With Heather doing her blog, well I had to contribute something myself.

With the drop in home prices from $427,000 in July of 07 to the current $350,000 mark, I can't help but think this may very well be a good time to buy.  Add to that being able to get a 5 year closed mortgage for as low as 4.29%.  I have seen buyers now coming out of the woodwork when comparing their rental costs versus ownership costs.  Before now, many buyers either could not get financing for what they would like to buy or were not willing to pay the high mortgage payments.

Inventory levels have also dropped significantly over the last year.  What does all this mean?  I believe we are in a buyers market.  There is quite a lot of choice and not often do we see multiple offers.  I say "not often" cautiously because we have seen this on undervalued properties. 

I believe in this province with its many economic advantages.  Once oil prices return to where they should be ($70-$80 per barrel) I believe we are going to again see strong growth.  At that point, how many sellers will be willing to move much from their asking price?

If you are considering getting into a home, give me a ring and I ,or more accurately "we", would be happy to help you with your home hunting.

Dennis Faulkner, B.A. Economics