Market Report September 2008

Buying

The market is cooling of quite a bit as we speak.

The prices keep coming down and most offers are under the asking price. Housing market in town is under pressure. More houses are listed then selling. Condominiums are the biggest risk as there will be lots coming and not enough selling. Watch this fall and winter for drops in this market.

Outside of the city’s you see more acreages coming, and not a lot selling. Most of them are still priced as if we were in a sellers market. Prices do not reflect real value. When looking for an acreage it’s good to get current infos about what sold lately.

Commercial buildings are build, but the market can’t absorb all of it. Land development is the same way.

When you are in the market and can hold off for a bit it could be worth wile. It will be a changing market and nobody can predict the future, but all signs are pointing towards lower prices.

For information regarding buying in today’s market we would encourage you to give us a call. You can reach us at 1-403-318-2252 (direct line).


Selling

When you are planning to sell your property it is all about timing and pricing. You can try it with a "For sale by owner" or with a lawn sign. What is more important than the signs is information. The market is cooling down and banks want more security. The buyers are aware of the options and will demand real value for their money. Pricing over value is an absolute no in our opinion. Even 5% can put you out of the market. Go and shop for a house to compare it with your own. Believing that your property is the best is good, but your buyer has to see this too.

Independent advice is the key.

What is the realistic price of your property?
Who is your competition in the market? (What is more for sale in the same category)?
What is your buyer thinking about your property?

 

We will give you the information you need, not information you like to hear.
You can give us a call, without obligations!
Call: 1-403-318-2252 (direct line)