FUNNY THINGS CAN HAPPEN IN THESE REAL ESTATE TIMES?
The real estate market in Calgary remains slow but resilient. Buyers and Sellers are a bit stubborn when it comes to negotiations. Sellers are starting to realize that if a reasonable offer is presented to them, they should consider it very seriously as the next time an offer comes along could be a long time.
Surprisingly, prices are holding from one year ago with only a -3% change in the Medium average price. Sales are down about 12% from one year ago. The good news is Alberta’s unemployment rate remains at the same rate as the national level of about 7%. I believe the Alberta economy may be stronger than it is perceived to be. The strength is coming from our strong spirit and propensity to take a bad thing and turn it into a new opportunity for growth.
I wanted to mention that in these slow times, there are some humorous things that Realtors may do to help in the sale of a home. If you are a practicing Catholic there are assigned Saints to pray to that help you in selling a home. The instructions are something like; place the miniature statue in the ground up side down facing the front door of the home and then read out a prescribed prayer. This is supposed to increase the possibility of a showing and an offer for the Seller. Some Realtor’s say this has worked for them.
The other humorous thing that some have tried to help sell a home is to hire a Shaman or spiritual person who does a ritual that rids the home of bad Karma and spirits with a cleansing ritual. It is to get the bad spirits out of the property. If any of these things work, then hallelujah!
This week I sold a duplex in the North West. It has taken about a year of being on and off the market. We recently put it back on the market and we received an unconditional offer at a fair market price within the first week of being on the market. At first I didn’t believe it, then I realized that consumers are buying for the long term in good locations. This is a good rule to follow. Real Estate can still be a good, long term investment.
If you know of anyone who is thinking of buying or selling, I would appreciate you passing my name onto them. Also my webpage at www.docwatson.ca has daily updates on house prices in the Calgary market. There is also a directory of services and professionals to help you in all your home needs.
“Doc” Watson, Realtor
Sutton Group Canwest
Text: (403) 804-8007
Office: (403) 208-7788
Celebrating over 29 years of Real Estate Service in the Calgary area