SPONSORED AD: Real Estate Perspective

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This past month has seen a dramatic change in the real estate market….going from a very strong SELLERS MARKET with bidding wars and high expectations for a generous selling price to the potential of a BUYERS MARKET as listings begin to increase in numbers, coupled with a reduced response from the marketplace.  This change has disappointed sellers who are now relisting their homes at a reduced price, in the hope of capturing some interested buyers.  Another risk to consider is for home owners who purchased another property without a condition on selling their home.  Our objective is to try and reduce the stress of this market change, by offering perspective to both Buyers and Sellers.

With over four decades of real estate experience, I have experienced some dramatic changes over the years.  For example, selling real estate when interest rates were over 20%, or seeing homeowners walk away from their homes because of financial stress or loss of a job.  Every market has challenges and opportunities, and we must all maintain a healthy perspective.  Your home should be a comfortable and inviting place to live – as opposed to a ‘gold brick’ for trading purposes.  If you would like to develop an investment portfolio, including real estate, then you must plan for market variances similar to other investments.

There is substantial statistical data to enable everyone to make informed decisions based on the facts.  No one has a crystal ball. Use facts to enable your decisions. If you are renewing your mortgage, you may want to consider taking a longer term with a slightly higher interest rate to provide you with consistent mortgage payments over a longer period of time, and hopefully reduce the stress. I remember when families would stay in their homes for decades, which encouraged friendships between neighbours and all the children going to school together.  This stability provided a comfortable base for generations of community supporters. Let’s all maintain a balanced perspective. Enjoy your home, and stay healthy.    We are here for you.  Call us, Email or visit one of our offices.

Judy Marsales Real Estate Ltd., Brokerage