Real Estate

Market Value: Big interest in bungalows

19/11/2023

One-storey living provides a wide variety of options in Edmonton.

Published Nov 17, 2023  •  3 minute read

This two-bedroom bungalow in Ottewell, Edmonton, is priced at $589,900. Courtesy, Royal LePage Noralta Real Estate jpg

Often considered the most affordable of single-family detached homes, these listed houses show the variety of the once widely popular housing type.

They’ve sort of got a funny name and, of course, that stereotypical one-floor layout.

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And bungalows — deriving their name from the Hindi word “bangala,” meaning belonging to Bengal — are indeed abundant to anyone familiar with Edmonton’s older neighbourhoods.

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Real Estate

High interest rates slow Sarnia-area home sales in August

12/09/2023

There were 116 real estate sales locally last month, the fewest in August for the last decade, according to the board’s monthly statistics.

Published Sep 11, 2023  •  3 minute read

A for sale sign is shown outside a house on Sarnia’s Graham Coughtry Court. Photo by Paul Morden /The Observer

The Sarnia-area’s real estate market felt the impact of high interest rates in August, says the president of the Sarnia-Lambton Real Estate Board.

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There were 116 real estate sales locally last month, the fewest in August for the last decade, according to the board’s monthly statistics.

A slowdown was typical during August before the pandemic, “but obviously for the last two or three years, nothing has been typical,” said board president Rob Longo.

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Real Estate

Don't Worry About Interest Rate Hikes

15/07/2023

Our experts answer readers’ investing questions and write unbiased product reviews (here’s how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own.

  • Brenda Stroud has been buying real estate since the early 1990s.
  • She’s learned not to let factors outside of her control, like interest rates, affect whether or not she buys property.
  • Stroud also explains why she likes 5-year adjustable-rate mortgages.

Real estate investor Brenda Stroud isn’t one to sit on the sidelines during a high-interest rate environment.

She’s already done four real estate deals in 2023 and has two more under contract.

“You can’t have a doomsday mindset or attitude about things you cannot control,” the 55-year-old told Insider. “This is part of the business. Real estate is a risky business.”

Stroud bought her first home in the early 1990s. She was working as

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Real Estate

Real estate: Can I just pay interest on my mortgage?

24/06/2023


Some Canadians have extended the amortization period on their mortgages, and real estate experts say it could bring uncertainty for renewals.


Amortization refers to the time it takes to pay back a mortgage. As elevated interest rates hit the housing market, some people have been have been extending their amortization period out several decades and are only paying interest on their homes.


Daniel Vyner, the principal broker at DV Capital, said in an interview with BNNBloomberg.ca Monday, the trend points to potential default risks and problems for some buyers.


In his view, variable-rate mortgage holders with fixed payments are nearing, or have already hit their trigger rate, which refers to when a homeowner’s mortgage payment is not sufficient to cover the interest accumulated since their last payment. 


“These extended amortizations, this is really just a temporary Band-Aid solution, which in my view is preventing

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Real Estate

Latest interest rate hike jolts Toronto real estate market

14/06/2023
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A house for sale in Toronto’s Cabbagetown neighbourhood.Ammar Bowaihl/The Globe and Mail

For many buyers and sellers immersed in the spring rejuvenation of the Toronto-area real estate market, the Bank of Canada’s recent interest rate hike came as a sudden jolt.

The central bank’s rate-setting committee raised the benchmark rate by 0.25 points to 4.75 per cent in June after recent data showed the country’s economic growth was surprisingly robust in the first quarter. The Bank of Canada had paused a series of rate hikes earlier this year as the rate of inflation fell towards its target rate of two per cent but it has remained stubbornly high.

Industry professionals say calls flooded in from potential buyers, investors and existing homeowners as they grappled with the possible repercussions. Showings also slowed down in the days after the announcement as aspiring buyers absorbed the news,

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