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Toronto Real Estate Market Update for January 2024 | Episode 41

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In this week’s episode, realtors Mark Savel and Joey Virgilio discuss the latest happenings in Toronto’s real estate market with their January market update.

They also share Toronto Real Estate Board’s 2024 predictions on sales and average prices and compare the predictions with their own market insights. Additionally, they delve into interesting topics such as cloning pets, food, and the shows they’re currently enjoying. Tune in for a blend of real estate market commentary, lively cultural discussions, and general banter.

(00:00) Introduction and Casual Banter
(01:32) Food Talk: Dining Experiences and Recommendations
(07:45) The Art of Cooking and Food Appreciation
(11:17) News You Can Use: Cloning Pets and More
(19:38) Market Update: January Review
(21:00) Discussing Predictions and Numbers
(21:04) Sales Predictions for 2024
(21:47) Comparing Past Sales and Predictions
(22:38) Sales in 2021 and Predictions for 2024
(23:16) Predictions for Average Price
(23:56) Market Vibe Check and Bidding War Stories
(25:03) Current Market Outlook
(32:44) Sales in the 416
(35:35) Price Trends and Predictions
(37:52) Months of Inventory Analysis
(40:28) Final Thoughts and Predictions

Where We Ate

Molkagtez Mexican Cuisine (1263 Queen St. W) 

Adrak Yorkville (138 Avenue Rd)

Where You Can Find Us

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

🖥️ Instagram
Mark Savel: https://www.instagram.com/torontolivings/
Joey Virgilio: https://www.instagram.com/joey_torontolivings/

Bidding Wars ARE BACK in the Toronto Real Estate Market | Episode 40

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In this episode of the Toronto Livings Real Estate Podcast, hosts Mark Savel and Joey Virgilio discuss effective strategies for buyers in Toronto’s bidding wars, the importance of writing love letters to potential sellers, and the surprising news about Luigi Hamilton joining Ferrari in the F1 season.

They also delve into the rise and importance of virtual staging in the housing market. Joey provides a live taste test of his homemade bread, leading to an unexpected computer malfunction. Lastly, they discuss current hot market trends and emphasize that price isn’t the only factor that can help secure a deal in the heated bidding war situation.

(00:00) Introduction and Welcome
(01:29) Celebrating Episode 40
(01:49) Joey’s Bread-Making Journey
(03:55) Bidding Wars in Toronto’s Real Estate Market
(04:14) Food Adventures and Weekly Recap
(11:31) News You Can Use: Property Tax and World Cup
(15:38) Groundhog Day and Foreign Buyer Tax
(23:50) Bidding Wars are Back
(29:43) Strategies for Bidding Wars
(33:50) Importance of Pre-Approval and Home Inspection
(35:23) The Role of a Realtor in the Buying Process
(35:52) The Impact of Deposit on Property Purchase
(44:23) The Power of Love Letters in Property Purchase
(49:02) Closing Remarks and Personal Stories

Where You Can Find Us

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

🖥️ Instagram
Mark Savel: https://www.instagram.com/torontolivi…
Joey Virgilio: https://www.instagram.com/joey_toront…

The Toronto Vacant Home Tax Explained | Episode 39

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Confused about the Toronto Vacant Home Tax? In this podcast, we’ll explain everything you need to know about this tax and how it affects the real estate market in Toronto.

As a Toronto real estate investor, you’ll want to stay informed about any changes or taxes that may affect your properties. Our podcast breaks down the vacant home tax and what it means for the city and the real estate industry. Don’t miss this important information if you’re investing in Toronto!

With the Toronto housing market constantly evolving, it’s essential to stay updated on the latest regulations and policy changes. Among these changes, the introduction of the Toronto Vacant Home Tax stands out. This tax applies to homeowners who leave their homes unoccupied for six months or more within a year. Today, we’re taking a deep dive into the details of this tax, from its purpose to potential penalties.

Chapters

(00:00) Introduction and Episode Start
(00:46) Welcome to the Toronto Livings Podcast
(03:05) Weekly Updates and Food Adventures
(04:26) The Buffalo Bills Game Experience
(14:13) News You Can Use: Bank of Canada Announcement
(17:46) Inflation Situation in Turkey
(19:32) Upcoming Listing in Maple
(20:58) Discussing Property Pricing and Rental Opportunities
(21:06) Highlighting a New Rental Property
(23:03) INTRODUCTION TO VACANT HOME TAX REMINDER
(23:16) Deep Dive into Vacant Home Tax
(28:11) Penalties and Exemptions of Vacant Home Tax
(42:45) Closing Remarks and Future Plans

FILL OUT THE VACANT HOME TAX

Where You Can Find Us

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

🖥️ Instagram
Mark Savel: https://www.instagram.com/torontolivings/
Joey Virgilio: https://www.instagram.com/joey_torontolivings/

An Interview With Toronto Mortgage Broker: Chris Molder | Episode 38

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Split into two parts, this podcast includes lively discussions with seasoned Toronto mortgage broker, Christopher Molder, who discusses the impact of pessimism, social media, and the ‘seduction of pessimism’ on investment decisions and the Toronto property market’s perception.

The latter part of the video features expert perspectives on the Canadian real estate forecast for 2030, emphasizing the projected 3.5 million home shortfall. They delve into past and future home construction statistics and discuss possible innovative solutions like zoning changes and advanced construction techniques. Despite seeming bleak, optimism remains for real estate market growth and they forecast potential price appreciation in Toronto come 2024.

(00:00) Introduction and Episode Overview
(00:43) Welcome to the Toronto Livings Podcast
(01:21) Special Guest Introduction: Christopher Molder
(02:00) Food Talk: Favorite Eateries and Baking Adventures
(06:10) Getting to Know Chris: Personal Life and Career
(13:00) The Power of Pessimism in Market Analysis
(13:21) The Impact of Inflation and Economic Changes
(23:06) The Evolution of Social Media and Public Discourse
(31:14) The Seduction of Pessimism
(32:30) The Power of Optimism
(36:14) The Impact of Pessimism on Decision Making
(36:37) The Elephant Parable: Understanding Different Perspectives
(37:43) Toronto Real Estate: A Closer Look
(38:42) The Deferral Cliff and Its Impact
(39:40) The Elephant and the Housing Market
(42:18) The Future of Toronto Real Estate
(43:34) The Reality of Housing Affordability
(44:26) The Future of Interest Rates
(46:21) The Impact of Population Growth on Housing
(48:53) Predicting the Future of Toronto’s Housing Market
(50:33) Conclusion: The Optimistic Outlook

Christopher Molder from Tridac Mortgage – https://tridacmortgages.com/about/team/

Where You Can Find Us

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

🖥️ Instagram
Mark Savel: https://www.instagram.com/torontolivings/
Joey Virgilio: https://www.instagram.com/joey_torontolivings/

🎙 Weekly Podcast

The City of Toronto is Proposing at 10.5% Property Tax in 2024 – Lets Explore The Details | Episode 37

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Toronto Real Estate Deep-Dive: Understanding Property Taxes & the City’s Revised Budget

Mark and Joey, deep dive into the impact of property tax on homeowners and renters, explaining how it funds essential services like public transit and emergency responses.

The duo explains how this preliminary budget gets created, the process of what comes next, and why so much of a hike is being proposed.

(00:00) Introduction and Welcome
(00:08) Discussing Property Taxes
(01:11) Introduction to the Toronto Livings Podcast
(04:11) Personal Experiences and Healthy Living
(07:29) Exploring Pop Culture
(12:52) News You Can Use: Property Tax and Savings
(16:57) Discussing Traffic and Daylight Savings
(21:26) Deep Dive into Property Taxes Continues
(27:30) The Need for Increased Service Funding
(28:24) Understanding the Basics of City Budget
(29:12) Breaking Down the Budget Components
(30:43) The Legal Constraints of City Budget
(31:30) The Role of the Budget Committee
(31:50) The Process of Budget Consultation
(32:38) The Potential Impact of the Proposed Budget
(34:05) The Reality of Property Taxes
(35:15) The Importance of Government Funding
(36:20) The Impact of the Budget on Shelter and Housing
(49:35) The Role of Land Transfer Tax in City Budget
(01:03:26) The Future of Toronto’s Budget

Where You Can Find Us

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

🖥️ Instagram
Mark Savel: https://www.instagram.com/torontolivings/
Joey Virgilio: https://www.instagram.com/joey_torontolivings/

🎙 Weekly Podcast

#propertytax #torontorealestate #torontopodcast

Hot or Cold? December 2023 Toronto Real Estate Market Update | Episode 36

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The Toronto Livings Podcast Episode 36: A New Year, A New Theme Song and A 2023 Real Estate Market Recap

In the 36th episode of the Toronto Livings Podcast, hosts Mark and Joey discuss the new theme song for the show, their New Year’s plans, and a recap of the 2023 Real Estate Market. They further discuss the market activity for December in Toronto and multiple news topics such as rising ticket penalties for speed, a subway fire due to an e-bike malfunction, and misprinted street signs in Toronto.

(00:00) Introduction and New Theme Song
(00:24) Reflecting on 2023 and New Year’s Plans
(00:51) Welcome to the Toronto Livings Podcast
(01:25) New Year’s Celebrations and Experiences
(04:21) Dietary Changes and New Year’s Resolutions
(05:16) New Year’s Eve Experiences and Future Plans
(10:01) Reflecting on Podcast Appearances and Future Changes
(12:37) News You Can Use: Traffic Updates and Mean Girls Mansion
(23:47) December Market Update
(26:16) Holiday Season and Real Estate Market Slowdown
(26:33) Drastic Drop in New Listings
(26:59) Real Estate Market Strategies and Anomalies
(27:10) New Year’s Eve Real Estate Adventures
(27:35) The Mystery of New Year’s Eve Listings
(28:40) Active Listings and Market Trends
(29:14) Average Prices and Market Misconceptions
(30:00) Days on Market and Market Slowdown
(31:07) Bank of Canada’s Decision and Market Predictions
(31:29) Market Trends and the ‘Santa Pump’
(32:12) Inventory Analysis and Market Predictions
(33:27) The Stanley Water Bottle Discussion
(35:25) Sales Analysis and Market Trends
(38:06) Price Analysis and Market Trends
(43:40) Months of Inventory and Market Trends
(48:12) Final Thoughts and Predictions for the New Year

Shoutouts:

https://reidsdistillery.com/

Where You Can Find Us

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

🖥️ Instagram
Mark Savel: https://www.instagram.com/torontolivings/
Joey Virgilio: https://www.instagram.com/joey_torontolivings/

 

The Working Wives of Toronto Livings – Living with a Realtor | Episode 35

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A behind-the-scenes look at living with a Toronto Realtor. Get a glimpse into the dynamic relationship of Mark Savel and his partner, Adriana S. Our hosts delve into candid discussions about the blend of their professional and personal lives, with insightful and amusing anecdotes, tips about financial management, interesting details about their social media strategy, and a peek into the living culture of Toronto. The podcast promises a hearty blend of life, love, and property, drawing from the unique experiences of the couple, balancing their thriving careers in real estate while ensuring a fulfilling personal life.

Chapters

(00:01) Introduction and Episode Overview
(00:42) Meet the Hosts: Mark and Joey
(01:23) Special Guest Introduction: Adriana S.
(01:57) Adriana’s Experience with the Podcast
(02:33) Adriana’s Week and Food Experiences
(02:51) Mark and Joey’s Week and Food Experiences
(11:44) Discussion on Mortgage Rates
(14:17) Debate on Renaming Dundas Square
(23:08) Transition Time
(24:26) The Beginning of Their Love Story
(25:43) The First Date and Early Relationship
(27:17) The Proposal and Wedding Plans
(27:35) The Depth of Their Connection
(31:58) The Challenges and Benefits of Being a Realtor’s Partner
(40:58) The Importance of Communication and Shared Calendars
(46:55) The House Hunting Experience
(48:40) The Decision to Buy a Loft
(01:00:33) Reflecting on Past Decisions
(01:00:42) The One That Got Away: A Missed Real Estate Opportunity
(01:03:02) Balancing Risk and Reward in Real Estate
(01:07:06) The Importance of Financial Planning and Budgeting
(01:17:16) The Role of Social Media in Business
(01:23:24) The Story Behind the Nicknames
(01:29:45) Looking Forward: Plans for the Podcast

Where You Can Find Us

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

🖥️ Instagram
Mark Savel: https://www.instagram.com/torontolivings/
Joey Virgilio: https://www.instagram.com/joey_torontolivings/

🎙 Weekly Podcast

Navigating the Toronto Real Estate Market in November 2023: What You Need to Know | Episode 34

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In this episode of the Toronto Livings Real Estate Podcast, hosts Mark Savel and Joey Virgilio share insights on the November real estate market update.

They delve into Toronto's real estate market, the culture, and food and lifestyle topics related to life in Toronto. The hosts discuss the Bank of Canada's rate hike announcement, the current state of the city's real estate market, and recent trends in sales, purchases, and active listings.

Additionally, they touch on personal experiences with holiday festivities and highlight some key shout-outs and mentions from Spotify podcasts listeners. The episode takes a fun, conversational approach to exploring Toronto's ever-changing real estate landscape.

Chapters

(00:00) Introduction and Welcome
(00:07) Discussing the November Market Update
(00:24) Holiday Party and Food Experiences
(00:38) Bank of Canada's Rate Hike Announcement
(00:41) Shout Outs and Christmas Celebrations
(00:54) Toronto Living's Podcast Introduction
(01:26) Christmas Decorations and Celebrations
(03:34) Recap of Sage's Annual Christmas Party
(05:38) Party Shout Outs and Aftermath
(13:25) Uber Eats Experience and Food Discussion
(17:53) Bank of Canada's Rate Decision
(19:24) Uber vs. City of Toronto
(23:13) Spotify Wrap Up and Listener Shout Outs
(27:34) Discussing Listener Engagement
(27:47) Appreciating Loyal Listeners
(28:10) Personal Anecdotes and Listener Connections
(28:57) Transitioning to Main Topic
(29:46) Analyzing November Market Numbers
(30:18) Reflecting on Market Trends
(30:32) High-Level Market Overview
(30:38) Sales Analysis
(31:20) Inventory Analysis
(34:14) Price Analysis
(36:26) Months of Inventory Analysis
(48:40) Christmas Wishes and Personal Stories
(54:56) Wrapping Up and Shoutouts

Where You Can Find Us

🏡 For all your Toronto Real Estate Needs: 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

#torontorealestate #torontopodcast #realestatepodcast

Prepare Yourself: The Bold 2024 Real Estate Predictions for Toronto | Episode 33

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In episode 33 of Toronto Livings Real Estate Podcast, hosts, Mark Savel and Joey Virgilio provide their predictions for the real estate market in Toronto for 2024.

They particularly focus on real estate sectors such as detached houses, semis, towns, and condos. The conversation extends to include updates about changes in the Trust In Real Estate Services (TRESA) act and influences of AI in real estate.

They also delve into their personal lives, sharing their fondness for aquariums, rocks, plants and their future plans of inviting guests to the podcast, including celebrities, chefs, pro athletes and family members. The episodes cover a mix of professional insights, personal experiences, future goals and appreciation for their fan base.

Chapters

(00:00) Welcome and Introduction
(01:12) Joey’s Return from Mexico
(01:47) Joey’s Mexico Trip Recap
(02:38) Jellyfish Encounter in Mexico
(05:34) Food Experiences in Mexico
(07:31) Back to Work After Vacation
(07:39) Toronto Food Scene Discussion
(10:21) Real Estate Market Update
(10:25) Predictions for 2024
(10:25) Predictions for Real Estate Market in 2024
(11:18) News You Can Use Segment
(28:48) Discussion on Condo Market
(30:33) Concerns About Pre-Construction Market
(32:21) Discussion on Variable Rates and Real Estate Developers
(32:49) Impact of High Rates on Real Estate Market
(33:37) Predictions for Real Estate Market in 2024
(33:49) Debate on Best Performing Real Estate Segment
(34:37) Impact of Airbnb Restrictions on Condo Market
(34:58) Changes in Rental Prices and Market Trends
(37:10) Predictions for Detached House Prices
(39:04) Discussion on Real Estate Market Anomalies
(42:22) Impact of Tressa on Real Estate Market
(47:08) Discussion on AI in Real Estate
(55:35) Personal Goals and Plans for 2024

Where You Can Find Us

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

🖥️ Instagram
Mark Savel: https://www.instagram.com/torontolivings/
Joey Virgilio: https://www.instagram.com/joey_torontolivings/

🎙 Weekly Podcast

Show Notes/Shoutouts:

Where You Can Find Us

🏡 For all your Toronto Real Estate Needs:

New Home Page 2023

🖥️ Instagram
Mark Savel: https://www.instagram.com/torontolivings/
Joey Virgilio: https://www.instagram.com/joey_torontolivings/

🎙 Weekly Podcast

How Will Ai (Artificial Intelligence) Transform Real Estate | Episode 32

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

In Episode 32 of the Toronto Livings Podcast, hosts Mark Savel and Joey Virgilio delve into the impact of artificial intelligence (AI) on the real estate industry.

They examine the changes AI brings such as improved property searches, valuations, marketing strategies and process automation, and potential risk of AI outsmarting humans. They also share their insight on AI's assistance in creating content, business plans, creative messaging and discuss the ethical implications.

The hosts explore the controversial issue of AI replacing human jobs and stress the need for human interaction in the AI-driven world. Ultimately, they speculate on the future of AI in real estate and other industries, while also discussing their personal updates, food discoveries, market trends, and upcoming properties.

(00:00) Introduction and Welcome
(00:31) Toronto Livings Podcast: Real Estate, Culture, and Food
(01:08) AI Joey and Human Joey: A Funny Interaction
(01:42) Episode 32: AI and Its Impact
(02:14) Personal Updates and Vacation Plans
(02:33) Music and Food: Weekly Highlights
(03:06) Exploring Toronto's Food Scene
(09:00) News You Can Use: AI and Real Estate
(10:13) The Most Viewed Property in Canada
(24:18) AI in Real Estate: Property Valuation and Pricing
(29:12) Automated Customer Service: AI and Chatbots
(33:46) Exploring the Power of AI in Cold Calling
(34:44) The Cost and Efficiency of AI in Business
(35:37) AI and the Future of Job Market
(36:46) AI in Enhancing Property Search Platforms
(40:47) AI in Smart Home Technology
(41:48) AI in Process Automation and Personalized Marketing
(50:45) The Ethical and Privacy Concerns of AI
(58:51) AI in Content Creation and Personalized Messaging
(01:08:38) The Future of AI in Real Estate

Shout Outs

Kingston 12 Patty shop – 1808 Eglinton Ave W
Aloette Go – 2362 Yonge St

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

Where You Can Find Us

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

🖥️ Instagram
Mark Savel: https://www.instagram.com/torontolivings/
Joey Virgilio: https://www.instagram.com/joey_torontolivings/