GREAT TIME TO BUY!
STYLEATHOME.COM STATES
"With all the doom and gloom we've been hearing lately about the softening real estate market, one important fact is being overlooked: it's a great time to buy. Housing prices in many Canadian cities are flat or actually lower than they were this time last year, houses are staying on the market longer, and the supply of available homes is increasing, making sellers more willing to negotiate. The heady days of the real estate boom -- characterized by multiple offers, bidding wars and having to move fast or risk losing out -- are, by most estimates, over.
Thankfully, Canadians have, for the most part, escaped the carnage that has hit the American housing market. Sub-prime mortgages are relatively unheard of up here and riskier mortgage products, such as zero-down and 40-year amortization, are being phased out. Mind you, most analysts predict that Canadian lenders will not escape the downturn unscathed, and that one of the most obvious effects for consumers will be that credit won't be as easy to obtain as it once was. But if you're in a financial position to buy a new home, there's no reason to wait. Real estate continues to be an excellent investment, and there's great value for money out there."
Buying a home is a satisfying experience when completed with a real estate agent and with a level head. Make sure you have a list of needs, a list of wishful things, and a realistic budget!
My suggestion - First of all, get an agent; most people don't realize that when you're buying, the agent doesn't cost you a thing -- the buyer's agent is paid by the seller. Your agent should know the market and the area in which you want to buy. A good and ethical agent will help you find good houses and steer you clear of bad ones.
Posted by Paulette Upshall
on October 28, 2008