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After a quiet and snowy winter real estate market I am predicting a busy and competitive spring market. In fact it may have already arrived. Flat home sales and interest rate increases in 2018 have put pressure on real estate professionals and potential sellers to act quickly and close deals. And to add more fuel to the fire: NDP Leader Jagmeet Singh has announced his party is calling for a re-introduction of 30-year terms for CMHC insured mortgages (insert happy dance here).

Looking to get into the market? Here are 5 tips to get ahead of the spring market:

1. Get your documents in order

No the lender won't take your word on what you made in 2018... file your taxes, gather your pay slips & T4's. Better yet call your broker for your specific list.

2. Call your Mortgage Broker & Realtor

Get pre-approved. You can't shop with a price you THINK is affordable. Ask me for a referral to a realtor if you don't already have one or don't like the one you have.

3. Make your “Must Have” and “Would Like to Have” lists

Know what you are shopping for so even if its the first property you see you are ready to make an offer. This also helps your realtor find what you are looking for faster.

4. If selling - fix up & clean your home

De-clutter, de-personalize and get all the little fixes in the home complete. Consider a fresh coat of paint or staging to increase increase and possible sale price.

5. Be prepared to pay the price

Follow your realtors recommendation on this. If they say it's a good price don't let ego take over and try to low-ball an offer. There will be another buyer standing behind you ready to pay the price. Markets have been slack but properties will be well priced in a busy spring market.

If you are looking for more details on any of the tips above please contact me at katy@mackenziemortgage.com or 604-612-6970 and we will get you primed for the busy spring market!