Real estate - The new market reality
What a great way to start the day. Reading this certainly made me breathe a sigh of relief. I have been telling my buyers and sellers the same things as Michael Polzler has in the statement below. I still understand that job security is a priority issue with many and I am willing to work through all their questions while searching for their home either as seasoned buyers or first-time home buyers. Also, to anyone considering selling their property -- I will provide you with information and comparables to assist you in the sale of your property and I will also be available for comfort during the process.
Now, grab a cup of coffee, and read below. After reading this, you can understand why realtors, like myself, have a wider grin this morning.
"As stability returns to residential real estate markets across the country, realtors and their customers are breathing a sigh of relief. The carnage south of the border has failed to materialize in Canada and all indicators - economic and otherwise -- point to a housing market on the upswing.
These have been trying times for our industry. Realtors that bought into the negativity in the marketplace from September 2008 to March 2009 now find themselves in a precarious position. No listings, no clients, no money. The 'paralysis by analysis' approach of letting fear limit progress has few benefits. Those that stayed the course over the period-pressing forward despite obvious challenges, adjusting to conditions, employing new strategies, creating solid business plans, farming entire neighbourhoods, and aggressively listing properties--are now ideally positioned. Realtors, who stepped up, instead of standing back, are now reaping the rewards.
The same held true for purchasers. Buyers who moved in the midst of uncertainty, ignoring warnings from doom and gloom forecasters, economists and naysayers, snapped up some of the best real estate deals this market has seen in years. By contrast, those who panicked and chose to sit it out on the sidelines are now facing rising interest rates and-in some markets-limited inventory levels. With national resale housing market activity returning to pre-recession levels in May, it would seem that we've come through the worst of the financial meltdown, with the real estate correction nearing an end. The number of positive indicators is very encouraging.
However, recovery is still underway, and there may still be some bumps along the road. Nevertheless, the buoyancy in the marketplace took economists by surprise. Just over half of all major markets reported an increase in unit sales in May over year-ago levels. Consumer confidence continues to strengthen across the board. While the summer months are approaching, it is important to remember that there is still much work to be done. This is not the time to take your eye off the ball. Ours is a market-a business-that must, by necessity, continually evolve. We know by experience that the real estate climate can change quickly"
I hope this was helpful and brought a slight sigh of relief to all of you. We are in the summer market as of now, and there are fewer homes being listed for sale. Buyers are fussier as to what they want to buy, and sellers are more realistic as to what they get for their existing home. If you would like to get more information, or just to chat, I invite you to contact Betty Bartusevicius directly at 416 427 1875. For free information regarding real estate, register on my web site and enjoy. If there is information that you would like to see on my web site, let me know through email at firstname.lastname@example.org and I'll make sure to provide it to you.
Contact Betty Bartusevicius at your convenience at 905.828.3434 or directly at 416.427.1875.
Re/Max Realty Specialists Inc., Brokerage
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