Broadview Table Talks: Toronto Real Estate Podcast

Blind bidding, a longstanding practice in Toronto's real estate market, may finally be coming to an end with the new Trust In Real Estate Services Act (TRESA) legislation.

A few years ago, the Canadian government announced plans to reform the housing market, including a proposed ban on blind bidding. This controversial practice, where potential buyers submit offers on a property without knowledge of competing bids, has long been criticized for driving up prices and suppressing transparency.

With this potential change, buyers in Toronto may finally see a shift towards a more equitable and transparent real estate market. While it remains uncertain when these reforms will come into effect, the possibility of bidding wars becoming a thing of the past brings hope for a fairer and more accessible housing market in the city. At least, for buyers.

Could this be the start of a new way of doing business in Ontario?

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The soaring real estate prices in Canada have created a stark reality where a decent income alone is no longer sufficient to afford a home. The increasing cost of homeownership has far outpaced wage growth, making it incredibly challenging for middle-class families to enter the housing market. Factors such as low housing supply, population growth, and speculative investment have contributed to the current landscape. Moreover, the stringent mortgage stress test and rising interest rates further exacerbate the struggle for prospective homebuyers. As a result, the dream of owning a home is slipping out of reach for many Canadians, creating an urgent need for policies and solutions that address affordable housing and income inequality in our country.

So, where do we go from here?

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If you want to chat with us, do the following:

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Passive homes have gained significant recognition in recent years for their innovative and sustainable design principles. These houses are not just another architectural trend, but rather a response to the pressing need for energy-efficient and eco-friendly living spaces. With an emphasis on reducing energy consumption, passive houses have become a beacon of hope for mitigating the environmental impact of residential buildings.

The concept behind passive houses is simple yet revolutionary - to create homes that require minimal heating or cooling systems. By implementing a well-thought-out combination of insulation, solar energy utilization, and efficient ventilation, passive houses are able to maintain a comfortable indoor climate year-round without excessive reliance on fossil fuels.

One key feature of passive houses is their air-tightness, achieved through the use of continuous insulation and high-performance windows and doors. This not only prevents heat loss in cold weather but also keeps the interior cool during hot summer months. The carefully sealed structure ensures that external elements, such as drafts and pollutants, are kept at bay, resulting in a healthier and more comfortable living environment.

Another essential element of passive houses is their strategic use of solar energy. Large south-facing windows and properly positioned shading devices allow for optimal solar gain during winter months, while preventing overheating in the summer. Additionally, the inclusion of solar panels on the roof contributes to a considerable reduction in energy consumption, as passive houses generate a significant portion of their own electricity.

One of the most fascinating aspects of passive houses is their reliance on natural ventilation systems. By incorporating heat recovery ventilation (HRV), which continuously exchanges stale indoor air for fresh outside air, these homes maintain a constant supply of clean and filtered air. The HRV system also transfers heat from the outgoing air to the incoming air, further reducing the need for additional heating or cooling.

Apart from their impressive energy efficiency, passive houses offer numerous benefits to their occupants. The superior insulation and air-tightness result in a remarkably quiet living environment by minimizing external noise penetration. Additionally, these homes prioritize the use of non-toxic materials, ensuring improved indoor air quality and reducing the risk of allergies and respiratory issues.

While the concept of passive houses has gained significant traction, there are still challenges to overcome. The cost of constructing a passive house can be higher in comparison to traditional homes due to the specialized materials and systems required for their construction. However, it's important to consider the long-term benefits of lower energy bills and reduced environmental impact that these houses offer.

Reach out to us if you want to come check it out in person!

Watch this podcast on YouTube:

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at [email protected]; or

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If you exclude major streets (that don’t have land use designations), approximately 75% of the land in Toronto only permits a single family home to be developed on it. The other 20% are open spaces and employment zones (where people can work), leaving only 5% to be able to develop in to more denser uses. Furthermore, the re-zoning process is complicated, and takes several years and is an expensive process. So if you are faced with the choice to intensify land, you’d naturally want to swing for the fences, namely, large apartment buildings and condos.

This is where the “Missing Middle” term came from. It’s a range of housing types between single family homes to apartment buildings that have gone missing from large cities.

As of May 10, 2023, The City of Toronto has adopted an amendment to the zoning by-law and official plan to allow multiplexes citywide, thereby eliminating single-family zoning. You can now create up to 4 units on all lots with residential zoning, plus a garden or lane suite.

Will this be enough to solve the housing crisis? What’s the cost to do so, and what does the process look like? Are there any objections from the community? Find out more in this episode featuring Craig Rice of Lanescape.ca.

Find Craig here:

Watch this podcast on YouTube:

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at [email protected]; or

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The numbers in Toronto real estate don’t seem to make sense any more. With the rising cost of home ownership, despite record growth in rental rates, the ROI is not there if you’re only looking at the yield. So what’s better, putting your money in a low risk high-interest savings account or GIC and getting 5% on your money? Or is investing in GTA real estate still the tried and true method of investing?

Watch this podcast on YouTube: https://youtu.be/qWV2RxxmRXg

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at [email protected]; or

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1

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In May 2023, the number of sales has nearly tripled since the beginning of this year in January, and up by almost 25% year-over-year. Yet the average price is slightly down by -1.2% from this time last year. Are we in a seller's market, or still in a buyer's market?

Also, let's talk about ways you can kick out your tenants to sell your property. It's a question I often get from our clients and from agents in our office.

Watch this podcast on YouTube: https://youtu.be/o7xFArKwjj8

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at [email protected]; or

If you’re not ready to reach out and just want to follow for more, find us online:

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Only 18% of newly purchased resale properties are cash flow positive, and around half of new construction closings that were purchased 4-5+ years ago coming online now are cash flow positive. As you may know, cash flow is oxygen. Unless you can supply oxygen from other means to keep this thing alive, or maybe you don’t need oxygen at all (25% of new condo closings don’t have mortgages), becoming a landlord is a losing proposition.

Is it even financially viable to invest in Toronto real estate any more?

Watch this podcast on YouTube: https://youtu.be/rHI9u82GuGI

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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If you want to chat with us, do the following:

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There are a lot of mixed signals in the housing market right now. Prices are on the rebound since the beginning of this year. New listings are at an all-time low. Will we have more inventory in Toronto? What if we get another rate hike, will the real estate market collapse?

Watch this podcast on YouTube: https://youtu.be/nWKL0cRpvzo

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at [email protected]; or

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1

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There are a lot of mixed signals in the housing market right now. Prices are on the rebound since the beginning of this year. New listings are at an all-time low. Will we have more inventory in Toronto? What if we get another rate hike, will the real estate market collapse?

Watch this podcast on YouTube: https://youtu.be/nWKL0cRpvzo

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at [email protected]; or

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1

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As you are building out your real estate investment portfolio, which would you pick? A larger unit, or a smaller unit to invest in?

In this episode, Michael Ng and Kenneth Yim discuss the trade-off between larger units and smaller units to invest in. We talk about what gives the best return on investment, which one is easier to rent out, and which size is easier to sell.

Watch this podcast on YouTube: https://youtu.be/xqUDgFy6sZk

Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments

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Subscribe now to keep updated for more information.

If you want to chat with us, do the following:

1. Send an email at [email protected]; or

If you’re not ready to reach out and just want to follow for more, find us online:

YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1

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