Gerry’s Blog
One word might be best to describe the state of the Vancouver real estate market: Booming. After a modest drop in sales activity and home prices last year amid the Bank of Canada’s (BoC) inflation-fighting crusade, one of the world’s largest housing markets is enjoying exceptional gains despite rising interest rates and a slowing national…
Deposit and down payment–two words that are commonly used and often interchanged. While they’re both upfront costs in the home buying process, the two terms are entirely different. A deposit is money you attach to an offer to show a home seller that you’re interested in buying their property. A down payment is a percentage…
As far as “slam dunk” marketing goes, RE/MAX will be continuing its wildly successful Spring 2023 “Advice You Need” campaign this fall, featuring basketball icon Kyle Lowry. Launching to the public on October 2, the campaign will run for six months and showcase Lowry in four ads, including a 30-second, a 15-second, a 10-second and one…
In the dog days of summer, the Toronto real estate market was not as hot as the previous year, driven by rising borrowing costs, economic uncertainty, and limited inventories available in the housing industry. According to the Toronto Regional Real Estate Board (TRREB), residential property sales tumbled slightly more than five percent year-over-year in August,…
Is it time to refinance your mortgage? With the average conventional five-year fixed-rate mortgage rate approaching six percent, homebuyers who might have purchased a home at rock-bottom rates recently might not want to refinance their mortgage. Others, especially those who are on a variable-rate mortgage, may need to refinance their mortgage. Whatever the reason may…
Calgary, located in the heart of Alberta, presents a unique proposition for the discerning home buyer. One of the most appealing aspects of Calgary is its quality of life, frequently ranked among the top in North America. The city offers a wonderful blend of natural beauty and vibrant urban life. Nestled near the foothills of…
Are rumours of the deaths of shopping malls and plazas greatly exaggerated? It is no secret that shopping mall traffic is not what it used to be. While they have been around for decades, shopping trends have been drastically altered, especially in the aftermath of the pandemic. This has forced commercial property managers, retailers, and…
The Barrie real estate market has rebounded at a significant pace since last year despite rising interest rates and a slowing economy. But can this component of the Ontario housing sector maintain its momentum in the home stretch of 2023 and heading into 2024? This is the $824,900 question for market observers. According to the…
Many prospective homebuyers often think that the only costs they will incur are the home’s asking price and interest on the mortgage. However, there are additional costs involved, especially in certain jurisdictions across the country. Mortgage origination fees, closing costs, taxes, and other charges are the norm. And when buying a home in the Toronto…
The Calgary real estate market has experienced an influx of homebuyers from other provinces keen on acquiring investment properties. One significant driving factor behind this trend is Calgary’s relatively affordable real estate prices compared to Canada’s other major urban centers. Compared to other provinces, Calgary has successfully steered clear of a housing bubble. This makes…
Owning a home is a keystone of wealth… both financial affluence and emotional security.