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The Show is a weekly podcast giving Canadian Home Buyers advice,information & helpful tips of what you should know about buying real estate in Canada’s hot real estate Market. #realestate #canada #mortage #ontario #cambridge
Episodes
Tuesday Nov 01, 2022
Tuesday Nov 01, 2022
Let me give you the skinny on what happened yesterday with the, interest rate changes here in Canada.
Obviously, everybody knows, cuz everybody on TikTok and LinkedIn and Instagram and Facebook are all telling you that rates have gone up by half a point.
So here's the bottom line. The rate or the payment that you qualify for has not changed, obviously.
Okay? What you qualify for is a percentage of your income.
That's it. You can't change that unless your income changed. So if the point, if the interest rate went up by half a point, uh, the bottom line is you've lost basically 5% of your, uh, purchasing power.
I, the way on my calculations is, as for every quarter point that rates go up, you lose about two and a half percent.
Okay? So we're just under that. So I guess the good news for buyers is that your, your purchase price is gonna change if you're dealing with a seller that needs to sell.
They need to adjust to the marketplace, otherwise you're not gonna buy their property cuz you just plain don't qualify. So you're going to have to find a seller that's goingto cooperate to that.
So the good news is buyers, you get a better deal. Sellers bad news is, is you're not going to get as much money.
Now remember this buyers, purchase price is permanent.
Mortgage rates always change.
Remember that, take advantage of the market the way it is now because, uh, when interest rates go back down, you have locked in a price based on higher interest rates.
So this is good news for you, buyers and sellers. Hang in there. If you don't have to sell, hang on but if you do, you gotta take it on the chin.
Monday Oct 31, 2022
Monday Oct 31, 2022
So a lot of people are wondering what the value of their home is these days, given the adjustment in the marketplace.
So what I'd like to do is invite you to a website I've created called Value of my home.ca.
You just need to click on that red link down there, where it says, Get my home value now.
Then once you do that, you'll be taken to this page right here. And all you gotta do is just put your address in that box there.
I think after that I'll ask you a couple questions about your property and your email address, and we'll send you a market evaluation of your property.
Some of the comparables are a little wonky because it is a, you know, an automated system, but it does give you a good general idea of what's happening in your marketplace right now.
So go ahead and use it if you like, valueofmyhome.ca and if you need to reach out to me, um, my link's in the bio. So, please go ahead and do that.
Have a great day.
www.valueofmyhome.ca
Thursday Oct 27, 2022
Tuesday Oct 25, 2022
Monday Oct 24, 2022
Friday Oct 21, 2022
Friday Oct 21, 2022
Commandment #2 Thou shalt not buy a car truck or van or you may be living in it
Thursday Oct 20, 2022
Tuesday Apr 26, 2022
Friday Apr 15, 2022
Friday Apr 15, 2022
Welcome to this episode of The Real Estate Mortgage Show! How is the real estate industry at this point? Is it wise to buy first and then sell, or do you want to take a risk? Are there any possible alternatives for financing a property? Today, Walter Monteiro answers these pressing questions, the “disruptions” in the real estate industry and why it’s crucial to listen to your mortgage professional.
Standout Quotes:
- Lean on your mortgage professional to guide you through the real estate process. – Walter
- Remember, there are still not a lot of homes for sale. Canada is letting in 400,000 new Canadians into the country every year. A large majority of them don’t leave the Greater Toronto Area. – Walter
- Everybody has been giving you the advice that you should buy first before you sell. Because when you sell your home, you have nowhere to move to. – Walter
Key Takeaways:
- If you decide to buy a property, ensure that your finances are in order. You need to have multiple plans at your disposal if one plan doesn’t work.
- Walter advises being cautious when converting mortgages to a fixed rate. You either write it out or lock in shorter terms for a lower rate.
- It is better to choose real estate over money sitting in a bank because inflation erodes money’s purchasing power.
- If you can’t leverage bridge financing, you can go for private financing. However, keep in mind that private financing is not cheap.
Episode Timeline:
[00:00] – Introduction
[01:58] – What’s happening at MLS right now?
[02:55] – Bank rate increase in Bank of Canada
[03:33] – Mortgage conversion
[05:38] – Bridge Financing
[06:00] – Financing Alternatives
[07:14] – The effects of Inflation
[07:47] – Walter’s prediction
Phone: 519-240-0360
Email: walter@maximumresults.ca
Thursday Apr 14, 2022
Thursday Apr 14, 2022
In this episode of the Real Estate & Mortgage Show, our guest is Brian O’Neill. Together with her wife, Katie, Brian has a personal experience before, which led them to establish BKW Property Solutions. They aim to teach both the buyers and sellers of properties what they need to know. Tune in and see how their personal experience turned into the successful business that they have now.
Standout Quotes:
- “You have to change your approach, especially if you’re an investor. If you’re a buyer and if you’re a seller, the same thing, you have to change your approach and adapt.”
- “You want to make sure that your agreement is reviewed by an attorney. That would be what I would look at to ensure that this is a viable option and you are protected as a seller.”
- “If you can wait for your equity and sell your house on seller financing, you will get way more money for your house.”
Key Takeaways:
- As a real estate investor, buyer, and seller, you must change your approach and adapt according to your market niche. This enables you to have a successful transaction.
- To avoid being taken advantage of, your agreement and contract must be reviewed by an attorney in every transaction that you do. This gives you protection and ensures that you have a great deal.
- Selling your house in seller financing allows you to earn more. This is only applicable if you’re not rushing to sell your house.
Episode Timeline:
[00:07] Brian’s Real Estate Journey
[02:10] Lowering the Price
[03:12] Alternative Term Structure
[05:10] Assignable Agreements
[06:57] Why should sellers go for the alternative solution?
[08:16] As a seller, how do they know they are not being taken advantage of?
[10:45] When can somebody absolve the ownership and responsibilities of properties?
[12:19] Finding prospective clients
[15:23] How does Brian Help as a Coach
[17:08] Running a Business and The Cost/Fees for Coaching
[20:40] Where to Reach Out
[22:22] Closing
Learn more about Brian O’Neill and the BKW Property Solutions at:
Website: https://bkwpropertysolutions.com/
Facebook: https://www.facebook.com/bkwpropertysolutions/
YouTube: https://www.youtube.com/channel/UCoBJ-6U3xKLeSaT8QqgY8GA
Instagram: https://www.instagram.com/bkwpropertysolutions/
Learn more about the free master’s class at:
Website: https://smartrealestatecoach.com/
Master’s Class: https://smartrealestatecoach.com/mastersclass/