Since summer is the slowest time of year for real estate, it was the perfect opportunity to promote and get the restaurant organized. It is now sufficiently set up to operate without my being there on a regular basis, allowing my focus, time and attention to be on real estate, taking care of your needs and anyone you might refer to me. I currently have time to work with three new clients.
As most of you know, in December of 2005, I invested in a new condominium development in Panama, which is now slated for completion at some point in early spring, 2007. In addition to this, I have recently been in communication with a local realtor in Panama who has asked me to be the Toronto representative to help promote a large new development to be built 15 minutes from Panama City. So far, from what I have learned about this development, it appears to be a good investment opportunity. I will know more within the next few months. If you would like to be kept posted on this project, please let me know.
This summer, Toronto showed some signs of a softening real estate market, due mostly to a lack of good saleable properties on the market and the fact that many people were away on vacation, creating less competition amongst active buyers. Still, in some cases, bidding wars existed through the summer and will likely continue into the fall. The mortgage rates will likely be sustained or slightly dip over the next few quarters as the government strives to protect our economy from any severe damage. The major cities of the U.S. have experienced a much stronger decline in their real estate economy of late, but it is unlikely that our markets will be affected to the same degree since our incline in real estate values has not been nearly as extreme throughout this cycle.
In many ways, fall is one of my favorite times of year, mostly because of the beautiful colors and perfect running weather it brings. May you experience the beauty of this coming season.
All the best!
Michelle Read
Sorry, comments are closed for this post.