Are you looking for a rewarding, challenging career in real estate? Do you have what it takes to offer the highest level of customer service in luxury real estate? If so, we’re looking for you! Visit our careers page for more information.

A good reason to pick up a copy of The Gazette today— Jay Bryan’s article on page B1 offers some keen insights into Canadian housing prices. [Read online here]

Conflicting house price reports from CREA and Teranet-National Bank House Price Index make for a confusing price analysis—are prices rising or falling? However, statistical problems with both reports mean that these numbers may not tell us anything. The bottom line, according to Bryan, is that we’re heading for a price stagnation if not a slight price drop:

So what’s the truth? We’ll try to get closer to that, but if you don’t enjoy economic analysis, here’s a reasonable bottom line: the real-estate market is neither booming nor collapsing. Instead, it’s likely headed for a couple of years of either stagnation or mild price declines.

The reason we can’t be more precise is that the housing market seems to be faltering after a powerful recovery, a condition that makes it particularly hard to measure prices accurately.

At turning points like this, CREA’s monthly measure of average home prices is highly valued. It gives the quickest indication of when and how much the market might be weakening.

We have seen this phenomenon in Westmount: according to Andy Dodge‘s analysis of Westmount sales, prices have taken a steep dive since the beginning of this year. As Bryan reminds us, a decline in house prices can have a devastating effect on the economy as a whole, which we have recently seen in the U.S. markets.

What’s your take on the situation? Do you think we’re headed into a housing market slowdown?

Are you a real estate broker, looking to grow your business in an exclusive, boutique realty setting? McGuigan Pepin is currently recruiting for growth opportunities!

Why work for McGuigan Pepin?

McGuigan Pepin is the ideal choice for brokers both new and experienced. You will receive administrative support, and individual assistance from experienced certified brokers.

We offer a competitive commission structure, and excellent advertising rates.

What we’re looking for:

• Bilingualism is a must! (If you speak more than two languages, please let us know!)
• Must hold a current OACIQ license.
• Experience preferred but not required.
• Full time brokers preferred.
• Basic computer literacy.

Please send your C.V. and cover letter by one of the following routes:

By e-mail:
info@mcguiganpepin.com

By post:
4431 Ste-Catherine Ouest
Westmount, QC H3Z 1R5

By fax:
(514) 937-8808

You’re going to see a new face here at McGuigan Pepin! Walter Staniec joins us after a long career in the fur and textile industry in Poland, Canada, and the United States. He speaks four languages, including Polish and Russian. We are proud to add Walter to our growing team of industry professionals.

Joan found this fantastic photo over the weekend, of Brian McGuigan and George Bush Sr.! It was taken in 1993 at the Lyford Cay club in Nassau, Bahamas.