Hey Brad, How's the market?

Funny, this is the most asked question a Realtor gets or at least it's the most asked question that I get.  I ususally respond with "that depends, are you looking to buy, sell, invest or rent?"
 
I wanted to share with you some dialogue that I had with a client regarding how the market is now compared with March 2010 and what did I forecast for the next spring market? 
 
  • You asked about the market, believe it or not, the market has cooled.  When we first spoke (March 2010), the market was the hottest that any Realtor had ever seen, so this was bound to happen.  3 factors are to blame for the cooling or slow down in the market: HST, higher interest rates and a very hot summer.  
  1. HST has scarred a lot of potential buyers, basically because they are uninformed of how it works.  We as Realtors have had to work very hard to explain the implication of the HST. 
  2. Higher Interest Rates - this was bound to happen as when we first met, they were at an all time low.  Rates are still good and we have also had to explain this to potential buyers.
  3. Hot Summer - this is a legitimate reason.  Real Estate normally shows a drop in the summer months as families are busy with summer vacations.  This summer has dropped off from the record numbers of the 2009 summer, but is certainly in line with previous summers of 2007 and 2008.
  • As far as forecasting what the 2011 spring market will bring, I really wish I had that crystal ball.  Overall, the Oakville area has been steady for man years.  Speaking with other Brokers and Realtors in the area, we don't anticipate drastic gains in asking price, but it should remain stable. 
_________________________________________________________

If you have any Real Estate questions:

Please contact me @


Brad Stevenett

Sales Representative
905.845.9180 - Office

905.407.7381 - Direct

Email:         brad.stevenett@century21.ca
Website:    www.bradstevenett.com

Facebook:  http://www.facebook.com/bradstevenett
Twitter:      www.twitter.com/bradstevenett
LinkedIn:   www.linkedin.com/in/bradstevenett


 ______________________________________________________

 CENTURY 21 Miller Real Estate Ltd., Brokerage, Independently Owned and Operated

Cell: 905.407.7381 | Office: 905.845.9180 | Fax: 905.845.7674

Oakville Real Estate, Burlington Real Estate, Milton Real Estate, Mississauga Real Estate
www.bradstevenett.com      brad.stevenett@century21.ca

Follow me on these sites:

    _

 _______________________________________________________

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Brad Stevenett

Brad Stevenett

Sales Representative
CENTURY 21 Miller Real Estate Ltd., Brokerage*
Contact Me

Blog Archives

Tags