Everyone is buzzing about ‘The Market’ these days! Whether it’s the Real Estate Market, the Stock Market or the Atwater Market – we all want the best deal!
The media bombards us with information, but remember:- statistics are based on ‘national’ figures for all housing, construction and inflated markets across Canada.
The phrase, ‘every cloud has a silver lining’ is appropriate; here, it’s opportunity in the buyers’ real estate market! Now is a great time to invest in the quality and value of Montreal’s unique architecture!
So Think Positive, Look For Opportunities and Remember …
• If you are selling lower … you are also buying lower!
• More houses on the market mean more choices!
• Buyers now have a bigger ‘renovation fund’!
• A fabulous stone mansion in Westmount costs no more than an ordinary bungalow in Vancouver!
• Let’s do our part to get the economy moving!
In the December issue of Canadian Real Estate magazine Elton Ash,
executive vice president of ReMax, Western Canada, writes that a long term
investment in real estate, in a stable location, is still the best
investment in the world. Historically this type of real estate investment
is more secure and less risky than the stock market over the long term.
Selecting the right location is crucial and that means finding a stable
market…a safe haven. The CEO's of Canada's major real estate companies
along with Gregory Klump, chief economist at the Canadian Real Estate
Association (CREA), have done a study based on steady growth and have come
up with Canada's SAFE HAVENS. The criteria: 1) Is the economic base
diversified? 2) Have home prices seen a steady growth? 3) Is the city
growing? 4) Is there rental demand? 5)Is there a large baby boomer sector?
The TOP five are Victoria, Winnipeg, Kitchener, Barrie and Moncton
but…Montreal gets honourable mention emphasizing its' historical price
increases and steady growth, diverse economic base – aerospace, tobacco,
pharmaceuticals and a rental vacancy rate of 2.9%. The more diversified
the economy, the less likely we will experience a negative inpact from a
downturn, therefore Montreal remains in a good position.
