Sherry Zwetsloot Reviewed By Gabriel on 2024-03-11

Hard sell Green-Space. Property would require some work to be able to build. Only had 1 offer that was approx 25% less than asking. Would consider selling if market picks up.

Reply: Hello Gabriel. Yes, the market in 2023 was a difficult one with bank rates at a high point and variable rates still rising. Finding lenders for raw land is difficult especially without a VTB opportunity. However, in the current market the fixed rates are dropping slowly while variable rates continue to climb. This means buyers may once again find lending approval now where they may not have 8 - 10 months ago. Your piece of real estate is a unique one and the right buyer is out there. Let's revisit this in the early summer when the Bank OF Canada announces the next lending rate. I am sure at that point the market will bring a solid return for you. Trust it will work out. :)