Toronto Livings Real Estate Podcast

Artificial Intelligence Transforming Real Estate: Opportunities, Risks, and Future Predictions

Gushi (Dundas W x Bathurst) - 707 Dundas St W

In Episode 31, realtors Mark Savel and Joey Virgilio dive into the upcoming changes in the real estate industry with the introduction of the Trust in Real Estate Services Act (TRESA).

Coming into effect from December 1, 2023 these changes have significant implications for buyers, sellers, and real estate professionals alike, altering the way real estate transactions are handled, especially within bidding wars.

The duo also discuss their personal experiences and opinions on these changes and their potential impacts. The episode is sprinkled with fun banter and anecdotes, giving listeners an insight not just into the world of Toronto real estate, but also into their engaging working relationship.

(00:00) Introduction and Episode Overview

(00:45) Meet the Hosts: Mark and Joey

(01:55) Personal Updates and Birthday Celebrations

(02:42) How Was Your Week, Where Did You Eat?

(04:40) Birthday Surprises and Toronto Maple Leafs Game

(08:56) Transition to Main Topic: Changes in Real Estate Regulations

(11:17) Discussion on New Real Estate Regulations: TRESA

(15:46) Impact of TRESA on Multiple Offers and Bidding Wars

(21:50) Market Strategy and Client Choice

(23:47) The Impact Of TRESA on Prices

(24:35) Coffee Break and Casual Chat

(25:09) Designated Representation

(25:24) Understanding Multiple Representation

(28:59) The Shift to Designated Representation

(32:29) The Concept of Self-Represented Party

(39:12) The Impact of Changes in the Real Estate Industry

(41:51) Closing Remarks and Shout-Outs

Where You Can Find Us

🏡 For all your Toronto Real Estate Needs:

https://www.torontolivings.com/

🖥️ Instagram

Mark Savel: https://www.instagram.com/torontolivings/

Joey Virgilio: https://www.instagram.com/joey_torontolivings/

🎙 Weekly Podcast

https://podcasters.spotify.com/pod/show/toronto-real-estate

In this episode of the Toronto Livings Podcast, we take a closer look at how the real estate market performed in October 2023, in the City of Toronto.

Join hosts Mark Savel and Joey Virgilio as they provide their weekly real estate insights focusing on all things Toronto in Episode 30. They discuss the recent balance in the real estate market, the condo collapse and what it signifies, the potential for a drop in rates, and factors causing a market slowdown as seen in October's numbers. They also touch on topics like rat and bedbug infestations in the city, as well as sharing their personal experiences and tidbits about the Toronto living culture. Tune in to stay up-to-date on the latest real estate trends in the city.

Are you tired of renting and ready to unlock the path to homeownership?

In this podcast, we will guide you through the essential steps to save enough money for your dream home. Our comprehensive guide will provide you with expert tips and strategies to help you master the art of saving for your dream home. Whether you're a first-time buyer or looking to upgrade, saving for a home requires careful planning and financial discipline. We understand the importance of this milestone in your life, and we're here to support you every step of the way.

In this video, we will cover various tried-and-true methods to bolster your savings. From clever budgeting techniques to maximizing your income, we've got you covered. Learn how to minimize expenses, eliminate unnecessary spending, and make the most of your hard-earned money. Discover effective strategies to grow your savings through smart investments, ensuring you reach your homeownership goal faster than ever before.

Additionally, we will discuss potential obstacles that might hinder your progress and provide practical solutions to overcome them. Don't let unforeseen financial challenges stand in the way of your dream home. Together, we'll address these obstacles and keep you on track! Join us as we empower you to take control of your finances and transform your dream home into a reality. Remember, your journey to homeownership starts with the right strategies and unwavering determination. Together, let's unlock the path to your dream home!

1. Set a savings goal and reverse engineer it.

2. Create a budget

3. Bet rid of bad debt

4. Increase Income (play more offense)

5. Automate those savings (and invest)

6. Stay motivated - keep your eye on the prize.

Chapters

Show Notes/Shoutouts:

Alebrijes (ale - bre - jez) Taqueria - 2404 Dufferin St, York, ON M6E 3S8

Beer Town - https://beertown.ca/

Canadian Couch Potato Investing - https://canadiancouchpotato.com/

Dave Ramsey - https://www.ramseysolutions.com/

Where You Can Find Us

🏡 For all your Toronto Real Estate Needs:

https://www.torontolivings.com/

🖥️ Instagram

Mark Savel: https://www.instagram.com/torontolivings/

Joey Virgilio: https://www.instagram.com/joey_torontolivings/

🎙 Weekly Podcast

https://podcasters.spotify.com/pod/show/toronto-real-estate

Mark and Joey from the Toronto Livings Toronto Real Estate Podcast have age-old debate: Is it better to invest in resale properties or opt for preconstruction opportunities? Join us as we explore the pros and cons of both options, empowering you to make an informed decision as a real estate buyer.

Chapters

(0:00) Introduction and Welcome

(0:40) Podcast Hosts Introduction

(1:35) Topic Introduction: Resale vs Pre-Construction

(1:43) How Was Your Week, Where Did You Eat?

(11:14) Toronto's Best Places to Live

(13:55) Bedbugs in Toronto's Public Libraries

(16:49) Resale vs Pre-Construction: Pros and Cons

(42:48) The Hybrid Option: Assignments

(50:52) Conclusion and Shout-Outs

✅ Resale properties bring the advantage of immediate gratification. You can physically inspect the property, ensuring that it meets your requirements and tastes. Additionally, you'll have the opportunity to negotiate on price and potentially save some money. However, keep in mind that resale properties may require renovations, and their prices could be influenced by current market trends.

🏗️ On the other hand, preconstruction properties offer a thrilling prospect of becoming the first resident of a brand-new, meticulously designed home. With cutting-edge features and modern amenities, these properties often provide an ideal blend of convenience, comfort, and contemporary living. Furthermore, purchasing during the preconstruction phase can lead to substantial savings and potentially higher returns on investment in the long run.

❓So, which option is truly the best choice for you as a real estate buyer? It ultimately depends on your unique circumstances, preferences, and financial goals. Consider factors such as budget, desired timeline, personalization options, market conditions, and potential rental income.

📈 At our real estate consultancy, we understand the significance of making the right choice. Whether you're a first-time buyer or a seasoned investor, our experienced team is here to guide you throughout the process and help you navigate the complexities of the resale and preconstruction markets.

🔎 Still undecided? Watch our comprehensive video to gain valuable insights from industry experts and real estate professionals. We delve into the key considerations, potential risks, and rewards associated with both resale and preconstruction properties. By the end of this video, you'll have a clearer vision of which choice aligns best with your aspirations and can make an informed decision as a real estate buyer.

🔔 Don't forget to like, subscribe, and hit the notification bell to stay updated on our latest videos. Share this video with fellow real estate enthusiasts, helping them gain clarity between the resale versus preconstruction dilemma. Feel free to leave your comments or questions below, and we'll be thrilled to address them and engage in meaningful discussions with our growing community.

Show Notes/Shoutouts:

Superkickd Pro Wrestling: https://www.superkickd.ca/

Toronto Life Article - Ranking Torontos Best Neighbourhoods to Live: https://torontolife.com/deep-dives/toronto-neighbourhood-rankings-the-best-places-to-live/

Bed Bug Control and Removal: https://arpestcontrol.ca/bed-bugs-pest-control/

Where You Can Find Us

🏡 For all your Toronto Real Estate Needs:

https://www.torontolivings.com/

🖥️ Instagram

Mark Savel: https://www.instagram.com/torontolivings/

Joey Virgilio: https://www.instagram.com/joey_torontolivings/

🎙 Weekly Podcast

https://podcasters.spotify.com/pod/show/toronto-real-estate

Toronto's Transportation Revolution: The Uber Debate Toronto, a vibrant city known for its diversity and fast-paced lifestyle. But when it comes to transportation, is the city keeping up with the times or too far ahead?

Chapters

(00:00) Introduction and Podcast Kickoff

(0:32) Discussing Uber and City Life

[1:58] The Espresso Experiment

[2:52] Catching Up and Sharing Personal Stories

[3:04] Exploring Toronto's Food Scene

[14:19] The Uber Debate Begins

[15:19] Diving Deeper into the Uber Issue

[19:06] The Impact of Uber on City Life

[35:31] Closing Thoughts and Future Topics

[36.59] Podcast Wrap-up and Shoutouts

For years, Toronto residents have relied on traditional transportation options like taxis and public transit. But with long wait times, high fares, and limited availability, many are left frustrated. Enter Uber, the ridesharing giant that has transformed the way people get around in cities worldwide. With just a few taps on your phone, a reliable and affordable ride is at your doorstep.

But the arrival of Uber hasn't been without controversy. Traditional taxi drivers argue that the ridesharing service is taking away their business and jeopardizing their livelihoods... oh and TRAFFIC, a lot of it!

Taxi drivers claim that Uber operates in an unregulated market, allowing them to offer lower prices and undercut traditional taxis. This, they argue, creates an unfair playing field. In response, taxi drivers have organized protests and strikes, demanding that Uber be banned in Toronto. They argue that their years of training, licensing, and regulations should give them an advantage over Uber drivers. Uber, on the other hand, argues that their service provides a much-needed alternative in a city with growing transportation demands. They emphasize the benefits of flexible working hours and the economic opportunities it brings.

Many Toronto residents appreciate the convenience and simplicity of Uber. They enjoy the shorter waiting times, cleaner cars, and ease of payment that the ridesharing service offers. But others complain about all the extra traffic Uber has brought to the streets of Toronto.

The Uber debate has reached the highest levels of government, with city council members grappling with how to regulate the service. The decision will shape the future of transportation in Toronto. In the last move, City Council voted to freeze the number of Uber and Lyft vehicles on Wednesday. No new licences to private transportation companies will be issued until a staff report on regulating the industry is completed by the end of 2024. Mayor Olivia Chow says the move will benefit app company workers and help reduce emissions.

“We need to put a good system in place so that drivers can make a living,” she says. “We will have a good system without contributing too much on the congestion and greenhouse gas emissions.” Opponents warn the move will only drive up prices and prompt legal challenges from ride-hailing companies.

So, does Toronto need Uber? That's a question that remains unanswered. As the debate rages on, it's clear that the future of transportation in this bustling city hangs in the balance.

Thanks for watching our video on a very contested question: Should Toronto Cancel Uber?

Show Notes/Shoutouts:

RideFairTO - https://ridefair.ca/

Yukashi Toronto - https://www.yukashitoronto.com/

Lardo - https://www.lardo.ca/

BeerTown - https://beertown.ca/

Articles on the citys announcement to freeze new licenses for Uber:

https://driving.ca/auto-news/local-content/toronto-temporary-freeze-new-uber-lyft-licences

https://torontosun.com/news/local-news/uber-canada-and-lyft-not-happy-with-city-of-torontos-cap-on-licences

https://toronto.citynews.ca/2023/10/12/toronto-uber-lyft-rideshare-freeze-city-council/

This month's market report reveals the future of Toronto's real estate market. Watch as Mark Savel and Joey Virgilio unveil the latest trends and predictions for the Toronto real estate market in September 2023 on the TorontoLivings Real Estate Podcast.

As you might have guessed, the Toronto real estate market had a not-so-busy September 2023. In this report, I'll share with you all the latest news and updates about the Toronto real estate market, from price predictions to market trends. Get a glimpse into the future of the Toronto real estate market and find out what happened in September 2023!

Show Notes/Shoutouts:

Bistro Chicken Wings - https://bistroonavenue.com/

SummerHill Market - https://www.summerhillmarket.com/

Where You Can Find Us

For all your Toronto Real Estate Needs:TorontoLivings.com/

Instagram: Instagram.com/TorontoLivings/ and Instagram.com/Joey_TorontoLivings/

We've hit a milestone on our Toronto Real Estate Podcast, and we're celebrating with a host of challenges! From drinking Tim Hortons Espresso, Minerva Sardines, and Jimmy The Rock Gods Hot Sauce. Will Mark and Joey complete these challenging tasks... tune in and find out!

Shoutouts:

Giuletta on College:https://giu.ca/

Lardo on College: https://www.lardo.ca/

Patios on Dundas St. W https://www.patoistoronto.com/

Pai on Duncan: https://paitoronto.com/

Burger Shack on Eglington: https://www.instagram.com/burgershack.to/

Here we go... The August sales numbers were released and as we await September's, we decided to share some insights into what took place throughout the month of August! Spoiler alert, the "White Lotus Effect" may have been in full swing!

Toronto Livings Links

Website:
https://www.torontolivings.com/

Instagram:
https://instagram.com/torontolivings?igshid=YmMyMTA2M2Y=
https://instagram.com/joey_torontolivings?igshid=YmMyMTA2M2Y=

Twitter:
https://twitter.com/savelsells?s=21&t=LFRTuFbiy_mVNuoSlxAIpw

- - -

Others:

Ryus Noodle Bar:
https://ryusnoodlebar.com/

Eataly Toronto:
https://www.eataly.ca/

Is HST increasing in Toronto?? Is the Bank of Canada finally finished with their rate hikes??  Is your rent in jeopardy of increasing $7500 per month next year... you'll just have to tune in this week to find out.  Join us on episode 23 as we dig into three big stories that hit the major news outlets this past week about our fine city!

Toronto Livings Links

Website:
https://www.torontolivings.com/

Instagram:
https://instagram.com/torontolivings?igshid=YmMyMTA2M2Y=
https://instagram.com/joey_torontolivings?igshid=YmMyMTA2M2Y=

Twitter:
https://twitter.com/savelsells?s=21&t=LFRTuFbiy_mVNuoSlxAIpw

- - -