The Top 25 Buyers Markets In Canada

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[00:01:05] Welcome to The Canadian Real Estate Investor where host Daniel Foch and Nick Hill navigate

[00:01:13] the market and provide the tools and insights to build your real estate portfolio.

[00:01:19] Welcome back to another episode of The Canadian Real Estate Investor podcast.

[00:01:23] My name is Nick Hill.

[00:01:24] I am a mortgage broker and one of my favorite things to do is finance deals for podcast

[00:01:31] listeners.

[00:01:32] So if you are looking to buy an investment property or refinance or portfolio or build

[00:01:37] and construct something through an MLIS-like program, reach out.

[00:01:42] And I'm joined today and every Tuesday and every Thursday.

[00:01:44] Do you want those now?

[00:01:45] You want to?

[00:01:46] Yeah.

[00:01:47] Okay, cool.

[00:01:48] I do stuff too.

[00:01:49] One, two better than that.

[00:01:52] I do like doing deals with our podcast listeners actually.

[00:01:55] It's really fun because I feel like they're like the best clients because they put a lot

[00:01:59] of time and energy into educating themselves.

[00:02:01] For sure.

[00:02:02] So my name is Daniel Foch.

[00:02:03] I'm a real estate broker.

[00:02:04] The majority of my clients are investors and developers and I help people buy investment

[00:02:10] properties, especially podcast listeners.

[00:02:13] That's the last, I think my last two deals were podcast listeners.

[00:02:15] So let's just keep it going.

[00:02:18] Give me a shout.

[00:02:19] And we do that across the country.

[00:02:20] That was the hardest pitch that we've ever done, I think, on the shows.

[00:02:24] Yeah, I've had one of great guy who's in the mortgage space with a friend and a bit of

[00:02:29] a mentor, Rich, if you're listening.

[00:02:31] This is for you who literally the last time we were together and we meet quarterly and

[00:02:36] try to get on calls monthly at least and he's like, you guys never, he's like, I don't

[00:02:40] even, I know you, I don't even know what you do.

[00:02:42] So that's what we do.

[00:02:43] I feel like that's one of the reasons people like the show so much so is like they know

[00:02:46] that they can listen without being like, we'll be like casually like, Hey, we have a course.

[00:02:50] So like, Hey, I think the five day challenge we've been hustling pretty hard because it's

[00:02:53] free.

[00:02:54] So like it's not really selling anything.

[00:02:56] We're selling something for free.

[00:02:58] Yeah.

[00:02:59] Yeah.

[00:03:00] Yeah.

[00:03:01] So there's that.

[00:03:02] But yeah, I think you're right.

[00:03:03] Like Adam, my broker of record at my real estate broker, he was always like, I don't even

[00:03:06] know if people know that you're a real estate broker and he made me run a poll on, on all

[00:03:10] my platform.

[00:03:11] Who do you think?

[00:03:12] Oh, yeah.

[00:03:13] What do I do?

[00:03:14] Yeah.

[00:03:15] I feel like it was like, it was 40% of people didn't know.

[00:03:18] So six, like the majority knew, but up dude, I get that all the time, especially on Instagram

[00:03:23] because I make a lot of content and a lot of some of it's mortgage related, but again,

[00:03:27] another friend of men or events is so events if you're listening.

[00:03:31] People just think here, based on your comments, people either think you're like an alt-right

[00:03:34] conspiracy theorist or a far left conspiracy theorist like, I don't even know, you know

[00:03:38] what I mean?

[00:03:39] It's like, which, I am figuring out anger, everyone, either left or right nor conspiracy

[00:03:43] theorist, but just a simple man with a mustache who likes making content and delivering value.

[00:03:48] So, but yeah, Vince told me that, you know, people don't want to hear about mortgages.

[00:03:52] So just make interesting content and that's what we try to do here.

[00:03:55] And I think some people like it based off of this review that Dan's about to read.

[00:04:00] Yeah.

[00:04:01] So let's start things off with a great review.

[00:04:04] Okanagan Realtor, who loves your podcast, Five Stars.

[00:04:06] Hey guys, I'm a Realtor out in BC in the lonely Okanagan Valley.

[00:04:10] Lovely.

[00:04:11] I'm going with the theme because the last line is funny.

[00:04:14] I absolutely love your podcast.

[00:04:16] I listen to them every week.

[00:04:17] I feel with all the information you guys give, it has been beyond helpful for me to step

[00:04:23] up my real estate game.

[00:04:25] I feel like I actually know what's happening in the market and in the economy.

[00:04:28] Sorry if this is choppy.

[00:04:29] I'm doing voice to text and Siri likes to get a little crazy.

[00:04:32] Keep up the good work with your Bob sledding endeavors.

[00:04:35] What?

[00:04:36] He says, keep up the work.

[00:04:38] Greatly appreciate you both.

[00:04:40] Siri did this person a solid.

[00:04:41] Their name is Silas Ricard likes tacos, hell of a name, I must say.

[00:04:45] Yeah.

[00:04:46] I don't know if that's a Siri name or?

[00:04:47] Or we have, what was he trying to say in Siri?

[00:04:50] Maybe just got it mixed up?

[00:04:51] I don't know.

[00:04:52] But great review.

[00:04:53] Great review of Bob sleds.

[00:04:54] We appreciate it and love the Okanagan.

[00:04:56] Probably one of the more beautiful places in our vast and beautiful country of Canada.

[00:05:02] The Okanagan is a region in my home province of BC.

[00:05:05] It's known for its beautiful wineries and fruit orchards and if you've been lucky enough

[00:05:11] to get to the main city there, Kelowna, absolutely gorgeous on the shores of the Okanagan Lake.

[00:05:18] It's surrounded by pine forests and provincial parks.

[00:05:21] Geez, I feel like I'm watching one of those like Michigan tourism commercials right now.

[00:05:27] And the cities of Kelowna, Vernon and Kamloops are also home to several ski resorts.

[00:05:33] So Kelowna is calling Okanagan.

[00:05:36] If you're looking for a new face for your commercial, I would love to be the face of

[00:05:43] the Okanagan.

[00:05:44] It would definitely do a good job.

[00:05:46] Just put him in a gondola and have him just repeat the same thing he just said.

[00:05:50] There we go.

[00:05:51] So, it is nice out there.

[00:05:53] It is actually, I think, the highest concentration of Fosh wine grapes as well.

[00:05:58] Well, you should be, hey, maybe we both will drink wine, but I don't drink any alcohol.

[00:06:02] But there's a wine that has...

[00:06:05] You eat grapes.

[00:06:06] You could eat the grapes before they're turned into wine.

[00:06:08] Can you eat wine grapes?

[00:06:09] I don't know.

[00:06:10] It's a good question.

[00:06:11] Okay.

[00:06:12] We're far enough off talking.

[00:06:13] I'll be right back on here.

[00:06:15] So it is actually one of the many markets that we're going to be chatting about today,

[00:06:18] which is why are we talking about these markets?

[00:06:20] Exactly.

[00:06:21] And so, along with the beautiful Okanagan, 24 other great markets, that is what today's

[00:06:26] episode is about.

[00:06:27] We're going to go over the top buyers markets in the country, but we're also going to look

[00:06:31] at what determines a buyer's market, what makes a seller's market, and if it's a good

[00:06:37] time to buy real estate in any of these markets.

[00:06:41] So, Dan, can you start us off, maybe, by telling us what makes a good buyer's market?

[00:06:48] So first of all, I wrote this as an article for Zolo, which is, I think outside of Realtor.ca.

[00:06:54] It's Canada's number one real estate search platform.

[00:06:56] Friend of the show.

[00:06:57] Yeah, friend of the show.

[00:06:58] Great.

[00:06:59] Favorite people, actually, funny story in Vancouver.

[00:07:03] Jason Billings.

[00:07:04] Did we tell the story on the podcast?

[00:07:05] I think we told it a couple times, but you know, it never gets old.

[00:07:07] The one around the Vancouver real estate podcast, both Nick and I had some veggies and dip

[00:07:11] that, well, they veggies and dip to us.

[00:07:14] Without getting graphic, both got turned on us.

[00:07:18] I had a lot more of the veggies and dip than Nick.

[00:07:21] I realized they didn't taste good about six curates in and he didn't warn me.

[00:07:25] I did, I was like, "This is, he's funny."

[00:07:32] You're like, "I don't care, I'm hungry."

[00:07:33] I was like, "Oh God."

[00:07:34] Oh, man.

[00:07:35] Anyway, so.

[00:07:36] Two hours later, after I bought a podcast with the Vancouver real estate boys.

[00:07:37] Yeah.

[00:07:38] So Jason Billingsley from Zolo's driving us to our meetup group.

[00:07:39] And I was like, "Dude, you got to pull over."

[00:07:41] And we're like downtown Vancouver.

[00:07:42] I think I don't have anything to do.

[00:07:43] Yeah, we're only cured.

[00:07:44] Yeah.

[00:07:45] Sounds like downtown.

[00:07:46] And I was like, "Okay, I'm going to have to puke."

[00:07:48] And I just got to be really selective here.

[00:07:50] I have to make sure that when I give him the emergency to pull over, I actually have somewhere

[00:07:54] to puke because there's this too graphic to discuss on the show.

[00:07:57] Anyway, so I had to like kind of spread open a bush.

[00:08:00] And I was like, "I haven't done this since college."

[00:08:05] Just like, I was like, it was a U-plant actually.

[00:08:07] I remember quite-

[00:08:08] You like just kind of get in your zone and you're very focused on your surroundings.

[00:08:12] You're like, "You're into a bush."

[00:08:13] You know that, like, me.

[00:08:14] Well, I had to-

[00:08:15] Well, I was dragged out of a bush.

[00:08:16] Yeah.

[00:08:17] Yeah, yeah.

[00:08:18] I was like that.

[00:08:19] I had to.

[00:08:20] And I felt bad for all the people walking around.

[00:08:21] Oh.

[00:08:22] People have seen all of that stuff.

[00:08:24] They're like, "Oh, this guy's lost.

[00:08:25] He was supposed to be on the lower east side, but now he's up here."

[00:08:28] Yeah.

[00:08:29] So anyway, why is he getting back into that nice car?

[00:08:31] What's happening?

[00:08:32] Yeah.

[00:08:33] So that's a good story about our friend, the show from Zolo.

[00:08:36] From Zolo.

[00:08:37] However, has absolutely nothing to do with what makes a buyer at work.

[00:08:39] Oh, no.

[00:08:40] If you is true, last piece, if you were at our Vancouver meetup and you noticed that

[00:08:43] I may have-

[00:08:44] What we had in the low energy was going to the bathroom a lot.

[00:08:47] Now you know why.

[00:08:48] So anyway, what makes a good buyer's market?

[00:08:51] All that to say, buyer's markets.

[00:08:53] In a buyer's market, there are more properties for sale than there are buyers looking to

[00:08:56] purchase.

[00:08:57] This creates a favorable situation for buyers as they have more options to choose from and

[00:09:02] can negotiate better deals.

[00:09:03] It usually leads to lower prices, longer listing times, and less competitions among

[00:09:07] buyers.

[00:09:08] Additionally, sellers may be more willing to make concessions or negotiate terms to attract

[00:09:12] buyers in a buyer's market.

[00:09:13] The easiest way to measure whether a property has more buyers or sellers is using absorption.

[00:09:19] Development is the context of a real estate market that refers to the rate at which available

[00:09:26] properties are being sold or taken off the market.

[00:09:28] It is a measurement of the demand for properties in relation to supply.

[00:09:32] So high absorption rate indicates a strong buyer demand and a seller's market where properties

[00:09:37] are selling quickly.

[00:09:39] Conversely, a low absorption rate suggests a buyer's market where properties are taking

[00:09:43] longer to sell and there's a higher supply of available properties relative to buyer

[00:09:49] demand.

[00:09:50] There are two ways buyers markets can be measured.

[00:09:53] The first one is months of inventory better known as moi.

[00:10:00] Moi.

[00:10:01] Moi.

[00:10:02] They give literally a French word that is going on.

[00:10:04] You know I don't speak French.

[00:10:06] I know.

[00:10:07] I heard you from our Quebec listenership knows I don't speak French.

[00:10:12] What do you say?

[00:10:13] Tuah.

[00:10:14] River Ease.

[00:10:15] Months of inventory is a measurement used in real estate to estimate how long it would

[00:10:21] take for the current inventory of properties on the market to be sold given the current

[00:10:28] sales pace.

[00:10:29] It is calculated by dividing number of sales, sorry, the number of active listings by the

[00:10:35] average monthly sales volume.

[00:10:37] So this metric helps to determine the supply and demand dynamics in a real estate market.

[00:10:43] Now a high number of months of inventory indicates a buyers market where there is an

[00:10:51] excess of supply of properties relative to a buyer's demand, conversely a low number

[00:10:59] of months of inventory suggests a seller's market where there is limited supply of properties

[00:11:05] and high buyer demand.

[00:11:08] Months of inventory is calculated by dividing a number of active listings by the average

[00:11:13] monthly sales volume.

[00:11:15] This calculation estimates how long it would take for the current inventory of properties

[00:11:22] on the market to be sold again given that current sales place.

[00:11:27] Now months of inventory can be a tough metric to use because the digital age and subsequent

[00:11:34] flow of information in real estate has shortened sales cycle significantly.

[00:11:39] Furthermore, sellers often delist properties in today's market which can skew the inventory

[00:11:46] data used to make those calculations.

[00:11:49] As you'll see, many markets are not in buyers markets territory when using that moi metric.

[00:11:57] Is that better?

[00:11:58] I like it.

[00:11:59] It's like a moi metric.

[00:12:00] It's all about moi.

[00:12:02] and a buyer's mark.

[00:12:03] get based on a more short term metric, the sales to new listing ratio. So Dan, what is

[00:12:09] the similar? Yeah, the sneller. Okay. Cool. That's a good grader. That's an acronym, not

[00:12:15] an initial. I think so, right? Yeah. The snaler, I think is good. The snail. Yeah, that makes

[00:12:20] me think of snails, which I don't like. But I was thinking more like a roofing, nailing

[00:12:26] gun, but it's a snail mix with a nailer. I like it. Okay. There you go. Yeah. So the

[00:12:32] sales to new listings ratio also now known as the snaler is a measurement that compares

[00:12:36] the number of properties sold to the number of new listings in a given period. It provides

[00:12:40] insight into the balance between buyer demand and the seller supply in a real estate market,

[00:12:45] given the last month's performance. So 50 properties listed last month, 40 of them sold as an example.

[00:12:50] What's that ratio? So sales to new listings ratio range from 2019 to 2023 in a market like Halifax,

[00:12:58] which has the highest percentage of sales to new listings ratio. This is crazy. 143%.

[00:13:03] If 50 listings or if 100 listings listed last month in December, 143 of them sold. So that

[00:13:12] means a bunch of the properties that were listed in November and October had to sell as well, right?

[00:13:16] Calgary 108, Vancouver 106, Ottawa 103. So those are all markets that in December saw a

[00:13:23] sale to new listings ratio over 100%. That's like, that's a strong sellers market, right?

[00:13:30] Victoria 94%, then you get down to like an Edmonton that's at like 79%. So the sale

[00:13:36] to new listings ratio is calculated by dividing the number of properties sold in a given period

[00:13:39] by the number of new listings during the same period. The ratio provides an indication of the

[00:13:45] balance between buyer demand and the seller market supply in the real estate market. So

[00:13:49] it's a better point in time metric from my perspective for absorption because it captures the

[00:13:53] previous month's absorption without making an assumption that that will continue projecting out for,

[00:13:58] especially with like December as an example, it's like, only 50 properties sold. Well, now we have

[00:14:03] X numbers of months of inventory for January, February, March, but that's a hold of a market,

[00:14:07] really, the spring market versus winter, you know? Right. And not just winter, but December where

[00:14:12] people are usually preoccupied with other things. So let's look at what the differences are between

[00:14:19] a buyers and a seller's market. A buyer's market is typically characterized by having more than six

[00:14:27] months worth of inventory. And in this type of market, the supply of properties exceeds the

[00:14:34] demand from buyers, giving buyers more options and the ability to negotiate better deals. So

[00:14:40] investors like buyers markets, it often leads to lower prices longer listing times and less

[00:14:48] competition among buyers. So more than six months of inventory as a buyer's market,

[00:14:52] supply exceeds demand, five to six months of inventory is considered to be a balanced

[00:14:58] market and less than five months of inventory where demand exceeds supply is a seller's market.

[00:15:08] And then if you want to look at it based on the Snailer ratio, the sales and listings ratio,

[00:15:13] it is typically indicated when the ratio falls between a 40 to 60% would be a balanced market.

[00:15:19] This means that there's relatively equal balance between buyer and seller demands

[00:15:23] or demand and supply in a balanced market. And neither buyers or sellers have a significant

[00:15:28] advantage. So there's no price discovery really in either direction prices typically tend to grow

[00:15:33] in those kind of markets at like inflation, the rate of inflation and negotiations are generally

[00:15:37] fair for both parties involved. So when you get below that 40%, new listings overtake sales

[00:15:43] indicating a buyer's market. And above 60% where demand exceeds supply indicates a seller's market.

[00:15:51] So where was the sales and listings ratio lowest in Canada in December? So maybe we'll just go one

[00:15:59] for one looking at the top 25 buyers markets in Canada in Q1 2024. So that's looking at December

[00:16:06] data and starts off with southern Georgia and Bay, the western district of southern Georgia

[00:16:14] Bay. This one I found very confusing because they use like so many different, I'm like looking at

[00:16:17] a compass rose over here trying to figure out where is this place west again western district

[00:16:22] of southern Georgia and Bay. So we'll describe where that is on a map, but 12 months of inventory.

[00:16:27] So a full year of inventory and 36% sales to new listings ratio.

[00:16:34] This next one is a bit peculiar as well. We've got Lloyd Minster in Saskatchewan with

[00:16:41] the sales new listings ratio at 40 and no months of inventory. So this one, I had to remove the

[00:16:50] months of inventory because it really messed up the chart because something must have happened

[00:16:54] with like the inventory, there must have been a huge flood. I couldn't get granular granular on

[00:16:58] it, but there was like years of inventory. Yeah, so I did a lot of cool stuff.

[00:17:05] Yeah, it could be possible if like they had really low sales or a huge flood of listings,

[00:17:09] but I don't know, honestly, I was kind of confused. Fascinating though, Lloyd Minster is

[00:17:15] or Lloyd Minster is a city that exists in both Saskatchewan and Alberta, which I learned when

[00:17:20] I was right. It's right on the border. So Lloyd Minster, Alberta also appears on this list,

[00:17:26] which has 11 months of inventory, which is not that bad and a 69% sales to new listings ratio.

[00:17:34] Nice. Well, there you go. The tale of two cities. Yeah, so next South Oganoggan,

[00:17:39] 17 months of inventory, 43% sales to new listings ratio.

[00:17:43] Mascoka and Halliburton, Canadian cottage, Ontario cottage country, I should say,

[00:17:49] basically GTA cottage country, really, nine months of inventory and 49 sales to new listings ratio,

[00:17:57] so quite the discrepancy there. Next is Portage La Prairie. Guess which province that's it?

[00:18:03] Saskatchewan. No, I thought you were going to guess Quebec, because it's,

[00:18:07] I know, but you can't set me up like that. Not this, not this many episodes in 11 months of

[00:18:13] inventory, 50% sales to new listings ratio. So keep in mind, like we're already in balance

[00:18:17] market territory, like after Mascoka and Halliburton, which was one before this,

[00:18:21] we're in balance market territory now. And these are still considered your top buyer's

[00:18:25] markets based on absorption sales to new listings ratio absorption.

[00:18:29] Yeah, so then we've got Swift current at 15 months of inventory versus a 50 sales

[00:18:39] to new listings ratio. Yeah, then we get through a bunch of

[00:18:42] center of the university markets, coral lakes, perisound, Highland, I guess go back to Okanagan,

[00:18:47] Aurelia, which is in Ontario, Simcoe, Ontario, Bancroft, Ontario, Gray-Bruce, Owen Sound, Niagara

[00:18:52] Falls, Fort Erie, Welland, Chatham, Kent, Southern Georgian Bay, Eastern. Eastern. Eastern, okay.

[00:18:59] Kingston area. And now we'll talk about, we'll just finish the tail end of the list. So now we're

[00:19:05] above that balance market territory. So we're literally in sellers market territory and we're

[00:19:09] still somehow on the top 25 buyers market. So after Kingston area, we have what Nick?

[00:19:15] Powell River at 10 months of inventory and 69 sales to new listing ratio.

[00:19:23] Then we have northeastern Alberta, 15 months of inventory, 67 sales to new listings ratio.

[00:19:31] Yorkton at nine months of inventory and 68 sales to new listing ratio here on Perth,

[00:19:41] six MOI, so half a year worth of supply and 69 sales to new listings ratio. I guess all of them,

[00:19:47] all the rest of them are 69 sales to new listings ratio. So just give me Loidman's theory,

[00:19:50] though I mentioned it already. Yeah, we've got 11 months versus 69. And then beautiful

[00:19:56] Kamloops BC at eight months. There's a BC sales person. Is there a beautiful place?

[00:20:02] Add partnership I have. I'm waiting for the province of actually, you know,

[00:20:06] this is a story for another time, but years ago, I did go in and pitch Vancouver tourism on a

[00:20:11] business and we almost had them. We almost had them. You really live that beautiful British Columbia

[00:20:18] license plate. Dude, I was I was biking. I was doing yoga on the beach. It was good that I moved to

[00:20:24] Ontario, put a suit on, started a podcast and everything changed. Now I'm this guy.

[00:20:30] Yeah, you really settled. Okay, so now what we're going to do is each one of these top 25

[00:20:37] buyers markets, we're going to do a little bit of a deeper dive. I think we're in top 10 on the

[00:20:40] same. Top 10. Okay, 25 worth of content. Okay, there are 25 in here. No, they're not. No,

[00:20:45] I think we did. I think I did 10. Perfect. Okay, so 10, that's a lot better for our listeners,

[00:20:50] ears and for our voices. So we're going to talk a little bit about them, the sales

[00:20:56] new ratio, sales new listings ratio and the prices from 2022 and 2023. I am going to start us off with

[00:21:04] the Western District of Southern Georgia and Bay in February 2022, the average price, which was peak

[00:21:13] is 1.16 million. We saw that drop drastically in December to December 2023, at 750,000

[00:21:24] December 2023 sales to new listings ratio was 36% with a year's worth of inventory.

[00:21:31] And there are 1500 and 50 realtors serving that area. And that includes like Wassega Beach,

[00:21:39] Clearview Township, calling with the Blue Mountains, Meaford, Gray Highlands, a lot of,

[00:21:44] guess what? Those are a lot of beautiful places too, a lot of kind of mountain

[00:21:47] cottagey community up there as well. You really missed your calling as a tour guide.

[00:21:51] Hey, maybe that's the next thing. Yeah. Real estate tours. There you go.

[00:21:57] Make some real estate agents. You should be a realtor. That's it. You miss your calling

[00:22:02] guy. This is gonna go to bus up of people be like, today we're going to look at duplexes and

[00:22:06] Wassega Beach. They do that. A lot of guys do those like mass buyer tours.

[00:22:11] Are we moving on or we're done? Yeah. Good mentioned selling me calling wood.

[00:22:16] Lloyd Mancer, which we mentioned is a cool town that straddles the border of Albert

[00:22:22] and Saskatchewan. They're peak price. So it was a, I mean, it's kind of one of those markets that

[00:22:26] was trade sideways, but they did see a peak price in September. And I wouldn't use average in a

[00:22:30] market like this as a super reliable thing, but it's all I can get from the Canadian Real estate

[00:22:34] association. But 417,000 in September of 2021 has now dropped to 260,000 in 2023.

[00:22:42] It straddles the border between Albert and Saskatchewan, but as one city, so similar to

[00:22:46] Ottawa, Gatineau, except that's two cities, but it differs because it's incorporated

[00:22:50] by both provinces as a single city within one single municipal administration. There's

[00:22:54] some small differences in property on the other side of the border, obviously, because of tax

[00:22:59] code like land transfer tax, uh, lending capital availability and real estate regulations as a result.

[00:23:04] Korea records statistics for Alberta and Saskatchewan portions of the city separately, which I just

[00:23:09] learned this. So that's why I'm telling you because it's exciting. So if you're listening to the show

[00:23:12] from Lloyd Mancer, leave us a review and tell us if you're on the Alberta side, or the Saskatchewan

[00:23:18] side and which one's better because I would just love to meet a listener from there and from both

[00:23:22] fire me on Instagram or whatever. So Saskatchewan side of the city appears closer to the top of the

[00:23:27] list while the Alberta side is towards the end with a much higher sales menu listings ratio of

[00:23:32] 69% placing it in seller's market territory. The split in the city's recording with Korea does

[00:23:37] skew some of the data and create a bit of a unreliability. In my perspective, as average prices

[00:23:42] in Lloyd Minister Alberta were slightly higher at 280,000. So there does seem to be a little bit

[00:23:48] of volatility and average price metric for both markets, but it does seem to be balanced and

[00:23:52] opportune for buyers given it is more reasonably priced in a slower moving market with very little

[00:23:58] FOMO or fear of missing out from rising prices and very little fear of not getting out from

[00:24:03] falling prices. So who would have known that market

[00:24:06] markets that don't behave like roller coasters are actually good.

[00:24:09] Sorry, can you not just breeze past the new acronym that you came up with, please?

[00:24:14] You know, that's not new.

[00:24:15] I feel like it ain't coming up.

[00:24:16] Is that not going to get fongo?

[00:24:18] Yeah.

[00:24:19] I don't know.

[00:24:20] I'm not getting out.

[00:24:21] Yeah.

[00:24:22] That's like when you that's like when the race to the bottom, like if the market's just

[00:24:24] taking a lot of fun going on right now, definitely some Fongo in the precon space from FOMO to

[00:24:29] Fongo who would have thought.

[00:24:31] So did I make that up?

[00:24:32] I'm into it.

[00:24:33] If I did, I just said a Dan Fosher which I know we come with only a

[00:24:36] Nick Hill original.

[00:24:37] If someone else said it, I think it's a Nick Hill original.

[00:24:39] You must have got it from me of course, of course.

[00:24:42] So local economy in this community is primarily driven by the petroleum industry, big surprise

[00:24:46] to Saskatchewan and Alberta, very original guys.

[00:24:50] The agriculture is also an important economic activity.

[00:24:53] Husky, Lloyd Minister Refinery, my favorite gas station is actually, to be honest, like

[00:24:58] Canadian tradition to stop in at a Husky.

[00:25:01] They changed one of my favorite ones, the one off the 400 on the way up to Collingwood

[00:25:04] in the Bradford.

[00:25:05] They changed it over to something else now, I can't remember what it was, but back in

[00:25:08] the day, they used to have all you could eat pasta at that truck stop and my brother was

[00:25:12] the only person other than the truckers who could crush more than two bowls.

[00:25:15] No joke.

[00:25:16] Absolute animal that guy.

[00:25:18] Anyway.

[00:25:19] What kind of pasta?

[00:25:20] Sufficiently off track again, so tell me a bit.

[00:25:23] Tell me about South Okanagan again.

[00:25:24] Before we move on though, the market has a medium household income of $98,000.

[00:25:30] Oh yeah, it's the best price to income ratio in the country.

[00:25:32] I probably should have mentioned that.

[00:25:34] You're thinking about pasta, I'm supposed to be thinking about pasta to tell you about

[00:25:37] you're the medium income guys.

[00:25:39] Let's not forget the Canadian national average income, it's like $30,000 less than that.

[00:25:45] That's individual.

[00:25:46] The household will be like $60,000, $70,000, but still, so the interesting part is in the

[00:25:51] city of Toronto, your houses are like 10x income, people make $100k, houses are a million

[00:25:56] bucks.

[00:25:57] In Lloydman, sir, based on Crea, the average $280k versus it's like less than 3x income,

[00:26:05] which is like considered affordable.

[00:26:07] So yeah, I mean, if you want to be able to afford life, it's a great place to be.

[00:26:12] You know what I have, I've got Fongi, if you're not getting in to Lloydman, that's

[00:26:17] a nickel original.

[00:26:18] That is a good one.

[00:26:20] That is a good one.

[00:26:21] Okay, back to South Ogunnoggin from the top of the show, January 22, 2022 average price,

[00:26:30] peak price, $700,000, which dropped to $573,000 in December of 2023.

[00:26:39] The sales to new listing ratio for that same month and year was 43% with 17 months of inventory.

[00:26:48] And South Ogunnoggin is a beautiful region located in British Columbia.

[00:26:52] It's a hot tourist market, as you know, because I apparently work for the tourist board there.

[00:26:58] This is fun because we get to talk about that review that we got left.

[00:27:03] So, South Ogunnoggin was especially impacted by British Columbia's recent short-term rental

[00:27:09] accommodations act, which we did cover on the show when it came out.

[00:27:13] This act created a lot of supply by regulating some of the 16,000 homes in BC that were used

[00:27:20] for vacation rental purposes.

[00:27:23] Many owners likely elected to sell those homes because they were not as profitable as long-term

[00:27:29] rentals.

[00:27:30] Now, as a result, many tourism-centric markets are falling into buyer's market territory.

[00:27:37] So, can we talk about this review?

[00:27:40] Yeah, of course.

[00:27:41] So, we got a one-star review, and I'm saying this because I'm sad about it, and I want

[00:27:46] you to leave us a sufficient amount of five-star reviews to make up with.

[00:27:50] So, we can just forget about that one.

[00:27:52] And the reason I'm using this as a segue is because we're talking about Airbnb, which,

[00:27:57] as you know, Airbnb is an advertiser on the show, and we love that.

[00:27:59] We like Airbnb.

[00:28:00] Yeah.

[00:28:01] That's why I stayed in the Winnipeg when I was here.

[00:28:03] Nick is literally the biggest Airbnb fan in the world.

[00:28:06] So anyway, this review says liberal, blank, blank, communist.

[00:28:13] First time I've ever been called either of those things, that's for sure.

[00:28:16] Yeah.

[00:28:17] Yeah.

[00:28:18] And anyway, it says, sympathizing with BC NDP regulations against free market Airbnb's

[00:28:22] need to bleach my eardrums after listening to that dribble.

[00:28:25] So, anyways, I just thought it was funny.

[00:28:27] We read good and bad reviews on the show, so we still get a lot of bad ones, but uh...

[00:28:32] I mean, I don't recall actually, like, I think I said it was unsurprising that they...

[00:28:37] Well, I think one of these were for news.

[00:28:39] I had said, like, you know, this sucks for a lot of people, and I think you had said,

[00:28:42] like, I don't think there's a lot of people feeling bad for people that are losing money

[00:28:45] on Airbnb's right now.

[00:28:46] Which is true.

[00:28:47] Yeah.

[00:28:48] Yeah.

[00:28:49] I mean, a lot of people think that Airbnb's are responsible for the housing crisis.

[00:28:54] I think I've said a number of times that I don't think it's going to move the needle

[00:28:56] at all.

[00:28:57] No, and I don't think they're responsible for the housing crisis whatsoever.

[00:28:59] Right.

[00:29:00] So, what's that term, selective hearing?

[00:29:06] Something like that.

[00:29:07] Yeah.

[00:29:08] Could be a couple other terms.

[00:29:09] But anyway, I'm going to go out on a limb here and say, "We are not the first people.

[00:29:11] This person is called liberal blank, blank communists."

[00:29:14] Or, we have, and...

[00:29:16] Yeah.

[00:29:17] Let's just leave it there.

[00:29:19] We've got some...

[00:29:20] We've got better things to talk about.

[00:29:21] Anyway, if this was you who left this review, even though if your ears are okay after you

[00:29:24] bleached your ear drums, like, that's not safe, don't do that.

[00:29:27] That's self-harm.

[00:29:28] Why would you hurt yourself?

[00:29:29] But if you're still listening, I would love to have a conversation with you about this

[00:29:33] and just like level...

[00:29:34] Let's just clear the air here, because I'm worried about you, and I just want to give

[00:29:39] you a verbal hug.

[00:29:41] Anyway, Miskoka and Haliburton, another very hot Airbnb market, which seems to be correlated

[00:29:46] with price decreases because staycation thing kind of went away as COVID started online,

[00:29:52] and Airbnb regulations started to take place.

[00:29:55] And so, peak price in Miskoka and Haliburton is 1.2.

[00:30:00] This is, I think this is one of the biggest price drops, 1.21 million average price in

[00:30:05] June 2023, which is after rate hike started, by the way.

[00:30:09] And current average price, $784,000.

[00:30:13] In less than a year, it's dropped 400 grand, 300 grand.

[00:30:17] What's my math?

[00:30:18] 5.

[00:30:19] 400 grand.

[00:30:20] Yeah.

[00:30:21] 400 grand.

[00:30:22] As Nick might describe these places, two picture S locations in Ontario, Canada, known

[00:30:27] for their stunning natural beauty and recreational activities.

[00:30:31] Wow.

[00:30:32] Yeah.

[00:30:33] These regions attract tourists in residence alike with their charming towns, pristine lakes,

[00:30:37] and lush forests...

[00:30:38] Lush.

[00:30:39] Refer to as a cottage country, due to its abundance of vacation homes and cottages

[00:30:45] nestled among the shores of its many lakes.

[00:30:49] Escape from city life, anyway, basically still within driving distance of Toronto and or

[00:30:56] the GTA.

[00:30:57] And so it really did become a popular market for those working remotely or kind of on

[00:31:01] a hybrid work model who could stomach that longer commute, maybe just one or two times

[00:31:06] per week.

[00:31:07] I knew several people that did it.

[00:31:08] Like, yeah.

[00:31:09] What's the thing to do back then?

[00:31:10] I know a guy who had a hedge fund on Bay Street and moved his hedge fund to Miskoka.

[00:31:15] No joke.

[00:31:16] It's jealous.

[00:31:17] It sounds like a good life.

[00:31:19] Okay.

[00:31:20] Moving on to a very different place, Portage La Prairie, where the peak price in June 2023

[00:31:27] was $345,000, drastically different from old Muscogee and Halliburton at 1.21.

[00:31:35] Portage La Prairie, that peak price dropped $247,000, so shaved a hundred grand off by

[00:31:42] December of 2023.

[00:31:45] That same month we saw a sales to new listings ratio of 50% and 11 months of inventory.

[00:31:52] Now, Portage La Prairie is a city located in Manitoba situated approximately 85 kilometers

[00:32:00] west of Winnipeg, and it's known for its rich history and diverse economy.

[00:32:06] Now, Portage La Prairie has a diverse economy with various industries playing a significant

[00:32:11] role, agriculture being the main one, vital sector there, the reasons known for its fertile

[00:32:18] land and agriculture production, home to many manufacturing facilities, food processing

[00:32:25] plants that contribute to the local and the greater provincial economy.

[00:32:32] The real estate market in Portage La Prairie offers a mix of residential properties, including

[00:32:36] single-family townhomes and condos, and the city's affordable housing prices make it a

[00:32:42] really attractive option for home buyers that are looking for that more affordable lifestyle

[00:32:48] compared to the larger urban centers that we've mentioned a couple times on this show.

[00:32:54] Overall, Portage La Prairie is welcoming and thriving, and I'm just a fan of Winnipeg

[00:33:00] in general.

[00:33:02] Yeah, next moving there after his recent trip, John was trying to convince me to move there.

[00:33:12] The next one, Dan, has an even better average price, Swift current average price last month

[00:33:18] was $208,000, located in Saskatchewan, the sixth largest city in the province, and it's

[00:33:24] the regional hub for southwestern Saskatchewan, known for vibrant community, strong economy

[00:33:29] and beautiful, natural landscapes.

[00:33:31] The things that they really pointed out was that there's not a lot of traffic because

[00:33:35] it's a smaller city, and it's easy to navigate.

[00:33:38] What's that like?

[00:33:39] Yeah, exactly.

[00:33:40] Strategic.

[00:33:41] Yeah, I know it's so funny.

[00:33:42] As we're sitting here, when you've decided to stay at my house in the studio longer so

[00:33:46] that you can avoid rush hour because otherwise you're in the car for like four hours.

[00:33:50] Literally 45 minutes to get here if I leave at like an off hour and an hour 45 to get

[00:33:55] home.

[00:33:56] Swift current, central universe, baby.

[00:33:58] Yeah.

[00:33:59] Yeah, they really put the Swift in Swift current.

[00:34:01] That's for sure.

[00:34:02] Ooh, I like that.

[00:34:03] So it may not have the same pace or amenities as large urban centers, but it is charming,

[00:34:07] has a friendly atmosphere, and it's probably got enough services to be attractive to the

[00:34:12] average buyer who's looking really just seeking for affordable home ownership, right?

[00:34:16] Yeah, and speaking of affordable home ownership, the next one on this year, Perry Sound, kind

[00:34:21] of the known as the gateway to cottage country here in southern Ontario.

[00:34:28] December 2023 average price was under 500,000 at 495,000 sales to new listings, ratio is

[00:34:36] 50% and just under a year of inventory with 11 months.

[00:34:41] Now Perry Sound's real estate market offers a variety of options raising from waterfront

[00:34:46] properties, which capitalize on the stunning views of George and Bay.

[00:34:50] We're actually, I'm lucky enough to have a family cottage a couple hours north of there

[00:34:54] on George and Bay.

[00:34:55] And it is just beautiful up there.

[00:34:57] Of course, you can get more inland homes that provide the privacy and tranquility and access

[00:35:03] to the little townships there.

[00:35:05] But the demand for these properties can vary seasonally influenced by its popularity as

[00:35:10] a vacation destination.

[00:35:11] So you'll see a lot more influx there with seasonality than you would and maybe more stable

[00:35:18] markets that don't have a waterfront that draws people.

[00:35:22] Another destination for outdoor enthusiasts, beautiful nature, thriving art scene.

[00:35:28] And for potential buyers, Perry Sound represents an opportunity to invest in the lifestyle as

[00:35:35] much as the property.

[00:35:37] Similar to the next area, which you're going to covered in.

[00:35:42] Yeah, of course, lakes, very similar theme going on there, cottage country not doing so

[00:35:47] hot right now.

[00:35:48] Again, it could be out of season, but I guess we'll see coming this year.

[00:35:52] I don't think that disposable income to buy recreational properties is a theme in the

[00:35:57] 2024 Canadian economic outlook.

[00:36:00] No, 700,000 average price.

[00:36:03] Coral Lakes has a bunch of nice lakes, balsam Lake.

[00:36:05] There's like a campground there, Cameron Lake Sturgeon Lake, great views.

[00:36:09] It's like, it's kind of like the, I don't wanna say like the second year cottage country, but you

[00:36:16] know, it's just like, I think the, the scope is what you think when you hear first, but Kortha

[00:36:20] has way better ice cream, coffee berries. So, I mean, close to a lot of great investment markets as

[00:36:26] well. Yeah, I mean, you got Peterborough, Lindsey's a great market, which would be sort of like the

[00:36:30] center of Kortha Lakes. Yeah. Actually, you know, on the topic of the five day challenge,

[00:36:34] somebody just posted in the five day challenge saying they're from the Kortha Lakes and I was like,

[00:36:38] and they're like, oh, you know, I'd like to find an investment within an hour that I can drive to.

[00:36:42] And I was like, I think you might be good soon. Circle and man. Yeah, like Lindsey, I mean,

[00:36:48] Lindsey, like you're seeing like six, seven caps now. I remember like, that was, that was really

[00:36:52] when I started to see the market becoming like investable again, when I was seeing like Peterborough,

[00:36:55] Lindsey like spit no cash flowing properties. Because both of those markets skyrocketed

[00:37:00] for a little bit when, you know, everyone has tons of spill over, right? Yeah, like everybody

[00:37:03] from the GTA was like, oh, like, I feel like just Toronto and it's just discovered that there was

[00:37:07] like places outside of like, oh, what's that over there? I passed the 401. Yeah, exactly. I thought

[00:37:15] I was just miskoke up there. Last one on the list here and kind of similar theme with the last few

[00:37:20] Aurelia December 2023 average price of just over $700,000 sales new listings ratio on the same time

[00:37:29] was 51% with only five months of inventory as the similar to the other ones diverse market,

[00:37:36] various housing options that cater to different needs and budgets.

[00:37:40] Market includes everything from historic homes and established neighborhoods to more modern

[00:37:46] developments, waterfront properties, rural rural and kind of farm homes just outside the city limits.

[00:37:53] And we've seen a strong demand for a really over the last few years as again, people just kind of

[00:37:58] drive to you, qualify, drive to the quantify. So all of that being said, Dan, oh, I also do, I can't

[00:38:05] go past really without without mentioning the presence of casino rama. I have actually

[00:38:11] Webbersburgers and Webbersburgers, of course, but you can't win money in Webbersburgers. And I have

[00:38:16] actually won money in $250 big, big, big gambler over here roulette actually won money in Winnipeg as

[00:38:24] well. And I don't like I don't want to think I go to casino all the time. Those are literally

[00:38:28] like the only two casinos I've been to outside of Las Vegas. But I got

[00:38:32] apparently gambling is a huge thing now. I think we're just talking about all of a sudden, right?

[00:38:35] Like a lot of people just sport gambling, like I'll stick to the sport or real estate gate. But

[00:38:40] before we wrap up here, Dan, speaking of sports, actually, let's go back to Perry Sound and talk

[00:38:44] about Bobby or building himself a whole fame in Perry Sound because I did put in about this art

[00:38:49] center in Perry Sound. He so briskly jumped over. So they have this art center, but they also have

[00:38:55] Bobby or his Hall of Fame. Just one here you go. Shut up, Bobby or if you're a listener, friend of

[00:38:59] the show, you say he's a friend of the show? Yeah. Yeah, exactly. It's now a good time to buy real

[00:39:05] estate, Dan. Let me just reference my handy dandy realtor notebook. It says here, yes,

[00:39:10] it is always a good time to buy or sell real estate. Okay, that's it. End of the episode.

[00:39:14] So the real estate industry is infamous for claiming it's always a good time to buy and sell. But

[00:39:20] the reality is there are advantages to be found in different types of markets. In a seller's market,

[00:39:25] prices are typically rising. So industry participants often tell that it's a good time to buy to

[00:39:28] capitalize on potential capital appreciation. It carries a lot of risk, obviously, for buyers,

[00:39:33] but it has rewarded many in the process. Like I've always been bearish, but I probably cost

[00:39:36] some people money because they bought when prices were rising, they could have caught a 10% wave

[00:39:40] or whatever, right? So that kind of goes with that high risk, high reward thing. In a buyer's market,

[00:39:45] prices are typically stagnant or falling. So buyers are often more afraid. And this is where

[00:39:49] you don't get a ton of people piling into the trade because people aren't having that FOMO.

[00:39:53] They kind of have that Fongo. Fongy. You can negotiate better price in terms. And so this is

[00:40:02] where if we're going to talk about it more technically, what's a strategy that you can get

[00:40:08] as a result of this? And so to me, you have an opportunity to include conditions like financing

[00:40:15] and inspection in an offer. And so if you're a buyer in a buyer's market, start behaving like

[00:40:21] you're in a buyer's market. Don't go pile into a bidding war for the property that's been on the

[00:40:24] market for three days when there's a bunch of inventory sitting there for 20, 30, 60 days.

[00:40:30] Like go submit conditional offers. And that refers to an offer that is contingent upon

[00:40:38] certain conditions being met. So these conditions are typically outlined in the offer and must be

[00:40:42] satisfied within a specific time frame in order for the offer to become binding or firm, right?

[00:40:48] So give me some examples. Yeah, some of the probably the four most common are, and this is as a

[00:40:53] mortgage broker, this is something that we always tell our clients to include, which is a financing

[00:41:00] condition. That means the buyer's offer is contingent on obtaining a mortgage or financing for that

[00:41:06] property. And if you're unable to secure financing within whatever specific amount of time that we've

[00:41:11] agreed on, you can choose to walk away from that deal without any penalties. Another great condition,

[00:41:18] which we saw kind of disappear from the market in the crazy hype that we just got through is the

[00:41:24] inspection condition. And Dan and I think that this will eventually be legally imposed for everybody.

[00:41:31] They did put it in the homebuyer's bill of rights like that was a homebuyer's

[00:41:35] buyer should be entitled to an inspection. Yeah, and this essentially just means that,

[00:41:41] you know, you conduct an inspection, a satisfactory home inspection by a professional

[00:41:46] inspector, they will go in and discover any significant problems. And also every single

[00:41:52] little possible problem they will let you know of as well. There's also a sale of your current

[00:41:57] home condition. If you need to sell your current home in order to proceed with the purchase

[00:42:01] that you're trying to make. And the final one would be an appraisal condition. And this is where the

[00:42:07] buyer's offer is contingent upon the property being appraised at or above the agreed upon purchase

[00:42:14] price. So these conditions provide protection and flexibility for buyers allowing them to back out

[00:42:22] allowing them to back out of the offer if certain agreed upon conditions are not meant. It's kind

[00:42:27] of just your insurance piece, part of your due diligence. Right. So Dan, let's wrap it up. But

[00:42:32] before we do quickly finish this off with this last piece here, just words of words of wisdom.

[00:42:39] Yeah, I mean, I would just say I really encourage buyers to actually be aware of what's happening

[00:42:43] in their market. Look at the supply scenario in their given market in the spring to see what,

[00:42:48] if the market can be expected to behave as a buyer's market. Because the market can change

[00:42:52] drastically over the holiday season and it can provide some direction. Because it's often

[00:42:57] difficult to rely on your end data from the previous year, but behave like buy for the market that

[00:43:02] you're in. Don't be just jumping into bidding wars because some realtors telling you to or whatever.

[00:43:07] I think you end up seeing a lot of buyers remorse in these first couple of months of the spring

[00:43:13] market when there's very little supply and nobody knows what's going to happen in the spring yet

[00:43:17] and the rate environment is still kind of like. And so what happens is this is how equilibrium,

[00:43:21] like if we're just pure economics, what happens is you hear about this bidding war in Toronto,

[00:43:26] 85 offers, whatever. And then a bunch of sellers hear about that in the area and they're like,

[00:43:30] oh, you hear that Bob's host sold for 85 offers and a million bucks. And then they're all like,

[00:43:35] I would take a million bucks for my house. And then a bunch of sellers put their houses on the

[00:43:39] market. And now all of a sudden you go from a seller's market to a buyer's market like this.

[00:43:43] And now there's inventory. And so it just it always happens every year. You see these seasonal

[00:43:49] equilibrium. And the reason a lot of people are willing to and able to overpay in the spring

[00:43:54] is because they're paying for convenience because they all want to move in the summer. So people

[00:43:58] put a price on that. They're like, Oh, I'm willing to overpay by 25 grand. So I don't have to move

[00:44:01] on the show on the ground. Consumer sentiment is a powerful drug. The only thing I'd add to that

[00:44:07] great advice is always the only thing I'd add to that is these are overarching, these are

[00:44:11] overarching data points for markets in general. This doesn't mean that the investment property

[00:44:16] you're looking at falls into this price category or falls into any of the things that we're talking

[00:44:23] about. So you know, the real piece of advice here in the takeaway should be these are all

[00:44:27] great markets. There's definitely something going on in each one of them. So go check them out. But

[00:44:31] you can find and make deals in any market. Maybe that's out of Toronto.

[00:44:36] Well, I mean, even then like we're seeing guys succeed on MLI select deals,

[00:44:41] yeah, like four and a half caps. So and and even waving DC charges with with the less than four

[00:44:47] units. Yeah. I mean, I think you could do like four plexes could be pencilable with, you know,

[00:44:51] if you got your land cost, right? Yeah. So I guess we'll leave it there as a pretty long episode.

[00:44:56] Before we wrap up, just a reminder, Nick and I do real estate.

[00:45:02] And we don't just talk about it. And we do love working with with with with listeners from

[00:45:07] the show with members of our audience. So give us a show because we just did like a couple of

[00:45:12] deals with podcast listeners. We'd love to do more deals with podcast listeners. There are markets

[00:45:16] in the GTA or close to the GTA that we can represent you in. We have a good team that's

[00:45:21] built to do it. And so we'd love to hear from you if you want to to work with us. If you'd like

[00:45:25] what we have to say about mortgages or real estate transactions, we'd love to do some deals

[00:45:30] together. And then finally, if you're just looking to level up as an investor, since this episode is

[00:45:35] coming to a close and you'll be able to tap the show notes, as you go put on our next episode that

[00:45:40] you're going to listen to, join the five day challenge. Like it's no cost to you. It's totally

[00:45:47] free. We're going to have you in a centralized setting, an awesome community where you can

[00:45:53] network with other people. We have members from the territories, from all over Ontario,

[00:45:57] they can have people all over the place. So you want to learn about deals in different markets,

[00:46:01] or maybe meet a potential partner who can send you deals in Saskatchewan or whatever,

[00:46:05] it would be a great place to build that network. And what we're going to be doing is like a

[00:46:08] five day intensive training on just analyzing a ton of deals to get that fear and that analysis

[00:46:13] paralysis out of your system, so that when a good deal comes, because we're getting into a market

[00:46:18] where good deals are starting to reveal themselves, you can just identify it quickly and do it,

[00:46:23] rather than having to worry about it. And I will also mention that we are going to be beta testing

[00:46:30] a freaking awesome piece of technology. We haven't even mentioned this on the show yet.

[00:46:34] Oh, because it's like so cool. We want to like keep it like, yeah.

[00:46:37] So we'll have these guys on the show to talk about it, but they basically built an AI powered

[00:46:43] deal underwriting tool that goes on as a Chrome extension. So you can click through Realtor.ca

[00:46:47] and then hit analyze deal. And so the only complaint that we've got so far in the beta

[00:46:51] test is that the rent estimates are a little bit off, but still like it's like, I mean,

[00:46:54] come on, yeah, exactly. And you can, and you can fix them. So anyway, if you want to,

[00:47:00] if you want exclusive access to beta test, this unbelievably powerful tool, like I've been using

[00:47:05] it, I literally am analyzing like hundreds of deals now just for fun. So I found this,

[00:47:10] this 20 cap in Saskatchewan that I tried to convince Nick to buy with me. It's like,

[00:47:14] it was an easy convention. So I mean, yeah, it's like, hey, you got six grand laying around.

[00:47:18] Yeah, we could own a house outright. So anyway, that's it. That's my, that's my hard sell. And

[00:47:23] it's really just like, cause we, we want to engage with our audience more. We want to meet all of

[00:47:27] you. We want to work together. We want to help you succeed in real estate. So come join us on the

[00:47:30] five day challenge. Give us a shout. If you want to do a deal, we'd love to do that with you.

[00:47:34] Anything else, Nick? Thanks so much for listening, everybody. We'll talk to you soon.

[00:47:38] The Canadian real estate investor podcast is for entertainment purposes only. And it is not

[00:47:44] financial advice. Nick Hill is a mortgage agent with premier mortgage center and a partner in the

[00:47:50] G and H mortgage group, license number 10317 agent license M two, one zero zero four zero three seven.

[00:48:00] Daniel Fosch is a real estate broker licensed with rare real estate. A member of the Canadian

[00:48:07] Real Estate Association, the Toronto Real Estate Board and the Ontario Real Estate Association.