A few years ago it was just an option to promote a house on social media sites. Due to all of the changes in the Real Estate industry in the past year in Canada, promoting a property on some type of social media is a necessary. It is true that MLS is and will always be the major generator of promotion for a property, but that does not mean that every other form of marketing should be neglected. MLS is great but the power of social networking is unmatched right now. There are so many different options that MLS does not allow. Multimedia, higher resolution media, and connectivity are features that MLS will not have for a few years. (more…)
You would be surprised at how many people make decisions based upon what other people say or tell them. I hear horror stories regarding people making uneducated decisions. From the moment you decide to buy or sell your house, make sure your are comfortable in each step. It is extremely important because for some people it may be a first time buying or selling or it may have been many years since your last Real Estate transaction.
Its finally here. D day. The day that the people in Mississauga have dreaded for 33 years. Its finally official that Mississauga has debt and will have it for some years to come. How did this happen?
Relax it happens everyday. Most people try to align their closing dates so they close a house and move into their new house on the same day. Sometimes this tactic just cannot match. Usually this is when people go crazy and start to panic. The easiest thing to do is go to your lender who you currently hold you mortgage with and ask them to bridge your mortgage for the time in between. If it is also a matter of not being able sell your house in three months and your houses’ closing is soon approaching you might have to take a loan out for the difference. In most cases the lender will give you the bridge. In their eyes they are charging you a premium to do that. When you are putting your house up for sale, ask your lender what your options are if you do not sell your house. If you do not have a mortgage, ask your lender for a secured line of credit. This is the best option because when your house eventually closes you pay off the line with no penalty. It will also close because the line of credit is tied to the house you are selling.
Bridge Mortgages are common place and financial institutions are accustomed to granting them.
On October 25, the bank announced for the ninth consecutive time that it was holding the rate at one per cent, where it has been since September 2010.
Two economists predict the Bank of Canada will slash its benchmark interest rate from its current level of one per cent next year.
Bank of America economist Sheryl King said Wednesday she expects that the central bank will cut the rate to 0.25 per cent by early next year.
And David Madani, Canadian economist at Capital Economics, predicted the bank will lower its rate to 0.5 per cent next year, perhaps in April or June.
What does this mean for the Real Estate market?
THE MARKET BUBBLE PARTY KEEPS ON GOING!