Welcome friends, family & clients alike to the November edition of this month newsletter.
This edition is especially important as we will begin to cover a number of topics that will hopefully leave you better prepared to face the Real Estate market.
Whether you aspire to purchase a property which suits your needs, or when trying to sell one of your very own, our intent is to support you along the way.
On the buying side, the focus will be on the upcoming (and dreaded) hike in interests rates, and what these proposed changes could mean to your bottom line.
Winter is also fast approaching and we will try our best to ease you into the cold with a few tips. Whether preparing your home for the season, or when looking at properties under heaps of snow, there are always things to keep in mind and be aware of!
For sellers, it would appear as though higher levels of inventory will continue to be the trend in the forseeable future. The expected increase in interest rates will ultimately leave fewer people with the buying power they have under our current favorable rates.
This would suggest that while we are in a buyers’ market, the consequent rise in interest rates will force certain buyers to reassess how much can be borrowed and which opportunities to pursue.
The good news is for those who are already locked into reasonable rates, and great news still for those who get pre-approved in the limited time available before these mortgage changes are likely put into effect.