You may or may not have heard the term “Absorption Rate” before. Prior to becoming a Realtor® I had never heard the term before. Essentially, Absorption Rate is the number of months it would take to sell off the current inventory of houses if no new properties were listed for ...
Continue ReadingPRE-APPROVAL, PRE-APPROVAL, PRE-APPROVAL Before you go house shopping, it is very important to know what you can afford! There is no point falling in love with a $600,000 house if you can only afford a $400,000 home. There are many mortgage payment calculators out there that will calculate your monthly ...
Continue ReadingYou may have heard that the Department of Finance recently announced that as of October 17, 2016 the rules for qualifying for a “high ratio” mortgage will change. You can view the entire announcement HERE. The part that will affect most people is: Applying a Mortgage Rate Stress Test to ...
Continue ReadingI work with a ton of first time home buyers. They might be my favourite type of buyer. They are almost always super excited! Usually, they have been renting for a while and have recently realized the benefits of owning their own home. The 3 most common types of properties ...
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