By Warren McNeil

Today I was reviewing the listings, and it is pretty slim pickings right now. I think it has to do with the fact that it is the winter-time and because sellers are still bit nervous about the state of the market. What does this mean? Well, buyers really need to look hard for homes to find anything decent. As for sellers, this could be a really good opportunity to sell since there are less homes currently for sale.

It is always hard to determine what is the best time to sell. In the winter there is usually always less homes for sale then the spring. People always seem to wait till the snow melts before putting their house up for sale. But what people don’t realize is that the winter could be a good market to sell in because there is less comptition out there.

If you are a buyer, you might find a real gem in the winter. There are always good opportunities out there, you just have to look for them.

In spite of what the market is doing there are still people looking at buying and selling real estate.

Thanks for reading,

Warren & Melanie McNeil | Sales Representatives, Team McNeil | Re/Max Twin City Realty, Brokerage
( 519.579.4110 | * Click Here to Email | 8 www.clickthathouse.com, www.teammcneil.com/blog

By Warren McNeil

We just got back from a couple of weeks in beautiful sunny Florida. Oh how I love the sun!

The average temperature was about 75 degrees Fahrenheit. We drove so we had the chance to enjoy the countryside. I won’t go in depth here because it would be boring. I will say that West Virginia is absolutely beautiful. I love the mountains. I find it really convenient to be able to drive somewhere tropical. It is not quite Hawaii but it sure beats the cold temperatures that we have to endure here.

We like to try and take a vacation in January because we find that time allows us the minimal amount of disruption for our clients. It works out quite well actually.

While I was away, I had the chance to think about a few things and reflect on what is going on in the market. There sure is a lot going on right now. Sounds like the government is doing a lot of different things to stimulate the economy. My goal this year is to remain positive and do the best job that I can to help our clients. Like I said before, I am not participating in a recession so it will be business as usual. I feel really confident about the future and know there is lots of opportunity for investors, buyers and move-up buyers. This is a different market and it will effect some people negatively and other people positively. In a hot sellers market, sellers truly benefit and in a softer buyers market, buyers benefit.

We are very fortunate here. I learned yesterday from a realtor in Florida that US banks require their buyers to have 20% down. That’s huge! We are very fortunate that our banks only require 5% down. Even though we abolished the 0% down, I think that 5% still allows most buyers the opportunity to invest in real estate. I think having to come up with 20% would be extremely difficult for alot of people and would  really effect the overall  number of unit sales. The less unit sales, the less people borrowing money and the less money banks will have to lend more more. It is a never-ending cycle that effects the economy.

Now is a great time to buy because prices are reasonable. Gone are the days of houses selling for over market value. We are still seeing the occasional multi-offer that yields a higher return but not as many as 2006. With that said, Waterloo region didn’t really have the crazy housing bubble that some of the other areas of Canada experienced.

Buyers are just being more cautious right now. We are still selling houses and we will continue to sell them. We’re starting to see more investors and move-up buyers. They seem to be our primary clients.  People who are selling need to sell and are pricing their homes at market value, some even below. The average days on market has increased but it is all based on what people are pricing their houses at. Obviously if the price of the house is over market value then it will take a little longer to sell. If the house doesn’t sell at the higher list price, the market will correct the price until the house sells.

If you buy, you should plan on holding onto your investment for a few years.The housing market will rebound in the months to come. This is just how real estate works.

Now that was a blog-full. Sometimes I just go off on a tangent. 2009, we’re ready!

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil | Re/Max Twin City Realty, Brokerage
( 519.579.4110 | * Click Here to Email | 8 www.clickthathouse.com, www.teammcneil.com/blog