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Why it’s smart time to buy

As your local Coldwell Banker® real estate professional can tell you, there’s a lot that’s good about today’s housing market.  And it’s all because of the three cornerstones known in the industry as I.I.P. – Inventory, Interest rates and Price.


In most markets across Canada, these three fundamentals are creating some of the most affordable housing seen in many years.  The inventory of listings is strong, giving buyers a lot to choose from.  That increases the likelihood of finding the home that’s just right for you and your family.  The Bank of Canada reduced interest rates again in March, and mortgage rates are now sitting at near historic lows. At the same time, home prices have adjusted to more affordable levels in most major markets across Canada.


Those three fundamentals of I.I.P. are having an impact in almost every local market.  Without question, there will be many great opportunities that are ready and waiting for a savvy home buyer to take advantage of right now.  In February, CREA reported an 8.6% increase in transactions over the previous month, the first monthly increase in national sales activity since September 2008.  February activity also surpassed levels reported in November and December of 2008.  This is a clear indication that buyers are seeing value and are coming back into the market.


Consumers need to focus on these strong fundamentals and gain confidence in housing.  Some buyers still think they can time the market and are ‘sitting on the fence’ waiting for exactly the right time.  This can be a costly mistake.  While you’re sitting back with a ‘wait and see’ approach, the right house at the right price and the right terms may be snapped up by another buyer who recognizes the opportunity.  Reading isolated news headlines is not a great way to gain balanced information about the housing market.  Such news stories often focus on very short-term events.  They don’t tell the ‘big picture’ of how the vast majority of Canadian homeowners have achieved solid appreciation in value within just the last few years.   To make an informed decision, you need to know a great deal more information that’s specific to your target neighbourhood. Your local Coldwell Banker sales representative can tell you the whole story about your community, including such issues as historical appreciation in value, current inventory of listings, future development plans and time on market.


Why not talk to me, and get a balanced perspective on some of the opportunities in today’s market.  You have nothing to lose, and it just may be the most important call you’ll ever make!

Jordan Epstein

Office:416 495 2208



Coldwell Banker Terrequity Realty, Brokerage

Published Sunday, April 26, 2009 10:41 PM by Jordan Epstein

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