National Fall Market Updates

[00:00:00] Welcome to the Canadian Real Estate Investor, where hosts Daniel Foch and Nick Hill navigate the market and provide the tools and insights to build your real estate portfolio.

[00:00:12] Welcome back to the Canadian Real Estate Investor Podcast. My name is Nick Hill. I'm a mortgage broker and a real estate investor here today, every Tuesday and Friday with my good friend and real estate broker, Mr. Daniel Foch.

[00:00:29] Dan, what's going on and what are we talking about today? We've got a kind of a cool one of our cool monthly episodes here where it's just us for the first little bit, but then we've got some some very interesting characters from across the country that will be joining us.

[00:00:45] Yeah, so I this is actually becoming one of my favorite episodes, I have to say. So on a monthly basis, I think we're going to keep trying to do this. But basically, we'll go through the Korea stats.

[00:00:53] So Canadian Real Estate Association stats, there hasn't been really a ton of changes. So we're going to quickly breeze through what's happening on a coast to coast basis in regards to the number of properties sold as well as prices and kind of look at it.

[00:01:07] If there's anything significant, we'll dive in, zoom in a little bit on specific markets. But what we prefer to do is actually talk to our meetup hosts where they kind of give us a on the ground perspective of what's happening in the markets on a coast to coast basis. And so you'll hear from people, you know, in Vancouver, in Alberta and Saskatchewan, in Manitoba, in Atlantic Canada and Quebec.

[00:01:32] All over Ontario, a bunch of different Ontario markets.

[00:01:35] All over Ontario. Yeah, so you really get a variety of voices that just tell you a kind of clearer picture of what the fall market is looking like. And we're going to go through our meetups as well. We're going to talk a little bit about our meetups, the program, we haven't really done anything about the event specifically in a while.

[00:01:54] Just, you know, give you an idea of what to expect, how many members are in each group, because that's a program that we've been really, really honestly amazed by how much it's grown.

[00:02:05] It far surpassed my expectations. It's actually like literally double the goal that I had set for the year. And so, yeah. Anyway, so I guess we'll start off with the Korea stats here.

[00:02:17] So in September of 2024, which is the most recent Korea stats that we have that come out in the middle of October, Canadian home sales saw a moderate increase of 2% month over month, about reaching their highest level since July of 2023.

[00:02:33] So volume, this is a number of houses sold is recovering a little bit with significant contributions from major markets like the GTA in Vancouver.

[00:02:43] The trend itself follows recent interest rate cuts, obviously, that have continued into October with the most recent 50 basis point.

[00:02:52] What do they call it? A mega cut?

[00:02:55] Jumbo, jumbo, jumbo.

[00:02:56] It reminded me for anyone that followed the, this is totally off topic, but I have a girlfriend that was following this trial closely.

[00:03:04] The Johnny Depp Amber Heard trial where he was accused of having a mega pint.

[00:03:09] Wasn't that a power pint?

[00:03:10] Mega pint of wine.

[00:03:11] So from mega pints to jumbo cuts, here we are.

[00:03:16] But yeah, fourth cut in a row.

[00:03:20] Yeah.

[00:03:20] And much like a mega pints of wine can often complicate things.

[00:03:25] Jumbo rate cuts seem to be complicating the Canadian dollar exchange rate with the USD right now, which is, which is a theme in itself.

[00:03:33] Yes.

[00:03:33] But anyway, so give me, give me some of the key points here on, on these Korea stats from October.

[00:03:41] Yeah.

[00:03:41] I mean, the first one that we're going to look at is the sales increase that you mentioned in, right?

[00:03:45] National home sales rose 2%, right?

[00:03:48] Things are moving in the right direction.

[00:03:51] If we want to see more of those people getting off of those, you know, proverbial sidelines that everyone has been.

[00:03:58] So I guess sitting on for, for the past little while.

[00:04:02] But again, it's, this is just month over month data.

[00:04:06] So, you know, hard, hard to say.

[00:04:08] Yeah.

[00:04:08] To me, like they publish a really good chart, which again, if you follow us on like Insta, TikTok, YouTube, you'll see, I'll probably include this chart in the, in the video.

[00:04:18] We've been below the 10 year average number of sales for like two years now, like basically since, since the market dropped in the beginning of 2022.

[00:04:29] And so the real estate profession, like realtors are really feeling it obviously on their income, on, you know, their ability to do business on lit.

[00:04:36] If you have listings, you're not seeing as much transaction.

[00:04:39] And so that itself is becoming a little bit of a challenge.

[00:04:44] For sure.

[00:04:45] Again, again, again, this is just month over month.

[00:04:47] Right.

[00:04:47] And again, even Korea mentions here that significant contributions from major markets.

[00:04:54] Of course, those would be the GTA, the lower mainland, Vancouver.

[00:04:58] So this isn't the, you know, this is the same story every time.

[00:05:01] This is not the, the tale across Canada.

[00:05:03] This is probably led by those major markets.

[00:05:06] But again, that's just month over month.

[00:05:08] Dan, talk to me about year over year activity.

[00:05:10] Yeah.

[00:05:10] So on a year over year basis, we're about 7% higher compared to September of last year, which is, you know, again, they're calling it a continued recovery trend.

[00:05:19] I would say last year was pretty bad.

[00:05:21] And so, again, it is recovery.

[00:05:23] We're getting better than last year, but it's not super optimistic until from my perspective, we get closer to that 10 year monthly moving average trend line.

[00:05:31] Yeah.

[00:05:31] The other piece is like, you know, because even though sales are, are growing at again, 7%, so that's your demand side.

[00:05:39] You also want to look at your supply side.

[00:05:42] So what are new listings doing?

[00:05:43] Because I think that that's a really important piece of the puzzle.

[00:05:46] Yeah, totally.

[00:05:46] You know, this is, this is funny because again, I think this is another piece that's very nuanced across the country and in different markets.

[00:05:53] It's I've, I've had kind of conversations with, with local investors or local realtors across the country that are like, I've never seen this many listings.

[00:06:03] And then in other markets, it's a little drier.

[00:06:06] And just because there's listings doesn't necessarily mean there's activity, right?

[00:06:11] I know some people that have had listings for going on a year at this point, but regardless of those nuanced stories, there is new listing growth.

[00:06:19] The number of newly listed properties has increased by 5% month over month.

[00:06:24] And that has led to a national sales to new listing ratio drop to 51.3%.

[00:06:31] Yeah.

[00:06:32] So the sales to new listings ratio is basically the percentage of homes that sold divided by the percentage of, or sorry, it's the number of homes that sold divided by the number of homes that listed.

[00:06:43] And it creates this percentage, this ratio.

[00:06:45] So to me, it's a really good indication of, you know, whether or not the market's absorbing all of that new supply.

[00:06:51] Right.

[00:06:52] So, so sitting at 50%, is that, are we in balanced market territory?

[00:06:56] Is that what that stat is, is kind of spitting out to us or?

[00:06:59] Yeah.

[00:07:00] I mean, I guess you could say so.

[00:07:01] Like the people use a lot of different ranges.

[00:07:03] Some people will say like over 60% is a seller's market below 40% is a, is a buyer's market.

[00:07:10] And so the kind of 40 to 60 range is, is where you're, we're in that balanced market territory.

[00:07:15] So yeah, I would call this a balanced market.

[00:07:17] Might not feel that way for everybody, but the numbers, numbers always speak louder than words.

[00:07:22] Talk to me about what, what all this is doing for, for price, Dan.

[00:07:27] Yeah.

[00:07:27] So on the average price, so if you look at residential average price, I mean, it's been kind of up and down, like a little bit volatile.

[00:07:33] You can see like we've sort of returned to these seasonal trends, but like generally, if only somebody on this podcast told us two years ago that the market would trade sideways for the next two years.

[00:07:43] It's, it's been sideways for, for literally two years basically.

[00:07:46] And so since that huge drop, the price has pretty much been sideways.

[00:07:51] Now, interestingly, and this is kind of where you see the ability for Ontario and BC really to skew the national average.

[00:07:56] I know we talk about this a lot, but if you actually look at residential price year over year on a province by province basis,

[00:08:02] BC is down about 2%.

[00:08:04] Alberta is up about 10%.

[00:08:06] Saskatchewan is up 12%.

[00:08:09] Okay.

[00:08:10] Manitoba is up about 3%.

[00:08:11] Ontario is about flat.

[00:08:14] Quebec is up about 6.5%.

[00:08:17] New Brunswick is up 14%.

[00:08:21] Okay.

[00:08:22] Nova Scotia is up just over 9%.

[00:08:24] PEI is over, is up between 1 and 2%.

[00:08:28] And Newfoundland is up over 5% on an average basis.

[00:08:33] So residential average price year over year change.

[00:08:35] And so while it says price stability at a national level, it's really because BC is slightly down and Ontario is flat.

[00:08:42] So it's like, you know, 0% on a month over month basis, 0% on a, you know, if you look at market looks flat on a, on a two year timeline, but the majority of provincial markets are actually up and up, up significantly.

[00:08:55] Yeah.

[00:08:56] So, so let's talk about that because when we look at the average home price, the national average home price, it did increase by 2.1% year over year.

[00:09:04] So as of September, 2024, that was $669,630.

[00:09:11] Now, if you're listening to us from the lower mainland or the GTA, you're probably thinking, where the hell can I get a, a priced, a home price at that?

[00:09:20] A bachelor con.

[00:09:22] Literally.

[00:09:22] Yeah.

[00:09:22] So I'm going to take a second here, Dan, and kind of go through province by province, the average home price.

[00:09:27] BC, we're actually down.

[00:09:29] That was usually over a million dollars.

[00:09:30] The average home price in BC is $942,000.

[00:09:34] Ontario, 851,000.

[00:09:37] Quebec, 509,000.

[00:09:40] Alberta, just under 500 at 498,000.

[00:09:44] Nova Scotia, 439,000.

[00:09:47] PEI, 387,000.

[00:09:50] Manitoba, 362,000.

[00:09:53] Saskatchewan, 328,000.

[00:09:55] New Brunswick, 327,000.

[00:09:57] And Newfoundland and Labrador, 318,000.

[00:10:01] To bring that national average to that 669.

[00:10:04] Now, a lot of those numbers start with threes, fours, and some with fives.

[00:10:11] Only a few, namely two, start with eights and nines.

[00:10:15] And of course, that is Ontario and British Columbia, which brings that average up to that almost $700,000 national average house price.

[00:10:25] So just the same old story, right?

[00:10:29] Data is skewed by Ontario and BC.

[00:10:32] Now, talk to me about what this is doing to market supply, Dan.

[00:10:35] And then we'll chat a bit about meetups and then let the hosts enter the chat here.

[00:10:41] And we can get some live updates from across the country.

[00:10:45] Yeah, so we're at about 4.1 months of inventory at the end of September, which below the long-term average, but above seller's market conditions.

[00:10:53] So again, kind of in line with that sales to new listings ratio in that balanced housing market environment.

[00:10:58] So again, we're not, I would say like, honestly, it is very, very tough to be an expert in markets coast to coast.

[00:11:05] And so I will say that, you know, while we try our best to be experts on what's happening at a national level,

[00:11:11] we are certainly not experts on what is happening in Calgary or Edmonton or Kitchener-Waterloo specifically as an example.

[00:11:20] We have hosts, we have meetup hosts who we trust to deliver us information about what's happening in those markets.

[00:11:26] And so that's what I want to kind of really, really, let's call this an appreciation post for them, right?

[00:11:34] So we have these hosts, they go out once a month and they host thousands of members coast to coast.

[00:11:41] 4,225 members specifically, which is pretty awesome to see that.

[00:11:46] And I know our goal was to get to 5,000 by the end of the year and we might be cutting it close on that goal.

[00:11:52] But man, 4,225 people coming out every month to talk about real estate.

[00:11:56] Obviously not every single person goes out every month, but I'd say there's minimum 1,000 to 2,000 people probably out every month.

[00:12:04] 24 different groups across the country.

[00:12:07] Go check out the map.

[00:12:09] There's red dots in every major city across the country, which is just puts a smile on my face every time we look at it.

[00:12:16] Go to meetup.com if you're interested in checking one of those out.

[00:12:19] The link is always in the show notes.

[00:12:21] But back to you, Dan, you were going to go through the locations.

[00:12:26] Yeah, well, I kind of want to give all of our listeners an idea of like, if you want to go out and meet people and talk about real estate and build your network and maybe find capital partners or lenders or deals or clients, this is a really good place to do it.

[00:12:42] This is such a belly-to-belly network-based business.

[00:12:44] Not belly-to-belly like in Mighty Ducks where they do that thing where they sell you the goal and they belly bump each other.

[00:12:51] But that's what the salespeople are calling it.

[00:12:54] That's what we do every time we close a deal, isn't it?

[00:12:56] Yeah, exactly.

[00:13:00] So I'm just going to kind of go in order here.

[00:13:02] So Calgary is hosted by Cashin and Calvert Mick and Cashin Homes is a big private homebuyer out there.

[00:13:11] They have 879 members.

[00:13:13] So almost a quarter of our total meetup member population.

[00:13:16] Yeah.

[00:13:17] And their average RSVPs are almost 50.

[00:13:20] So almost 50 people attending the average event there.

[00:13:23] So that's 50 more people.

[00:13:24] And honestly, like this is interesting because Toronto is our second largest meetup group.

[00:13:29] 641 members.

[00:13:30] Average RSVPs is 27.

[00:13:31] So just shy of 30.

[00:13:32] And you hosted the Toronto meetups for a while there.

[00:13:36] 20 to 30 to me is like a great room.

[00:13:39] You know, even 10 to 20 simply because you get that intimacy.

[00:13:44] Like in a room full of 50, 60 people, it's hard to talk to every single person.

[00:13:48] You don't.

[00:13:48] Yeah.

[00:13:48] Like with a room full of eggs, there's no chance like as the host.

[00:13:51] And so anyway, Edmonton has 467 members, 14 average RSVPs.

[00:13:57] Kitchenwater Lou, 409 members, 20 average RSVPs.

[00:14:01] I know they've got a really strong group.

[00:14:02] They're doing presentations now.

[00:14:05] Like they'll have like a, you know, a half hour presentation and then a Q&A session.

[00:14:09] They have things where people can go up to the mic and introduce themselves to help like kind of expedite the networking portion of it.

[00:14:17] So we've got Vancouver, 408 members, 23 average RSVPs.

[00:14:22] Hamilton's got 157 members.

[00:14:24] Halifax, 136 members.

[00:14:27] Barry, 130 members.

[00:14:29] Moncton, 127 members.

[00:14:31] Windsor, 121 members.

[00:14:33] Saskatoon, 119 members.

[00:14:36] Vaughn, 117.

[00:14:37] Ottawa, 109.

[00:14:38] Ottawa is pretty new too.

[00:14:39] Ottawa and Montreal, basically both just breaking that 100 mark and absolutely crushing it.

[00:14:44] And our hosts in all of these cities are like actual experts, right?

[00:14:49] Like we'll go there.

[00:14:49] We'll listen to them have these conversations on these Zoom chats.

[00:14:54] And I'm learning something from these individuals every single time.

[00:14:58] I think you are too.

[00:14:59] Yeah, 100%.

[00:15:00] And I mean, you know, there are, I don't want to say most of the groups are new to new-ish things.

[00:15:06] If we're saying the legacy groups are, you know, maximum a year old.

[00:15:10] Well, a year isn't that big amount of time to grow something like this.

[00:15:16] So, you know, it's just been super exciting.

[00:15:19] It puts a smile on my face every time we do one of these episodes, every time you and I get to go out to the meetups.

[00:15:26] You know, we've been lucky enough to go across the country and meet all these people, meet all amazing people that come out to the meetups.

[00:15:37] And again, there's deals getting done at these things.

[00:15:40] You know, our whole logic behind starting these things, Dan, was to let's bring the podcast community from URL to IRL, right?

[00:15:51] In real life and give people the opportunity to get out, meet other people, meet other investors, right?

[00:15:57] We want everyone to be one degree away from that next power team member, that next deal, that next joint venture or GP or LP partner or that next contractor you're looking for.

[00:16:07] And it's happening.

[00:16:08] And it's happening.

[00:16:09] It's really freaking cool.

[00:16:10] And I love to see it.

[00:16:11] So, yeah, especially I would say like we started this podcast during the pandemic, right?

[00:16:17] Like people, we noticed the need for this when things were reopening.

[00:16:21] People were really craving that in-person experience.

[00:16:23] And I find that like while, and look, like I'm obviously a content guy.

[00:16:27] I do this podcast twice a week.

[00:16:29] I post videos on social media every single day.

[00:16:32] I obviously see the value in that network, but I still go to these events at minimum once a month to meet people.

[00:16:39] Because you cannot replace that connection.

[00:16:42] And also, there are a lot of people who aren't people on social media.

[00:16:46] And honestly, I don't mean to be a dick about social media in general, but I think it kind of skews heavily to like less serious people being super active on social media.

[00:16:56] No offense, because I am one.

[00:16:58] But there are a lot of serious people who honestly don't have the time or don't find it enjoyable or interesting or anything like that who you're going to meet there.

[00:17:06] Like I've met, you know, we've met millionaires, billionaires, people who own thousands of units, people who have built or run massive construction companies at these events.

[00:17:17] You know, and so it's just a whole different world.

[00:17:21] And I would really encourage people to get out, listen to these hosts, get out to your local meetup group.

[00:17:27] Our goal is to have one in every major market in Canada within the end of 2025.

[00:17:34] And so we're getting there.

[00:17:36] And honestly, it's only sustainable for us if you get out there and support them and meet people and kind of capitalize on the hard work that ourselves and the hosts have put into making this thing real.

[00:17:47] Yeah, 100%.

[00:17:47] Last piece of advice I will give to everybody before we bring all of our wonderful hosts in is that if this is your first time going out or if you're hesitant to go to a networking event.

[00:17:57] You have to fight.

[00:18:00] Isn't that the rule?

[00:18:01] This is your first night at Fight Club.

[00:18:03] You have to fight.

[00:18:04] Yeah, I guess so.

[00:18:04] So please don't go punch anyone in the face at these events.

[00:18:08] That would not be good for anybody.

[00:18:09] But Dan and I have done full episodes on networking and how to network with real estate investors and how to present yourself.

[00:18:16] So go back, find those episodes, listen to them, and go and network with intention and meet the people that you need to succeed.

[00:18:24] Yeah, so one of the things that I've noticed that's different on a city-by-city basis is some markets are having like a fall market.

[00:18:33] And it was like this in the spring too, right?

[00:18:35] Some markets had a spring market.

[00:18:36] Some markets didn't have a spring market.

[00:18:38] It seems to be the same thing in the fall, right?

[00:18:42] So typically you'll see an increase in volume.

[00:18:44] You'll see a little bit of an increase in price.

[00:18:46] And it seems like some cities are having it.

[00:18:47] Some cities aren't.

[00:18:48] So we'll start in the West Coast and we're going to go West to East.

[00:18:51] And once you're done, you're recording, you can just drop off the call if it's easier.

[00:18:55] I know people got important stuff to do.

[00:18:56] So apologies for everybody on the East.

[00:18:58] You're going to be here for a while, but we'll switch it up next time.

[00:19:00] So we'll go East to West next time.

[00:19:02] So James and Jessica, we'll start with James, then Jessica.

[00:19:05] Does it seem like your market is having a fall market right now?

[00:19:08] Yeah, a little bit.

[00:19:09] I'd say there's still a lot of inventory sitting on the market for a while.

[00:19:13] And buyers are still kind of hesitant.

[00:19:16] The divide between buyers and sellers is pretty big still.

[00:19:19] There's a lot of sellers are still expecting those buyers to come back and bring those prices

[00:19:24] up and bid those places up and be there for offers.

[00:19:27] And it's not really happening.

[00:19:28] There's a lot of buyers markets out there throughout Vancouver and a bunch of different

[00:19:32] sectors.

[00:19:32] So I would say less so what a normal fall market is, but it's probably because of the

[00:19:38] interest rates and forecasting interest rates of coming down that maybe people are waiting

[00:19:42] on the sidelines a little more.

[00:19:44] Yeah, for sure.

[00:19:45] For sure.

[00:19:45] Jess, are you seeing the same thing in Vancouver?

[00:19:47] Yeah, I'm seeing the same.

[00:19:49] Like, I think it's not like a crazy fall market, but it's not definitely not slow.

[00:19:54] A lot of things I think we've seen kind of sit in the market over August, September now

[00:19:58] getting picked up.

[00:20:00] And we're seeing a lot of upsizers on our side.

[00:20:04] So a lot of clients renewals are coming up.

[00:20:08] It's their fourth or fifth year.

[00:20:09] And they're now looking into like a third bedroom.

[00:20:12] So we're seeing a lot of like, they're selling their condo, their first purchase, and now they're

[00:20:17] purchasing their second to grow their family.

[00:20:19] Yeah, I guess like people are probably looking at the renewal and they're like, ah, if I'm

[00:20:23] going to pay 5%, I might as well get more house for it.

[00:20:25] Right.

[00:20:26] So I think a lot of clients too, like we're seeing, we're hearing a lot of clients that are just

[00:20:31] trying to buy now because they are fearful that if rates continue to come down, that the

[00:20:36] prices are just going to jump.

[00:20:37] So we're seeing a lot of clients just kind of almost like force themselves into the market

[00:20:41] right now.

[00:20:42] Interesting.

[00:20:43] Yeah.

[00:20:43] Awesome insight.

[00:20:44] Really appreciate it.

[00:20:45] I guess we'll jump over to Calgary.

[00:20:46] Are you guys seeing a fall market there?

[00:20:49] I know Calgary was absolutely ripping and seemed to plateau in the summer.

[00:20:52] So did it survive into the fall or not?

[00:20:55] Hey Dan, yeah.

[00:20:56] Thanks for the question.

[00:20:56] It's Brennan here with the Calgary Real Estate Group.

[00:20:59] And yeah, the fall market, we typically have a fall market here where we see an increase

[00:21:03] in sales and activity, but I'm not seeing it.

[00:21:07] And I have a lot of conversations with realtors, investors, I obviously work with investors

[00:21:11] being a wholesaler.

[00:21:13] And there's definitely a little more fear in the market.

[00:21:16] And anyone who's selling right now has to be quite aggressive with their pricing.

[00:21:21] Even investors had to, you know, not be, they can't be so optimistic.

[00:21:26] They have to price aggressively or they'll end up sitting on the market.

[00:21:31] So we're seeing days on market increase and the market continuing to soften coming into

[00:21:38] the winter months.

[00:21:39] Awesome.

[00:21:40] Thanks a lot, Brennan.

[00:21:41] Let's move over to Winnipeg where we are or are not seeing a fall market.

[00:21:49] Yeah, thanks.

[00:21:50] Thanks.

[00:21:51] I'd say Winnipeg has been stupid all throughout the summer.

[00:21:55] And even myself had a lot of buyers that keep getting an outbid all summer that were

[00:22:00] like, you know what?

[00:22:01] Motivation's still there.

[00:22:02] Fall's going to slow down.

[00:22:04] Give us a little bit more of a chance.

[00:22:05] It's not like that at all.

[00:22:07] I don't know if it's we're getting a lot more out of province buyers that are seeing prices

[00:22:12] in Winnipeg and seeing rents increase that are just picking up properties.

[00:22:17] For instance, put in an offer on a place yesterday.

[00:22:20] It was listed way below market value.

[00:22:24] It was probably maybe $250,000, $260,000.

[00:22:25] They listed it for $199,000 with an offers date.

[00:22:29] They had 18 offers on it.

[00:22:31] Guy got it like $278,000 all cash.

[00:22:34] And that's about the third one that I've dealt with in the last week.

[00:22:37] So a lot of investors just at each other's throats trying to come in heavy, pick up a place

[00:22:42] just to flip and make, you know, $10,000 at minimum.

[00:22:45] And it's difficult, especially with some buyers.

[00:22:49] Even luckily one or a competing situation last week with another client.

[00:22:53] But again, another seven offer situation like $65,000 over asking.

[00:22:58] It's very heavy right now.

[00:23:01] Obviously, you still get some of those houses that sit on market for quite a while, but it's

[00:23:05] pretty competitive.

[00:23:06] There's just a lot of the money you're putting into the places here just makes sense for investing

[00:23:12] right now, especially when you're around that kind of like $250,000 to $320,000 kind

[00:23:16] of market.

[00:23:17] Yeah.

[00:23:17] Even like you just saying those prices out loud makes me want to start shopping in that

[00:23:21] market.

[00:23:22] But it's funny, like I feel like a lot of the Ontario capital went to like Calgary and

[00:23:28] then Calgary got like too unaffordable.

[00:23:31] So now it went to like, you know, Saskatoon or Edmonton or Winnipeg, right?

[00:23:36] So like to the point even where like some of the Saskatchewan deals we're seeing aren't

[00:23:39] even as good as like Edmonton deals, right?

[00:23:41] Or even like the East Coast now by comparison is cash flowing better than like some of the

[00:23:46] some of the prairie markets.

[00:23:47] So fascinating in that regard.

[00:23:49] It's insane.

[00:23:50] Like even myself, I just picked up a condo this week for $151,000 in like a good area.

[00:23:57] So there's like 17 pubs and a bunch of restaurants on the street called Cordon, which

[00:24:01] is one of the busier streets in Winnipeg.

[00:24:03] Like it's a two bed.

[00:24:05] I can rent it out for $1,650.

[00:24:06] The mortgage plus condo fee is going to be just under $1,100.

[00:24:11] So I can cash flow like $450 off it easily.

[00:24:14] Nice.

[00:24:15] Yeah.

[00:24:16] Awesome.

[00:24:16] Yeah.

[00:24:16] I was actually just looking at Airbnbs like for when Nick and I come out because we have

[00:24:21] a partnership with Airbnb obviously on the show.

[00:24:23] And I was thinking about like, I was like, I wonder what it would cost to just buy one

[00:24:27] of these condos in Airbnb.

[00:24:28] You should.

[00:24:29] There's a lot of people that do it.

[00:24:30] I mean, you ought to be smart about the area, obviously like downtown Winnipeg.

[00:24:34] You'll get booked, but it's just a lot of people that are very hesitant on the area.

[00:24:39] Yeah.

[00:24:40] Yeah.

[00:24:40] If you're ever interested, I mean, I can always send you some cool places that I think would

[00:24:43] work out great for it.

[00:24:45] Yeah.

[00:24:45] Maybe we'll go tour someone when Nick and I are out.

[00:24:47] Who's the furthest west in Ontario?

[00:24:51] I think Zach, that would be you.

[00:24:53] Eh?

[00:24:54] What are you seeing?

[00:24:55] Is there a, is there a fall market happening in Kitchener Waterloo?

[00:24:59] So it's a little back and forth here.

[00:25:01] Like, I mean, some of it, yeah.

[00:25:03] Okay.

[00:25:03] So there's an increase in bidders on some properties and then some I've been seeing sit for quite

[00:25:08] some time.

[00:25:09] I think it is coming down to just some of the people selling just haven't really brought

[00:25:16] their prices down to being realistic.

[00:25:18] But then again, you know, I just had a buyer go into a property in Cambridge that ended

[00:25:23] up with like a bidding war or 15 bids.

[00:25:27] They lost out on that one, ended up picking up another one.

[00:25:30] But, uh, you know, the, the semi-detached, those are moving really quick.

[00:25:36] Um, but the single family homes, it's just gotta be right in that, that good price range, you

[00:25:41] know, anything from high fives to mid sixes.

[00:25:46] And you'll see that move pretty quick.

[00:25:48] Other than that, some commercial stuff is picked up, but, you know, I think it's going to start

[00:25:53] slowing down here.

[00:25:54] Cause, uh, like a few other markets, some people are still sitting on the sidelines, uh, waiting

[00:25:59] for those rates to come down a little bit.

[00:26:01] But, you know, having a good chat with the clients and making them realize now is a good

[00:26:05] time to jump in before we see any price changes going up, uh, with the rates we have has been

[00:26:12] something I've been doing, but yeah, it's kind of, it seems like most, I would say.

[00:26:17] Yeah.

[00:26:17] It seems like people are like kind of calling the markets bluff, right?

[00:26:20] Like people that you'll say that to somebody.

[00:26:22] And, and I think that like in certain markets, it's true.

[00:26:25] It's certain in certain markets.

[00:26:26] It's not, but most people are like, no, I'm going to keep waiting.

[00:26:28] Like there's gotta be more downside.

[00:26:30] And I always find, I don't think we're there yet, but I always find like, well, if you look

[00:26:33] at mutual fund flows, right?

[00:26:35] Like Canadian mutual fund flows, Canadians are like exceptionally good at timing the market

[00:26:39] wrong.

[00:26:39] And so like they'll, they'll buy the top and they'll sell the bottom.

[00:26:43] And so whenever, whenever you have those conversations and like everyone is like, no, I'm not buying

[00:26:48] right now.

[00:26:48] That's like when it's actually probably the best time based on how Canadians are honestly.

[00:26:52] And maybe they're all waiting for these new CMHC rules in January.

[00:26:56] Now they're like, Oh, I'm not going to buy until I can put a triplex government insured

[00:27:00] triplex in my house.

[00:27:01] I don't know.

[00:27:02] There are some of those for sure, but yeah.

[00:27:05] Yeah.

[00:27:05] I mean, it's just kind of like my question's always why, what are you waiting for?

[00:27:10] A hundred thousand dollar difference.

[00:27:12] Is it really going to be that much of a difference to buying now?

[00:27:14] Right.

[00:27:15] Yeah.

[00:27:15] Yeah, for sure.

[00:27:18] I guess we'll go over to Hamilton, check in with Zach first.

[00:27:21] And then Aaron, you guys seeing a fall market out there?

[00:27:25] Yeah.

[00:27:26] You know what, Dan, obviously we focus on like the larger multifamily commercial space.

[00:27:30] And since the bond rates came down, a lot of these deals are penciling out a lot better

[00:27:34] than they were, you know, call it summer, spring of 2024.

[00:27:37] So there's definitely a lot more buyers at the table.

[00:27:40] Now the hard challenges I was talking to Aaron last night is really just the timelines

[00:27:44] of CMHC.

[00:27:45] Like our sellers literally ready to wait, you know, three or four months for you to go through

[00:27:49] and get the financing.

[00:27:50] If they are, people are doing deals every day, but if they're not, and they're asking

[00:27:54] you to do a bridge or get creative on the financing upfront, it's really tough to kind

[00:27:59] of bridge those gaps and make those deals work.

[00:28:01] But overall, I'd say there's a lot more buyers this fall than there was all summer, all spring.

[00:28:06] So yeah.

[00:28:08] Yeah, it is interesting.

[00:28:09] I mean, I guess like the risk exposure as well, like with like bond yields still haven't

[00:28:13] really settled yet, right?

[00:28:14] Like they were down and now they pop back up like based on US data.

[00:28:17] And so it's like, it does feel like there's a little bit of an inherent risk.

[00:28:21] It's not just the time, but it's also like, I don't even know what my rate's going to be

[00:28:24] if I'm waiting four months to close with CMHC.

[00:28:27] One of the things I've noticed is like, cause I'm working on a deal with somebody on your

[00:28:30] team, right?

[00:28:31] You know, in the signback process, it was like the vendor was comfortable.

[00:28:34] So the seller is comfortable giving a sick or whatever it is, four month financing

[00:28:39] condition, three month, month financing condition, as long as they can continue to offer

[00:28:44] the property for sale with like, so basically an escape clause, similar to what you would

[00:28:47] do with like a sale of buyer's property condition.

[00:28:49] So I thought that was a fascinating way to kind of deal with that, that problem.

[00:28:52] So I think the market's responding creatively to some of these like issues like you just

[00:28:57] described, right?

[00:28:58] Yeah, we've done that.

[00:28:59] And we've also done a condition precedent where the deal is technically firm, just waiting

[00:29:03] on CMHC financing to hit as long as it hits certain thresholds.

[00:29:07] As long as a certain loan amount or loan to value amount, we've even gotten deals like

[00:29:11] that accepted in the past.

[00:29:12] Mm-hmm.

[00:29:13] Yeah, no, that's a good one.

[00:29:14] So basically as long as they get a COI, then the deal closes.

[00:29:17] Yes.

[00:29:17] Makes sense.

[00:29:18] It's a good way to do it.

[00:29:19] I think you guys came in with that actually, but my seller came back with the escape clause.

[00:29:24] So we'll see.

[00:29:24] We'll see where it lands.

[00:29:25] Aaron, can you give us shed some light on what's going on with that CMHC stuff from the

[00:29:30] financing perspective and what's happening in your market?

[00:29:32] Yeah.

[00:29:33] Obviously bonds just jumped up, you know, 25, 30 points the other day on the CMB.

[00:29:38] You know, we were 288 on a five-year.

[00:29:42] We're at 332 right now on the five-year.

[00:29:46] So, you know, I think there's also a lot of conversation.

[00:29:49] I mean, you hear like Harley talk about mortgage bonds the other week in terms of, you know,

[00:29:54] speculating that we might be already at the bottom or at least priced in in terms of how,

[00:29:58] you know, far the mortgage bonds are actually going to drop.

[00:30:02] You know, I think people who are connected to the market in terms of how the bonds work,

[00:30:09] you know, in step with the States, we're probably locking in rates at that 288.

[00:30:13] Just, you know, at that point, the deal is making sense.

[00:30:16] It makes sense just to lock it in and not kind of take those risks.

[00:30:19] Especially if you know, you know, there's an economic report or job report coming up from the States

[00:30:25] sometime between when you could lock in a rate and when your closing is going to be.

[00:30:28] You know, it might make sense just to kind of take that rate lock and just kind of protect yourself

[00:30:33] 20, 30 bips on some of these deals.

[00:30:35] It may make sense.

[00:30:36] On the commercial standpoint, again, guys who have the money, investors who have the money,

[00:30:40] you know, we're seeing them make the deals.

[00:30:41] They're going in cash.

[00:30:43] They're coming in strong.

[00:30:44] They have the ability to, you know, take a hit on the loan to value and maybe move directly into

[00:30:49] like a lower loan to value on term debt, you know, with an equitable or somewhere like that.

[00:30:54] Instead of having to, you know, maybe rely on the CMHC closing.

[00:30:57] So obviously, you know, cash still kind of king in that situation.

[00:31:01] But for everyone else, you know, CMHC is, you know, even as competitive as the non-CMHC options

[00:31:05] are getting with credit unions and the rates dropping down, people still want that high leverage.

[00:31:10] And I think that's kind of the name of it right now when you have that 95% loan to cost or loan

[00:31:15] to value depending on the project, given the lack of liquidity in the market right now for the

[00:31:20] majority of guys, they still want that CMHC financing and that it really is the hotspot.

[00:31:24] So, you know, having those closing times, like Zach said, being able to negotiate that

[00:31:28] and then just also having to deal with, you know, like the understanding of investors and

[00:31:32] how the situation works.

[00:31:33] If you can't close on it, what does the bridge look like?

[00:31:36] Having to come up with the costs, the interest reserves and stuff like that, the fees.

[00:31:40] So really just kind of like that knowledge gap for the midsize investor, because that's where

[00:31:44] a lot of the volume is happening right now, right?

[00:31:45] This whole missing middle sub 10 million.

[00:31:48] These are the guys that really have the majority of the volume of transactions.

[00:31:52] And, you know, not everyone is a hundred percent in the know and understanding of all the processes.

[00:31:57] So a lot of just kind of like managing expectations, but overall, you know, the interest is there,

[00:32:03] right?

[00:32:03] Like we were talking last night and a lot of guys were saying this kind of feels like a 2019 market

[00:32:08] where there's that anticipation of things coming down, rates coming down.

[00:32:13] There's, you know, all the conversation of rates potentially coming down, maybe not so much now,

[00:32:17] 50 points, but, you know, again, it's still on the table.

[00:32:20] And then moving into the rate drops in 2025, I think people are anticipating it and they want to get into stuff.

[00:32:27] The infill development is still a hot topic with people being able to take advantage of

[00:32:31] the higher density in the zoning. So, I mean, we're seeing lots of guys there, but overall,

[00:32:36] I mean, it, from the commercial standpoint, the mid-level market guys are active guys want to

[00:32:42] take advantage of, of the deals that are coming. So it's still pretty hot there. I think from the

[00:32:46] red side, we don't do as too much, but it's going to be interesting to see like how some of these

[00:32:50] couple of new changes that just came on with CMHC allowing a refinance insured up to 90% to add on

[00:32:56] the secondary and, you know, third, fourth units to the property. But then also just like

[00:33:01] the lack of stress tests on, on switches, you know, what are those going to do to the,

[00:33:05] to the residential market? Are you going to see as many, you know, not necessarily power sales,

[00:33:10] but individuals who feel like they need to exit. If you can switch now to a lower rate market

[00:33:15] without the stress test, like, are you going to have as many individuals needing to get rid of

[00:33:19] that property? And then also, you know, how many investors are just going to say, well, you know,

[00:33:23] I was going to sell my primary, but if I can refinance now at 90%, build a few extra units,

[00:33:28] and then maybe sell it down the road, you know, again, are they going to hold on to that property

[00:33:31] for a year or two longer? So it would just be interesting to see how that kind of impacts the

[00:33:35] resi side. Yeah. A hundred percent. Yeah. There's a lot of factors for sure. I think that that will,

[00:33:40] like the, the uninsured or the, yeah, the uninsured switching without stress tests will probably help

[00:33:44] hold back some of the supply. Let's move a little East here to, I guess we'll go to Mississauga,

[00:33:50] Mariana. Are you seeing a fall market in Mississauga? Is it as strong as typical fall market?

[00:33:55] I wish so far, it's been pretty, pretty quiet. We deal mostly in residential freehold and, uh,

[00:34:04] we're finding some interesting tactics, to be honest, a lot of agents are trying to create

[00:34:10] bidding wars for properties and they're completely unsuccessful. I think Toronto core is seeing some

[00:34:16] bidding of war activity. So I find like PIL is sort of trying to mimic that, uh, unsuccessfully.

[00:34:22] Um, I am seeing a lot of sellers who have been on the market for some time, take some serious cuts.

[00:34:29] Now, um, I think they've reached the point of, um, you know, not being able to sustain,

[00:34:35] you know, five, six, seven months on the market. Um, another interesting thing we're seeing in

[00:34:40] Mississauga is areas that, you know, never saw an influx of listings are, are reaching levels of,

[00:34:48] of, of, of, you know, inventory that we've never seen before. Places like Lauren Park,

[00:34:54] Mineola, Port Credit, you know, properties that would have been extremely sought after

[00:35:00] are not getting any interest. And, uh, based on our conversations with our colleagues,

[00:35:06] um, fall market might be coming. There's just so much going on right now in terms of incentives.

[00:35:11] And, um, our close mortgage brokers are saying they they've seen, uh, an increase in pre-approvals

[00:35:17] and, you know, people just poking around. So, you know, given the fact that they're the first ones

[00:35:21] to kind of hear about it, um, we are expecting things to get a bit better, lots of hope on October

[00:35:26] 23rd, uh, rate cuts and, uh, let's see what happens then. Awesome. Thanks Mariana. I guess we'll move over

[00:35:32] to Vaughn now, Mike, are you, is it similar to Mississauga or are you guys seeing a little bit

[00:35:36] of a stronger fall market? What's going on in Vaughn? In Vaughn, it's actually interesting right now from

[00:35:41] a residential point of view. We have, uh, more listings than we do transactions. So I think supply

[00:35:47] is going to be increasing a little bit. Uh, the stuff that is selling though is pretty close to a hundred

[00:35:51] percent list to a sale price, which is, I guess, good for the sellers. Um, but from the commercial

[00:35:57] point of view, I'm actually really excited because, uh, I've gotten a little bit more commercial action

[00:36:02] than I have in the last little bit, which is fantastic. So I love doing that kind of thing.

[00:36:06] So I'm really happy about that. Uh, and then in terms of, uh, the building portion, um, I was actually

[00:36:12] really excited to actually see your reel yesterday, uh, about the laneway housing, uh, and the new, uh,

[00:36:18] mortgages that are going to be available for that. So I'm hoping that's going to help spur a little

[00:36:21] bit of activity there too. But yeah, in general, I think from, uh, the residential point of view,

[00:36:27] we're a little bit, uh, slower, I think than what people were anticipating. And, uh, for,

[00:36:32] like I said, from commercial, they're starting to come out of the woodwork and that's just not my,

[00:36:35] uh, personal stuff. A couple of realtors that I've been speaking to as well in the commercial

[00:36:39] space are kind of feeling that too. Um, I don't know about the others in the group, but to me,

[00:36:43] that's encouraging because, uh, I guess once they start picking up, then it'll make the rest of the

[00:36:48] market a little bit more appealing as money starts to flow at a rate. And, um, so I think while it's

[00:36:53] maybe not the fastest market right now, uh, you're setting up nicely for a nice little

[00:36:58] rebound for ourselves. Uh, I'm thinking probably maybe in mid early 2025 and, uh, hopefully it'll

[00:37:05] be good news then. Awesome. Yeah. No, it's interesting. You mentioned the construction piece.

[00:37:09] Like I, I think that that's, uh, like the secondary suite thing is going to create a lot of opportunity

[00:37:14] for contractors across the country, which will be probably pretty helpful given the GTAs pre-con

[00:37:20] market right now is likely going to create some contraction in a construct residential

[00:37:24] construction space. So I hope that, uh, hope that you're right on that one. Who do we got next

[00:37:29] here? I guess we'll go over to, is Serge still on here? Yeah. Serge, we'll go to Ottawa.

[00:37:35] Sure. So yeah, no, no real change in our fall market and I will compare it to summer. It's just

[00:37:39] kind of been business as usual for most of the year. Uh, volume is better than it was last year

[00:37:45] and the year before, but we're still well below a few years that came before that. And yeah,

[00:37:50] for the most part, we're just in a balanced market right now. So quality properties are moving

[00:37:54] pretty well, but buyers are very, very picky. And, uh, I'd say like the funny thing about

[00:38:00] Ottawa right now is that sentiment right now is way better than it was this time last year from

[00:38:05] both buyers and sellers, but it seems like both sides also think there's something better right

[00:38:11] around the corner. So there's no urgency from either one. So sellers, you know, don't really want to

[00:38:16] reduce their prices in a lot of cases because they think the market's going to, you know,

[00:38:19] surge up early next year. Buyers think interest rates are going to keep coming down. So they'll

[00:38:24] get a better deal if they wait till next year as well. And so I'm kind of telling people, you know,

[00:38:28] you can't both be right. So at some point something's going to have to move, but right now it's, uh,

[00:38:33] feels like it's, it's still a little slow. It's a Canadian standoff.

[00:38:38] That's exactly it. It's like when, uh, two Canadians are at a stop sign and they're

[00:38:42] each telling one another to go. Uh, that's exactly what our market is right now for sure.

[00:38:47] Yeah. Um, LJ, are you back here? I know, uh, you had to switch devices. Um,

[00:38:52] how are things looking in, in Montreal? Things are looking great in Montreal,

[00:38:55] to be honest, uh, ever since September 1st, which is typically when the market kind of turns back on

[00:38:59] for fall, things have been on fire. Our team alone, which isn't very big, we're three bro active

[00:39:04] brokers for the last couple of months. Um, we had about 15 million under contract over that period

[00:39:09] of time, 23 accepted offers. Um, so people are kind of back in full swing in Montreal and are

[00:39:13] excited for what's to come right now. This reduction in interest rates that we've seen over the last

[00:39:17] few months has really played a big role in that. And in Montreal, I'd say the market really

[00:39:21] contracted over the last 18 to 24 months. People were on the sidelines waiting to see what was going

[00:39:25] to happen, how the dominoes would fall. And now people kind of like, all right, you know,

[00:39:29] enough is enough where we've seen where things are heading. And from a seller's perspective,

[00:39:32] you know what they've been pushed to sell because I'd say we're back to the prices that we were in

[00:39:36] about 2021, before we started to see the decline, um, due to the interest rates. And from a buyer's

[00:39:41] perspective, they can see the writing on the wall at this point. And they know that with interest

[00:39:45] rates coming down, prices are going to start to go up at a pretty fast rate. And thus they wanted to

[00:39:50] catch this wave before it kind of gets ahead of them. So all these factors combined, we've had a

[00:39:54] lot of buyers consultations for people who are looking to buy in the next six months, I'd say some

[00:39:58] this fall, some early next year. And then on the listing side, we've actually seen a lot of,

[00:40:02] a lot of movement as well. A lot of people call and say like, Hey, I think I'm ready to make it to

[00:40:05] the on market now. So starting to plan all those things. So it's been a very active market.

[00:40:10] And statistically, sales are up across the board, but inventory is also up. So even though we're in a

[00:40:15] technically a seller's market, if you will, as far as I'm concerned, I've been telling people,

[00:40:18] it feels a lot more balanced compared to what we were in a couple years ago. But nevertheless,

[00:40:22] the stats are there stating that the sellers have the upper hand, but we can still negotiate.

[00:40:26] I say on average, we're taking two to 5% off any asking price. So we still have room to go in and

[00:40:30] talk. And we're only seeing about 10 to 12, 10 to 15% of properties are going into multiple offers.

[00:40:35] So there's still some breathing room right now, but I expect that multiple offer situation

[00:40:38] to really take over closer to 30, 40% over the next few months.

[00:40:42] Preston Pyshko Interesting. Awesome. Thanks,

[00:40:44] LJ. Really appreciate that. I guess we'll go to Cam. Moncton's technically

[00:40:48] further west than Halifax. So we'll start there. And then we'll go to Halifax and we'll finish up with

[00:40:54] PEI.

[00:40:55] Preston Pyshko Awesome. Thanks, Dan. Yeah,

[00:40:56] there's no real fall boom here. We are certainly in a balanced market. We're seeing longer days on market.

[00:41:01] But if you do have a semi-detached house that's under 320, they are moving like hotcakes. So I've

[00:41:06] been fortunate enough to work with some investors that had duplexes and decided to subdivide.

[00:41:10] Preston Pyshko So they're really happy with that outcome. But what's unique in this market right now

[00:41:14] is we recently introduced the seller's direction form to hold offers. And we're seeing that used on

[00:41:20] some of the small multifamilies. So those properties are being priced market ready. And we're seeing them

[00:41:25] go into multiple offers, getting that price point driven up due to the high demand. But this feels a

[00:41:31] lot like last year and we saw a massive run up in January. Awesome. Thanks, Cam. Excellent insight.

[00:41:38] Ryan, is the East Coast kind of all the same? Does it seem to be a similar story where you are or what's

[00:41:44] happening in Halifax? Ryan Neuhoff

[00:41:45] Yeah, similar. I mean, we're seeing September has been a bit stronger for Nova Scotia. Sales are up

[00:41:50] about 10% and about five to 6% year to date, but still well below 10 year averages. Inventory is still

[00:41:59] well below average too, but starting to creep up a little bit. Similar to what Cam said there.

[00:42:03] Ryan Neuhoff

[00:42:04] Anything under kind of like the 550 to 600 range in Halifax moves very quickly. Stuff above that is

[00:42:09] taking a lot longer to move. Another thing we've seen construction starts way up year to date,

[00:42:15] about 60% in Atlantic Canada, similar trends in Nova Scotia. One thing I'm super interested about is

[00:42:21] with the secondary suite announcement yesterday, could be big for Halifax with Laneway Homes and

[00:42:28] And DADUs, Halifax tried to kind of stimulate this market within the last couple of years

[00:42:35] with a forgivable loan to $40,000 on this, but it really didn't move the needle at all.

[00:42:41] So quite curious to see if this makes any significant change because it's much needed

[00:42:46] in the Halifax area.

[00:42:48] Awesome.

[00:42:49] Great insight.

[00:42:50] And let's finish it off with PEIs.

[00:42:52] Zach, what seems to be happening out in your market?

[00:42:54] Is there a typical fall market or what's going on?

[00:42:57] Yeah, thanks, Dan.

[00:42:59] Zach Denny from Royal LePage, Charlottetown here.

[00:43:02] And I would say it's probably a balanced fall market.

[00:43:06] We're definitely up from where we were in the summer and even back into the spring.

[00:43:13] Home sales are up almost 10%, similar to Nova Scotia, almost 10% year over year.

[00:43:19] But looking back a couple of years, we're not quite at that level of a fall market.

[00:43:25] I think interest rates probably playing the biggest factor there.

[00:43:28] So yeah, I'd say we're finding it, finding the fall market, but definitely a bit more

[00:43:33] balanced in favor of a buyer and seller, not just seller.

[00:43:38] Our benchmark price is high threes right now.

[00:43:42] So anything, a good chunk below that, in your twos range is extremely competitive, even if

[00:43:50] it is a balanced market.

[00:43:52] And then up above that, we're finding that things are sitting on the market for a little

[00:43:56] bit longer, even up to six months at this point.

[00:44:00] Yeah, it makes sense.

[00:44:01] I mean, it seems like most markets are really driven by the entry-level product.

[00:44:04] Anything that has your first-time buyers, investors, and downsizers competing for it seems to be

[00:44:10] moving.

[00:44:11] And then anything that's a little bit more premium is slow.

[00:44:14] Awesome.

[00:44:15] Absolutely.

[00:44:16] Yeah.

[00:44:16] I appreciate everyone's insight.

[00:44:17] For those of you listening to the show, those are our meetup hosts who you just heard.

[00:44:23] And so obviously, a lot of excellent insight.

[00:44:25] We encourage you to get out to their meetups, meet them, do deals with them.

[00:44:29] This is the best place to build your network and get value from obviously incredibly qualified

[00:44:36] people in the space.

[00:44:38] So make sure you check the link in the show notes and join the community on meetup.com

[00:44:43] and go meet one of these fine folks.

[00:44:46] The Canadian Real Estate Investor Podcast is for entertainment purposes only, and it is

[00:44:51] not financial advice.

[00:44:53] Nick Hill is a mortgage agent with Premier Mortgage Center and a partner in the G&H

[00:44:59] Mortgage Group.

[00:45:00] License number 10317.

[00:45:03] Agent license M21004037.

[00:45:08] Daniel Foch is a real estate broker licensed with Rare Real Estate, a member of the Canadian

[00:45:15] Real Estate Association, the Toronto Real Estate Board, and the Ontario Real Estate Association.

[00:45:20] Daniel Foch is a real