As one of the top producing agents at Tyler McLay Realty Group, Daniel is widely recognized for his exceptional real estate services and proven results. In 2022, he has earned a spot among the top 1% of Realtors in Canada, and is a member of the highly coveted Top 35 Under 35 list in the country.
Daniel's unique skill set and refined negotiation tactics are a result of his extensive experience in interpersonal relations and working alongside the South Korean President's Office. He holds a Bachelor of Business Administration from Korea University and has a diverse professional background that includes experience working for the Korean Presidential Press Advance Team, handling Foreign Affairs as a Liaison Officer.
Daniel's personalized approach to real estate services is centered on building trust and providing exceptional client service. He prides himself on his detailed knowledge of the Toronto real estate market and his ability to understand his clients' unique needs. This has resulted in a loyal client base built on repeat business and referrals.
As a top-producing member of a full-service real estate team of top agents and support staff, Daniel ensures that every transaction is handled with great attention to detail and care. He is known for his unparalleled adaptability, singular focus on client satisfaction, and detail-oriented personality.
Whether you're looking to buy, sell, or rent property in Toronto, the GTA or beyond, Daniel's extensive knowledge of the local market and expertise in negotiation will ensure that you receive the best possible outcome. He is dedicated to providing a seamless and stress-free experience for his clients and is committed to going above and beyond to ensure their satisfaction.
Contact Daniel today to navigate the complexities of the real estate market with ease and confidence.
Mobile : 437-343-4999
Email: Daniel@TylerMcLay.com
다니엘김 부동산 - 12월 금리인상 & 향후 시장 전망은?
2023: A Generational Opportunity to Move Up
[국문 - 2023년, "위로" 이동할 수 있는 절호의 기회]
https://m.cafe.daum.net/skc67/9rG4/1319?svc=cafeapp
Upsizing refers to the process of trading a smaller living space for a larger one, whether within the same asset class (e.g. from a one-bedroom condo to a two-bedroom) or between asset classes (e.g. from a condo to a townhouse or a townhouse to a detached home).
Short digression: this concept also applies to first-time buyers. Many people wait for the perfect opportunity or dream property to enter the market, but it's much simpler to move up once you're already in the "owners club." Start with what's comfortable, attainable, and within your budget. Your first home doesn't have to be your dream home, but it will enable you to get there. Remember, a journey of a thousand miles begins with a single step.
Back to upsizing: why is this an opportune market to make such a move? With the uncertainty in today's market, interest rate hikes, and recent compression of values across all sectors, it's natural to wonder why it makes sense to make the jump. There are a number of factors we will break down.
Inflation - it's here to stay. Inflation devalues currency, meaning purchasing power drops! The same movie ticket that may cost $14 today will cost $17 tomorrow, at least in theory. In terms of moving up, we can attribute the same rule to debt. If currency or cash dips in value, that means the funds we borrow (in real estate, we would be looking at mortgages) also decrease in value. This makes borrowing more attractive. For example, if we borrow one million dollars in the form of a mortgage from a lender, and market inflation is 5%, that one million dollars is eroding at the same annual rate. The same one million in debt is now only worth $950,000. We just found $50,000 by borrowing money! That said, when we move up in asset class, it pays to borrow more, within reason. Inflation is not all bad if we know how to leverage the advantages.
Prices and Percentage Drops: The way percentages play on values are quite simple to understand. 10% of a larger number is a larger number! For example, 10% on one million dollars is $100,000, while 10% on one hundred thousand is only $10,000. When looking to move up, especially in this market that has experienced dips, the gap between the asset classes has shrunk. Your condo may be valued at $650,000 in today's market versus $750,000 in peak January 2022. Losing value on your real estate is not fun, but it can be if it means that your intention is to liquidate and deploy the same capital on more valuable assets such as a townhome or detached, which may hold value today of $900,000 but in the latest peak could generate as much as $1.1 million. That's a more significant drop in asset price. Slightly higher percentage, yet a significant dollar value is evident. If the intention and goal is to trade upward, we can find value in the tradeoff - sacrificing our $100,000 drop for the purchase of an asset that has dipped $200,000. Moving up today makes a lot of sense when you account for dollar value drops as a percentage on larger, more valuable assets. The same is true on the rebound, as we see rates begin to normalize and ultimately come back down, we shall see a rebound in asset pricing. Play the long game and capitalize on the future appreciation, again as a percent. When asset values appreciate; let's assume conservatively 5% annualized over a 3-year period -that's 15% on a more valuable piece of real estate with a lot more upside potential combined with less additions of said asset class coming to market. 15% on a $650,000 condo may be a +/- $100,000 gain, but on a $900,000 asset, the same 15% equates to a +/- $135,000 gain! Playing the long game and capitalizing on future appreciation is key.
In summary, moving up in the current market makes sense for several reasons: inflation, which makes borrowing more attractive; percentage drops in prices, which have narrowed the gap between asset classes; and potential for future appreciation. Keep in mind, it's important to start with what's comfortable, attainable, and within your budget. Don't wait for the perfect opportunity or dream property, take the first step and start climbing the property ladder.
Daniel Kim 배상.