It seems that the times of historic-low interest rates are behind us – for the foreseeable future anyway. So what happens if your mortgage is due for renewal in 2023? Maybe you are one of the lucky ones to lock in a 5-year rate at 2.0% or less over the last two years, and youContinue reading “What Do I Do If I Can’t Afford To Renew My Mortgage?”
Overall, 2015 was a great year for real estate in Sooke. Sales were up markedly, and prices also increased across the region. I’ve compiled a few statistics, and also the top five most-and-least expensive single family homes in Sooke this year. Finally, I’ll talk about predictions for 2016. Read on…
This morning, federal finance minister Bill Morneau announced changes that his Liberal government is making to CMHC-backed mortgages in this country. The changes were hinted at by well known Canadian Mortgage Trends blogger Robert McLister back on December 1st. The actual changes aren’t quite what he had predicted, but are pretty close.
Sales up, listings down. Prices…? It has been a busy spring and summer market for real estate in Sooke and all over the greater Victoria region. In the overall Victoria Real Estate Board trading area, sales as of August 31 showed a 21.7% increase in number of sales for August 2015 over August 2014, andContinue reading “Sooke Real Estate Update – Fall 2015”
Yesterday, the Victoria Real Estate Board released statistics for February 2015. While the rest of the country contended with a seemingly never-ending winter, the cherry blossoms were out early in Victoria and vicinity, and so, apparently, were the buyers.
Well – it’s been a while. Between being a busy dad, REALTOR®, 2014 president of the Victoria Real Estate Board, and a few other things, I certainly have neglected this blog. I’d like to start posting regularly again, even if it’s short bits and pieces. Let’s take a quick look at how the market hasContinue reading “Sooke Real Estate Market Update for February 2015”
Ah February, we hardly knew ye! The shortest month of the year has come and gone – and not including my trip to Winnipeg, I didn’t see a single snowflake – it looks like we’ve escaped winter this year in Sooke. But how did the real estate market do this month?
Where did January go? A fun start to the new year, a short trip to New York, and a couple of snow days and all of a sudden it was February! I’m going to try to keep track of statistics for Sooke at the end of each month and post them here so you canContinue reading “Sooke Real Estate Sales Statistics – January 2012”
Following a couple months of speculation, Finance Minister Jim Flaherty brought in some new regulations designed to tighten up lending practices and cool off the housing market in Canada. The government didn’t go so far as to reduce maximum amortization from 35 to 30 years, or increase minimum down payment requirements higher than 5%, butContinue reading “New Canadian Mortgage Qualification Rules Announced Today”
An initiative we started late last year at the Victoria Real Estate Board is giving us some excellent data on market trends in the Victoria BC real estate market. As a director and chair of a Communications Task Force, I helped devise a market survey that is sent out via email at the end ofContinue reading “Victoria BC Real Estate Buyer’s Profile – Where are the Buyers Coming From?”