Open House- The Real Estate & Mortgage Show: May 26, 2018
The importance of properly pricing your home to sell, the advantages of the new lower rate variable rate mortgages and the benefits of alternative lending are all covered in this week’s edition of Open House: The Real Estate & Mortgage Show.
Pricing your home, especially in a sellers’ market, is imperative to reach potential buyers.
The multiple offer environments that buyers are finding themselves in can be negotiated with an experienced Real Estate Agent. A seasoned Real Estate agent is equally important on the sellers’ side to help manage the offers and get the most money for your home.
In the area of mortgage rates, the drop in variable mortgage rates has stirred a lot of requests for mortgage financing reviews and there are many clients that would benefit from the interest savings. The prime lending rate would need to increase by 0.25% four times in order to catch up with the current fixed interest rates.
When it comes to choosing your real estate and financing team, it’s always important that they are acting in your best interest and that they work to build a long standing relationship.
Over the next 3 years, 50% of millennials interviewed are going to be looking to get into the housing market. With the tightened mortgage rules, it may come as a challenge to qualify.
When new industries branch into the outskirts of Ottawa, it appreciates the value of the surrounding areas significantly.
When looking at the need for alternative lending, Frank reminds the group that these are meant to be short term solutions of usually 1-3 years to help get, or keep, people in the market.
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