Real estate is now an “opportunity market”. Like many of you, I have survived through previous downturn years because it presents some great opportunities.  Your dream home or luxury retirement condo, is actually now, much more attainable and at a lesser price than was ever possible in the past few years.  The gap between a smaller home or condo and an expensive one is much less.

The logic being, a less expensive property drops a lesser amount in dollars, than a more expensive one.  Since the less expensive property is more affordable, there is a greater demand and as a result, these do not tend to drop as much as the more expensive ones.  Where the opportunity presents itself, is that a more expensive property not only drops a greater amount in dollars, but is further augmented by a lesser amount of buyers being able to afford the larger amount in the first place.  The result is, a terrific buy for the move up buyer!  

An additional bonus, is that interest rates are at historical lows.  This also makes it a great time to buy that investment property or buy your retirement condo now, for the future.  

One of the chief economists of CIBC, recently advocated that over the next couple of years, there will be a lot of people who will look back at this time and say, “could of – should of!”.

On that same note, the Toronto Real Estate Board’s most recent publication, Market Watch in 2009 included the following statement; “Given that we are not facing an early 1990s-style affordability crisis, the rebound in the housing market will likely be quick once economic recovery takes hold.

If your job and financial position is stable, take advantage of this “opportunity market”. 

Call me today and I would be happy to discuss any of your real estate ventures.