Etobicoke Real Estate

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Here’s what we know…

A fellow realtor we know has posted this and we agree with him….

Here is what we know:

•Properties are still being sold and contracts are still being written.

•We live in a country that has been showing great growth and migration.

•There is still an incredibly low housing inventory in the Greater Toronto Area.

•Mortgage rates are lower than they have been in years and will probably move lower.

•There is more flexibility in the offing for the dreaded “Stress Test” in Mortgaging.

•Canadian Mortgage and Housing Corporation is showing unseen flexibility in their dealings with their insured mortgages.

•Both the Canadian and U.S. Governments are making major concessions and adding programs to not only contain the virus but also stimulate the economy.

•The regular fill of our vehicle gas tank which is normally $100, was $60 yesterday.

•The Canadian Revenue Agency has moved the Income Tax filing deadline from April 30th, 2020 till June 1st 2020.

•Deadlines to pay outstanding balances to the CRA are to be extended to July 31st, 2020.

•Your RRSP and investment portfolios are down but there are some good buys to come when the dust settles and the market rebounds.

•House Sellers are unsure and want to move on with their lives creating a buying opportunity.

•Most offers are now being handled online and not face-to-face.

•We have experienced “Pre-emptive offers and multiple offers on properties” this week.

 

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