It's been a ridiculously long time since I wrote a blog entry and all I can say is, I dropped the ball!
So, let's get right to the market in Barrie and area. It has been a little crazy. So far since this time last year, we have seen increases of 16-17%! When things quite suddenly started increasing earlier in the year, I personally found myself with buyers competing with 15-20 other offers in a 24 hour period. It was hard for me to wrap my head around, let alone expect my clients to.
Things have settled a little bit, but we still find ourselves in competition with multiple other offers on a regular basis. And the lack of inventory continues to push prices up.
Low interest rates make it affordable for people to still get in the market, however the inevitable increase in rates in the future should be a warning to not bite off more than you can chew! New lending practices will see to it that this happens as buyers will have to qualify for a higher rate now, even though they will get today's rate. It's a little complicated, but they are calling it a 'stress test' and personally, I think it's a really good idea. I would hate to see people lose their homes when their 5 year term is up because they have leveraged themselves so much that they cannot afford a 1 - 2 % interest hike.
On another note, the real estate papers and radio stations are dominated with ads by the massive teams that have developed over the last few years. They are masters of self promotion, that's for sure. I like to call myself a 'house-promoter', not a 'self-promoter', but honestly, a little shameless self promoting is necessary to keep your name on the lips of buyers and sellers.
Despite the 'domination' (I'm being cheeky), there is no doubt a place for people like me in this market. I believe there will be for a long time to come. I'm a hand holder. I sit with my clients, have tea, explain the process, a dozen times if necessary. I'll check and double check and triple check to make sure every detail is taken care of and to make sure you know exactly what is going on. I really like my clients. They keep coming back over the years, so I'm thinking the feeling is mutual.
This business can beat you down sometimes, but the minute I started focusing on my own work, the way I have crafted my business to allow me to help others, make a living and feel good about what I do, is the minute I started enjoying my work. Truly. Sincerely.
This is me, and by working with me, this is what you will get. I'm smart, but kind. I'm empathetic, but not a door mat. I'll have your back, but tell you if your expectations are unrealistic.
That't why I'm writing this post like a letter to friends, colleagues or long time clients. If you want an automated system, don't call me. If you like what you've read however, give me a call.
Before I go, this Chilton is going back to her roots. My name in business will be Rebecca
Van de Worp (my birth name) in the new year. I can't wait!