Sept. 27, 2021

We Have Your Back

This is dedication... I am proud to work with this amazing team! We put in long hours. We hard We work smart. We work with clients, new and seasoned Realtors. We Have Your Back!

Posted in Market Updates
Sept. 12, 2021

August Market Statistics

Posted in Market Updates
Sept. 9, 2021

EDMONTON MARKET MINUTE

September 9, 2021
MORTGAGE RATES AROUND 2.0%

Mortgage rates are back around the 2% mark! At the same time, Edmonton homes are appreciating with year-over-year values up 3%.

At these rates, your house will be worth more and the majority of your payments will go towards the principal.

Will these rates last?

Buy now.

  www.groverhomes.com  your home buying specialists.
Aug. 25, 2021

Three Interesting Facts

 
1 - Inflation is starting to rise as the economy seems to be gaining strength - Consumer Price Index (CPI), increased 3.7% in July

2 - Home prices in Edmonton increased 4.7% in July, year over year

3 - Interest Rates are steady - an RBC 2 year fixed rate is 2.09%.

Think about buying now as these trends seem to be consistent right now.

I will personally help you buy your dream home!  
Aug. 23, 2021

MortgageSandbox

Here are some interesting numbers from Mortgage Sandbox.  We are all wondering where rates may go and this is an interesting perspective

 

Posted in Buying a Home
Aug. 19, 2021

The Market Minute - August 19, 2021

ELECTION SEASON

Every political party has a strategy to ensure the housing market in Canada is stable. 

That's a relief. 

All of the major parties are focused on Affordable Housing.  That's good news for home buyers and support-related businesses. 

Do some homework, have a look at the different platforms:

https://www.conservative.ca
https://liberal.ca/our-platform
https://www.ndp.ca/commitments

Aug. 16, 2021

Mortgage Pre-Approval

Mortgage Pre-Approval: What Lenders Want To Know

 

mortgage pre-approval is an important first step in the home-buying process. Having a pre-approval in hand tells you how much you can spend on a home, and it locks in the current low interest rate for up to 120 days, so you can shop the market knowing you’re insulated from rate hikes in the near future. If the rate drops, your lender should honour the new lower mortgage rate when you’re ready to make your purchase.

The amount that a financial institution is willing to lend for a mortgage depends on a number of factors. Your lender will check your financial standing to determine how much you can borrow, how much you can afford, and which loans might be best-suited to your specific circumstances. Applying for a mortgage requires a written application and supporting documentation, and it can be a slightly intimidating process. Here are three things lenders will want to know before giving you a mortgage pre-approval.

3 Requirements for a Mortgage Pre-Approval

The lender will check your credit score.
Knowing your credit score will give lenders an inside look at your credit habits and history, and will help them decide if you’re a good candidate for a loan. You’ll be ranked on a scale of 300-900. Your rating gauges your financial health and indicates the level of risk you present to the lender. High scores are good news, and will typically secure a better mortgage rate, since you post a lower risk of defaulting on your mortgage payments.

The lender will check your employment history.
Lenders will ask for a list of your past employers, how long you’ve been with your current employer, and what your annual salary or take-home pay is. They want to make sure you consistently earn money with no major gaps in income, and that you can make regular mortgage payments over the long-term.

The lender will check your assets and debts.
Be prepared to show your past income tax records, recent bank statements and current debt amounts, including credit card balances, car loan, student loan or line of credit. Lenders want to know your debt-to-income ratio to determine if you can make each loan payment based on the income you earn and your other financial obligations. The lender will also require proof of your down payment.

Many lenders offer a mortgage pre-approval online, so the process is simple. Find a mortgage lender that you’re comfortable with. If needed, your RE/MAX agent can provide a referral. Have more questions about the home-buying process, or ready to move forward with your purchase? Contact a RE/MAX agent today, or download the RE/MAX Home Buyer’s Guide, for everything you need to know about the purchasing process.

 

Posted in Buying a Home
Aug. 12, 2021

LIVEABILITY FACTORS WHEN BUYING

There are many things to consider when choosing the home for you. It may seem obvious, but the importance of liveability and your wants and needs need to be addressed. Check out this list of the main liveability factors that you should consider when finding your next home.

Location

Location is key when searching for a home, as it is the one thing you can’t change. Try not to get too caught up in the emotional side of the house hunt and overlook important factors related to location, such as how busy the street is, what the noise levels are like in the area and the future of the neighbourhood.

Lifestyle

Your lifestyle is a huge factor to consider when house hunting. If you’re an outdoorsy person who enjoys activities like hiking and biking, being close to lots of green spaces and bike trails might be something to look for. If you are active in your community, consider looking for a home that is close to cultural, community and athletic centers.

Taking your lifestyle into consideration when purchasing a home can help ensure that you continue living a life that you love.

Proximity to Services & Work

When house hunting, take into consideration the potential home’s proximity to different amenities, such as hospitals and grocery stores, as well as restaurants and other shops. If these are spots you visit frequently, you don’t want to be driving a great distance to get gas or pick up dinner.

Schools are also an important factor to consider for parents, not just location wise, but also the reputation of the school. Being close to good schools is also great for resale.

Commute times are another important factor to consider when house hunting. Studies show that, the shorter the commute time, the happier the person.

 

Current Status & Future Plans

Taking your current status and future plans into consideration when house hunting is essential. Do you currently have kids, or are you planning on having kids in the near future? Do the homes you’re looking at work with that plan, or will you need to move up to a bigger home in the future?

Regardless of what your plans are, evaluate your current situation and look at where you may be in 5 or 10 years and  if the homes you’re looking at make sense.

 

Posted in Buying a Home
Aug. 3, 2021

July Market Stats

Posted in Market Updates
May 12, 2021

Market Minute

 - May 12, 2021
HIDDEN GEMS

There are some gems to be found in this housing market 

Houses that are on the market for 30+ days can often be great deals and a great houses.

Some houses have pending deals that fall through.  If the house becomes a pending sale and the buyer has a financing condition period of 14 days and the purchase falls through because the buyer can't find financing then the house has been on market 20+ days. 

That doesn't mean it's not a great house!

Don't get fixated on new listings...  search through the older ones as well.
Posted in Buying a Home