Alberta Flood 2013

The County of Vulcan did have an emergency alert for the Travers Reservoir and Little Bow, but as far as I have seen, there has been no major damage, unlike many other neighbouring communities. I know that the town of Vulcan itself, while not being a victim of the floods, has been very active in help those who have had their lives drastically changed due to the floods. We have had free breakfasts, and lunches for those who have no where else to go, and have collected clothing and other supplies for those in need. Flood victims can register at our Cultural and Recreational Centre and then come pick up clothing and supplies in different areas. Local residents have also opened up their homes to those who have no home to go back to, until they get the word that they can go back. It is strange, to say the least. Things like this only happen on TV and we become numb to it all. But now that it has happened so close to home, it puts a whole new perspective on things. At least it does for me.

Rain and cool in Calgary does not mean it isn't sunny and warm here...

So often we read, see, or hear on the news how the real estate market is doing. On the street, talk to one person and they think that the market is booming, and then talk to another and they will say that the market is slow. We have heard how the Canadian Real Estate market is slowing down, but then we hear how things are booming in Alberta and Saskatchewan. So...what are we supposed to think??? Check with the local real estate agents, your local town office, or local trades people. Just because it is raining cats and dogs and the temperature is cool in Calgary, that does not necessarily mean that the weather is not sunny and warm here in Vulcan. The same goes for the real estate market. Yes, I spoke with a real estate friend this past week and she is getting sick of all of the multiple offer situations that she is dealing with. She gets text messages in the middle of a showing, letting her know that there has just been an accepted offer on the property. Calgary has a different economy, a much larger population, and a much more diverse working population. In Vulcan, we are currently seeing an increase in activity in the local residential real estate market, however, due to our large inventory of properties on the market and a low amount of jobs available, our market is still rather soft. For example, when we figure out what our absorption rate is for the local market, it is taking the average property almost a year on the market to sell. Some are taking less time, while other are taking more than a year to sell. When we do get a couple of sales, everyone seems to get excited because "Things are moving again", "The market is starting to take off". My advice to sellers is to be patient. It is still a soft market. When we do actually get an offer in writing, that is at least a start. An offer in writing is a place to start negotiations. Potential buyers talking about putting an offer in, or just wanting to submit a verbal offer, are more often than not, wasting a seller's time. "I have friends who want to buy your place but just aren't ready yet" does not pay off one's mortgage. "We are waiting to see what the market does before we write an offer," does not make the monthly payments. As the saying goes' "In God we trust, all other must pay cash", this holds true for real estate as well. An offer is only as good as the paper it is written on. If it's not on paper, it's not really an offer. People's minds can change, remembering things differently, and so on. And one last piece of advice for the day, enjoy your time with friends at the coffee shop, but take their advice with a grain of salt. Like I said before, just because someone heard that the market is doing great in one place, does not mean that it's necessarily doing great in another. Different regions have different influences on their own market. Do your homework before coming to your own conclusions.