. An individual who has only owned a property that was not in compliance with state, local, or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure. The down payment required is 3.5%.

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Realty Biz

AUGUST 19, 2022

Find a Real Estate Pre-licensing Course. In some states, agents get pre-licensing training courses at a state-approved school. Pre-licensing courses teach real estate, ethics, legal matters, taxes, finance, contracts, and insurance. To get a real estate broker license, they must take pre-licensing courses.

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Toronto Realty Blog

OCTOBER 15, 2024

But to suggest that investors “dictate what gets built” is a unique way of describing how condos are planned, approved, built, financed, and taxed in this city. We don’t want developers to build only small condos, even though investors are financing condo construction, and investors want smaller/cheaper condos.

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Realty Biz

DECEMBER 2, 2021

Location, neighborhood security, price, construction quality, layout, and amenities are only a few essential factors to consider. Before visiting properties for sale, get your finances in order. Can you get pre-approval for a mortgage? How to find the ideal home for your family? What is your preferred price range?

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HomeLight

MARCH 6, 2023

Other reasons most appraisals are ordered include matters related to inherited properties and sellers who want a pre-listing appraisal. If you’re a seller: If desired, you can request a pre-listing appraisal, which sellers usually pay for upfront. Is a seller’s pre-listing appraisal worth it in California?

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Marco Santarelli

MARCH 13, 2025

My advice is to do your research, get pre-approved for a mortgage, and work with a knowledgeable real estate agent who can guide you through the process. If new construction continues to lag behind demand, prices will likely continue to rise. However, if the economy weakens, we could see a slowdown in the housing market.

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Toronto Realty Blog

FEBRUARY 16, 2022

Require mandatory delegation of site plan approvals and minor variances to staff or pre-approved qualified third-party technical consultants through a simplified review and approval process, without the ability to withdraw Council’s delegation. Allow wood construction of up to 12 storeys. Another no-brainer.

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Realtor.com

JANUARY 27, 2022

So the norm was before you started searching for a house, you get pre-approved so you know your buying power. Now, what we’re telling all of our clients is don’t just get pre-approved. Go all the way through underwriting and get a conditional approval. But at the end of the day, it’s construction.

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Toronto Realty Blog

DECEMBER 19, 2023

So without further adieu, here are the “Top Five Real Estate Stories Of 2023” as I see them: #5: Condos, Development, & Pre-Construction This “theme” or story has far-reaching implications; at least more so than what you might conclude simply from the title. Pre-Construction. Development.

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