Personal Real Estate Corporation

Office: (250) 385-2033 |

RSS

Great time to be a buyer

"I think I'll wait until the market gets better to buy." Its a statement I am hearing more of these days. We in Victoria, while enjoying a better-than-national-average real estate market, are currently experiencing higher inventory levels and slower sales than we've seen in over a year. These conditions just happen to be coinciding with low-low interest rates. What does this all mean? It means that this is an amazing time to be a buyer! Sure the argument is that prices may go down as a result of this slow down, but that may also coincide with increased interest rates that would negate any price savings.
Right now on the front lines I am seeing the opportunity to negotiate reduced prices (in some cases substantially reduced) for qualified buyers. So...lots of selection, low rates, and motivated sellers without those pesky bidding wars.....I say get out there people!!

Comments:

No comments

Post Your Comment:

Your email will not be published
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.