CMHC is predicting a downturn in housing market and prices in 2021, however experts at Scotiabank disagree. Due to COVID, inventory is low, buyer demand remains strong and prices are surging. Bank of Canada are saying they will not raise interest rates until inflation hits 2% on a sustained basis, and that is not expected to happen in the next 3 yrs.
Inventory in Winnipeg remains low, around 1,100 homes for sale in our city right now. 30 of those are over 1 million dollars. Normal levels at this time are around 1700 homes. Great time to sell, right now.
📆 𝙏𝙝𝙞𝙨 𝙒𝙚𝙚𝙠 𝙤𝙣 𝙩𝙝𝙚 𝘽𝙡𝙤𝙜 📭
This week on Winnipeg’s Real Estate Blog we talk about some tips on decluttering your home. There are 7 things you can do to clean up your clutter, and help the environment and charity in the process.
Thinking of buying a house or condo which needs updating? Have you ever heard of ‘Purchase Plus Improvements Mortgage”? This is where, in addition to the normal purchase price, you get a little extra money lumped into the mortgage to help pay for the kitchen reno, new roof or bathroom addition.
We’ll have a nice chat with Mike Schroder of Mortgage Architects about this option, how to get it and what process to follow.