Real Estate Blog

 

3 Mistakes To Avoid When Getting your home ready to put on the market

 Preparing your home for sale can be a complex mixture of decision-making and multi-tasking the various projects that need to be done in a hurry.The key to success is not the upgrades you've chosen to undertake but to know what buyers in your neighborhood are looking for when they walk through your home.As an experienced local agent, I work with buyers every day and understand what gets them excited. I'd be happy to help you identify the projects that give you the best chance of maximizing the value of your home and the mistakes to avoid. These include:

1. Don't convert a bedroom – Resist the temptation to switch a bedroom into a home office or any other kind of

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Sellers who prepare their homes properly for sale can still get a great price. On the other hand, buyers can find good deals if they're patient and diligent.Below are some key questions to be answered as you prepare to purchase property or make a sale. Your agent should know the answers and be able to counsel you on the best approach in your local market conditions.

1. How do values compare with 12 months ago for the size and style of property in this neighborhood? In a nutshell, this answer will illustrate whether the local market is holding its value.

2. How many properties are on the market locally compared with historical averages? If the neighborhood is awash with homes for sale, price ambitions will suffer. However if there is a lack of supply

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So… Christmas Parties have already gotten the best of me and I missed sending this out on Friday.

As you know Prime went up by 0.50% last week.

Here is the info we sent to clients who are currently in a variable rate mortgage.

The Bank of Canada raised their key interest rate by .50%.

The Bank of Canada has raised their key interest rate by 0.50%, now at 4.25%. This is the first time the Banks rate has hit or surpassed 4% since 2008. This is the 7th consecutive rate jump, and although this move was anticipated, it was uncertain if it would increase by a quarter or half point. With inflation dropping to 6.9% in October, and core inflation still being around 5%, the move to an oversize half a point suggests that this increase is perhaps an

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Oh December… How I love thee!Such an exciting energy in the air, and surprisingly my phone has been ringing with pre-approvals, so this is a good sign for 2023. I believe the slow down due to rates are not as effective, as people get used to change and still need a place to live. Also rent is increasing so why not buy!! With qualifying rates over 7%, the max purchase prices have lowered, so remember the purchase plus improvement program is a good way for clients to get the home they can afford but still get the kitchen of their dreams!! No real news this week, hope you have an amazing weekend! Best Regards,

Danielle Franke Mortgage Broker Owner

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I hope you had a great week! I was at a Mortgage Conference earlier this week and we had Benjamin Tal- Chief Economist of CIBC as one of the guest speakers. He said something very interesting which stayed with me. He stated that the “Bank of Canada would rather be in a Recession than an Inflation. And that they will do all they can to get out of inflation.” Inflation is affected by many things, but the interest rates is what the Bank of Canada can control so they are increasing rates and will most likely keep them elevated for a while to get out of inflation. This means that we will continue to see rates increase this year and then most likely hold for 2023 and then will start coming down in 2024. This week with the announcement that inflation rates

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