I've been trying to follow the trends in the real estate market and come up with my own ideas of what has been happening:
- the recession is taking its toll on the re-sale homes market dropping every month since the start of the year.
- new homes prices aren't expected to suffer as much due to drops in borrowing rates
So with those two points we see Mattamy is offering discounted prices in various communities including Newmarket, Cambridge, etc. Does this show that the new homes market is probably on the same course as the re-sale market? I'd say yes...the past few years you wouldn't find Mattamy discounting many homes save for a few closeout lots...so now we have the #1 discounting lots around $10k and probably a bunch of bonus dollars for upgrades with sign-on.
Does that put us in a good place come grand opening? Will we be seeing incentives from the get-go considering they have to get this whole project off its feet?
Are we buying at the right/wrong time only to lose money on our investment?
Stay Tuned!
*note: I have no experience in the whole real estate business/market, etc. so none of what I say can be taken as gospel but feel free to add a comment if you have some insight into the market and where its going!!
p.s. I'm out of the country till the 22nd so if there are any updates that I may be missing out on please post up a comment!! Keep me in the loop!
