Buyer Remorse High as Real Estate Market Slows Down

Buyer Remorse High as Real Estate Market Slows Down

Over the recent weeks, multiple media outlets published articles stating that many real estate buyers have remorse across Canada.

Mainstream media love to sell attention-grabbing stories. One of the most effective ways to do so is by flashing fear in the headlines.

Buyers Remorse

The headline, "Buyer's remorse high as real estate market slowdown materializes," recently appeared on The Globe and Mail, CTV and even Bloomberg. It talks about an interview with a Toronto-based real estate lawyer, Mark Morris.

Mark shared that he has seen nine cases in a week where buyers want to back out of deals. And one Monday alone, he was approached by three sellers keen to use legal channels to keep…

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May 2022 Market Update

May 2022 Market Update

With the media continuing to give out negative views on rising interest rates and a slowing real estate market, should you be concerned in Calgary?

First, the increasing interest rates are not a surprise, and if you are in or get into a variable mortgage, there are still some very affordable options for you. Over the last two years, it's incredible how easy it was to become comfortable with nearly 0﹪ and when they come back up after the past two years, we are shocked?

As for the Calgary real estate market slowing like the rest of 'Canada' (aka Toronto and Vancouver), from what the media outlets are saying, it just isn't the same.

Our market had a significant influx of out-of-province buyers who emotionally purchased homes…

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Will Canadian Interest Rate Increases Crash Calgary's Market?

Will Canadian Interest Rate Increases Crash Calgary's Market?

Is it all over?

Are the rising interest rates in Canada the biggest threat to Calgary's real estate market over the next couple of years?

Lately, our team has been having several conversations about this topic with clients, reporters, and local magazines, and now, we want to put the record straight.

More than what the news headlines say, you need to look at two important factors to understand what is happening in the market. First, you need to analyze how interest rates change historically, then study the current supply in the market.

Interest Rates

Lindsay Labrecque, a mortgage broker shared historical information with our team to talk about the changes in…

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Should You Sell Your Home in the Spring or in the Fall?

Should You Sell Your Home in the Spring or in the Fall?

Is it better to sell your home in the spring or wait until the fall?

The best answer is always based on your goals and life restraints. Choosing the timing of selling your home can be tricky. You need to consider so many variables like your family’s preferences, your children’s school, work arrangements, and many other things.

And while you are thinking of strategies to sell your house, you need to give the same energy to finding your next home.

Here are three different charts to help you come up with an informed decision for your next move.

Sales vs New Listings

This chart shows the number of sales versus new listings in Calgary from February 2013 all the way up to…

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How to WIN a house when in Multiple Offers in 2022

How to WIN a house when in Multiple Offers in 2022

Knowing how much to pay for a home in a multiple offer situation is like figuring out when to take off your winter tires in Calgary.

Many frustrated buyers share stories about writing so many offers and not getting the home they want because of the lack of strategy.

Sellers’ Market

If you are buying a home in Calgary right now, there is a big chance that you will encounter a multiple offer scenario. The first thing you need to understand is that, when you are in a multiple offer situation, you are in a seller’s market.

The best way to win in a seller’s market is by playing their game! You need to look at how to reduce the seller's risk. This might not seem fair because you are the…

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What $750,000 Buys You in Toronto, Vancouver or Calgary

What $750,000 Buys You in Toronto, Vancouver or Calgary

Families enjoy all sorts of activities and bonding time at home. That is why home affordability is very important. However, recently, the average house price in Canada has been soaring past $700,000!

Below is a comparison of properties priced at $699,000 to $750,000 that you can get in Vancouver, Toronto, and Calgary based on realtor.ca

Homes in Toronto below $750,000

When you search for homes between $699,000 and $750,000, you will find several one-bedroom, one-bath type properties.

In Toronto, one condo is priced at $729,900 with one bedroom and one bath. It measures 741 square feet with a 120 square foot balcony. New appliances, barn doors, and closet organizers are all part…

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You Shouldn't Buy Pre Construction Homes in Calgary Right Now

You Shouldn't Buy Pre Construction Homes in Calgary Right Now

Saying that now is the worst time to buy a new home is a strong statement. Here is some data that you can analyze to understand if this is true or not.

A newly-built house is a significant investment for your family, so you have to consider various factors to ensure that your future will be manageable.

Rising Interest Rates

The first thing that you need to understand is that you cannot lock in your interest rate. If you sign a contract for a home that will be ready for possession in the next 16 to 24 months, you will not be able to lock in the interest rate upon the signing date.

According to the Mortgage Sandbox forecast, interest rates could be anywhere between 3.3%…

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March 2022 Market Update

March 2022 Market Update

With a record month for the number of sales in any given month, March 2022 is in the books.

There was an increase in the inventory that came to the market. However, buyers who have been waiting and possibly fighting for other homes quickly acted on these homes as the inventory still decreased overall. There is a strange phenomenon happening in our market regarding the pricing of homes.

SELLERS: When considering going to the market now, many sellers see some of the latest prices and think they can price their home 2-5% above the latest sales numbers and then wait and negotiate with a buyer to get that same sale price. The opposite is happening, and in most cases, sellers cannot sell this way. It doesn't work in this market,️…

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First Time Home Buyers in Canada

First Time Home Buyers in Canada

The future of first-time buyers is in jeopardy.

If you are planning to buy your first property soon, you have to finish reading this blog post before pulling the trigger!

Home Values Increasing

The first thing you need to know as a first-time homebuyer is that real estate values in Calgary are increasing now.

While other cities have constantly been seeing upward pressure on the prices of homes, Calgary had an up and down market in the past decade. Home prices here have not gone up much within the last five years. However, recently, Calgary started to have a steady increase in real estate prices.

Climbing Interest Rates

According to a mortgage company forecast, interest rates can go up to…

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Homes in Calgary Made $5,692 per Month Equity!

Homes in Calgary Made $5,692 per Month Equity!

More homeowners are getting convinced that NOW is the best time to sell their homes because of the rapid growth in the Calgary real estate market. People always ask us as a realtor, “Is my home really worth that much?”

Many sellers know what their home is worth, but they do not know how to make sure they get that amount.

Benchmark Selling Price

Look at the following numbers to better understand what is happening in the market that impacts the value of your home. The benchmark price of all homes in Calgary has gone up about 16% year over year.

All the properties in the city - detached homes, townhomes, and condos - had a 16% increase, which is equivalent to $68,300. That means, every…

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