Real Estate, Interest Rates, and Market Reality: Why It’s Time to Take a Deep Breath + MORE Aug 7th

Owning a home comes with a long list of expenses that go beyond a monthly mortgage, whether that’s replacing an old roof, paying for home insurance, or keeping up with climbing property taxes. While many costs are fixed, experts say there might be some wiggle room on property taxes to get the amount lowered or a potential refund. But first, you need to know if there is merit for an appeal.

“Taxes are one of the biggest expenses associated with owning property,” said Raymond Williams, vice-chair for the Ontario chapter of the Canadian Property Tax Association. But he said: “It’s important to know that it can change, you can reduce them, and it’s just being aware of all the programs and options available.”

Watch for property assessment errors

Williams said every homeowner should periodically check their property taxes for any factual errors, such as the wrong lot size that their home was assessed on, or surprise tax increases. “If suddenly there’s a large jump in your taxes, chances are something changed on the assessment,” Williams said…

Federal programs, mortgage-insurance rules and provincial tax rebates use different definitions, meaning previous ownership does not always disqualify a buyer.

DLC Group CEO Gary Mauris explains how the acquisition came together and responds to concerns about competition after two major mortgage submission platforms came under common ownership.

Lately, whenever I talk to clients, friends, or family across Ontario, I hear the same thing: people are anxious. They’re worried about where interest rates are going, what their homes are worth, and how they’re going to handle their upcoming mortgage renewals.

There is a lot of noise out there right now. Headlines are designed to panic you, and constant political changes don’t help. My goal here is simple: to give you the straight facts, share what I’m seeing after over 35 years in this industry, and help restore a little calm.

Rule #1: The 7-Year Real Estate Rule

If you take only one thing away from this article, let it be this: A home should always be purchased with the plan of holding it for 7 years or more.

I have been saying this to my clients for over three decades now. It was true in the 1990s, it was true during the 2008 financial crisis, and it is 100% true today.

Real estate is not a day-trading stock. Trying to time the market over 12 or 24 months is a recipe for stress…