SHAWN LACKIE Our Neighbourhood Brokerage Inc.
Real Estate is a funny game. Almost everyone you talk to has an opinion on the market. Go to a party or social gathering and mention you are in the biz, and suddenly, you are deluged with multiple questions. What's the market like? How much is my home worth? What did Joe's place sell for? How much are interest rates going to go up? Or down? And why is that? So many questions and so few answers. So, you will need to check back regularly to stay on course.
First off, let's talk about stability. The market is in a stable phase, a welcome change after the fluctuations of the last few years. We're moving towards a balanced situation, which is a positive sign. The days of overbidding are behind us, and while there are still instances of multiple offers, they're not as extreme as before. The final winning bid might be a bit over the asking price, but it's not the frenzy we saw in the past.
Another positive development is the return of accepted offers with conditions. We're seeing conditions like financing, inspection, and Lawyer's approval being included in offers again, after years of being dropped just to close the deal. This is a fairer approach for both parties, especially the buyer, and it's a sign that things are starting to even out in the market.
Ultimately, the most important thing in real estate is the satisfaction of both the buyer and the seller. This is our focus, and rightly so. We're here to ensure that your real estate experience is as smooth and satisfying as possible.
Listings are still on the low side, but that should be rectified once the Bank of Canada drops interest rates to where they should be. Until then, it is always up to the consumer to make sure they are working with the right representative and have been given full information on market tendencies. That makes a difference.
The main idea behind this column is to answer your questions on the goings on in Real Estate. If you have a question, feel free to send to slackie14@hotmail.com. If your question is a good one I will include it in a future column to share with all.
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