Team Khan REMAX

Excited for the group at Forest Hill in Pickering and Thornhill coming over to the RPP family.

We are excited to announce that Asif Khan, Helen Liu and Daniel Wong, Broker/Owners of RE/MAX Prime Properties in Toronto, ON have acquired two Forest Hill Real Estate offices!

Please join us in congratulating Asif, Helen, Daniel and the entire RE/MAX Prime Properties team on this new expansion!

https://agentbrokerhub.remax.ca/re-max-prime-properties-acquires-two-forest-hill-real-estate-offices/

Ever wonder about how they come up with weather forecasts? David Phillips, senior climatologist at Environment Canada, said the Farmers’ Almanac’s method of predicting weather is really more like “throwing darts at a dartboard.”

“It’s not science,” he said. “It’s more astrology rather than astronomy, kind of thing. If you take one of the things they base their predictions on—sunspots—well, people have correlated sunspots with everything from church attendance to venereal disease. It’s one of those things people gravitate to in order to explain events using pseudo-science.”

According to Phillips, any kind of accuracy the Farmers’ Almanac may have each year is simply because its predictions are never completely out of left field.

“They know enough about the climate to know that [certain] things are impossible,” he said. “To say that you’re going to get, from Chicago to Montreal, a snowstorm between Christmas and New Year’s—well, they’re probably going to be right.”

“They don’t give specifics where they could really be marked on their accuracy—and in the end, the media tends to always focus on when they get it right rather than when they get it wrong,” Phillips added.

This week I was in Florida to meet with some award winning RE/MAX owners. Weather forecast for Wednesday was 29°C and a 90% chance of rain.
It turned out to be a gorgeous sunny day! When I checked the forecast on the news that morning, the weather guy had it right. He said it was absolutely gorgeous out. But what about the almanac and the subsequent prediction of rain? Climatologists and meteorologists are pretty smart people. They predicted rain!! We need to believe them right? I guess the guy in the streets had it right after all. He was in touch with reality and didn’t let forecasts sway his reporting.

Why is this even important? Who cares if it rained or not? Well here’s the thing.

Economists take historical data and refer back on certain situations to come up with predictions for the real estate market. They’ve recently said the market will crash and burn. The bottom is falling out. Interest rates will hit 8-9% before we see the bottom of the market. People are listening to these economists who must write for the “Real Esfate Almanac” and believing it like gospel. The Realtor that’s in the trenches and telling you what’s actually happening out there right here, right now, has a different view. They’re seeing the return of normal interest rates. They’re seeing the impact of critically low inventory levels. And now they’re seeing the pent up demand come back into the market. There are multiple offers on properties, bidding wars and unconditional offers are back in play. The market is heating up again as consumer confidence flows from the BOC’s announcement that they’re done with rate hikes for now. This is the reality of the market right now. Have a chat with the weather reporter standing out on the street for the real deal on what to expect. Have a chat with the ACTIVE Realtor that’s working in today’s real estate environment for the true picture of how the market is reacting. Economists predict based on hypothetical assumptions based on historical data. Realtors are boots on the ground seeing the changes first hand. Talk to your Realtor about Real Estate!

Team Khan REMAX updated their business hours.

Core values are deeply ingrained principles that serve as cultural cornerstones. At RE/MAX Prime Properties, we can proudly say that our agents live and breathe our Core Values and help us preserve the great culture that we’ve become known for. One of our Core Values is giving back. The generosity that our agents show in taking a portion of their income and donating it to help greater causes is heart warming. One cause we support is The Children’s Miracle Network. In 2021, our agents elevated their game. As always, they gave with all their heart. Together, they made a $52,395 donation to Children's Miracle Network Canada and SickKids Foundation. Together, they helped save lives, find cures, and brought hope to families that rely on life saving procedures for their children. I am so proud of this group! Thank you to everyone at RE/MAX Prime Properties and RE/MAX Prime Properties Unique Group for your generosity. A huge thank you to all our clients for allowing us the opportunity to give back. We could not do this without your support. ❤️

Honoured and excited to be taking RE/MAX Prime Properties into Toronto! RPP has acquired RE/MAX Unique, an iconic Toronto Brokerage led by John Meehan, past president of the Toronto Real Estate Board. Dan, Helen and I are excited to help work with the agents at Unique and set the standard for Toronto Brokerages. Let’s Go!

RE/MAX Prime Properties Joins Forces With RE/MAX Unique Inc. We are excited to announce that Asif Khan, Broker/Owner of RE/MAX Prime Properties, along with Helen Liu and Daniel Wong, have acquired RE/MAX Unique Inc. RE/MAX Prime Properties will be taking ove…

Honoured to see that Real Estate Magazine Online featured “The Response” video today!
Thank you to all my colleagues who shared, commented and liked the video.
A clear message to the members of the media that had anything to do with this recent CBC witch hunt: Our collective goal is to uphold professional standards and serve our clients with the utmost care and transparency. We will not tolerate blatant attacks on our industry’s credibility.

https://www.realestatemagazine.ca/debunking-the-cbc-marketplace-report-on-agents-breaking-the-law/

Debunking the CBC Marketplace report on agents ‘breaking the law’ | REM | Real Estate Magazine In this video, I take a hard look into CBC’s hidden camera investigative report about “law breaking” Canadian real estate agents.

What does $1M get you in the GTA?

https://storeys.com/detached-home-sales-gta-trreb-million-dollars/

Buyers Now Need at Least $1M to Buy a Detached Home in 97% of the GTA With inventory constraints felt across most of the GTA, detached home sales are driving prices above $1 million in 97% of the GTA.

Starting tomorrow at 8 A.M., adults 18+ in these postal codes in can book a appointment:
L0J, L3S, L3T, L4B, L4E, L4H, L4J, L4K, L4L, L6A, L6B, L6C, L6E
You can book through the provincial system or through York Region Public Health's system.

So much pre-budget speculation around changes to the capital gains tax exemption, changes to lending policies and much more prior to the being released. Is for on the horizon? read more ... https://asif.homesearchpros.com/blog.php

Federal Budget Disappoints Canadian Home Buyers So much speculation around changes to the capital gains tax exemption, changes to lending policies and much more prior t

It’s National Take Out Day Canada!! And we have a take out challenge for you! Help Canada set a take out order record today and enter to win one of three $100 gift cards for your next take out order. Here’s what you need to do.
1. Order take out from your favourite restaurant.
2. Send a short review on your restaurant of choice, along with a copy of the receipt, to [email protected]

Winners will be drawn on Saturday April 17th and notified by email/phone.

Happy eating!

We’ve all heard the Toronto Real Estate numbers for March, and to call this a “hot market” would certainly be an understatement. 15,652 transactions for the month of March 2021. Even in 2016, the hottest year on record, we did not attain these types of sales numbers in a month. Over FIFTEEN THOUSAND transactions last month!! To put this into perspective, the first quarter of 2020 was HOT, albeit that quarter took a huge hit in the last 15 days of March due to the Covid shutdowns. But still, we had 19,683 sales in Q1 2020. The best year on record for Toronto Real Estate, as mentioned above, was 2016. 113,040 transactions were recorded that year. Q1 of that year saw 22,483 sales take place. The second busiest year in history was 2015, where we saw 101,214 transactions for the year. Q1 of that year had 19,498 transactions. How did Q1 of 2021 rank? 33,503 transactions in Q1 of 2021. No, that’s not a typo, we had over THIRTY THREE THOUSAND transactions in the first three months of 2021. This has people in a frenzy about the housing market and once again the calls to slow it down have started. There is talk of CMHC asking for an increase in the qualifying rate AGAIN to slow down he market. WHY? We already tried to choke off demand in 2017. How did that work out? The problem is NOT demand. The problem is SUPPLY!! Why is this so hard for the governments to understand? Yet they feel they should strangle buyers rather than increase supply which would automatically decrease competition and thus the average price points.

So, where do we go from here?

Next month, we will again get bombarded with stats that show an “overheated” housing market. This will not be anywhere close to the true picture. Last April, we saw 2,957 transactions. The entire planet was pretty much shut down. Same for May, we saw only 4,594 transactions. June of last year saw 8,648 transactions. Typically you’d see about 11,500 transactions per month during these three months. This is traditionally the busy Spring Market for Real Estate. Let’s look at Q2 of 2020. We only had 16,199 sales for the entire second quarter. This year, you’ll see a more traditional second quarter. Thus, if we have about 36,000 sales in Q2, we will be up 122% in units sold April to June. YTD after the first half of the year, we will see approximately 70,000 transactions and be up almost 100% in units sold over the same period in 2020. These numbers will create havoc with analysts and economists who will start predicting the greatest crash in Real Estate history. To bring some calm to this craziness, you cannot compare this Q2 to last year’s Q2. In fact, last year’s Q2 should not be used as any type of comparable. It was an anomaly. As we settle in to a “normal” real estate year for transactions, we will start to see declining sales numbers for the last two quarters, as they will be compared to Q3 and Q4 of 2020 where pent up demand caused sales to spike. The declining numbers in Q3 and Q4 should not be considered a “cooling off” or “bursting bubble”. It’s just a return to normal for the Real Estate Market.

At the start of the year, I had predicted that 2021 would compete with 2015 as the second busiest year in Toronto Real Estate history wth approximately 103,000 to 104,000 transactions, and possibly compete for top spot if borders open up and foreign buyers return to the market. I still believe we will finish the year in second place, if all things remain the same. The strength of the first quarter may see us push hard for top spot, even without foreign activity. We may beat my initial predictions and finish around 109,000 transactions for 2021. Analysts, economists and the government need to stay away from trying to artificially alter market dynamics. The market is a supply and demand equation. Until they understand that, all they will do is create unnecessary hurdles that will prevent many Canadians from achieving their dream of home ownership. What we need from the government now, more than ever, is an influx of supply. More homes on the market means less competition for homes. This results in more of a balance, which reduces bidding wars and brings a level of affordability to allow more people to enter the market.

We would like to thank everyone for their trust and support in 2020. What a tremendous year it was for GTA Real Estate. Together we completed 2020 as the #23 RE/MAX Residential Team (Owners); #8 in Ontario and #3 in York Region. Thank You!