'Tis the Season for the market to slow down

Over the past couple of weeks, the residential real estate market has slowed down. We have not had much for showings, and have had just a couple of new listings. This is not unfamiliar for this time of year. The cold weather has not helped, but also people do not tend to move around the Christmas season. Saying that, when we do get people looking at this time of year, they tend to be serious, as not everyone likes to move in the middle of winter.

Fall market

The last half of September has seen a slow down in showings. I would say a slow down in the market, but as soon as I tell someone that, it gets busy. There have been sales, but not as brisk as during the summer. All in all, I would say that it has been a good year for the local real estate market. We are even seeing a few residential lots sell that had been on the market for quite a while. When lots sell, hopefully this leads to new home construction. New home construction usually leads to activity, and a more positive outlook on the market. While there has not been much for building activity before this past season, there are two homes being built in the Whispering Creek area, and there have also been a few move-on houses set up in town. And with the construction of the new seniors housing project to start by spring, this could be the beginning of some busy times in the local construction business. Plus, with the new seniors facility, there will be 20 to 25 more jobs. If we think that the rental market is tight now, wait until those new workers start looking for a place to live! We need more rental units for these people and it will be upon us quicker than we think. With only 17 houses for sale on the MLS system today, plus a few for sale by owner places, I am thinking that the coming year is going to bring some challenges!

Thinking of selling?

If you are thinking of selling your home, it is best to plan ahead. Put yourself in the shoes of potential buyers. First of all, how does your place look from the street? Does it look inviting, well taken care of? Or does it look like a "fixer-upper", that has been neglected over the years? There is no time like the present to get the yard cleaned up, paint the fence, fix the fence, get rid of the weeds, paint some trim, fix broken windows, and clean up the junk in the yard. Now it's time to go inside - do the keys work? Just because you know how to hold your tongue just right and fiddle with the keys to get that stupid door knob to open, does not mean the people who are coming to view the property will. That can be a big turn off especially if the real estate agent is trying to open the door and has troubles, while the clients are getting soaked in the rain, or freezing in the cold. Now, step inside. One of the big senses we have is smell. Does your place smell like roses, or fresh baked bread or cinnamon buns? Or does it smell like the garage has not been taken out in weeks, or like there is a dirty cat little box smelling up the joint? This is where some fresh paint would not only help things look better, but also give a newer smell to your house. Cleaning is always a big thing. Make sure the house is clean. Always. You never know when you may get a phone call from someone who wants to look at your house on short notice. Talking about cleaning, DE-CLUTTER. You will be moving anyways, so just as well start to pack up the clutter and get it into storage, or your parents garage, or something. Clutter makes houses look small and not as desirable as when people walk into a large open area. We all like our space, so let's make things look big! Paint. This is your best return on your investment. Personally, I do not like painting, but once it is done, you might like it so much you may end up wanting to stay! So if you are even just thinking about selling, the time to start planning is now. Save some stress later on. If you end up deciding not to sell, well, you end up with a cleaner, nicer looking home anyways. What's wrong with that?

Tips for preparing for fall and winter

As the days start to get shorter, it is time to start thinking about the fall and winter seasons. Here are a few tips for life at the lake: start thinking about winterizing your RV or cottage. Get in contact with management about getting your water shut off if you are not going to be around for the winter. If you are not comfortable winterizing your RV, talk to a neighbour. There are people who have been out there for years who are more than willing to pass along a few helpful hints. If you are going to be away, let your neighbours know so that they can keep an eye on your place for you. Let management know too, so that they can also keep an eye on your place, and leave them contact information in case they need to get in touch with you. Hopefully all will be good but we should be prepared. Best to be safe than sorry.

A good summer for sales

The real estate market has been soft in Vulcan for several years. Last year, things started to pick up, I would say mainly due to the floods in High River and Hidden Valley Resort. This year, the momentum carried forward and we have seen a good spring and summer as far as real estate sales go. Even though activity seems to have slowed down a bit in the past week or so, there have still been many houses exchanging hands since the beginning of the year. I guess I should be more specific - there have been a good number of houses exchanging hands this year that are priced under the $250,000 mark. Houses priced higher than this are getting some showings, but not much for sales. Our local economy has not brought in new jobs, or new businesses, that can help potential buyers afford to make payments on the higher end houses. That is the way it is for the local people. As for those who are looking for housing in Vulcan and are from Calgary and area, they are still getting a lot for their investment here than they were getting back in the city. With the average house price in Calgary hovering around the half million dollar mark, purchasing a higher end home in Vulcan for much cheaper seems like a great deal. And it is a great deal for those who do not have to commute to the city everyday, or perhaps only a day or two a week. We just need to get more of those people down here to see what Vulcan has to offer!

Real Estate activity - year to date

Despite the cold, long winter, our office records show that we are 11 transactions ahead of this time last year. The overall inventory of houses available for sale within the Town of Vulcan is lower than last year. Through the Calgary Real Estate Board, we are at less than 20 houses currently for sale. Taking into account listings from other real estate boards, as well as private sales, the number is most likely closer to 30. There are a few higher end properties for sale, but the action on those is limited, mostly due to our local economy. We just do not have many higher paying jobs around for people to afford the higher priced homes. Basically, with supply and demand the way it is, one could assume that if you have a property priced under $200,000 that is in decent shape, you are going to see a lot more action than a higher end house. We have also seen a residential lot on Centre Street sell at $45,000, while there have been other residential lots sell close to the rodeo grounds under the $30,000 mark. We are seeing "move on" houses being set up, or in the process of being set up on these properties. There is one new house being built along the golf course on Whispering Drive. There is talk about some "spec" homes being built this year, but I have yet to see any evidence of that.

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