The Spinner June 2 2022

Treasurer Jackie welcomed all to the meeting before grace was said and the meal served.

The date for the June lobster boil was discussed resulting in the date being changed to Wednesday June 22 at George’s Lake. For any Rotarians wishing to attend who have not already indicated their interest in attending and ordering lobsters, please contact Gerry.

Carol looks after the club FaceBook page. She reminded Rotarians to share new posts with their FaceBook friends, so the activities of the club are shared with others.

 

 The program was presented by Rotarian Carol Anstey. Carol provided an overview on the local real estate market by sharing what was happening in the real estate market on the west coast regarding activity and market values. She gave some insights about what could be expected with possible interest hikes and how different things might happen here from what was happening nationally.

She began by stating the house market in the area is much the same as it was last year. However, the inventory of properties on the market is still low.  In this area buyers are not only local but are coming from other provinces mainly Nova Scotia and Ontario. These out of province buyers tend to be cash buyers.  

During the pandemic years construction materials increased in price and the supply varied and was delayed. Things have eased and the number of new construction projects is slowly increasing.

Carol focused next on the selling of property. She noted the high demand and low property inventory in the area. She does feel the local market will remain stable. She mentioned that properties are receiving multiple offers and can be sold for amounts above the asking price.  She went on to look at the possible interest rate increases and how property sales could be affected. Her final topic covered advice to property sellers.

Carol answered several questions before being thanked on behalf of Rotary by Gerry for her interesting and informative talk.
The meeting adjourned about 1.40pm