Wednesday, August 17, 2011
Housing Market News
Well, here we go again. I had sent my monthly newsletter to my clients for the month of August stating that there was a hiccup in the financial market. Yes, there was and most of my clients, as probably everyone else's, locked their wallets and checkbooks up in a vault. Didn't throw away the key, but... Now, things were better last week and some have decided to get back into looking for and purchasing a home.
Great. What do I see in the paper this morning? "Eager Buyers Keep Housing Hot". Isn't that the truth? Yes, there are buyers out there but a hugely depleted inventory of homes for sale. Multiple offers...big time. I just went through this with a buyer. 8 offers on a link home in Mississauga. We went in with an extremely fair offer, but alas, we didn't get it. Disappointment for a while, but after discussing the pitfalls of overpaying, we are now on to the next one. Now, remember, there were 6 other buyers besides ourselves, that are in the hunt. Chances are I'm going to meet those agents on the street again as we wait for the response from the sellers about our offers.
Canadians still have a dream of owning a home. All the talk that the market was going to 'tank', isn't happening. Interest rates remain low and appear that they're going to stay low at least well into 2012.
Prediction is, that inventory levels may increase in the fall as the summer holiday season comes to an end and the kids go back to school, also, more baby boomers MAY look to cash in on their biggest asset at the market peak. If that happens, then the multiple offers may ease. Sales of homes that are priced well and show well with little left for the buyer to do will sell quickly.
My buyers right now are in a little bit of a panic as school boundary issues become important, travel to and from work becomes an issue, plus a gamut of other specifications that I deal with in order to get my buyers in the home of their dreams.
The EX is just around the corner. Buskerfests are happening. Southside Shuffle is coming back. Fall is just around the corner.
Get out there and enjoy the rest of this most perfect summer. There is so much going on, and a lot of it is free. If you have any questions, I haven't gone away so I am here to provide answers. Take a visit on my web site if you are leery of talking to an agent. Take a look at my YOU TUBE Videos and get to know me before we meet.
Remember, no pressure tactics...just persistence at getting this done.
Your decision is the decision I will respect.
Betty Bartusevicius, Sales Representative
Re/Max Realty Specialists Inc., Brokerage
OFFICE: 905 828 3434
DIRECT: 416 427 1875
WEB SITE: bettybart.com
LET ME GIVE YOU A HELPING HAND
PERSISTENT AT GETTING THINGS DONE!! ALL REFERRALS ARE GREATLY APPRECIATED.
not intended to solicit buyers or sellers under brokerage contract