Quite often we are asked about homes being sold through Power of Sale....otherwise known as bank sales. This differs from the foreclosures that we all hear about on TV and from the United States in that the banks do not actually own the homes, rather, the banks are selling the homes on behalf of the actual owner once the owner has defaulted on their loan.
The Spring market is on it's way!! If you have been thinking about selling you home, now is the time. Buyers are active and looking for their new homes but the flood of new listings is yet to hit. Beat the rush and get the most attention for your property by listing your home as soon as possible. Interest rates have remained low and the banks continue to offer great deals with 5 year fixed mortgages as low as 2.99%!! With these great products being offered to buyers, they are wanting to find their new homes sooner rather than later. Also, if you are looking to sell your home to purchase a larger home, you too can take advantage of these great rates. Call today to discuss your options as the spring market begins to heat up!!
The Bank of Canada announced that they are going to be maintaining the overnight rate at it's current level. This is due to uncertainty in the world markets and the expectation that inflation rates will decline in the near future. So long as inflation stay low there shouldn't be a need for the lending rate to be increased any time soon. This is great news for those looking to buy a home as we are still seeing great rates being offered by lenders. While the variables rates are not as low as we have seen recently, the 5 year rates have remained quite low.
I am a Broker/Owner for Janzen-Tenk Realty Inc, Brokerage based in Springfield ON. I work predominately with residential real estate in the Tri-County areas of Elgin, Norfolk and Oxford and would love to help you find that property you have always wanted. If you would like to discuss the possibility of listing your home please 
