July 27 2009.

With one of the toughest periods that most of us have ever experienced, in our economic and personal life behind us where do we go from here?  The last half of 2008 and the start of 2009 are so well documented as to the struggles for most Canadians I am not even going to take a look at it.

Let’s take a look ahead, it seems that most of the economic brains say that the worst is over, but is it finished? I feel that there is still sometimes of struggle ahead but the worst is over.

We see Real Estate sales beginning to pickup and in some markets even pass last years. From a Cranbrook perspective sales are just slightly behind this time last year but all indicators say the worst is over.

Will we see price increases, in my opinion not in the immediate future? I believe we are for a fairly stable market for at least the next year with steady sales.

So what does this mean? For the Seller the good news is that the market will stabilize and the price decreases of the last year are almost done. There will be hiccups and still some decreases in market value depending on demand but in general it should be stable.

For the Buyer this means more choice and or inventory to choose from but the biggest thing is the interest rate. If you have been sitting on the sideline thinking about getting into the market or maybe buying a revenue property there has been no better time than now to get into the market.

How long will this last? We know the Bank of Canada say’s at least six more months of lower interest rates and the strong inventory really depends on how motivates the Buyer’s become.  Inventory is a very fragile thing and in smaller communities inventory can change very quickly.

So if you are thinking why not give me a call at 250-421-1853 or e-mail me at barryseitz@cranbrookagencies.com and I would be glad to discuss this with you.