GRK Enterprises

Royal LePage is predicting that Toronto area home prices could still rise this year, despite the COVID-19 crisis. In its first-quarter report, released Tuesday, the brokerage says that if the pandemic recedes by the end of second quarter, prices could jump up 1.5 per cent year-over-year, to $856,263 by the end of 2020. However, if the lockdown continues to the end of August, the company expects house and condo prices will contract by 0.5 per cent year-over-year to $851,982.... Although Toronto’s housing market had a strong first-quarter, with aggregate resale prices rising 7.5 per cent year-over-year, that won’t be enough to compensate for the loss of eight to 12 weeks in the busy spring real estate season, said Royal LePage CEO Phil Soper. About 22 per cent of sales typically occur in the first quarter of the year. We’re not anticipating an immediate recovery, he said. Even when the economy begins to move again, people will still be wary of each other and sellers will be more hesitant to allow strangers to tour their homes. But once consumers feel more comfortable, Soper said economic stimulus, such as low interest rates, competition among lenders and softer prices, will kick-start the market. YOU MIGHT BE INTERESTED IN... The swift and violent impacts of COVID-19 have disproportionately hit younger and part-time workers across the province, groups less likely to be in the housing market, he said. That’s why the real estate sector will be one of the prime lifters of the economy when health protocols are relaxed, just as it was following the global downturn in 2008 and 2009, said Soper. It was really the entry of the first-time buyer and the housing consumer that brought the Canadian economy back after the great recession, he said. Soper said it may appear as if real estate prices have plummeted when the country goes back to work. There will be headlines touting dramatically lower selling prices. But those will likely be a few distressed sellers accepting lower prices that lower the overall average. There will also be some opportunities for buyers who might otherwise have been faced with competitive offers something that was a growing concern in the heated market of the first part of the year. YOU MIGHT BE INTERESTED IN... One of the really challenging things we saw coming in 2020 before the health crisis, was the psychology of multiple defeats where you put an offer in and you lose and you lose and you lose. Eventually people either drop out (of the market) in frustration or they overpay. We should see a lot less of that, he said. The Toronto Regional Real Estate Board (TRREB) had been forecasting a 10 per cent rise in GTA housing prices this year before the COVID-19 restrictions stopped showings and stalled all but necessary transactions. The board has suggested that it will have a better idea of where prices and sales are heading later this spring.

How the March 18 federal government announcement affects you and your taxes. If you were one of the many Canadians who tuned into Prime Minister Trudeau’s national announcement on the morning of Wednesday March 18th, you heard him outline several tax changes immediately taking place. From changes in tax deadlines, to new credits and top-ups for everyone from seniors to students to small businesses, there was a lot to take in. Let us break it down for you. New Tax Filing Deadl...Continue reading

Dear friends and my valued customers. Your well-being is very important to me and the special purpose of this message to contact you and to pray for your safety and well-being. How are you? I hope this message will find you and your family in best of health. Kindly take all necessary precautions/measures to protect yourself & your family from Coronavirus.... Please keep social distances as per health advisors guidelines. I am sincerely concern for all my friends, colleagues, clients and family members’ health and advise them to stay at home as far as possible. This is only way we can protect from this pandemic disease. The situation in Canada continues to change every day. It's impacting us all at a very personal level. In the light of government efforts for the safety to community, I have stepped forward and started to extend my services of tax filing through electronically avoiding exposure of individuals to meet face to face. It is therefore; please email your tax documents to me on my email [email protected] followed by audio/video discussion on your file. The missing details and documents will be further required from you. If you are not sure how to do, please call me on below cell phone in the evening to discuss individual situation. It is to be noted that CRA has extended date of filing tax return till June 1, to individuals and families and payment of dues if any deferred till August 2020. If you are interested to know the government of Canada’s stimulus package offered to individuals and families regarding Child tax benefits, GST/HST relief, EI policy, mortgage payment relief, please go to my Face Book Page Ghulam Khan, Where complete details of CRA press release is available for benefit of friends. If you have any question or concern please let me know. Please let your friends take advantage of this facility of digital home service with safety and security. My sincere regards, Stay home Stay Blessed Ghulam Khan Financial Adviser/Tax Consultant Cell: 4168754077 http://ca.linkedin.com/in/GhulamRKhan www.knowledgefirstfinancial.ca/Ghulam.khan

Dear friends and colleagues We see another tax year knocking at the door. I hope many of you have received your T4 or other income slips by now. If your documents are complete, please schedule an appointment with me ASAP. Under current circumstances please email your documents than we will discuss on video or audio . Your profile is already setup with me If you have any question, query, concern and information required, please call me or text me at messenger, watts app or vib...er or [email protected] Thanks Ghulam Khan Financial Advisor/Tax Consultant Cell: 4168754077 http://ca.linkedin.com/in/GhulamRKhan www.knowledgefirstfinancial.ca/Ghulam.khan Sent from my iPhone