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Real Estate - Change and Confusion

 Tuesday, October 31, 2017     Judy Marsales     Local Hamilton Market Conditions

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Change, change, change… sometimes welcomed changes and sometimes scary.  The past few months have witnessed a dramatic shuffle from one of the strongest “sellers’ markets” to a market identified as “more balanced”. What does all this mean??

Let’s reduce the confusion to basic economic theory which talks about supply and demand.  This economic theory relative to real estate can suggest that when a market has approximately 3 listings for every sale, we are experiencing a balanced market.  In the past year or so, our inventory of available homes for sale was dangerously lower then that equation. At times, inventory of available homes was fewer then one home to one sale which identified as a very strong sellers’ market.  Almost everything offered for sale, sold in a short period of time with considerable activity in the form of multiple offers or bidding wars.

However, real estate times have changed… inventory has dramatically increased and buyers are nervous about the daily economic information coming their way.  Young buyers are concerned about employment certainty, interest rates, and life styles.  Baby boomers and older are concerned about their future lifestyle changes.  Concerns may be around retirement income, moving potentially to a recently built condo that is too small for their comfort, or the cost of seniors’ accommodation in a retirement home which exceeds their budget.

The good news is that a more balanced market affords everyone an opportunity to consider all the necessary facts and to make a good decision for their future before jumping into something.  Informed decisions make for less stress.  We are happy to review all the market considerations and statistical data to inform your decision and to help you move forward just call us, email us, or drop by one of our offices!


Moving With the Changing Real Estate Dynamics

 Tuesday, October 3, 2017     Judy Marsales     General Real Estate Advice

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The real estate dynamics have changed over the past few months.  Earlier this year, we experienced one of the strongest "Sellers Markets" ever as a direct result of a very low inventory of available properties.  However, with some economic uncertainties and the demographic shift that has started, many home owners decided to put their home on the market.  The result has been a substantial increase in the number of available properties for sale thereby pushing the market into a more balanced level between supply and demand. 

The good news with respect to this change is that potential buyers have more choice of properties to consider.  Another good aspect is that there is adequate time through conditions to have home inspections, second viewings, and proper financial approval. These conditions can also be a positive aspect for the Seller who can move forward with more confidence knowing that the Buyer has completed their due diligence and is happy to purchase their home. 

When markets go through some change, it is very important to have all the latest statistical information on which you can base your decision whether buying or selling.  A seller wants their home to achieve the highest and best return but does not want to price their home out of the market based on past information.  A buyer needs to know that they do not need to feel pressured to make a decision based on the past market of multiple offers and bidding wars. 

Current information is the key to a good decision.  Call us, email us, or drop by one of our offices for the most up to date real estate information.   


Real Estate Choices and Reducing Buyer Stress

 Tuesday, September 26, 2017     Judy Marsales     General Real Estate Advice

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What a difference a few weeks has made with respect to the inventory of available properties. Have you noticed the increase in Open Houses? Prior to this increase in listings, we had experienced a very strong Sellers' Market based on lack of available homes. The good news is that we are now enjoying a more balanced market where potential buyers can take some time to explore all the options. A real estate transaction does not have to be pursued under that previous market pressure and all the various elements can be properly explored… home inspections, financing options, multiple viewings.

A balanced market is also in the best interest of a potential Seller as the knowledge that the Buyer will complete the transaction after careful consideration, and as specified in the Agreement reduces the stress. Sellers should not be worried. Currently house prices have remained stable in most areas and continued to rise in other areas. Interest rates moved up slightly but again, the good news has been that this increase has not had a serious impact on the home values. Given this very changing economic time, informing your real estate decision is a key to moving forward in a less stressful manner.

Let us share our knowledge and experience with you as you look at buying or selling a home, condo, or an investment. We are here to help you to the best of our ability. Call us, email us, or drop by one of our offices.


Changing Market Conditions

 Saturday, July 29, 2017     Judy Marsales     Local Hamilton Market Conditions

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Real estate markets are never static! The market has enjoyed a very strong Sellers' Market for the past year based on a lack of supply of available properties, combined with the very low interest rates.

However, over the past couple of months, we started to see more properties coming to the market and the real estate market slowly moving to a more balanced supply of available homes.  The increase in interest rates, while very minimal, sent a slight shiver through the market signalling a potential change in lending rates.  However, based on the information to date,  I believe that we are moving into a more balanced market environment. 

There is no need to panic.  We are watching a demographic shift as one of the largest demographics in history - "the baby boomers", consider what their next real estate move might be... should they downsize, buy a condo, or stay put.  The bottom line is that in a time of change and potential challenge, it is even more important to get the most up to date information on which to make a good decision.  Your decision will influence your future and we want you to be comfortable with your decisions.

Let us help to inform your decision and provide you with all the necessary information to be relaxed with your future.  Call us, email us, or stop by one of our offices.  We know real estate and we are here for you.   


May You Live In Interesting Times

 Tuesday, June 13, 2017     Judy Marsales     General Real Estate Advice

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"MAY YOU LIVE IN INTERESTING TIMES" is a quote from history and is certainly applicable today both globally and in the current real estate market.

There is no shortage of opinions, theories, or general ideas floating about across a variety of medium. Every social setting provides an opportunity for questions and forecasts.  The range of analysis is from the potential of a housing market crash to the suggestion of values continuing to escalate.  It is difficult to project which direction we are currently headed in… the “crystal ball” seems a bit foggy.

However, it is safe to suggest that change will be coming.  Let’s step back and look at some practical facts.  

We are experiencing some of the lowest interest rates in our lifetime, some of the highest debt levels in history, some global economic instability, and a demographic shift.  What does all this mean?  Simply, make good real estate decisions taking all the known facts into consideration.  Your house is your principal investment but it will also be your home… the place where you live, entertain, and enjoy life.  Your home is not a guaranteed GIC that you file in a drawer.  There will be times when the value goes up, a time when the value stagnates, and times such as between 1990 to 2001 when the average value went down.  Plan accordingly.

While sheep are cute and furry and follow one another without question…..don’t be a real estate sheep. Make real estate decisions with current information from knowledgeable sales representatives.  Call us and we will provide the latest data together with the many options to consider as you move forward.  Make your interesting times also positive times.  Call us, email us, or drop by our office.