In case you’ve been living under a rock – or are just back from a year’s unplugged trip around the world – residential real estate prices have fallen precipitously from their peak in February. We’re now looking at a price correction somewhere in the region of 15-20% from where they were at their apogee. […]
Be the change you want to see…what are buyers waiting for?! Read More »
The word is out. There’s a price correction going on in residential real estate; with mortgage rates rising (although still lower than the rate of inflation… just want to point that out) and lots more supply coming to market (in roughly a 5:1 ratio of new listings to sales), there is considerable downward pressure on
There is always opportunity Read More »
I don’t wish to sound like a euphoric clown, spouting sunshine-and-rainbows while the rest of the world is focusing on the troubling news of higher inflation and rising mortgage rates, but at the risk of swimming against the current, I wanted to highlight that there are still opportunities. If you’re willing to keep an
Window of Opportunity Read More »
The streets are lined with gold for anyone willing to work and take a long-term perspective. With prices coming down in residential real estate both locally and across the province, prospective buyers are being granted the opportunity they’ve been awaiting. With more inventory coming to market and available from which to choose, and properties taking
Turn That Frown Upside Down – There Are Always Opportunities Read More »
Yes, we’re in a bit of a transition; the residential real estate market is shifting. Locally, the average price came down in April from its high (over $800k) the month prior and, unsurprisingly, inventory of homes available for sale is increasing notably (and, as a corollary, so too is the average number of days it
What’s Going On These Days?! Read More »
Interest Rates Are Rising Well, it was bound to happen, wasn’t it?! Despite the recent increase and the Bank of Canada’s signaling that there will continue to be more of the same in the near future, mortgage rates remain at near record lows (historically speaking) and still no higher than recent inflation numbers. Heck, there’s
Merits Of The Hobo Lifestyle; Write Yourself Up A Sexy Spreadsheet Read More »
… wait just a minute. So, after the tears of joy and high-fives that follow ‘winning’ a bidding war (congrats, by the way), the dust settles, we all land back into the land of reality. Likely, as has been the norm over the past couple of years, you’ll have paid far above the asking
Other expenses you’ll be paying at closing. Hopefully you haven’t suffered a heart attack after reading my previous blog about how much LTT you’ll be paying upon the purchase of your property. … the inconvenient truth is that there are other expenses to pay when you purchase, as well. Gulp.
Statement of Adjustments Read More »
At last! So you’ve finally bought a place. Congratulations! Especially heartfelt congrats to those first-time buyers out there. It’s not easy but at least it makes for good conversation… after the fact. I know it must have felt like a never-ending roller-coaster where there were far more downs than ups – but you made
Guide to Land Transfer Tax (LTT) Read More »
Another Quick Life Lesson Zinger Here From The Real-Life Real Estate Trenches. In a sellers’ market, generally defined as when too few properties are for sale for the number of buyers in the same market (thereby providing the seller the advantage in the transaction), properties listed for sale don’t last long before being scooped
Advantages To Selling Before A Property Hits The Market Read More »
