Our New "Normal" in South East Sask - Estevan

With hours, wages and even physical jobs being cutback, we are still adjusting to the new normal in South East Sask. No one knows how long "low" oil prices will continue on the global scale but one thing is certain; we need to adjust our budgets and learn to live within our means. I will go as far as saying as we were spoiled the last couple years with the majority of our jobs being oilfield industry and having the luxury of working long hours and being compensated greatly for it. Property prices have fallen with the shift in more supply than demand (with less oil resource development happening in our area). The price of older homes (15 years plus) seem to be taking the biggest hit as there will always be a premium on brand new builds. The cost to move dirt and hire skilled trades to build a single house or an entire subdivision will always have its costs to produce new product. Working closely with the main land developer in Estevan (Trimount Homes) this is evident as we try to balance offering affordable entry level condos and homes all the while still trying to sustain a profitable business. Instead of the negative feed back of doom and gloom it still always pays to balance your budget and find a suitable mortgage to pay into equity of your home. After your 25 year mortgage is up you will be sitting on hundreds of thousands of dollars in equity and have more freedom and peace of mind. Our prices and units sold from last year are down but there will always be a real estate market to invest in, and Century 21 will always look to represent your best interests and give you all the pros and cons of being directly involved in any market for Estevan and the surrounding area.  

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