realtor nc

The Fed Just Jammed Another Wrench Into the Housing Market

01/05/202321/04/2025dansa

On the precipice of the hotly anticipated spring housing market, the US Federal Reserve just dealt homebuyers another crushing blow.

Jerome Powell, chair of the Federal Reserve, told Congress on Tuesday that more aggressive interest rates might be needed to cool inflation. And while mortgage interest rates are separate from the Fed’s short-term rates, they often follow the same trajectory. Those higher rates have hit homebuyers where it hurts: their budgets.

In response to Powell’s comments, mortgage rates hit 7.03% for 30-year fixed-rate loans on Tuesday afternoon, according to Mortgage News Daily. Those higher rates are in part responsible for today’s buyers paying more than 50% a month in their mortgage payments than they would have a year ago.*

“That’s a boomer for buyers who had their hopes raised that rates would be falling,” says Realtor.com® Chief Economist Danielle Hale. “It’s going to be a more challenging spring than some people were expecting.”

Less than two months ago, there was speculation that rates would fall below 6%. Buyers had returned to the market, and bidding wars had heated up again. But the higher rates could threaten the rebound.

“It will continue to be a damper on how much

Why some Canadians are buying houses without the help of a Realtor

30/03/2023dansa

David McDonald says buying his first home in the latter half of 2021 was stressful — though maybe not for the usual reasons.

Even though he was working with a Realtor he trusted, he didn’t like that he couldn’t speak directly to the people selling their homes around North Bay, Ont., or that he’d repeatedly lost to other house-hunters in blind bids.

That’s partly why, when a friend forwarded a private listing in the area, he and his girlfriend jumped at the chance to see it.

“Being able to meet someone, look at the house and make an offer and have a handshake agreement right off the bat … that was, like, so much more of a transparent, clear process that I definitely found pleasing,” said McDonald, 38.

He closed the deal without his Realtor, which McDonald estimates saved both sides roughly $15,000 in commissions.

And while that might be reason enough for some to entertain the idea, industry insiders warn that going without a Realtor comes with risks.

A man sitting on a rocking chair looks and smiles at the camera. — David McDonald of North Bay, Ont., bought a house privately with his girlfriend in 2022. He estimates it saved both sides roughly $15,000 in commissions. (Submitted by David McDonald)

“It was

Real Estate Losses Against Ordinary Income

02/02/2023dansa

The best way to use real estate depreciation is against ordinary income. These are the two ways to do it.

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Investing in real estate can be a risky, time-consuming, illiquid investment. However, one of the best parts of being an investor in equity real estate (at least outside of a retirement account or a REIT structure) is that you can depreciate the buildings on the property. Under current law, bonus depreciation can be over 60% of your investment in the first year. It’s pretty awesome to invest $100,000 and get a $60,000 deduction on your taxes that same year.

Unfortunately, there is a general tax doctrine that prevents many investors from actually being able to use that deduction. It turns out that you can only use passive losses to

Tri-Cities realtors help raise nearly $20K for housing charities

17/01/2023dansa

Local agents also brought in almost $20,000 for housing-related charities, surpassing the financial fundraising bar for 2022.

Realtors across the Tri-Cities have eclipsed another big number in its annual campaign to clothe those in need over the winter seasons.

The Real Estate Board of Greater Vancouver (REBGV) and its member agencies have now donated winter clothing to more than 480,000 people in the last 28 years through its annual Realtors Care Blanket Drive.

For 2022, the week-long November event brought in enough supplies to help more than 27,300 residents in the region, primarily women and children fleeing abusive situations.

The Tri-City Transitions Society (200-2540 Shaughnessy St.) was one of the recipients thanks to 16 local realtor offices in Coquitlam, Port Coquitlam and Port Moody.

Metro Vancouver residents also opened up their wallets to donate nearly $20,000 for the cause — said to be the “largest and longest running” winter clothing drive in all of BC — surpassing the campaign’s initial fundraising goal of $15,000.

The money is earmarked for local housing-related non-profit organizations, said REBGV spokesperson Daniel John.

“Our partner charities were in dire need of blankets and warm clothing this year,” he said in a release. The initiative took