Real Estate Now Part 2

The results of the survey are in.  Last week I asked the question should you buy now.  The consensus was that now was a good time to buy, and if you could you would.  Here is the break Down:

1)  Which best describes your real estate outlook?

I bought recently, no plans to move 22.2%
I would buy if I knew this was the bottom 33.3%
I would buy if I could sell my home 33.3%

I am actively looking 0.0%
I think these are the best condition to buy real estate in years. 11.1%

2)  2. If you were buying your first home, is now the time to buy?
Yes 77.8%
No 22.2%

3)  Interest rates in Canada are presently at 40 year lows (prime 3%). Are interest rates going down more are will they go up?
I think they will go down further 0.0%
Short term maybe down 22.2%
Long term they will be going up 55.6%
It's not over yet, wait for the bottom 22.2%

4. Which best describes your real estate outlook?
I bought recently, no plans to move 22.2%
I would buy if I knew this was the bottom 33.3%
I would buy if I could sell my home 33.3%
I am actively looking 0.0%
I think these are the best condition to buy real estate in years. 11.1%

Thank You for all your input on this question.The original post is here.

Your Friend In Real Estate,

Patrick Galesloot

 

 

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