Tomorrow's Real Estate News 2024

If you could read tomorrow's paper, would you want to know the news? 📰

What's coming? 🤔

My name is Greg Hamre from RE/MAX Affiliates in Ottawa and the Hamre Real Estate Team. 👋

And we really dive into the real estate market here in Ottawa. 🏡

It's not a hobby for us. It's our passion and our profession. 💼

What we really want to tell people right now is this may be the lowest price on housing that you're gonna see for the next decade and, and that seems shocking. 😮

But if you could buy now we have availabilities for some great work rates and hold on to that payment and get through the next six months, so much further ahead than your neighbors. 💰

And we're not making this up, interest rates are expected to come down. 📉

We just met with Benjamin Tal, the leading financial economist with CIBC and he said, Greg, they're going to start to come down in June of this year. 🗓️

We've got about another three or four months of a little bit of turbulence, then they're gonna start to come down and when they come down, they're gonna come down a lot. 💨

CMHC, the Canadian Mortgage and Housing Association has pointed out that they'll come down to 4.5 to 3.5. 🏠

Now, we're hearing that by 2025 we'll be in the 2.75 range here. 📉

Again, it's election year. The government's going to want it, the economy to be sporty. 🗳️

A little more aggressive on it and it'll really make housing that much more affordable and that'll be headline news and great for everybody. 🎉

Affordability is really what's keeping buyers sidelines right now. 🛑

Once that comes back in, I think we're gonna see a little movement, upsizing downsizing people moving laterally, people will be back engaged in the market in a bigger way. 🔄

But right now, my advice is run to the fire, take advantage of what's there today. 🏃‍♂️

Pricing is very attractive because when interest rates come down, competition increases, more buyers come into the market that usually happens in the spring market anyways. 💰

But with low rich rates, there'll be more competition, less leverage for buyers, more leverage for sellers and and hopefully selection increases as well as we definitely have a housing shortage here in Ottawa, let alone our nation. 🏠

Nice listings are selling quickly. 🏃‍♀️

Those that are turnkey. And the reason for that is buyers are fussier today. 🛠️

They don't have extra money to do renovations, so they're looking for that just move in type of product. 🏡

If you're a seller, we can help you prepare your and get it ready as well to make sure that it appeals to more buyers, not just emotionally but financially as well. 💼

We pride ourselves in staying in front of the market, being leaders in the industry and making sure that our clients have all the information they need to make a good purchasing or indoor selling decision. 📊

My name is Greg Hamre from RE/MAX Affiliates and the Hamre Real Estate Team. 👋

If we can be of assistance to you, please reach out to us. 📞

I hope to see you soon. Take care. 👋

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