One final thought on 2011 and the upcoming year

2011 was a challenging year. The local real estate market has had lots of inventory and not much for sales. Let's look at where we are in the real estate cycle. We are certainly not at the top! I think that we are hovering around the bottom, in my opinion. With the Calgary market looking to make some gains, I think that this is going to effect out local market here in Vulcan. Warning - this is my opinion. I will let you know this time next year whether I am accurate or not. A strong Calgary market boosts prices there. As those prices get higher and higher, some people look for markets where prices are lower. Here is where Vulcan comes in. I have an offer going on a house, yes a HOUSE, which was listed at $70,000. Where are you going to find a house listed under $100,000? Under $200,000? I do not recall seeing any in the larger centers at that price. Vulcan and surrounding areas offer lower priced places where people can by more affordable places to call home. Yes there are some places that need a lot of TLC, but there are also decent homes that are affordably priced. The local rental market has been filling up since about September and this is a positive sign for the market as well. Within the past 10 days or so, I have had more showings than I had in a couple of months, plus I have had an offer! Not bad for a "slow" time of year.

Basically what I am saying is that the market is cyclical and I think that we have reached bottom and are starting to move upwards. Like I mentioned earlier, the larger markets are gaining some traction, plus economists are saying that Alberta is going to be seeing a labour shortage within the next year. I think that these are signs of the economy picking up, at least in Alberta, and we will see much more action in the market in 2012. Once again, this is my opinion. And I will let you know how good it is next year at this time!