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SELLING YOUR HOME IN CURRENT MARKET


Selling your home in a low inventory market can give you a major competitive advantage. If your property is listed amongst fewer options its naturally going to create more interest.

In this current environment where home inventory is low, can be extremely beneficial for sellers. In most cases it will lead to a faster sale, a higher selling price and more favourable terms.

We spare no expense in marketing your property and driving the traffic to give you as many options as possible.

Interested in the value of the current value of your property?
Not clear if your finances allow you to move to the next step?

Our 20 years in finance and real estate can help you make sense of this.

Call us today for a free market value of your property and a snapshot of the current market stats.



Sunny Sharma Real Estate

604-621-6444

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Bank of Canada Rate hikes, your variable rate mortgage and the triggering interest rate.
We have had a lot of questions on how it affects your variable-rate mortgage.

It is important to remember that with most institutions the payment amount does not change with each interest hike, but the breakdown in the amount of the payment that goes to principle and interest will change. That is, until you reach the breakeven rate or triggering interest rate.

So, what is a trigger rate❓
The trigger rate is the rate at which the regular mortgage payments no longer covers the accrued interest. Interest rates for the variable rate has increased so much that the entire payment is dedicated towards the interest and nothing towards the principal. If rates continue to increase anymore, the payments no longer cover the interest With two more hikes coming for this year, October 26th and December 7th its important to prepare now as this breakeven/trigger rate will become a reality for a lot of mortgage holders

These three options are
1. Adjust your payment - Increase the amount of the principal and interest payment to an amount that is enough to pay off the outstanding principal balance within the remaining original amortization period.

2. Make a prepayment - The trigger is dependent on the remaining balance of your mortgage. If you make a lump sum payment, that would push your trigger rate higher. Alternatively, you could increase your monthly payments, so more money is going toward your principal.

3. Switch to a fixed-rate mortgage - Your lender may suggest that you switch to a fixed-rate mortgage. By doing this, you'll lock in at current rates. While this strategy may give you peace of mind, it could cost you more in the long run. Plus, your monthly payments would increase by more than if you were to adjust your payments on your own (reach out to me before doing this).

The ''letter in the mail'' will be coming for alot of us.
Be prepared and proactive, budget accordingly.
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Posted in Sullivan Station, Surrey Real Estate
New property listed in Sullivan Station, Surrey

I have listed a new property at 43 6383 140 ST in Surrey. See details here

Welcome to your new home at Panorama West Village. This four 4 bedroom, 4 bathroom townhome is a must see. This beautiful townhome boasts a spacious living and dining area, open kitchen with stainless steel appliances, granite kitchen and bath counter-tops, large kitchen island and laminate flooring in the main living area. BONUS flex room downstairs with separate entry that could be rented out for 800 or perfect for a home based office/business. Some of the Amenities includes In Suite Laundry, Clubhouse and Playground area for kids. Close to Elementary and Secondary Schools, Parks, Shopping Centre. Very Easy access to All Major Routes. Book your private showing before its too late.

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Posted in Sullivan Station, Surrey Real Estate
Open House. Open House on Saturday, February 25, 2023 1:00PM - 4:00PM

Please visit our Open House at 43 6383 140 ST in Surrey. See details here

Open House on Saturday, February 25, 2023 1:00PM - 4:00PM

Welcome to your new home at Panorama West Village. This four 4 bedroom, 4 bathroom townhome is a must see. This beautiful townhome boasts a spacious living and dining area, open kitchen with stainless steel appliances, granite kitchen and bath counter-tops, large kitchen island and laminate flooring in the main living area. BONUS flex room downstairs with separate entry that could be rented out for 800 or perfect for a home based office/business. Some of the Amenities includes In Suite Laundry, Clubhouse and Playground area for kids. Close to Elementary and Secondary Schools, Parks, Shopping Centre. Very Easy access to All Major Routes. Book your private showing before its too late.

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