Here it is, my first blog posting for the website. I will keep posting messages from time to time to keep you all updated on the real estate market here in Lloydminster. So please keep checking in for frequent updates.
Things are still relatively busy here at Century 21 Lloydminster. Property is still moving and there is still lots of interest out there. Showings on our properties are also back up again since the new year. Right now we are in a buyers market where we are seeing a lot of selection and buyers are looking at several houses before making that big decision. People are being given more time now to make a decision as opposed to a couple of years ago when you had to look at something that day and buy it on the spot or else it wasn't going to be there tomorrow. This and along with the Bank of Canada having its interest rates lower than they have been in 50 years are making it very appealing to many buyers. You can now go look at 10 houses (which are cheaper than they were before), pick the best one, bargain on their asking price (making the price even lower yet), and then being able to mortgage it at a very low interest rate. From there, they will sit on it for the upcoming years and when the prices go up again they will be saying, "Jeez... I wish I would have bought 10 houses back in 2009". I heard that exact same quote in my first couple of years in real estate when the prices were going through the roof and I know I will hear it again. All in all it is definitely a more appealing time for anyone to be buying and it is showing. People can see things having the chance to turn around and are jumping on the opportunity before it goes away. Recent reports have been saying that prices will start to rise again in the third quarter of 2009. Real Estate is something that is has always been impossible to predict though. So for now I guess we will just have to wait and see what the future brings.
If you have any questions or comments on my blog feel free to write me an email or call. I would love to hear from you with any input that you may have. Have a good day and I will be seeing you on my next blog posting.