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Summer 2012 Newsletter

Blog by Real Phaneuf, Gary Yip, Ed Weening and Scott Sieppert | August 6th, 2012

August, 2012

Amazing - thirteen years have passed since Lone and I formed our team and next month she and her husband will be relocating to Vancouver Island.   It’s hard to believe that someone would leave our cool summers and cold winters for an island experience!  To celebrate her retirement, we have attached your invitation to our open house on August 24th and are hoping that you will be able to join us in wishing her all the best.

As some doors close, new ones open.  I would like to introduce Megan Davies as my new Associate.  Megan brings with her over seven years of new home sales experience, along with an education and background in marketing and communications.   She looks forward to meeting you and working with you in the future. 

Megan and I hope to install some new and innovative ways to communicate with you in an effort to keep you informed and up to date with events in and around the real estate industry and in reporting how these changes could affect your real estate. 

In current market conditions we are experiencing a couple of interesting trends.  We have noticed increased activity in the inner city housing market and prices for development lots have increased this spring, which in the past has signalled an improving market.  Unfortunately the condominium market continues to lag compared to the rest of the market with only marginal price increases over the first half of the year. 

As for interest rates, with the problems in Europe, it appears that lower rates may persist.  In a low interest rate environment, the Canadian Government has stepped in with a few changes to mortgages.  I believe they have implemented these changes to protect consumers and the banks from overextending credit.  These changes will have some effect on the housing market, but as with past government interventions, the effects only seem to last for a short time while consumers adjust to the new norms. 

Feel free to contact us if you have any questions with respect to the market or the open house for Lone. We look forward to seeing you on August 24th

Real Phaneuf, Realtor Royal Lepage Foothills