WHY NOW COULD BE A GOOD TIME TO BUY A PROPERTY

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WHY NOW COULD BE A GOOD TIME TO BUY A PROPERTY
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• While the Canadian (and doubtless, global) real
  estate market took a significant hit during the
  peak of the Covid-19 pandemic, it has, perhaps
  somewhat surprisingly, rejuvenated itself in
  recent months. In fact, according to the Canadian
  Real Estate Association (CREA), activity
  throughout the month of August saw an increase of
  33.5 year-over-year, with the sale of homes
  reaching an all-time high. Now, however, things
  are beginning to slow down again, something which
  is not unusual as we enter the fall season.

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• But why did sales surge at such a time?
• Some of the main reasons why sales saw an
  increase could be down to interest rates,
  technology and consumer confidence levels. Lets
  look at each of those in a little more detail
• Interest rates
• A healthy housing market is essential for the
  health of the economy as a whole, and in knowing
  this, the Bank of Canada lowered interest rates
  during the peak of the crisis.

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• Technology
• Virtual tours of homes, e-signatures and
  dedicated client portals have all been developed
  and perfected by realtors over the last 5 years,
  making it much easier for people to purchase
  properties and finance digitally. Lockdowns had
  no impact on most of the property buying process.
• Consumer confidence
• In a recent report by Mortgage Professional
  Canada (MPC), it was found that 59 of the people
  who took part in the survey, had higher incomes
  or incomes equal to the amount that they received
  before the pandemic, and for those that took a
  pay cut, they believed the situation would soon
  improve.

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• With low interest rates, high consumer confidence
  levels, the finances to purchase a property and
  many digital options for financing and closing a
  sale, the real estate market is actually pretty
  healthy. Provided nothing unforeseen happens in
  the immediate future, the next couple of years
  are looking rosy for both first-time buyers and
  move-up buyers, and experts dont think the rates
  will change dramatically, and first-time buyers
  can get an extra boost from two government
  incentives, the First Time Home Buyers Incentive
  and the Home Buyers Plan.

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• So, if youre considering buying a property, this
  could be the right time to discuss your options
  in more detail, talk to a mortgage broker who can
  go through your individual circumstances with
  you, and help you to determine whether buying a
  property now, could prove fortuitous.

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• Red Key Mortgage is located in Calgary, Alberta.
  We are a boutique brokerage with high volume
  serving hundreds of clients locally and
  nationwide every year. We have a number of
  associates dealing in mortgages as licensed by
  the Real Estate Council of Alberta. Being the
  best Calgary mortgage broker, Red Key Mortgage,
  will provide all of your available options from
  the entire mortgage market and allow you to make
  an educated decision where you'd like your
  mortgage to go. Red Key Mortgage works with big
  banks in Canada, as well as over a dozen other
  AAA lenders. Best of all, our services are paid
  for by the lenders at no additional cost to our
  clients. If you are looking for 2nd mortgage in
  calgary, contact us today! We can't wait to get
  started.