Hot market

Maybe it's just the people I know, but the real estate market in Ottawa definitely seems pretty hot this month. I know of a couple of people that have just bought or are looking to buy and the properties they are looking at are being eaten up rather quickly. Is it time to buy? Is it time to sell?

I like to think that it is time to buy. 5 year rates have recently inched up, but still near record lows, plus, we're expected to have a mild recovery in the economy next year, and home prices had remained steady over the last year. It seems like it's a good time to take advantage of the buying power you may have, and be able to buy when rates are low and prices are about to rise again.

Now, I think a better indicator of the market is the activity the mortgage people are doing. Usually, this is their busy time of the year, but it seems as if there are a lot of deals out there being had. Not only are people buying again, people are upgrading current real estate investments. It seems as if I can hardly get a hold of my mortgage guy these days. I won't need him for awhile, but I am sure he is doing fine these days.