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What impact did the COVID-19 have on Toronto’s real estate market?

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The COVID-19’s impact cannot be played down at any cost. Apart from affecting the global Economy (including that of the United States, People’s Republic of China, the European Union, and others), it has affected Canada in multiple aspects, real estate in particular.

The impact of the COVID-19 on the Canadian Economy and Canadian cities’ housing markets has been monumental. The spring season was a bit cold compared to past years, but record sales were observed in the summer.

Toronto’s market remains stable. Interest rates currently are at a historic low, and rents for most housing units decline. This indicates that making a move in real estate right now is the perfect time to do so.

What impact did the COVID-19 have on Toronto’s real estate market?

Without any doubt, Toronto is Canada’s financial and business capital, and the city has all ethnicities of the world (all) literally. The onset of the 1970s saw the city receive immigrants from all around the world. By the late 2000s, more than 49.1% of the city’s population was foreign-born.

A unique aspect of the city’s urban planning is mixing apartment buildings in residential lots to curb urban sprawl. After the 1990s, the sprawl began to spread towards cities and towns like Mississauga, Brampton, Vaughan, Richmond Hill, Pickering, Oakville, and Oshawa, the city’s urban planning is still the best of any large city.

The latest figures from the Toronto Regional Real Estate Board (TRREB) reveal that many Torontonians leave inner-city areas for homes in the suburbs. Some go to areas near holiday cottages and farms for what they term as ‘peaceful living.’ It also indicates that sales are rising in the 905 area (near the city) in comparison to the 416 area (city center).

According to experts, the reality of all this is quite complicated. Moving to the suburbs, or exurbs has been a trend affecting the Greater Toronto Area (GTA) real estate market among a specific demographic. This is also due to Toronto’s expensive real estate market. This trend has intensified due to the COVID-19 pandemic.

A survey carried out by the Mortgage Professionals of Canada in August this year among Torontonians revealed the following reasons for purchasing a home in the suburbs/exurbs instead of a condo are as under:

  • 28% of respondents said they want to live in a more immaculate home.
  • 14% revealed that their current home is no longer suitable.
  • 14% revealed that the current situation is an excellent time to get a good deal on a home.
  • 12% stated that low-interest rates make it a perfect time to buy a home.
  • 11% stated that they want to live in the least expensive place.

A vast majority of millennials are renters of Toronto condos, and they see a sharp fall in interest rates as the stepping stone to owning a home. The same phenomenon is also seen in other towns and cities other than the Greater Toronto Area (GTA).

Is right now the best moment to make a move in Toronto’s real estate market?

Here are some factors to prove that right now is the best time for Torontonians to make the best real estate move:

Reduced interest rates

Thanks to low-interest rates, mortgage rates across Canada are experiencing an all-time low. HSBC Canada has reduced its five-year fixed mortgage rate to 1.99%, which has broken Canada’s 2% barrier. Depending on the buyer’s/resident’s situation, a drastic cut in these rates can mean massive savings for them.

With the Canadian Economy recovering amidst easing COVID-19 induced restrictions, it projected that economic activity would bounce back quicker than expected in the third quarter. The Bank of Canada indicated that it might keep these rates historic low in supporting economic recovery. This is itself a good omen for those who want to buy a home, refinance their mortgage, or amalgamate their debt.

There is relief in the rental market

Short-term rentals were banned for the pandemic duration, forcing landlords and property owners to list their short-term rental properties as long-term rental properties (Airbnb ones included). Consequently, inventory grew as prices fell.

Evens students moved out of the city too. This trend was witnessed in the previous couple of months due to a drop in employment rates. Meaning, no one could afford to live in Toronto without a steady income (as it is also ranked among the world’s expensive cities to live in).

It was announced on September 17 that rental prices wouldn’t increase from January 2021, and will be kept that way up to December 2021 to help unemployed tenants pay rent with ease. It is relatively early to predict if rents will remain low, but those who wish to get a property for rent in the city should know the time to make a move.

A summer of record-breaking home sales

When the market was put on hold due to COVID-19, buyers were on the sidelines, which resulted in an upward surge in home sales in the summer when restrictions started cooling off. The pandemic moved the busy spring season of real estate through the summer as housing prices in the Greater Toronto Area (GTA) broke records in July and August.

The market saw a surge of condo listing too. Other than that, buyers were vying intensely for both detached and semi-detached homes.

Tightening of the detached housing market and softening of the condo one

Both detached and semi-detached homes were selling like red hot properties. Two reasons led to this: 1). People are becoming comfortable working from home, and 2)—residents looking to buy decent homes outside the city.

The months of July and August saw the highest recorded numbers for prices in these segments. The same period also saw tight competition due to low inventory.

While on the other hand, listings for condos outstripped the sales, which resulted in balanced conditions in the condo market. This was further reflected in a slower pace of price growth in this segment. However, condos prices did not drop as selling prices for them in Toronto grew by 17%, and listings were raised by 25% compared to the previous summer.

For the city’s (and country’s) Economy, it is a good sign, but for new buyers dreaming of having their own home, the sign is worrisome.

The immigration factor

Canada’s population is seeing its slowest growth since 2015 and due to the COVID-19 pandemic too. With supply and demand in misbalance due to border restrictions, housing markets of other cities like Calgary, Edmonton, Montreal, and Ottawa have been affected because of this.

Despite the decline in immigration, Toronto’s market is steady and resilient due to monumental competition to the limited supply.

Selling prices have risen

Amid unemployment and a record wave of bankruptcies, a surge in selling prices has been observed. When the pandemic started, there was speculation that there would be a drop in housing prices, but that was not the case with Toronto’s market. Low-interest rates and a rise in activity from buyers and sellers are likely the reason for continued competition in the city’s real estate market.

The Canada Mortgage and Housing Corporation (CMHC) has tightened borrowing rules, yet the market booms. Another reason for this may be residents’ self-isolation, and the fact that inner-city residents were living in was not enough.

It might also be that sellers drop a home’s price when it isn’t getting sold. However, this has not been the case as it has been proved that sellers are waiting for the right price to sell their home.

Conclusion

Even though residents are now shifting towards suburbs, Toronto’s housing market is still red hot and is gaining momentum. Housing prices are not falling right now but can fall soon. A large part f this phenomenon can be attributed to COVID-19’s impact on the market itself.

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Worry-Free Moving: A Downsizing Checklist for Seniors

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According to a survey conducted by TD Ameritrade, 42 percent of respondents said they plan to downsize in retirement.

It makes perfect sense. The kids have moved out of the house, and you no longer need the extra space. All those household tasks – cleaning, maintenance and repairs – that made sense when the house was fully occupied, don’t really make sense any longer. And the added money you spend on a large home could be better used by enjoying your retirement.

The process isn’t always easy, though. Letting go of the family home, and the lifetime of memories therein, can be emotional and laborious – especially if you go it alone. If you are considering downsizing your home (either for yourself or an elderly loved one), you can make the process easier with this checklist.

Talk with Loved Ones

Whether you’re the one downsizing or you are sparking a conversation with ageing loved ones, it’s wise to talk things out. To start, determine the reasons for downsizing: is it a financial decision, for health reasons, or are they looking to make a positive life change? Perhaps it’s all those reasons.

Getting to the root of why downsizing makes sense can help the process along. Next, talk about possible reservations you (or they) might have. Are you nervous about decluttering? Is there trepidation about the move itself? The more you define your reservations, the better you can address them.

Outline Criteria for Your New Home

Besides a smaller size, what are you looking for in a new home? Do you want to be closer to family? Are you craving a community of like-minded seniors? Do you require greater accessibility and fewer house responsibilities? Answering these questions will help guide you toward your perfect home.

Declutter

To set your downsizing adventure in motion, you will need to edit your belongings. For best results, call in the experts for this step. A professional downsizing company can help you declutter and organize your belongings. Working closely, compassionately and patiently with you, they will sort your belongings and spearhead the sale or donation of unwanted items.

Take Pictures

Take pictures of your old home, and if it helps, take photos of belongings you are giving away too. These reminders of the past can help ease the transition. They are an acknowledgement of the significance that your home had in your life, and you can even hang them in your new home as you get used to it.

Leave Move Day to Professionals

When moving day rolls around, you want to focus on bidding farewell to your old home and saying hello to the exciting new chapter of your life ahead. You don’t want to be bogged down with moving logistics and tasks. Look for a professional downsizing company that, in addition to offering decluttering services, offers end-to-end move management, taking care of truck rentals, elevator reservations, packing and unpacking. Leaving move day to the professionals takes a lot of the stress out of the process.

With a few candid conversations with loved ones, some proactive planning and the help of professional downsizing services, your move will be largely stress-free and positive. Now, all that’s left to do is enjoy your new home – and the money you saved along with it!

 

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The Best Secure Payment Methods For You Online Business

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When you have a store online, the most fundamental thing to take into consideration is offering a secure way for your customers to pay. Secure not just for you, but mostly for them. Trust is essential when somebody is going to make a payment through your site. 

Picking the right ones is generally a balancing act, however. You want to provide enough options for your customer to have a choice and not click away for lack of a suitable option. At the same time, you need to make sure that the fees for accepting these payment providers won’t be so high that it cuts into your margins.

In this article, I will go over some of your best options when it comes to accepting payments online for your ecommerce store.

1 – Cryptocurrency

One of the best benefits to having your store online is that you have the entire world as your marketplace. Your customers can be anywhere in the world. The problem, usually, is handling foreign currency and payments. It usually is not worth the effort and expense to have options for those abroad.

With bitcoin, you never have to worry about that. With a digital wallet, you can accept cryptocurrency from anybody without needing to pay a middleman to convert the payment. You accept the coins into your wallet and that is the end of the story. Fees are also very low compared to other payment providers who take their cut as middlemen.

Then, there is the benefit that you could also make more money from the transaction if the coins gain in value while you have them in your wallet. If you are risk averse then you can convert bitcoin to cash right away, but if you want to take a chance you can see if you gain any value from your cryptocoins. 

2 – Paypal

Paypal has been around for a number of years and as such is widely trusted and makes a great option for people to pay. People without credit cards love to use it since it offers a lot of protections for consumers in case of a disputed transaction that many debit card holders don’t have due to their bank not offering them.

And this also works in favor of the seller if there is a transaction that doesn’t seem legitimate. 

Like with bitcoin, Paypal is international and can be used in many different countries to process payments if you have an international presence.  

The biggest problem with Paypal is the high fees, however. 

3 – Google checkout

The world’s largest internet company is of course going to make a splash in the ecommerce world. Google Checkout is the answer to Paypal and is very convenient.

Since just about everybody has a Google account, it is very easy to set up a wallet and make payments seamlessly. The fees are generally lower than Paypal and go down with volume as you use it to do more of your shopping

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The AKR Flatbed Service In Manchester and Its Insight

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Bolton-based AKR Light Highway is one of Manchester’s leading road transport firms. We are strategically in a position for successful implementation in the United Kingdom. We first thrived in the northwest because of our popularity. Therefore in Bolton, Manchester, companies northwest, Wigan, Leigh, Bury, Blackburn, Warrington, and Oldham, we establish close connections with our clients. You can quote today for a shipment.

We have several car models that can satisfy various distribution requirements. We offer an unmatched service. With our flood of cars with all sorts of other special equipment, we will quickly and efficiently deliver your messages.

Manchester Services is the UK’s leading road transport company.

For several years, the road haulage industry has been concerned with AKR Light haulage companies. Our Hauler service was in construction when we saw a niche on the market for a little but competent business. After a careful investigation in this area, AKR Flatbed Haulage has found that one specific item, a personal touch, was missing in larger organizations. This gave us the first idea, and we evolved from it without knowing being in a losing position. We’re glad to report that we’re a leading UK road transport and flatbed rental business!

Manchester Motorway Services

We are nationally-known as one of the best carriers in the UK. To deliver your products in time to a range of vehicles, we provide quick logistic solutions. We sell transportation and distribution in North-West England to all parts of Great Britain. Therefore, we are one of the leading transportation companies in Northwest and Great Britain.

Fleet and Storage Networks, Freight Transporters, AKR Courier, Flatbed.

We are a significant road haulage business in North West. What is a prerequisite in this case;

We provide on-board courier services for customs and time-sensitive shipments.

Move, and customs clearance electric and more can be delivered with parcels, pallets, available products, and Local and international urgent collections and deliveries. Living on the same/next day/guy the same day /Networks UK, Ireland, and Europe Supply proof (POD) is available for all deliveries. We have fully insured cars with goods subject to transit safety. Our transport systems include small, short wheelbase, long roll base, and extra-long wheelbases—our methods of transport methods include. There are a variety of airlines. However, we are genuinely separated from the crowd by our second-not customer service and our satisfaction.

Choose the best UK transportation business.

In the delivery of your goods through AKR transport, a range of vehicles is available. Suppose you need quick, reliable delivery or something fragile in the UK. In our transporter fleet, we have a lot of vans, like 3.5-story beds and 7.5-story beds. Transportation in the UK to your delicate/useful Flat Bed 7.5 Flat Bed forklift cars like 7.5 are perfect because you know that the starting point is remote. One of the key benefits is the forklift truck packaging. The vehicle or curtain is only folded downside, and the car is packed.

Difference between the transport and messaging networks

Differences between transport and courier services are one of the fastest-growing areas in the UK economy. In recent years, this expansion has been rapid. A rise caused this increase. We are a leading company for light and removals in the UK, Europe, and beyond. In the United Kingdom, and Europe and the United Kingdom and from Europe to the UK, we have expert service. In Britain and Europe, we sell domestic and commercial transport while looking for a European removal service at an affordable price. If you wish to have the best Light haulage quote Company in Europe and the UK, contact Williams Light Haulage Ltd today to receive a fast, reliable and affordable offer for your move or delivery.

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HOW TO INVEST AND WHAT PLAN YOU NEED

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What makes individuals rich? Observing the defrayment pattern of various financial gain teams within the makes it clear: Savings. The distinction between the wealthy and the poor is that the wealthy pay a more significant share of their financial gain on savings (pensions and insurance) and education.

When building wealth, conserving wealth, and spending it to subsequent generations, the formula for money success is stunning, but two hundred of citizens have a written set up once it involves investment and even retirement. The contradiction in human behavior is that we tend to area unit rational and capable of coming up with a severe event in our lives. However, this can be sometimes forgotten once it involves investment. You’ll notice that solely a 3rd of investors has a written set up guiding their investment strategy and retirement plans.

WHY IS PLAN NEEDED?

The investment world may be a harsh jungle, a world of murky waters wherever the best and therefore the most organized survive and become eminent whereas the remainder square measure gobbled up. A written set up short circuits our traditional response to one thing as emotional as cash. It prevents the North American nation from resorting to our gut feelings and emotions. Rather than following the herd mentality that will prompt you to form unwise investment selections, a thought can force you to stay to a rational strategy underpinned by basic investment principles.  You will overcome the fear of failure, tendency to approach a specific target.

PROPER ORGANIZATION TO INVEST:

The second most important thing you need is finding a proper organization on which you should invest. Life insurance and other investment insurance companies are more reliable than others. Other companies will take your money, and after some years they will forget you. Invest only in that organization on which you have much more trust than another. And follow the proper strategies and the policies to avail the insurance. Regarding these things, Amtrust.io is the best investment insurance company that you can trust easily.

TAKE A LOOK ON INVESTMENT STRATEGY:

If you are saving for long goals, you may select a lot of aggressive, higher-risk investments. If your goals area unit short term, you may choose lower-risk, conservative investments. Otherwise, you may wish to require much-balanced approach. Many companies have different strategies you should follow up on the best methods as Amtrust.io will provide you with a bonus commission for your business, 10% to 20% competitive commission and allow you to own your business and produce many dollars.

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What Is a Low Profile Tonneau Cover?

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Pickup trucks can be great vehicles. They offer the practicality of a bed with the comfort of an SUV (some trim levels are exceptionally luxurious). Additionally, many of them are impressively good in off-road situations. They can be made even better when you add a few accessories. One great option may be a low-profile tonneau cover like the TruXedo Lo Pro tonneau cover.

Tonneau Covers

Tonneaus are truck bed covers. They act as a lid on top of your truck bed. So, rather than having a completely open bed, you have an enclosed cargo area almost like a huge trunk. Unlike a trunk, however, they can be opened completely or even removed to give full access to the bed. As such, you get a trunk-like storage area with the practicality of a traditional truck bed when you need it.

There are a lot of reasons to consider adding a tonneau cover. These are some of the most significant:

  • Protection From Weather: One of the main reasons for buying a tonneau cover is that it can keep rain, snow and other weather out of your truck bed. Many covers are waterproof.
  • Security: A tonneau cover can obscure the items in your bed and make them harder to reach. Some covers also lock to keep any thieves out.
  • Aerodynamics: Tonneau covers can improve the aerodynamics of the truck bed. Pickup beds cause less drag than one may expect, but every improvement helps.
  • Styling: A lot of people love the look of a tonneau cover. Plus, there are numerous options and colors to choose from.

Low-Profile Covers

A low-profile tonneau cover is simply a tonneau that fits onto the bed with minimal protrusion. To help with security and waterproofing, many tonneaus have somewhat complex mounting systems that connect them to the sides of the bed. This can stick out, and some people would prefer a more subtle look.

Some low-profile covers are almost entirely flush with the top of the bed. This makes them more discreet. In some cases, low-profile covers are also lighter than other options due to their minimalist designs. However, the main benefit is purely aesthetic. If you want a tonneau cover but think that other options are too big, look for a low-profile one.

Top Low Profile Covers

There are a few great options for low-profile covers on the market. As mentioned above, the TruXedo Lo Pro is a great choice. Another good option is the BAKFlip MX4, a relatively low-profile folding design. Alternatively, you may like the ACCESS Vanish. All three of these offer relatively subtle designs but each one has its own advantages. Check them out to find the right low-profile cover for your needs.

Get a Tonneau Cover for Your Truck

Accessorizing your truck with great parts can make owning it a more rewarding experience. There is nothing quite like hitting the road or trail in a truck that you have customized. In addition to a tonneau cover, consider getting fender flares, shocks and wheels. Learn more about the accessories and parts available for your truck and place an order today.

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