ADVICE
WHY IS OUR REAL ESTATE MARKET GOING BONKERS DURING A PANDEMIC ?
There are always unique factors in each market that drive activity but the common factor for all Canadian cities is the low cost of borrowing money . With interest rates at historical lows , investment markets , including real estate , have become very active . Many believe that we may not see interest rates this low again in our lifetime , which drives the desire to invest now , rather than later , even more .
Today , the real estate markets have been labelled as “ hot ” but what does that mean ? As a real estate professional , I prefer not to use those types of adjectives as they do not provide real insight into the current state of the industry . There are a variety of reasons as to why a market could be “ hot ” and each reason has a different impact on buyers and sellers . We are currently in a “ Low Inventory ” market which means there is less supply than there is demand . If more homes are listed for sale , eventually the law of supply and demand will cause prices to balance out . As long as supply remains low , prices will continue to rise . After all , the best investment on earth is earth ! - Geoff Pershick , www . northvancouverhomes . com
MORTGAGE
TRAVELING IN 2022
As vaccine numbers climb , most countries are beginning to open back up and Canadians are starting to dream about traveling once again . Of course , travel is not going to completely return to normal right away . It may be a year or two before we can travel internationally without first being aware of and planning for Covid-19 policies and procedures .
With each country setting its own policies and procedures , travel options will vary greatly . Some countries may still require prior approval to visit for non-essential reasons and there could be different quarantine rules upon returning home , dependent on where you visited .
In addition to being aware of the ever-changing regulations both here and at your destination , you will also want to ensure you have travel insurance that will cover medical emergencies during your trip . Many insurance plans require proof of vaccination in order to ensure coverage for Covid-related emergencies .
Cancellation insurance is another important consideration . Cancellation insurance for Covid-19 related reasons is not currently offered in Canada . With a travel advisory still in place , Covid-19 is a known problem and cancellation insurance only covers unforeseen circumstances . It is important , when booking , to pick the most flexible options to ensure you have options should you need to postpone .
With all these nuances to consider when planning a trip , your best bet is to speak with a trusted travel advisor . They will have the most up-to-date information and will be able to guide you in the right direction to create accurate expectations . There is nothing we want more than to hear from our clients that they had an amazing experience , and they want to go traveling again . With someone guiding you along the way , you can still have an excellent vacation even within the current restrictions ! - Heidi Lawrie , www . bsidetravel . com
Let ’ s face it , some bathrooms and bedrooms need some extra love after a few years . Maybe you finally want those custom closets in your bedroom or a freestanding bathtub in the ensuite ! How can you make these dreams a reality ?
Look no further ! Refinancing your mortgage is a fantastic way to obtain the equity that you need to finance your renovating plans . Refinancing is based on the available equity in your home . Most lenders will refinance your existing mortgage to 80 % of the current value of your property . Another solution could be to obtain a Home Equity Line of Credit , where most lenders will provide up to 65 % of the value of your home in the form of an open term line of credit .
Mortgages are like puzzles ; every situation is unique . Working with a mortgage broker who has access to over 25 lenders ensures your mortgage broker will be able to provide a comprehensive mortgage solution tailored to your specific situation ! So why keep dreaming if you can turn your dreams into reality ?! - Monica Falco , www . mortgageswithmonica . ca
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