Mississauga Real Estate Board News

Upcoming Webinar: New Matrix System Training (2020-04-01)

 

Join us for a 1 hour webinar intended to update you on the new Matrix website called "itsorealestate.ca". 

This webinar will cover how the combined new Matrix system will differ from the previous 2 systems (Ontario Collective's Matrix system and ORTIS' Matrix system).

It will also inform you on how to transition to the new Matrix site. The good news is that it is still Matrix, so nothing major to learn! But with the combination, there are some field changes and a new look that is important for you to know. Plus, it is a newer version of Matrix that comes with a little bit of cosmetic changes.

Please visit the Matrix News for more information: https://matrix.onregional.ca/

Complimentary for MREB members.




The Canadian Press: Major Canadian landlords say they’ll work with tenants who’ve lost jobs amid COVID-19 (2020-03-31)

Some of Canada’s biggest residential landlords say they’re committed to working with tenants who have lost their job because of the novel coronavirus pandemic. The signals come as efforts to contain the outbreak have led to huge business disruptions and surging unemployment that have made many Canadians worried about how they will pay next month’s rent. The speed of the shutdown in many areas of the economy has meant many people will likely be short on next month’s rent, especially since government programs meant to help those who have lost their job won’t start paying out until April. Read More...




National Post: Close ties between big banks and government get even closer during coronavirus crisis (2020-03-31)

On any given day over the past few weeks, the chief executives of Canada’s biggest banks may have heard their phones begin to buzz. Ah, they might have thought, it’s the government again. After all, Finance Minister Bill Morneau threw down the gauntlet on March 13, saying he had been speaking with the CEOs of the big banks, and that the lenders understood the threat the new coronavirus posed to their customers. Read More...




Mortgage Broker News: COVID-19 pandemic has altered Canadians' home searching habits (2020-03-31)

One in five Canadians will begin looking for new homes again only after the COVID-19 crisis is over, a recent survey has found. The poll conducted by online real estate portal Point2 Homes on 5,000 users also revealed that 44% of Canadians are still confident in the housing market despite the global COVID-19 outbreak. However, 29% admitted that they are bracing themselves for noticeable delays in every step of the home purchasing process. Read More...




Mortgage Broker News: CMHC puts dividends on hold due to COVID-19 menace (2020-03-31)

Canada Mortgage and Housing Corporation (CMHC) has announced that it is temporarily suspending dividend payments amid the coronavirus pandemic. According to CMHC’s Board of Directors, the decision is part of its suite of measures aimed at supporting home owners, multi-unit borrowers, and housing providers during these troubled times. “Temporarily suspending the dividend is a prudent measure that allows us to conserve capital to support Canadians and the economic recovery through the crisis should the need arise. Read More...




CBC News: April 1 is rent day. Here's what you need to know if COVID-19 has you worried about paying (2020-03-31)

For many Ontarians, rent is due on Wednesday, but with so many people out of work because of the COVID-19 pandemic, actually paying seems impossible. In Toronto, 47 per cent of all residents are renters, and the average rent for a one-bedroom apartment in the city is $2,240. That means a lot of people are on the hook to pay rent on Wednesday with little to no means to do it. Premier Doug Ford has reiterated several times in the past week: "No one should be kicked out of their home or rental apartments based on not being able to pay their rent." Read More...




Real Estate News Exchange: Managing apartment lender relationships amid COVID-19 (2020-03-31)

It’s important to recognize lenders are swamped as they deal with the economic ramifications from the COVID-19 pandemic, and there are proper approaches for apartment building owners to take when they deal with them. “Be organized, be positive and be transparent,” SVN Rock Advisors Inc., Brokerage chief executive officer Derek Lobo said early on in a 20-minute webinar on apartment financing on March 27. Read More...




Toronto Sun: Landlords say they're not the enemy (2020-03-31)

Paul Ryder owns a Victorian house with six apartments near Liberty Village. He feels he’s been a good landlord over the 32 years he’s owned the house — having not given rent increases for the first 10 years, on top of charging modest rents. “My tenants are all great,” he said Monday. “Most stay 15-20 years.” Ryder, 69, a retiree who worked at Bell Canada, wrote me Sunday in the wake of my column about tenants being forced to pay their rent April 1. Read More...




Toronto.com: Two towers planned for North York's Weston and Finch area (2020-03-31)

The federal government is financing more than $147 million to construct 514 residential units at 3415 Weston Rd. in North York. The project, by Medallion Corporation, involves the construction of two high-rises – a 30-storey tower with 276 residential units and a 26-storey tower with 238 residential units. The project is being financed through Canada Mortgage and Housing Corporation’s rental construction financing initiative, which supports rental housing construction projects to encourage a stable supply of rental housing. Read More...




MREB Member Benefits: Announcing Exclusive Offer on IXACT Contact (2020-03-30)

A next-generation CRM and Marketing Automation System for Mississauga Real Estate Board Members!

MREB Members can take advantage of over $500 in savings on IXACT Contact, offer effective on April 1st, 2020!
IXACT Contact is a next-generation real estate CRM that gives you all the tools needed to manage your contact information, keep in touch communications, active business, and online presence. All in a single easy-to-use solution. Also, with their Mobile App you can manage your business from anywhere on any device. Try IXACT Contact and experience a new level of success, confidence and career satisfaction.

Subscribe for just $14.99 a month, billed annually.
To Get Started Contact the MREB Office Today: ixact@mreb.ca




The Canadian Press: Realtors turning away sales and adopting new social-distancing measures amid outbreak (2020-03-27)

The coronavirus outbreak is pushing some realtors to turn away all but the most desperate clients, while others are adopting extraordinary measures in an effort to help maintain social distancing and stem the spread of the pandemic...Ontario Real Estate Association president Sean Morrison said the designation of realtors in the province as an essential service means it should be used only when necessary. “This should only be for essential transactions at this point, this is not business as usual.” The association has particularly urged realtors to recommend clients avoid in-person showings when the homes are occupied by tenants, who otherwise often have little say in the matter. Read More...




The Canadian Press: CMHC expanding insured mortgage purchase program to $150B, up from $50B (2020-03-27)

Canada Mortgage and Housing Corp. is expanding its insured mortgage purchase program to $150 billion as part of its response to the COVID-19 crisis. The move to help bolster the financial system is an increase from an initial plan for $50 billion announced March 16. The expansion is part of the emergency measures passed by the government to deal with the fallout of the novel coronavirus and the steps taken to slow its spread. Read More...




The Star: Uncertain future for GTA home construction after strong start to year (2020-03-27)

The home-building industry, like most, is facing the economic uncertainties of COVID-19 but it is coming into the crisis following a particularly strong start to the year in the GTA. New-build, single-family home sales in Greater Toronto rose to the highest levels since 2004 in February — up 228 per cent year over year, as prices declined 2.2 per cent to a benchmark of about $1.09 million. Read More...




Mortgage Broker News: BC, Ontario market performances to boost Canadian housing starts (2020-03-27)

British Columbia and Ontario will be at the vanguard of the nation’s housing starts activity up to at least 2021. In its March 19 Housing Report (Special Issue), Altus Group noted that recovery will be noticeable in BC “as price adjustments persist, mortgage rates remain low, and declining resale inventories provide less competition to the new home sector.” The report has cited lower interest rates at the Bank of Canada as a major influence upon housing starts at the national level. Read More...




Canadian Real Estate Magazine: Millions of Canadians already missing payments due to COVID-19 (2020-03-27)

We are still relatively early in the coronavirus crisis but already many people are missing payments. A new report from insolvency practitioners Bromwich+Smith with Leger Research has found that 49% of households in Ontario and Alberta, and more than half in British Columbians, have suffered an immediate income reduction since the crisis began. The share of households who reported already falling behind with payments on credit cards, utilities, or telecoms is 24% in Alberta, and 19% in Ontario and BC. Read More...




Canadian Real Estate Magazine: Which property segment is most vulnerable to COVID-19 risks? (2020-03-27)

The coronavirus outbreak is taking its toll not just on public health but also on the different sectors that make up the economy — and the property market is no exception. Vishesh Raisinghani, researcher and representative at MarketCurrents, said commercial property is particularly vulnerable to economic shocks brought about by the spread of COVID-19. Read More...




REM Online: Staying ahead of the proptech revolution (2020-03-27)

Can you imagine running your real estate business without the internet or your smart phone? How about no emails, social media or search engines? Many of us also rely on the conveniences of the Internet of Things (IoT) such as Alexa, robotic vacuums or Nest thermostats, which allow us to control things remotely. Welcome to the world of proptech (property + technology), which is loosely described by some experts as the shift in mentality fuelled by these technological innovations. Read More...




CP24: Ontario realtors urged to stop face-to-face business amid pandemic (2020-03-25)

The Ontario Real Estate Association (OREA) is urging Ontario’s real estate agents to stop all face-to-face business amid the COVID-19 outbreak and the subsequent provincial state of emergency declaration. Real estate agents across the province are now being asked to suspend all open houses, agent and public office hours, and in-person showings, particularity of tenant-occupied homes, during the state of emergency. Read More...




Toronto Sun: Real estate brokerage backs off forcing quarantined family to undergo house inspection (2020-03-25)

A Kitchener family who found little protection for their health when they were forced to let interested buyers into their rental home got a last-minute reprieve. James Walker was worried a scheduled home inspection on Tuesday of the house he and his family have been renting would expose his son and wife — who are immunocompromised — to COVID-19. The family of six has been in self-isolation since March 15 and felt at risk after the property owner informed them it had found a potential buyer who wanted to do a three-hour walk-through of the home for four people. Read More...




The Star: Help for Canadian renters and homeowners in the time of coronavirus (2020-03-25)

As we Canadians sit at home with our families, we are all rediscovering the value of sanctuary: of a place to call home. Along with food, water and clothing, shelter is a basic human need. At Canada Mortgage and Housing Corp., our goal is that by 2030, everyone in Canada has a home they can afford and that meets their needs. The coronavirus pandemic only intensifies our focus on the importance of housing. Help is on its way so everyone can take shelter for as long as it takes. Read More...




Yahoo Finance Canada: 'Still thriving': Realtors reboot for a real estate market up against the coronavirus (2020-03-25)

Like many workers in Canada, realtors are shifting how they do business as they adjust to a new reality in the face of the coronavirus. Ontario — one of Canada’s hottest markets — declared realtors an essential service, so they will be exempt from the province’s shutdown to limit the spread of the virus that causes COVID-19. But it’s not exactly business as usual for the province’s realtors. The Ontario Real Estate Association (OREA) asked open houses be put on hold. But people are still buying homes, which means realtors need to get creative. Read More...




Mortgage Broker News: Canadian housing starts to benefit from lower interest rates (2020-03-25)

While the Canadian economy reels from the multiple body blows of the COVID-19 outbreak, lower interest rates will shield national housing starts from the uncertainty brought about by the pandemic – for the time being, at least. In a “Special Edition” report released on March 19, Altus Group said that the Canadian central bank’s decision to cut short-term rates will serve as a potentially valuable buffer against the worst impacts of the coronavirus. Read More...




Real Estate Professional: How life has changed for realtors since COVID-19 (2020-03-25)

When February’s sales stats started trickling in at the beginning of March, COVID-19 had yet to truly announce itself in Canada. The only factors limiting sales in a number of markets were a shortage of available properties and prices that started their spring surge months ahead of schedule. Now, not even three full months into 2020, the world is confronting a black swan event that has wrapped its wings around the entire planet, stifling the global economy. Read More...




CBC News: 'Starting to panic': Landlords fear they won't be helped if tenants don't pay rent amid COVID-19 (2020-03-25)

When Margret Curlew found out that Canada's big banks were offering mortgage deferrals of up to six months, she reached out to her lenders, knowing that some of her tenants were going to have trouble making April's rent amid the COVID-19 pandemic. But, she says, the banks denied her. "They all said, 'Oh no no' this is only for your principal residence," said Curlew, who owns several homes around the Golden Horseshoe. Read More...




The Globe and Mail: Ontario development industry deemed essential under coronavirus restrictions (2020-03-25)

Ontario has decreed that residential construction is among the essential businesses in the province that will be allowed to stay open while many other enterprises must close to combat the coronavirus pandemic. On Monday, Premier Doug Ford announced his government would order the mandatory closure of thousands of non-essential workplaces. In the list of “Essential Workplaces” the province published hours after the announcement, sectors vital to the maintenance of life were prominent, but so too were workers on “critical provincial infrastructure” such as transit, transportation, energy as well as industrial, commercial and institutional builders. Read More...




The Star: Rents could drop 5 per cent — and vacancy rates might climb — in Toronto this year (2020-03-25)

Toronto could be a more comfortable place for tenants by the end of the year, even if the COVID-19 precautions slow down work at some construction sites, says the president of Urbanation, a market research firm which tracks development. Shaun Hildebrand said condo rents could decline by as much as five per cent this year, retreating to 2018 levels. That’s about $100 less than the current average of about $2,400 a month. Read More...




Global News: Toronto announces measures to help those who are homeless, in community housing (2020-03-25)

The City of Toronto has unveiled measures aimed at helping those who are homeless and those who live in affordable housing amid the ongoing coronavirus outbreak. In a statement released on Tuesday, City staff said to date two people in the Toronto shelter system have been diagnosed with COVID-19. Officials said the two cases aren’t connected and both people are recovering in isolation. Municipal staff are currently trying to determine who came into contact with the two people. Read More...




RECO: Guidance on Showings and Open Houses (2020-03-25)

Health authorities have provided important guidance to help contain the spread of the COVID-19 virus, directing that people minimize opportunities for transmission of the virus through direct physical interaction. Conventional open houses, which involve in-person viewing of the property and direct physical interaction with salespeople and other prospective buyers, are the types of activity health authorities are directing be ceased.  Read More... 




The Canadian Press: Trudeau points to bailout for help for renters facing financial crunch (2020-03-24)

Prime Minister Justin Trudeau is pointing to tomorrow's legislative bailout package as a way to help renters affected by COVID-19. The Liberals are asking the opposition parties and Senate to rapidly approve a $27-billion spending package, with a further $55 billion in tax breaks and available credit. Speaking outside his Ottawa residence, Trudeau says the legislative package would allow the government to quickly get money into pockets of Canadians who need the help paying their bills, such as rent. Read More...




BNN Bloomberg: 'If you need help, you will get help': CMHC's promise to homeowners with mortgages (2020-03-24)

BNN Bloomberg speaks with Evan Siddall, president and CEO of Canada Mortgage and Housing Corporation. Read More...




Better Dwelling: Canadian HELOC Borrowing Was Grinding To A Halt Before The COVID-19 Crisis (2020-03-24)

Canadian homeowners were buckling down on the spending ahead of the pandemic. Office of the Superintendent of Financial Institutions (OSFI) data shows the balance of loans secured by residential real estate, such as HELOCs, made a tiny move in January. The movement, the weakest in over half a decade, saw the balance fall from all-time highs. Read More...




Canadian Real Estate Magazine: Real estate in the time of COVID-19 (2020-03-24)

When CREW was putting together its most recent Property Forecast issue last fall, every economist we spoke to hinted at the potential for a recession in 2020. Trump-fuelled trade uncertainty would be the most likely culprit and the effects, while uncomfortable, would be minimal. Now, not even three full months into 2020, the world is confronting a black swan event that has wrapped its wings around the entire planet, suffocating the global economy. Read More...




The Star: COVID-19 is squeezing renters. It’s time for Ottawa to step up (2020-03-24)

There’s been help offered for homeowners, help for the unemployed, help for small businesses — hundreds of billions of dollars in subsidies, supports and tax breaks, with much more to come as Ottawa tackles the current economic crisis. But there are many people who are still at risk of quickly falling through the cracks that have opened in Canada’s economy during the COVID-19 pandemic: tenants, especially those with low incomes. For them, the help is not coming fast enough. Read More...




The Star: Prices continue to soar in Toronto real estate market — despite COVID-19 crisis (2020-03-24)

After 27 years, Mike and Andrée Sullivan expect to list their four-bedroom century home in Weston on Thursday — just as they had planned before a pandemic rolled right into the real estate’s sector’s busy spring season. It’s a bold move, but not a crazy one. To many people’s surprise, Toronto’s real estate market is showing few signs of slowing down, despite the mounting crisis. In fact, house prices are continuing to trend up — 14.5 per cent year over year so far this month, according to John Pasalis, the statistic-tracking president of the Realosophy brokerage in Leslieville. Read More...




The London Free Press: Social distancing part of home buying, selling in COVID-19 era: London-area real estate pros (2020-03-24)

How do you buy and sell houses in the coronavirus era? Very carefully, sometimes virtually — and, for now, minus the deal-sealing handshakes. “One of our agents is showing a condo apartment and let the clients go up in the elevator first and said, ‘I’ll meet you up there,’” said Troy Couwenberghs, a broker with Re/Max Advantage Realty. “Re/Max has supported closing down open houses, but they’re still going on. If the seller doesn’t want one, there isn’t one. Read More...




Government of Ontario: List of Essential Workplaces & Services (2020-03-24)

In response to COVID-19, the Province has released a list of essential workplaces considered “essential services” under the provincial shutdown that takes effect at 11:59 pm on Tuesday, March 24, and is expected to last for at least 14 days. Realtors, Lawyers, Movers and Land Registration services are considered essential services by the Province of Ontario. Read More...




CBC News: Ontario Real Estate Association calls on agents to stop open houses amid COVID-19 outbreak (2020-03-23)

The Ontario Real Estate Association (OREA) has asked all of the province's realtors to immediately stop hosting open houses during the COVID-19 outbreak. "I am calling on all realtors to cease holding open houses during this crisis and advise their clients to cancel any that are planned," said Sean Morrison, OREA president, in a statement. The call comes as a response to Ontario's State of Emergency and the provincial and federal governments' continual encouragement for social distancing. Read More...

 

Additional COVID-19 and Open Houses news coverage below.




Global News: What will happen to Canada’s housing market amid the pandemic? (2020-03-23)

As the novel coronavirus pandemic forces parts of the economy to shut down, the snow is melting in areas of Canada in what’s normally a prelude to the busiest weeks of the year in real estate. But will the health emergency freeze the spring housing market? So far, it’s hard to tell. Real estate is what economists call a “lagging indicator,” notes Romana King of Zolo.ca, meaning that, usually, it takes a while for economic trends to be reflected in housing market data. Read More...




CBC News: Here's what's available to help Ontario renters through COVID-19 (2020-03-23)

In Toronto, a city where 47 per cent of people rent, many are wondering what to do when April 1 arrives and their rent is due. On Wednesday, Prime Minister Justin Trudeau announced $82 billion in aid for families and businesses during the COVID-19 pandemic. Homeowners were given the option to defer their mortgages for up to six months. But because they don't pay a few large corporations in the same way homeowners pay a few banks, renters don't have a similar option. Read More...




Postmedia: CMHC convenes Crisis Management Committee to monitor virus (2020-03-23)

A message from Evan Siddall, president and CEO, Canada Mortgage and Housing Corp. (CMHC). Like many other government organizations, we are monitoring developments around COVID-19. Our primary focus remains the health and safety of our staff and ensuring the continuity of our operations. While the situation continues to evolve, we do not foresee an impact on our operations nor on our role in supporting financial stability through the provision of mortgage funding. Read More...





  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
  • Picture
Mississauga Real Estate Board
3450 Ridgeway Dr #1
Mississauga, ON L5L 0A2, Canada
Phone: 905.608.6732
Fax: 905.608.9988