Transcription:

  • Brendan Hewitt:                 What's on everyone's mind? Mortgage changes.
  • Craig Bentley:                       Mortgage changes, what do I need to know?
  • Taylor Hack:                           What do you have in mind for Alberta's economy, was it mortgage changes?
  • Christian Baile:                    Mortgages changes, again?
  • Taylor Hack:                           So here's the question, how are these new mortgage rules going to affect the market here?
  • Brendan Hewitt:                 Well that really depends, are you a buyer-
  • Christian Baile:                    Or is it something that you're selling?
  • Brendan Hewitt:                 Or are you an investor who's buying or selling?
  • Craig Bentley:                       So regardless if you're buying or selling-
  • Taylor Hack:                           Really what this is gonna affect most, is buyers buying power and that will affect their relationship to sellers.
  • Brendan Hewitt:                 So these new mortgage changes that are coming into effect, aren't going to effect all buyers, just the buyers with 20% down or more.
  • Christian Baile:                    So if you're a seller and your target market is investors, you may see less buyers.
  • Taylor Hack:                           Restrictions on buyer's means less buyers in the marketplace for specific properties.
  • Craig Bentley:                       So first time home buyers, since the majority of you won't be putting 20% down chances are, you won't be affected by these rules, you're off the hook.
  • Taylor Hack:                           Mortgage rules that affect buyers, also affect the properties they would buy. So think as a seller, is your property targeted to those people putting more than 20%? I'm talking to you, investment properties. I'm talking to you, properties over a million dollars. I'm also talking to you, properties that are going to be sold to more established people with higher down payments.
  • Craig Bentley:                       So for you families looking to upgrade and buy a more expensive property, classify yourself as a buyer and this is a buyers market.
  • Christian Baile:                    So these new mortgage rules are gonna affect the higher price homes. So if you're upgrading to a larger home, you're gonna have an advantage in this market.
  • Taylor Hack:                           The other winner in our current marketplace, nationwide buyers. Markets like Vancouver and Toronto, are starting to cool, and under the new rules, it could mean that your blueprint changes. Where you could qualify before in Vancouver and Toronto, could make you now, the perfect fit to buy your next investment property in Alberta.
  • Brendan Hewitt:                 So for you buyers out there with 20% down payment or more, these mortgage changes are ultimately going to affect you.
  • Craig Bentley:                       Anybody not affected by these rules, look forward to a good 2018, it's gonna be awesome. If you're a buyer and you're gonna be affected by these rules, you may want to seek advice from your mortgage professionals because there's still time to beat these changes.
  • Christian Baile:                    If you're selling and you want to understand how these changes may affect you, then let us know and we'll find the best strategy to make you win.
  • Taylor Hack:                           Sellers going in to the 2018 market, once these mortgage changes have taken effect, well, it looks like there's gonna be more sellers than buyers. But, we're not worried about it, that's been the theme song of the greater Edmonton market since 2015. If you want to know how to compete, if you want to know how to win, that's what we're here for.
  • Brendan Hewitt:                 This is Brendan Hewitt.
  • Christian Baile:                    I'm Christian Bailey.
  • Craig Bentley:                       This is Craig Bentley.
  • Taylor Hack:                           This is Taylor Hack, from Hack and Company RE/MAX, River City, have an awesome day.
  • Brendan Hewitt:                 This is-
  • Taylor Hack:                           So who are these mortgage changes going to affect?
  • Craig Bentley:                       My grandma who lives down the street.
  • Taylor Hack:                           The Weatherman, Josh Classen, only him.
  • Craig Bentley:                       My neighbor, Russell.
  • Taylor Hack:                           Mayor Don Iveson.
  • Christian Baile:                    Pineapples.