Category Archives: Palace Place News

Today, the Bank of Canada has announced its third consecutive policy rate drop to 4.25%.

Condo buyers, who have remained on the sidelines for all of 2024, should take great comfort from this announcement, as it signals the time to buy.

Because of what we call “herd mentality”, it typically takes 1.5 weeks for the buyer market to react to rate announcements. This news bodes very well for Palace Place going forward, and it demonstrates that the time to buy is now as prices should increase as activity increases.

Best rates that we have seen so far:

5 year fixed at 4.44%

The next scheduled date for announcing the overnight rate target is October 23, 2024.

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

Today, the Bank of Canada has announced its second consecutive policy rate drop to 4.5%.

Condo buyers, who have remained on the sidelines for all of 2024, should take great comfort from this announcement, as it cements the path to lower rates.

Because of what we call “herd mentality”, it typically takes 1.5 weeks for the buyer market to react to rate announcements. This news bodes very well for Palace Place going forward, and it demonstrates that the time to buy is now as prices should increase as activity increases.

Best rates that we have seen so far:

5 year fixed at 4.69%

The next scheduled date for announcing the overnight rate target is September 4, 2024.

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Be sure that you SUBSCRIBE to this blog to be the first to know of new listings even before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.

Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

(Updated)

As we had reported about the importance of today’s announcement, the Bank of Canada has dropped its rate by 0.25% as predicted.

While this drop is minor, it more importantly signals an end to the high rate uncertainty that had been experienced since the Bank of Canada began raising rates in March 2022. Buyers should take great comfort in this announcement.

This news bodes very well for Palace Place going forward and demonstrates that the time to buy is now as prices should increase as activity increases.

UPDATE:

In response, the banks have already followed with 5-year mortgage rates as low as 4.89%.

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Be sure that you SUBSCRIBE to this blog to be the first to know of new listings even before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.

Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

The Toronto real estate market in 2024 has proven most challenging for key segments, such as homes in the $2M to $4M range and condos above the $1M mark. Many buyers have been waiting for reduced mortgage rates that for the market are well overdue now.

In their April 10 decision not to lower rates, the Bank of Canada had stated, “We are seeing what we need to see, but we need to see it for longer”.

This decision put a freeze on the spring real estate market, which is traditionally the busiest time of the year.

It has long been forecast that the first rate reduction would only be a drop of 0.25%. Many have argued that such a drop would be insignificant.

However, it is not about the amount of the rate drop but the signalling of the end of this high rate uncertainty.

That is what is needed to start the cycle of buying again in many slow markets, like condos.

What will happen on June 5?

In a May 30 report by The Globe and Mail, a poll had shown that 75% of some of the top economists have predicted a June 5 cut in the key interest rate by 25 basis points to 4.75%. Here is a link to that report.

https://www.theglobeandmail.com/investing/article-poll-bank-of-canada-to-cut-interest-rates-on-june-5-three-further/

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Be sure that you SUBSCRIBE to this blog to be the first to know of new listings even before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.

Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.

With the release of the new Palace Place Budget, Crossbridge Condominium Services, which now manages over 800 condos in Ontario, has taken the time to comment on the success at Palace Place.

“Any one of the projects that Palace Place has undertaken in the last year, any corporation would be proud to say they were successful in that, but when you start stacking all of these projects that you’ve undertaken over the past year on top of each other it is, I think, certainly from my seat looking at over 800 condominium corporations, it’s unprecedented.

And I’ll say that again, it’s unprecedented. The leadership that you have, the community that supports you is, by far, I think one of the most engaged and one of the most successful that I’ve seen from where I sit, and I wanted to share that with everyone and I wanted to congratulate the board, the staff, and certainly the management team that we’ve put in place there on so many successes. It is, again I use that word and I don’t use it very often, unprecedented.”

Crossbridge Condominium Services Ltd., the biggest property management firm in Canada, with a portfolio of now over 800 condos.

I am really proud of this because my team and I work exceptionally hard to ensure that Palace Place remains the best managed condominium residence in Ontario.

Call today to learn how we set the bar higher!

Luke Dalinda

E: LDALINDA@DALINDA.NET • TEL: 416-725-7170

Be sure that you SUBSCRIBE to this blog to be the first to know of new listings even before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.

Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.

Follow @LukeDalinda on Instagram!

View all current and past Palace Place listings for sale here.

Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.

View all current and past Palace Place listings for sale here.