Bob Aishford

Median price is deemed to be a more accurate market indicator than average price because of steep price fluctuations that sometime exist within market segments and thus can distort calculated averages.

BUYER’S MARKET!!

Great opportunities are available for those who are ready to purchase.

Again we see some positive movement Just the number of sales is a very small positive sign. In total we had 15 for March of this year, 18 for April and 24 for May. Last year we had a total of 25 sales for the month of May. We are starting to see a few more single family homes sales these past few months, especially in the lower end market below $700,000. I would think that buyers are taking advantage of the excellent low, long term mortgage rates.

The momentum continues … but very slowly

The number of days a property is on the market is also a good indicator of where the market is. Last month we see both single family and the non single family market have shorter days on the market that the previous month.

Interest rates are on the rise

This past week saw the 5 year fixed mortgage rates jump almost a quarter of a percent. Don’t wait to long to lock in a mortgage rate. Some lenders will guarantee their rates for up to 120 days.

Wait and see buyer’s may miss out on deals

Mortgage rates continue to remain very favorable for all purchasers. Whether you are a first time buyer or a seasoned veteran looking for an investment or vacation property the lending rates have never been better. Again I remind you that Wait and See Buyers May Miss Out on Deals. If your “financial house” is in order, now might be the best time to look at investing in Canmore real estate.

I have over 25 years or real estate experience

More than ever both buyers and sellers need an experienced agent. With my 25 years of experience I have seen several different market conditions. As a seller you need to price your property very much in line or slightly below were similar properties are selling. Don’t get caught thinking you can reduce your asking price after a few weeks. You need to be aggressive if you really want to sell! As a buyer, you need an agent that is a good negotiator. An agent that can provide the market history and defend your offering position when it is time to present your offer.

GIVE ME A CALL OR DROP ME AN EMAIL. I HAVE THE EXPERIENCE!!

What are your plans for long time recreation property??

DON’T WAIT TO LONG TO TAKE ADVANTAGE OF THIS BUYER’S MARKET!!

If you would like to be kept up to date on the value of your Canmore investment, or just wanting to know what is happening in a particular area of town –just send me an email or give me a call.

Bob Aishford

403-678-1069

Median price is deemed to be a more accurate market indicator than average price because of steep price fluctuations that sometime exist within market segments and thus can distort calculated averages.

February continues with New Year momentum

Over the past 3 months the number of sales each month has increased. Not large numbers by any means, but a total of 14 sales in February is better than 10 in January.

We see a large increase in the median sale price in both the single family sales data and the non single family data. The non single family data seems to be more in line with a realistic whereas the single family data based on only 4 sales shows a significant increase over the prior month. Three of the four single family sales where well over a million dollars as this segment of the market continues to perform quite nicely.

Days on the market are still quite high in both market segments as sellers continue to adjust their asking prices in order to attract a buyer’s offer… “Well priced homes will bring ready buyers.”

Inventories still remain high

The number of active listings has dropped almost 10% from this time one month ago. March is generally a busy month for sales so it will be interesting to see if buyers start to “step up” and make the purchases they have been contemplating.

Mortgage rates continue to remain very favorable for all purchasers. Whether you are a first time buyer or a seasoned veteran looking for an investment or vacation property the lending rates have never been better.

Again I remind you that Wait and See Buyers May Miss Out on Deals. If your “financial house” is in order, now might be the best time to look at investing in Canmore real estate.


I HAVE OVER 25 YEARS OF REAL ESTATE EXPERIENCE.

More than ever both buyers and sellers need an experienced agent. With my 25 years of experience I have seen several different market conditions. As a seller you need to price your property very much in line or slightly below were similar properties are selling. Don’t get caught thinking you can reduce your asking price after a few weeks. You need to be aggressive if you really want to sell!

As a buyer, you need an agent that is a good negotiator. An agent that can provide the market history and defend your offering position when it is time to present your offer.

GIVE ME A CALL OR DROP ME AN EMAIL. I HAVE THE EXPERIENCE!!


What are your plans for long time recreation property??


DON’T WAIT TO LONG TO TAKE ADVANTAGE OF THIS BUYER’S MARKET!!

If you would like to be kept up to date on the value of your Canmore investment, or just wanting to know what is happening in a particular area of town – just send me an email or give me a call.

Now that we are well into the 2009 year, there really should not be any surprises. What I mean is the economy is what it is, "markets" are what they are and it's up to all of us to move forward.

You will see from my March Market Update Chart that the number of sales this past month in Canmore is up for the third consecutive month. This is good. You will also notice that our banking system has lowered their prime lending rate by ½% earlier this week - with the new prime being 2.5. This in turn means lower mortgage rates.

Read the article titled Worthwhile Canadian Initiatives for an interesting account on our Canadian banking system.

Get out your calculator

Let's do some math using my Feature Listing at #6, 137 Wapiti Close. The asking price now is down 8.5% from what the highest ridge unit in this complex sold for 10 months ago. That is close to $80,000. If you are an American buyer looking for a safe haven to invest in and also enjoy the many activities and amenities that a mountain community offers - then you can save an additional 20% because your exchange rate is also much higher than it was a year ago.

Think about it! That's well below $700,000 USD for a Canmore townhouse unit in a pristine location only an hour from Calgary's international airport.

Pay attention

Each month I feature two properties that are not my listings but are available on our MLS system. In other words I consider these properties to be of great value, maybe in a location that seldom comes on the market or just that the sellers are motivated.

Last month I mentioned a new custom built downtown home. The asking price was originally $2.1 million. It sold for $1.555 million. Over a half million dollars difference!

SOUTH CANMORE LOACTION

One of Canmore's builder's - Elk Run Custom Homes has asked for my help in marketing their current project.

This 11 town home development is located only 3 blocks from the Bow River and has some of the highest levels of construction and finishing's as well as the latest in Build Green Technologies.

There are still 8 units left with a variety of layouts, sizes and pricing from $328,500 + GST to $798,500 + GST. The developer has reduced prices on most of the units by over $100,000 and now also included furniture.

Relax and enjoy

A former client and good friend send me the You Tube link "Stand By Me." Give it a listen and think.

The message is simple ...

No matter who you are
No matter where you go if life
At some point you are going to need somebody
To stand by You

It was time to say goodbye

Thanks to everyone that "stood by" my wife and I this past month or so.

About 10 days ago we decided to say goodbye to our long time family member TC. I have never had a dog as a pet before so the decision was very hard.

The attached picture shows TC sunning on our back deck. We discovered over the last couple of weeks that the only way we could even get a nap was to lay TC on the deck in the sun with a blanket on him. I snuck around to take a few last pictures as he slept and he lifted his head as I took this shot.


Have a wonderful month.

	APRIL	Median	MARCH
	Sale	Prices
	2008	2007	2008
Single Family Stats	$712,000	$775,000	$705,000
Units Sold	9	16	11
Days on Market	107	27	63
+/- over last year/month		- 8.13%	+ 0.01%
Non single family	$485,000	$505,000	$513,000
Units Sold	25	31	23
Days on Market	54	38	41
+/- over last year/month		- 3.96 %	-5.46 %

This past month saw the median single family house prices almost remain the same as March, but

down over 8% from the same time last year. Non single family house prices have slipped a little

since last year and down 5.5% from last month. The number of sales in each category has

remained almost the same as last year, but down from 2007.

As I have said in past newsletters, Canmore real estate will continue to be a good investment. We

are only experiencing a slight adjustment, something we have not seen over the past several

years. If you are considering purchasing a property in Canmore, then this might be the perfect

time.

If you would like to be kept up to date on the value of your Canmore

investment, or just wanting to know what is happening in a particular

area of town - just send me an email or give me a call.

Median price is deemed to be a more accurate market indicator than average price because of

steep price fluctuations that sometime exist within market segments and thus can distort

calculated averages.

Going into our fourth month of the 2008 year, we all start to get a more certain felling as to how this year will "play out" for us. What I mean is, we should be getting over the "winter blues" and any preconceived ideas or notions we might have had.

Our provincial election came and past in mid March. The ruling party was elected again for the 36^th year. Some people have said, "It is better to sleep with the devil you know, rather than the devil you do not know." No surprises here.

The Canadian dollar has levelled out in the high 90 cent range compared to the US dollar. We all knew it could not keep up close to the $1.10 mark. We are have adjusted to the lower 5% GST by now. So where am I going with these thoughts.

I strongly believe that a real estate asset will outperform a lot of other "conventional" and secure investments. I am seeing some of our larger and respected builders adjusting their offering prices for newly constructed units. With possession dates sometimes being 18 months "down the road," this might be a good time to look at some of the options offered by these local builders. Please contact me if you would like more information on any products offered by our local builders. I do my best to keep up to date with new products, new developments in the area and changing styles.

Here are a few quick links for you:

The first is a quick link to Canada's number one real estate site for the general public - the following link will take you directly to all of the MLS properties in Canmore MLS.ca. This is a great place to start your search for Canmore real estate whether you are a buyer or seller. Of course my name will not be on all the properties that are for sale, but these are all co-operative listings and I am able to introduce you to these listings, send you more details and eventually represent you as you agent/associate should you decide to make a purchase. My twenty plus years of experience will be an advantage to you during any negotiations.

The second link is My Real Estate Choices for this Month. This month I have chosen two homes that will appeal to different buyer profiles.

Home #1 Home #2

For more information on these or any other Canmore Real Estate email me at Bob@BobAishford.com or visit my website at www.BobAishford.com .