Real Estate Blog

 

Since 2016, the number of Canadians living alone has surpassed all other household sizes, accounting for 28% of the population at the time. Today, this number continues to grow as the average size of a Canadian household shrinks. For the first time, there are more one-person households than four-person households and thus, more single homebuyers than before. As the face of Canada changes, so does the face of the average homebuyer.

Although singles make up the more significant percentage of the home buying market, the financial burden of buying a home can be difficult to carry alone. Without a partner to split expenses, singles are foregoing another person’s income to help pay for the bills of owning a home. Especially when it comes to property

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The vendor take back mortgage allows the seller of the home to lend money to the buyer for the purchase of their own property. The property has to be owned outright by the seller, meaning there can’t be a mortgage on the home at the time of selling.

Everything you need to know about Vendor Take Back Mortgage

  1. What is Vendor Take-Back Mortgage
  2. How is Vendor Take-Back Mortgage beneficial for buyer and seller?
  3. Why consider a Vendor Take-Back Mortgage
  4. Benefits of a Vendor Take-Back Mortgage
  5. Vendor Take-Back Mortgage seller considerations
  6. Vendor Take-Back Mortgage buyer considerations
  7. Advantages of Vendor Take-Back Mortgage to property investors

What is a Vendor Take Back Mortgage?

The vendor take back mortgage enables

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Canada’s westernmost prairie province is experiencing unprecedented market activity. From urban cities to rural areas there’s something exciting for everybody in this province! If you’re searching for your next home, then Alberta may fit the bill as an ideal market for hopeful homebuyers. Here’s what’s you need to know if you’re currently thinking about purchasing a home in this province:

Home Sales Across Alberta

In Calgary, home sales have risen month to month, especially for detached and semi- detached homes. However, year over year sales have declined by 15 per cent reflecting the continued uncertainty in the market.

Despite these downward trends, favourable borrowing conditions may spark more activity in the Calgary real estate

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Canadian housing market expected to remain active for the remainder of 2020 due to pent-up demand and low inventory levels, say RE/MAX brokers and agents

Canadians showing more interest in suburban and rural homes for sale, as work and life dynamics shift 

  • Canadian housing prices anticipated to increase by 4.6% in the third and fourth quarter according to RE/MAX brokers and agents. This is compared to the earlier prediction by RE/MAX brokers and agents of +3.7% at the start of the year.
  • 32% of Canadians no longer want to live in urban centres, opting for rural or suburban communities instead.
  • Canadians are almost equally split in their confidence in Canadian housing market, with 39% as confident as they were before the pandemic, and 37%
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There’s no doubt that 2020 has been a challenging year for many Canadians. While health and safety parameters such as social distancing have affected the economy, real estate has continued to operate as an essential service, and appears to have weathered the storm – at least for now.

Depending on your financial situation and the government’s interventions to bolster the economy, first-time homebuyers may be encouraged to set their sights on ownership. While there was a dip in activity at the outset of the economic shot-down, with fewer home sale transactions in March across major Canadian cities, the market bounced back much faster than anticipated and there are opportunities to explore.

In response to the pandemic and even prior to it, real

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Most Canadians are working from home now, and we’ve all read a half-dozen articles on tips on making the most of it.

But did Canadians forget to keep an eye on their home insurance policies?

It depends on the nature of your work and your employment status, but yes—there’s a possibility that your home insurance policy may need an update if you’re working from home

Employees Working From Home Are Probably Fine

While every home policy is different, it’s unlikely that working from home as an employee would change your home insurance rate. Jobs that actually can be done from home usually involve little more than laptops, inherently making them low-risk activities.

Working for an employer at a desk job doesn’t carry the same risk as running the

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As post-secondary students resume their studies across Canada this fall, they will be spending less time on campus and more time in front of their computers as colleges and universities begin the fall semester with the majority of learning happening online. 

That means where they live and the amenities offered just became that much more important. Many university residences are limiting the number of students living on campus, capping occupancy at 30 to 50 per cent in September to prevent community transmission of the novel coronavirus. Shared dorm rooms will now be for individuals only. Homestays are also in jeopardy, as landlords remain concerned about the virus entering their homes.

That has left some post-secondary students scrambling

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Once you have worked with your Realtor to plan the sale of your home, you need to roll up your sleeves and prepare your home for a marketing blitz and viewing.

Preparing your home takes objectivity. Look at your home through the eyes of the buyer and ask yourself what you would expect. Even better, ask your agent to take you to competing open houses in your area, so you can see the condition of homes you’re trying to beat. Remember that most buyers are viewing at least a dozen homes before they make an offer. Yours needs to stack up against the competition.

Property Risk Protection
  • Declutter your home.
  • Make minor repairs.
  • Paint the interior and exterior (if applicable).
  • Tidy-up outdoor areas.
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Bank maintains overnight benchmark rate at 0.25%

As expected, the Bank of Canada announced that it is holding its key interest rate target at 0.25%, acknowledging an “extremely uncertain” economic outlook and the hefty impact of COVID-19. The Bank will also continue to buy Canada bonds at a cost of at least $5 billion per week, to help keep interest rates low and markets functioning well. Together, these measures are intended to promote economic recovery as restrictions continue to ease across the country.

The next interest rate announcement is scheduled on September 9, 2020. Read the release below:

While economies are re-opening, the global and Canadian outlook is extremely uncertain, given the unpredictability of the course of the

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Open House 

Saturday July 18 1-3PM

 

PRICE REDUCED !!! Here is you chance to be a part of a special adult community in Parkbridge Estates!This very well kept home is one of the newest in the park built in 2015, it's almost like new, and still has warranty included.

3331 31 St S

 

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