The time is right for certain home buyers.
If you’re trying to sell your house it’s obviously not a good time.
But for buyers it’s a different story.
Dennis Herman of Remax Grey Bruce says the last four years have been great for the real estate market and obviously 2009 isn’t going to be as successful.
He says however its a great time for buyers especially those buying ‘up’ or those purchasing second properties.
Herman says you always upgrade in a ‘down’ market.
He says it appears as if many people are waiting to see if the prices go down further in the spring and he admits they may, they may not.
Herman says they’ve been getting a lot of hits on the Remax website and showing a lot of properties and some have even gone for full asking price in a bidding war.
Herman tells Bayshore Broadcasting News in the more than three decades his family’s been in real estate they’ve never seen the market hit rock bottom like it did in September.
He says usually there’s a gradual decline during a recession.
Herman predicts things will start to improve next year and by 2011 things will be going great again.
