One of the questions we hear is Whats the market doing? As most of you know our real estate market is like any real estate market. Its always volatile. It goes up and goes down, depending on the season and economic state. Right now we are good. Lots of sales and lots of choice. Last month in Red Deer there were 111 sales of single family homes. Thats just homes, no condos, townhouses or mobiles with an average sale price of $339,495. I was watching the news from Edmonton last night and their report had the average price in Edmonton last month at $374,000. Right now there is 319 active house listings in Red Deer, so roughly about 1 in 3 will sell. Lots of sales, lots of choice and lower prices over the past few years. Over the past two years the range in avg sales price per month has fluctuated from $297,000 to $368,000. there are always reasons why one month might be higher, such as one month we might have 10 houses over $500k sell and the next we have none, so that will always have repercussions on the avg sale price but over time we have seen prices go up. In the past 3 years we have seen the avg sale price go from $308K to $339K with 100 sales in July 2006 to 111 sales this past July. The market is healthy, houses sell that are priced in todays market and are in show condition.
Thinking of buying a house in Red Deer? Now is the time. Prices are stable, interest rates are at a great 4.19% and choice is amazing.
Anywhere in Central Alberta is a wise choice. Always something happening, always somewhere to go in a short drive time.
Thinking of moving? Relocating to Central Alberta? Call Ken Devoe at Century 21 Advantage with any questions you may have.
Cell 403-350-1192
Email - ken.devoe@century21.ca
As most people know there were a lot of house sales in Central Alberta over the past few years. There were ‘bidding wars' over houses because the supply did not match up to the demand. As sales are now back to a normal pace there are fewer multiple offer situations for a sale but they still occur. Houses that are priced right, at a fair market value, or priced below market value are always desirable. These homes are still being bought and are sometimes wanted by more than one family. As a buyer its not a great position to be in but you still have a shot at getting that home. My advice in this situation would be to know your top price you would be willing to pay and make a wise business decision. If you get the home great, if not we find another.
Most people do not know the proper protocol for multiple offers. As soon as the buyer has written an offer on a property the buyers realtor will call the sellers realtors to inform them of the offer. If the sellers realtor is dealing with another offer then he/she must inform all interested parties of all offers. All parties must know that they are in competing offers. This allows all buyers the opportunity to make their best efforts to be the sellers best option. When the sellers realtors receives all offers he/she will sit with his clients and talk about all offers. Price is always one of the top issues but conditions on the sale are always a big hurdle especially if one of the buyers have a home to sell before they can proceed with the purchase of their new home. When the sellers hear all the offers they have a few options.
They can:
Rejecting all offers is never a good thing. I always recommend to my clients to work with the offer that shows the best promise.
Things to keep in mind while you are in this situation.
All parties must know of the multiple offers.
All buyers must know there is another offer on the desired home.
Only the seller knows what each offer contains. The other buyer will not know what your offer is.
Multiple offers is a tough situation to be in as a buyer. As I said go with an offer you are comfortable with and see what happens. Always look out for your best interests and never spend more on a property than what you can afford. If you have any questions about multiple offers please call Ken Devoe at 403-350-1192 or email at ken.devoe@century21.ca .
Thanks for reading.
Hello again, February 2009 was a good month for Red Deer sales, 113 compared to the 62 sales in January 2009. Compared to the 171 sales in February of 2008 we are still considerately lower but we can see consumer interest and confidence is coming back.
A great article come from the Globe and Mail, take a minute to read:
http://business.theglobeandmail.com/servlet/story/RTGAM.20090304.whousing0304/BNStory/Business/home
Spring is coming and so are buyers. Call me to be your new Red Deer Realtor
Its hard to believe 2008 is almost over. Its been a great year for real estate in Central Alberta and for me personally. I would like to thank all my clients, I hope you have the same great memories as I do. I got into this business because I wanted to help people find their dream homes in a stress free environment, to find the right home at a fair price. Personally it was a fantastic year. My wife Kelly and I are starting to work together with her hopefully joining me soon to help with the administration side, our six kids seem to be growing into adulthood and one gave us the most precious gifts a couple can have. Courtlyn was born this year and is the first of hopefully many of our grandkids. She is growing and happy and is Grampa's little doll. Nothing beats watching your own kids being born and growing up but a grandbaby is close. Professionally I had my best year in real estate for sales and most come with fond memories of good people finding their perfect home. I am most proud of the fact that I have helped people who had troubles with other realtors, good people who needed someone to care. I try to be honest and open and it seems to be working. To my past clients thank you, I miss you all and you have all changed me and made me better. To anyone reading this that might be looking for a realtor to help, my promise is to always keep your best interests in mind and help you find a home you can grow in, a house you can love in and most importantly a house that you can afford. Thank you all and have a very Merry Christmas
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