Strong seller market?
There are only a few weeks left until spring! So let’s take a look at the market trends for the upcoming Spring season since some of you might be ready to buy or sell this season.
Interest rate rises!
Seeing the Bank of Canada raising interest rates and governments working to increase supply is the best time for sellers since the market is in a period of great demand and motivated buyers. However, to ensure that the right buyers are attracted to any home you are selling, it is essential to properly list and market your home.
Tight real estate market!
The market will likely be busy for buyers during the spring, as most individuals will want to purchase homes before interest rates rise further. Therefore, you must stay up-to-date on new listings if you’re going to buy this season. And if you found what you’re seeking, make an offer almost immediately after viewing the house, so it is not snatched up by another buyer.
Smart move to pre-approve!
When this market is busy, getting pre-approved for your mortgage is vital. Not only will it allow you to show the seller that you will not have difficulty obtaining financing (assuming nothing changes between now and then with your job, savings, etc.), but you will also be able to lock in your rates for up to 120 days while you shop. You don’t want to get caught waiving financing conditions too fast and then having to scramble later!
You may also want to consider moving further from your workplace if you intend to buy this year due to current supply issues within the housing market. You may be able to work remotely a few days a week, depending on your employer. If this is something you’re considering, you’ll want to watch for potential office space in the homes you view.
How can I bee at your service?
To see what you can afford to buy this spring, please visit our website and sign up on our FREE consultation with one of our professional.
Also let us introduce our new product: Mortgage Bundle for the less fortunate with not so good credit and or income, but our product enables us to still get an approval, only you must have at least 20% down payment.
Ultimately please call to talk to us 403-253-2022 or email our president!