Doug Hoyes and I last Friday had a meeting with Bob Brown, who, as many of you are already aware, is a Real Estate Agent expert in Cambridge, Ontario.
We asked Bob for his thoughts on the recent economic downturn and how things are looking in today’s real estate market?
Bob said he was not surprised to hear from Doug and I reporting on the increasing number of people in the Cambridge area filing for personal bankruptcy and Consumer Proposals. He has witnessed an increasing number of people asking for home valuations on the properties they own as they prepare to either re-finance the mortgage they have to consolidate debts, or to simply try to sell to use the proceeds to clear debts.
On a positive note, he was happy to tell us that the actual number of sales he’s seen in his office has risen in the last month or two. His thoughts on the reasons for this was that with the bank of Canada’s interest rates being so low lately, that this is encouraging a lot of people to try and either get into the market if they are a first time buyer or to upgrade to a larger property with a better new mortgage deal.
We agreed on the opinion that it may be some time yet though before we see a sustained and consistent growth from the market.
If you are thinking of selling your home or need advise on real estate matters in Cambridge, Bob or one of his associates at Team Brown would be happy to talk with you. You can contact his office through the website or by calling (519) 658 1396.
Contact us here at Hoyes Michalos & Associates at 310-PLAN if you wish to discuss your debt situation. We can help people in different situations, whether you’re unable to release equity in your home by refinancing to clear up your debts, or if you cannot afford your current mortgage payments and are worried about the sliding value of real estate, we can work out a plan together.
how's it going me old mucker? - posted on 2 days ago
