Patrick Kavanagh KRI Property Group

Canadians became less confident this month about housing and prospects for the economy amid the troubles of a Toronto mortgage lender , according to telephone polling . The Bloomberg Nanos Canadian Confidence Index fell to 58.5 in the week ending May 26. That’s down from 59.4 at the end of April, the first monthly decline in four. The share of respondents who felt home prices would rise dropped to 45.5 percent, from a record 50.1 percent this month . Sentiment has suffered after mortgage lender Home Capital Group Inc. sought refinancing after a run on its deposits, and Moody’s Investors Service downgraded Canada ’s largest banks. Toronto’s market has also shown signs of cooling after Ontario Finance Minister Charles Sousa imposed a foreign buyer’s tax to clamp down on speculation. “Recent declines in consumer confidence scores were most likely to be driven by a cooling of real estate sentiment after hitting a high in early May,” Nanos Research Group Chairman Nik Nanos said...

Income properties near a Whole Foods are a safe bet, and other guides for investing.  ome people have certain criteria when they search for real estate deals , such as a 6 percent or 7 percent cap rate, or that each unit has to be under $100K. I don’t use any specific thing to tell me whether to go into a deal or not. What criteria should you use? My personal criteria begins with a G. Is it a Grant deal ? Each Monday on Grandparent I’m doing a real estate show to answer your questions and detail all of my deals so you can learn more about investing in this space. Here are some tips for you today: 1. Don’t believe the pro forma. Many brokers will give you a thing called a pro forma assuming 3 percent rent increases a year. Pro forma is about the future, but nobody has a crystal ball. If you think it, then you don’t know it . If you are into astrology, don’t do real estate. You’ll need every zodiac sign for it to work for you. In reality, I don’t even look at the pro ...

Bathrooms are often a top priority for a home renovation, and with good reason. According to US-based real estate agent Katharine Tucker man , when it comes time to resell, a “ bathroom can make or break a deal .” In an older building especially, a new bathroom can be a sign of the property’s overall condition and is “a load off for buyers psychologically”. Conversely, she explains, “a bathroom that needs renovation tells a buyer that perhaps the plumbing needs updating as well ,” and may trigger money-pit anxiety. Katharine shares her tips for a bathroom renovation that will see a resale return and might even prompt a bidding war! Double sinks   Any couple that has jockeyed for one sink during the morning rush knows that double sinks are a master-bathroom “must ”. Katharine confirms that they are a huge selling point for buyers . As one of Katharine’s clients puts it, “A second bathroom may not save a marriage , but a second sink will!”   Wainsco...

Summary Home prices have seemingly detached from all historic indicators and correlations. Income growth is falling as home prices are rising. Supply of homes is historically low and the volume of home sales is plunging to 2006-2007 levels. In a world of global stimulus, does it matter? Will home prices eventually return to reality or has real estate been permanently inflated? This week has been filled with economic data pertaining to Real Estate. On Tuesday, FHFA House Price Index, Case-Shiller Home Price Index and New Home sales were released. My analysis showed a mixed bag and not much deviation from the trend I've tirelessly been pointing out of record low supply driving prices to artificially high levels . Prices are rising in an unsustainable fashion . I will run through all the data as I normally do but focus on the question as to whether the Federal Reserve and Central Banks alike have changed the dynamic of asset prices forever or if prices will correct and ...

Starting Monday , home buyers in Ontario will have to provide more information about their citizenship and place of residence when they buy a piece of real estate anywhere in the province. The government first announced the news in last fall's economic statement, but the new rules come into effect on April 24. Starting then, anyone who buys a piece of land in the province that contains between one and six single-family homes — or agricultural land — must fill out the Prescribed Information for Purposes of Section 5.0.1 Form — one more piece of paper in the sea of red tape associated with real estate. The form will be incorporated with documents that govern the payment of land-transfer taxes, which is a tax everyone in the province must pay when any property changes hands. (First-time buyers, however, don't pay the tax on the first $368,000 of a home's purchase price and can receive a rebate of up to $4,000 after that.) How it works: explaining Toronto's land ...

Sale of stake in Wired Score is part of effort to divest himself of many business ties  Jared Kushner , a senior level White House official and son-in-law of President Donald Trump , is in talks to sell his stake in a real estate technology company as he attempts to pare his numerous business ties, according to a report by the Wall Street Journal. He is in the late stages of negotiating a deal to sell his stake in the company, called Wired Score , to a group of investors that include Los Angeles-based Fifth Wall Ventures, the Journal said. It was unable to determine the price of the stake or the identity of other group members. Kushner is working to exit other business investments as well, as the Trump administration faces criticism for not doing enough to rid its senior officials of potential conflicts of interest. He disclosed earlier this year that his stake in the Wired Score was worth $5 million to $25 million . Founded in 2013, Wired Score assesses the speed an...