Our Local Real Estate Market and COVID-19

The world will never get back to normal.  The COVID-19 pandemic has had an effect on everyone worldwide.  The Town of Vulcan and County of Vulcan are no different.  I receive plenty of questions about how our real estate market is doing through all of this.  Well, as real estate associates, we have made a few changes.  Not all selling clients want people going through their homes these days.  That is understandable.  Sellers do not have to let people in.  It is as simple as that.  Some people are taking their properties off of the market because of this, and will try again once this has passed.  Not all buyers want to go through someone else's house either.  We just do not know where people have been.  There are documents for people to sign to state that they are healthy and have not travelled anywhere lately, but that is not always enough to make people feel safe.  I have found that the vacant properties are getting more attention than occupied ones.  My office has about three or four deals on the go as of the time of this writing.  This is nice to see as this is usually the time of year when the market gains strength.  At Magnuson Realty Ltd., I am using FaceBook Live for virtual open houses, plus I record videos of properties to post on the MLS system.  These are things that I have been meaning to do for years, but just never did.  Now, I feel that it is a must.  People can view the properties from the safety of their own homes and decide from there if they want to see them in person.  We also have electronic signatures.  We do not have to meet face-to-face with our clients to sign contracts and make changes.  I have had this for several years now, and it saves time, fuel, makes the contracts much cleaner than faxes, and now apparently it is safe for us, as there is less physical interaction.  We have to adapt in order to keep relevant in this new world.  And there is more time for webinars to learn how to be better at what we do.  The goal here is to come out of this stronger than when it started.

Our Local Real Estate Market in a Nutshell

At least a couple times a day, I am asked how the market is going.  "Things are still pretty weak?"  "Lots on the market, eh?"  "Not much selling, I hear."  Well, this is what I have to say...  The first 11 months of 2019 were not great, much like most of the province of Alberta.  However, in December, the market was busy around here, at least at our office.  There was interest in farm land, residential properties, and even some commercial.  We actually had a accepted offers during the month.  January came along with its cold, and snow, and that slowed things down quite a big.  Then came February.  Buyers are wanting land.  We have found them land.  People are looking for houses.  We found them houses.  Even at Lake McGregor Country Estates, I had a listing for a cottage lot out there, and we sold it.  I believe there were even a couple more cottage lot sales out there this month.  Now, I am not saying that the market is turning around and we are heading into  a big upswing, but what I am saying is that the market is improving.  I am optimistic about 2020, as my office is averaging at least one transaction per week, so far this year.  With us nicely into the 2020 year, our local  market is seeing the expansion of the hospital moving forward.  Estimated to be open for patients later on this summer.  The demo of the old swimming pool is to begin here within a week or two, as work has already begun preparing the interior for being disassembled.  The pool is expected to be done in October, with the opening ready for the summer of 2021.    www.magnusonrealty.com