“Just back from my family’s annual vacation in Nova Scotia,” writes longtime friend in the States, Bob Fordi (who also happens to be a property developer and real estate pro).
“Had a great time, as always—great kayaking, great bike-riding, great picnicking on the islands… August is the month to be in this part of the world. The weather is sunny, with temperatures in the low-80s, falling to the mid-50s at night. Perfect beach weather, with evening star shows that are truly second to none.
“Like most real estate aficionados on vacation, I was looking at properties by the second week of the trip. The fundamentals of this South Shore Nova Scotia market are compelling. Beautiful scenery, friendly people, and reasonably priced oceanfront real estate. This holds particularly true for Shelburne County, along the southwest coast of the province.
“Plus, this place offers a 1950s summertime lifestyle…with no traffic, safe communities, evening lobster chowder, ice cream cones, and only lightly used beaches. The best part for us has been that, over the 10 years we’ve been visiting here, nothing has changed…
“Well, almost nothing. Property values have changed…in a way that’s worth paying attention to.
“Prices have fallen about 30% in the past couple of years. U.S. buyer traffic has slowed considerably thanks to the strong Canadian dollar and the U.S. debt market implosion of the past year.
“However, there has been a meaningful currency correction…and the U.S. dollar is back in the lead.
“At the same time, the slowing demand means owners who must sell are adjusting their pricing accordingly. Buyers are taking advantage.
“For the American buyer, this is a real window of opportunity.
“Visit Walt MacDonald through his website (www.macdonaldrealestate.ns.ca) to get an idea what’s out there now. I’ve known Walt for close to 10 years. He understands Shelburne County real estate.
“Bottoms are hard to find. It’s worth paying attention when one presents itself.”