VIRES 011: Adam Hawryluk interview on three reasons why Buyers aren't getting financing

On The Rise with Braden Wheatcroft

Have you noticed that it’s more difficult right now for buyers to obtain financing for their purchase? Many agents on Vancouver Island certainly have. An informal poll I took on Facebook recently revealed that 80% of collapsing sales right is due to challenges in obtaining financing.

So far 2018 has been a year filled with changes in British Columbia. Our government has proposed policies to cool the market reduce home values in the province. The Superintendent of Real Estate and Real Estate Council continue to press on with changes to the way REALTORS can conduct their business. With all this, it would be easy to look past the changes that have recently happened at the Federal level when it comes to lending policies that are having a genuine impact on real estate agents and clients they serve. That’s where we pick up the conversation with Adam Hawryluk, a mortgage broker with DLC Canadian Mortgage Experts in Nanaimo.

Adam will give us an update on those policy changes, how they have affected the Vancouver Island real estate market so far, where buyers are getting tripped up with their financing and what you can do to serve them better! He may even share his thoughts on where the market is going for the rest of the year.

About Adam:

Recognized by CMP Magazine in their Young Guns 2017 issue, as Past-President of the Young Professionals of Nanaimo, and a long-time member of the Board of Directors for Community Futures Central Island, Adam Hawryluk is a platinum producing mortgage broker and leader in both his community and industry. Adam and his wife and business partner Michelle have been active investors in the local residential and commercial real estate markets, but their crown jewel is the new addition of their new baby girl, Frances Hawryluk born Valentine’s day 2018.