November 2011 is seasonally a slower month. Typically residential MLS sales volume for Red Deer declines as we get closer to Christmas. Majority of people seem to be content with being settled for Christmas. However sales occur daily and monthly through out the year and November is no exception.
November 2011 Red Deer residential MLS sales sales volume was 11.5% higher than the ...
Posted by Patrick Galesloot
on December 4, 2011
It should be no secret that the busiest season in Red Deer real estate is April, May and June. The answer to the question then would be the second quarter of any given year, or is that merely the popular time and not necessarily the best time to move? 2011 closely resembles a typical Red Deer real estate sales trend: What makes the best time to move the best time? A number of ...
Posted by Patrick Galesloot
on November 14, 2011
What are absorption rates and why would you want to know about them?
Quite simply the absorption rate is a number shows the rate at which the inventory of homes for sale are being sold. A declining figure indicates people the inventory is decreasing as more homes are being sold than are coming onto the market. A rising absorption rate implies that there are more homes coming onto the market than ...
Posted by Patrick Galesloot
on October 7, 2011
End of September heralds in the fall market, and the closing of the third quarter for MLS® statistics. Here in Red Deer residential sales have been positive for year over year growth and the supply side, namely listings, has decreased year over year. When we started 2011 our expectations were for modest growth and a trend to a balanced market. With the economic conditions in Alberta ...
Posted by Patrick Galesloot
on October 6, 2011
Sales are up and prices are down?
Shouldn't prices rise when sales volume rises? Yes, but there is always a lag time in real estate. To get to the heated market rapid increase stage or growth in equity stage first the sales volume must be at a greater rate than the "for sale" or listing volume. In order to get the sales volume demand up first the prices must be attractive ...
Posted by Patrick Galesloot
on September 2, 2011
"You always say now is the right time to buy, come on you're full of it"
I believe that real estate is a long term buy and hold investment so yes, buy now. The trick or "catch" if you're looking for one is the selling side of the equation. When should you sell or "cash in" is often of greater importnace than the buy.
Buying or selling real estate is also a personal decision. ...
Posted by Patrick Galesloot
on August 5, 2011
One of the most common questions we get asked is "how's the market?".
That question always should be answered with a "it depends", because it truly does depend ion what market you're referring to. Red Deer is the largest Central Alberta Community but is surrounded by several other communities withing 30 km, such as Sylvan Lake.
Sylvan Lake is a great community and has a different market ...
Posted by Patrick Galesloot
on July 25, 2011
Signs of spring:
Green Grass,
Leaves
Dandelions
and For Sale Signs
Some years it seems as if those for sale signs pop up as fast as dandelions. The warm spring and summer weather certainly brings more people out and about looking at houses. After all would you rather move in -40 and snow or +20 and sunny?
This morning The CMHC crew was in Red Deer and delivered the economic ...
Posted by Patrick Galesloot
on June 2, 2011
A steady start to 2011 and a stronger March to lead Red Deer real estate into the spring market.
Despite all of the cold weather, tons of snow Red Deer real estate MLS® statistics are pointing more and more towards a stronger 2011 and a balance stable market.
.
Red Deer Residential MLS®
March 2011
March 2010
% Change
.
Listings
232
321
-27.73%
. ...
Posted by Patrick Galesloot
on April 4, 2011
I've been a bit behind in blogging and getting the message out about the changes to real estate mortagge rules but here it is.
The summary of changes:
Amortization reduction from 35 years to 30
Ottawa would no longer guarantee insured mortgages with terms exceeding 30 years, compared to the present 35-year limit.
Home Equity Line of Credit capped at 85% and no longer insured by ...
Posted by Patrick Galesloot
on January 21, 2011