If you use the web as much as I do you're looking at new content daily and implementing what you see, read, and hear into your life on a daily basis.

Being committed to internet as a tool for marketing propeties and informing buyers and sellers is a priority for me.

Feel free to look at the following endeavors and see some examples of the services availabel to all my clients.

• My Century Web, there you can search all my listings and Century 21 Listings with emphasis on photos.
• You Tube Channel
• Blogging and more Blogging, providing real estate information and community information for buyers and selelrs.
• Virtual Tours
• Full MLS Search
• Facebook

Thanks for your feedback and support, and I look forward to providing more and learning more.

Your Friend in Real Estate,

Patrick Galesloot

MLS Stats: More listings available for buyers to look at. A common question we hear today is can I write an offer subject to the sale of my home? More often the answer is yes. While this may not be an acceptable term in an offer for every seller it is quite common. The Red Deer market place is such that buyers can find the house that they really want and trade up. A contrast to 2006 and part of 2007 where buyers "dream homes" were scarce and they had to settle for a home that may not have met all their needs. Today you can find a better fit if so needed.

January 1, to July 1, 2008. Red Deer New Listings: 2174

January 1, to July 1, 2007. New Listings: 1786 a 21.72% Increase.

While it is considered to be a buyers market, sales do happen and are quite strong. Below the record levels of 2007 but above or on par with those seen in 2006. 2008 is a still a good year for selling in Red Deer.

Red Deer MLS Sales January 1 - July 1

2008, 1092 listings Sold

2007, 1342 listings sold, a decrease of 18.63%

Shopping around for a Realtor? A busy office is often the better choice. A busy office has agents working with buyers and sellers and despite a slow down they remain focused and attentive. Century 21 Advantage has been focused on ensuring their agents are knowledgeable and informed to help you through the selling process. Century 21 Advantage MLS residential (all areas): Listings YTD 2007: 312 listings Listings YTD 2008: 440 listings a 41% Increase Sales (Listings Sold) YTD 2007: 348 Sales (Listings Sold) YTD 2008: 362 a 4% increase.

For a real estate consultation feel free to schedule an appointment at your convenience through our office at 403-346-0021.

Your Friend in Real Estate,

Patrick Galesloot

May 2008, Statistic Analysis

The RDDREB (Red Deer Real Estate Board) has released the stats for May. The total listings processed by Red Deer Real Estate Board in May 2008 has increased by 8,40% in comparance with May 2007. Decrease in city residential listings processed by the Board. There were 387 city residential listings processed ( 403 - April 2007). Total Sales by Red Deer Real Estate Board (all property types) were decreased in comparance with May 2007 from 728 to 548 (24.73%). Decrease in total sales (all property types) from January 1 - May 31/07 to January 1-May31/2008 23.87%.

Red Deer

Average Selling price

May April March February January

Apartment units $207,120 $211,293 $221,928 $206,100 $189,983

Half Duplex $268,962 $260,972 $277,960 $248.088 $264,830

Mobile $74,833 $66,260 $184,000 $68,500 $96.333

S. F. House $353,247 $339,156 $361,465 $368.172 $342,746

Townhouse $230,684 $227,493 $234,033 $221,884 $256,491

Rural Residential

Average Selling price

May April March February January January 2007

Apartment units $181,957 $158,000 $188,333 $200,500 $177,450 $152,500

Half Duplex $249,937 $252,293 $258,060 $205,714 $268,700 $221,619

Mobile $94,579 $88,342 $83,947 $93,028 $73,554 $80,835

S. F. House $290,806 $302,109 $300,003 $282,734 $289,631 $255,619

Townhouse $214,050 $226,350 $234,083 $233,988 $205,771 $213,988

Acreage $455,146 $421,906 $520,407 $494,150 $404,729 $514,526

Note: All stats are from the Red Deer Real Estate Board

Saturday May 31 I had the pleasure of speaking to the attendees at the community breakfast.  There were approximately 60 residents in attendance.  The topic of discussion was that of an economic update with myself being asked to give a Real Estate update.  

I'm always happy to discuss real estate and changes in the market place with home ownes so I enjoyed the opportunity to do so. 

The house prices in the area have risen substantially over the years.  Our data from the MLS board goes back to 1989.  Back in 1989 the average house sale price in Penhold was $57,071.  Springbrook was still operating as CFB Penhold.  Penhold was and still is an affordable alternative to the larger City of Red Deer.  Red Deer's average sale price in 1989 was $95,459.  

Jumping to the first recorded MLS sales data for Springbrook in 1997, the average home sold for $61,425 in Springbrook.  At that time the sales consisted of townhouses and half duplexes.  Penhold's average sale price of houses was considerably higher at $86,432.  Still more affordable than bigger brother Red Deer.  Red Deer's average sale price for single family homes in 1997 was $131,499.

In 2000, sales and new development were occurring in Springbrook, as we entered into a prosperous new Millennium.  Springbrook's single family homes sold for an average of $112,777 in 2000.  Very close to the level of the more established Town of Penhold's average house selling price of $115,257.  Again Red Deer maintained that $40,000 difference with sales average in 200 reported at $157,993. 

So from 1989 to 2000 or the 90's, house prices in Red Deer climbed 65%.  This is pretty substantial growth during a time when we were not in experiencing a "boom".  Penhold's prices doubled over that same decade (101.95%).

For the whole story please visit my blog located here.  You can subscribe to updates to my blog by clinking here: 

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Patrick Galesloot

Frustrated selling in a buyers market? Understandable emotion. Perhaps a more closer look at the weekly stats, and market place numbers and comparing them from 2006 to now will help.

In Red Deer, May was/is , and not your typical movie fare, but when it comes to new listings 2008, is a block buster of a year.

It wasn't that long ago we were in a heated seller's market, we only have to look as far back as 2006. Then we started transitioning out of that frenzy in 2007 to today's buyer's market. Each market has it's good points and bad depending on the side of the transactional fence you are sitting. For those sitting on the selling transactional fence it can be tough pill to swallow. many are scratching there heads wondering what should I do, or what can I do to sell my house.

Sales are still strong this year there is no doubt about it. Interest rates are quite low and despite the sub prime crisis south of the border many Canadian buyers are still able to take advantage of buying zero down. I you are buying today you have much to be thankful for. I think it's important to look at how we got to where we are with this increase in inventory otherwise known as excess supply in the supply an demand world of economics.

In 2006 the weekly market of new listings and those being sold had a very narrow gap. Often the number of homes sold surpassed new listing coming onto market. In the height of things at least two buyers were available for every home. The average home owner (looking to own a home to live in) and the speculator (buying for an opportunity to sell for a quick profit).

To read more complete with statistical graphs visit my real estate blog, click here,

Your Friend in Real Estate,

Patrick Galesloot

Good. Sales were down from record 2007 sales volume, but well above 2006 numbers.

Here at Century 21 Advantage, we led the way with listings sold in Red Deer. Out of the 220 properties sold in April Century 21 Advantage sold 56 which is a little over 25%.

How does this compare to what the market is like or what is every one else doing? Well today we see a total of 785 properties available in the City of Red Deer with 70 of those with conditional offers. That is great selection for buyers, and increased competition for the sellers who are striving to be part of the 220 sold. The number of sales is down from the 242 in April 2007 (-9.09%).

We expect the story of increased selection for buyers to dominate the real estate landscape here in Central Alberta for some time. We are still in a buyers market, and what a buyers market it is. Now is a great time for people to buy. Interest rates have decreased a full point since early March. Oil prices and crop prices are high creating economic conditions favourable to those industries. The products available for buyers 25, 30 and 40 year mortgages are readily available as well as there still are zero down mortgages available through CMHC. The vacancy rate is less than 2.5% in Red Deer which is great for investors.

So if you are buying you can buy with confidence in my opinion. You have the luxury of selection, low borrowing costs, and negotiating power. The sellers should not be in a panic however patience and grounded expectations should be the norm. 2007 sales volume was a record, we may be down but we're far from out.

April Sales volume comparison:

2006: 176 properties

2007: 242 properties

2008: 220 properties

More on the Red Deer Real Estate market please visit www.patrickgalesloot.com or my Red Deer Real Estate Blog

• Tax Increase on the horizon for City of Red Deer

Housing starts drop sharply

The first two months of 2008 were probably a good time for tradespeople in Red Deer's residential construction sector to do some travelling.

The latest stats from Canada Mortgage and Housing Corp. suggest there may not have been much to keep them at home.

The national housing agency recorded just 58 housing starts in the city last month: 28 single-detached homes and 30 units in multi-family projects.

By comparison, work was started on 176 homes in Red Deer last February.

These consisted of 105 single-detached houses and 71 multi-family units.

January 2008 was also a quiet month for local builders. There were 32 single-detached and no multi-family starts.

That contrasts sharply with the first month of 2007, when there were 89 single-detached and 122 multi-family construction starts.

Regine Durand, a market analyst with CMHC, said local builders are responding to the surplus of homes. They're waiting to sell their existing inventory before building more.

There were 70 new, unoccupied, single-detached homes in Red Deer in January, she pointed out, well above the seven-year average of 39.

Meanwhile, 491 single-detached homes were under construction, as compared with an average of 418 from 2001-07.

It should take the local market about eight months to absorb the combined total of 561 single-detached homes, said Durand, adding that the 515 multi-family units under construction in Red Deer during January were also well above the city's seven-year average of 418.

Also playing a role is the city's resale market, said Durand. In January, there were about 1,950 homes listed. That translates into an eight-month inventory, about double the average over the previous seven years.

A slowdown in the migration of people into Alberta has taken a bite out of Red Deer's housing market, continued Durand.

And the escalation in house prices - which in 2007 rose 30 per cent in the case of new homes and 33 per cent on the resale market - has deterred many people from buying.

"It really makes it much more difficult for someone to make that jump from renting to buying."

However, Durand cautioned against reading too much into the 2007-2008 comparisons. She pointed out that last year's record numbers make the corresponding figures for 2008 look worse than they are.

"It's going to remain like the fourth or fifth best year on record," she said of CMHC's forecast for 2008.

With a 77 per cent decline, Red Deer's year-over-year drop in housing starts as of the end of February was the greatest among Alberta's seven largest communities.

But several others also experienced sharp downturns.

Grande Prairie was down 75 per cent, the Regional Municipality of Wood Buffalo fell 63 per cent, Medicine Hat declined 29 per cent and the Edmonton census metropolitan area was off 17 per cent.

Lethbridge's housing starts during the first two months of 2008 were up 14 per cent over 2007, and the Calgary census metropolitan area increased four per cent.

Major Red Deer City Projects over the next 10 years

A concept design for the expansion of city hall is currently underway to address the need for a larger facility. A few departments have been forced to move to leased space downtown during the past year. Engineers believe 2 storeys could be added to the building. Other options include expanding into the park area or into the RCMP building across the street once a new police building is completed. Council had approved $31 million in the 2007 capital budget for the project but due to the many other projects currently under way, the project has been postponed for a couple of years.

Arts-Heritage-History Centre

Put on the back burner for now, the most ambitious and imaginative future project is a proposed $46 million arts-heritage-history centre which could include a new museum, archives, art gallery, classrooms, display area and other features. Red Deer Public Library and Red Deer College are considering involvement. In the short term, a stand-alone archives building may be constructed to meet the immediate need of a climate-controlled facility. City council will discuss the matter at a later date. Future possibilities include a facility in the old RCMP building, in Riverlands or near the current museum.

City Hall Expansion

A concept design for the expansion of city hall is currently underway to address the need for a larger facility. A few departments have been forced to move to leased space downtown during the past year. Engineers believe 2 storeys could be added to the building. Other options include expanding into the park area or into the RCMP building across the street once a new police building is completed. Council had approved $31 million in the 2007 capital budget for the project but due to the many other projects currently under way, the project has been postponed for a couple of years.

New Police Building for 2009

Construction of a $23 million RCMP building, to be located on 45 St. near 51 Ave., is expected to start in the spring of 2008 and be open in the fall of 2009. The new facility will be close to major traffic arteries, the fire hall and downtown's party strip. It will replace the aging and overcrowded detachment across from the Red Deer Public Library that was built in 1967. A $8 million satellite police station is being added to the fire hall on 67 St.