Summer Is Almost Here and Good Real Estate News
A week ago in the Toronto Star, Tony Wong wrote: "REAL ESTATE VIRGINS BUY IN". What does that mean? That means, first time home buyers are finally taking advantage of the low interest rates and great prices for homes. Of course the economy is on everyone's mind right now, but lower prices and low interest rates are luring them into the purchase of a home.
Also, the first time homebuyer's tax credit and home renovation tax credit for 2009 have been influential factors. First time buyers are key to the market because they allow move-up buyers to sell their homes while continuing up the housing chain to more expensive properties.
I have noticed quite a decrease in listings coming on the market, which makes me think that we could possibly be entering a seller's market. There have been more and more multiple offer situations being reported by my colleagues. The prices don't seem to be going up, a little bit but not a lot, and that doesn't seem to deter any buyers from at least looking. I try to do open houses every weekend, and in the last few weeks, in certain areas, I am averaging about 12 families coming through the open house in a period of 2 hours. They are ready to buy but the house may not suit their needs.
Now we're seeing that builders are beginning to plan future sites and projects which brings hope to the home resale market.
BMO Capital Markets Economist Robert Kavcic has been quoted as saying, " with the Canadian economy poised to begin the recovery process by this fall, the worst of the residential construction recession might be behind us."
So, let's get to it folks!! Want to chat Real Estate? Want information about the Market?
As a resident of Mississauga for more than 20 years, I understand the market, the people and the community. I believe selling and buying your home can be a hassle-free and satisfying experience and I have the perseverance, negotiating skills and ability to listen, to make that happen. When you list your home with me - allow me to assist you in purchasing a home - you will receive the highest level of professionalism and service. No gimmicks, no high pressure sales tactics - just a quick, efficient and profitable experience in selling your home -finding a new one.
Contact Betty Bartusevicius at 905 828 3434 or directly at 416 427 1875
Re/Max Realty Specialists Inc., Brokerage
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If you know of friends, family, or colleagues who are thinking about making a real estate move, feel free to pass along my contact information. Know that their real estate needs will be well attended to with kindness and professionalism. Your referrals will be greatly appreciated.