Realestock Blog

Luxury real estate sales in Canada are soaring, breaking pre-recession sales records as buyers are capitalizing on low interest rates and increasing economic confidence.
RE/MAX released its first quarter Upper End 2010 Report on Monday, showing a marked increase in luxury home sales in markets across Canada. The report noted that, "Canada's sound banking system, political stability, and strong dollar are attracting foreign investment -- and that is spilling over into high-end residential real estate.”

According to Wayne Schrader, a RE/MAX Broker/Owner and specialist in luxury properties on Vancouver Island, consumer confidence is playing a big part in the rallying sales.
“Markets are picking up and turning the corner,” said Schrader. “People are realizing the big recession didn’t materialize in Canada, and at the same time, prices have come down and are much more attractive.”
The Conference board of Canada echoes Schrader’s sentiments - its economic forecasts predict the Canadian economy will grow at a healthy 3.2% in 2010. An upswing in the economy makes the current market conditions even more attractive, as buyers take advantage of the current low interest rates, noted Schrader.
But why have sales increases have been so sharp, in some cases bettering years that were fueled by the white-hot real estate markets of the time? According to Schrader, and the report, they key is balance.
High end property prices have softened from their previous peaks explained Schrader, which can make luxury real estate look like a better investment for some buyers.
“Ample opportunity and a good selection of product exists, and savvy purchasers are taking advantage of favourable conditions,” said the report.
According to the Elton Ash, Regional Executive Vice-President of RE/MAX in Western Canada. the luxury “segment of the market was hardest hit when the recession took hold, yet its comeback has been fast and furious.”
Comparative sales figures back up Ash’s statements. In the first quarter of 2009, high end property sales had slumped - only 411 properties classified as “upper end” were sold by RE/MAX across Canada. This year, the number has leapt to 1,111 - an increase of more than 170%.  Comparing that to 2008’s first quarter sales of 894 high end properties shows overall sales in Canada are still up almost 24% over pre-recession numbers.

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On April 28^th and 29^th, 2010 in New York City, CMAEON’s CEO and Founder, Tim Vasko will be speaking at the REMarTech (Real Estate Marketing & Technology Academy) event on online marketing, named ‘Is Social Media a Fad?’

The ReMarTech is a two-day conference with eighteen workshops, focusing on online listings and “virtual office websites”, lead generation, email and mobile marketing, online video and viral marketing, publicity and PR, the Facebook Marketplace and much more!

Tim will be leading two innovative workshops on Website Design-Web Portal Magic and Social Conversation Lead Generation. His workshop on website design focuses on how to create buyer relationships through web content tools, understanding connected media and how to drive buyers to your website and how to create a successful web presence strategy.

Tim’s workshop on lead generation will take participants on a journey to discover new ways to practice online lead generation. Topics that will be covered include: how to find, qualify and convert leads, how to become part of the natural social conversation and how to inspire word of mouth online.

Speaking from his experiences running CMAEON® and Realestock, Tim will address key issues in lead generation and website design facing today’s marketplace to help participants discover how to rank higher on Google and create updated content to engage and attract buyers.

Other speakers at the event include Ross Anderson, President/Owner of nylmedia and NewYorkLuxury.com, Sarah Bonert, Director of Broker Services, Zillow and Kelly Roark, VP of Interactive Sales and Development from HGTV/Scripps Network.

For more information on Tim’s workshops or to register for the event, please check out Real Estate Marketing and Technology Academy at http://greenpearlevents.com/remartech/.

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