Agent says some buyers are delaying purchases in anticipation of possible fixes
Seven years later, they found themselves on the right side of a hot housing market, with values tripling in a ‘hood suddenly considered up-and-coming for young families seeking detached homes.
They recently sold that renovated three-bedroom for more than $1 million and now expect to live mortgage-free in a four-bedroom purchase in their hometown of Ottawa.
The 34-year-old says it made sense to cash out of a city that was draining their finances, energy and family time.
“My husband and I saw an opportunity to take advantage of the recent gains in real estate and to move to a less expensive city to live mortgage-free, support our savings for retirement and also to be closer to family,” says Blakely, whose new home has nearly twice the square footage.
And they may have taken action at just the right time.
Blakely’s real estate agent Josie Stern says the market appears to be cooling, and doubts Blakely could fetch that same jackpot sale today.
“A little bit of air has been let out of the bubble,” she says.
…click on the above link to read the rest of the article…