March 2015 Newsletter
2015 - YEAR OF THE GOAT
Now this is an animal that is good and bad. It chews on a lot of things all the time. it’s coat is warm and useful. It is stubborn and has horns to hurt you. This is the beginning of the Chinese New Year! Does this mean our year will be like the goat?
We all want to know the future. The best people to ask are those that have lived the past. As oil booms and busts go, Jim Gray is the best to know. A recent CBC News article on the web, points to thoughts and wisdom from this famous Alberta oil man.
Oil patch veteran Jim Gray offers wisdom on crude collapse. Jim Gray got his first job in the oil patch in 1956. Gray says that when oil drops precipitously, as it has done, half the drop is rational and half the drop is irrational. Gray doesn’t know if oil has hit bottom, but says once that has happened, oil will bounce around at the bottom for 6 or 8 months, but the irrational part of the drop will recover very quickly, meaning it will climb to the $60-$65 range. Gray says that in his opinion, oil cannot stay down for an extended period of time. Both the provincial government and many individual Albertans are feeling a little over extended right now. Gray says that’s a hard, but important lesson to learn.
The real estate market continues on with inventory rising every day. A good time to buy with all those choices? CREB says buyers have to think in a time line of years for local real estate. You have all heard me say when I started in 1987, the average price was $89,000. Today the average price is $500,000. I hope you all have a great month.
I would like to remind you about my web site. In it you will find easy access numbers and websites for all of your real estate buying, selling and home owner needs. Please go to www.docwatson.ca
If you know of anyone who is thinking of buying or selling, I would appreciate you passing my name onto them. Thank you for all the referrals! Have a great month.
“Doc” Watson, Realtor
Sutton Group Canwest
Text: (403) 804-8007
Office: (403) 208-7788
Celebrating over 25 years of Real Estate Service in the Calgary area