Gerry’s Blog
The Edmonton real estate market will favour sellers in 2024 as prices rise and sales activity slumps, according to a new RE/MAX report that looks at the 2024 Canadian housing market. Over the next year, the average sales price of a home in Edmonton will climb four percent to $416,860, while sales are projected to…
The talk of the town as of late has been interest rates. How long will the Bank of Canada (BoC) keep its policy rate at five per cent? Will the central bank cut rates this year? Will mortgage rates slide to four per cent by the year’s end? Indeed, there are many questions that buyers,…
Selling a home is more than just a transaction; it’s a pivotal step in life’s journey, especially for move-up buyers looking to sell their current home to purchase a larger or more luxurious one. Maximizing the selling price of your home is crucial in this process, as it directly impacts your financial ability to move…
A move-up buyer is someone looking to sell their current home and purchase another one that is typically larger, more expensive, or better suited to their evolving needs. They are distinguished from first-time homebuyers because they have already bought a home and have built equity in their existing property. Some move-up buyers might be looking…
You’ve likely heard people lauding the benefits of home ownership. Canadian real estate has historically seen solid long-term gains, which bodes well for existing homeowners and those who plan to buy and keep the place for the long term. There are several other benefits of owning a home, including a roof over your head, a…
In recent years, affordability has been one of the chief topics in the Victoria real estate market, whether housing prices or higher mortgage rates. According to the Victoria Real Estate Board (VREB), the Home Price Index benchmark price for a single-family home in November was nearly $1.3 million, up three per cent from the same…
An affordable real estate market in the Ontario housing sector? This might be hard to believe at first, but there is a place in the province where prices are certainly in the realm of affordability, something that prospective homebuyers have been desiring for years. The Sault Ste. Marie real estate market is the cheapest city…
This past summer, the nation’s chief bank regulator imposed new rules against home equity lines of credit, also known as HELOCs. The Office of the Superintendent of Financial Institutions (OSFI) installed a cap on borrowing available through HELOCs as part of efforts to strengthen Canada’s banking system. In other words, many Canadians will notice a…
Home-buying activity continues at a frenzied pace in the Calgary housing market, as affordable housing values and lower tax rates incentivize an increasing number of out-of-province buyers to move to Alberta, according to RE/MAX Canada’s 2024 Tax Report. In the first three quarters of 2023, the province welcomed just over 45,000 interprovincial residents, according to…
After a flurry of activity at luxury price points in the Toronto housing market in the final quarter of 2023 due to upcoming changes to the city’s 2024 land transfer taxes, the market has slowed in the Greater Toronto Area, according to RE/MAX Canada’s 2024 Tax Report. Sales are currently trending on par or slightly…
Owning a home is a keystone of wealth… both financial affluence and emotional security.