When the COVID-19 pandemic rocked the world in 2020, the state of the Real Estate market became the talk of the town. The Coronavirus has had profound impacts on the housing market, to say the least. Since 2020 we have seen some ground-breaking records set, and also experienced the impacts of the fight against inflation. So, here’s the breakdown. 2021 – The Unicorn Year 2021 was the perfect...
1. Take exterior photos now First impressions are everything. It’s hard to show prospective buyers the full potential of your yard with the accumulation of snow, your patio set covered or put away, and the pool closed. Providing them with photos taken in the summer/fall helps them visualize your beautiful yard in its best light. 2. Get pre-approved & lock in your interest rate for up to 120...
Rental rates are on the rise. Interest rates are on the rise. And house prices are coming down. So what does this mean? Should you rent or is it the right time to buy? We need to look at historical averages over 25 year terms instead of just today’s market, as any savvy investor looks at investing in a long game format. There are a lot of factors which could make a mortgage or rental...
In Wednesday’s announcement, The Bank of Canada raised its benchmark interest rate by 1.00% which was a larger increase than had been anticipated. This is the largest single increase in the overnight rate that we have seen in more than 20 years. Why? During the pandemic the central bank cut the lending rate to stimulate the economy by encouraging people to borrow and invest at a low rate. It...
The Canadian Real Estate Association(CREA) has announced that it’s starting a pilot program that will allow the public to see real-time offers as they are registered on properties via REALTOR.CA. The details regarding the launch of this program are still vague as they are still completing their due diligence on determining the appropriate place or places to launch. CREA’s Chief Executive...
On Wednesday March 9th the Bank of Canada announced that it was raising its key overnight lending rate by a quarter of a percentage to 0.5%, as it attempts to fight inflation caused by the COVID-19 pandemic. Homeowners with a variable rate mortgage will immediately feel the effects of the higher rates on their monthly payments, but what does this means for the current detached real estate...
The pros and cons of the 4th wave Pros In the face of uncertainty, it’s challenging for policymakers to raise interest rates. Omicron may cause a push back on the plans to increase rates early in 2022 and money will remain cheaper for longer.With restrictions imposed on travelling and entertainment, people will have more available money sitting in the bank, hopefully increasing their saving...
Investing in your first home is one of the most important decisions you’ll ever make. Your home is where life unfolds and memories are made, all while building a financial foundation for your future. While buying a home can be challenging for a first time home buyer, there are some great advantages created to encourage newcomers into the real estate market. Here are 5 important steps to consider as a...
Commonly referred to as “Steel City” or “The Hammer”, Hamilton has been historically known as a blue-collar city with a gritty reputation, but there is SO much to love about the city with many nicknames! The Hamilton housing market has become a popular option for homeowners seeking both more space and the ability to stretch their dollars further. Between its natural beauty and the excitement that...
With the federal election on September 20th quickly approaching, the Canadian housing market has become a highlighted issue among the campaigning political parties. Here is a short breakdown of what each major political party is promising to do about it: The Liberal Party The strategy for this party includes commitments to new government funding to support homeownership, a plan to build more homes...