Wednesday, February 10, 2016
Judy Marsales, Broker of Record
Local Hamilton Market Conditions General Real Estate Advice
I am taking some liberties with two famous quotes in an effort to offer some sage advice. There is an absolute wealth of information available today from C.M.H.C. and our local real estate community - factual data and statistics. We hear that our market place is attracting buyers from the GTA due to the widening gap between local home prices and the Toronto marketplace. There is no doubt that homes in the Greater Hamilton Area are lower than their counterparts in the GTA. There are many facts to consider in this discussion which include transportation, employment, the current low interest rates plus the low inventory of available properties.
However, one statistic which is rarely mentioned is the demographics in our area which suggests that we have an older population. This population is currently reviewing their housing needs with an eye to future comfort or mobility. Should this large demographic decide to move, the market dynamics would shift considerably. If you are in the "baby boomer demographic", you may want to get ahead of this shifting "supply and demand" equation by offering your home for sale while the market is in your favour. And the market is in your favour to sell at the moment!
Home owners still have to be cautious in ensuring that they work with professionals who know the market place in which the home is located. Selling real estate is not as simple as sometimes portrayed on television and consideration should be given to the services offered by a professional REALTOR® who has the ability to attract the highest and best prices. Everyone wants the best deal but when we are selling our home, which for most of us is our single largest investment, we cannot afford to be penny wise and pound foolish. Let informed knowledge and statistics guide your good decision. Speak to one of our Hamilton Real Estate Agents. for the best real estate advice. It is currently a strong Seller’s Market.
Bay Observer Article – written by Judy Marsales, Broker of Record, Judy Marsales Real Estate Ltd. Judy is a frequent contributor of articles on the Bay Observer website.