State of the market

As I drove around Estevan yesterday, and reflected on what Estevan looked like when I moved here nearly 30 years ago, I couldn't help but notice the very substantial growth that has occured and continues to occur in our community.  When I'm asked, during this transitional real estate market, if I think we're going to be OK, my answer is an emphatic YES!.  Take a drive - not only is residential building activity going strong - commercial activity is thriving.  The Suburban Hotel has nearly completed an addition, another sizable hotel is under construction one block south, and in between, TS & M is building what can only be described as the largest industrial/commercial building we've seen constructed in a very long time.  Another strip mall is being constructed on King Street across from the Shopper's Mall.  The aforementioned companies take a long view when making a decision to invest substantially in our community.  They aren't buiding for this year or next; they are building for the future.

Yes, the price of housing has fallen and levelled off to pre-2012 prices.  Yes, we have more inventory than we've seen in 4 or 5 years - perhaps ever.  What I see is OPPORTUNITY!  With record low interest rates remaining record low, it is the opportune time to buy into the market and hold for the long term.  Estevan has always been cyclical.  That's the nature of the business environment we are in.  But Estevan has always been a solid place to invest and buy property.  I have every reason, based on what I see happening in our community, to believe that 2015 will be a great year for Estevan.



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