Real Estate Minute with Steve-Segment 1

  Tuesday, May 30, 2023

Segment 1: Current inventory up 7% since May 15th to 12561 units and sales decline 35% in the same period to 1174 from 1830. Were started to notice a lack of appointments on our listings and a few properties sitting and not selling. Were adjusting prices to meet the buyers to receive offers currently, bidding wars tapered off this can be due to the spring market officially ended and were heading into the summer months. Bank of Canada will meet in July expect an increase in the policy rate .25 -.50%. (Inflation needs to be curved) If your starting your search make sure to lock in your Pre Qualify rates prior to July.

 

Segment 2: The future of Commercial Real Estate in the core!!!!! I need to find my video Fram March 2020 when I mentioned that repurposing these buildings can solve 2 problems one the vacancy of the building and two the shortage of homes in the city. In 2017 I invested in a Reit in Miami, that this theory of the project was create a vertical city which hedges the risk on all potential vacancies.

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