A new year and new challenges

Get out your crystal ball and take a guess on what 2015 will bring. Everyone has their opinion...who's right and who's wrong?  According to oilpatch veteran Jim Gray in a story published on January 1/15 in the Calgary Herald.."history shows us that the rate of recovery is tied to how quickly prices fell"..."the faster it comes down, the faster it comes back" ..."OPEC will keep prices down until they have disrupted the investment cycles of the high cost producers" It makes sense to me. Stats from the Real Estate Association of Lloydminster & District, show January sales off 41% from a year ago and supply and demand are leveling off.  This is what prices of any commodities are based on, whether it's oil or houses. It appears right now people are in a holding pattern. So is it a good time to buy? Well...there is more product available and interest rates are incredibly low with rates around 3% and less! Compare that to my first house where I locked in at 12.75%  Everyone needs a place to live and if you're renting you know how much equity you're building. If you're moving up or down, the real thing to worry about is the difference, so give me a call and let's get you into that house you've been thinking about. Cheers!

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Fred Falkner

Fred Falkner

CENTURY 21 Lloydminster Realty
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