Friday, August 28, 2020 / by Earl Gaddi
Under normal circumstances, putting your property on the market may be an overwhelming process, even for the experienced homeowner. This year may feel particularly daunting given the lack of knowledge surrounding the pandemic and market stability.
A slow spring gave way to a promising summer market in real estate. In July, the Canadian Real Estate Association (CREA) reported national home sales bounced back from their pandemic-induced springtime lows, rising by 26% month-to-month. If this recovery momentum continues, the usually busier fall season could see a wave of homeowners listing their properties with plenty of buyers waiting to snap them up.
Keep a Finger on the Pulse
With markets shifting as a result of coronavirus, it is important to keep track of what is going on and to respond accordingly. Make sure your listing agent has a pulse not only on the area they serve but also on the overall base market and other emerging trends. For example, if you're selling a single-family . ...
Wednesday, August 26, 2020 / by Earl Gaddi
If you work with a family lawyer or a financial planner, you probably already know the importance of a regular review of your estate plan. Usually, an annual inspection (or more often, if advised) is a good idea.
But even if you're not working with a legal or financial professional, you should know that there are three moments that should trigger a review of your estate plan.
If you or your loved one experiences one or more of these moments, it's time to get the paperwork out and review your plan.
At least six elements should be included in the estate plan. These elements do not need to be in separate documents, but all six of them need to be addressed in order to make clear what should happen to your estate, assets, and any dependent loved ones. These six elements shall include:
Will (a document outlining how assets should be distributed);
Power of Attorney (a document that states that you can make legal and financial decisions on your behalf if you become d ...
Wednesday, August 19, 2020 / by Earl Gaddi
The number dropped dramatically in March and mid-April when the economy was shut down in The residential real estate market has definitely been the shining light in this country’s current economic situation. All-time low mortgage rates coupled with a new appreciation of what a home truly means has caused the housing market to push forward through this major health crisis. Let’s look at two measures that explain the resilience of the real estate market.
The number of buyers getting a mortgage to purchase a home is a strong indicator of the strength of a housing market. Below is a graph of the week-over-week percent change in that number, as reported by the Mortgage Bankers’ Association:
The number dropped dramatically in March and mid-April when the economy was shut down in response to COVID. It increased substantially from later in April through the middle of June. The strong increase in May and June was the result of the pent-up ...
Wednesday, August 12, 2020 / by Earl Gaddi
With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs. Do I still need to live close to my company’s office building? Do I need a larger home with more office space? Would making a move to the suburbs make more sense for my family? All of these questions are on the table for many people as we ride the wave of the current health crisis and consider evolving homeownership needs.
According to George Ratiu, Senior Economist for realtor.com:
“The ability to work remotely is expanding home shoppers’ geographic options and driving their motivation to buy, even if it means a longer commute, at least in the short term…Although it’s too early to tell what long-term impact the COVID-era of remote work will have on housing, it’s clear that the pandemic is shaping how people live and work. ...
Tuesday, August 11, 2020 / by Earl Gaddi
Boy... It's HOT and not just the Weather
You do not have to be a weather person to predict the weather this time of year. We all know… it is the hottest time of the year. But that is not all that’s hot. The economy is red hot too. By all measures the best economy in 20 years or so.
This is GOOD for most reading this, but there will be some exceptions. There always are. An example could be someone who will sell a house and make out great, meaning a buyer pays a bit more than they would have not too long ago. And in some areas, the opposite happens. Seller does not make out that great, but the buyer does.
Most homeowners who do NOT have to sell of course know this and will hold back on buying or selling. That will of course impact supply and demand. Results right now? RED HOT opportunities!
How does this impact you? Well, it is a HOT time to invest in real estate. Single-family, multi ...