‘cooling off’ !!! – seriously… I needed to cool off before writing this post. The Video link is all the written words that follow – your choice. What’s the (provincial) government talking about doing now? Short Version Nothing that will bring prices down,...
This is the video version of the text below. I was asked for a short video regarding Variable Rate Mortgages and whether or not to Lock In… Short Answer; No. No don’t’ lock in. Also no to the short video – you want short – tune out now. The Longer Answer? OK...
Who, What, When & Why? Short version; Who? – This impacts new buyers with less than 20% down payment who are purchasing properties below $1,000,000.00 What? – Three changes; No more borrowing a down payment (gifted down payment remains OK)New minimum...
Skewed Data Weak Data Murky Data Fuzzy Data If you own your home, and have no plans to sell, the best move may be to simply ignore the news reports around sales activity – over the next few months in particular. Things are volatile, and it’s difficult to...
No video this week, just text. (T.G. this one is for you my man!) Last weeks video was shot just before 2am at the end of what was then one of the most challenging weeks I’d experienced, ever. I simply had no juice left with which to compose written sentences,...
Property Assessments vs. Market Value Do not rely on your BC assessment for a fair market value of your property. The ‘assessed’ value was determined last July, your local market may have changed since then. Do not rely entirely on a buyer’s opinion or a seller’s...
Huge News! Huge, this is just huge… (it’s not) Last week the Bank of Canada lowered the ‘Benchmark’ rate from 5.34% to 5.19%, this is a number that: dictates maximum mortgage money access for those with less than 20% downto which the federal...
The Missing Link? The missing link between home ownership and perpetual renting remains supply. Either supply of homes to purchase, or supply of money with which to purchase. The 2019 Budget addresses neither of these supply issues....
To Lock In or Not? This video applies if you are taking a new mortgage, whether it’s for a purchase, refinance, or renewal. The variable remains the main contender. But what about all the economists saying if you are currently in a variable rate mortgage then...
This week we discuss writing a Subject-Free offer, or perhaps not doing so. Specifically we look at why you may want to cool your jets and have a detailed conversation about your plan with your Mortgage Broker well in advance of writing such an offer. As it turns out...
