The expected slowdown has arrived. The extraordinary activity of 2012 carried forward to the first part of 2012, but faded in the second half. One trigger was no doubt the new rules and regulations for mortgages, which made it more difficult for buyers to borrow money. Not necessarily a bad thing given the level of debt the average Canadian has. Another trigger is simply that prices have outpaced buyers' ability to buy in certain segments of the market. Over-building of under-sized units in other segments also did not help.
Next year is expected to extend the down trend, though as we have seen in the past, anything can happen.
Since our overhead is very low, whatever happens to the market will have minimal effect on us. We will continue to help our existing and new clients with integrity, honesty and professionalism. We are never in a rush to "sell" our clients something. If they are serious in their endeavour of switching homes, we want to help them make the best possible decision under any circumstance.
Bring it on, 2013!
John Tran
Broker of Record
About Me
- John E. Tran
- I love technology (eightdawns.com), I love real estate (citywideprofessionals.com), I love to write (this blog) whenever I get the chance and I love capturing special places, things and people through photography (https://www.flickr.com/photos/jetsphotos). I love technology because it helps to improve the way we work and communicate. I love real estate because it gives me the pleasure of working with people on a personal level. I love to write because it is so therapeutic. I have to admit, my writing is erratic. I have fun playing with words and coming up with different ways to portray my thoughts. I find myself not writing as regularly as I would like. Nonetheless, I would love to write a book some day. I love photography because it helps to preserve memories that fade too, too quickly. I would love to get good enough to be featured in a gallery.