Wednesday, June 1, 2022 / by Cheryl Cheslea
Canada's housing market hit a boiling point last year as homebuyers clambered for real estate in regions with significantly more demand than supply. But now that homeowners and buyers alike are feeling the pinch of rising interest rates and record inflation, the market appears to finally be simmering down.
That, in turn, could create a welcome opening for shoppers to be more selective with their searches. However, buyers hoping for a major downturn in prices may be left disappointed. Although home values in some segments are beginning to sag under the weight of higher borrowing costs, a persistent housing shortage is expected to keep prices high.
Read on for a closer look at some of the top factors impacting Canada's real estate market and how they could affect you.
RISING MORTGAGE RATES ARE COOLING AN OVERHEATED MARKET
Over the past couple of years, homebuyers have faced record-high price appreciation and intense competition—in part due to historically low mortgage r ...
Sunday, May 1, 2022 / by Cheryl Cheslea
Our nation is in the midst of a shifting real estate market. But even as the buying frenzy begins to slow, many properties are still receiving multiple offers.1
So what’s the best way to compete as a buyer–especially if you’re wary about overpaying?
While a high offer price gets attention, most sellers consider a variety of factors when evaluating an offer. With that in mind, here are five tactics you can utilize to sweeten your proposal and outshine your competition.
We can help you weigh the risks and benefits of each tactic and craft a compelling offer designed to get you your dream home—without giving away the farm.
1. Demonstrate Solid Financing
The reality is, no one gets paid if a home sale falls through. That’s why sellers (and their listing agents) favour offers with a high probability of closing.
Sellers particularly love all-cash offers because there’s no chance of financing issues cropping up at the last moment. But al ...
Friday, April 1, 2022 / by Cheryl Cheslea
We’re still in a seller’s market, but that doesn’t mean your home is guaranteed to easily sell.1 If you want to maximize your sale price, it’s still important to prepare your home before putting it on the market.
Start by connecting with your real estate agent as soon as possible. Having the eyes and ears of an insightful real estate professional on your side can help you boost your home’s appeal to buyers. What’s more, beginning the preparation process early allows you to tackle repairs and upgrades that can increase your property’s value.
Use the checklist below to figure out what other tasks you should complete in the months leading up to listing your home. While everyone’s situation is unique, these guidelines will help you make sure you’re ready to sell when the time is right. Of course, you can always call us if you’re not sure where to start or what to tackle first. We can help customize a plan that works for yo ...
Tuesday, March 1, 2022 / by Cheryl Cheslea
The annual inflation rate in Canada is currently around 5.1%—the highest it’s been in 30 years.1 It doesn’t matter if you’re a cashier, lawyer, plumber, or retiree; if you spend Canadian dollars, inflation impacts you.
Economists expect the effects of inflation, like a higher cost of goods, to continue.2 Luckily, an investment in real estate can ease some of the financial strain.
Here’s what you need to know about inflation, how it impacts you, and how an investment in real estate can help.
WHAT IS INFLATION AND HOW DOES IT IMPACT ME?
Inflation is a decline in the value of money. When the rate of inflation rises, prices for goods and services go up. Therefore, a dollar buys you a little bit less with every passing day.
The consumer price index, or CPI, is a standard measure of inflation. Based on the latest CPI data, prices increased 5.1% from January 2021 to January 2022. In comparison, the CPI increased 1.0% from January 2020 to ...
Tuesday, February 1, 2022 / by Cheryl Cheslea
There’s a lot to consider when selling your home, from market conditions and appraisals to where you’ll go next. Don’t forget, however, the importance of design. It’s often one of the first things buyers notice when they walk into a home, and it’s also a detail that you, as a seller, can easily control.
According to Realtor.ca’s 2022 housing market forecast, October of 2021 saw record home sales.1 Even with the pandemic igniting new restrictions in some provinces, the Canadian housing market is expected to remain hot. This means, if you’re looking to sell in the near future, now is the time to consider how you can stand out.
Updating your home design is one way to do that. Changes like eco-friendly fixtures or upgraded siding can add value to your home now and be highlighted when you market it for sale later. To get the most out of your updates, focus on these popular home design features that will wow buyers in 2022.
Keep in mind, not all o ...