Fixer Upper

In more normal real estate markets, people would look at several homes and then buy the one that was perfect for them. Show up on the day after it closed with all their suff and carry on with their lives. In today’s real estate market with next to no inventory, people are bidding on the first property they find with the hopes that their offer will be excepted.

This is also resulting in getting homes that are less than perfect for them. Kitchens from the the 1970’s, wall to wall shag carpet and general funky design themes. However these home are still selling for top dollar and most if not all cases well over the list price. In addition to these issues people are also wining the bid on homes with some serious issues that in almost any market would cause people to walk away.

Instead of walking away they are closing on these properties. This means that the day after close what ends up happening is a huge dumpster shows up in the driveway so the new owners can gut the property so they can make it perfect for them. Also well, septic and other structural issues are being added on to the purchase price as purchase plus improvements. Cause if you let the house go, it could take you months to find another one. So they just fix what needs to be fixed and carry on with life.

Today I am thankful for my lenders who have such incredible products that allow my clients to purchase and fix their new homes, past clients with new projects and the first snowflakes of the year.

“If you can’t find happiness in the ugliness, you’re not going to find it in the beauty either.” Joanna Gaines

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here