You've all asked a Realtor this question... and most of us hear GREAT! Well what does that mean?
After all we are all hearing the world news on T.V. and many are probably getting anxious and scared about what the coming months will bring.I'm no prophet that can predict the future and I won't try to be a pundit as they usually have contradicting predictions.
So what can we expect? We know definitely interest rates will continue to be low... at least for another couple years. Banks have already lowered their 5 year rates which is a hint that central-bank rates are "probably" heading downwards or at the minimum won't change anytime soon. What about prices? What I see in the resale market is that they have stabilized and home owners aren't getting the same gains for their house or condo as they were early summer. What about pre-construction prices? So far there hasn't been any price reductions as pre-construction is fueled by Investors (up to 80%) and a lot of Foreign money. Will this trend continue with all these new projects coming out? I'll keep you posted if things change. It's doubtful as Real Estate is one tangible investment people can invest in to "park" their money long term if you know what I mean.So what Real Estate questions do you have that you would like answered? Let me know at jasjagpal@gmail.com or call us...
Jas Jagpal, Broker Cell: 647.272.6629
Jess Jagpal, Realtor Cell: 416.312.9742
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