21st of February, 2009
Greetings;
What's happening in the Market Place?
Good question!
If you listen to the "news" you would think you're "chicken little, and the sky was falling".
Well, yes, in some respects it is falling, however has anyone bothered to look out the window the last few days? It's not raining; the sun has been shining in bright clear blue skies. Even our own MLS stats are showing an increase in sales over last month of more than 200% but still down from the same period from last year at this time. But then sales at this time last year were still setting new levels. So how do they compare to last year for the same period? 506 vs. 863. Yes, that's down, but compared with the same period last month which was 232, I'd say the buyers have returned. Now couple that with fewer new listings...
Does this mean that the financial collapse is over? I doubt it, but just maybe, we're seeing the beginning of the end.
Well here's an article which was found on the cover of the Real Estate Weekly. The lead paragraph goes like this:
"A drop in the number of properties for sale is a signal that the current buyer's market may be ending, according to the Fraser Valley Real Estate Board. For the fourth month in a row, listings through the MLS system dropped in January. This decreased the number of properties available in the Fraser Valley to 8,630, 26 percent higher than January 2008, but 30 percent fewer than the Board's record high number of active listings in September 2008."
Here's a link to the complete story: http://www.mylasso.com/FileWarehouse/Users/User_5333/Documents/REW_Langley_Article.pdf
It's a good little read, and it ought to give you a small piece of comfort to know that maybe the sky isn't falling after all.
Buy now;
Hugh
Your favourite Realtor
http://www.hughmessage.com/
Coldwell Banker 1st Pioneer Realty
22424 Fraser Highway, Langley, BC V3A 8N3
604-551-6584
.