Lower inventory

At one point this past week, there were only 23 residential properties with houses for sale through the MLS system, according the CREB stats. That is low. Mind you, traditionally, the level of inventory will pick up once spring rolls around. There is not much to choose from today for higher end type properties. Most of what is available is under the $200,000 mark. There are some buyers out looking around, but they do not have a whole lot to choose from. I am still hesitant to call it a Seller's market, because, on average, we have not seen a price increase. However, things could change if the inventory of properties does not pick up. This could lead to a very interesting spring in the Vulcan residential market.

Sales in the Town of Vulcan for 2013

I have compiled information from the Alberta Land Titles System to create a report for residential house sales in the Town of Vulcan for the year 2013. I alone gathered the information, and, being human, I may have made a mistake with some of the numbers. I do not guarantee the results. There, disclosure out of the way...here is what I found: Total house sales was 73 with an average sale price of $177,690. Fourty-five of those houses sold under the $200,000 mark. My "2 cents" says that we cut down on a lot of the lower end properties last year, and we are still seeing plenty of interest in the under $200,000 price tag.

"Well I am not going to GIVE it away..."

Markets go up and markets go down. It is a cycle. I hear this from economists, my university professors, and many other so called experts. It happens. So what do you do when you purchased an investment, such as real estate, when it was at its peak, and now the market is down...but you don't want to "give it away". That is certainly a question to ponder. Just because your neighbour sold a couple years ago for X amount of dollars, (and of course your place is much better than the neighbours) it does not mean that yours will sell for more than what he sold for, or even for an equivalent amount. The current market value is what a buyer will pay for a property today, without any outside interference (such as a bitter divorce, foreclosure, or something like that). Consider this example - say I purchased a cottage at the lake back in 2007 for the family. I paid $300,000 for a cottage, which was a heck of a deal at the time. Over the years, I have kept it up, fixed up a few things, and it looks just as good now, if not better, than when I purchased it. Now, though, my kids are past the stage of wanting to come to the lake with mom and dad, and we hardly ever go out there. Thus, I want to sell. I have heard that the market has been soft over the past couple of years, so I am prepared to not go overboard with the list price, but "I am not going to give it away either". What exactly does that mean??? Of course, I am not going to give it to the next buyer that comes out of the woodwork. "Giving" means you transfer possession without any compensation, at least in my opinion. (I am not sure what the dictionary says, and frankly, I am on too much of a roll to care) The question should be, "How much of a loss am I willing to absorb if I get a low offer?" Perhaps I have a mortgage to pay off, so I am limited that way, as to how much I can sell for. Or, perhaps I am just too pissed off to take that much of a loss on my investment. Welcome to the real world! If I am not ready to take a loss, then I should not be trying to sell my property in a soft market. However, if I really want to sell in a soft market (sales are slow, not much competition among buyers) I need to decide what my priorities are - am I ready to take a loss? how much? How long am I ready to sit on the property and pay taxes, utilities, and whatever other fees (condo?) that come along with it? Sitting on a property costs money too, unless say you have a vacant lot. No. wait. Property taxes. And then maybe there is the stress of maintaining a second property. How much is this all worth to me? To my family? Oh, and just because cousin Joe who lives at the other end of the country, who is in a different market, and different market cycle, is experiencing a hot marketplace and can't BELIEVE your place hasn't sold yet, doesn't necessarily mean that he had better luck, a better real estate agent, or better knowledge of the market. If he knows the market, he knows it cycles, and that just because the market is hot there, much like the weather, does not mean that it is hot here. Oh, how the experts come out from nowhere and can tell you what you have done wrong, what you should do, and "Boy, it that was me, I sure would have done things differently." Just smile and nod, and walk away. When you want to sell, check out the local market. Check with a LOCAL agent, who knows the market where your property is at. You will get all sorts of advice from everyone, but LISTEN to the local agents, local business owners, and consider what they have to say. Then, look at your own scenario. If the market is not in your favour, consider whether now is a good time to sell or not, and if you still want to sell, look carefully at your options. Of course you are not going to GIVE it away, but maybe, just maybe, the best thing to do would be to take your losses, and then be done with it. Finished. And then walk away and not worry about it anymore. I had that real life scenario happen to me. I listed my own place too high, letting it sit on the market with very little action, still paying taxes and utilities, and driving a couple hours each week to take care of a house I no longer lived in. I dropped the price. When I finally got an offer, I cringed. It was lower than what I wanted. However, it was an offer and it was in writing. I accepted it. Didn't like it, but I did. When the deal went through, my wallet was not as heavy as it should have been, but I was relieved that I no longer had to worry about this property anymore. I am not saying that my decision is right for everyone, but it worked for me. Just something to think about...

Merry Christmas!

I just want to wish everyone a Merry Christmas and a healthy prosperous 2014!

Why move to Vulcan, Alberta?

People have reasons for relocating, and I would like to point out a few reasons why people should consider Vulcan as their home town: 1) Traffic - our "rush hour" is when there are four cars at the four-way stop and a pedestrian is crossing the road. If you have a meeting on the other side of town at 7 pm, you can leave be 6:55 pm and still be a minute early. 2) Golf course - Vulcan is home to a beautiful 18-hole golf course. And memberships are cheap! 3) Hospital/health care facilities - our hospital has an emergency room. If you are waiting longer than 15 minutes to be seen, that is considered a long wait. We have doctor offices, a dentist, chiropractors, optometrists and more! 4) Walking path - we have a walking path that literally goes "around town". It is paved and well maintained. 5) Clean - our town is clean. There is pride shown by the town employees, to the citizens themselves. 6) Community clubs - I do not know how many community clubs that there are in this town, because I cannot keep track of them all. There is something for everyone to get involved in, if they so choose. 7) Fitness centre - Bodyworks fitness centre is open 24 hours and day, 7 days a week. Membership for the YEAR is only $160! There is cardio equipment, weights, and a squash court. How can you beat that??? 8) Hockey and curling rinks. - Hey, we are Canadian and we love our winter sports! 9) Walk score - We have a good to above average walk score. This means that you can practically walk to almost anywhere in town without too much effort. Whether it is to the post office, grocery store, doctor's office, or school, you could walk there. 10) Outdoor pool - yes, it is seasonal, but it is still a great pool and THE place to be in the summer! 11) Star Trek - Vulcan is the Star Trek Capital of Canada. We have the spaceship, Trek Centre (tourist information centre), and a Star Trek Museum. Enough said. 12) Tinman Triathlon - I took part in this in June and it was great! There are over 1000 people who participate each year. 13) Community spirit - Vulcan has a free rodeo each August, a fly-in breakfast and show-n-shine each summer, Christmas craft shows, fall fairs, and so much more! 14) Housing prices - The past two years have seen the average price of a single family residence lower than $200,000. 15) Location - we are located half way between Calgary and Lethbridge. There is out of town shopping going on, but that happens wherever you go. At least here, you can go to the big city and do what needs to be done, but then come home to the friendly, peaceful life of Vulcan.

Blizzard conditions sweeping through county | Vulcan Advocate

Blizzard conditions sweeping through county | Vulcan Advocate

A big THANK YOU goes out to the crews who are cleaning up the streets and highways so that we can all get moving again soon!

If you are able, how about helping out your neighbour and grab a snow shovel and help them out too.  This is what helps make Vulcan and County a great community!

Farmers Tribute: So God Made A Farmer. Paul Harvey