Thursday, December 15, 2016

10 Years Later - Who Knew???


Well there you have it my friends !!   Anyone who bought in 2006 is in a good position as far as real estate.  The increase is 264% increase... Talk about crazy !

So can this continue into 2017... we will have to wait and see but TD Bank has increased their mortgage rates and I am sure more will follow.  Something has to slow this down.. if you are thinking of selling, now is the time.. but also consider where will you buy?   That is a key factor... and in a market where everything is selling within days, I would recommend buying first and then listing your home unless you have alternate living arrangements.

Also a good time for anyone looking to borrow, instead of paying 19.9% on balances on credit cards, consider using the new equity in your home for a PLOC registered against your property and that way you will pay Prime + which is a lot lower than 19%.. unless you can pay your balances off on your credit card in full every month.. which is what I highly recommend.

For those who would like to check their credit score .. you can go to www.borrowell.com and get a free Equifax credit score and it won't affect your credit score either.   I highly recommend everyone keep an eye on what their score is as it affects your borrowing power and the interest rates you will get.

I also want to take this time to wish you all a very Happy Holiday Season and I look forward to working with you, now or in the future and if you have any real estate questions, don't be afraid to ask !

Cheers my real estate friends !   Let's hope 2017 is a fantastic year for all of us with continued good health and happiness.

If you have friends or family looking for make a move in a New Year, please don't hesitate to pass along my name, I would be only to happy to help !

HAPPY HOLIDAYS !

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