Numbers for the local real estate market here in Red Deer, were recently released. Despite a global economic freak-out on a local level real estate remains stable over all. The weekly sales volume reacting to media, but overall we're experiencing a consistent trend.
Compared to a year ago September sales have been good, but 2008 has more spikes. Possible media connection with the ...
Posted by Patrick Galesloot
on October 10, 2008
Changing market over the past 7 weeks, and the change is not over. With the financial markets in turmoil from the US credit crisis, an election called here in Canada, there is a lot of dynamics going on. For a detailed look at the market click here.
This week marks one of the lowest inventory levels we have seen in a while with total properties for sale in Red Deer now totalling 597. ...
Posted by Patrick Galesloot
on September 22, 2008
Looking for a small town loaded with potential? Penhold may just have what you are looking for.
Penhold although small in stature is the only "bedroom" or "commuting city" with in 15 - 20 minutes of Red Deer that has experienced an increase in MLS sales volume. The average sale price for real estate in Penhold has also experienced growth over 2007, not matched by Blackfalds or Sylvan ...
Posted by Patrick Galesloot
on September 21, 2008
The bank of Canada decided to hold interest rates steady on September 3rd. The department of Finance set a date with imposed restrictions on 40 year amortizations and the use of zero down. The kids went back to school, and families settled into to back to school mode etc...
So where are we now?
The number of new listings began to cool off during the first two weeks of August, and ...
Posted by Patrick Galesloot
on September 15, 2008
Back to school may be the most wonderful time of the year for those of us with kids. The question is will it be the same for the real estate market?
August turned out to be a mixed bag yet again. The single family home sales were strong if you were priced right and not in a higher price point. Town houses and duplexes are settling out into a good groove. Apartment condos on the other hand not ...
Posted by Patrick Galesloot
on September 5, 2008
Morrisroe is a great family neighborhood in Red Deer, not just because it is close to schools, and parks but the character really shows. The house styles have a great variety, look and feel to them. Some of that may have been influenced by St. Mary's Catholic Church.
The church is an early work by Canadian architect Douglas Cardinal. The inspiration or centre focal point is the ...
Posted by Patrick Galesloot
on August 13, 2008
With a resurgence in sales I asked the question "Why?".
Is this a result of the changes in 40 year mortgages and zero down purchases looming and people quickly using these while these options remain available?
Talking to a few mortgage associates the answer is "No". Scott at Regional Mortgage states that "It has been about the same for the 0 downs, but the use of the 40 year amortization ...
Posted by Patrick Galesloot
on August 11, 2008
What area do you live in or want to buy in?
As you can see each area has their own characteristics. The above table shows the values for all housing types. The areas with higher number of townhouses, apartments etc... tend to have a lower average list price than say Oriole Park that is currently being developed so a lot of new homes are being built, listed and sold there pushing ...
Posted by Patrick Galesloot
on August 11, 2008
July housing sales increased over last year by 22%. A dramatic change in the sales pattern for 2008 so far. Not enough to pull a reversal on what has transpired so far but an optimistic outlook for the fall perhaps. Total single-family home MLS sales for the month of July 2008 totaled 139. That was 22% more than the 114 sales reported in 2007 for single-family homes. House prices have remained ...
Posted by Patrick Galesloot
on August 6, 2008
2008 is shaping up to be the year for change in Real Estate. June 23rd, 2008 marked a significant change to real estate business. Realtors require your I.D. A new federal law came into force, real estate agents will ask to see your driver's licence, or other government-issued ID. They'll also need to keep personal information identifying their clients, such as occupation and birth-date, ...
Posted by Patrick Galesloot
on July 21, 2008