Ken Anderson, Broker c/o APEX Results Realty Inc.
2465 Walkers Line L7M 4K4 Burlington, ON, Canada

Summer Real Estate News WHOA! SLOW DOWN, GIVE A GUY A MINUTE!... Is it just me, or is this year just flying by? It seems just yesterday that I got back from Florida, and all-of-a-sudden: it’s summer! Actually, this should really be called the Midsummer Real Estate News. Normally I like to get this off sooner, more like in June, but I held off this year due to the changes in the market and mortgages that occurred around then. I needed to get a feel if they would sustain, and if a pattern for the rest of the year would appear, so that I can offer more salient advice. Well, it looks like we are going to continue to have a more balanced market going forward, in which there is still a relatively strong demand, but now with a greater supply of listings to choose from. This should make for a more comfortable market to function in for both buyers and sellers, as well as real estate professionals. I don’t think we will be seeing multiple offers on most listings anymore, not to say that there won’t be on well-priced, well-appointed homes, but generally over-all, not the hyper-active frantic market we came through. I was working in Florida when I was there and I could see it happening to my clients as I sent them listings and listened with dismay to their laments if they lost out in competition, or wondered if they paid too much when they won. My business partner, Robert Bryer, would try to describe it to me, but I didn’t really grasp the emotionality of confronting this market until I faced it personally. It was just crazy, man. I think the worst competition we were involved in was 11 offers, but we heard of others where there were 30 or more! I saw a listing at $269,900 sell for $371,000! Not one we were involved in, but how does that make sense? Well, I think it was deliberately under-listed to generate maximum interest, and then the bidding war took over. Anyway, now one can evaluate properties with a sense of certainty; and make offers with the proper precautions like home inspection, finance and insurance conditions. Interest rates are still low, and should remain stable for the next 6-12 months. Now would be a good time to buy or sell, given a stable market to work within. Buyers and sellers can negotiate with more confidence based on the market-derived evidence, both feeling the fairness of the deal. Thinking real estate? Think Ken Anderson Ken Anderson, Broker Apex Results Realty Inc., Brokerage 2465 Walker’s Line, Burlington, ON L7M 4K4 Office: 905 332-4111 Fax: 905 332-4052 Cell: 905 630-0935 [email protected]