The housing bubble simply means that there’s an increase in demand but a decrease in supply. In this case, fewer houses are available compared to the number of people looking to buy.

What happens during a housing bubble?  

House prices increase significantly when a housing bubble occurs. The home that you thought was reasonably priced is now priced noticeably higher.

Why does a housing bubble happen?

There are a few things that tend to ignite a housing bubble. Though, all aspects will play a role in making the housing bubble happen. 

  •        Increase in economic activity.
  •        Population increases significantly.
  •        Low interest rates to make homes buying attractive to home buyers.
  •        Higher risk taking as a borrower.
    • …

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Congratulations to our buyer and seller on this great little property! Many memories for our seller on this one as he grew up in this charming home.

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Is there an area you'd love to get into that's "hot"? In other words, an area where, as soon as a new home comes up for sale, buyers are clamouring to see it? It can be intimidating to try to buy into a neighbourhood like that. On one hand, it's the type of area you'd love to call home. After all, there are good reasons why it's so popular! On the other hand, you might be discouraged by the competitiveness and prices. If you want to live in that neighbourhood, there are a couple of things you can do that will increase your chances of success. The first is to create a strategy. Most buyers rush to see a listing in a desirable area only when it shows up on MLS — or sometimes only when it's advertised. You'll have a better chance of getting into the…

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Wouldn't it be nice if you had all the time in the world to find your next dream home? You could leisurely browse the current listings, select homes you'd like to see, schedule visits on dates that are most convenient for you, and make an offer on a property only after you've had plenty of time to consider all the alternatives. Sure, that sometimes happens, but it's not typical. Often, people shopping for a home are on a timeline. Sometimes a very tight timeline. So how do you find your next dream home when you don't have all the time in the world? First, you need to develop a clear picture of the home you're looking to buy. How many bedrooms? What size of property? What type of structure (two story, back split, etc.)? Then, you need to list your…

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Congratulations to our sellers on this one! Perfect timing just before Christmas. We are thrilled for you both!

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