The government announced proposed changes today that could affect the real estate market significantly. A backgrounder on what the proposed changes are and some of the ways they COULD impact the real estate market was published by the government to explain them.
As always, we want to keep you informed and ready to take action with regard to your real estate. Your home is likely the single biggest asset that you will purchase or sell. When external forces affect its value, we want you to be aware of them.
The proposed changes provide for interest rate stress testing for mortgages as well as changes in the amount of risk that lenders themselves have to manage in lending. Currently nearly all of that risk can be passed on to mortgage insurers and indirectly to the government.
Finally one of the proposed changes that could have more of an impact in specific markets is a change to the capital gains exemption in certain cases. This will likely impact some niches and areas more than others. Would you like to discuss what this means for YOUR homes value and YOUR real estate purchase or sale decisions? We are happy to do that. Please call us today and we will set an appointment to go over any questions you have.
Changes in the market are opportunities if you know how to react to them. We look forward to helping you find those opportunities.
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