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immigrationoffers · 1 month

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The Cost of Buying a Home in Canada’s Largest Cities

Canada’s real estate market has remained a hot topic over the past decade, with home prices showing significant variations across its major cities. As urban centers continue to attract new residents, understanding the average cost of purchasing a home in Canada’s largest cities is crucial for potential buyers, investors, and newcomers alike. Let’s explore the current average home prices in some of Canada’s biggest cities.

Toronto, Ontario

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Toronto, Canada’s largest city, is known for its vibrant culture, economic opportunities, and diverse communities. However, the real estate market in Toronto is one of the priciest in the country. As of 2024, the average cost of a home in Toronto hovers around $1.15 million. The demand in the city center, driven by strong employment prospects and amenities, has kept prices high, making it a challenging market for first-time buyers.

Vancouver, British Columbia

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Vancouver consistently ranks among the most expensive cities in Canada due to its limited land availability, mild climate, and international appeal. The average cost of a home in Vancouver is approximately $1.25 million. The city’s picturesque setting and proximity to the Pacific Ocean make it a desirable location, but these factors also contribute to the steep property prices.

Montreal, Quebec

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Montreal offers a more affordable option compared to Toronto and Vancouver, with an average home price of around $550,000. Known for its rich history, arts scene, and bilingual culture, Montreal remains attractive to buyers seeking a balance between urban living and affordability. Despite recent price increases, it still provides good value for those looking to invest in a major city.

Calgary, Alberta

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Calgary’s housing market is more affordable, with an average home price of approximately $525,000. The city’s economy, driven by the energy sector, and its lower cost of living make it a compelling choice for families and individuals relocating from other parts of Canada. Calgary’s real estate market remains stable, with a good mix of detached homes, condos, and townhouses.

Ottawa, Ontario

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Canada’s capital city, Ottawa, offers a blend of political, cultural, and economic significance. The average home price in Ottawa is around $680,000. As a government hub with a high quality of life, the city continues to attract professionals and families, making it a competitive market for homebuyers.

Edmonton, Alberta

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Edmonton, Alberta’s capital city, has a more affordable real estate market compared to other large cities. The average home price is approximately $430,000. Edmonton’s cost-effective market appeals to first-time buyers, with opportunities for spacious homes at a fraction of the price seen in other Canadian cities.

Winnipeg, Manitoba

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Winnipeg stands out as one of the most affordable major cities in Canada, with an average home price of around $380,000. The city’s strong sense of community, cultural diversity, and reasonable living costs make it a popular choice for those seeking an affordable urban lifestyle.

Factors Influencing Home Prices in Canada’s Major Cities

Several factors contribute to the cost of homes in these cities, including:

Demand and Population Growth: Cities like Toronto and Vancouver see higher demand due to job opportunities, immigration, and population growth.

Land Availability: In cities with limited space, such as Vancouver, scarcity drives up prices.

Economic Conditions: The strength of local economies, like Calgary’s energy sector, influences housing affordability.

Government Policies and Interest Rates: Policies on foreign investment, mortgage rules, and interest rates play significant roles in the real estate market.

Conclusion

While home prices in Canada’s largest cities vary widely, they are largely influenced by demand, economic conditions, and local amenities. For potential buyers, understanding these market dynamics is key to making informed decisions when entering the Canadian real estate market. Whether you are looking for affordability in cities like Winnipeg or a cosmopolitan lifestyle in Toronto or Vancouver, Canada’s housing market offers diverse options to suit different needs and budgets.

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responsivesites · 4 years

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New Post has been published on https://vinbo.com/using-facebook-live-for-your-real-estate-open-house/

Using Facebook Live For Your Real Estate Open House

The idea of using Facebook Live for a real estate open house is nothing new. Marketing-savvy agents have been using Facebook Live for some time to promote listings, create brand awareness, and attract business. It helps them reach busy potential buyers who can’t attend many open house events, as well as those who are out-of-town and planning to relocate. Facebook Live brings your narrated property tour directly to their screen, at home or while they’re on-the-go. They don’t have to make any time commitment other than setting aside time to watch your property tour.

During the current pandemic crisis, open houses are simply not possible in many locations, making Facebook Live even more attractive. Agents are even finding it can help them close some clients. This article will show you how to get started taking advantage of this powerful marketing tool which will continue to serve you into the future, even after the current crisis is over.

Creating a Facebook Business Page

If you don’t have a business page on Facebook, you’ll want to set that up first. This guide from Facebook will help you set it up. You’ll need a personal Facebook page to do this, so set that up first if you don’t have one.

It’s really important to put your best foot forward on your business page. Much more than just an online brochure, you need to maximize opportunities for capturing new leads, engage your visitors, and have a solid platform for advertising. You’ll find some tips and recommendations here for putting together a real estate business page that has the right professional polish.

Preparing Your Online Real Estate Open House

Promotional Posts

In the days leading up to your live event, you’ll want to publish posts on your business page to get the word out. These posts will need a quality photo of the property which could be anything that will make a good impression on potential buyers – interior or exterior.

Once you’ve chosen a photo for your promotional posts, you need to use a graphic editor to add the date and time to the image. Canva is a free tool that’s perfect for this task. Canva even offers free templates for creating social media graphics.

With your graphic ready, you just need to write a quick blurb for your posts that will get potential buyers excited to see more about the property and attend your online open house.

If you want to reach more people in your area outside of your followers on Facebook, you can try using Facebook ads to promote the virtual open house to a much wider audience that can be very targeted using the ad audience selection features available in Facebook ads. Since you can spend whatever you want on Facebook ads, there’s very little risk in experimenting and Facebook ads are simple to set up.

Planning The Property Tour

Preparing for your tour of a property is very important. You don’t want to just improvise on the spot. Plan the flow of the property tour and identify the important points and features you want to speak to and share in your broadcast. You might even want to write a script for yourself to make sure you don’t leave anything out and do a practice run or two before the event. In your narration, make sure you include the same information that you normally would in an in-person open house, such as insights about the community and local schools. You’ll get better at doing these over time but the important thing is to start!

“Get (yourself) in your videos. It allows us to showcase who we are as people and build a “know, like and trust” and that’s what clients are looking for.”

“I always do 30 minutes because 30 minutes will allow you to give a 15-minute walk-through and 15 minutes to answer any questions. Typically, I’m getting 600-900 views. I’m engaging the audience.”

Jesse Peters Sales Associate RE/MAX Executive Realty Winnipeg, Manitoba, Canada Using Facebook Live For An Open House – REALTOR® Magazine

Go Live

Using Facebook Live is very easy. Start with learning the basic features and controls on your phone or tablet, then do some practice sessions to get comfortable with it. Having the confidence in operating the features will make your first online open house go much more smoothly and you’ll be less nervous.

After the event, you’ll have a link in Facebook for sharing the recorded video. If you have an iHomefinder account, make sure you add the link to your listing if it’s one of your own listings. This will display a link to your video when people view the listing on your website.

The biggest hurdle is building the confidence in yourself that you can do this. Pretend it’s just like a normal real estate open house. After you have done a few, you’ll wonder what you were so nervous about. You’ll be really excited about the added exposure as you watch your audience size start to grow over time. Practice makes perfect!

Original source: https://www.ihomefinder.com/blog/agent-and-broker-resources/using-facebook-live-for-your-real-estate-open-house/

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mikemortgage · 5 years

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Why Canada — the rightful home of hockey — may never be home to another NHL franchise

John Graham is a race car driver, hockey promoter and believer in improbable dreams, an optimism he applied to his role as the point man for a group of prominent though unnamed Saskatoon businessmen who approached the NHL in 2012 with a pitch to buy the money-bleeding, league-owned Phoenix Coyotes and move them to the Prairies.

Saskatchewan at the time was booming, its economy growing by 2.9% a year, good enough to be second only to Alberta nationally. Saskatoon had grown into a city of 230,000 from less than 200,000 at the turn of the millennium, and was adding more bodies and jobs year over year, a prosperous run propelled by a robust oil sector, strength in potash and uranium mining, and the traditional farming and manufacturing sectors. Unemployment was low and the city’s NHL aspirations high, especially given that Saskatoon had already hosted several successful NHL exhibition games, and also had a 15,200-seat arena, government support and proof of concept in the nearby Winnipeg Jets — formerly the Atlanta Thrashers — that relocating to a small Canadian market could actually be a win for everybody.

Naturally, Don Cherry waded in, devoting a Coach’s Corner segment one Saturday to trumpeting Saskatoon’s NHL worthiness, and assuring Canadians of something they all surely knew: “They are hockey people,” he said. “They will sell out in 15 minutes.”

NHL deputy commissioner Bill Daly even met with Graham and the Saskatoon group, meetings that produced more meetings, talks that, while cordial, weren’t enough to dislodge the Coyotes from Phoenix, where the franchise remains — a money loser still, albeit under new ownership and with a new name, the Arizona Coyotes.

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“Business and life goes in cycles,” Graham says, looking back on those heady Saskatoon days. “For sure, when we thought there was an opportunity to go after Phoenix, Saskatchewan was on an economic high, potash was hot, oil exports were strong. It was the right window for us. Had the team gone in there, I think it would have mirrored Winnipeg’s success. We had everything lined up, but …”

It didn’t happen, not for Saskatoon, and not, more recently, for Quebec City, a locale twice spurned by the NHL in a three-year span in favour of expanding to Las Vegas and now Seattle. The NHL’s repeated snubbing of Canadian markets doesn’t seem just, morally, and it doesn’t seem to jibe with free market economic theory.

Canadians are NHL hungry. There is consumer demand for the product and corporate support, with a demonstrated belief among the business community that being associated with the league isn’t merely a branding exercise, but vital to a brand’s identity. Tim Hortons, Canadian Tire, Ford of Canada, Rogers, Bell, Bank of Nova Scotia, Kraft — and more — have a piece of the NHL action. BCE Inc. and Rogers Communications Inc. together own the majority of the Toronto Maple Leafs, in addition to Rogers controlling most of the league’s Canadian broadcasting rights. But in a proven though underserved national market, the NHL appears to be doing everything it possibly can to avoid putting in an eighth franchise.

It can be easy, even comforting, to conclude that the problem must be them: them being the league, its American-sunbelt-loving-New-York-City-headquartered commissioner, Gary Bettman, and the majority of American owners behind him, hell bent on propping up marginal franchises in Florida, Arizona and the Carolinas, while forgoing slam dunk propositions such as the Nordiques 2.0.

Much less appetizing to consider is the alternative, which is that the problem is us: our population, 75-cent dollar, relative lack of billionaire would-be hockey team owners, corporate parochialism and collective inability to grasp, or rather fully admit, that Canada, although the rightful home of hockey, may never be home to another NHL franchise.

Richard Peddie, former president and chief executive officer of Maple Leafs Sports and Entertainment Ltd., says the financial prospects of an eighth Canadian NHL franchise aren’t great.

To understand why not, it helps to do the math, and who better to run the numbers than Richard Peddie, the former CEO and president of Maple Leafs Sports & Entertainment Ltd., and an executive often accused of monetizing every nook of Toronto’s Air Canada Centre (now Scotiabank Arena) during his 13 years at the top. “Looking at it, the financials aren’t great,” he says of the prospects for an eighth Canadian NHL franchise. “It is a thin investment, there is not a lot of earnings in it, and you need a rich person.”

Imagine, as per Seattle, that an expansion team costs around US$650 million. If you are not Quebec City, a new arena would need to be built, costing another $200 million, give or take, assuming the new owner convinces taxpayers to pick up a chunk of the tab. Now, almost a billion dollars later — huzzah — you have yourself an NHL franchise earning, in a good year, about US$25 million before taxes, interest, depreciation and amortization or, in other words, close to a zero-per-cent annual return on a huge investment.

Hence the need for a rich person, a billionaire at minimum, which in Canada limits the pool to about 100 potential buyers, seven of which — the Molsons, David Thomson, Larry Tanenbaum, the Rogers, Daryl Katz, Francesco Aquilini, Murray Edwards and Eugene Melnyk — already own, directly or indirectly through companies, at least a part of the seven existing Canadian franchises.

Winnipeg Jets co-owner David Thomson watches his team take on the Anaheim Ducks in the second period of NHL playoff action at MTS Centre in Winnipeg, Man., in 2015.

Thomson, the richest Canadian around, and Mark Chipman in 2011 paid US$170 million for the Thrashers and the right to move the team to Winnipeg. At the time, it was a boondoggle of a price for a terrible franchise with no discernible fan base in a non-traditional hockey market, and an ownership group that was slinging lawsuits at one another after losing millions for years. But Thomson was the right billionaire at the right time in the right place, willing to pay whatever the asking price was for what today amounts to a civic good-works project, with more or less break-even financials, though the Jets are now valued at US$415 million, according to Forbes.

The MTS Centre during the Winnipeg Jets and Montreal Canadiens NHL game on October 9, 2011 in Winnipeg, Manitoba. The game is Winnipeg’s first NHL regular season game in 15 years.

Peddie concludes his lesson by adding that, with nominal annual returns, a hypothetical owner entering the NHL game is presumably doing so with two aims in mind: winning a Stanley Cup while betting the asset appreciates in value so that it pays off if he or she decides to sell. Of course, the buy-and-hold-and-eventually-sell sports ownership model starts to look pretty dicey when the price tag up front is a billion dollars and when a hypothetical team is located in a secondary Canadian market, such as Saskatoon or Quebec City.

Yet no matter how bad the math looks, or how far the loonie dips, this is still Canada and fans will pay to watch a team (think, Edmonton) loaded with talent repeatedly fall short of expectations and fail to make the playoffs. It is the kind of loyalty (lunacy?) that doesn’t exist in, say, Arizona, Florida or Carolina — or Ottawa, for that matter — suggesting that Quebec City should hold some allure as a potential destination for an NHL franchise. Right?

A Winnipeg Jets fan looks for tickets for the Jets inaugural game against the Montreal Canadiens at the MTS Centre in Winnipeg, Oct. 9, 2011.

We put the question to Bill Daly, Bettman’s second-in-command. “I’m not prepared to say that Quebec is not a viable market for a future NHL franchise,” he says via email. “And I’m not prepared to say that future opportunities will not present themselves. Every situation is fact- and circumstance-specific, and I would certainly not rule out the possibility of facts and circumstances aligning in the future so as to create a new opportunity.”

In other words: Quebec City is neither on nor definitively off the table, and remains a Plan B (or C or D) with a fully paid-for, publicly-funded arena, a rivalry with Montreal waiting to be resumed and an eager fan base itching to buy tickets, sweaters and overpriced pints at concession stands.

Daly goes on to say that “further expansion” was not a priority at the moment, though he allowed that as long as there is a demand and “assuming that further expansion is ultimately perceived to benefit the league as a whole, it will be duly considered and may well happen.”

Expansion, of course, is one way to get a team. The other is a relocation scenario, where a U.S.-based dumpster-fire of a hockey situation reaches Atlanta Thrashers-sized proportions, and the team/league cries uncle and heads north. Cast against this scenario is Bettman, a man who hates to admit failure, and rightly so, because failing is bad for business. If teams are seen as portable and relocation is always viewed as an option, there is little incentive for fans, so the argument goes, to invest — practically, financially and emotionally — in a franchise that might be gone tomorrow. At the same time, if the NHL hopes to grow its overall fan base and tap into previously untapped corporate dollars, it needs to expand into markets where new hockey converts might be, not where the fans already are (Quebec, Saskatoon, Anytown Canada).

The NHL’s existing strategy might even be paying off, depending on one’s perspective. Auston Matthews, Maple Leafs star and a former No. 1 overall NHL pick, grew up in the Phoenix suburbs as a Coyotes fan; the Arizona State University men’s hockey team in nearby Tempe has emerged as a U.S. college hockey power; and youth hockey enrolment in the state has quadrupled since the Coyotes arrived in 1996. Hockey has a toehold in Arizona, like it or not. Equally evident is that the Coyotes continue to lose gobs of money, reportedly close to US$20 million a year.

The red ink didn’t bother Daryl Jones. As a kid in Alberta, Jones grew up worshipping Oilers great Paul Coffey, and eventually left home to play hockey at Yale University, before graduating into the world of high finance. In 2013, he and a bunch of other rich Albertans bought the sad-sack Coyotes from the NHL for US$170 million. “We thought, No. 1, that NHL franchise values would go up, and that has largely proven to be true,” Jones says from Connecticut, where he now lives. “It would also enable us to make money when we sold out — the rising tide of franchise values.”

Jones and his partners learned some valuable lessons about hockey in the desert during nearly four years as NHL owners, chiefly: the Coyotes have a loyal fan base; the team’s arena couldn’t be located in a worse spot in terms of fans accessing it for weeknight games; financial losses are hard to stem; and Bettman is sticking by Arizona — at least for now. Their bet on increasing franchise values, meanwhile, paid off. They essentially doubled an initial US$45-million equity investment, selling to U.S. hedge fund manager, and now lone Coyotes owner, Andrew Barroway in 2017. (Barroway is shopping for new partners, and has valued the Coyotes at US$500 million).

Jones now owns a piece of a junior team in Dubuque, Iowa. He believes that Quebec City could work as an NHL market, but that the determining factor for the league forever hinges upon one crucial element. “They look at it as, What is the best business proposition for us?” he says. “I don’t think it has anything to do with whether it is a Canadian or an American team.” In other words, it’s all about the money.

Canadian franchises generate revenues in Canadian dollars, while paying players in U.S. funds. Add in U.S. travel expenses, and the cost of operating minor league franchises, typically based in the U.S., and the pressure exerted on a Canadian franchise’s financial well-being by a weakened dollar is significant. Canadian teams can hedge, buying up greenbacks when the loonie is strong and spending them in times when it’s not. But hedging also costs money, and it involves risk. The NHL salary cap has taken some of the bite out of currency fluctuations, as has league-wide revenue sharing, but there is no absolute cure for it, nor will there ever be.

Take, as an example, Dustin Byfuglien, a linchpin of the Winnipeg defence, a fan favourite with a US$8-million-per-season contract whose true cost to the Jets when counted in Canadian currency is $10.5 million. Winnipeg’s total salary expenditure for 2018-19, before player bonuses, is US$71.8 million, or about $94 million Canadian — and that’s operating with a dollar worth about 76 cents U.S. The lower the dollar dips, the worse the math looks. Remember: it was a 65-cent dollar and ballooning player salaries in the mid-’90s that chased the Quebec City Nordiques to Denver — to be recast as the Colorado Avalanche — and the Jets (version 1.0) to Phoenix.

Patrick Roy holds the Stanley Cup aloft after the Canadiens won the Stanley Cup in 1993.

More disheartening than the dollar is the competition Quebec City has faced in recent expansion wars. Las Vegas is an entertainment mecca and sports gambling hub, while metropolitan Seattle is home to 3.8 million souls and several Fortune 500 company headquarters, including Microsoft Corp., Starbucks Corp., Costco Wholesale Corp., Nordstrom Inc. and a little company called Amazon.com Inc. Quebec City is chiefly home to a provincial government and a pension fund investor.

“If you compare, for example, the opportunity in Seattle versus Quebec City, it is a no-brainer,” says Peddie, the former MLSE boss. “When you start comparing Seattle to other Canadian markets, like a Saskatoon, it doesn’t even warrant a conversation. Out of all the NHL owners, maybe a couple have been to Quebec City, because it is such a charming, European kind of place, but for sure none of them have ever been to Saskatoon, or a lot of other Canadian markets.”

Peddie was approached, post-MLSE career, by a private group looking to examine the possibility of Toronto being home to another NHL team, a big what-if requiring an ownership group with a monopoly agreeing to waive its monopoly. The working assumption was that the alliance between Bell and Rogers would eventually fracture, forcing one of them out of the Leafs’ ownership group. Peddie, in crunching numbers, had the Leafs and the expansion team both playing out of Scotiabank Arena, a model that could work financially, he says, but, in talking to his connections, it fell apart, because both Bell and Rogers were only interested in owning the Leafs.

But as bleak as the odds might appear for Canada landing another team, appearances aren’t always everything. Mark Chipman, the Jets chief executive who hooked Thomson on the idea of the NHL returning to Winnipeg, first approached Bettman about it in 1999. Chipman did everything right thereafter, keeping mostly out of the media spotlight almost until the day the NHL officially announced the league was coming to Winnipeg, by way of Atlanta. Something that looked like it would never happen suddenly did. The lesson? Be patient, very patient, and keep things quiet, since the NHL won’t allow itself to get pushed in directions it doesn’t want to go. (Remember: Jim Balsillie and the Hamilton Blackberries).

Perhaps that’s why a curious silence has descended over the Nordiques 2.0 camp ever since Seattle was awarded its franchise in December. Billionaire Pierre Karl Peladeau and his media company, Quebecor Inc., are the money behind Quebec City’s expansion bid. Peladeau did not respond to multiple interview requests for this story. Mayor Regis Labeaume, a champion of the city’s NHL ambitions, who pushed for the publicly-funded arena to get built and initially wooed Peladeau to the cause, also declined. Their silence could indicate surrender, or it could signal they’re taking a page from Chipman’s playbook.

A young hockey fan cheers on the Calgary Flames before they take on the Edmonton Oilers in NHL hockey at the Scotiabank Saddledome in Calgary April 6.

Which brings us back to the beginning, and the one thing Canada will always have going for it, the thing that makes this market critical to the NHL’s overall welfare, and the notion of landing an eighth franchise before Wayne Gretzky turns 100 plausible: Canadians love hockey, and care about their home teams, even when they are lousy, and even when doing so runs contrary to common sense.

Fans like Dan Mason, a sports professor at the University of Alberta and in some ways your typical Edmonton Oilers follower, though more casual than crazy. He still watches the team on TV — despite all the reasons not to — and catches a game or two a year at Rogers Place. Mason says that in the days of yore, NHL expansion teams set the baseline minimum value for all the teams, a model that worked when applied, for example, to the US$45-million fee San Jose’s ownership group paid for the Sharks in 1991.

Lately, however, expansion fees — US$500 million in Vegas, US$650 million in Seattle — reflect the value of a team in a given market. That’s not just the professor’s opinion it is the NHL’s official position. The Leafs aren’t worth US$1.45 billion if they are in Winnipeg, and a money pit of an NHL franchise — Forbes values the Coyotes at US$290 million — might not cost Quebec City more than it can afford.

Meantime, while it varies from team to team, ticket sales, game-day concessions, foam fingers, hats, sweaters and ice cream bars — all the money people who actually attend the games shell out — still represent about 50% of a given franchise’s revenue intake. Canadians still go to games. Canadian fans still drive revenues.

Loving hockey almost too much has not landed the country an eighth NHL franchise, or, for that matter, a Stanley Cup champion since 1993, but it is one reason not to completely abandon hope. “We are probably not likely to see a Canadian market get an NHL expansion franchise. It will be a Houston, or another market like that,” Mason says. “But if you see a franchise that continues to be in trouble, you can’t tell me that Quebec City is a worse market than Florida — even with a 60-cent dollar.”

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