Black September 2008
All things go up and down. The stock market is in such a state of panic that real estate is sitting. The good news is that the sky is not falling. Your house will keep standing.
The smart buyers are shopping for deals in this low in the market. They are looking for the sellers who are in panic mode and selling at extremely low prices.
If markets never came down everyone would speculate for ever. There would be no risk. Why would anyone build a car plant, do scientific research or drill an oil well. It would be to easy just to buy homes and watch them go up forever.
This is normal that markets go up and then go down, do not panic. Unless you have to sell, hang on. I really do not care what my house is worth, it is not for sale. You only actually take a loss if you sell low. If you are not selling and do not have to I would recommend ride this down turn out.
The reason I have always like big houses is that my mother, who lived through the depression taught me that every room can produce revenue. If you are tight for cash bring in a roommate, border, room for let, B&B, etc..
If your are looking for a deal on Salt Spring give me a call. There are some great deals. I really do feel bad for the poor sellers that are in over their head and have to sell.
Not so cheery