Let me backtrack: When Clint and I bought our prime little gem of Calgary Real Estate in Auburn Bay, (That's fancy-talk for a classic three, sale house on a reduced-for- quick-sale-lot) Calgary interest rates were around six percent. I remember my dad (a one-time Calgary Real Estate Agent) saying to us, "These rates are unheard of! Lock it! Lock it!" Of course I have a little bit of tiger blood and Adonis DNA in me, (sorry was that too Charlie Sheen?) so I was willing to take the risk of waiting to see where the rates would go. So we floated, and down those rates went.
Every month when I would talk to my dad about the possibility of locking in the rates, he would say to me, "You're nuts if you don't lock in now! In my day a great rate was 12%, and you better believe I was around when they went to 19%!" He almost had me scared silly, but I held out. Finally, about a year later, I chickened out and locked at 3.89%. My brother-in-law, who is equally as obsessive about interest rates, beat me by a fraction of a point. To this day I still begrudge him his partial-point victory. Totally kidding here.
The fact of the matter is this: people! You can get a mortgage locked in over 5 for less than 4%. Hold on, let me say this one more time: LESS THAN FOUR PER CENT!!! Why in world would you NOT buy a house! Maybe those people that took this survey and have decided to sit on the sidelines need to have a little sit-down with Mr. Neil Baisi. (My Dad). So he can talk your ear off about the good old days when interest rates were 12%, calculators were just being made, and how the trip to school was up hill both ways.
If you're wondering if it's the right time to sink your teeth into a piece of Calgary Real Estate, let me repeat: interest rates are as low as four per cent, locked over five! Have a little browse of Calgary MLS.ca, if you wish. The time is now. It's time to WIN! (Charlie Sheen again. I just can't get enough of this guy).
Until Next Time
The Vanderveen Team
Maxwell South Star Realty
Phone: 403.253.5678 Fax: 403.592.6736