Montreal remains a real estate sellers’ market as sales break records in August

MONTREAL -- Montreal's real estate market remained hot in August, breaking records for sales as it did in July. The sales record matches those in cities across the country. Some experts say, however, that the market is simply playing catchup from the spring when sales halted and real estate purchases ground to a halt. In August 2020, 4,878 residential sales were concluded, which is a 39 per...

What to do if your mortgage deferrals are almost over and you can’t pay

  As the summer turns into fall, the six-month vacation thousands of Canadians have taken from their mortgage payments will be over. As of the end of June, 760,000 people had put their mortgages on pause, according to the Canadian Bankers Association. And for a significant portion of them, the grace period will close in the last few months of 2020. The mortgage deferrals, which the...

Canada’s mortgage ‘stress test’ level falls for 3rd time since pandemic began

Rate falls to 4.79% to theoretically allow a borrower to be approved for a larger loan.  The bar at which the finances of Canadian mortgage borrowers gets tested has just been lowered, making it easier for would-be home buyers to reach. Five-year posted mortgage rates at Canada's big banks have inched lower in recent weeks, enough to compel the Bank of Canada to formally...

Montreal-area residential sales jump 46% in July, setting new record for month

  This marks the second straight double-digit increase in Montreal-area property sales, following June’s 16 per cent advance. Montreal’s residential real estate market continued to play catch-up last month. Some 5,356 residential property sales were concluded in Montreal’s census metropolitan area in July, a 46 per cent surge and a new record for the month, according to data...

Remember these 5 factors when hunting your next Home

When you will start looking for your new home. There will be a lot of things and factors that you need to evaluate and see what fits your needs. Every buyer has a different set of home requirements, needs and tastes. So, it is worth taking the time to discover what you want, what has the most value, and what will pay off in the future. A real estate agent can only help you with the task he understands...

Working With a Real Estate Broker

  Given the amount of money involved and the complexity of the transaction, the sale or purchase of a property deserves careful planning and ongoing support. The road that leads to the sale or purchase of a home may include obstacles along the way and stressful situations (legal documents, negotiations, multiple offers, etc.), but the presence of a real estate broker provides you with an...

5 Signs That You’ve Picked The Best Real Estate Agent

There are thousands of Real Estates Agents across the country, so which should you trust when you need to buy or sell a home? Narrow down your options by looking for these 5 signs that indicate your Agent is trustworthy: 1. You’re impressed with how they represent you and themselves You don’t have to be head over heels in love with your real estate agent, but you need to at least enjoy being...

7 Tips To Help You Choose The Best Real Estate Agent

Buying or selling real estate is one of the biggest transactions you will ever make in your life, so arming yourself with the very best person to assist you is essential. Often, people select a real estate agent based on a recommendation from a friend or family member. This isn’t wrong, and it certainly isn’t a bad place to start, but you should also do a bit of your own due diligence to...

First-Time Homebuyer? These Rebates, Credits Can Save You Money

Canadians can save thousands of dollars with government programs. Purchasing a house in Canada is tricky at the best of times, but getting into the property market for the first time is especially tough. To help with some of the costs of buying your initial home, there exists a range of programs for eligible first-time homebuyers. It’s a good idea to learn about these programs to avoid leaving money...

Montreal’s residential real estate market shrank in May, but prices did not!

Montreal’s residential real estate market shrank for a second straight month in May, though prices continued to climb despite the health-related lockdown. Residential property sales in the Montreal Census Metropolitan Area tumbled 41 per cent last month, with 3,286 transactions recorded, according to data released Friday by the Quebec Professional Association of Real Estate Brokers. Prices for...

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