Wednesday, August 17, 2016

GET READY.... ON YOUR MARK.... GO (Latest Market Update)

Well here we are, .. last few weeks of August and I am sure you are seeing articles about market is slowing down, CREA (Canadian Real Estate Association) announcing less sales in July, blah blah blah.... Well if there is one thing I know for sure ... it is this !   The real estate market will NOT slow down in September and October... they are essentially our second busiest time of the year.  July and August are ALWAYS quieter months... Families take a break from looking because kids out of school, cottages to go to, summer holidays planned, not to mention many Agents have made a huge chunk of their income in Spring market and don't work as hard in July and August and spend time with their family.

So the after September long weekend... get ready for a multitude of listings... and the buyers will be back !   Anyone thinking of listing their home right now, would be crazy not to wait until after the long weekend in September.  Every year, after the kids go back to school in September, the agents are buzzing around the office, on the internet and making their calls. It is basically get back to work before the snow flies... and they HUSTLE.

So if you have been waiting for that Dream Home to hit the market and haven't seen it yet, don't be discouraged... it is coming !   If you are contemplating listing your home, remember that the last two weeks in August are usually slow and your best bet is to wait until after the Labour Day Weekend !

As for prices.... I get asked this all the time... what do I think will happen?  I wish I

knew... but for now, the prices are not coming down.  Everything is selling at record high pricing and until the supply meets the demand or the Bank of Canada increases interest rates, I don't see any change... unless the Government steps in like they did in Vancouver to try and slow down the foreign investing... but from what I see ... in the trenches, especially in Durham Region, there hasn't been a lot of foreign investing.  York Region, yes a little.... Toronto, yes a little more... but nothing like what Vancouver has seen.  Will they come to Ontario and do the same here seeing as we don't have the added tax?   Maybe !   All the more reason if you are thinking of buying or selling a home, the next quarter would be a great time to capture this crazy market....

I have had people ask me, should I sell and rent and take advantage of these high prices?   My answer would be a plain and simple NO.... no one knows what the future holds... What if you sell and rent and next year these prices continue?  Could that risky move price you right out of the market?  Quite possibly.  If you are going to sell and want to maximize your profits, I would recommend buying something else... even a property further away, or for less money and pocket some if you need it, but don't take yourself out of the market... this is just my personal opinion of course.

I post articles on my Google Page every day about the market and also on Twitter... mostly real estate related... and they feed on to some of my websites..  but at the end of the day, I see September and October being stellar months in real estate, so brace yourselves and enjoy the ride !   If you are thinking of selling or buying, please feel free to reach out and I would be happy to meet with you and discuss the next steps and how I can help you.

Last year I thought, it can't continue and it has... and I could kick myself for not buying a few investment properties back then but live and learn.   Prices have more than doubled in 10 years... you will never go wrong in real estate... even if there is slowdown, you ride it out and wait for the next wave... it will come !  It always does !   Don't keep waiting if you are thinking of buying, every month you wait, the prices are going higher and higher... if you are serious, get your pre-approval for your mortgage done and if you don't have a Mortgage Broker, I can assist you with a Mobile Mortgage Broker who will come to you, give you the best rates and take of you... once that is done, find a Realtor you can trust and work with (like myself !) and let's get the process started... 

On that note, if you aren't on my free StreetMatch set up, you should be.  It is easy and will notify you when a home in the vicinity of your house goes for sale... it is good to stay on top of the prices.  Also, if you ever want to know what it SOLD for, simply text, email or call me and I will send you the SOLD price... which usually is higher than the LIST price... the link to do this if you haven't already is http://www.househunting-durham.com/images/landing/streetmatch/index.asp


All the listings on my website are removed once SOLD.  If you favourite one and don't 

see it anymore, chances are it is sold.  If you  want to know what it sold for, just let me know.  I am always here.  If you need real estate advice, have questions or just are curious as to what to do... real estate is my passion and it isn't necessarily about selling you a home, it is about building relationships and trust so that when that time comes, you have someone you are comfortable with ... then we make the MAGIC happen !

Cheers to that my house hunting Friends... Stay safe and Enjoy the rest of the Summer.

Post a Comment