Frankie’s Fredericton

All the predictions, if the economists and financial folks can be believed, are that 2009 will be a slow year in real estate. This information will translate into a “buy” signal for many, that is, they will interpret that as a “buyers market”. This does not mean it is a bad time to sell, it just means you have to be more aggressive, more in tune with the market you are in, and it is important to have the right “team” to effectively sell your house.

Secondly, because of the economic downturn globally, mortgage rates have dropped. Prime will be at 3.5% effective January 1st. 2009. Mortgage rates for a 5 year term are at less than 5%. Buyers will be getting locked in with a good rate early in 2009 and proceed to buy their dream home, will yours be on the market?

Consumer confidence will return in 2009 because of renewed faith in both US and Canadian governments. Finally someone at the helm in the United States and at last some accountabllity and a strong opposition in Canada. Citizens of both countries are looking forward to some leadership and fiscal responsibility in 2009.

New Brunswick will benefit from some of the economic difficulities in the manufactoring sector in Central Canada. Many baby boomers will decide to sell out and move back home where the living is easy and the severence pay will go farther.

A reliable source has indicated that there will be a significant increase in the number of postings at CFB Gagetown in 2009. This will translate into more buyers. Military families love New Maryland, Lincoln and Hanwell, to name a few, so if you are contemplating a move, call me today for a free estimate of value on your home and professional advice on how to make it sell.

Frankie Gillespie 506-476-2155