House hunters: Top 5 real estate tips for 2012

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Rather than suffering a crash, Canada’s real estate market has been barrelling ahead. Find out what this means for buyers…

Jan 23, 2012

While stories south of the border speak to an ongoing real estate crisis, where foreclosed homes descend into disrepair, and neighbourhoods are reclaimed by weeds and wanderers, the story in Canada has been much different. Rather than suffering a crash, Canada’s real estate market has been barrelling ahead. Does this mean we’re headed for the same dramatic bubble and bust the U.S. – and many other countries – have recently experienced? Mortgage experts say probably not, suggesting that while Canadian real estate prices are probably over-valued, the overall economic climate suggests they are more likely to plateau than plunge.

In 2012, the real estate market is shaping up to be unique in a few key ways. This means that as with any market, it won’t benefit everyone. Here’s how new homebuyers and current home owners can make the best of what it has to offer.

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