Tagreal-estate

Posted June 21, 20221 Comment Consumer Debt

Death, Taxes, and Interest Payments: Part 1

“Nothing in this world is certain except death and taxes.”

Benjamin Franklin said this in 1789, and it’s just as true now as it was then. There’s just one thing I’d add given that the world has changed quite a bit since the 18th century: interest payments. Maybe not as certain, but just as stressful. If I could revise the quote now, I’d make it:

“Paying interest and taxes will be the death of us.”

Posted December 10, 2021 Mortgage News

Surprise, Surprise: No Rate Hike From Bank of Canada

For months we’ve been warned by “experts” that rates are sure to shoot up. That the Bank of Canada will change their tune based on the state of the economy. That by year’s end, we’ll be well on our way to pre-pandemic rates that will make anyone with a variable rate mortgage regret ever buying a home.

It’s December. None of that has happened.

Posted March 26, 20211 Comment Mortgage News

No Conditions with an Offer… Is This the New Normal?

The real estate market is more active and more competitive than any time in history. The results? Pure chaos.

It used to be normal for people to insert a few conditions when making an offer to purchase a home. The standard conditions used to be along the lines of obtaining satisfactory financing within 5 to 10 business days and obtaining a satisfactory home inspection. The lender would go through an in depth underwriting process, then verify income, down payment, credit, and finally the property would get reviewed and appraised to ensure it meets the lender’s criteria and lending value.

Posted January 29, 2021 Finance

The Good News

I’m a bit of a hypocrite. Whenever I go for a haircut, the gym or even to visit my dentist there’s a tv and it’s usually tuned in to a news channel. For the record, I don’t watch the news. I’m the guy that asks them to change the channel. I’m not interested in constantly hearing about how terrible the world supposedly is.

My take… if you want to be depressed, watch the news. If you want to be aware and alert, choose where you get your information.

Posted January 26, 2021 Mortgage News

New Year New Outlook

2020… It will be known as the year of the pandemic. It will also be known as a year of a record-setting real estate market. We saw records for volume of sales and new high prices in many cities across Canada. To say there was a lot going on is an understatement. I have to admit I was happy to close my office and give everyone the week off between Christmas and New Year’s.