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So, while everyone has been hearing all about all of the news about the sub-prime lending industries financial difficulties, what does it really mean? The sub-prime mortgage industry are who has been lending money to people with credit difficulties for the last 15 or more years. Unfortunately, they've been lending recklessly in a very competitive market, and as a result, they've practically all gone out of business do to defaults. Since people with poor credit make up about 40% of the real estate market over the last decade, now that they are unable to get loans for even Cheap Property, the market will probably slow considerably.

What does that mean to you? Well, if you are looking to purchase a new home, and you have some credit difficulties, it's going to be ALOT harder to get a loan. If you are looking to purchase a new home and have good credit, it means you'll probably be asked to make a considerable down payment, to minimize the risk to the lender. If you are looking to sell your home, don't expect the offers to come rolling in during the first week it's on the market, like we have gotten used to over the last few year. And, if you are a real estate agent, you'd be well advised to make sure you use all resources and media available to you, including real estate agents forum, radio and magazine advertising, handouts and more, to try to find buyers.

Sitting on the world's second largest natural harbor, Halifax, Nova Scotia has flourished as a prominent port filled with culture and heritage. Nicknamed the 'Gateway to Atlantic Canada', Greater Halifax offers a wide variety of housing choices ranging from urban to rural, from condos to single family homes. The average selling price for Halifax Real Estate in 2006 was around $300,000, making it one of the more inexpensive locations to buy a home in Canada.

Nova Scotia in general is a perfect place for retirement. Oceanfront and lakeside lots with several acres of land can be had for under $100,000, making coastal properties amount the lowest in all of North America. It offers a very low cost of living an in unspoiled natural environment. Right now is the perfect time to invest in Nova Scotia real estate, or purchase a Nova Scotia FSBO property before the mainstream media lets everyone in on Canada's little secret.