Open House - The Real Estate and Mortgage Show
Steve, Frank and Paul discuss mortgage rates, first time home buyers, and what steps to take to sell your home in November.
This week on Open House - The Real Estate and Mortgage Show, Steve Gregory, Frank Napolitano and Paul Rushforth tackle many of the issues that are currently top of mind for Canadian home buyers, and home owners alike.
For individuals with a home on the market, November is the time to get serious on price and staging. Curb appeal, staging and knowing the market value are more important than ever. As Paul suggests, sometimes very small changes can make a big impact. A fresh coat of neutral paint, updating light fixtures and even renting furniture are easy fixes that can make your home show better. It is also extremely important to know what your home is actually worth, and what other homes in the neighborhood are selling for. Pricing your home too high and making small price adjustments over time will only extend the period your home will stay on the market.
Following an announcement from the Bank of Canada that the benchmark rate will once again be held steady at 1%, Frank discusses mortgage rates, and the importance of negotiation. Whether applying for a new mortgage or renewing, a slightly lower rate can make the difference of thousands of dollars over the long term. Frank suggests even clients that plan to renew with their preferred lender should shop their mortgage to an Ottawa Mortgage Broker first, which may allow them a chance to negotiate a better rate with that lender.