Monday, September 28, 2009

YOUR TRENTON REAL ESTATE UPDATE

Well, here we are edging towards autumn on the heels of a very 'interesting' summer in the Real Estate industry. You can tell from the 'bi-polar pontificating' of real estate, business, and political gurus that no one truly knows what's going to happen in the market next. Will home prices go up, will the next government change industry programs, will mortgage rates remain the same? ... and so on.

From the information provided by the Quinte & District Real Estate Board, you can see what's been happening locally. All is certainly not great news, but these are the facts nonetheless. My personal beliefs are that any positives in our little 'Quinte bubble' may be offset by a myriad of factors in 2010 such as an increase in mortgage rates and/or by the 'dreaded HST'. In other words, positives like the future expansion of the military base could be be negatively impacted by larger factors outside our market place.

The silver lining in all of this is that Buyers are happier with the more realistic prices, great mortgage rates, and potential upside to market prices. Consequently, our market has not seen the drastic slide in prices as has happened elsewhere.