With all the turmoil in the markets it is important to keep in mind that we have encountered blips in the market before, but eventually things always settle back to where the market needs to be. And prices will once again surpass previous years' highs.  

My parent's first home was a triplex townhouse in Outremont, Montreal.  As Greek immigrants in the 1950s, my parents and two uncles purchased it together, rented out all levels plus the basement, while they themsleves  lived in rental accommodations elsewhere.  A short while later my parents and one of my uncles moved into the basement flat and continued to rent out the 3 upper flats.  Eventually our family moved upstairs to the main floor level while renting out the other 3 flats.  My uncles moved out and purchased other investment properties.  They all knew --then like now-- that real estate is always a great investment.  The buildings may depreciate, but land always goes up in value. Which is why today as a realtor, I firmly believe in the realtor's motto of "location, location, location."    

According to the Oakville Real estate board MLS statistics January to October, the number of homes sold in Oakville has decreased by 16.6%; and prices have dropped on average 14.73% this October over last.  By comparison, the Toronto market, according to TREB stats, has dropped 35% in October 2008 vs 2007.  This is a great time to be buying.  Whether trading up, buying a first home, or purchasing an investment property, the shrewd buyers are still buying.  There are some great deals to be had, and buyers today can afford to be pickier and demand more.  Real estate remains the safest bet... 

for a breakdown of Oakville subdistrict statistics click here!