Lynne Cooper – In spite of the recession, housing prices have remained fairly stable

With the state of the economy, many people are wondering if this is a good time to become involved in a real estate transaction. Whether you are a home owner thinking of selling, or you are contemplating the purchase of a home, you are sure to have a myriad of questions. It is important that you speak to a REALTOR® who is experienced and familiar with the particular market area you are dealing with.

I am a REALTOR® with First Impressions Real Estate Inc. in Bedford,. I have proudly called Fall River my hometown since 1967. Currently living close to the Halifax Airport, my family enjoys Fall River as our community of choice for friendship and amenities, and we have a heartfelt connection with this beautiful ever expanding village.  My goal is to help Buyers and Sellers better understand Real Estate Matters, in preparation to embracing one of life’s greatest decisions.

Sellers will be pleased to learn that, in spite of the recession, housing prices have remained fairly stable in most areas of HRM and in fact, the Fall River area in general has enjoyed a slight increase in the average sale price this year with the average sale price ringing in at $310,258. The average sale price in 2008 was $311,826. As the year progresses, the number of sales in the area have steadily increased in kind. Throughout the industry, most would say the first few months were unseasonably slow, but as summer heated up sales also continued to climb.  Nova Scotia Association of Realtors boasted 18 successful MLS property transactions for the area in August alone, thereby doubling the nine sales recorded for the same month in 2008.

Buyers shouldn’t despair, the average sale price does not mean a $300,000 home is the only option in our fair village. Fall River currently has a wide range of single family homes with prices ranging from the $160,000’s all the way up to the $1,000,000 mark. There are various lot sizes to choose from, some with water frontage or access, homes close to neighbours or others offering complete privacy. With such a variety to choose from and the low mortgage rates currently being offered by most lenders there is something available to suit everyone and it is the perfect time to make a move.

As an experience REALTOR® I will be offering valuable real estate information, hints and tips on a weekly basis. In future columns, you can expect to learn exciting tidbits covering all different aspects of the real estate industry. I will discuss topics including steps involved in a property transaction, how to prepare your home for sale, what to look for as a buyer, and more; as well as updated information on the real estate market in the Fall River area in general.

Please direct any specific questions or comments, including any topics you would like to see covered herein, to reporter@district2news.com. You will be sure to receive sage advice and accurate information.

LYNNE COOPER has been a REALTOR® since 2002.
Lynne has called the Fall River Area home since 1967 and works for A&H GMAC in the Sobeys Plaza, Fall River, Nova Scotia.
*Statistics are from the Nova Scotia Association of Realtors (NSAR) MLS ® Statistic Report