Found 6 blog entries tagged as Buying.

Aspiring home buyers waiting for another rate cut from the Bank of Canada will need to hold their breath a little longer. With the next announcement scheduled for July 30, 2025, all signs point to the central bank holding its policy rate at 2.75%. But while the national picture is one of cautious waiting, the Newfoundland and Labrador real estate market is telling a very different story.

In this article:

  • Bank of Canada Interest Rate: July 2025 Update
  • Newfoundland Housing Market: Prices & Trends
  • Is Now a Good Time to Buy a House in NL?
  • 3 Key Strategies for Buying in a Seller's Market
  • Why You Need a REALTOR® in Today's Market

Bank of Canada Interest Rate: July 2025 Update

After a series of rate cuts that brought…

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What is Mortgage Pre-Approval?

Imagine walking into an open house with a golden ticket—a document that tells sellers and real estate agents you're a serious, qualified buyer. That's essentially what a mortgage pre-approval is. It's a conditional commitment from a lender for a specific loan amount, based on a real assessment of your finances.

This isn't just a casual estimate. It's a thorough financial check-up where a lender verifies your income, assets, debt, and credit history. The result? A clear understanding of your borrowing power, which transforms you from a window shopper into a confident contender in the housing market.

Why It's Your Most Important First Step

Shop with Confidence

You'll know exactly how much…

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Larry Hann, Realtor

“I know how challenging and overwhelming today's real estate market can feel. Intense competition, rising prices... it's easy to feel lost. That's exactly why I created this guide—to give you a clear action plan and the confidence you need at every step. Let's navigate this journey together.

— Larry Hann, Realtor®

The 7 Essential Steps to Your New Home

1: Secure Your Financing First

This is non-negotiable. Before you even look at a single house, have a full mortgage pre-approval letter from a reputable lender in your hands. This defines your budget and proves to sellers that you are a serious buyer.

2: Find Your Local Expert Agent

In a market where homes sell in days, you need a fast, experienced…

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Let's say you're in the market for a new home in, or around St. John's. You spend every night desperately scanning the internet for your dream home. Finally, you come across a property that is, "just what you're looking for".

If you have a Buyer's Agent, call them. If your Agent is unavailable, check to see if they have another agent tasked to look after their clients (most will). Many people assume that if they see a desirable home they should call the Agent on the listing sign. This is an all too common mistake. When you call the Listing Agent, you are actually calling the Agent who represents the vendor first. That Agent may try and represent both the vendor and your purchase of the home. A practice known in Newfoundland as a double ending. While…

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