On October 15, 2020 the Bank of Canada announced, that they will stop the Canada Mortgage Bond Purchase program in the week of October 26, 2020. In their explanation the bank stated, that improved
Real Estate Market during COVID-19
Dated: April 14 2020
Views: 97
Three facts and our conclusion from COVID-19 and the real estate market
Market Activity:
Our real estate market still is seeing a number of new listings and daily sales happening. Although these numbers are not on par with pre-virus numbers, pricing seems to be stable for now.
Showings/Negotiations:
There are additional disclosures in place, especially regarding the travel history of the potential buyer/seller for the last 14 days. Once a property is identified, more research like drive-by, virtual tours, online neighborhood search should be undertaken before scheduling a showing. Once a showing has been set, protective gear like gloves need to be worn at all times and instructions from the REALTOR® need to be strictly followed.
Tenant's Rights:
The province has strengthened the rights of tenants during this pandemic, which now, more than ever has to be taken into consideration when thinking about selling a home.
In the end, the market is still moving and all essential services including lawyers, notaries, the land title registry etc. are still operating.
Your personal situation should now be analyzed more carefully in detail by a professional real estate agent of your choice and we are gladly available.
We live were we work and love helping our neighbours through these difficult times.
Frank and Sherry Heitzer
Frank and Sherry Heitzer are partners in business and in life. While Frank was born and raised in Regensburg, Germany, Sherry was born and raised in Langley, BC. Both of them started their working liv....
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