Tag Archive for: Vancouver Mortgage Broker

Greedy & Fearful

I love that Warren Buffett quote “Be fearful when others are greedy, and greedy when others are fearful”. While he was mainly talking about the ups and downs of the stock market it could also apply to the housing market as well. The past few years have been a boom for people selling real estate as almost every sale went for well above the asking price.

However things may be about to change. Interest rates have climbed dramatically in the past 3 months, with the variable up by 75 basis points and the fixed up over 130 basis points over the same time period. As a result the market in Toronto has cooled by 27% vs the same time last year. While I don’t think that this will shift to a buyers market it may end up levelling the playing field until the inflationary pressures level off.

All markets go in cycles, as long as we realize this we will make out just fine. The recent steady rise of real estate prices will not last forever, nor will the current down turn of the stock market. If we take Warren Buffett’s attitude and advice to heart and see what’s going on around us and just plan accordingly, then we will insure a prosperous future. Sell when those around us are being greedy and buy when everyone else is selling.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Wild Child

Families with more than one child often have one that causes them more work and anxiety than the others. When I was growing up this was my younger brother. Who broke both ankles jumping off a high wall when we were kids. Then got stuck in the tree with his cast on shortly thereafter. Was always the first one to jump and ask questions later. And now always has a story to tell.

In our family this honour would now fall to our middle child. Fiercely independent from the day that she arrived. Would never accept a punishment and always wanted to get her voice heard, irregardless of whether she was right or wrong.

It’s best to let the wild children get their energies out as both of these examples are widely successful. My younger brother is now a successful business man, now running the business my parents ran when we were kids. My fierce and independent daughter has been accepted to 5 universities for school next fall and has near perfect grades.

Strict rules are needed for some and guidelines are best for others. With love and support we will each find our own way. These same rules apply when looking for a mortgage. We have lenders with strict guidelines who will give you the best rates and terms and others who are more flexible that will cost a little bit more. Not everyone can be cookie cut into the same mold so it’s best to have options for everyone.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

For all the Mom’s

Happy Mother’s day to all the Mom’s out there. There is no job more challenging than being a mother. As a father I know this to be true as I know the sacrifices that my wife makes for our family. The other 364 days a years you are run off your feet, my sincere wish is that all the Mom’s today know how much they are loved and appreciated.

To my Mom in heaven, I am what I am because of the love that you gave me.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

What you want

People want what they want, but more times than not it may not be entirely what they need. I was reminded of this fact while on a call with a commercial client recently. While they were very clear on what they wanted, if delivered exactly as requested it would not give them what they needed. This is where educating clients about future outcomes is paramount.

As a huge Apple geek, I have always been an admirer of Steve Jobs. I love his approach to wants and needs, taken from Walter Isaacson book on him.

“Some people say, “Give the customers what they want.” But that’s not my approach. Our job is to figure out what they’re going to want before they do. I think Henry Ford once said, “If I’d asked customers what they wanted, they would have told me, ‘A faster horse!'” People don’t know what they want until you show it to them. That’s why I never rely on market research. Our task is to read things that are not yet on the page.”

So with this same approach, proper long term planning around structuring commercial transactions will give clients what they want over the long term while also addressing their short term needs.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Back tracked

A month ago when Nova Scotia announced the 2022 budget there was in it a proposal to increase the property taxes for non resident owners from outside of the province. It appears that this change did not sit well with people who own cottages here but don’t live in NS. It went against our overwhelming welcoming attitude that we have towards people.

While we are still in the midst of a housing crisis, that proposal did nothing to fix the problem and it’s nice to see that they have back tracked this unpopular proposal. The province needs to do more to work with municipalities to fast track approval’s so project can get approved and completed faster. That is what would help ease some of the backlog on housing.

While I never voted for him or his government, it is the mark of a good leader to see the error of your ways and then reverse course when needed. You can plan and do analysis till the cows come home but if you don’t talk with the people who will be effected then that is just a waste of time. If we all work together we can move forward with ideas and plans that may work to help solve our current housing problems.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

The Long Game

In today’s hedonistic society, we want the solutions to all our problems now. We want the nip or tuck to make us appear skinny. The magic pill to make us smarter or the lottery win to make us rich.

However these are seldom if any the real solutions to these problems. The quick fix rarely fixes the problem over the long term. It’s just a tease for those unwilling to put in the work to achieve the results that they are looking for in the first place.

Look at some of the top names in Sports, Tiger Woods, Lebron James or our own Sidney Crosby. They all have tremendous work ethic. They play the long game to achieve their objectives. The quick fix is a scam to con you out of your money. Put in the time, do the reps and read the books and you will get there. Probably not overnight but by putting in the work you will continually make progress towards your goals.

See clearly where you want to go and plan your steps accordingly. Nothing worth achieving comes easy, it requires blood, sweat, tears and work on our parts to make it happen. Stop looking for that fast pass to the front of the line, it’s what you learn along the way that will insure your transformation sticks.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Geek Out

Geeks everywhere can celebrate Star Wars Day today, as May the 4th is unofficially known. Although I am more of a Star Trek fan, it’s still nice to be able to geek out from time to time. Gone are the days when being a geek was frowned upon, probably mostly thanks for successful geeks like Bill Gates and Elon Musk.

Now most days I get to geek out at mortgage numbers. I love it when I can find opportunities to help clients save money on their refinances. I helped a client this week save over 3K a month by paying off high interest debt and giving them one lower payment. It’s also exciting to help first time buyers close on their first place like I did with clients last week.

I geek out by celebrating all the small victories irrespective of what they are. Let me know how I can help you overcome your mortgage challenges and may the forth be with you.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Keeping up with the Joneses

All too often people spend money with the intent of one upping or just keeping up with the Joneses. Just because your neighbour got a fancy new car does not mean that you need to trade yours in and buy a new one. Yours may only be a few years old, still in good condition and with a loan still attached to it.

We don’t always need the latest and greatest smartphone, car or flat screen tv. Just because the economists are saying that we could use some more economic activity, they were not taking to you directly. Your life is not going to drastically improve by trying to keep up with the neighbours or buying some shiny new thing. You may feel good for a brief period of time but it won’t last.

Years later you will not even remember the feeling you got from buying that new fancy gadget. You will however remember times spent with family and friends. So focus on accumulating memories with loved ones instead of stuff. Nobody every wished on their deathbed that they bought more stuff.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Easy come easy go

It’s true that we appreciate the least the talents, possessions or relationships that come to us the easiest. The internet is littered with stories of those who have squandered their gifts. From professional athletes and lotto winner quickly going bankrupt to second generation business owners quickly failing in business and charismatic & attractive people failing at relationship after relationship.

More often than not it takes a setback or a defeat to truly wake up. The heart attack before finely taking control of your life and getting back into shape, a nasty break up or hitting rockbottom financially. However don’t wait till that day comes before deciding to truly take control of your life. It should not take a life or death moment to knock some sense into you.

Learn to appreciate everything that life has given you before it’s too late and it’s all taken away. The past few years have been a blessing for those who have opted for a variable rate mortgage. Life was easy and payments were low. Now with interest rates increasing people are starting to worry and some even are freeking out. Nothing lasts forever, even low interest rates. So what I have always told my clients is to fix your payment much higher than the actual interest rate that way when it does move it will not effect you as much as you were used to paying the higher amount.

Remember that the only thing constant in life is change. It’s how we adapt to it that determines who we become.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Crisis to Opportunity

I have always loved this Napoleon Hill quote ” In every adversity, every failure, and every heartache carries with it the seed of an equivalent or greater benefit. So if you’re going through a lot right now, and it probably really sucks but try if you can to find out what if anything you can learn from it that could help you become better in the future.

I met a young charismatic guy about 15 years ago. He was great with people but was going through a tough breakup at the time and was struggling personally, professionally and financially. It seemed that what ever he did turned into a dead end and nothing was working out for him. I’ve read that he was recently awarded for being the best in his field in all of Canada and now makes more in a year than most people make in a lifetime.

So these stories are not limited to heartfelt Disney movies. Everyday people are overcoming their personal or professional crisis’s to achieve overwhelming successes. All you have to do is believe that’s it is possible and to never give up until you get there.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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