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St. John's Newfoundland is one of North America’s oldest cities. Spectacular coastlines, panoramic views, outdoor adventure, rich history and culture await all who live here.

Stephen & Fraser Winters your RE/MAX real estate agents for St. John's. Whether buying, selling or relocating to Newfoundland put the successful Father and Son Realtors to work for you. Fraser and Stephen will show you the smart approach to buying and selling St. John's Real Estate.

Looking to buy a home in St. John’s? Relocating from another city to St. John's? Fraser and Stephen Winters are here to help you! Whether you are buying or selling, take advantage of our free St. John's real estate market reports and access to the St. John's area MLS.

Since Chevron signed the multibillion-dollar memorandum of understanding to develop the Hebron offshore oilfield project back in August 2007, St. John's real estate and surrounding areas have gained favorable optimism and increases in residential homes. Looking to sell you home for TOP DOLLAR? Contact Fraser and Stephen Winters for your free, confidential Home Market Evaluation

This real estate blog is written by Fraser & Stephen Winters. We both are full time successful top producing RE/MAX Realtors in St. John's, Newfoundland. The information contained on this website is from sources believed to be reliable. However, it may be incorrect. This information should not be relied upon without personal verification. We assume no responsibility for its accuracy. This information is not intended to solicit clients already under contract. For more information about us visit our website.
Looking for neighborhoods or school information for a particular street in St. John's or Mount Pearl? We can help you find the right neighborhood by browsing information on schools and property values and much more.

Kirkland Balsom & Associates - Real Estate Market Overview

The fine folks at Kirkland Balsom & Associates just released their Real Estate Market Overview for 2008.

The estimations for growth may vary; nevertheless, the consensus with most local real estate players is that 2008 will be a robust year for residential real estate. Private real estate companies are predicting double digit increases while CHMC projects an increase of 7.6%. Increased job growth, higher personal incomes and continued relatively low interest rates will drive the residential real estate market in 2008. Condominium activity appears to have seen the most growth with an increase in sales activity of approximately 40% from 2006 to 2007. This increase is attributed to a growing demand due to demographics and several new condominium developments offered to the market. While purchasing a condominium for owner occupancy appears to be a wise decision, given the current attainable rents, purchasing as a pure investment is less attractive.
“Newfoundland and Labrador and a consortium led by Chevron have signed a multibillion-dollar memorandum of understanding to develop the Hebron offshore oilfield project in August 2007. Since the announcement the real estate market has spiked with tremendous optimism from buyers betting on increased values in coming years. This “need to buy now” mindset has spurred multiple offers on properties, often at above perceived market value. While demand increases it is even more important not to overpay or offer your property to the market without professional and independent advice.”

Make sure you view the complete Real Estate Market Overview here.

Tags: cmhc, hebron, interest rates, investment, kirkland balsom, real estate