Well that was short! Anything can happen in the Real Estate Industry. Working and studying this market for the past 25 years, and then some ( coming from a family of avid investors ) I have seen it all.
There is one question? Has the Real Estate Industry bottomed out? Well, the media is still sharing news that this nonsense will continue. However, that being said, it looks like we will anticipate some changes this Fall.
In the past two weeks we have seen an abundance of listings that were once sitting around, finally selling. These are listings that perhaps started at price points reflective of the 2017 Real Estate Market. Many of them taking 1, 2 sometimes 3 reductions in price in the past 6 months, selling for good dollars and still over the $1,000,000 mark. This has been fantastic for buyers who have been sitting around waiting. They have benefited from playing the waiting game and have capitalized on their investment. With a few more months left in doing this, buyers need to get into the market now! Prices and inventory coupled with still supreme interest rates from banks are just that good! Why wait?
The great news for sellers is, we have also begun to see new listings, sell for list price, over list price, with few in multiple offers once again. Many selling far more quickly than in the past 6 months, some even within days. Price points seem to be more reflective of 2016’s prices, with many homes in key areas that are still selling for top dollar due to criteria as schools, access to major highways and transportation routes and lifestyle neighbourhoods.
So the question is, are you going to wait and invest in your dream of home ownership now? With low interest rates & great market value price points, the time IS now. Waiting until the Fall Market may only anticipate value increases as we now begin to see the next phase of real estate change creep up on us once again.
Wanna chat real estate and get the scoop, call us today. We will be truthful.
Wayne and Virginia Munden
905 334 1660 Virginia
905 399 5910 Wayne