LOOK TO THE FUTURE

Look to the future - there are no regrets in that direction!

Since the beginning of time people have been trying to see the future.  All be it by looking at the stars, reading tea leaves or dealing cards - with limited success.                                                                                        

Today our favourite method would be statistics.  We love them and use them continually, but none more than in real estate.  We can quote nationally, provincially, by region or by city.  We have statistics on condos, semi detached, detached, investments, it never stops.  The problem is the variables, always a host of mitigating factors.  If you eliminate major cities -  a different answer, disregard entry level housing, new results! Knock off the luxury market, big change!

Now that being said, I admit I like reading statistics, but have always felt changes start at the entry level.  When a starter home has problems, it works it's way up the line, the mid level looses buyers and so forth right up the line. Now if I may quote from my personal experience,  in the last week  I saw a condo sold over 4 years ago for $170,000 sell for $159,000.  Another condo paid $198,000 over 4 years ago, asking $189,000.  Another asking $169,000 - had 4 offers, the winning bide $165,000.

Now real estate may be in the bluest of the blue chip investments, but it is not just a monetary investment, it's lifestyle, family, work and emotional investment.  But like all investments there are periods of adjustments from time to time and I feel one may well be opening - so if you are thinking of selling next year, I would suggest sooner that later would be prudent.

Harold Pope

Harold Pope

Sales Representative
CENTURY 21 New Age Realty Inc., Brokerage*
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