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Brisker than usual

Blog by Jacquie P. Wilson | December 4th, 2009

So, now we have it straight from the horses mouth.  The market is brisker than usual right now.  I personally have been finding it busy right now.  People are still wanting to do business.  Usually this time of year real estate dies off.  What is fuelling the market?  Is it the low interest rates?  The Pending Vancouver Olympic games.  The fear of the HST coming in July 2010.  Officially we are now back to peak prices.  Off by only 1.9%.  That is pretty amazing.  Prices in Real Estate have been steadily climbing over the past twelve months.  Now where are they going to go....down in July when we all have less disposable income because of the HST being placed upon food and services that would normally be GST free.  In July 2010 the interest rate is expected to go up as well.  Many people have over extended themselves and are makeing they're payments on they're new homes happily on a low variable mortgage rate.  But, if the interest rate goes up, some people are no longer going to be able to make those payments and will be looking to sell.  An influx of homes on the market will cause the average price to go down.