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Larry Estabrooks, Moncton Real Estate

What's in your Credentials?

By credentials I mean professional credentials. Even though real estate professionals may be licensed by a government agency, there are wide variances in post licensing training and opportunities to accumulate credentials.

Throughout North America the real estate profession recognizes many special designations and continuing professional education courses.

Some licensees question if consumers fully appreciate the value of professional credentials. That is a difficult question to answer. All I can say is that when I am considering engaging the services of a licensed professional (plumber, electrician, appraiser, surveyor, accountant, lawyer, mechanic, civil engineer, et cetera), I always ask about their credentials.

Before selecting their real estate professional prudent consumers should inquire as to an individual's professional credentials. Real estate professionals should proudly display their credentials wherever possible, including their active|rain profile.

Happy New Year Moncton - 2008 Wasn't All That Bad For Our Housing Market

It's New Years day and Moncton and southeast New Brunswick are under a blizzard warning:

4:51 AM AST Thursday 1 January 2009
Blizzard warning for Moncton and southeast New Brunswick continued
Blizzard conditions over southeastern New Brunswick today
moncton

Looking back at 2008 our area missed most of the blizzard of double digit negative numbers posted by the residential housing market in other Canadian centres.

In fact, we finished the year on a postive note as the number and value of sales reported to the Greater Moncton Board in December of 2008 was almost identical to December of both 2007 and 2006.

The final numbers for 2008 show:

  • Residential unit sales were down just 6.6% from 2007 (and up 3.9% from 2006).
  • The average sale price of all residential sales rose just over 2% above the 2007 average sale price.

So what's in store for the Moncton area real estate market in 2009?
My predictions are here ...

Moncton's Tax Base Largest in New Brunswick

Figures released by the Province of New Brunswick indicate that once again Moncton edged out Saint John as the provincial municipality with the largest property assessment base. Fredericton is in third place.

Since last year Moncton's assessment base grew by 7.9% to just over 5 1/2 billion dollars.

The full news release is here: http://www.gnb.ca/cnb/news/gl/2008e1746gl.htm

Moncton - Our Tide is Rising

October Market Report for Saint John

Upon reviewing the MLS® report for October published by the Canadian Real Estate Association it seems the Saint John area residential real estate market may be moving towards a buyer's market.

October residential MLS® unit sales were down 14.7% from October 2007 and have brought the year-to-date total down by 1.5%. The average sale price was up 6.9 % for October in contrast to the 12.8% increase recorded year-to-date. New listings year-to-date are up 4.6% over 2007.

In New Brunswick residential MLS® unit sales were down 19.7% while Canada recorded 27% fewer residential MLS® unit sales than in October 2007.

Ominous October MLS® Report

Upon reviewing the MLS® report for October published by the Canadian Real Estate Association it seems the Fredericton area residential real estate market may be moving towards a buyer's market.

October residential MLS® unit sales were down 36.5% from October 2007. This contrasts to the 11.3% reduction in the average sale price year-to-date in the Fredericton area.

Residential dollar volume was down 31.7 % resulting in an increase in the average sale price of 7.6% for October. This last number is consistent with the average price increase of 8.5% year-to-date for the Fredericton area.

In comparison, residential MLS® unit sales in New Brunswick were down 19.7% while Canada recorded 27% fewer residential MLS® unit sales than in October 2007.