2022 property assessments are in: Are you rich beyond your wildest dreams yet?

Joel Olson • January 12, 2022

What will you do with all the equity?

Happy New Year! 


I'm just touching base on a big subject these days, and that is property assessments.


What's causing property assessments to be, in some cases, 30 and even 40% higher than the previous year?


We're seeing people come in with house values that were 725K in 2021, come up with like 1.1 million for 2022.


So what is your property assessment based on, and is that something we're even using?


It's worthy to know that, most of the time, we don't even look at property assessments when it comes to lending values.


In fact, there's maybe 5% of the time that it even has a factor on what we use for the value, so that's really important to know.


Your property assessment value is based on July of the previous year, site unseen.


So that means if they haven't been inside your house, haven't looked inside, it's based on the average values in the neighborhood.


So it means that, if you haven't sold your house for a long time, or you bought it 40 years ago, and you've updated it, it's not going to make a difference.


Also, if you have never updated it and maybe the house isn't as good a shape, your property assessment is affected by that as well.


So it means that, a lot of times, property assessments are either much higher than the true value or they're much lower.


We see a lot of people have varying degrees of how they feel about this, but that's how it is at the end of the day.


It's based on July of the previous year's average site unseen values based on the neighborhood.


Now, it's important to know, because a lot of people think busy markets are just stuff flying off the shelves, which is true.


There is lots of things that are selling very quickly, but it also means there's not a lot of inventory.


And so what happens is that you might get a situation where there was only a very few houses in your neighborhood that could have been sold.


And a house could be not very good comparable, but moving that value up.


But even though these might not be entirely accurate, it's worthy to know the property values are up.


There's no question about that.


A 30 or 40% increase on property values is meaningful across the province.


So if you want to know what way you can do the equity... is it time to sell, is it time to refinance to clean up some debt?


Is it time to do some renovations and expand it, put an addition on, add a suite, add a garage or anything like that?


Is it time to buy another property?


An interesting thing you'll see is that condo values actually have not soared that much.


And so if you're buying a rental condo, it'd be a great time to do so because they are still at a very, very affordable amount of money.


Is it time to buy a condo?


Is it time to look into investing in other places?


All those options, you can do with your equity.


With the rate still being at 1.25%, obviously your money could be used somewhere else in a more effective way.


So if you have questions, please reach out about your property assessment and ask how we can help you and what we can do to help you with your equity.


As always, please share this with your friends, subscribe, and leave a comment, if you can.


If you have any questions, we'd love to help you.


Have a great day!

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Joel Olson
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Your Guide to Successfully Navigating the Housing Market

By Joel Olson • May 26, 2026
Wondering If Now’s the Right Time to Buy a Home? Start With These Questions Instead. Whether you're looking to buy your first home, move into something bigger, downsize, or find that perfect place to retire, it’s normal to feel unsure—especially with all the noise in the news about the economy and the housing market. The truth is, even in the most stable times, predicting the “perfect” time to buy a home is incredibly hard. The market will always have its ups and downs, and the headlines will never give you the full story. So instead of trying to time the market, here’s a different approach: Focus on your personal readiness—because that’s what truly matters. Here are some key questions to reflect on that can help bring clarity: Would owning a home right now put me in a stronger financial position in the long run? Can I comfortably afford a mortgage while maintaining the lifestyle I want? Is my job or income stable enough to support a new home? Do I have enough saved for a down payment, closing costs, and a little buffer? How long do I plan to stay in the property? If I had to sell earlier than planned, would I be financially okay? Will buying a home now support my long-term goals? Am I ready because I want to buy, or because I feel pressure to act quickly? Am I hesitating because of market fears, or do I have legitimate concerns? These are personal questions, not market ones—and that’s the point. The economy might change tomorrow, but your answers today can guide you toward a decision that actually fits your life. Here’s How I Can Help Buying a home doesn’t have to be stressful when you have a plan and someone to guide you through it. If you want to explore your options, talk through your goals, or just get a better sense of what’s possible, I’m here to help. The best place to start? A mortgage pre-approval . It’s free, it doesn’t lock you into anything, and it gives you a clear picture of what you can afford—so you can move forward with confidence, whether that means buying now or waiting. You don’t have to figure this out alone. If you’re curious, let’s talk. Together, we can map out a homebuying plan that works for you.
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How to Raise Your Credit Score and Unlock Better Rates

By Joel Olson • May 12, 2026
Want a Better Credit Score? Here’s What Actually Works Your credit score plays a major role in your ability to qualify for a mortgage—and it directly affects the interest rates and products you’ll be offered. If your goal is to access the best mortgage options on the market, improving your credit is one of the smartest financial moves you can make. Here’s a breakdown of what truly matters—and what you can start doing today to build and maintain a strong credit profile. 1. Always Pay On Time Late payments are the fastest way to damage your credit score—and on-time payments are the most powerful way to boost it. When you borrow money, whether it’s a credit card, car loan, or mortgage, you agree to repay it on a schedule. If you stick to that agreement, lenders reward you with good credit. But if you fall behind, missed payments are reported to credit bureaus and your score takes a hit. A single missed payment over 30 days late can hurt your score. Missed payments beyond 120 days may go to collections—and collections stay on your report for up to six years . Quick tip: Lenders typically report missed payments only if they’re more than 30 days overdue. So if you miss a Friday payment and make it up on Monday, you're probably in the clear—but don't make it a habit. 2. Avoid Taking On Unnecessary Credit Once you have at least two active credit accounts (like a credit card and a car loan), it’s best to pause on applying for more—unless you truly need it. Every time a lender checks your credit, a “hard inquiry” appears on your report. Too many inquiries in a short time can bring your score down slightly. Better idea? If your current lender offers a credit limit increase , take it. Higher available credit (when used responsibly) actually improves your credit utilization ratio, which we’ll get into next. 3. Keep Credit Usage Low How much of your available credit you actually use—also known as credit utilization —is another major factor in your score. Here’s the sweet spot: Aim to use 15–25% of your limit if possible. Never exceed 60% , especially if you plan to apply for a mortgage soon. So, if your credit card limit is $5,000, try to keep your balance under $1,250—and pay it off in full each month. Maxing out your cards or carrying high balances (even if you make the minimum payment) can tank your score. 4. Monitor Your Credit Report About 1 in 5 credit reports contain errors. That’s not a small number—and even a minor mistake could cost you when it’s time to get approved for a mortgage. Check your report at least once a year (or sign up for a monitoring service). Look for: Incorrect balances Accounts you don’t recognize Missed payments you know were paid You can request reports directly from Equifax and TransUnion , Canada’s two national credit bureaus. If something looks off, dispute it right away. 5. Deal with Collections Fast If you spot an account in collections—don’t ignore it. Even small unpaid bills (a leftover phone bill, a missed utility payment) can drag down your score for years. Reach out to the creditor or collection agency and arrange payment as quickly as possible . Once settled, ask for written confirmation and ensure it’s updated on your credit report. 6. Use Your Credit—Don’t Just Hold It Credit cards won’t help your score if you’re not using them. Inactive cards may not report consistently to the credit bureaus—or worse, may be closed due to inactivity. Use your cards at least once every three months. Many people put routine expenses like groceries or gas on their cards and pay them off right away. It’s a simple way to show regular, responsible use. In Summary: Improving your credit score isn’t complicated, but it does take consistency: Pay everything on time Keep balances low Limit new credit applications Monitor your report and handle issues quickly Use your credit regularly Following these principles will steadily increase your creditworthiness—and bring you closer to qualifying for the best mortgage rates available. Ready to review your credit in more detail or start prepping for a mortgage? I’m here to help—reach out anytime!