The City of Calgary have mailed out the 2009 property assessments to Calgary home owners on January 2nd, 2009. The city says 33% of the property owners will see an increase in their property assessments over their 2008 assessment.
The average assessed price of a single family home in 2009 is $427,500, down from $447,500 in 2008. Condominiums are also down to $278,500 from $291,500 in 2008. The city base these assessments on the Calgary Real Estate numbers from July 1st, 2008. Assessments reflect the market value of similar properties in neighbourhoods. Search for your property assessment online here
Calgary home owners have until February 2nd, 2009 to review their notices. If there are any discrepancies, home owners can appeal their assessments with the city by going to the City's Website or by calling the Assessment Customer Service Centre at 403.268.2888 or 311 after regular business hours. City of Calgary Assessment information click here.
Some home owners use the City of Calgary assessment to determine the value of their home when they go to sell. Property sellers have to be aware that there are many factors that go into selling a home and one has to compare current active, pending and recent sold properties comparable in size, features, location and current market conditions to determine the value of the property that is going to be sold. Currently there are many properties that are selling considerably below city assessed values so don't rely on the City Assessment values if you are looking to sell or buy Calgary Real Estate.
If you wish to determine the current value of your Calgary property outside of the City of Calgary's Assessment, Click here.
November is here and we have seen a sharp decline in the number of sales in of properties in Metro Calgary (within the Calgary city limits) in the month of October, 2008. We had only 820 Single Family Sales for October and our Active Single Family Listing count was at just over 5,500.
This translates to 1 in 7 houses are selling in the current market!! November's statistics will be very similar to Octobers sales numbers.
So if ONE in SEVEN Houses are selling, what houses are getting their SOLD sign on their front lawn?
Well, they are the properties that are the most desirable. They have the right combination of Features, Location and they have the right price for the current market. The right price in the current market is the price that will be BELOW the market value as today's Buyer's cannot resist a GOOD DEAL. These are the properties that are selling and some of them are selling quick.
It is a market where you have do more than price your home competitive with other homes in their community. They have to be priced below the competition, this will make buyers notice the value you are offering.
It is best to have the right price out of the gate rather than pricing your property high and then trying to chase the market by dropping your price. Statistics show that when you price your home 10-15% below the market value you will get a greater percentage of potential buyers who will look at your property.
Timing is also VERY important in the Real Estate Market. The importance of placing your property on the market at a REALISTIC PRICE and terms from the very beginning. A property attracts the MOST EXCITEMENT and INTEREST from the real estate community and potential buyers when it is first listed; therefore it has the highest chance of selling when it is new on the market.
Now is a time when sellers require the assistance of an experiences and professional Realtor. They need someone that understands the market and what it takes to help you get your property sold.
It is important that your Realtor educates you on the current market so you can make an educated decision to get the Results you want. Do not hire an agent if he gives you the highest price, chances are that you will set yourself up for disappointments and failures. Hire an agent that tells you the truth and presents you will ALL the FACTS. The truth may be hard to hear but as long as you can remove your emotional attachment, you will be able to make the best decision based on the facts.
Just remember that only 1 in 7 properties are Selling in the current Calgary Real Estate Market.
Feel free to visit my Seller site that serves Calgary & the surrounding cities. You can instantly determine your Calgary House Values in minutes and receive weekly market updates of sales in your community.
Visit one or all of my websites for the Calgary Real Estate Market: http://www.JustinHavre.com http://www.JustListedCalgary.ca http://www.CalgaryPropertyValues.ca
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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