Mike Lende

Condo sales across the GTA and Hamilton area continues to struggle with sales in Q2 down 70% from the 20-year average and 66% from Q2 in 2023. Out of all of the launched presale units in 2Q2024, only 17% sold! Due to the lack of sales, there are now over 25,000 units for sale – it seems sellers have not adjusted their expectations down to where demand sits. There are an estimated 10,000+ units being completed in the second half of this year, adding to the supply-demand imbalance. From the Globe and Mail: “In Toronto, the average price per square foot was $1,529 in the quarter ended in June, according to Urbanation. That is more than double the $606 price per square foot in 2014. In the regions surrounding the city, the average price per square foot was $1,153 in the second quarter of 2024, compared with $484 in 2014.” Would you pay over $800k for a 550-sq. ft. condo? To me, that’s a tough value proposition. If you had 20% to put down on that condo, say you got it for $800k even, your mortgage would be $640,000. At 5%, that puts your monthly payment at over $3,700. Plus condo fees, plus taxes, plus…etc… you’re well over $4,200 per month. Compare that to the average monthly rent of a one-bedroom of ~$2,500. The natural justification is that you’re not building any equity while your rent. Note that almost ¾’s of your mortgage payment goes to interest, not equity, for the first 10-years. For renters, you can take that difference ($4,200 - $2,500 = $1,700/mo.) and save/invest it. This simply suggests that prices at these levels are tilting the math towards renting.

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WHAT is a PROFORMA? "Coaching you through the Real Estate process." Andrewjoseph.ca #calgaryrealestate  #commericalrealestate #multifamilyinvesting #realestateinvestingforbeginners

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Home for All: Fostering Affordable Housing Solutions in Edmonton #realestate #realtor #dreamhomes #homebuyers #realestateagent #homesofinstagram #properties #homesearch #realestateinvesting #housingmarket

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CMHC's new investor loan program sounds amazing... But when you dig a bit deeper and look at the requirements, from an Ontario perspective, it doesn't make a lot of sense 🤷‍♂️ What are your thoughts? 👇 #cmhc #ontariorealestate #investmenttips #investmentplanning #propertyinvestment

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ARE you looking for a solution?🤔 GIVE me a call 403.466.6755 "Coaching you through the Real Estate process." Andrewjoseph.ca #RealEstate #HomeForSale #PropertyInvestment #HouseHunting #DreamHome #RealtorLife #LuxuryLiving #NewHome #JustListed #RealEstateAgent #OpenHouse #HomeSweetHome #RealEstateLife #HouseGoals #FirstTimeHomeBuyer #RealEstateInvesting #HomeBuyers #PropertyForSale #RealEstateMarket

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Calgary Real Estate Market Update🏠-JUNE 2024 ⏬️ Low inventory ⏫️ Higher prices. "Coaching you through the Real Estate process." Andrewjoseph.ca #calgaryrealestate #realtor #realestate #calgaryrealestatemarket

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JUST a short list of things to consider when looking at an investment property... "Coaching you through the Real Estate process." Andrewjoseph.ca #realestateinvesting #realestate #realestateagent #realestateinvestor #realtor #realestatelife #property #investment #realtorlife  #househunting   #investmentproperty #forsale #realestatetips  #home #realestategoals #homesweethome #homesforsale   #investing #realestateinvestment #newhome #propertyinvestment  #entrepreneur #realestateexperts #realestateinvestors

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www.mapbookprogram.ca The New Year is right around the corner, are you motivated and driven to make 2025 your best year in your Business, Relationships, Finances and your connection with God 🙏🏿 find time on your calendar to Set up a 45-Minute Free mind MAP session to have clarity on your goals and be held accountable to achieving them. #theMAPbook 🔌 Message or Dm me “MAP” #findingpurpose #soulawakening #goalsetting #universallaw #subconsciousmind #lawofattraction #lawofaction #motivatedmindset #successmindset #personaldevelopment #increasesales #soulsearching

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Some really great perspective from Jason on the housing price question. It's the subject matter that has so many of us confused, but as Jason suggests, go to the historical data and run the numbers against the current market. It's not science or magic, it's the real picture and it's the one we all want to find ourselves in, I'm positive. Great insights as always Jason, thanks! #RealEstateProfessional #NiagaraRegion #RealEstate #Interview #HousingPrices #LongTermInvestments

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A Home Equity Line of Credit (HELOC) lets you tap into your home's equity, providing flexible access to funds when you need them. 💳 Wondering if a HELOC is the right choice for you? Reach out to learn more! 💬

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A Home Equity Line of Credit (HELOC) lets you tap into your home's equity, providing flexible access to funds when you need them. 💳 Wondering if a HELOC is the right choice for you? Reach out to learn more! 💬

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Dreaming of a home renovation but concerned about the costs? There are plenty of financing options to help you transform your space! 1️. Mortgage Refinancing: Tap into up to 80% of your home's value by refinancing your mortgage. 2️. Purchase Plus Improvements (PPI) Mortgage: Bundle renovation costs into your mortgage when buying a new home. 3️. CMHC Mortgage Loan Insurance: Add renovation expenses to your mortgage with as little as 5% down. 4️. Line of Credit or Home Equity Loans: Use your home’s equity for a flexible renovation fund. Contact me to explore the best financing option for your renovation!

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Rent Increases in Edmonton Begin to Ease #realestate #realtor #dreamhomes #homebuyers #realestateagent #homesofinstagram #properties #homesearch #realestateinvesting #housingmarket

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https://lnkd.in/ejwD8D-z Turn rundown properties into $20k monthly profits! 💸🏡 Learn real estate wholesaling and make smart investments with this simple strategy. #RealEstateCanada #PropertyInvesting #InvestmentTips #PassiveIncome #WealthBuilding #CashFlow #FinancialFreedom #PropertyDeals

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While Realtor.ca is Reilly’s main source for real estate leads, his real secret weapon is social media videos. Discover how these powerful videos are helping him connect with clients and close more deals. If you're a realtor looking to up your marketing game, don’t miss this insight! Check out the full podcast airing on YouTube or Spotify Thursday!!

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🏠💸 Why Real Estate is AWESOME!  Long-term appreciation🚀  Rental income 👶 Tax benefits 💸 Leverage 💸 Diversification 🎯 Invest today and build wealth for tomorrow! 📈 "Coaching you through the Real Estate process." Andrewjoseph.ca  #RealEstate #Investing #WealthBuilding #RealEstate #Investing #WealthBuilding #HomeSweetHome

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