In today's episode of Building Wealth Brick by Brick I'm unpacking the BoC's July 24th rate announcement. Helping me is none other than award-winning mortgage expert Sean Humphries of Dominion Lending Centres.

Key Points:

• July 05 marks the first rate cut in 4 years
• July 24 represents the 2nd cut in as many months - Brings overnight lending rate down to 4.5%
• June market stats - Available Listings Up 67%
• Average Sales Price Down slightly by 1.6% Year Over Year
• Prices Stablizing
• MOI - Months of Inventory Hovering Around 4% - Lots of Inventory
• Fewer Buyers = Low Demand
• 2 Rate Cuts Bring Another Shift
• Inflation Down to 2.7% - Closer to the BoC target rate
• Next Rate Announcement Sept 4th - Another Cut???

We are heading in the right direction!

Exclusive invitation -RSVP 👉🏼 Navigating Shifts - In-person Seminar July 31 2024 7pm in Etobicoke (Kipling/Dundas). Refreshments served and all attendees will receive an e-gift card after the event. You don't want to miss this.

Helping you increase wealth through #realestate

Book a time for a quick 15min Chat - Discovery: https://calendly.com/thecondowiz/15min
Social:
https://linktr.ee/nicojamesbock

Investing in Preconstruction in this economy is one of the best ways you can enter the market and build wealth. In this episode I talk about the differences between re-sale and pre-construction and the benefits of investing in pre-construction in ANY economy. My name is Nico James-Bock and I'm a Broker and CondoWiz™ with Royal LePage Signature Realty in Downtown Toronto.

Some Benefits of Preconstruction Investing

1. Potential for Appreciatio

2. Customization

3. Extended Payment Structure

4. Newer and Modern Amenities

5. New Home Builder Warranties

6. Fixed Price

7. Hedge Against Inflation

8. Build Generational Wealth

9. No mortgage to assume immediately

10. Plan for retirement

The Main Differences Between Preconstruction and Re-sale

1. Purchase Timing

2. Pricing and Market Value

3. Customization and Upgrades

4. Risk and Certainty

5. Paperwork & 10-Day Cooling Period


These factors should be carefully considered by potential investors to align their investment strategy with their financial goals and risk tolerance.

Ciao ciao

Helping you increase wealth through #realestate

Book a time for a quick 15min Chat - Discovery: https://calendly.com/thecondowiz/15min
Social:
https://linktr.ee/nicojamesbock

Are home inspections still relevant in this economy???

Yes!!! Not only are they relevant, they are in my opinion obligatory.
In this episode of Building Wealth Through Real Estate...Brick by Brick, I talk about why I believe Home Inspections are necessary in ANY economy and in particular in this economy. My name is Nico James-Bock and I am a Broker and CondoWiz™ at Royal LePage Signature Realty in Downtown Toronto.

What is a Home Inspection?
A home inspection is a professional, third-party inspection of a property that you intend to buy. Its goal is to evaluate the home from a structural and safety standpoint, as well as to ensure you’re buying a hazard-free, up-to-code property that’s a good investment of your dollars.

Types of Home Inspections:

1. General Home Inspection

2. Mould Inspection and Testing

3. Lead-based Paint Inspection and Testing

+ 7 more types.

Helping you increase wealth through #realestate

Book a time for a quick 15min Chat - Discovery: https://calendly.com/thecondowiz/15min
Social:
https://linktr.ee/nicojamesbock