For more information and a look at the Fredericton, Moncton and Saint John markets --- CLICK HERE FOR MORE
First in July and now in August, sales of residential units are trending higher and were are almost equal to the last two years' monthly sales for July and August.
Of particular note is that the average residential sale price in metro Moncton reached a new high for any month.
All of us have the right to purchase anything, even real estate, without representation. We also have the right to choose others to represent our best interests in any purchase which is complicated, involves a large sum of money or requires expertise that we do not possess.
In the realm of real estate, representation involves agency. In real estate agency one very important consumer issue is this - in a real estate transaction where the agency is representing both the buyer and the seller, can the agency represent two masters?
In New Brunswick, the licensed Agent (the agency) forms an agency relationship with the client. The Agent may also employ salespeople to represent the agency. Salespeople are not agents in their own right.
While this may technical and confusing to the general public, it is a very important distinction to make. In dual agency, the dual agent is the agency, not the salesperson.
Consumer, when dealing with representation in real estate, ask yourself this question - Do I know who is fully representing me?
CLICK HERE FOR MORE ON REPRESENTATION: "Avoid Double Agents"
Lately I'm finding a trend in the housing preferences of new-to-Canada families moving to our area. Not only are they choosing our area because of the quality of life, they prefer to live on more land than is typical for an urban lot in our area.
Not only are there currently houses for sale that meet their land preferences, but there is also an ample supply of vacant lots upon which they can have built what they may not be able to find already built.
The first thing one should determine is whether you intend to remain in the area for at least a couple of years. Owning is a strategy with a longer term. Renting should be a shorter term option.
The next most important thing is affordability, which depends on your personal finances. So how does our area compare in housing affordablity for owners and renters?
Housing Starts, MLS® sales and Rental Market Reports may be combined to reveal current housing trends and opportunities. This year housing trends are lower in New Brunswick.
Here are links to three current reports with graphics to illustrate 2009 housing trends in New Brunswick.
Video on the web has exploded as more consumers enjoy high speed access to the internet. In real estate marketing, pictures and prose sometimes are not enough to adequately convey the features of all properties. Video provides a powerful web tool for showcasing special features to potential buyers near and far.
The learning curve for video marketing is intimidating. Undaunted, this year I've jumped in. My latest video creation highlights the location of a seaside residential listing. If you look, please be kind. It's an old dog - new trick thing.
Units sales reported in May indicate the gap is widening between this year and last. With record low mortgage rates making for very low monthly payments I would expect more renters would be making the move to ownership.
Net migration plays an significant factor in local housing markets. The demand created by more people arriving than leaving boosts local housing activity and often local prices. The opposite occurs if more leave than arrive.
What will happen in the 2009 relocation season is anybody's guess. Personally I have more buyer clients arriving than seller clients leaving. It's not easy to track net migration in a given year.
Statistics Canada reports that between 2001 and 2006 around 3,000 more people moved to the Moncton CMA than left. In the same period around 3,000 more people left the Saint John CMA than arrived.
To view a larger image of my graph - CLICK HERE
