2012 in the Abbotsford real estate market brings with it a lot of uncertainty. In 2011 we saw the HST get rejected, interest rates sunk to an all time low, there were new mortgage lending rules and a lot of properties going into foreclosure and the disaster that is the European economy. All of these played havoc with the market here in Abbotsford and much of that will carry over to 2012.
We will likely see mortgage rates dip some more as the bond rates climb. Mortgages are deemed higher risk even though they are mostly insured. Abbotsford home prices will likely dip more in 2012 as the world economy continues to try to right itself. Good investments by purchasing Abbotsford condos and Abbotsford townhomes at the bottom of the market curve. Timing will be key but look for the bottom to be later in 2012.
Abbotsford homes for sale will likely continue to dip. With less developed land to build on and the areas that are developed pushing each others prices down (see Pepin Brook Estates) if you time it right your next home can be purchased for less than if you bought it today. Builders are feeling the pinch and some will be in a position to off load their product as they make monthly payments over time, every month taking more and more out of the profit.
2012 is a great year to be a buyer for Abbotsford real estate. Look for great deals with abbotsford foreclosures. Call me for more information today.