As with every market, the real estate sector experiences its fair share of ups and downs. According to the Canadian Real Estate Association
(CREA), annual residential sales activity in 2007 was up 7.6% from 2006 levels. CREA predicts that the average residential property price will increase by a healthy 5.5% in 2008.
Knowing when to enter the market can be a difficult decision in an environment where property prices are rising. However, with mortgage rates
continuing to sit at near-20-year lows, now is as good a time as any to jump into the market as a buyer or a seller.
Here are some tips to get your house hunt started:
around to count “for sale” signs and get a feel for activity levels.
can usually secure an interest rate guarantee for up to 120 days from lenders to protect you from fluctuating rates.
fluctuations in rates and market activity.
Mortgage brokers work closely with homebuyers to assess their personal and financial goals and develop a home ownership plan uniquely tailored
to their clients.
This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.